For those planning for a post-graduate business degree from an Indian business school, the CAT and the GMAT are the most popular entrance exam choices though there are other tests including the XAT, CMAT, ATMA, MAT along with the Common Entrance Tests for various states.
With more Indian business schools accepting the GMAT score, many MBA aspirants are now opting for the GMAT. The GMAT score is valid for a longer period and can also be used to apply to international programs.
GMAT India statistics
According to data from GMAC, here’s the total number of GMAT tests taken in India:
| Year | 2016 | 2017 | 2018 | 2009 | 2020 |
| Total GMAT tests taken | 33,046 | 32,514 | 32,425 | 30,590 | 26,129 |
Each valid GMAT score can be sent to multiple programs. In 2020, 73,037 scores were sent (meaning each valid score was sent to roughly 3 programs), out of which 79.3% were sent to MBA programs, 18.9% were sent to Business Master’s while 1.8% were for Doctoral and other programs.
14,143 of these scores were sent to Indian programs in 2020, which constitutes 19.4% of the total scores sent; this proportion was lower at 17.3% in 2016.
This indicates that there has been an increased interest in Indian MBA programs among Indian GMAT test takers in spite of the fact that the number of GMAT tests taken in India has shown a decline in the last four years.
In this article, we’ve covered some of the top MBA programs in India that accept GMAT scores. Some of these programs require mandatory work experience while others do not have any minimum work experience criteria.
Top Indian business schools that accept GMAT scores
| College/business school name | Program name | College location | Program duration | |
|---|---|---|---|---|
| 1. | Indian School of Business (ISB) | Post-graduate programme in Management (PGP) | Hyderabad, Mohali | 1 year |
| 2. | Indian Institute of Management Ahmedabad (IIMA) | Post Graduate Programme in Management for Executives (MBA-PGPX) | Ahmedabad | 1 year |
| 3. | Indian Institute of Management Bangalore (IIMB) | Executive Post Graduate Programme in Management (EPGP) | Bangalore | 1 year |
| 4. | Indian Institute of Management Calcutta (IIMC) | MBA for Executives (MBAEx) |
Kolkata | 1 year |
| 5. | Indian Institute of Management Indore | Executive Post Graduate Programme in Management (EPGP) | Indore | 1 year |
| 6. | Indian Institute of Management Lucknow | International Programme in Management for Executives (IPMX) | Noida | 1 year |
| 7. | Xavier School of Management (XLRI) | EX-PGDM Earlier called PGDM (GM) |
Jamshedpur/Delhi NCR | 15 months |
| 8. | Institute of Management and Technology (IMT) | Post Graduate Diploma in Management (PGDM) | Ghaziabad, Nagpur, Hyderabad | 2 years |
| 9. | Management Development Institute (MDI) | PGDM PGDM-HRM PGPM-IB PGDM |
Gurgaon Murshidabad |
2 years |
| 10. | Great Lakes | Post Graduate Diploma in Management (PGDM) Post Graduate Program in Management (PGPM) |
Chennai | 2 years 1 year |
| 11. | SP Jain Institute of Management & Research (SPJIMR) | Post Graduate Diploma in Management (PGDM) | Mumbai | 2 years |
| 12. | SDA Bocconi Asia Center | International Master in Business (IMB) | Mumbai & Italy | 2 years |
| 13. | MICA | Post Graduate Diploma in Management – Communications (PGDM-C) Post Graduate Diploma in Management (PGDM) |
Ahmedabad | 2 years |
| 14. | TAPMI | MBA MBA- Banking and Financial Services (MBA-BKFS) MBA- Human Resource Management (MBA-HRM) MBA- Marketing |
Manipal | 2 years |
| 15. | Masters’ Union | PGP in technology and business management (PGP TBM) | Gurugram | 16 months |
NMIMS, IIFT allow GMAT score to be used only for NRI or foreign nationals.
