Top MBA Under 10 Lakhs In India - Best Alternative In 2024

When we talk about an MBA degree here in India, the first thought that crosses the mind is IIM, so much so that an MBA in India has become synonymous to IIM and for all the right reasons. IIMs offer world class education and almost all of them are the top ranking B-Schools of India. However, this educational excellence is obtained at a very high cost. The fees for an MBA degree at IIMs range from INR 15-25 lakhs.

Also, getting into an IIM is not at all an easy task. In fact, the IIM entrance exam (CAT) is one of the most difficult management entrance exams in the world. Again, even if you get into an IIM, being able to afford around 30 lakhs for the degree can be quite a tedious task for many. You need not worry though, as there are several B-Schools in India that offer MBA programs under 10 lakhs fee bracket. 

Some of these colleges are even at par with the IIMs in terms of quality of education and the expertise of the faculty. The placement at some of these colleges is quite impressive against the fees that they charge, which makes these colleges with an ROI even better than that of the IIMs. Top Courses | IIM Online Courses! 

This blog mentions some of the top universities offering the most sought after PG course- MBA (offline as well as online) at an affordable budget of less than 10 lakh rupees.  

Top MBA Colleges Under 10 Lakhs Fees

Contrary to the popular opinion that a good MBA college requires at least 15-20 lakhs rupees, some Indian B-Schools offer excellent MBA programs under 10 lakhs fee structure. Following is an extensive list of some of the best ones: 

College Name	Course Name	Total Fees
MBA Under 10 Lakhs
IIT Roorkee	MBA	9.67 lakhs (with hostel & mess)
MIT World Peace University	MBA	9.1 lakhs
Amity University Noida	MBA Logistics & Supply Chain Management	5.6 to 6 lakhs
Birla Institute of Technology and Science (BITS), Pilani	MBA in Business Analytics	5.08 lakh
Doon Business School, Dehradun	MBA	6.75 lakhs
Gems B School	MBA in Digital Marketing	5.4 lakhs
MBA Under 5 Lakhs
FMS (Faculty of Management Studies), Delhi	MBA	2 lakhs
Tata Institute of Social Sciences (TISS), Mumbai	MBA	1.85 lakhs
JBIMS, Mumbai	MBA	3 lakhs
Department of Management Studies, Pune University (PUMBA)	MBA	1.33 lakhs
Delhi Technical University (DTU), Delhi	MBA	4.12 lakhs
SIMSREE, Mumbai	Master of Management Studies (MMS)	1.36 lakhs
Christ University	MBA	4.75 lakh
International School of Management and Research (ISMR)	MBA	3 lakh
Indira Institute of Management Pune	MBA	4.5 lakhs
Chandigarh University (CU)	MBA Tourism and Hospitality Management	4.4 lakh
Indira Institute of Management (IIMP)	MBA	4.5 lakh
ASM’s Institute of Business Management and Research (IBMR)	MBA	3.5 lakh (for Govt. Quota)
Amity University	MBA Agriculture and Food Business	2.4-3.6 lakh
AIMS Institute of Management Studies	MBA	3.95 lakh
Doon University, Dehradun	MBA	1.56 lakh
Galgotias University (GU)	MBA Logistics & Supply Chain Management	3.30 lakh
BK School of Business Management	MBA	24,000
Maharshi Dayanand University (MDU)	Master of Hotel Management and Catering Technology	53,694 (+other university charges)
Prin. L. N. Welingkar Institute of Management Development & Research, Mumbai	PGP Media and Entertainment Management	4 lakh
Institute of Management Studies, BHU	MBA in International Business	99,288
Ambedkar University, Delhi	MBA/PGDM	3 lakh
MBA Under 1 Lakh
Delhi School of Economics, University of Delhi	MBA IB and MBA HRD	INR 31,392/-
Institute of Management Studies, Banaras Hindu University (BHU)	MBA in International Business	INR 99,288/-
Jamia Millia Islamia (JMI)	MBA	INR 47,000/-
BK School of Business Management	MBA	INR 24,000/-
L.N. Welingkar Institute of Management Development and Research	PGP Foreign Trade Management	INR 94,400/-
Maharshi Dayanand University (MDU)	Master of Hotel Management and Catering Technology	INR 53,694/- (+other university charges)
University Business School, Chandigarh- Panjab University	MBA	INR 34,630/-
Garware Institute of Career Education and Development, University of Mumbai	PGDM Hospital Administration	INR 60,000/-
YMCA- New Delhi	PGD Aviation & Tourism Management	INR 71,350/-
Indian Institute of Social Welfare and Business Management- IISWBM	PGD Supply Chain and Logistics Management	INR 1,10,000/-
Department of Management Studies, Anna University	MBA	INR 98,730/-

Top 5 MBA Colleges with the Best ROI

The return on investment (ROI) is the most important factor that needs to be carefully considered and researched before taking admission into a B-School. Pursuing an MBA is a big investment in terms of money and time. So, it becomes crucial choosing a B-School because you should be getting the right value for your money. Also Read | Is MBA Worth It? 

