In India, pursuing an MBA degree is not just a career choice but a strategic move towards professional success. The demand for MBA graduates continues to soar as industries seek skilled leaders equipped to navigate the complexities of modern business. However, MBA cost in India is one of the major concerns in choosing this path.
Let's dive into this topic and have a look at the fees of this strategic course across various segments of colleges:
MBA Course Details
Particulars
Details
MBA Full Form
Master of Business Administration
Course Level
Post Graduation
MBA Course Duration
Full-time MBA: 2 years
Online/Distance MBA: 1 - 4 years
Integrated MBA: 5 years
MBA Eligibility Criteria
Minimum 50% in graduation (45% for SC/ST candidates) in any discipline
Work experience is preferred but not mandatory
MBA Admission Process
Entrance exam followed by group discussion and personal interview
INR 10 - 25 lakhs (varies based on the institution's prestige, location, and facilities provided)
Top Recruiters After MBA
Amazon, Boston Consulting Group, JP Morgan, McKinsey, Morgan Stanley, Apple, Deloitte, Google, ICICI Bank, Microsoft
Average Salary After MBA
INR 15 - 30 LPA (can go higher depending on the specialization, institute, and job location)
Skills Developed
Leadership
Strategic Thinking
Communication
Problem-Solving
Analytical Thinking
Teamwork
Time Management
Career Opportunities
Management Consultant
Investment Banker
Operations Manager
Marketing Manager
HR Manager
IT Manager
Entrepreneur
Emerging Trends in MBA
Digital Transformation
Sustainability and CSR
Data Analytics and AI
Entrepreneurial Management
Remote and Hybrid Work Management
MBA Fee Structure 2024
When delving into the realm of MBA course fees in India, it's crucial to understand the diverse fee structures across different types of institutions. From government colleges to prestigious private institutions like IIMs and IITs, the cost of pursuing an MBA can vary significantly, impacting students' overall educational experience and career prospects.
Government colleges in India offer more affordable MBA programs, with fees ranging from INR 2 lakh to 10 lakh. These institutions focus on providing quality education at a reasonable cost, making them an attractive option for students seeking value for money and a solid academic foundation.
Department of Management Science, Savitribai Phule Pune University, Pune
INR 66,194
MBA Course Fees in Private College
Private colleges, on the other hand, often have higher MBA course fees, ranging from INR 10 lakh to 40 lakh. These institutions emphasize state-of-the-art infrastructure, industry connections, and specialized programs, catering to students looking for a more tailored and immersive learning experience.
IIMs, renowned for their academic excellence and industry reputation, offer MBA courses with fees ranging from INR 15 lakh to 30 lakh. Investing in an IIM education translates into unparalleled networking opportunities, top-tier faculty, and exceptional placement records, making it a coveted choice for aspiring business leaders.
Colleges
Annual Course Fees
IIM Ahmedabad
INR 33,00,000
IIM Bangalore
INR 31,00,000
IIM Calcutta
INR 31,00,000
IIM Rohtak
INR 8,90,000
IIM Kozhikode
INR 20,75,000
IIM Lucknow
INR 20,75,000
IIM Indore
INR 17,95,000
IIM Raipur
INR 16,30,000
IIM Udaipur
INR 21,20,000
IIM Shillong
INR 21,17,000
IIM Kashipur
INR 17,30,000
IIM Ranchi
INR 17,20,000
IIM Bodh Gaya
INR 9,60,000
IIM Sambalpur
INR 13,05,000
IIM Trichy
INR 19,50,000
IIM Amritsar
INR 12,50,000
IIM Visakhapatnam
INR 8,92,000
IIM Nagpur
INR 9,45,000
IIM Sirmaur
INR 7,87,000
IIM Jammu
INR 8,57,000
While the MBA fees in IIM might feel overwhelming, you can always opt for an education loan for IIMs which is provided by many banks and NBFCs in a hassle free manner.
MBA Course Fees in IITs
IITs offer MBA programs with fees ranging from INR 5 lakh to 15 lakh. These programs combine technical expertise with management skills. These institutions provide a unique blend of engineering and business education, preparing students for leadership roles in diverse industries while offering a cost-effective option compared to other premier B-schools.
Yes, an MBA is expensive if you wish to go for a good college, but that's not entirely true. There are some highly sought after MBA colleges but with economical fee structure. Here is a list of top MBA colleges with low fees:
Due to its affordability and flexibility, online MBA has become quite popular these days, especially among the working class because they don't have to leave their regular job to gain another degree.
Let’s see some of the most popular colleges providing online MBA course and their fees:
The MBA admission process typically involves the following steps:
1. Know Your MBA Entrance Exams
Familiarize yourself with the different entrance exams required for MBA admissions, such as CAT, XAT, MAT, GMAT, and others. Each exam has specific requirements and dates, so ensure you are well-prepared.
