Top B-Schools in India Offering Affordable MBA programs
Management courses and programs are important for both the working individuals as well as the fresh graduates. MBA degree shapes up career path and provides progression. Rising number of Indians have started pursuing MBA courses at B-schools for getting a good white-collar job.
MBA courses do need great amount of hard work but also require huge investments. The fees of top premier institutions like IIM’s could be as high as 16-20 lakhs. Despite scoring a high percentile this becomes a hindrance for students who want to pursue these courses and they end up taking hefty education loans.
Return on Investment (ROI) is very important when taking such a decision. However, this is not the case always. There are few B-schools which offer MBA courses with low fees and good placements. Such institutes tick all the boxes when it comes to quality education, low fee structure, impressive ROI, good placements and much more.
We have compiled a list of top 10 such B-Schools in India which offer affordable MBA courses with promising career prospects and placements.
- Faculty of Management Studies, FMS – Delhi
Established in the year 1954, the fee for a Two-Year Full-time MBA program in FMS is regulated by Delhi University (DU). The Faculty of Management Studies focuses on management education more than just business management. The commitment is thought leadership with a deep understanding of business. The approach here combines field tasks, case analysis and instrumented feedback with a strong emphasis on concepts and practical knowledge.
The fee for various programs is payable at the beginning of the academic year. The annual fee payable to Faculty of Management Studies, University of Delhi is approximately ` 10,000 for MBA program. The total cost for lodging, food for two years does not exceed Rs. 1 lakh.
FMS accepts CAT scores for admission to their courses. The cut off is around 98+ percentile.
FMS has an excellent placement record with average packages as high as 20.5 LPA.
- Department of Financial Studies, DFS – Delhi University
The Department of Financial Studies (DFS), under the prestigious Delhi University, has been an institution of learning for students who aspire to enhance their managerial efficacy in the field of finance. For the past two decades DFS has been providing the industry with competent, proficient and dedicated finance professionals who have honed their skills through a full-time two-year MBA (Financial Management) Program and MBA (Business Economics).
The selection here is also on basis of CAT percentiles and other procedures. The fee here is also low not exceeding Rs. 36000. The average package for placements here is Rs. 10.9 lakh Top recruiters for placements at DFS include Axis Bank, ICICI Bank, VISA among many others.
- Department of Management Sciences (PUMBA) – Pune University
Founded in the year 1971, PUMBA has since then come a long way. Being the official department for the MBA course in the Savitribai Phule Pune University has been an image booster for PUMBA. It has also helped add tremendously to PUMBA’s contribution in the field of management. With approximately 360 students, filtered through the Common Entrance Test (CET) from all over the country.
The fee structure here for the MBA program is around Rs 3 lakhs. The average placement packages for the batch 2017 were around Rs 6 LPA.
- Tata Institute of Social Sciences, TISS – Mumbai
The Tata Institute of Social Sciences (TISS) was established in 1936 as the Sir Dorabji Tata Graduate School of Social Work. In 1944, it was renamed as the Tata Institute of Social Sciences. Since its inception, the Vision of the TISS has been to be an institution of excellence in higher education that continually responds to changing social realities through the development and application of knowledge.
TISS Mumbai is known for its Human Resources Management program. The average package is around Rs. 14 lakhs. The fees structure is low and an entire MBA cost around Rs. 2.8 – 3 lakhs.
Admissions to TISS requires candidates to take the TISSNET exams.
- Jamnalal Bajaj Institute of Management Studies, JBIMS – Mumbai
JBIMS Mumbai has remained the most preferred campus for MBA aspirants due to its legacy, high industry connects, good placements and low fee structure and was considered moving much on the lines as FMS Delhi of Delhi University is doing. The fees for their flagship MMS program is increased to Rs. 6 lakhs from Rs. 2.4 lakhs.
However, now the JBIMS fee structure matches the fee of many private MBA/PGDM colleges who are not getting any aid and grants from the Government. Placement in 2018 at JBIMS has recorded an average salary of Rs. 18.91 LPA and highest salary of Rs. 30 LPA. The top recruiting companies at JBIMS include Accenture, McKinsey, Goldman Sachs, JP Morgan, ICICI Bank, Hindustan Unilever, P&G among many others.
- KJ Somaiya Institute of Management Studies and Research – Mumbai
In recent months, SPJIMR has enhanced student-faculty connect, launched Design Thinking across all programs, accelerated faculty development and stepped up engagement with alumni, corporates and other stakeholders.
The two year MMS program in KJ Somaiya costs Rs 2.05 Lakh. The full time MBA at SIMSR costs Rs. 11 lakhs which is on the higher side. All the programs at K J Somaiya are approved by AICTE, MHRD, Govt. of India and the University of Mumbai. Placement 2017 recorded an Average salary of Rs.9.19 LPA and highest salary of Rs.24 LPA.
- National Institute of Industrial Engineering, NITIE – Mumbai
Located in the heart of Mumbai, surrounded on three sides by lakes and curtained from the hustle and bustle of the city by the lush greenery is a beautiful campus that produces some of the best managers for the country every year, and has been doing so for the past 50 years. It is among the top B-Schools in India, and also offers an extremely affordable MBA course.
The students call it the God’s own campus and the world outside knows it as NITIE
The selection procedure is based on a cutoff of 98 percentiles and above followed by group discussion and personal interview. However, NITIE only admits graduate engineers to its MBA programs. The fee charges are approximately Rs 7 lakh for the two-year courses. Average placement salary recorded in 2017 was Rs. 16.60 LPA.
- Department of Management Studies (DMS), IIT Delhi – Delhi
A Two-Year Full-time MBA/PGDM costs Rs.8 lakh. Admission is secured on the basis of CAT score. Department of Management at IIT Delhi was established in 1997 spanning an area of 320 acres including 13 hostels. DMS IIT Delhi is approved by UGC, AICTE and NBA. The average placement salary went up to Rs. 16.21.
- Department of Management Studies, IIT Roorkee
DMS offers MBA specializations in Finance, Human Resource Management, Information Technology, Marketing and Operations Management. The current fee is around Rs 8.3 lakh for two-year PGDM courses offered by the institute. The average salary package picked up by students during placements in 2016 was Rs. 9.18 LPA.
- Shailesh J. Mehta School of Management (SJMSoM), IIT Bombay
The two year’s full-time flagship course Master of Management at SJMSoM costs around Rs 8.5 lakh. The admission to the courses is based on CAT examination. SJMSOM recorded an average placement salary of Rs. 17.63 LPA in 2017 and the top recruiters include Axis Bank, Accenture, Bisleri, Goldman Sachs and many others.
Pursuing a management courses gives better opportunities and options for professionals and students but the choice of course and institute matters a lot. The balance between quality education and returns on your investment will always be a crucial decision to be made.
This was our article on affordable MBA courses at some of the best B-Schools in India.