With high paying career options in management and entrepreneurship, MBA colleges in India have been moving higher on the popularity scale. There are numerous colleges which offer management programs in different streams across the country. Admission to MBA programs is granted on a candidate’s performance in management entrance exams such as CAT, MAT, XAT, SNAP and more. Check CAT 2019 Result
- Generally, the fee structure for MBA programs in government colleges is cheaper as compared to those in private institutions. Some of these universities and colleges (e.g. FMS, Delhi) offer world-renowned courses and are known as some of the top MBA colleges with the lowest fee structure in the world. Check FMS Delhi Admission Procedure Through CAT
- These colleges mostly offer MBA programs with tuition fees that range lower than 1 lakh, which offers a stark contrast to the tuition fees that are generally required for most MBA programs. Individuals who require additional aid to fund their tuition fees may also opt for the available scholarship options.
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For the convenience of aspirants, Collegedunia has come up with an exclusive list of colleges. Fortunately, there are good options available that are affordable and won’t necessarily burn a hole in every individual’s pocket. They offer good placements, are ranked well in the country, and have a good course structure.
Top B Schools with Affordable MBA Programs
Top B Schools that offer an Affordable MBA Program
- FMS (Faculty of Management Studies), Delhi
- Department of Financial Studies (DFS), DU
- Delhi School of Economics (DSE), DU
- Tata Institute of Social Science (TISS), Mumbai
- Department of Management Studies, Pune University (PUMBA)
- KJ Somaiya Institute of Management Studies and Research (KJ SIMR)
- Institute of Management (IIM BHU), BHU Varanasi
- Sydenham Institute of Management Studies, Research and Entrepreneurship Education (SIMSREE)
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A couple of the most cost effective colleges for obtaining an MBA are represented under the aegis of Delhi University. Some of the top MBA colleges in Delhi University are FMS (Faculty of Management Studies), DFS (Department of Financial Studies), and DSE (Delhi School of Economics). Percentile requirements for these institutions generally run high so candidates must aim high.
FMS, Delhi University
FMS (Faculty of Management Studies)
- Faculty of Management Studies (FMS, Delhi) i.e ‘Red Building of Dreams’, is one of the oldest B School institutions of the country. It is affiliated to Delhi University and comes under its aegis. It offers a full time two year MBA programme.
- The course fee is a paltry sum of Rs. 25,000, while the average starting salary package is 20.6 lakh a year, thus effectively making it the B School with the best ROI (return of investment) in the country.
- Getting admission to FMS is based on multiple factors. These include a group discussion, extempore speech, a personal interview, Class X and XII marks and finally the individual’s CAT Scores. Check CAT 2019 Selection Procedure
- Total expenses including living expenses should be around 1 lakh.
DFS, Delhi University
Department of Financial Studies, Delhi University
- Another component of Delhi University, the Department of Financial Studies is another affordable option for candidates. Ranking as one of the top MBA programmes in the country, DFS is a hub of stellar placements.
- The course fee is Rs 26,000 and an average starting salary is 10.9 lakhs a year thus branding it with a great ROI.
- There are two main specializations that the school offers in its MBA programmes, these are Financial Management and Business Economics
- Total expenses including living expenses should be around 1 lac.
DSE, Delhi University
Delhi School of Economics, Delhi University
- As one of the highest-ranking commerce institutions in the country, DSE is known to hold one of its own
- Even with the highest fee rate of any of the Delhi University constituents, DSE is still affordable with an annual fee of Rs. 18,000 resulting in the total fees Rs. 36,000. Average placement is between 8 to 10 lakhs.
- It mainly offers two MBA specializations, those being an MBA in International Business (IB) and an MBA in Human Resource Development.
- Total expenses should range from 1 to 2 lakhs.
For individuals who wish to pursue their MBA in Delhi, another favourable opportunity is the MBA programmes offered by Guru Gobind Singh Indraprastha University. There are 19 establishments under IPU that admit candidates for their MBA programmes on the basis of their IPU CET performance.
Tata Institute of Social Sciences (TISS), Mumbai
- Even though it is popularized for its social science courses, TISS also offers good management courses. It offers an MBA in Human Resource Management. The positions are highly coveted.
- It is a renowned college with 4 campuses spanning Mumbai, Hyderabad, Tuljapur, and Guwahati. In respect of HRM, it ranks second after XLRI.
- Fee structure overall includes a 1 lac tuition fee.
- As per 2018 estimates, the total cost for an MBA programme including boarding and accommodation was approximately Rs 2.38 lakhs.
- Average graduate salary is estimated to be 14 lakhs.
Department of Management Sciences, Pune University (PUMBA)
- Featuring amongst the oldest public universities in the country, Savitribai Phule Pune University's Department of Management Sciences offers many prestigious MBA programmes.
- The fee structure for the MMS course for Maharashtrian candidates amounts to 1.3 lakhs, while for all Indian candidates, it is slightly higher. Candidates that are from reserved categories ( SC / ST / OBC) are charged Rs. 32, 500 per annum. This roughly correlates to Rs. 65,000 for the whole course. Read CAT 2019 Reservation
- As per 2018 estimates, total living expenses ranged from 3-4 lakhs.
- As per 2016, the average placement salary was 5.27 lakhs per annum.
KJ Somaiya Institute of Management Studies and Research, Mumbai
- MMS programme offered by KJ Somaiya Institute of Management Studies and Research is a relatively affordable option as compared to their full-time MBA programme.
- KJ Somaiya is listed under the top B schools in the country and consistently holds a position in the top 25 management programs offered in any management establishment.
- Even though it is a private sector B School, all the programs offered by the school are approved by AICTE, Ministry of Human Resource and Development, Government of India and Mumbai University.
- Their course spans 6 trimesters and has a 50 per cent reservation present in its 121 seats for the Gujurati Linguistic Minority.
- The tuition fee is Rs 2.04 lakhs for the entire program.
Institute of Management,BHU
Institute of Management, BHU Varanasi
- Acclaimed as a revered university, Banaras Hindu University was established in 1916 and is one of the biggest centres of learning in the country.
- It includes a vast expansive campus, a warm and friendly environment, high institutional standards, state of the art facilities, and a rich student culture.
- IMS BHU offers a full-time MBA, an MBA with a specialization in Agri-Business Programme and MBA in International business.
- With tuition fees cornering around 1 lac, the total living expenses approximate around 2 lakhs including accommodation and boarding.
Sydenham Institute of Management Studies, Research and Entrepreneurship (SIMSREE)
- Founded in 1983, the Sydenham Institute of Management Studies, Research and Entrepreneurship Education (SIMSREE) is well known not only for its state of the art campus and facilities, but also for its top-ranked management courses.
- Masters of Management Sciences (MMS) course at SIMSREE has a total cost of 1.36 lakhs and the average placement salary is 10.92 lakhs.
According to the research conducted by Collegedunia, these are the most lucrative colleges that are currently offering an MBA programme in India based on their Return on Investment (ROI). They all hold a considerable reputation and are proclaimed as some of the top institutions in the country. To be duly accessible to all potential talent, these establishments have made sure that they are reasonably inexpensive.