2. Track Application Dates
Keep a close eye on the application opening and closing dates for the MBA programs you are interested in. Each institution may have different deadlines, so mark them in your calendar.
3. Fill Out the Application Forms
Visit the official website of the college or entrance exam board to access and complete the application forms. Provide accurate personal, educational, and professional details as required.
4. Register for MBA Entrance Exams
Once you know the relevant exams for your chosen colleges, register for those entrance exams. Ensure that you meet the eligibility criteria before applying.
5. Review and Submit Your Applications
Before submitting, double-check all details in your application forms, including personal information, academic history, and any uploaded documents, to avoid errors. Submit the forms within the given deadlines.
6. Apply to Multiple Colleges
To increase your chances of admission, apply to several MBA programs. This approach helps you explore multiple opportunities and ensures a higher probability of securing a seat.
7. Prepare for Group Discussion & Personal Interviews (GD/PI)
After qualifying the entrance exams, many institutions require you to participate in GD and PI rounds. Begin preparing for these stages by practicing common interview questions and topics.
8. Wait for Results and Admission Offers
After completing the GD/PI rounds, wait for the results and admission offers from the respective colleges. Be mindful of deadlines for confirming your admission.
9. Confirm Your Admission and Pay Fees
Once you receive an offer, confirm your seat by paying the required admission fees within the stipulated time frame. Some colleges may also require document verification at this stage.
The eligibility criteria for MBA courses in India and abroad are crucial factors for admission consideration. Candidates must meet specific requirements to qualify for these programs. Here is an exhaustive list of eligibility criteria for MBA courses in India and abroad.
Criteria
India
Prestigious Institutions (IIMs and IITs)
Abroad
Graduation Degree
Bachelor's degree in any discipline from a recognized university under the 10+2+3 or 10+2+4 pattern.
Minimum three-year bachelor's degree from a recognized university with 50% marks (45% for SC/ST/PWD).
Recognized bachelor's degree; typically requires a competitive GMAT or GRE score.
Minimum Marks
Minimum 50% marks (45% for SC/ST/PWD) or equivalent CGPA.
Minimum overall grade point average of 50% (45% for SC/ST/PWD).
Varies by institution; typically 50-60% minimum marks in undergraduate degree.
Entrance Exam
Must have appeared in exams like CAT, MAT, CMAT, ATMA, XAT, GMAT, or State Entrances.
Required to take CAT or other equivalent entrance exams (for specific programs).
Competitive GMAT or GRE scores are usually necessary.
Work Experience
Not always mandatory but can be beneficial for some programs.
Programs like PGPX at IIMs may require 4-7 years of work experience.
Some universities prefer 2-5 years of work experience, though not always mandatory.
English Language Proficiency
N/A
N/A
Must demonstrate proficiency through TOEFL or IELTS.
Statement of Purpose (SOP)
N/A
N/A
SOP outlining academic and professional goals may be required.
Specific Requirements
Depends on the specific program or institution.
Additional requirements vary based on the institution and program.
Varies by university, so research is essential for each institution's criteria.
Additional Points
Scholarships and financial aid may be available based on merit or financial need.
Work experience may enhance application prospects.
International universities may offer diverse MBA specializations and flexible study options.
These eligibility criteria serve as a guideline for prospective MBA students, ensuring they meet the necessary academic and professional standards for admission into MBA programs in India and abroad.
Scholarships play a crucial role in supporting MBA students by offsetting the high cost of tuition. These scholarships can be merit-based, need-based, or institution-specific, providing financial assistance to deserving candidates. Researching and applying for scholarships early in the admission process can significantly alleviate the financial burden of pursuing an MBA. Some top scholarships available for MBA students in India and abroad include:
Scholarship
Region
Description
Aditya Birla Scholarship
India
Offered to students with outstanding academic achievements and leadership potential, this prestigious award supports exceptional MBA aspirants.
Kotak Mahindra Bank Scholarship
India
Awarded to students with a strong academic background and a clear career vision, providing financial aid to deserving MBA candidates.
Loreal India Scholarship
India
Aims to empower women pursuing an MBA by offering financial assistance, promoting gender diversity and inclusion in business education.
Tata Scholarship
India
Designed for students with a proven academic track record and a commitment to community service, supporting deserving candidates pursuing an MBA.
Ritchie-Jennings Memorial Scholarship
Abroad
A global scholarship supporting students pursuing anti-fraud education, offering financial aid to individuals dedicated to combating fraud in business.
Chevening Scholarship
Abroad
A prestigious award for future leaders, influencers, and decision-makers, offering opportunities for postgraduate studies in the UK.
AGSM Global Reach Scholarship
Australia
Supports international students pursuing an MBA, offering financial assistance to exceptional candidates seeking to enhance their management skills.
