How much does an MBA cost? Top 5 affordable colleges for MBA

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When it comes to the business world, nothing is more important than an MBA course. MBA courses enhance practical skills which contribute to the business world but the problem is -how heavy they are in your pocket. MBA is probably the most expensive degree in India with an average fee ranging between 7-8 LPA. So much so that we all wished to have pay after placement courses!

Every year, lakhs of students apply for MBA courses that are way out of their budget and land them up a huge pile of debt. Though MBA is worth every penny, yet it does create a dent in the pockets of those who cannot afford it and aim to achieve success on the corporate ladder.  As we move ahead in time, pay after placement courseswill become much more popular and efficient. Colleges like NIU, Greater Noidaprovide an opportunity to experience the benefits.

MBA being an expensive task is still essential for a business administration aspirant who wishes to kickstart their career and thus people take loans to manage around their education. Pay after placement courses work on parameters of performance and dedication of a student. Many colleges are now adapting more inclusive forms of MBA.

The real question amongst all this is- why the high cost? The answer is simple. MBA brings a fresh perspective to the table- practical business experience! Colleges like IIMs and NIU, Greater Noida provide high-quality education with an emphasis of empirical and outcome-based approaches.

Why the extra cost?

MBA is a professional degree and professional degrees provide space for candidates to learn and earn through experience. The course promises an ROI for which students are okay to go the extra mile and work with debts and loans because they know they can pay it. Colleges like NIU, Greater Noidaand FMS, Delhi do take the load off students, yet MBA is expensive because-

  • Cost of faculty
  • Demand for the seat
  • Campus maintenance
  • Cost of guest lectures
  • Cost to conduct functions and extracurricular activities
  • Cost of providing practical, industry-scaled experience

How much does the course cost?

Different colleges charge fees according to their brand, faculty, infrastructure, other facilities, and tax charges they have to bear. These costs are included in the fee of the course and make up most of the total. The high fee can also be attributed to the industry-tied experience that MBA colleges provide. Some colleges and their fee are-

  1. NMIMS, Mumbai- 19.76 Lakh
  2. IMT, Ghaziabad- 17.55 Lakh
  3. IMI, Delhi- 17.68 Lakh
  4. Symbiosis Institute of Business management- 17.06 Lakh
  5. ISB, Hyderabad- 34.63 Lakh
  6. IIFT, New Delhi- 16.25 Lakh
  7. XLRI, Jamshedpur- 23.60 Lakh
  8. SPJIMR, Mumbai- 17.50 Lakh

Clearly, the fee for MBA is clearly high enough for students to pay directly. Hence, we need pay after placement courses from good colleges like NIU, Greater Noida to reach students who are in need and are looking to expand their careers into the business field.

Top 5 affordable colleges in India

A good and affordable college makes for a perfect combination for any student. From infrastructure to placements, an institution

  1. Faculty of Management Studies (FMS), Delhi:  Founded in 1954, the institute was started at the Delhi School of Economics premises and is one of the best colleges for operations. Apart from providing one of the most experienced faculty, it also has a good quality infrastructure with all the amenities. It offers one of the best courses out of all the specializations and provides workshops and seminars. The course accepts CAT as an entrance test. FEES- Rupees 20,960 per annum.
  2. Delhi School of Economics, DU- The institute was established in 1973 and is located in New Delhi. Department of Business Economics provides PG programs in business economics and financial management. The college is affiliated with Delhi University and provides great exposure when it comes to companies and the fee for the course is- Rupees 31320 per annum.
  3. Tata Institute of Social Sciences (TISS), Mumbai- Known for its MBA in Human Resources program. The placements is really good with the institute being located in the financial capital of the country and offers roughly up to Rs. 20.06 LPA average salary, thereby producing hundreds of polished professionals every year. The entire cost of an MBA at TISS is approximately Rs. 2.38 lakh including accommodation/hostel fees, which is a little high, and hence, we need to pay after placement courses for the institution.
  4. NIU, Greater Noida – It is one of the top institutions in India with an outlook that reaches far and wide, globally. NIU, Greater Noidaalso has one of the most experienced and trained faculty along with a robustly developed infrastructure that creates a much immersive and development-oriented space for individuals. Their pay after placement courses ensures that every student gets their piece of experience.
  5. Department of Financial Studies (DFS), Delhi University (DU)- Offering two-year MBA Programmes -MBA in Financial Management and MBA in Business Economics, the institute believes in training students for the future. The average placement salary last year was Rs. 9.2 LPA. Top recruiters for placements at DFS include Axis Bank, ICICI Bank, American Express among many others.
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