IIMA attracts students who are not just proficient academically but are also talented in many other ways. Some of the awards that recognize outstanding academic and non-academic achievements include the following:
The Kollengode V. Srinivas Award: Instituted by the parents of the late Kollengode V. Srinivas to recognise the all-round performance of an outstanding student and honour the memory of Srinivas's association with the Institute.
The S. Umapathy Prize: Instituted by the brother of the late S. Umapathy to recognise the academic excellence of a student and honour the memory of Umapathy's association with the Institute.
The S. K. Seth Memorial Award: Instituted by Mrs Shanti Seth in memory of her husband, the late Sri S. K. Seth, the first librarian of the Institute.
The Academic Merit Award: Presented by The Institute and Nestle India Ltd. It carries a certificate of merit and a cash award.
IFCI and Chaudhary-Padmanabhan-Pant Award: Presented for the best Thesis Proposal.
Travel Awards: Presented for participation in international conferences.
Long Service Award: Presented to retiring employees with a record of long service in the Institute.
The Sajeev Sirpal Academic and Creativity Excellence Award: Instituted in memory of Shri Sajeev Sirpal (PGP 1984) by Kanaka Sirpal (PGP 1984) and friends to recognize excellence in academics and creativity among participants of the PGP.
The "Late Shri B. V. Doshi Memorial Entrepreneurship Assistance": Instituted in the memory of Shri B.V. Doshi by his grandson Mr. Sahil Doshi, Ivory Rose, to recognize graduating students from the PGP or PGP-FABM batches exhibiting entrepreneurial spiri.
The Smt. J Nagamma Memorial Award: Instituted in memory of Smt. J Nagamma by her son Mr. Pramod Kunju (PGP 1999). This award is meant to recognize excellence in academics of a PGP student who has obtained highest CGPA at the end of the first year.
Outstanding Sportsperson Award: This award recognizes excellence in sports.
The IIMA Alumni VVEF Outstanding Researcher Award: Instituted by the Vidya Vardhini Education Foundation, a Section 25 Company run by IIMA alumni. Every year, the Award goes to one faculty member who has contributed significantly to research.
The Marti Mannariah Gurunath Outstanding Teacher Award: Instituted by Prof Marti Subrahmanyam (1967-69), Professor at Stern School of Business, in memory of his father Mr Mannariah Gurunath. Every year, the Award goes to one faculty member who has taught the batches graduating in that convocation.