India boasts numerous prestigious business schools beyond the Indian Institutes of Management (IIMs), offering exceptional placement opportunities and impressive compensation packages. Recent data from 2024 and 2025 highlights several non-IIM business schools that have achieved remarkable salary statistics for their graduates. Below is an overview of some of these top institutions:
1. Indian School of Business (ISB), Hyderabad and Mohali
ISB is a prominent B-school that consistently ranks among the top management schools globally. It offers a one-year full-time Post Graduate Programme in Management (PGPM) for professionals with at least two years of experience. The average package for ISB's flagship PGPM program is ₹34.07 LPA, with a program fee of ₹34.5 lakh. ISB has maintained its reputation as a leading B-school in India.
2. Faculty of Management Studies (FMS), Delhi
Established in 1954, FMS Delhi is renowned for its outstanding return on investment (ROI). The institution offers a full-time, two-year MBA program with an average salary of ₹34.2 lakh per annum (LPA) and a total program fee of approximately ₹2 lakh. The relatively low fee structure combined with high placement packages makes FMS a sought-after destination for MBA aspirants.
3. Management Development Institute (MDI), Gurgaon
MDI Gurgaon has consistently ranked among India's premier business schools. In 2024, the institute reported the highest Cost to Company (CTC) of ₹63.3 lakh and an average package of Rs 28.54 Lakhs. The curriculum is noted for being top-notch and in sync with industry requirements.
4. Shailesh J. Mehta School of Management (SJMSOM), IIT Bombay
SJMSOM, under IIT Bombay, offers a two-year full-time Master of Business Administration (MBA). The institute reported the highest CTC of ₹38.29 lakhs, with an average CTC of ₹28.01 lahks and a median CTC of ₹26.73 lakh for the batch of 2022-24.
5. Great Lakes Institute of Management, Chennai and Gurgaon
Founded in 2004, Great Lakes offers a one-year full-time Post Graduate Programme in Management (PGPM) for professionals with over two years of experience. The institute has an average salary of ₹17.86 LPA, with a program fee of ₹20.75 lakh.
6. Xavier School of Management (XLRI), Jamshedpur
Founded in 1949, XLRI is one of the oldest B-schools in India, renowned for its Human Resource Management program. It offers a two-year full-time MBA program with an average salary of ₹30.7 LPA and a program fee of approximately ₹25 lakh.
7. Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai
Known as the "CEO Factory of India," JBIMS offers a two-year full-time Master in Management Studies (MMS) program. The institute reports an average salary of ₹27.63 LPA, with a program fee of ₹6 lakh.
8. Institute of Management Technology (IMT), Ghaziabad
Established in 1980, IMT Ghaziabad offers a two-year full-time Post Graduate Diploma in Management (PGDM). The institute has an average salary of ₹15.28 LPA, with a program fee of approximately ₹20 lakh.
9. S.P. Jain Institute of Management and Research (SPJIMR), Mumbai
Established in 1981, SPJIMR offers a two-year full-time Post Graduate Diploma in Management (PGDM). The institute boasts an average salary of ₹32.05 LPA, with a program fee of ₹23 lakh.
10. Symbiosis Institute of Business Management (SIBM), Pune
Established in 1978 under Symbiosis International (Deemed) University, SIBM Pune offers a two-year full-time MBA program. The institute reports an average salary of ₹23.07 LPA, with a program fee of ₹25.5 lakh.
11. Tata Institute of Social Sciences (TISS), Mumbai
Established in 1936, TISS offers a Master's program in Human Resource Management and Labour Relations. The institute reports an average salary of ₹26.31 LPA, with a nominal program fee of ₹1.85 lakh. TISS's focus on social sciences and human resources makes it a unique institution in the management education landscape.
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