Best Non-IIM MBA Colleges in India with High ROI

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Aug 12, 2026

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  • August 12, 2026: Here we have discussed the best non-IIM MBA colleges in India with high ROI, including fees, placements, average packages and entrance exams.Read More
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Best Non-IIM MBA Colleges in India with High ROI

Best Non-IIM MBA Colleges in India with High ROI

Along with IIM colleges, several government and private colleges offer high ROI. If you are targeting non IIMs to pursue your MBA, then you must have also heard names like FMS Delhi, TISS Mumbai, and DFS. These colleges are known for their exceptional placements and low fees. But they also have high cut-offs. They accept different management exams like CAT, XAT, GMAT, and some private colleges even conduct separate exams like SNAP, NMAT and many more. As an MBA aspirant, you must also check the course structure, location, alumni strength, recruiting companies and entrance requirements along with High ROI non-IIM colleges.

Top Non-IIM MBA Colleges with Fees and Average Package

The best non-IIM MBA colleges combine academic credibility with strong placement outcomes. A low fee becomes especially attractive when the average package remains competitive.

The table below compares leading institutes using the available fee and salary figures.

Rank

Institute

MBA Fees

Avg. Package CTC

Median CTC

Highest CTC

1

FMS Delhi

₹2.40 Lakhs

₹32.27 LPA

₹29.50 LPA

₹1.10 Cr

2

TISS Mumbai

₹2.04 Lakhs

₹28.69 LPA

₹28 LPA

₹36.25 LPA

3

JBIMS Mumbai

₹7 Lakhs

₹26.48 LPA

₹26.15 LPA

₹55.60 LPA

4

IISc Bangalore

₹5.94 Lakhs

₹31.70 LPA

₹24 LPA

₹65 LPA

5

SPJIMR Mumbai

₹26.50 Lakhs

₹33.75 LPA

₹32.85 LPA

₹75 LPA

6

XLRI Jamshedpur

₹30.60 Lakhs

₹31.40 LPA

₹29 LPA

₹1.10 Cr

7

IIFT Delhi

₹21.82 Lakhs

₹31.30 LPA

₹26 LPA

₹1.23 Cr

8

SJMSOM IIT Bombay

₹16.92 Lakhs

₹28.16 LPA

₹26 LPA

₹53.80 LPA

9

IIT Delhi

₹12 Lakhs

₹22.53 LPA

₹22.51 LPA

₹43.55 LPA

10

IIT Kharagpur

₹11.75 Lakhs

₹22.75 LPA

₹22.15 LPA

₹37.63 LPA

Note: ROI Ratio is calculated by dividing the average package by the total course fees. Actual financial returns can differ after taxes, living costs, loans, and other expenses.

FMS Delhi offers one of the strongest fee-to-salary combinations among leading MBA institutes. TISS Mumbai also delivers an impressive balance between affordable fees and placement outcomes. DFS takes the ratio even higher because its reported fee remains exceptionally low.

However, a salary figure alone cannot capture the complete value of an MBA. Recruiter quality, career mobility, alum connections, and role diversity can influence long-term outcomes.

Best Low-Fee MBA Colleges in India with High Placements

A high-quality MBA does not always require a high-priced seat. Institutes such as FMS, DFS, TISS, DSE, and SIMSREE demonstrate this clearly.

College

Course Fees

Avg. Package

Median

Highest CTC

DFS

₹1 Lakh

₹19.12 LPA

₹14.46 LPA

₹32 LPA

TISS Mumbai

₹2.04 Lakhs

₹28.69 LPA

₹28 LPA

₹66.25 LPA

DSE

₹1 Lakh

₹13.92 LPA

₹15.17 LPA

₹30 LPA

FMS Delhi

₹2.40 Lakhs

₹32.27 LPA

₹29.50 LPA

₹1.10 Cr

IISc Bangalore

₹5.94 Lakhs

₹31.70 LPA

₹24 LPA

₹65 LPA

SIMSREE Mumbai

₹1.38 Lakhs

₹15.00 LPA

₹14.85 LPA

₹22.50 LPA

JBIMS Mumbai

₹7 Lakhs

₹26.48 LPA

₹26.15 LPA

₹55.60 LPA

DIME, IIT Kanpur

₹6.40 Lakhs

₹17.20 LPA

₹16.50 LPA

₹36 LPA

IIT Roorkee

₹9.74 Lakhs

₹17.91 LPA

₹17.64 LPA

₹24 LPA

VGSoM, IIT Kharagpur

₹11.75 Lakhs

₹22.75 LPA

₹22.15 LPA

₹37.63 LPA

IIT Delhi

₹12 Lakhs

₹22.53 LPA

₹22.51 LPA

₹43.55 LPA

The numbers show why fee-conscious applicants often consider government-backed institutions first. However, eligibility, entrance scores, location, and course preferences still matter greatly.

FMS Delhi is particularly attractive when CAT performance is strong, and budget remains important. DFS suits applicants seeking finance-focused management education at an unusually modest cost.

Which Non-IIM MBA College Has the Best ROI?