To calculate the approximate ROI, you need to know the total fees that you will be paying to the university and an idea of the package that you will get after completing your degree from that particular college.  You can look at the placement records of the college to know the average package and the highest package that the university has received over the years. 

With these records, you will get a fair idea of the package that you can get. If there is a considerable difference between the fees paid and the package earned, then you are getting a good ROI and a value worth your time and money. 

The table below gives some of the B-Schools in India offering the best possible ROI on their MBA programs. 

College Name	Total Fees	Average Package
Delhi School of Economics, University of Delhi	INR 31,392/-	INR 14.50 LPA
FMS, Delhi	INR 2 lakhs	INR 23.2 LPA
TISS, Mumbai	INR 1.85 lakhs	INR 20.06 LPA
JBIMS, Mumbai	INR 3 lakhs	INR 17 LPA
IIT Roorkee	INR 9.67 lakhs (with hostel & mess)	INR 18.34 LPA

However, this is not that simple as it seems. There are other very important factors that come into play as well. The factors like if you are a working professional, then are you getting a good hike from your current CTC, after the 2 years of MBA or not? And if taking a 2-year break from your job is worth it? Whether the loss of 2 years worth of salary is wise or not? 

For instance, you are currently working at a salary of 3 LPA and if you continue to work for two more years, then you get a hike of 2 LPA. So, after 2 years your salary goes from 3 to 5 LPA. Now, rather than working for these two years, you decide to pursue an MBA. For these two years you have to leave your job and at the same time pay fees of 4 lakhs.

Top IIM Online Specialization In India
IIM Online Certificate In Digital Marketing and Analytics	IIM Online Certificate In Project Management
IIM Online Certificate In Data Science and Analytics	IIM Online Certificate In Finance Management
IIM Online Certificate In Advance HR	IIM Online Certificate In Leadership and Management
IIM Online Certificate In Supply Chain & Logistics	IIM Online Certificate In Operations & Six Sigma
IIM Online Certificate In Financial Data	IIM Executive MBA
IIM Certificate Course Online	IIM Courses Online

Now after completing the degree, you get placed at a package of 10 LPA. So, your salary goes up from 3 to 10 LPA by spending 4 lakhs and losing 6 lakhs of salary. So in a nutshell, you spend 10 lakhs in these two years but you earn it back within a single year through your placement and the following year earn you profits. 

However, if you are getting placed at a package of only 5 LPA after completing your MBA, then it might not be worth it. This is because you would have already earned that much hike by continuing the job and you do not have to pay the college fees also. 

So, you have to be very judicious and conscious while making the decision. You should thoroughly research and then only make an informed decision.   

Top Online MBA Programs Under 10 Lakhs

One good way to obtain great ROI on your MBA degree is an online MBA. There are numerous myths and rumours claiming that online MBA degrees are not valid or credible or as good as the degree obtained through an on-campus program. 

However, this is not entirely true. An online MBA obtained from an approved and top ranking MBA has proven to be better than pursuing it offline from a low ranking college. Unlike the popular opinion, online MBA has commendable merits. Before moving on to the benefits of online MBA, let us first look at some of the top colleges offering online MBA at affordable fees and high ROI. 

Name	Latest NIRF Ranking	Approx. Fee (may vary)
Amity University Online, Noida	28	INR 1.8 lakhs
Amrita Vishwa Vidyapeetham Online	30	INR 1.7 lakhs
Lovely Professional University (LPU) Online	32	INR 1.52 lakhs
Chandigarh University Online	36	INR 2 lakhs
UPES Online	39	INR 1.5 lakhs
Birla Institute of Technology (BIMTech) Online	48	INR 2.75 lakhs
Kalinga Institute of Industrial Technology (KIIT) Online	59	INR 1.6 lakhs
Chitkara University Online	64	INR 2 lakhs
Manipal University Online Jaipur	79	INR 1.66 lakhs
Jain University Online Bangalore	85	INR 1.5 lakhs

What are the Benefits of Online MBA?

The foremost benefit of online MBA degrees is that they are very affordable. You will be able to pursue your MBA under 5 lakhs and even under 1 lakh rupees. So, usually the ROI offered by an online MBA is quite high. 

Another benefit is the flexibility that the online mode offers. You are able to pursue the course at your own pace and comfort. This gives you time to engage in other professional endeavours. The flexibility along with easy accessibility helps you keep a good balance between your personal, professional and academic life, if you are a working professional. 

