In contemporary India, an MBA degree has become one of the most coveted and prestigious career options. With several top Indian universities and colleges, including MBA courses in their program, many students now opt for this respected course. Amongst all MBA colleges, the full-time MBA is the most popular. It includes theory classes, practical projects, and internships. Fresh graduates as well as candidates with a few years of work experience opt for a full-time MBA. Apparently, there are 5,200 MBA colleges in India that offer the course in a full-time, part-time, distance-learning, and online mode of study. These colleges provide degree, diploma, and certificate courses. This article will give you the necessary information on what an MBA degree is, how to get one, and also, 13 best MBA Colleges in India.
What Is An MBA Degree?
An MBA is an acronym for Masters in Business Administration. An MBA degree is an internationally recognized degree that aims to develop the skills required for careers in the areas of management and business. According to Investopedia, an MBA is a graduate degree earned at a university that provides theoretical and practical training to help graduates gain a better understanding of general business management functions. Generally, the MBA degree can have a specific focus in fields such as accounting, finance, or marketing. However, the value of the MBA is not strictly limited to the business world. An MBA can also be useful for those pursuing a management career in the public sector, government, private sector, and other fields.
Why Choose MBA?
The MBA is one of the most popular professional degrees in the world and India is not an exception. According to Reva University, the demand for a degree from a top MBA college in India is so high that last year over 2.5 lakh students applied for the CAT. In response to this strong demand for an MBA degree, many colleges and universities now offer such programs and courses today. The importance of an MBA degree in India especially one earned from the top MBA colleges, cannot be overemphasized. Below are some of the notable reasons why an MBA degree is important:
Eligibility requirements for MBA colleges.
Truly, the eligibility requirements for MBA courses may differ from college to college. However, the basic eligibility requirements to pursue an MBA are as follows:
Candidates must have passed graduation in any discipline or equivalent from a recognized university as a basic eligibility criterion for MBA (full-time).Most of the institutes follow the minimum score criteria in graduation which is 50 percent on average or equivalent. Some of the colleges also offer a five percent relaxation to students from the reserved categories.Final-year graduation candidates are also eligible to apply for MBA, provided they present the proof of completion of graduation degree within the duration specified by the institute.
Apart from merit-based admission, many top-ranked MBA colleges in India also accept scores of national- and state-level entrance exams, including CAT, XAT, GMAT, CMAT, MAT, NMAT, ATMA, IBSAT, MAH CET, SNAP, etc. for MBA admissions.
What are the different specializations offered by MBA Colleges in India?
In India, there are various courses offered offered by MBA Colleges. Some of the major specializations in MBA colleges include:
General ManagementMarketingOperations ManagementPublic RelationsHealthcare AnalyticsEvent Management Finance ManagementIndustrial Engineering
What Is The Median Salary For MBA Colleges in India?
Getting a job with a high salary after becoming an MBA graduate is not a difficult task provided that you choose your MBA specialization wisely. Also, your salary depends on the company or Industry that you join In fact, a lot of MBA graduates earn well, especially MBA graduates who specialize in finance.
Best MBA Colleges In India
There are several top MBA colleges and also universities that offer MBA courses in India. However, for the purpose of this article, I will be writing on the 13 best MBA Colleges in India. The ranking of these top MBA colleges in India is in accordance with the National Institutional Ranking Framework (NIRF).
List of 13 Best MBA Schools in India
IIMB – Indian Institute of Management Bangalore
Indian Institute of Management Bangalore is a public management school and an Institute of National Importance located in Bangalore, India. With its formation in 1973, after the establishment of IIM Calcutta and IIM Ahmedabad, IIMB is one of the leading graduate schools of management in Asia. It mainly offers Post Graduate, Doctoral, and executive training programs.
In addition, IIMB has 107 full-time faculty members, about 1200 students across various degree-granting programs and nearly 5000 annual Executive Education participants.
The institution’s degree-granting programs comprise the Doctor of Philosophy (Ph.D.), the Master of Management Studies (Public Policy), and the Master of Business Administration.
