MBAUniverse.com B School Rankings 2024

Here are the key highlights from this year’s rankings:

• IIM Bangalore is Ranked #1 B-school in India. It continues to hold on to its leadership position from last two years, it had secured the #1 Rank for the first-time in the 2022 survey.
• Triple accredited IIM Calcutta has edged out much-celebrated IIM Ahmedabad to claim #2 rank.
• A breaking news from the survey is that IIM Kozhikode has climbed up to become the 4^th best B-school in India, up one rank from last year’s #5 rank.
• SPJIMR has unseated IIM Lucknow to claim #5 position, and is the top Non-IIM B-school on MBAUniverse.com Rankings 2024.
• Backed by tailwinds of the central role of technology in business today and growing popularity leading to higher applications (thanks largely to NIRF Rankings), IIT Delhi and IIT Bombay Department of Management Studies feature amongst top B-schools on our league table. Check details below.
• In spite of tough competition from IIMs and IITs, top PGDM B-schools like MDI Gurgaon, IMT Ghaziabad, IMI New Delhi, TAPMI, GIM Goa have earned coveted spots on our Ranking.
• IIM Mumbai (formerly, NITIE Mumbai) makes a strong debut at #11 on MBAUniverse.com Rankings 2024.
• After the 2^nd Generation IIMs (like IIM Udaipur, IIM Trichy) claiming top spots, now the 3^rd Generation IIMs (the ‘Baby IIMs’, like IIM Nagpur and IIM Amritsar) are fast breaking into the top league.

Before we reveal the Top 10 and Top 20 B-schools, it's crucial to understand how these ranks were arrived at - the survey methodology used in MBAUniverse.com Rankings 2024. Since 2010, MBAUniverse.com Ranking has used only hard "Objective Data" like placements, applications, CAT Cut Offs, International Acceditation etc., and has excluded any "Perception Surveys" as they often lack validity. Hence, this Ranking is based on hard data for a 360-degree evaluation between the three key elements of a B-school: Input (student quality & diversity), Processes (faculty, academics, research, and international accreditation) and Outcomes (career outcomes and entrepreneurship initiatives). Check our ranking methodology for specific weightages for these three parameters. 

Now, let’s check out who finds the place in Top 10, Top 10-20 and other tables of MBAUniverese.com Rankings 2024. 

Here is the list of the most coveted Top 10 B-schools in India! With top IIMs, and strong pedigree B-schools, Competition is super intense to be in this top table. IIM Bangalore is Ranked #1 B-school in India according to MBAUniverse.com Ranking 2024. IIM Bangalore is leading from the front on almost all aspects of management education: be it research & thought-leadership or student outcomes. IIMB has the best placements with highest average salary of Rs 35.31 LPA in the country. With 115 faculty members, who are admired subject experts, it has earned its top rank with an overall total score of 970, out of 1000.

IIM Calcutta, a triple-crown B-school with AACSB, EQUIS and AMBA accreditation, had moved up the rankings last year (Rankings 2023) to claim #2 rank, thus pushing IIM Ahmedabad to #3 rank. This year too IIM Calcutta has retained its top slot. It should be noted here that IIM Ahmedabad is yet to release its Placement 2023 data as on December 30, 2023. In past, IIMA audited placement report was available by September. This is one of the (avoidable) factors that leads to a lower ranking.

A breaking news from the survey is that IIM Kozhikode has climbed up to become the 4^th best B-school in India, up one rank from last year’s #5 rank. For one, it has the highest number of faculty – 151 – amongst all B-schools surveyed for this ranking, which ensured strong research outcomes. IIMK also continues to break new grounds when it comes to executive education. 

This is how with IIM Bangalore (IIMB), IIM Calcutta (IIMC), IIM Ahmedabad (IIMA) and IIM Kozhikode (IIMK) – the B C A K IIMs – complete the new ranking order, breaking the old one – the A B C L IIMs.

IIM Kozhikode is closely followed by SPJIMR Mumbai, which has unseated IIM Lucknow to claim #5 position. SPJIMR continues to excel in Career Outcomes for its students where it is ahead of all IIMs except BCA. It has improved its research outcomes in last few years, and also received AACSB accreditation, making it a more holistic competitor to top IIMs.

On the back of their strong performance on two of the three pillars of this ranking, students’ quality (input) and career outcomes, FMS Delhi (ranked #7) and IIFT New Delhi (ranked #9) have climbed up the rankings. MDI Gurgaon continues to occupy #10 rank, thus completing the top 10 table. 