One great benefit is that online MBA lets you pursue MBA from prestigious institutions as you can easily get an admission without the hassle of sitting in an entrance exam. Eligible candidates get direct admission to the course based on their merit in their last qualifying examination and work experience (if required). 

Online MBA programs not only enhance digital literacy by integrating technology into the learning experience but also encourage the immediate application of acquired knowledge in students' current roles, fostering tangible benefits. 

The incorporation of adaptive learning technologies ensures individualised learning paths, allowing students to progress at their own pace. 

Furthermore, online MBA programs prioritise soft skills through virtual collaboration tools and group projects, preparing students for the nuanced demands of modern workplaces. 

The inclusion of real-time business cases keeps the curriculum dynamic, exposing students to the latest industry trends. 

Additionally, these programs offer unique and in-demand specialisations, catering to the specific needs of diverse sectors, such as Data Analytics and Social Media Marketing. 

Finally, the global nature of online MBA cohorts provides extensive networking opportunities, facilitating international collaboration and a broader perspective on business issues.   

How to do an MBA under 10 Lakhs?

The admission procedure for an MBA program under 10 lakhs in India may vary slightly among different universities and business schools. However, here is a general outline of the steps commonly involved in the MBA admission process in India:

• Appear for Entrance Exams: Most MBA programs in India require candidates to take national or state-level entrance exams such as CAT (Common Admission Test), MAT (Management Aptitude Test), XAT (Xavier Aptitude Test), or others. Register for the chosen entrance exam and prepare accordingly.
• Score Acceptance: Check the minimum required score for the MBA programs you are applying to. Different institutions may have different score requirements.
• Application Form Submission: Complete and submit the online application form of the chosen MBA programs within the specified deadline. Provide accurate information regarding educational background, work experience, and other details.
• Application Fee: Pay the application fee as per the instructions provided by the respective institution.
• Shortlisting for GD/PI/WAT: Based on the entrance exam scores and application, some institutes may shortlist candidates for the next rounds, which may include Group Discussions (GD), Personal Interviews (PI), or Written Ability Test (WAT).
• Prepare for GD/PI/WAT: If shortlisted, prepare for group discussions, personal interviews, or written ability tests. Research current affairs, industry trends, and have a good understanding of your academic and professional background.
• Participate in GD/PI/WAT: Attend the scheduled group discussions, personal interviews, or written ability tests as per the notification from the respective institutes.
• Final Selection: Institutes will consider the overall performance, including entrance exam scores, GD/PI/WAT performance, academic background, and work experience (if any) for final selection.
• Offer of Admission: Successful candidates will receive an offer of admission from the respective institute.
• Acceptance and Fee Payment: Accept the offer of admission and pay the required fees within the stipulated time to secure your seat.
• Document Verification: Candidates need to submit relevant documents for verification. This may include educational certificates, mark sheets, entrance exam scorecards, and other necessary documents.
• Orientation and Registration: Attend the orientation program provided by the institute and complete the registration process.

For Online MBA

For admission to an online MBA program, the procedure is very simple. It does not involve so many of the complex steps described above. The only criteria is that the applicant should fulfil the required eligibility criteria as laid down by the respective online universities. 

The eligible candidates only have to accurately fill the online application form for the course of tier choice. Following this, they need to upload certain documents for their eligibility verification. Finally, they have to pay the online application fees. The university verifies the eligibility of the candidates and then admits them to the university accordingly via mail.  

It's essential to note that the specific steps and requirements may vary, so it's advisable to carefully check the admission guidelines provided by the respective MBA programs and institutes you are interested in.

Entrance Exams for MBA Under 10 Lakhs

Following are 10 of the top management entrance exams in India. Some of these are central level entrance exams, while some are state level, and others are university level entrance examinations.   

• CAT (Common Admission Test)
• MAT (Management Aptitude Test)
• XAT (Xavier Aptitude Test)
• CMAT (Common Management Admission Test)
• SNAP (Symbiosis National Aptitude Test)
• NMAT (NMIMS Management Aptitude Test)
• IIFT (Indian Institute of Foreign Trade) Exam
• ATMA (AIMS Test for Management Admissions)
• TANCET (Tamil Nadu Common Entrance Test)
• MICAT (Mudra Institute of Communications, Ahmedabad Admission Test)

Eligibility Criteria for MBA under 10 Lakhs

Eligibility criteria for admission to MBA programs in India can vary slightly among different universities and business schools. However, there are some common requirements that are often considered. Keep in mind that these criteria might change, so it's advisable to check with the specific institutions you are interested in. Here are general eligibility criteria:

Educational Qualifications:

• A bachelor's degree in any discipline from a recognized university.
• Usually, a minimum of 50% aggregate marks (may vary) in the qualifying degree. Some institutes may accept candidates with a lower percentage based on other criteria.