Programs offered by ISB, IIMA, IIMB, IIMC and IIM Indore have earned international recognition by making its way to the prestigious FT (Financial Times) global MBA rankings.
Indian School of Business
The Indian School of Business (ISB) PGP program is one of the top choices among the Indian MBA program. With campuses in Hyderabad and Mohali and an international exchange programme, this full-time one-year residential program has been one of the most-sought after MBA programs for Indian aspirants.
Candidates with 2-20 years of experience are eligible to apply. The average work experience of the incoming students is 3.75 years.
GMAT scores are valid for a five-year period. With a mean GMAT score of 707 and a median of 710, the most recent batch of 2021 recorded an average salary of INR 27.13 lakhs.
The fee for the academic year 2022-23 is INR 39,63,000 plus taxes includes tuition, boarding and lodging.
Read more about ISB Hyderabad / Mohali.
Indian Institute of Management Ahmedabad
Among the IIMs, the one year full-time residential MBA-PGPX has earned a solid reputation over the years. While the average GMAT score is over 700, the average work experience is over 8 years. GMAT scores are valid for five years.
A minimum of 4 years of full-time work experience is required to apply. The program includes an International Immersion that allows students to be involved in two intensive weeks of academics in an international location. The program fee for the 2022-23 batch is INR 30 lakhs.
Indian Institute of Management Bangalore
The one-year full-time EPGP at IIMB is another top program for experienced professionals. Work experience of 5-12 years is required to be able to apply. The most recent batch has an average work experience of 7.42 years.
GMAT scores up to five years from application date can be used to apply. The average GMAT score was 690. The mean salary for the 2020 batch was 29.88 lakhs. The program fee is INR 29 lakhs including tuition, accommodation and international immersion.
Indian Institute of Management Calcutta
IIM C’s one-year full-time residential program – MBAEx is suited for those with more than five years of work experience. The most recent batch (2021-22) had an average GMAT score of 685, average age of 30.6 years and an average work experience of 8.1 years.
GMAT scores taken within 3 years are valid. The average salary of the batch of 2020 was INR 26.24 Lakh. The program fee for 2022-23 will be INR 27 lakhs.
Indian Institute of Management Indore
The one-year EPGP offered by IIM Indore is another program that has made it to the FT global MBA rankings. A minimum of 5 years of work experience is mandatory while applying. GMAT scores up to five years from the application date can be used.
The average GMAT score for the 2021-22 batch is 650 while the average age is 32 years and the average work experience is 9.1 years. The program fee is INR 22, 11,800.
Indian Institute of Management Lucknow
IIM Lucknow offers the one-year residential IPMX at its NOIDA Campus. Five years of work experience and a valid GMAT score is required to be able to apply. The average work experience is 8.3 years.
The program fee is INR 23,50,000 which includes tuition fee, accommodation and food charges. It also includes costs incurred during the Overseas Module. The average CTC of the batch of 2020 was INR 21.56 lakhs with the highest package being INR 52.96 lakhs.
Xavier School of Management (XLRI)
XLRI accepts the GMAT scores for its Ex-PGDM (General) program. This program which was earlier known as GMP is a fifteen-month long full-time residential program and also includes 3 months of field-based training in a functional area.
The average age of the incoming batch is 29 years with the average work experience being around 6 years. Applicants are required to have a minimum of 5 years of work experience. The program fee is INR 20 lakhs for the year 2022-23.
The batch of 2021 received a median salary of INR18.5 lakhs and the highest salary of INR 34.3 lakhs.
NRI or foreign candidates can apply to other XLRI programs as well using the GMAT score.
IMT (Institute of Management and Technology)
IMT offers two-year full-time PGDM programs. It has campuses in multiple cities; the original campus was established in1980 in Ghaziabad. The courses offered include PGDM Full Time, PGDM Marketing, PGDM Finance, PGDM Banking and Financial Services (BFS)
IMT Nagpur started in 2004. These courses are offered on the Nagpur campus – PGDM, PGDM (Financial Management), PGDM (Marketing)
The most recent addition, IMT Hyderabad which was set up in 2011 offers PGDM General, PGDM Marketing PGDM Finance.