Based purely on the fee and average-package figures, DFS records the highest ROI ratio. Its reported ₹1 lakh fee compares with an average package of ₹19.12 LPA.

FMS Delhi follows closely with an impressive 12.54x ROI ratio. TISS Mumbai records 14.10x, placing it above FMS on the same calculation.

Institute

Fees

Avg. Package

ROI Ratio*

DFS

₹1.00 Lakh

₹19.12 LPA

19.12x

FMS Delhi

₹2.40 Lakhs

₹32.27 LPA

13.45x

TISS Mumbai

₹2.04 Lakhs

₹28.69 LPA

14.06x

IISc Bangalore

₹5.94 Lakhs

₹31.70 LPA

5.34x

JBIMS Mumbai

₹7.00 Lakhs

₹26.48 LPA

3.78x

DIME, IIT Kanpur

₹6.40 Lakhs

₹17.20 LPA

2.69x

IIT Roorkee

₹9.74 Lakhs

₹17.91 LPA

1.84x

IIT Delhi

₹12.00 Lakhs

₹22.53 LPA

1.88x

VGSoM, IIT Kharagpur

₹11.75 Lakhs

₹22.75 LPA

1.94x

SPJIMR Mumbai

₹26.50 Lakhs

₹33.75 LPA

1.27x

XLRI Jamshedpur

₹30.60 Lakhs

₹31.40 LPA

1.03x

ROI can act as a financial compass, but it should not become the entire map. A strong decision also requires checking placement roles, recruiter diversity, curriculum, and alumni strength.

Moreover, average salary figures represent broad placement outcomes rather than guaranteed individual earnings. Your specialisation, experience, role, and market conditions can affect the final package.

Best Non-IIM MBA Colleges Through CAT, XAT and Other Exams

Entrance exam flexibility can widen the application strategy considerably. Different non-IIM institutes accept CAT, XAT, GMAT, NMAT, SNAP, or other examination scores.

Non-IIM College

Entrance Exam

Cutoff

FMS Delhi

CAT

99+

SPJIMR Mumbai

CAT, GMAT

85+

ISB Hyderabad

CAT, GMAT, GRE

98.5+

JBIMS Mumbai

CAT, MAH-CET, CMAT

99.9+

XLRI Jamshedpur

XAT

94+

IIT Delhi

CAT

98+

SJMSOM IIT Bombay

CAT

98+

IMT Ghaziabad

CAT, XAT, GMAT

90+

MDI Gurgaon

CAT, GMAT

96+

IIFT Delhi

CAT

97+

MICA Ahmedabad

CAT, XAT, GMAT

95+

IIT Roorkee

CAT

94+

XIM Bhubaneswar

CAT, XAT, XGMT, GMAT

90+

Great Lakes Chennai

CAT, XAT, CMAT

85+

NMIMS Mumbai

NMAT

220+

SIBM Pune

SNAP

98+

GIM Goa

CAT, XAT, CMAT

85+

DIME, IIT Kanpur

CAT

95+

TISS Mumbai

CAT

98+

TAPMI Manipal

CAT, XAT, GMAT, NMAT

85+

K J Somaiya Mumbai

CAT, XAT, CMAT, GMAT, NMAT

85+

Welingkar

CAT, XAT, CMAT, ATMA, GMAT

80+

IBS Hyderabad

CAT, XAT, GMAT, IBSAT

80+

LBSIM

CAT, XAT, GMAT

85+

IFMR

CAT, XAT, NMAT, CMAT, GMAT

75+

Is a High-ROI Non-IIM MBA Better Than a New IIM?

A high-ROI non-IIM MBA can be a smarter choice in specific financial situations. FMS Delhi, for example, can offer a lower-cost route toward highly competitive corporate roles.

However, newer IIMs can provide expanding alumni networks, IIM branding, and evolving corporate relationships. The better option depends on career goals, specialization, fees, placement strength, and location.

Factor

High-ROI Non-IIM

New IIM

Fee burden

Usually lower at top government institutes

Can be comparatively higher

ROI

Can be exceptionally strong

Depends on fees and placements

Brand value

Strong for established institutes

IIM tag offers broad recognition

Alum network

Mature at established colleges

Still developing at newer campuses

Placements

Strong at leading institutes

Can vary significantly

Financial risk

Lower when fees remain modest

Depends on loan requirement

Think of the decision as choosing between two different roads rather than chasing one universal winner. A high-ROI non-IIM college can reduce financial pressure while preserving strong career opportunities.

Best Non-IIM MBA Colleges in India with High ROI: Conclusion

The best non-IIM MBA colleges in India with high ROI can offer an excellent combination of affordable fees, strong placements and long-term career opportunities. FMS Delhi, TISS Mumbai, DFS, JBIMS and leading IIT management schools stand out for applicants who want to keep their MBA investment under control without compromising significantly on career prospects.

However, ROI should be treated as one part of the decision rather than the only deciding factor. Compare average and median packages, recruiter profiles, alumni strength, programme specialization, location and admission requirements before applying. A college that aligns with both your career goals and financial capacity will ultimately provide the strongest value.

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