Not so long ago, myriads of students from India had been flocking to the United Kingdom and the United States with a purpose of getting a degree in business administration. Now, the things have radically changed, and many students stay at home and receive their degrees in their own country. Many of the Indian MBA programs are not solely recognized, yet quite less costly than those in Europe and the US, and some business schools, judged by their prestige, do not lag behind their European counterparts. Indeed, the tuition is mostly not as cheap as you may find in Mexico, yet you can be sure that you will get a good education with a recognized certificate.
You can find the best Indian MBA programns at the ISB, yet the tuition fees here are slightly lower than in Europe
- Indian School of Business (ISB). ISB is one of the most prestigious educational institutions in the country, which was the first Indian university to break into the ranking of the world’s best MBA programs compiled by the Financial Times, and it offers the MBA and the Executive MBA programs. The first program lasts 12 months, and you will master such subjects like entrepreneurship, finance, strategy and leadership, marketing, and operations management. The average GMAT score is higher than in many European business schools (704), yet the tuition fee does not lag behind either: you will have to pay 2,150,000 Indian rupees for the course, which is more than $32,000. The Executive MBA program lasts 15 months and costs over $50,000. By the way, it is not that much surprising that the biggest share of the school’s graduates work in consulting companies.
- Indian Institute of Management, Bangalore (IIMB). This is another prestigious business school that deserves to be in the upper part of the list. The average GMAT score here is also fairly high: 710 points. Moreover, the largest share of the alumni (28%) works in the consulting business, as well. The school has quite a wide selection of the Indian MBA programs: Post Graduate Programme in Public Policy & Management, Executive Post Graduate Programme in Management, Post Graduate Programme in Enterprise Management, and Post Graduate Programme in Management. The first two programs will be taught within 12 months, and each costs around $17,400 and $30,100 respectively. The other two programs last two years and cost in the range of $22,000 – $24,000.
- Indian Institute of Management, Ahmedabad (IIMA). This is a perfect place for studying for those people who will surely be engaged in the technology sphere later (or who are already engaged), and this proves the fact that 50% of the school’s alumni work for technology companies. This university is quite respectful, and it shows the following statistics: the average work experience of its students exceeds 8.5 years, whereas the Average GMAT score is at the level of 710. One of the Indian MBA programs offered at this university, called Post-Graduate Programme in Management for Executives (PGPX), costs almost $40,000 and lasts 12 months. The whole course is divided into four semesters, during which you will have to master a number of subjects, including Strategic Management, Mergers & Acquisitions, Corporate Finance, Financial Markets, and so on. Also, the program also gives you an opportunity to choose certain subjects from a wide range of electives.
- Management Development Institute (MDI). This university, located in the Indian city of Gurgaon, will be most suitable for those students who want to be proficient in Energy Management. Its Post Graduate Programme in Energy Management (PGP-EM) is one of the best programs in the field of energy management in India, and its advantages are the 12-month long course and a fairly low price of 750,000 Indian rupees (around $11,300). Another program is PGPM (Post Graduate Programme in Management) which focuses on such specializations as Strategy, Operations Management, Marketing, Information Management, and Finance. Its duration, however, is 24 months, whereas the tuition fee is around $17,000. Instead of applying for a full-time MBA, you can also apply for a part-time program that will last 36 months. Surprising, it costs even cheaper than the full-time MBA program: 750,000 rupees. For the fee of $17,000, the institute also offers such programs as Post Graduate Programme in International Management (PGP-IM; 24 months long) and Post Graduate Programme in Human Resource Management (PGP-HRM; 18 months long).
- International Management Institute. Located in the capital of India, this institute offers several Indian MBA programs at a fairly affordable price. The typical MBA program is called at this university as the Post-Graduate Diploma in Management, and it focuses on such specializations like Marketing, Finance, Operations, and Information Systems. The whole course will be taught within 24 months and its price is 1,170,000 Indian rupees (around $17,500). There is another program at the same price and with the same duration, which, however, specializes in preparing HR specialists, called Post-Graduate Diploma in Human Resource Management. Surprisingly, the MBA part-time program for working executives, which lasts 36 months (!), costs less than $7,000. The full-time program for executives (Executive PGDM) costs even less (432,000 rupees, or around $6,500) and lasts 15 months. So, here you get all what you need: a pretty prestigious university located in the capital and with affordable tuition fees.
- Indian Institute of Management, Lucknow (IIM). Studying at this university costs a little bit more than $8,000, which depends on the type of an MBA program, but yet it appears to be extremely cheap in any case. The university offers 4 different programs. In the first place, this place of studying is the most popular among those managers who are employed by agricultural companies, and it is not something surprising. The company has a special MBA program, called Post-Graduate Program in Agribusiness Management, which focuses on the subjects needed for management in agricultural companies and lasts 24 months. Yet, there are also two common MBA programs with the duration of 24 months (full-time) and 36 months (part-time). The International Programme in Management for Executives can boast a large number of foreign students as for an Indian university, and it lasts just 12 months. Yet, keep in mind that intakes for this program are set to be in April.