As one of the top MBA colleges in India, they offer the following MBA programs.
In addition, IIMB is currently #1 in the NIRF Mangement institution ranking. The institution also enjoys other highly-placed international rankings.
IIMA – Indian Institute of Management Ahmedabad
Indian Institute of Management Ahmedabad is one of the best MBA colleges in India. Founded in 1961, IIMA is a public business school in Ahmedabad, Gujarat, India. The institute offers Masters Degree programs in management and agri-business management, a fellowship program and a number of executive training programs. Currently #2 in Management institution ranking according to NIRF, Indian Institute of Management Ahmedabad also enjoys high ranks in several international rankings.
IIMC – Indian Institute of Management Calcutta
Founded in 1961, the Indian Institute of Management Calcutta is a public business school in Joka, Kolkata, West Bengal, India. The school is one of the top MBA colleges in India and also, one of Asia’s finest Business Schools. It was the first institute for Post-Graduate studies and research in Management established by the Government of India in collaboration with Alfred P. Sloan School of Management (MIT), the Government of West Bengal, The Ford Foundation, and Indian industry. IIM Calcutta is the first and only triple-accredited management school from India. In addition, the MBA degree program covers specific skills in areas such as accounting, finance, marketing, operations, and management. Furthermore, IIMC is currently #3 in the NIRF Mangement institution ranking. The institution also enjoys other highly-placed international rankings.
IIML – Indian Institute of Management Lucknow
Established in 1984 as the fourth Indian Institute of Management by the Government of India, the Indian Institute of Management Lucknow is an autonomous public business school in Lucknow, Uttar Pradesh, India. IIM Lucknow offers a post-graduate program, fellowship, and executive programs in management. The postgraduate program is designed to train professional executives with the conceptual basis and skills necessary to manage the business of the future while providing them with the vision to determine what the future will be. In addition, IIML is currently #4 in the NIRF Mangement institution ranking and also enjoys other highly-placed international rankings.
IIMI – Indian Institute of Management Indore
Founded in 1996, the Indian Institute of Management Indore is an autonomous public business school in Indore, Madhya Pradesh in India. It is the sixth addition to the Indian Institute of Management family of management schools. IIM Indore is a leader in the field of management education, interfacing with the industry, government, and PSUs. It is promoted and nurtured by the Ministry of Human Resource Development, Government of India and is an institute of national importance under the Indian Institutes of Management Act 2017. The institution offers several postgraduate and executive programs in Management. As one of the top MBA colleges in India, the institution ranks #5 in the NIRF Mangement institution ranking.
XLRI-Xavier School of Management, Jamshedpur
XLRI – Xavier School of Management, formerly Xavier Labor Relations Institute, is the oldest B-school in India. Founded in 1949 by a few visionary Jesuit Fathers in Jamshedpur, Jharkhand, India, XLRI is one of the best MBA schools. Furthermore, with the goal of bringing a change in the economy and society at large, the institute always strives to be a management school with a difference. In addition to its portfolio of full-time, Flagship Management programs in Business Management, Human Resource Management, and General Management, XLRI also offers programs for varied segments of students by way of part-time and virtual interactive learning. As one of the top MBA colleges in India, the institution ranks #7 in the NIRF Mangement institution ranking.
Indian Institute of Management Kozhikode
The Indian Institute of Management Kozhikode is an autonomous business school in Calicut, Kerala. Established in 1997 by the Government of India in collaboration with the Government of Kerala, the institute is one of the 20 Indian administrative institutions. It was the fifth IIM that was founded. The institution offers a wide range of academic programs in the field of management education. The institution ranks #8 in the NIRF Mangement institution ranking and is one of the best MBA colleges in India.
