Purpose: This paper aims to explore the student psychological contract in the post-pandemic induced hybrid mode of the academic ecosystem in residential business schools of India. The study puts forth three facets of understanding student expectations for contract fulfillment: the business school, academic staff (faculty) and peers. Design/methodology/approach: Using a sequential mixed methodology (qualitative and quantitative), data were gathered and analyzed in two phases. Perceptions of students regarding their expectations were captured through in-depth semi-structured telephonic interviews. The sample comprised 64 students pursuing two years of full-time master's in management courses at four residential business schools in India. Data obtained through interviews were analyzed using thematic analysis. The themes extracted were prioritized using the analytical hierarchy process (AHP) in the second phase. Findings: The study provides insight into the prioritized expectations of students from their peers, academic staff and the institute. The findings of the study propose that though the expectations may differ across different groups, the mutual interdependence of these groups was mandatory for contract fulfillment. Originality/value: Research on student psychological contracts in the hybrid mode of business education is scarce. The study provides a holistic perspective on this from the lens of students.