MBA ROI: An MBA in India can cost anywhere from ₹2 lakh to over ₹30 lakh. The real question isn’t the sticker price. It’s whether the degree pays for itself in a reasonable time. Return on Investment, or ROI, looks at what you spend versus what you earn after graduating. A high-ROI MBA doesn’t always mean the highest salary. It usually means a strong salary relative to total fees, along with consistent placement.
This article, MBA ROI, focuses on Indian MBA colleges where graduates typically recover their education costs quickly, based on publicly reported fees and average placement salaries from recent years.
Calculating the return on investment (ROI) for an MBA isn’t simply a matter of looking at your starting salary; it requires comparing your total costs over a defined period (typically 1–10 years) to your expected financial benefits. How to calculate MBA ROI (a simplified approach). For this list, ROI is estimated using the following:
| + Total MBA fees (tuition + mandatory charges) + Average annual CTC (Cost to Company) offered during placements + A simplified formula for ROI: ROI Multiple = Average CTC ÷ Total Fees. This is not a lifetime earnings calculation. It’s a practical, short-term perspective on how quickly an MBA starts paying for itself. |
MBA ROI: Top 30 MBA Colleges in India by ROI
(Tier 1: Exceptional ROI, Low Fees, High Pay). These schools combine government or subsidised fees with elite placements.
1. FMS Delhi
| Fees | INR 2.10 Lakh |
| Avg. CTC | INR 34-36 LPA |
| MBA ROI | Among the best in India |
2. JBIMS Mumbai
| Fees | INR 6.00 Lakh |
| Avg. CTC | INR 28-30 LPA |
| MBA ROI | Best in India (CEO Factory) |
3. TISS Mumbai (HRM & LR)
| Fees | INR 2-3 Lakh |
| Avg. CTC | INR 25-27 LPA |
| MBA ROI | Best in India |
4. IIM Ahmedabad
| Fees | INR 25 Lakh |
| Avg. CTC | INR 35+ LPA |
| MBA ROI | Best in India (No #1 in NIRF) |
5. IIM Bangalore
| Fees | INR 25 Lakh |
| Avg. CTC | INR 32-35 LPA |
| MBA ROI | Best in India (No #2 in NIRF) |
6. IIM Calcutta
| Fees | INR 25 Lakh |
| Avg. CTC | INR 35-36 LPA |
| MBA ROI | Best in India (No #7 in NIRF) |
Tier 2: Strong ROI With Consistent Placements (High Brand Value and Reliable Salary Outcomes)
7. IIM Lucknow
| Fees | INR 21 Lakh |
| Avg. CTC | INR 30+ LPA |
| ROI | Best in India (No #5 in NIRF) |
8. IIM Kozikhod
| Fees | INR 21 Lakh |
| Avg. CTC | INR 28-30 LPA |
| ROI | Best in India (No #3 in NIRF) |
9. IIM Indore
| Fees | INR 21 Lakh |
| Avg. CTC | INR 26-28 LPA |
| ROI | Best in India (No #8 in NIRF) |
10. XLRI Jamshedpur
| Fees | INR 25 Lakh |
| Avg. CTC | INR 30-32 LPA |
| ROI | Best in India (No #10 in NIRF) |
11. MDI Gurgaon
| Fees | INR 25 Lakh |
| Avg. CTC | INR 26-28 LPA |
| ROI | Best in India (No #9 in NIRF) |
12. SPJIMR Mumbai
| Fees | INR 24 Lakh |
| Avg. CTC | INR 32-34 LPA |
| ROI | Best in India (No #20 in NIRF) |
MBA ROI Comparison Table: Top Indian Colleges
| Rank | College | Approx. Total Fees (₹) | Avg Placement CTC (₹ LPA) | ROI (CTC ÷ Fees) |
|---|---|---|---|---|
| 1 | FMS Delhi | 2 lakh | 34–36 | 17x+ |
| 2 | TISS Mumbai (HRM & LR) | 2–3 lakh | 25–27 | 9–12x |
| 3 | JBIMS Mumbai | 6 lakh | 28–30 | 5x |
| 4 | IIM Ahmedabad | 25 lakh | 35+ | 1.4x |
| 5 | IIM Bangalore | 25 lakh | 35+ | 1.4x |
| 6 | IIM Calcutta | 25 lakh | 34–36 | 1.4x |
| 7 | SPJIMR Mumbai | 24 lakh | 32–34 | 1.3x |
| 8 | XLRI Jamshedpur | 25 lakh | 30–32 | 1.25x |
| 9 | IIM Lucknow | 21 lakh | 30+ | 1.4x |
| 10 | IIM Kozhikode | 21 lakh | 28–30 | 1.35x |
| 11 | IIM Indore | 21 lakh | 26–28 | 1.3x |
| 12 | MDI Gurgaon | 25 lakh | 26–28 | 1.1x |
| 13 | IIM Shillong | 18 lakh | 26–28 | 1.5x |
| 14 | IIM Udaipur | 18 lakh | 20–22 | 1.2x |
| 15 | IIM Trichy | 18 lakh | 19–21 | 1.1x |
| 16 | IIM Ranchi | 17 lakh | 18–20 | 1.1x |
| 17 | IIM Raipur | 17 lakh | 18–20 | 1.1x |
| 18 | IIM Kashipur | 16 lakh | 18–20 | 1.2x |
| 19 | IIFT Delhi | 21 lakh | 25–27 | 1.2x |
| 20 | IIFT Kolkata | 21 lakh | 23–25 | 1.1x |
| 21 | NMIMS Mumbai | 24 lakh | 25–26 | 1.05x |
| 22 | SIBM Pune | 22 lakh | 26–28 | 1.25x |
| 23 | IMT Ghaziabad | 21 lakh | 15–17 | 0.8x |
| 24 | XIMB Bhubaneswar | 20 lakh | 15–18 | 0.8–0.9x |
| 25 | IIT Bombay (SJMSOM) | 10 lakh | 25–28 | 2.5x |
| 26 | IIT Delhi (DMS) | 10 lakh | 24–26 | 2.4x |
| 27 | IIT Kharagpur (VGSoM) | 10 lakh | 23–25 | 2.3x |
| 28 | IIM Nagpur | 15 lakh | 16–18 | 1.1x |
| 29 | IIM Amritsar | 14 lakh | 15–17 | 1.1x |
| 30 | IIM Visakhapatnam | 15 lakh | 16–18 | 1.1x |
(Based on Online Research: Utilised internet-based tools – surveys, focus groups, and social media analysis.)
MBA ROI: Final Thoughts
| + If your goal is maximum financial returns, then colleges like FMS, JBIMS, TISS Mumbai, and the top IIMs are the best options. + If you want a balanced ROI along with brand value, then the newer IIMs and top private business schools would be suitable. + If you are cost-conscious, public institutions often offer better ROI than private colleges. |
The best MBA is not necessarily the most expensive one. It’s the one that best fits your background, career plans, and risk tolerance.
