Which IIM is No 1? SPJIMR or XLRI? IIT Delhi or IIT Mumbai? MBAUniverse.com Ranking 2023 reveals India Top B-schools for MBA Aspirants
With the break of New Year 2023, the 13th edition of MBAUniverse.com Ranking 2023 is out now! This prestigious ranking highlights the changing landscape of management education and offers plenty of insights. So, get ready to find out Which IIM is No 1? How do top IIT B-schools fare and a lot more… Based only on ‘Objective data’, and no subjective assessments, MBAUniverse.com Ranking 2023 reveals India’s Top B-schools.
Regarded as one of India’s most credible B-school Rankings, the 13th edition of MBAUniverse.com Ranking 2023 is out now! These prestigious ranking documents, changing landscape of management education in India, offer plenty of insights and some surprises too.
IIM Bangalore continues to hold on to its leadership position as India’s #1 B-school as per MBAUniverse.com Ranking 2023. IIM Bangalore had secured the #1 Rank for the first-time last year in the 2022 survey.
A breaking news from the survey is that SPJIMR Mumbai has dethroned IIM Lucknow to claim the #4 Rank in MBAUniverse.com Rankings 2023. In a strong showing, IIM Kozhikode has retained its #5 rank on this league table. IIT Delhi’s Department of Management Studies is the fastest rising B-school, and almost broke into the top 10 ranking with a strong all-around performance.
But wait…! Before we come to Top 10 and Top 20 B-schools featured in the MBAUniverse.com Rankings 2023, it’s important to note the survey methodology that will explain the ranking results. Since 2010, MBAUniverse.com Ranking has championed the use of only ‘Objective Data’, without any ‘Perception Survey’ data. Designed exclusively for MBA aspirants, this Ranking is based on 360-degree assessment that balances the three pillars 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 overview below.
MBAUniverse.com Ranking 2023 - Key Highlights
For those in a hurry, 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 year when it had secured the #1 Rank for the first-time in the 2022 survey. Check details below.
- Triple accredited IIM Calcutta has moved up the rankings to claim #2 rank, while pushing the much-celebrated IIM Ahmedabad to #3 rank as per MBAUniverse.com Rankings 2023.
- A breaking news from the survey is that SPJIMR Mumbai has unseated IIM Lucknow to claim #4 position. For starters, its career outcomes data go ahead of XLRI, and all IIMs except ABC. Check details below.
- Despite stiff competition from IIMs, top private B-schools XLRI and MDI have held on to their leadership by successfully differentiating their programs.
- IIT Delhi’s Department of Management Studies, one of the fastest rising B-schools on our league table, almost broke into the top 10 with a strong all-around performance.
- In spite of tough competition from IIMs and IIT B-schools, top PGDM B-schools like IMT Ghaziabad, IMI New Delhi, TAPMI have earned their spot in coveted Top 25 Ranks.
- Private University based B-schools like NMIMS Mumbai, XIM Bhubaneshwar, SCMHRD Pune, KJ Somaiya Mumbai have demonstrated that MBA can thrive in University setup too. However, a lot more needs to be done by most of Private Universities in India to improve their MBA program.
- New IIMs like IIM Nagpur and IIM Amritsar are fast breaking into the top league.
- Many of Non-IIM B-schools in the coveted Top 35 list are PGDM B-schools including GIM Goa, IRMA, LBSIM, BIMTECH and Welingkar Mumbai to name a few.
All said, the fierce competition in claiming Top Ranks amongst IIMs, PGDM B-schools, University B-schools, and of late IIT DoMs, is promoting innovation and focus on outcomes, which is good news for Indian management education.
Let’s review who finds the place in Top 10, Top 10-20 and Top 20-35 tables in this year’s survey.
MBAUniverse.com Ranking 2023 - Top 10 B-schools in India
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 table. IIM Bangalore is Ranked #1 B-school in India, as per MBAUniverse.com Ranking 2023. IIM Bangalore is leading from the front when it comes to globalization, research and thought-leadership. With 117 faculty members, who are admired subject experts, and career outcomes matching other top IIMs, it has earned its top rank with a total score of 926, out of 1000.