Freshers as well as students appearing for their final-year degree examination can apply. GMAT scores can be up to four years old. The average CTC is INR 12.42 lakhs.
The tuition fee is quite low at INR 1.11 lakhs for two years.
Management Development Institute (MDI)
MDI also accepts the GMAT score for its PGDM, PGDM-HRM, PGPM-IB programs. For the PGDM and PGDM-HRM, no work experience is required and final year students can also apply. (3-year bachelor’s degree is accepted). The fee for the two-year PGDM/PGDM-HRM is INR 21.34 lakhs.
For the PGPM-IB program, at least 4 years of bachelor’s degree and 1 year work experience is required to qualify. The fee for the PGDM-IB two-year program is INR 25 lakhs.
Great Lakes
PGDM – The two-year, PGDM is a good choice for those with less than 2 years of work experience. Freshers can also apply. The average age of the batch is 23 years with 1.2 years being the average work experience.
PGPM – Those with more than 2 years of work experience can apply to the PGPM program. This one-year full-time program includes an optional semester abroad and short-term international immersions. Applicants with exceptional profiles are considered even with less than 2 years of work experience.
SP Jain Institute of Management & Research (SPJIMR)
SPJIMR’s two-year full-time PGDM is another program that does not require any work experience. Students in their final year can also apply. GMAT score up to 3 years old can be used to apply.
The program fee for 2021-23 for Indian students is INR 19 lakhs which includes tuition fee, accommodation and Global Fast Track.
SDA Bocconi Asia Center
The IMB program comprises two 11-month modules including a 4 month long international immersion spent in Milan, Italy on the Bocconi campus. Freshers, final year students as well as professionals with less than 5 years of work experience can apply.
For the 2019-21 batch, the average age was 24 years; 42% of the students were from engineering background. The average work experience was 1.5 years while the average salary was INR 11.43 lakhs.
MICA
The PGDM-C and PGDM are two-year residential management programs with a focus on marketing and communications. Work experience is not mandatory. Candidates appearing for their final exams in Bachelor’s can also apply.
The programs include a 8-10 week long summer internship at the end of the first year as well as a 7 day rural immersion program. The program cost is INR 21 lakhs which includes fees, residential charges and infrastructure facility charges. The batch of 2020 received an average salary of INR 13.9 lakhs and the highest salary of INR 58.2 lakhs.
T. A. Pai Management Institute (TAPMI)
TAPMI offers four different programs – MBA, MBA- Banking and Financial Services (MBA-BKFS), MBA- Human Resource Management (MBA-HRM) and MBA- Marketing (MBA-Marketing)
Work experience is not required, final year students can apply. GMAT scores up to five years from application date can be used. The program Fee for Indian nationals is INR 16 lakhs for 2 years and INR 3.45 lakhs for hostel fees. The average salaries across the programs range from INR 9.3 lakhs to INR 11.2 lakhs.
Masters’ Union
The recently launched PGP TBM program got off to a good start which is reflected in the placement statistics of its first graduating batch. The average CTC of the entire batch is INR 29.12 lakhs while freshers received an average CTC of INR 23.20 lakhs.
Work experience is not a compulsory requirement, however 2-4 year of professional experience is preferred. The program includes industry immersion where students can immerse themselves for 4 months in a company or industry of their choice.
The average age of the incoming batch is 25.7 years and the average work experience is 3 years. The average GMAT Score is 705. The program fee is INR 20 lakhs plus GST (INR 3.6 lakhs)
Also check out:
– GMAT preparation guide
– How I got into IIMA, IIMB and IIMC and scored a hat-trick
References: 1, 2
You missed out National Institute of Bank Management, Pune – an autonomous institute established by RBI.
They accept both GMAT and. GRE!