The NIRF 2025 rankings are out and seeing the ranking of MBA colleges and institutions in India we are left with a question- Are the NIRF rankings still relevant? Many MBA aspiring candidates look up to the NIRF rankings to target certain B-schools and add them to their dream colleges list. But is it worth choosing IIT-Delhi MBA over IIM-Calcutta? One of the holy trinity colleges with IIM-Ahmedabad and IIM-bangalore. Let's review the latest NIRF rankings to identify the top MBA programs in India.
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NIRF 2024 Rankings: Top 20 MBA Institutions in India
| Institute Name | Overall Score | NIRF Ranking 2024 |
| IIM Ahmedabad | 83.32 | 1 |
| IIM Bangalore | 81.16 | 2 |
| IIM Kozhikode | 77.9 | 3 |
| IIT Delhi | 76.25 | 4 |
| IIM Calcutta | 75.07 | 5 |
| IIM Mumbai (NITIE) | 74.73 | 7 |
| IIM Lucknow | 74.43 | 6 |
| IIM Indore | 73.53 | 8 |
| XLRI Jamshedpur | 68.13 | 9 |
| IIT Bombay | 67.16 | 10 |
| MDI Gurgaon | 66.85 | 11 |
| IIM Rohtak | 66.49 | 12 |
| SIBM Pune | 65.13 | 13 |
| IIM Raipur | 64.4 | 14 |
| IIFT Delhi | 62.36 | 15 |
| IIT Madras | 62.83 | 16 |
| IIM Ranchi | 61.27 | 17 |
| IIT Roorkee | 61.21 | 18 |
| IIT Kharagpur | 61.03 | 19 |
| SPJIMR | 60.97 | 20 |
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What are the Parameters NIRF Uses to Rank MBA Colleges?
| Parameters | Ranking Weight | Total Marks |
| Teaching, Learning & Resources (TLR) | 30% | 100 |
| Research and Professional Practice (RP) | 30% | 100 |
| Graduation Outcomes (GO) | 20% | 100 |
| Outreach and Inclusivity (OI) | 10% | 100 |
| Perception (PR) | 10% | 100 |
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The Fundamental Problem With MBA Rankings
- Median Salary, a top indicator of ROI and MBA rankings has only an 8% value in the total marks assigned to a college for rankings. It holds 40 marks in Graduation Outcomes.
- Research holds a bigger proportion in the marks which is of little to no value in an MBA program, unlike a STEM program.
- A larger batch size accounts for 6% of the total. A huge batch is no benefit to a student. After reaching a certain limit, larger batches might pose problems only. PhD students are always lesser in number at top institutions.
- Outreach and Inclusivity (10%) do not directly influence the quality of an MBA program. Faculty with a PhD (6%) can also be modified for a practical degree like an MBA, and the work experience of the professors should be valued more.
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Research is the only factor that helped IIT-Delhi rank better than IIM-Calcutta- a massive difference of 30.3 marks in the parameter having the highest weightage. IIT-Delhi’s Median Package is 24.45 LPA, almost 38% less than IIM-Calcutta (33.67 LPA). Similarly IIM-Kozhikode scores better than IIM-C due to OI and Research. The ranking does not cater to FMS-Delhi and ranks schools like Jamia and Amity in the top 30.
Conclusion
NIRF’s rankings do not do justice to MBA rankings and they should not become a factor to consider while selecting or targeting B-Schools. The factors included do not address the points necessary for an aspirant to evaluate his or her decisions. The differences exist not only among MBA colleges but also among undergraduate colleges. One should check factors like placements, alumni networks, company visits and offered roles, ROI, brand value, and batch size to make the correct decision.
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