I have admit from below schools, can you please suggest which will be better?
1. ESADE (total cost after scholarship: 70k)
2. HHL (total cost after scholarship: 40k)
3. IE (total cost: 95k)

Note: I only know English and a major part of the fees will be paid by loan. I am currently working as a Software Engineer with Microsoft and plan to work for 2-3 years in Europe and then come back to India

This depends on your goals. I assume you have a specific role in mind that is recruited for at these schools. 

Take a look at: 

Do you need to speak the local language? www.find-mba.com/board/34713

IE and ESADE are close enough that this is perhaps a choice between Madrid and Barcelona. IE has higher employment and salary, but ESADE has better career services and slightly more satisfied students with more career progress. Either way, you won't learn much Spanish during an intensive course taught in English and will be at a substantial disadvantage unless you learn Spanish before arriving to a professional standard. The bilingual track at IE is the obvious choice.  It will take 'book Spanish' up to a more professional, living standard. 

IE prices are criminal for that price aim much higher

[Edited by Andy776 on Aug 12, 2023]

What's a better fit for this person's goals? A Spanish course and then UC3M?

IE's is way too expensive and I wont be going there. Yesterday I received admit from Frankfurt School of Finance and Management so my choices now are:
1. Esade
2. Frankfurt School
3. HHL

I plan to get into product manager/consultant roles.
Since the job market in spain is not good, will frankfurt be a better option compared to esade?

Calculate the additional salary from attending IE. Multiple it by the length of your career. Subtract the additional fees. IE is too cheap, not too expensive. 

Disagree, you cannot take the average listed salary as yours it depends on much factors. This advice is simply wrong @duncan. IE prices are criminal full stop.

Averages are averages: the difference between them is significant. Indeed, different people create and capture different amounts of value for employers. That's obvious and in no way rebuts my advice. Has the other person provided any information that suggests their outcomes will differ more from the average in Spain than in Germany? No. So, on the basis of the advice given so far, what recommendation has the highest net present value? 

IE's prices are not illegal. Hyperbole doesn't help anyone to make a better choice.   

Duncan even the person who wrote the original comment believes IE is way too expensive aha... If I were her I would live in Germany. Trust me I am 30 living in Spain; so I know a bit what I am talking about. Madrid and Barcelona salaries are no way what is claimed in either IE or ESADE's brochures (might be the ones living abroad and yet IE got excluded for hyper-inflating their stats on the FT so).... That's my opinion at least and good luck Roshni!

[Edited by Andy776 on Aug 20, 2023]

IE was excluded from the 2018 ranking, which shows that the FT audit process works. Its your opinion that IE is too expensive, but how could someone use facts to come to their own opinion? If IE is engaged in a massive fraud that defeats the FT audit process, then there are bigger problems. 

Indeed, the ranking doesn't show income for only one city. It's using PPP calculations.  That seems like the right choice to me. 

I have observed that people who study from Esade also aim for jobs in Germany. Will going to Frankfurt School instead of Esade increase my chances of Job in Germany? Will I have any advantage of studying from a German school? Do German employers check whether you have a residence permit or not? Please also keep in mind the current market situation

Europe has national, even provincial, labour markets. Study in Germany to work there. Look into the blue card visa scheme in Germany. 

Duncan and Andy, thank you very much for your guidance. I looked through everything and have joined Frankfurt School.