SPJIMR Mumbai delivers best ROI amongst top B-schools including IIMA, IIMB, IIMC, XLRI, MDI; Comparative analysis by MBAUniverse.com reveals

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MBAUniverse.com News Desk |
November 17, 2023
SPJIMR Mumbai offers great education at moderate fees and delivers high RoI as compared to top IIMs and other top B-schools including IIMA, IIMB, IIMC, XLRI, MDI that makes SPJIMR a preferred MBA destination for CAT toppers who otherwise have a natural choice for top IIMs. In this article, MBAUniverse.com compares SPJIMR MBA Fees with its peers and comes up with some interesting insights
SPJIMR Fee offers High RoI

When it comes to choosing the right B-schools, Placements, Fees, ROI and Academics are generally the top parameters. In the backdrop of COVID 19’s negative impact on the economy and jobs, MBA aspirants are even more careful about choosing B-schools that offer great education at moderate fees, thus delivering high ROI. In this article, MBAUniverse.com compares SPJIMR MBA Fees, Placements and ROI with other Top B-schools in India. Continue reading this comprehensive analysis based on latest data to find out who really is the No 1 ROI B-school in India.

1. SPJIMR PGDM Fees: Much lower than Top IIMs
MBA Fees at IIMs and other top B-schools has gone up substantially. The fee at IIM Ahmedabad, Bangalore and Calcutta is Rs.25 Lakhs and is expected to go up further. Top Non-IIM B-schools like XLRI Jamshedpur and MDI Gurgaon have also increased their fee significantly in last few years.

In this context, SPJIMR Mumbai stands out. SPJIMR PGDM Fees is kept moderate by choice. SPJIMR Mumbai MBA Fees is Rs 24 Lakhs, which is less than the fee that IIM A, IIM B, IIM C, XLRI and MDI are charging. You may be wondering that if Top IIMs are charging more fees than SPJIMR MBA Fees, they will be giving more ROI, but you are in for a surprise! Continue Reading…

MBA/PGDM Fee for Top B-schools in India

Top B-Schools
2 Years MBA/PGP Fee 2021-23 (Rs. in lakhs)
IIM Ahmedabad MBA Fee
IIM Bangalore MBA Fee
IIM Calcutta MBA Fee
SPJIMR Mumbai MBA Fees

Source: Respective B-schools & MBAUniverse.com Analysis

Note: Fee structure for 2024-26 batch is yet to be announced

Another reflection of how SPJIMR thinks in the interest of students is its application fee. The SPJIMR fee for PGDM admission application is Rs 2000, which is much lower than what peer B-schools charge. For instance, MDI application fee is Rs.3000 and for XLRI admission you need to apply for XAT 2024 as well as to XLRI by spending a minimum of Rs.2300.

2. SPJIMR Placements: At par with Top IIMs
Despite having a lower fee structure, SPJIMR matches the placements of top IIMs. The Final Placement 2021 process at SPJIMR Mumbai was one of the fastest and got over in just 2 days! While the average salary in SPJIMR Placement 2021 was Rs.26.06 lakhs per annum, the highest salary was Rs.46.65 lakhs.

A quick comparison of placements with top B-schools is below. SPJIMR placement is not only at par with IIM Ahmedabad, it is much higher than XLRI, MDI and IIM Kozhikode.

Top B-school
Placement 2023 (Avg Salary Rs. In Lakhs)
IIM Ahmedabad
32.80 (2022)*
IIM Bangalore
IIM Calcutta
XLRI Jamshedpur

Source: Respective B-schools & MBAUniverse.com Analysis

*IIM Ahmedabad final placement 2023 data yet to be released

3. SPJIMR ROI: Beats Top IIMs
Amongst the Top 20 B-schools, SPJIMR Mumbai offers perhaps the highest Return on Investment (ROI) barring FMS Delhi, which has Delhi University Fee structure. With the SPJIMR fee at moderate level and high placements, the students at SPJIMR recover their fees in fewer months than at many top IIMs. Check table below:

Fee (Rs. in lakhs)
Average Placement (Rs. In lakhs)
Number of Months to Recover Your Fees
IIM Ahmedabad
32.80 (2022)
10 to 11 months
IIM Bangalore
09 to 10 months
IIM Calcutta
09 to 10 months
08 to 09 months
XLRI Jamshedpur
09 to 10 months

Source: Respective B-schools & MBAUniverse.com Analysis

From the data above, it is very clear that the SPJIMR’s PGDM program offers great Placements at moderate fee resulting in very high ROI, which beats even the top IIMs!