These scholarships represent a valuable opportunity for MBA students to access quality education, reduce financial barriers, and advance their careers in the competitive business landscape. By exploring and applying for these scholarships, aspiring MBA professionals can unlock academic and professional growth opportunities.
MBA Syllabus
The MBA syllabus covers many core subjects that provide a solid foundation in various aspects of business management. The core MBA subjects include:
Subject
Description
Accounting and Finance
Covers financial reporting, managerial accounting, financial management, and corporate finance.
Marketing
Topics include marketing management, consumer behavior, market research, and digital marketing.
Topics include leadership, motivation, organizational design, and HRM practices.
Strategic Management
Covers competitive strategy, business ethics, corporate governance, and international business.
Information Systems
Topics include management information systems, business analytics, and e-commerce.
Economics
Covers microeconomics, macroeconomics, and international trade.
Business Law
Topics include the legal environment of business, business ethics, and corporate governance.
MBA Syllabus: Semester Wise Breakdown
Semester 1
Semester 2
Corporate Social Responsibility
Macroeconomics
Microeconomics
Business Law
Principles of Marketing Management
Principles of Accounting
Operations Management
Optimization and Project Research
Tools and Framework of Decision-Making
Corporate Finance
Quantitative Methods and Statistics
Project Management
Business Communication and Soft Skills
Marketing Management
-
Organizational Behaviour 1
-
Organizational Behaviour 2
Semester 3
Semester 4
Supply Chain Management
Project Study
Financial Modelling
International Business Environment
Strategic Management
Strategic Management
Business Intelligence
Elective Course
Marketing Research
-
Managerial Economics
-
Corporate Governance and Business Ethics
-
Corporate Finance 2
-
These core subjects provide a comprehensive understanding of various aspects of business management, enabling MBA graduates to take on leadership roles in various industries. The syllabus may vary slightly depending on the institution and the specific MBA program. However, the core subjects remain the same, providing a solid foundation for a successful career in business management.
MBA Specializations
MBA programs offer a variety of specializations that allow students to focus on a particular area of interest and gain in-depth knowledge and skills. These specializations are designed to cater to the changing demands of the business world and provide students with the necessary expertise to excel in their chosen fields. Here are some of the top MBA specializations in India:
Specialization
Description
Finance
Focuses on financial management, accounting, investment analysis, and corporate finance. Ideal for careers in banking, investment, and financial consulting.
Marketing
Covers consumer behavior, market research, product development, and brand management. Suitable for careers in marketing, advertising, and sales.
Human Resource Management (HRM)
Equips students with skills in recruitment, training, performance management, and employee relations. Ideal for careers in HR and talent acquisition.
Operations Management
Focuses on supply chain management, logistics, quality control, and inventory management. Ideal for careers in operations and supply chain management.
Information Technology (IT)
Covers e-commerce, data analytics, and digital marketing. Suitable for careers in IT, data analytics, or digital marketing.
International Business
Focuses on global trade, cross-cultural management, and international marketing. Ideal for careers in international business and global management.
Entrepreneurship
Provides skills in business planning, financing, and marketing. Suitable for those aiming to start and run their own business.
Business Analytics
Focuses on data-driven decision making, data visualization, and predictive modeling. Ideal for careers in data analytics and business intelligence.
These are just a few of the top MBA specializations in India. The choice of specialization depends on the student's career goals, interests, and academic background. Choosing a specialization that aligns with the student's career aspirations and provides them with the necessary skills and knowledge to excel in their chosen field is essential.
MBA Scope: Placements & Salary
MBA Placements
MBA placements are essential to the MBA program, providing students with job opportunities in various sectors and industries.
Let’s see the placement records of some of the top MBA institutes in India:
Colleges
Average CTC 2024
Average CTC 2023
Average CTC 2022
IIM Calcutta
INR 36.21 LPA
INR 35.07 LPA
INR 34.20 LPA
ISB Hyderabad
INR 34.14 LPA
INR 33.25 LPA
INR 32.76 LPA
IIM Bangalore
INR 35.92 LPA
INR 35.31 LPA
INR 34.60 LPA
FMS Delhi
INR 48.4 LPA
INR 46.1 LPA
INR 43.7 LPA
SPJIMR Mumbai
INR 33 LPA
INR 33.02 LPA
INR 32.9 LPA
Here is another table showing the placements for 2024:
MBA graduates are highly sought after in various fields, including finance, marketing, human resources, operations, and consulting. According to September 2023 datafrom Glassdoor, the average salary for a new MBA graduate in India is ₹4,51,096. However, wages depend on various factors, including the role, company, prior experience, and location.
Let's have a look at the salaries of MBA graduates across various MBA specializations and sectors.
