September 22, 2020 : [Guest post] With so many students pursuing an MBA, the range of fees structure in top MBA Business Colleges in India is quite wide. Cost of studying for an MBA in India can be anywhere between 20,000 to 25 Lakh INR. While the top MBA colleges in India are expensive with their fees starting from 15 Lakh, some other colleges and government-funded colleges are quite affordable.
The fees and placement of the college will depend on the infrastructure, course pedagogy, quality of faculty, and student exchange programs. A Utkal University may not offer the same placements as IIM Ahmedabad. But the course fees offered by the former will be less than the latter. Listed below are some of the top MBA colleges in India offering great placements at affordable fees.
| Colleges | Fees (INR) | Average Salary Package (per annum INR) |
| IIM Ahmedabad | 23 Lakh | 23.31 Lakh |
| IIM Bangalore | 18.70 Lakh | 23 Lakh |
| IIM Calcutta | 20 Lakh | 23.75 Lakh |
| IIM Lucknow | 11.76 Lakh | 21 Lakh |
| IIT Kharagpur | 9.27 Lakh | 19.67 Lakh |
Top MBA Colleges in India – CAT vs GMAT fees
The application fees to take an entrance exam like CAT, MAT, XAT, and others are cheap compared to GRE or GMAT. The CAT registration fees, for example, are 2000 (General Category) and 1000 INR (Reserved Categories). The application fee for GMAT is 250 USD (18,000 INR approx). The GRE application fee is 205 USD. Mentioned below are some of the top budget MBA colleges in India.
Top MBA Colleges in India under 5 Lakhs
| College | Fees | Average Yearly Salary Package (INR) |
| FMS, Delhi | 20,960 | 20.96 Lakh |
| Delhi School of Economics, DU | 31,392 | 13-14 Lakh |
| Department of Financial Studies (DFS), DU | 48,000 | 9.2 Lakh |
| Tata Institute of Social Sciences (TISS), Mumbai | 1,14,600 | 20.06 Lakh |
| Department of Management Sciences, Pune University | 1,32,000 (For candidates of Maharashtra) 1,33,000 (For candidates of other states) | 7.6 Lakh |
| FMS, Varanasi | 2 Lakh | 7.2 Lakh |
| Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai | 3 Lakh | 18.91 Lakh |
Top MBA Colleges in India under 10 Lakhs
| Colleges | Fees (INR) | Average Yearly Salary Package (INR) |
| NITIE, Mumbai | 7 Lakh | 19.77 Lakh |
| DMS, IIT Delhi | 8 Lakh | 16.54 Lakh |
| Shailesh J. Mehta School of Management, IIT Bombay | 8.15 Lakh | 25.8 Lakh |
| DMS, IIT Roorkee | 8.24 Lakh | 9.8 Lakh |
| KJ Somaiya Institute of Management Studies and Research | 9 Lakh | 10.05 Lakh |
FMS, Delhi – Delhi University established the Faculty of Management Studies in 1954 and still administers it. It is one of the top MBA colleges India with respect to a very cheap fee structure. The average salary package is also very high. It takes admission based on CAT percentile. Some of the recruiters for placements are ITC, IBM, ICICI Bank, Accenture Strategy, amongst others.
DFS, DU – Department of Financial Studies takes in students as per their CAT percentile. ICICI Bank, American Express, Axis Bank are a few recruiters for campus placements among others.
KJSIMSR – It is one of the top MBA colleges in India that offers admission based on CAT, XAT and GMAT scores. Some of the top recruiters for campus placement are Google, GEP, Hindustan Unilever, Citi Bank, Crisil, SAP, Amazon, HSBC, Deloitte, Capgemini, and others.
JBIMS, Mumbai – The institute has restricted the student intake to only 120 students. It selects them based on MAH-CET, CAT, CMAT scores. Some of the college’s top recruiters are Accenture, Goldman Sachs, JP Morgan, ICICI Bank, P&G, and others.
NITIE, Mumbai – This Institute conducts an intake of students based on CAT score followed by Group Discussions and Personal interviews. Flipkart, Deloitte, Coca Cola, Amazon, Nestle are some of the top companies that recruit from the campus placements.
DMS, IIT Delhi – Established in 1997, it is one of the top MBA colleges in India which admits students according to their CAT scores. The top companies that recruit from the campus placements are Citi Bank, JP Morgan Chase, ICICI Bank, American Express, P&G, Johnson and Johnson, ONGC, Infosys, and many others.
DMS, IIT Roorkee – Approved by AIC, AICTE and NAAC, the college takes in students with their CAT scores. Some of the top recruiting companies are Deloitte, EY, Cognizant, P&G, McKinsey, and others.
SJMSoM, IIT Bombay – The institute initiates admission based on CAT score. Few of the companies recruiting from this college are Nestle, PWC, Accenture, Bisleri, ICICI Bank, Goldman Sachs, and many others.
Top MBA Colleges in India under State Universities offering MBA at affordable fees
| Colleges | Fees (INR) | Average Annual Salary Package (INR) |
| Institute of Management, BHU (Varanasi) | 98,888 | 98,888 |
| Institute of Business Management, Jadavpur University (Kolkata) | 3.1 Lakh | 10 Lakh |
| Indian Institute of Social Welfare and Business Management (IISWBM), Kolkata | 3.65 Lakh | 4.5 Lakh |
| Indian Institute of Forest Management (IIFM), Bhopal | 6.24 Lakh | 6.97 Lakh |
| Pune Institute of Business Management, Pune | 7.95 Lakh | 7 Lakh |
Other Institutes with affordable MBA Programs
| Colleges | Fees (INR) |
| Andhra University, Visakhapatnam | 24, 440 |
| Jamia Millia Islamia | 33,170 |
| Utkal University | 40,600 |
| Cochin University of Science and Technology | 42,000 |
| Maharshi Dayanand University Center, Dwarka | 48,000 |
| Vishwa Vishwani School of Business | 54,000 |
| Department of Management Studies, Anna University | 56,550 |
| University Business School, Chandigarh-Punjab University | 60,000 |
| YMCA, New Delhi | 61,256 |
| Maharshi Dayanand University | 84,468 |
| Christ University, Bangalore | 3.10 Lakh |
| MIT Pune | 3.50 Lakh |
| Delhi Technological University | 3.56 Lakh |
| Indira Institute of Management | 4 Lakh |
The above details suggest that in India is home to top MBA colleges in India offering superb outcomes at reasonable fees. MBA in the USA will cost 170,000 USD to 220,000 USD whereas MBA in Europe will cost 70,000 – 120,000 USD. MBA fees at INSEAD, Singapore will pinch 100,000 USD. So, management programs abroad is always a costly proposition. But in India you can enjoy the same quality at a lesser cost. Stay tuned for more updates regarding the same!
