Philosophers might say that money cannot buy happiness; so don’t hanker after it. However, more often than not, this philosophy rarely is implemented in the practical world where high paying jobs are what one looks at when we talk of success in our fields.
An MBA normally adds value to your career and your pay packet is bound to take a fairly significant jump after completion of an MBA course from a reputed B-school. It is a widely accepted fact that IIM management graduates earn the best salaries in our country and are even employed directly from the campus by overseas companies. However there are many non-IIM management graduates who also earn an enviable pay packet. Some of those top-rated non-IIM MBAs are listed below:
Xavier Labor Research Institute (XLRI), Jamshedpur: Offering a wide range of specialization in management courses, XLRI is a leading private management school in India. Its students attract an average annual salary of Rs.15.8 Lakhs, highest salary of Rs.32 lakhs and the least salary of Rs.9 lakhs.
Faculty of Management Studies (FMS), Delhi: FMS focuses on management education through the combined force of pedagogy, fieldwork, case studies, and targeted feedback. The students from FMS get placement offers with average salary Rs.15.4 lakhs and maximum salary of Rs.26 lakhs. FMS used to conduct its own entrance test a few years ago before moving to CAT. The separate entrance test helped it build a strong brand in the industry and the institute was able to attract some of the best brains in the country.
S P Jain Institute of Management and Research, Bharatiya Vidya Bhavan, Mumbai: One of the premier business schools in the country, SPJIMR offers MBA programs with multiple specialization options. The teaching methodology is guided by the principles of social relevance and responsiveness, co-operation and collaboration and networking. The students of SPJIMR get average annual salary offers of Rs. 14 lakhs, maximum annual salary of Rs. 23 lakhs and a minimum offer of Rs.10.5 lakhs. SPJain is very popular school amongst the finance and technology aspirants. The school is famous for its emphasis on experience and hence it was able to offer a second option to many students who could not make it to IIM.
Management Development Institute (MDI), Gurgaon: MDI aims to produce ‘thought leaders’ and ‘change masters’ through academic excellence and continuous innovation. MDI students are recruited by some of the best companies with an average salary offer of Rs13.5 lakhs, maximum salary offer of Rs.21 lakhs and a minimum offer of Rs.7.8 lakhs.
MDI needs no introduction to those targeting only IIMs. This is one of the few private management institutes that have carved out a name for itself in a short period of time.
Narsee Monjee Institute of Management Studies (NMIMS) Mumbai: Established under the aegis of Narsee Monjee Educational Trust, NMIMS also has campuses in Mumbai, Shirpur, Bengaluru and Hyderabad. The institute offers both fulltime and part time management programs. The average annual salary offered is Rs. 12 lakhs, maximum salary is Rs. 24 lakhs and the minimum offer is Rs. 6 lakhs. NMIMS offers both MBA and PGDM courses and it still conducts its own entrance test which have recently moved online and is conducted by GMAT council.
Xavier Institute of Management (XIM), Bhubaneshwar: XIM envisions pursuing excellence through a three-pronged approach including academic excellence, personal values and social concern. XIM offers a wide range of management programs. The average annual salary of XIM students is Rs. 10.8 lakhs, maximum salary offered is Rs. 15 lakhs and the minimum offer is Rs. 7 lakhs.
Great Lakes Institute of Management, Chennai: This institute aims to provide quality education at affordable costs to build human capital for emerging economies. Offering a wide range of fulltime and part time management programs, students from the Great Lakes Institute of Management attract average annual salary of Rs. 8.7 lakhs, maximum salary of Rs. 24 lakhs and a minimum offer of Rs. 6 lakhs.
Bharathidasan Institute of Management, Tiruchirappalli: BIM was set up for the first time by collaboration with academics and the industry. BIM is housed within the BHEL campus in Tiruchirappalli and aims to provide management education with strong roots in theoretical inputs and proactive partnership with the industry. The students from BIM are offered average annual salaries in the range of Rs. 8.8 lakhs, maximum offering of Rs. 10.8 lakhs and a minimum offer of Rs. 6 lakhs.