Choosing between an IIM and a non-IIM business school is a critical decision for MBA aspirants. While the Indian Institutes of Management (IIMs) are often seen as the gold standard, leading non-IIM institutions such as SPJIMR Mumbai and MDI Gurgaon have also delivered impressive placement outcomes. This article provides a snapshot of fees and average cost-to-company (CTC) figures for selected programs, helping you weigh the investment against potential returns.
IIM Ahmedabad
IIM Ahmedabad’s MBA fee is approximately ₹25 lakh, with the latest average campus CTC reported at around ₹34.45 LPA. These figures highlight the scale of investment required for a flagship IIM program. Actual costs may vary based on additional expenses and individual circumstances.
IIM Bangalore
IIM Bangalore lists its MBA fee at about ₹24.5 lakh, while the most recent average CTC stands at roughly ₹35.92 LPA. Students should also factor in living expenses and other program-related costs when estimating total expenditure.
IIM Calcutta
IIM Calcutta charges an MBA fee of around ₹27 lakh, with an average CTC of about ₹35.07 LPA. Its fee is on the higher side among the selected IIMs. Placement averages reflect the entire graduating batch and do not guarantee individual earnings.
SPJIMR Mumbai (Non-IIM)
SPJIMR is a major non-IIM benchmark. The Class of 2026 reported an average CTC of ₹33.75 LPA, a median CTC of ₹32.85 LPA, and the highest CTC at ₹75 LPA. The institute achieved 100% placements for its combined PGDM and PGDM(BM) cohort.
MDI Gurgaon (Non-IIM)
MDI Gurgaon also posted strong placement numbers for 2026. Its flagship PGDM average package was ₹29.5 LPA, with a median of ₹29 lakh and a highest package of ₹97.5 LPA. The institute reported 157 recruiters and 189 pre-placement offers during the process.
Beyond the Numbers
Fees and average CTC are useful starting points, but they don’t tell the full story. Prospective students should also consider program structure, location, specializations, placement roles, batch size, scholarships, financing options, and long-term career goals when comparing IIM and non-IIM options.
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