Information Technology, Healthcare, Financial Institutions, E-Commerce
5 - 10 LPA
Marketing
Business Marketing, Online Marketing, CRM, Advertising, Brand Management, Retail
7.5 - 8 LPA
Human Resource Management
IT, Law Firms, Advertising Firms, Retail Companies
6 - 7.5 LPA
Operations Management
Retail, Logistics, Hospitality, Transportation, Manufacturing, Construction
8 - 10 LPA
An MBA can be a powerful springboard to propel your career to new heights. This comprehensive guide has equipped you with the knowledge to navigate the exciting world of MBA programs in India, from deciphering fees to exploring specializations and career prospects.
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MBA programs, including Full-Time, Part-Time, Executive, and Online MBAs, vary to fit different professional needs. Each is tailored for different career stages and schedules, with Full-Time programs being the most immersive and Executive MBAs designed for experienced managers.
What is the average MBA salary package?
The average salary for MBA graduates varies widely, typically higher from top-tier business schools. Graduates from prestigious institutions can expect starting packages ranging from INR 20 to 25 lakhs annually, depending on the role and industry.
Can I get direct MBA admission without taking any entrance exam?
Direct MBA admission without an entrance exam is possible but uncommon. It is generally available under management quota in some private colleges. Most accredited programs require entrance exams like the CAT, MAT, or GMAT.
Can I do an MBA from IGNOU?
Yes, IGNOU offers a flexible and affordable MBA program suitable for working professionals and those seeking distance learning options. The program includes various specializations and is recognized for its academic rigor and practical relevance.
What is the main difference between an MBA and a PGDM?
The primary difference lies in accreditation: an MBA is a degree granted by universities recognized by the UGC, whereas a PGDM is a diploma offered by autonomous institutes and typically approved by AICTE. While both focus on developing managerial skills, their curriculum and structure might differ.
What is the total cost of doing an MBA?
The total cost of doing an MBA in India ranges from INR 15,000 to INR 35 lakh, influenced by location, institution, and specialization, reflecting the diverse fee structures available.
What is the MBA salary in India?
The average MBA salary in India is INR 90,000 to INR 1 lakh per month, translating to an annual salary of INR 7.71 lakhs. This demonstrates the lucrative earning potential for MBA graduates.
What is an MBA fresher salary?
The average MBA fresher salary in India is around INR 678,000 per annum, highlighting the competitive starting salaries offered to fresh MBA graduates entering the workforce.
How much does an MBA cost in India?
MBA fees in India are determined according to the college tier, college’s infrastructure, college fees, and placement opportunities. Generally, the highest MBA fee in Tier-1 business schools ranges from INR 19,00,000 – INR 30,00,000. IIM Fee Structure in top IIMs for MBA ranges from INR 15,00,000 to INR 28,00,000.
Why do MBA courses cost so much?
It is a known fact that top B-schools in the country (for instance, IIM), demand a much higher course fee as compared to average management institutions. The ‘Costlier’ Factor Getting an MBA degree from a top institute, and to some extent, from a mid-tier institute, too, means you have to shell out a hefty fee.
What are good MBA colleges with low fees?
Good MBA colleges with low fees are few: These are the Government University MBA departments or affiliated colleges. MBA at UBS Chandigarh is offered at Rs. 47,890 while an MBA at FMS Delhi of Delhi University is still offered at a fee of Rs. 20,960 for the entire MBA programme.
How much does an MBA cost in Delhi & Bangalore?
MBA Fees in Delhi and Bangalore less than 5 lakh fee are many: Delhi University; Guru Gobind Singh Indraprastha University Delhi; Bangalore University; VTU Bangalore University; are a few of the examples that offer MBA programmes at less than Rs. 4 lakhs.
What is the top college for MBA fees?
Some of the top colleges for MBA in terms of fees are IIM Ahmedabad, FMS Delhi, IIM Bangalore, IIM Calcutta, IIFT Delhi, etc.
Do companies in India sponsor candidates' MBA fees?
Yes, of course the company does. But it completely depends on the company the candidate works for and also the position the candidate is in.
Why are MBA fees in IIMs so high?
It's because IIMs mostly have a vast campus, with experienced professors, providing a lot of facilities to the students, etc. And IIM is the only institution which can place most of its students in abroad companies.
What is the MBA fee at SNU?
The MBA fee in Shivnadar University (SNU) is INR Rs. 7,85,000 for the first year and INR 6,35,000 for the second year.
How can a middle class family student pay MBA fees in IIM?
There are educational loan schemes offered by banks which support the middle class student to afford such high fees in IIM. There are also several state and other scholarship schemes available for students in India.
What are the MBA fees at Gandhi Institute of Technology and Management?
The fees for MBA at Gandhi Institute of Technology and Management in Visakhapatnam is around INR 7.2 Lakhs for 2 years.
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