Table 1: Top 10 B-schools in India, along with their total scores.

 Source: MBAUniverse.com Ranking 2024

Next up, ranked between 11-20 are some of the finest B-schools in India. This list includes, three IIMs, two IIT B-schools and a mix of PGDM and University B-schools. IIM Mumbai (formerly, NITIE Mumbai) makes a strong debut at #11 on MBAUniverse.com Rankings 2024. NMIMS Mumbai have moved up two ranks to #12 slot, from #14 last year.

IIT Delhi’s Department of Management Studies (ranked at #15) and Shailesh J. Mehta School of Management at IIT Bombay (ranked at #16) represent the rise of IIT MBA Programs in last few years owning to several factors.

Joining IITs on the elite list of Top 20 B-schools are a mix of PGDM and Private University B-schools, and a few IIMs. It is noteworthy that top PGDM B-schools like IMT Ghaziabad, IMI New Delhi and TAPMI have held on to their presence in this elite Top 20 list even as they face tough challenges.

Table 2: MBAUniverse.com Ranking 2024 - Top 11-20 B-schools in India

Source: MBAUniverse.com Ranking 2024

The next set of the B-schools, ranked No 21-35, are institutions with strong pedigree and consistent performance. IIMs including IIM Trichy, IIM Raipur, IIM Kashipur, and IIM Nagpur and leading PGDM B-schools including GIM Goa, IRMA, LBSIM, BIMTECH and Welingkar continue to make their presence felt in this cluster. Making a strong debut at #33 is Bangalore based Jagdish Sheth School of Management (JAGSoM). It has improved on almost all aspects that are studied in this ranking, particularly on quality of faculty and student outcomes.

Table 3: MBAUniverse.com Ranking 2024 - Top 21-35 B-schools in India

Source: MBAUniverse.com Ranking 2024

Given that there are more than 3000 management programs in India, getting into the Top 50 Rank on MBAUniverse.com Rankings is a big achievement by any yardstick. Afterall, top 35-50 B-schools represent the Top 2% of management programs in India. MDI Murshidabad, IIM Sambalpur, SIBM Bangalore, IMT Hyderabad and Rajagiri RCBC Kochi are ranked right at the top of this table. IMI Bhubaneshwar has made a remarkable progress climbing up by 14 ranks to get ranked amongst Top 50 B-school in India. NTPC School of Business Noida has made a strong debut at #50. Here is the full list…

Table 4: MBAUniverse.com Ranking 2024 - Top 36-50​ B-schools in India

Source: MBAUniverse.com Ranking 2024

Since 2010, MBAUniverse.com conducts its annual MBAUniverse.com B-school Ranking which is recognized as one of India’s most credible MBA Ranking and used by 150,000+ MBA aspirants for their MBA Admission decision. MBAUniverse.com Ranking USPs are:

• One of India’s most credible & ‘toughest’ Ranking: All top B-schools including IIMs, IIT- DoMs, PGDM B-schools, Top Public and Private Universities are ranked in this highly competitive Ranking. Since all major B-schools are ranked, a genuine comparison of all B-schools is possible.
• Quantitative Analysis, no role for ‘Perceptions’: Ever since the start, this Ranking is based purely on Quantitative Data without any weightage for ‘Perceptions’, making it a truly objective Ranking. Many other rankings have followed MBAUniverse.com ranking in this regard.
• Holistic Assessment Framework: Since its inception, this Ranking uses a holistic assessments framework that measures the triad of ‘Input’, ‘Process’, and ‘Outcome’ of a management school. Methodology is benchmarked to top Rankings like NIRF in India, and Financial Times internationally.

Ranking Methodology: Clusters & Weightage
Based on Factor Analysis, following weightages were derived and assigned to each of the three clusters.

Read complete MBAUniverse.com Rankings 2024 Methodology.

Top International Accreditations strengthen academic outcomes
As in past surveys and in line with growing importance of global accreditation, a definitive weightage was given to Top 2 International Accreditations i.e. AACSB and EFMD’s EQUIS. Survey notes that growing number of Indian B-schools featured in this ranking have earned these prestigious accreditations. At the time of publishing this survey, there are 22 AACSB accredited B-schools in India. Numbers for EFMD’s EQUIS are much lesser. No other International Accreditation was given any weightage