Remember watching the iconic movie 3 Idiots, where Aamir Khan played Ranchhoddas Shamaldas Chanchad AKA Rancho and motivated students to work hard and not simply rootify (learn something without understanding) at the fictional "Imperial College of Engineering" or ICE? Most of us are aware that the campus scenes in the film were shot at the Indian Institute of Management Bangalore (IIM Bangalore) in Karnataka. That was one inspiring movie which led many students to prepare sincerely for higher studies and emerge as best candidates in their respective fields.
Now, cut to 2026 and students who pursue a Master of Business Administration (MBA) in India are aware that they can land a job in any stream be it consulting, banking, finance, technology or corporate leadership. Although a lot of hard work is involved in preparing and studying for exams, one thing that becomes a barrier is the programme's fee, which ranges from approximately Rs 12 lakh to over Rs 30 lakh for an MBA course from a top institution.
Based on the official NIRF 2025 Management Rankings, India's top 10 management colleges, their MBA or equivalent postgraduate programme fees, average placement salaries and internship opportunities. Salary figures are drawn from the latest available placement reports, for the graduating batches of 2025 and 2026.
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Photo Credit: IIM Ahmedabad
No 1. IIM Ahmedabad | MBA Post Graduate Programme Fee: Rs 27.5 Lakh | Average Salary: Rs 37.97 Lakh Per Annum (2026) | Indian Institute of Management Ahmedabad is among India's most prestigious business schools, known for its case-study-based teaching methodology, academic rigour and corporate connections. Its flagship Post Graduate Programme in Management is a two-year, full-time residential MBA covering finance, marketing, operations, strategy and organisational behaviour.
Photo Credit: IIM Bangalore
No 2. IIM Bangalore | MBA Programme Fee: Rs 26 Lakh | Average Salary: Rs 35.35 Lakh Per Annum (2026) | Indian Institute of Management Bangalore offers a two-year residential MBA programme combining classroom instruction, analytical learning, management research and practical industry exposure.
The programme spans six trimesters and includes a summer internship between the two academic years. According to its 2026 placement figures for PGP and PGPBA students, the average annual salary package reached Rs 35.35 lakh, while the median stood at Rs 34.75 lakh.
Photo Credit: IIM Kozhikode
No 3. IIM Kozhikode | MBA Programme Fee: Approximately Rs 23.5 Lakh | Average Salary: Rs 28.18 Lakh Per Annum (2025) | Indian Institute of Management Kozhikode offers a two-year Post Graduate Programme designed to develop managerial, analytical and leadership skills.
The curriculum covers finance, marketing, strategic management, operations and organisational behaviour. Students can also participate in industry projects, internships and elective courses tailored to their professional interests.
Photo Credit: IIT DMS
No 4. IIT Delhi, Department of Management Studies | MBA Programme Fee: Approximately Rs 12–13 Lakh | Average Salary: Rs 22.52 Lakh Per Annum (2025) | The Department of Management Studies at the Indian Institute of Technology Delhi offers a two-year full-time MBA with a strong focus on technology-driven business management, innovation, analytics and strategic decision-making. The programme benefits from IIT Delhi's engineering and research ecosystem, making it particularly relevant for students seeking careers in technology consulting, operations, analytics and management.
Photo Credit: IIM Lucknow
No 5. IIM Lucknow | MBA Programme Fee: Approximately Rs 20.5–20.75 Lakh | Average Salary: Rs 33.2 Lakh Per Annum (2026) | Indian Institute of Management Lucknow offers a two-year Post Graduate Programme with special emphasis on management fundamentals, leadership development and business problem-solving.
The programme combines classroom instruction, case studies, group assignments and industry exposure. Students can pursue careers in consulting, finance, marketing, general management and operations. Summer internships provide experience with established companies before the final year. The institute's summer placement report for the 2024–26 batch recorded an average stipend of Rs 1.43 lakh per month and a median of Rs 1.50 lakh per month.
IIM Mumbai
No 6. IIM Mumbai | MBA Programme Fee: Rs 25 Lakh | Reported Average Salary: Approximately Rs 31.4 Lakh Per Annum (2026)
Formerly known as the National Institute of Industrial Engineering (NITIE), IIM Mumbai has a strong reputation for management education in operations, supply chain management, logistics and industrial systems.
The institute offers two-year MBA programmes, including specialised courses in Operations and Supply Chain Management and Sustainability Management.
Students benefit from industry-oriented projects and internships involving manufacturing, consulting, technology, e-commerce and financial services.
The 2026 placement exercise covered several MBA programmes and recorded a highest domestic package of Rs 71.4 lakh annually. The top 50% of the batch received an average package of approximately Rs 34.5 lakh, while broader placement compilations report an overall average of around Rs 31.4 lakh.
Photo Credit: Wikimedia Commons
No 7. IIM Calcutta | MBA Programme Fee: Approximately Rs 27 Lakh | Average Salary: Rs 36 Lakh Per Annum (2026) | Indian Institute of Management Calcutta is among the country's oldest management institutions and is particularly recognised for its finance, consulting, strategy and analytical management education.
Its two-year MBA combines management theory, quantitative methods, industry projects and electives. During the 2026 final placements, the institute reported an average annual salary of Rs 36 lakh and a median of Rs 35 lakh. The highest domestic offer reached Rs 1.45 crore annually, although such packages are not representative of typical graduate earnings.
Photo Credit: IIM Indore
No 8. IIM Indore | MBA Programme Fee: Approximately Rs 24.12 Lakh | Average Salary: Rs 29.57 Lakh Per Annum (2026, PGP and IPM Combined) | Indian Institute of Management Indore offers a two-year Post Graduate Programme that combines theoretical knowledge with experiential learning and corporate exposure.
The course follows a six-trimester structure covering finance, marketing, economics, human resources, operations and strategy.
Students undertake an eight-week summer internship between the first and second academic years to gain practical industry experience. The institute reported an average annual placement package of Rs 29.57 lakh for its combined PGP and Integrated Programme in Management graduating cohort, with the highest offer reaching Rs 82.5 lakh in 2026.
Photo Credit: Management Development Institute Gurgaon
No 9. Management Development Institute, Gurgaon | PGDM Programme Fee: Approximately Rs 26.55 Lakh | Average Salary: Rs 29.5 Lakh Per Annum (2026) | Although the institute does not offer a Graduation course, the Management Development Institute (MDI), Gurgaon, is a leading private business school offering a two-year Post Graduate Diploma in Management, an MBA-equivalent qualification recognised within the applicable regulatory framework.
According to the institute's 2026 final placement report, the flagship PGDM batch recorded an average annual compensation package of Rs 29.5 lakh and a median of Rs 29 lakh. Consulting, banking, financial services and consumer goods companies were prominent recruiters.
Photo Credit: Xavier School of Management Jamshedpur
No 10. XLRI – Xavier School of Management, Jamshedpur | PGDM Programme Fee: Approximately Rs 30.5 Lakh | Average Salary: Rs 31.4 Lakh Per Annum (2026) | XLRI Jamshedpur is one of India's established private management institutions, particularly known for its Business Management and Human Resource Management programmes.
The institute offers two-year postgraduate diploma programmes that blend classroom education, case studies, leadership development and industry-oriented learning. Summer internships are an integral part of the curriculum and allow students to gain experience across consulting, human resources, banking, technology and consumer goods sectors.
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