MBA Colleges in India: Let’s Bust the Myths and Accept Reality
MBA has become a popular course to pursue in recent times in India. One can come across a variety of MBA Colleges in India offering various courses. There are about 651 public and 3861 private business schools in India. The average annual salary after completing MBA in India hovers between 6-8 lakh INR. But, there are a few myths associated with management education in India. Here we will bust them about MBA Colleges in India.
MBA Colleges in India – Myth vs Reality
Let’s bust myths about MBA colleges in India and reveal the truth.
Myth: It is believed that MBA colleges in India still follow a redundant and orthodox MBA syllabus and structure. Many assume that an MBA degree at Indian colleges is not acceptable abroad and are outdated. People also think that the placements offered by management colleges in India are also not satisfactory.
Reality: But the truth is that MBA colleges in India have transformed themselves to a great extent recently. There is ample scope for research and practical-based learning. With the implementation of big data and analytics as a part of the curriculum and courses at top colleges in India, MBA education in this country is on par with abroad.
Some of the innovative specializations offered by Indian B-schools are – Business Analytics, Digital Marketing, Entrepreneurship, Healthcare, Hospitality, Travel & Tourism, Business Economics, Materials Management, Liberal Studies & Management, Sustainable Management, and many more.
MBA these days is more about finding new ways and techniques to learn. Notable professionals are invited as guest faculties to share their knowledge at the research and incubation centres of the college. These incubation centres also help students to improve their overall skills and increase industry networking.
Top MBA Colleges in India also has tie-ups with various International Colleges. Thus they organize Student Exchange Programs with those colleges to leverage learning further. It is a matter of joy that IIM Ahmedabad (40th), IIM Bangalore (44th), and ISB Hyderabad (99th) figures among top 100 b-schools in the world as per QS Rankings 2020. Many more colleges like SP Jain, FMS, MDI, XLRI, and others are catching up rapidly.
Why pursue an MBA in India?
Myth: It is believed that aspirants decide to study an MBA just to follow their peers and cousins who have already studied or are studying the course. It is believed that the MBA is pursued just to make a statement.
Reality: Actually, aspirants pursue an MBA to excel in management skills and pursue a career with a good salary. Yes, learning and placements are the actual motives to pursue management courses at MBA colleges in India. Here we will share the NIRF 2020 Rankings of top MBA schools in India along with their corresponding scores in Learning and Research parameters.
Top MBA Colleges in India: Learning and Research Ratings
The list of top 10 MBA colleges in India follows below:
|MBA Colleges||Rank (NIRF 2020)||Learning Score (NIRF 202)||Research Score (NIRF 2020)|
|Indian Institute of Management Ahmedabad||1||92.87||63.06|
|Indian Institute of Management Bangalore||2||91.46||57.43|
|Indian Institute of Management Calcutta||3||90.68||56.79|
|Indian Institute of Management Lucknow||4||86.93||48.58|
|Indian Institute of Technology Kharagpur||5||63.67||72.34|
|Indian Institute of Management Kozhikode||6||81.27||44.07|
|Indian Institute of Management Indore||7||83.18||43.42|
|Indian Institute of Technology Delhi||8||58.85||72.08|
|Xavier Labour Relations Institute (XLRI)||9||87.81||31.60|
|Management Development Institute||10||79.56||46.04|
In the above list, we can see IIT Kharagpur and IIT Delhi fares better than IIMs, XLRI and MDI in Research parameters. Otherwise, 6 IIMs figure in the top 10 list. The Learning and Research scores indicate that MBA colleges in India follow innovative techniques of learning and encourage enormous volumes of research initiatives in the field of management.
Scrolling below, you will also get an insight into the placements details of some of the top MBA colleges in India.
Top MBA Colleges in India: Placement Details
India boasts of some of the best MBA colleges which are recognized worldwide. These colleges offer excellent career outcomes to the students. Let’s check some of the facts and figures below:
- The average number of placement offers in some of the top MBA colleges in India hovers between 120 to 150.
- IIM Ahmedabad boasts of 114 placement offers this year, and the yearly average salary was 28.93 lakh INR.
- SPAIN Mumbai offered the highest package of 51 lakhs INR per annum, while the average package was 26.36 lakh INR per annum.
- NMIMS Mumbai offers about 540 seats for their MBA programs. The campus witnessed more than 180 recruiters this year.
The average annual MBA salary in India is 6-9 lakh INR.
Top MNCs and Indian Public Sector, as well as Private Sector companies, participate in these recruitment drives. We have listed down a few of the top recruiters – UBS, Hindustan Unilever, Bank of America, National Stock Exchange, Kotak Mahindra Group, Bharti Airtel, Barclays Capital, L’Oreal Paris, Reserve Bank of India, Boston Consulting Group, Bloomberg, and PricewaterhouseCoopers.
Return of Investment indicates how profitable the course is. Here we will also share the list of few colleges wand their ROIs below:
|MBA colleges in India||Average Fees||Average Annual Salary||ROI Rank|
|JBIMS Mumbai||INR 50,000||INR 18,13,000||1|
|FMS Delhi||INR 1,92,000||INR 25,00,000||2|
|XLRI Jamshedpur||INR 4,26,000||INR 22,35,000||3|
|Symbiosis Pune||INR 5,90,000||INR 17,48,000||4|
|SP Jain Mumbai||INR 9,30,000||INR 22,90,000||5|
|IIM Ranchi||INR 6,98,000||INR 15,09,000||6|
|MDI Gurgaon||INR 9,43,000||INR 20,13,000||7|
|IIM Lucknow||INR 7,13,000||INR 15,00,000||8|
|IMT Ghaziabad||INR 10,35,000||INR 12,50,000||9|
So, all the above facts and figures have clearly busted myths about MBA colleges in India and also the standard of management education here. Over here too meritorious students can easily earn between 6 to 12 lakhs INR annually. Students passing out from creamy colleges can earn 1 lakh INR per annum from the beginning.
Also, there are ample opportunities to research as well at some top Indian B-schools. MBA in the USA, Europe or Australia is prestigious as well, but you can not ignore the cost burden involved. MBA in the USA will easily cost between 170,000 to 200,000 USD (more than Rs.1 crore in Indian Currency). So, if you can get quality education in India itself and enjoy superb placements, why spend so hugely? Well, the rest of the decision is yours!