Triple accredited, IIM Calcutta has moved up the rankings to claim #2 rank, while pushing IIM Ahmedabad to #3 rank in MBAUniverse.com Rankings 2023. IIM Calcutta has the highest career outcomes -- with average salary of Rs 34,20,000, highest amongst all B-schools in India!
A breaking news from the survey is that SPJIMR Mumbai has unseated IIM Lucknow to claim #4 position. What is remarkable is its focus on Student Career Outcomes – where it is ahead of all IIMs except ABC. And it has improved its research outcomes in last few years, and also received AACSB accreditation, making it a more holistic B-school.
In a strong showing, IIM Kozhikode has retained its #5 rank on this league table. It has the highest number of faculty – 130 – amongst all B-schools surveyed for this ranking, which ensured strong research outcomes. Despite stiff competition, XLRI and MDI have held on to their Top 10 ranks by successfully differentiating their programs.
So, here are the Top 10 B-schools in India, along with their total scores.
|
B-School |
Rank 2023 |
Rank 2022 |
Score 2023 |
Admission Status |
|
1 |
1 |
926 |
||
|
2 |
3 |
913 |
||
|
3 |
2 |
877 |
||
|
SP Jain Institute of Management and Research (SPJIMR) Mumbai |
4 |
6 |
861 |
|
|
5 |
5 |
848 |
||
|
6 |
Not Ranked |
783 |
||
|
7 |
4 |
696 |
||
|
8 |
7 |
688 |
||
|
9 |
Not Ranked |
679 |
||
|
10 |
9 |
665 |
Source: MBAUniverse.com Ranking 2023
MBAUniverse.com Ranking 2023 - Top 11-20 B-schools in India
IIT Delhi’s Department of Management Studies, ranked at #11, is one of the fastest rising B-schools on our rankings. It almost broke into the top 10 with a strong all-around performance. At #13, Shailesh J. Mehta School of Management at IIT Bombay is not far behind. IIT B-schools are in a sweet spot for several factors: like improving student diversity (partly due to low fees and strong showing in popular NIRF rankings), increasing importance of research, which is their forte, and rising importance of technology in business management.
Joining IIT DoMs on the elite list of Top 20 B-schools in India are a mix of PGDM and Private University B-schools, and also a few IIMs. Top PGDM B-schools like IMT Ghaziabad and IMI New Delhi managed to hold on to their presence in this elite Top 20 list. They are ofcourse facing tough challenge from younger IIMs – IIM Udaipur and IIM Trichy. NMIMS Mumbai has slipped in this ranking (from #10 to #14 this year) and so has IIFT. It seems IIFT’s over diversification (into Calcutta and Kakinada) is hurting its outcomes.
| B-School | Rank 2023 | Rank 2022 | Score 2023 (Total 1000) |
Admission Status |
|
11 |
24 |
661 |
||
|
12 |
8 |
646 |
||
|
13 |
15 |
633 |
||
|
School of Business Management, Narsee Monjee Institute of Management Studies (NMIMS) SBM Mumbai |
14 |
10 |
586 |
|
|
15 |
12 |
578 |
||
|
16 |
14 |
571 |
||
|
17 |
11 |
564 |
||
|
18 |
19 |
552 |
||
|
19 |
13 |
541 |
||
|
20 |
22 |
530 |
Source: MBAUniverse.com Ranking 2023
Top 21-35 B-schools in India by MBAUniverse.com Rankings 2023
The next set of the B-schools, ranked No 21-35, are institutions with strong pedigree and consistent performance. Participating in this ranking for the first time, IIT Kanpur’s Department of Industrial & Management Engineering has achieved #24 rank. Top PGDM B-schools including TAPMI, GIM, IRMA, LBSIM, BIMTECH and Welingkar continue to make their presence felt in this cluster. Representing private university B-schools are SIBM Bangalore and IFMR Graduate School of Business at Krea University. They are however going to face stiff challenge from new IIMs like IIM Raipur, IIM Nagpur, IIM Amritsar and IIM Sambalpur who are knocking hard on their doors!
