MBA is one of the most sought after career options today in India and also one of the most expensive one as well. An average two year full time MBA or PGDM course at a premier B-school might cost you anywhere between Rs 15 to 18 lakh. Investing such a huge sum in one’s education without the assurance of a successful and lucrative placement can often lead to the dreaded ‘debt trap’.
But, it is not that all top B-schools in India offer highly expensive MBA programmes; there are many other MBA colleges and institutes that offer quality management education courses that will not burn a hole in your pocket. Such programmes are also great, when you consider the critical factor of ROI or Return on Investment. Below, we have listed the top 5 B-schools in India which offer affordable MBA programmes along with great ROI. Have a look at the list and decide if your dream B-school features on the list or not?
1. FMS Delhi – Tuition Fee - Rs 25,000
Think of affordable MBA colleges in India and the name of FMS Delhi surely features at the top of the list. Faculty of Management Studies, Delhi is an affiliate of the University of Delhi and offers two year full time MBA programmes. FMS Delhi holds the distinction of being the most affordable MBA college in the country with the tuition fee ranging around Rs 25000/-. Even after adding the boarding and lodging for two year, the overall cost of MBA education at FMS Delhi doesn’t exceed Rs 1 lakh, making it one of the most affordable B-schools of India.
As far as ROI is concerned, FMS Delhi has had an impeccable placement track record with high salary packages. In 2017, the average salary offered at FMS Delhi MBA Placement stood at Rs 20.60 lakhs. This also makes FMS Delhi the B-school with the best ROI in India. This is also one of the biggest factors that draw thousands of MBA aspirants to the B-school for admission process every year.
2. Department of Financial Studies, Delhi University – Tuition Fee – Rs 26,000
Another Delhi University constituent, the Department of Financial Studies is another reputed B-school that is very popular among MBA aspirants for offering affordable MBA programmes. Although not in the leagues of IIMs, FMS or XLRI, DFS also offers two year MBA programmes which are tailored for aspirants who are looking to build a career in finance or business economics domain. Currently, the B-school offers MBA in two specific domains i.e. Financial Management and Business Economics. The average tuition fee at DFS, DU is Rs 26,000/- only. In terms of MBA placements, the DFS, DU registered average placement package of Rs 10.90 lakhs per annum in 2017, which is excellent as far ROI is concerned.
3. Delhi School of Economics, Delhi University – Tuition Fee – Rs 36,000
Delhi University has several constituent B-schools which are known for quality management education and affordable fee structure and Delhi School of Economics is one of them. Fondly known by its abbreviated name DSE, the B-school offers two year full time programme in two specific domains i.e. International Business (IB) and Human Resource Development (HRD). The average tuition fee for 1 year is around 18,000/- taking the total for two year programme to Rs 36,000. Being a constituent of Delhi University, the boarding and lodging is also not that expensive and can be managed within the range of Rs 1 to 2 lakhs. MBA placements at DSE, DU are also remarkable and last year the average salary was recorded at Rs 8.25 lakhs.
4. Tata Institute of Social Sciences, Mumbai – Tuition Fee – Rs 1 lakh
Popular for offering CSR and MSW programmes, TISS is also a very popular B-school that provides a great MBA in Human Resource Management. Thanks to the low fee structure of around Rs 1 lakh for the two year programme, the B-school sees tough competition during the admission phase through TISSNET. As per recent estimates, the total cost of MBA programme at TISS is approx. Rs 2.38 lakhs which includes tuition fee and hostel charges. As far as placements are concerned, many top recruiters, especially from social or CSR domain visit TISS to hire management graduates. In 2017, the B-school recorded average salary of Rs 14 lakhs per annum.
Also Read: Top 5 MBA Colleges in North India
5. Department of Management Studies, Pune University – Tuition Fee – Rs 1.3 lakhs / 2.4 lakhs
Pune – the oxford of the east is host to many top MBA Colleges in India. However, when it comes to affordable MBA colleges, the name of PUMBA or Department of Management Studies, Pune University surely features at the top. Part of the reputed university, the B-school was one of the first MBA colleges to be established in the region and thereby has played the role of a pioneer in developing the scope of management education in Pune.
As far as affordability factor is concerned, PUMBA charges approx. Rs 1.3 lakhs from Maharashtra state candidates whereas Rs 2.42 lakhs from All India candidates for one year for the MBA programme, taking the total tuition fee cost for two year full time MBA course to Rs 1.3 lakhs. Being affiliated to Pune University, the MBA college sees footfall from a variety of top recruiters and corporates for MBA placement process. In 2016, the average salary offered at PUMBA stood at Rs. 5.27 LPA.
Pursuing MBA programme in India involves a high cost factor and therefore candidates who are running tight on the budget need to pick an affordable B-school that provides them quality education along with a respectable placement that justifies the ROI as well. The aforementioned MBA Colleges and B-schools do exactly that and thereby are making dreams of several poor MBA aspirants come true.
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Also Read: Top 5 MBA Colleges of Western India