Entrance Exams:

• Many MBA programs in India require candidates to take a relevant entrance exam. The Common Admission Test (CAT), Xavier Aptitude Test (XAT), Management Aptitude Test (MAT), Common Management Admission Test (CMAT), and Graduate Management Admission Test (GMAT) are some of the popular exams.
• Candidates are required to score above the minimum cutoff set by the respective institutions.

Work Experience (if applicable):

• Some MBA programs prefer candidates with prior work experience, especially for executive MBA programs.
• The work experience requirement varies, with some programs requiring a minimum number of years of experience.

Group Discussion (GD) and Personal Interview (PI):

• Many institutes conduct group discussions and personal interviews as part of the selection process.
• These sessions evaluate communication skills, leadership qualities, problem-solving abilities, and other interpersonal skills.

Statement of Purpose (SOP) or Essays:

• Some institutes may require candidates to submit a Statement of Purpose or essays explaining their career goals, reasons for pursuing an MBA, and other relevant details.

Letter of Recommendation:

• Some MBA programs may ask for letters of recommendation from professors or employers.

Specialization Requirements:

• Some MBA programs may have specific eligibility criteria based on the chosen specialisation.

It's crucial to check the specific requirements of the MBA programs you are interested in, as there can be variations in eligibility criteria across different institutes. Additionally, keep an eye on any updates or changes in the admission criteria by referring to the official websites of the respective institutions.

For Online MBA Under 10 Lakhs

The eligibility criteria for online MBA under 10 lakhs can again be varied for different universities. However, the variation is quite little. The general eligibility criteria is:

• The applicant should have completed an undergraduate degree in any discipline with at least 50% aggregate marks, and from a recognised university. 
• The applicant should have work experience if the university mandates the course for working professionals only. Otherwise, freshers can also apply.  

Top Specialisations for MBA under 10 Lakhs

Management is a vast field and a lot of specific industries are under its umbrella. In India, some of the top specialisations for MBA under 10 lakhs are as follows: 

• Finance: Focuses on financial management, investment analysis, banking, and risk management.

• Marketing: Concentrates on brand management, advertising, market research, and sales.

• Human Resource Management (HRM): Deals with talent acquisition, employee engagement, performance management, and organisational development.

• Operations Management: Involves supply chain management, logistics, quality control, and process optimization.

• Information Technology (IT) Management: Focuses on the management of technology resources, IT strategy, and information systems.

• International Business: Covers global business strategies, international marketing, and cross-cultural management.

• Entrepreneurship: Designed for individuals interested in starting and managing their own businesses.

• Business Analytics: Involves the use of data analysis and statistical methods to make informed business decisions.

• Healthcare Management: Concentrates on the management of healthcare organisations and systems.

• Rural Management: Addresses the unique challenges and opportunities in rural development and management.

• Supply Chain Management: Focuses on the efficient planning and management of the supply chain from production to delivery.

• Retail Management: Involves the management of retail businesses, including merchandising and customer relations.

• Agribusiness Management: Concentrates on the business aspects of agriculture, including agri-marketing and rural development.

• Energy Management: Deals with the management of energy resources and sustainable practices.

• Media and Entertainment Management: Focuses on the business aspects of the media and entertainment industry. 

Top Recruiters for MBA Colleges Under 10 Lakh 

Following are some of the big companies that actively hire MBA graduates from colleges offering their MBA under 10 lakhs: 

Conclusion 

I hope, with this blog, you were able to burst your myth that an MBA from a good college can only be done with more than 15-20 lakhs fees. This is far from reality. There are very good, reputed, and high-ranking colleges that offer an MBA under 10 lakhs fees. If you are able to get admission to such colleges with an exceptional score in your CAT or other entrance exams, then it is a really great opportunity. 

However, if you do not get through the entrance test, then there is nothing much to worry about because you have an incredible alternative in the name of an online MBA. This is a great alternative because as already discussed, you get to pursue your dream course from a top university at a very low fee and without the hassle of an entrance exam. But, these are not the only merits. An online MBA is an excellent pathway toward success with several benefits according to the growing needs of the fast-paced academic and corporate world.  

An important thing here is to keep in mind that you do not rush into taking admission to any online university or trust anything that you see online. You first need to research thoroughly because not all online universities are valid and some online sites might try to scam you in the names of top colleges as well. So, save yourself from all of the troubles by visiting College Vidya, a platform that has listed all the approved online universities only and offers services that help you to get admission to the right online university as per your merit and requirements.