- The fees are not like-for-like. SPJIMR's Rs 24.86 lakh includes basic hostel, XLRI's Rs 30.5 lakh leaves out hostel and mess, and MDI's fee sheet is about Rs 26.3 lakh with boarding and lodging (Rs 22 lakh without).
- For 2024-26, SPJIMR reports an average of Rs 33.6 lakh and a median of Rs 32.85 lakh, XLRI Rs 31.4 lakh and Rs 29 lakh, and MDI Rs 29.5 lakh and Rs 29 lakh.
- XLRI uses XAT 2027 (3 January 2027). MDI needs CAT 2026. SPJIMR accepts CAT or GMAT. SPJIMR and MDI close applications before CAT on 29 November 2026.
- We leave out the highest package. It is one offer, and the three reports define it differently.
XLRI vs SPJIMR vs MDI is a choice between three private schools that use three different exam routes, and the fee column is the easiest place to be misled. On their 2027-29 fee sheets SPJIMR is the cheapest once hostel is counted, MDI sits in the middle, and XLRI is the most expensive before hostel and mess are added.
Figures are as of 6 November 2026, with the batch year next to each. Date-bound items are marked with the date checked.
XLRI vs SPJIMR vs MDI at a glance: exam, fee and programme
| XLRI (PGDM BM) | SPJIMR (PGDM) | MDI Gurgaon (PGDM) | |
|---|---|---|---|
| Entry test, 2027-29 cycle | XAT 2027 (GMAT for NRI, PIO, OCI, foreign applicants) | CAT or GMAT | CAT 2026 (GMAT only for PGDM-IB) |
| Applications close | 6 Dec 2026 (XAT registration) | 27 Nov 2026 | 28 Nov 2026 |
| Fee, 2027-29 | Rs 30.5 lakh; hostel and mess extra | Rs 24.86 lakh with basic hostel | Rs 22 lakh in our table; about Rs 26.3 lakh with boarding and lodging |
| Work experience | None stated | Freshers to 5 years; not mandatory | Not a minimum; 10% weight in the first shortlist |
| NIRF 2025, Management | 10th | 20th | 9th |
| Accreditation | AACSB, AMBA, EQUIS | AACSB, AMBA, EQUIS | AACSB, AMBA, NBA, EQUIS |
SPJIMR and MDI close their applications before CAT 2026 is held on 29 November, so check how each expects your score to reach it. XAT 2027 is on 3 January 2027.
How do fee and package compare, with batch years?
| School | Fee, 2027-29 | Average (Rs lakh) | Median (Rs lakh) | Placement batch | Average divided by fee |
|---|---|---|---|---|---|
| XLRI | Rs 30.5 lakh | 31.4 | 29 | 2024-26 | 1.03 |
| SPJIMR | Rs 24.86 lakh | 33.6 | 32.85 | 2024-26 | 1.35 |
| MDI, as in our table | Rs 22 lakh | 29.5 | 29 | 2024-26 | 1.34 |
| MDI, with boarding and lodging | About Rs 26.3 lakh | 29.5 | 29 | 2024-26 | 1.12 |
The scopes differ. XLRI's report combines the PGDM (BM) and PGDM (HRM) at its Jamshedpur and Delhi-NCR campuses, 576 students in all. SPJIMR's covers its PGDM final placements. MDI's average and median cover the entire flagship PGDM batch.
Why is the fee column not like-for-like?
- XLRI: tuition is Rs 15.25 lakh a year. Mess and hostel are charged extra.
- SPJIMR: Rs 24.86 lakh includes tuition and basic hostel accommodation. Global Fast Track and International Exchange are optional extras. SPJIMR calls the figure indicative.
- MDI: the 2027-29 sheet lists tuition Rs 19,23,010, boarding Rs 2,08,400, lodging Rs 2,19,500, learning material Rs 1,24,000, student activities Rs 62,500, library Rs 75,400, alumni fee Rs 15,000 and a refundable deposit of Rs 27,500. The three instalments add up to Rs 26,55,310.
Our Rs 22 lakh for MDI matches the heads other than boarding, lodging and the deposit. All three schools say fees are subject to revision.
Median versus highest package: which should you use?
Use the median. It is the pay that half the batch reached or beat. The highest package is a single offer, and these reports define it differently. MDI's highest figure and recruiter count are institute-wide, while its average and median cover the flagship PGDM only. XLRI's report combines two programmes and two campuses and states domestic and international highest offers separately.
Median against fee gives 0.95 for XLRI, 1.32 for SPJIMR and 1.32 for MDI on its Rs 22 lakh figure, or 1.10 on about Rs 26.3 lakh. For a wider check, run your own numbers in the MBA predictor.
How do sector mix and class profile compare?
Only MDI publishes both in our data, so the comparison is partial.
- MDI (2024-26): consulting 35.1%, BFSI 23.2%, conglomerate, auto, energy and logistics 14.2%, technology, telecom and media 11.6%, FMCD and FMCG 10.3%, e-commerce 3.3%, pharma and healthcare 2.3%. The batch averaged 27 months of work experience, 24% engineers, an average CAT percentile of 96 and an average age of 25.
- XLRI (2024-26): 145 recruiters, 25 of them new. 42.5% of the cohort received pre-placement offers. No sector split or class profile is in our data.
- SPJIMR (2024-26): it reports 100% final placements for eligible participants for over 20 consecutive years. No sector split or class profile is in our data.
Which exam route does each school use?
- XLRI: Indian candidates take XAT 2027 on 3 January 2027, with registration closing on 6 December 2026. Shortlists come by the third week of January 2027 and interviews run from mid-February to March.
- SPJIMR: a qualifying score in CAT or GMAT, then profile-based shortlisting and an in-person interview in January and February 2027.
- MDI: CAT 2026. The first-stage shortlist weights CAT or GMAT at 65% and work experience at 10%.
Our CAT estimates for a roughly 50% chance of a call are 93 for SPJIMR and 95 for MDI, for a General-category candidate with an average profile. They are estimates, not official cutoffs. We do not tabulate one for XLRI's XAT route. Read the XAT exam page and the CAT page for dates and patterns.
Where is each school strongest, and what can you verify?
- XLRI: founded in 1949, and it runs both a business management and an HR programme. It cites a 2025 GHRDC ranking as the top private institute on its ranking page.
- SPJIMR: holds all three of AACSB, AMBA and EQUIS, and is recognised by AICTE as a Category I institute.
- MDI: founded in 1972, with PGDM, HRM, BN and IB tracks. Consulting and BFSI together took 58.3% of its 2024-26 placements.
Claims beyond this are opinion. Ask alumni.
How do you choose with two offers?
- Compare fees with hostel counted. SPJIMR is lowest, MDI is close to Rs 26.3 lakh, and XLRI adds hostel and mess to Rs 30.5 lakh.
- Compare medians from the same batch year.
- Match the function. Choose XLRI if you want its HR route, and check MDI's sector mix against your target.
- Note the application dates. XLRI's route closes later, so you can sit CAT before deciding.
- Ask both schools what is outside the fee sheet.