Department of Management Studies, Indian Institute of Technology, Delhi – DMS IIT Delhi
Department of Management Studies, Indian Institute of Technology, is the school of management education and research in the Indian Institute of Technology, Delhi. The Department of Management Studies is a result of the evolutionary process of growth of an idea floated in 1963. In 1993, the department was created by modifying the statutes of IIT (D). Then, in response to the comments of students, graduates, and industry, the Department of Management Studies began MBA programs in 1997. The Department currently runs a two-year full-time MBA program (in general and with a focus on Management of Telecommunications Systems) and a three-year part-time MBA program (with a focus on technology management). The MBA program at IIT Delhi is designed to adapt to changes in the business environment and industry needs. The institution offers courses in the following PROGRAMS: The institution ranks #9 in the NIRF Mangement institution ranking and is one of the best MBA schools in India
National Institute of Industrial Engineering, Mumbai Shailesh J Mehta School of Management, Indian Institute of Technology, Bombay
IIT Bombay established its management school in 1995 with the objective of transforming professionals with the technological background to “Renaissance Leaders” of tomorrow. However, in the year 2000, the school was renamed as Shailesh J Mehta School of Management, in honor of Dr. Shailesh J. Mehta, a distinguished alumnus of IIT Bombay and a generous contributor to the school. The Shailesh J. Mehta School of Administration, IIT Bombay, seeks to develop managers for a comprehensive and comprehensive understanding of all business functions through its flagship Master of Business Administration program. Furthermore, as one of the best MBA schools in India, SJMSOM IIT Bombay offers the following programs: In addition, the institution ranks #10 in the NIRF Mangement institution ranking.
Indian Institute of Technology Roorkee
Indian Institute of Technology Roorkee, formerly University of Roorkee and Thomason College of Civil Engineering, is a public engineering university located in Roorkee, Uttarakhand, India. The institute offers several undergraduate programs leading to a bachelor’s degree in various engineering, technology, and architectural disciplines, integrated dual-degree programs, integrated master’s programs in various engineering and science disciplines, and postgraduate courses in specialized fields leading to Masters in Technology, Architecture, Science and Management. Notwithstanding being an Institution of Technology, IIT Roorkee offers MBA programs through CAT in addition to their other programs. Also, the institution ranks #11 in the NIRF Mangement institution ranking and is one of the best MBA colleges in India.
Management Development Institute, Gurgaon
Management Development Institute is a premier business school and one of the best MBA colleges in India. It was founded in 1973 by Industrial Finance Corporation of India and is located in Gurgaon, a commercial hub near the Indian capital of New Delhi. Its second campus has come up near Murshidabad, West Bengal. It is important to note that the PG Programmes in Management offered by MDI are recognized and accredited by the All India Council for Technical Education (AICTE) New Delhi. Management Development Institute offers the following programs: In addition, MDI is the first Indian B-School with international accreditation by the coveted Association of MBAs (AMBA). It is also among the selected few B-School accredited by South Asian Quality Standards (SAQS) in 2005. Furthermore, the institution ranks #12 in the NIRF Mangement institution ranking.
Indian Institute of Management Udaipur
The Indian Institute of Management Udaipur, also known as IIMU, is a graduate business school in Udaipur, Rajasthan, India. The Institute officially opened in 2011, however, the approval of its creation was approved by the Indian Government in 2009. IIMU offers the following programs: In addition, the institution ranks #13 in the NIRF Mangement institution ranking and is one of the top MBA schools in India.
Indian Institute of Management Tiruchirappalli – IIM Tiruchirappalli
The Indian Institute of Management Tiruchirappalli is a public graduate business school located in Tiruchirappalli-Pudukkottai National Highway 336, Tamil Nadu, India. It is also the eleventh IIM and was instituted on 4th January 2011. As one of the colleges that offer MBA degrees in India, IIM Tiruchirappalli offers the following programs: Furthermore, the institution ranks #14 in the NIRF Mangement institution ranking.
Conclusion
A Master in Business Administration degree (MBA) is indeed one of the most popular professional degrees in the world and India is not an exception. Due to this, several universities now offer MBA programs as part of their curriculum. This article will help you to choose and make decisions from the list of the 13 best MBA Colleges in India. I hope you find this helpful. Good Luck!!!
