Getting admission to a top MBA college is a major goal for students who want to build a career in management. However, not every candidate can secure a seat at the Indian Institutes of Management (IIMs) or other highly competitive business schools. In such cases, Tier 2 management institutes can offer another option for students looking for an MBA from a recognised college.
Several private management institutes in India accept entrance exam scores from CAT, XAT, CMAT and NMAT. Popular options include Great Lakes Institute of Management, T.A. Pai Management Institute (TAPMI), Goa Institute of Management (GIM), K J Somaiya Institute of Management, IMI New Delhi and FORE School of Management.
These colleges offer management programmes with different admission requirements, course fees and placement records. However, students should compare these details carefully before selecting an institute. Here is a comparison of their entrance exams, fees, expected cutoffs, average salary packages and estimated return on investment (ROI).
Popular Tier 2 MBA Colleges in India
The following institutes are located in different cities and accept scores from national-level management entrance examinations.
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| College Name | City | Accepted Entrance Exams |
|---|---|---|
| Great Lakes Institute of Management | Chennai | CAT, XAT, CMAT |
| T.A. Pai Management Institute (TAPMI) | Manipal | CAT, XAT, NMAT |
| Goa Institute of Management (GIM) | Goa | CAT, XAT, CMAT |
| K J Somaiya Institute of Management | Mumbai | CAT, XAT, CMAT |
| International Management Institute (IMI) | New Delhi | CAT, XAT |
| FORE School of Management | New Delhi | CAT, XAT |
Students can apply to these institutes through different entrance examinations. This gives candidates more than one admission option if they have appeared for multiple management entrance tests. However, the accepted exams and admission rules may differ by programme and admission year.
Tier 2 MBA Colleges in India: Course Fees
The cost of an MBA is an important factor because students need to plan for tuition fees and other expenses before taking admission. Based on the provided figures, the total fees at these six institutes range from approximately INR 18.27 lakh to INR 21.34 lakh.
| College Name | Total Course Fees (Approx.) |
|---|---|
| IMI New Delhi | INR 21.34 lakh |
| Great Lakes Chennai | INR 21.20 lakh |
| K J Somaiya Mumbai | INR 20.87 lakh |
| TAPMI Manipal | INR 19.40 lakh |
| GIM Goa | INR 19.40 lakh |
| FORE New Delhi | INR 18.27 lakh |
IMI New Delhi has the highest listed fee at INR 21.34 lakh, while FORE School of Management has the lowest at INR 18.27 lakh. The difference between the two is around INR 3.07 lakh.
Although the fee difference may appear small compared with the overall investment, students should also check hostel charges, mess expenses, examination fees and other costs. The final amount payable may be different from the tuition fee mentioned in an admission brochure.
Average Salary Packages Offered by Tier 2 MBA Colleges
Placement figures help students understand the salary packages offered to graduates after completing their management programmes.
| College Name | Average Salary Package |
|---|---|
| Great Lakes Chennai | INR 18.10 LPA |
| IMI New Delhi | INR 17.01 LPA |
| TAPMI Manipal | INR 15.70 LPA |
| FORE New Delhi | INR 15.11 LPA |
| GIM Goa | INR 14.87 LPA |
| K J Somaiya Mumbai | INR 12.32 LPA |
Great Lakes Chennai has the highest average salary package among the six colleges at INR 18.10 LPA. IMI New Delhi follows with an average package of INR 17.01 LPA. TAPMI and FORE also report average packages above INR 15 lakh per annum.
K J Somaiya has the lowest average package in this comparison at INR 12.32 LPA. Students should remember that an average package is not the salary every graduate receives. Individual offers depend on factors such as job role, specialisation, skills, academic performance and previous work experience.
Expected CAT and XAT Cutoffs
Entrance exam scores play an important role in the admission process. Based on the estimates provided, candidates may need around 80–90 percentile in CAT or XAT to be considered by these institutes.
| College Name | Entrance Exam | Expected Minimum Percentile |
|---|---|---|
| IMI New Delhi | CAT/XAT | 85–90 |
| Great Lakes Chennai | CAT/XAT/CMAT | 85+ |
| TAPMI Manipal | CAT/XAT | 85 |
| GIM Goa | CAT/XAT | 85 |
| K J Somaiya Mumbai | CAT/XAT/CMAT | 83–85 |
| FORE New Delhi | CAT/XAT | 80–85 |
These figures are indicative estimates, not confirmed official cutoffs. Meeting a particular percentile does not guarantee admission or an interview call. Institutes may also consider academic records, work experience, entrance exam scores, interviews and other selection criteria. CMAT and NMAT scores should be checked against the respective institute's programme-specific requirements.
ROI of Tier 2 MBA Colleges
Return on Investment (ROI) helps students compare the money spent on an MBA with the average annual salary package received after graduation. In simple terms, it gives an estimate of how long it may take for a graduate's salary to equal the course fee.
| College Name | Total Fees | Average Salary | Estimated Fee Recovery Time |
|---|---|---|---|
| Great Lakes Chennai | INR 21.20 lakh | INR 18.10 LPA | 14.1 months |
| FORE New Delhi | INR 18.27 lakh | INR 15.11 LPA | 14.5 months |
| TAPMI Manipal | INR 19.40 lakh | INR 15.70 LPA | 14.8 months |
| IMI New Delhi | INR 21.34 lakh | INR 17.01 LPA | 15.1 months |
| GIM Goa | INR 19.40 lakh | INR 14.87 LPA | 15.7 months |
| K J Somaiya Mumbai | INR 20.87 lakh | INR 12.32 LPA | 20.3 months |
Great Lakes Chennai has the shortest estimated fee recovery period at 14.1 months. FORE School of Management and TAPMI follow at 14.5 and 14.8 months, respectively. K J Somaiya has the longest estimated recovery period at 20.3 months because its listed average salary is lower in comparison with its course fee.
Which Tier 2 MBA College Should You Choose?
Great Lakes Chennai stands out in this comparison for its average salary package and estimated ROI. FORE and TAPMI also offer competitive figures. However, the right college depends on a student's entrance exam score, budget, preferred location and career plans.
Before applying, candidates should check the latest official admission brochure and placement report of each institute. The fee recovery periods are only indicative calculations based on course fees and average annual salary packages. They do not account for taxes, living expenses, loan interest or other costs. Salary packages are generally CTC figures, not take-home pay.
Students should therefore consider the overall course cost, placement opportunities, programme specialisation and admission requirements rather than choosing a college based on salary figures alone.
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