How is SPJIMR outperforming others?
So you may ask - how is SPJIMR outperforming others? Well, there can be many reasons that can be attributed to why SPJIMR is able to demonstrate such a strong showing. However, we understand the following factors significantly contribute to this outperformance.

1. Top International Rankings: SPJIMR beats IIMB, IIMI, IIML…
While there are many global and national MBA rankings, but one ranking that is considered as the gold standard of rankings by experts is the Financial Times Rankings, which is published by UK based business newspaper Financial Times. In this prestigious International Ranking, SPJIMR has scaled new heights. In the recently released Financial Times MIM Rankings 2023, SPJIMR Mumbai is ranked # 40 globally and # 1 in India while IIM Ahmedabad is ranked #43 globally and #2 in India. IIM Calcutta is ranked #60 globally and # 3 in India; IIM Lucknow, IIM Kozhikode, IIM Udaipur are ranked much below SPJIMR.

Financial Times MIM Rankings 2023: SPJIMR ranked ahead of IIM Ahmedabad, Calcutta

Global Rank 2023
India Rank 2023
Global Rank 2022
SP Jain Institute of Management & Research (SPJIMR)
Indian Institute of Management Ahmedabad
Indian Institute of Management Calcutta
Indian Institute of Management Lucknow
Indian Institute of Management Kozhikode
NMIMS Mumbai, School of Business Management
International Management Institute New Delhi
XLRI — Xavier School of Management
Indian Institute of Management Udaipur
Institute of Management Technology, Ghaziabad
Management Development Institute Gurgaon

Source: Financial Times & MBAUniverse.com Analysis

Not just the FT Rankings, SPJIMR was also ranked amongst the Top B-schools in QS Global MBA Rankings released recently.

2. Profile Based Unique Admission Process
SPJIMR admission process is unique and the key differentiator is a Candidate’s Profile. Even if you may not have scored a high 98-99 percentile in CAT, but if you have the desired leadership qualities with good past academic profile, you are likely to be the candidate that SPJIMR is looking for. SPJIMR focuses not just on CAT scores, but conducts a holistic assessment of candidates to pick future leaders and change agents.

Explains Prof. Bindu Kulkarni, Head-Admissions, SPJIMR,“Our selection process is done in two phases. In the first phase (profile-based shortlisting) applicants are shortlisted on the basis of their profiles before submission of entrance test scores. Applicants shortlisted in the first list are called for an early interview as well. They are, however, expected to meet the qualifying scores in at least one of the entrance exams as a qualifier. In the second shortlist applicants are shortlisted basis their profile and entrance scores. During the interview phase all shortlisted applicants are considered on par.”

3. Unique Curriculum & Pedagogy offers Great Learning Experience
SPJIMR has a unique curriculum and pedagogy that nurtures not just IQ but also EQ, thus creating socially aware managers. In addition to regular courses that all leading B-schools offer, SPJIMR takes five key initiatives in ‘Non-Classroom Learning’ area which include ADMAP, DOCC, Abhyudaya, PG Lab and Science of Spirituality.These unique course curriculum at SPJIMR offers three distinct levels of learning:

  • Self-awareness: How do you understand yourself?
  • Self-management: How do you reflect this awareness in your behaviour and interactions with others (interpersonal) and with yourself (intra personal)?
  • Societal awareness: How do you understand societal systems and needs, like the idea of India along with the idea of Bharat? 

Many Recruiters and Alumni rate this SPJIMR pedagogical approach very high as it nurtures grounded managers, who not only just excel in their work but also care for society and people.

4. Smaller Batch Size offering more focus, resources
A very important and an often-ignored factor while choosing a top B-school, is to look for the B-school with smaller batch size to enhance learning experience. While top IIMs and private B-schools have very large MBA/PGDM batch sizes, the batch size at SPJIMR comprises only 240 students. This offers a huge advantage for students like easier access and proximity to faculty and higher bonding amongst the batch.

SPJIMR Batch Size: Small is Beautiful

Batch Size
IIM Ahmedabad
IIM Bangalore
IIM Calcutta
XLRI Jamshedpur
IIM Lucknow
MDI Gurgaon
IIM Kozhikode

Source: Respective B-Schools and MBAUniverse.com Analysis

Smaller batch size helps in faster Placements, better roles and higher average salary!

Looking at all the above factors, MBA aspirants who are looking for a top notch MBA/PGDM program in India that prepares them for not just the first job but a long and distinguished career should consider applying for PGDM Admissions 2024 at SPJIMR. Last date to apply is November 24, 2023. 

Stay tuned to MBAUniverse.com for more updates on SPJIMR Mumbai