1. The "Finance Premium" (IIM Bangalore & SPJIMR)

IIM Bangalore continues to lead the pack with an average stipend of ₹3.78 Lakh for two months.

• The Peak: The ₹9.00 Lakh highest stipend is almost exclusively reserved for Front-end Investment Banking (IB) and Private Equity (PE) roles.

• SPJIMR Mumbai: Close behind with an average of ₹3.12 Lakh, SPJIMR has solidified its reputation as a Finance and Product Management powerhouse, often beating older IIMs in niche tech-product roles.

2. The "Consulting & HR" Strongholds (XLRI & IIM Lucknow)

• XLRI Jamshedpur: Maintaining its dominance in Human Resources (HRM) and BFSI, XLRI saw an average stipend of ₹3.34 Lakh. For HR aspirants, XLRI remains the undisputed #1, with global firms offering top-tier packages.

• IIM Lucknow: A favorite for Global Strategy Consulting, its highest stipend of ₹7.90 Lakh reflects the intense competition among firms like McKinsey, BCG, and Bain to lock in talent early.

3. The ROI Champion: FMS Delhi

While FMS has a slightly lower average stipend of ₹2.68 Lakh, remember that their total two-year fee is also roughly ₹2.5 Lakh.

• The Achievement: An FMS student effectively recovers their entire tuition fee through just a two-month summer internship. This makes FMS the most financially liberating B-school experience in the country.