| B-School | Rank 2023 | Rank 2022 | Score 2023 (Total 1000) | Admission Status |
|
Symbiosis Centre For Management And Human Resource Development (SCMHRD) Pune |
21 |
23 |
528 |
|
|
22 |
20 |
524 |
||
|
23 |
17 |
522 |
||
|
Department of Industrial & Management Engineering (IIT Kanpur) |
24 |
Not Ranked |
519 |
|
|
25 |
25 |
514 |
||
|
26 |
21 |
504 |
||
|
27 |
28 |
450 |
||
|
28 |
30 |
447 |
||
|
29 |
26 |
443 |
||
|
30 |
32 |
441 |
||
|
Birla Institute of Management Technology (BIMTECH) Greater Noida |
31 |
31 |
429 |
|
|
Prin. L.N. Welingkar Institute of Management Development and Research (WELINGKAR) Mumbai |
32 |
27 |
426 |
|
|
33 |
33 |
420 |
||
|
34 |
37 |
418 |
||
|
35 |
44 |
414 |
Source: MBAUniverse.com Ranking 2023
Top 36-50 B-schools in India by MBAUniverse.com Ranking 2023
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. IIM Sambalpur, MDI Murshidabad, IMT Nagpur, SDMIMD and KIIT SOM are ranked right at the top of this table. Here is the full list that completes Top 50 ranked B-schools.
| B-School | Rank 2023 | Score (Total 1000) | Admission Status |
|
36 |
411 |
||
|
37 |
409 |
||
|
38 |
407 |
||
|
39 |
406 |
||
|
40 |
398 |
||
|
41 |
393 |
||
|
42 |
391 |
||
|
43 |
383 |
||
|
Xavier Institute of Management and Entrepreneurship (XIME) Bangalore |
44 |
379 |
|
|
45 |
376 |
||
|
46 |
371 |
||
|
47 |
368 |
||
|
48 |
367 |
||
|
49 |
366 |
||
|
50 |
364 |
Source: MBAUniverse.com Ranking 2023
MBAUniverse.com Rankings 2023 Methodology: How the rankings & scores were calculated…
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 have been assigned to each of the three clusters.
|
Clusters/Factors |
Key Criteria/Variables |
Weightage (%) |
|
Input |
Student Quality & Diversity |
21 |
|
Process |
Faculty, Academics, Research, International Accreditation |
43 |
|
Outcome |
Career Outcomes & Entrepreneurship |
36 |
Read complete MBAUniverse.com Rankings 2023 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 3 International Accreditations i.e. AACSB, EFMD’s EQUIS and AMBA. However, no other International Accreditation was given any weightage. Survey notes that growing number of Indian B-schools featured in this ranking have earned these prestigious accreditations.
Three Triple Crown B-schools in India
|
B-school
|
Accredited by:
|
||
|
AACSB
|
EQUIS
|
AMBA
|
|
|
Indian Institute of Management - IIM Calcutta
|
Yes
|
Yes
|
Yes
|
|
Indian Institute of Management - IIM Indore
|
Yes
|
Yes
|
Yes
|
|
Indian School of Business - ISB Hyderabad*
|
Yes
|
Yes
|
Yes
|
* Not ranked in this survey as it offers a 1-year MBA equivalent certificate program
Eight Double Crown B-schools in India
|
B-schools
|
Accredited by
|
||
|
AACSB
|
EQUIS
|
AMBA
|
|
|
Indian Institute of Management - IIM Kozhikode
|
|
Yes
|
Yes
|
|
Indian Institute of Management - IIM Lucknow
|
Yes
|
|
Yes
|
|
XLRI Jamshedpur
|
Yes
|
|
Yes
|
|
Management Development Institute (MDI) Gurgaon
|
Yes
|
|
Yes
|
|
SPJIMR Mumbai
|
Yes
|
|
Yes
|
|
International Management Institute (IMI) New Delhi
|
Yes
|
|
Yes
|
|
School of Business Management at NMIMS Mumbai
|
Yes
|
|
Yes
|
|
TAPMI Manipal
|
Yes
|
|
Yes
|
MBAUniverse.com Rankings 2023: Complete List
Here is the full list of 85 Top B-schools in India, as per our rankings.
Also read:
MBAUniverse.com Rankings 2023 Methodology
MBA Ranking 2023: Read latest updates on NIRF Ranking Framework (published by HRD Ministry, Government of India), MBAUniverse.com and Business Today rankings.
Stay tuned to MBAUniverse.com for more updates on MBAUniverse.com Ranking
