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Cloud computing is an emerging internet based technology. Cloud is a platform providing pool of resources and virtualization. It is based on pay-as-you-go model. The numbers of users accessing the cloud are rising day by day. Generally clouds are based on data centers which are powerful to handle large number of users. The reliability of clouds depends on the way it handle loads, to overcome such problems clouds must be featured with the load balancing mechanism. Load balancing is required as we don‟ t want one centralized severs performance to be degraded. A lot of algorithms have been proposed to do this task. In this paper we have studied the various existing load balancing algorithms and then compared them based on various parameters like resource utilization, scalability, stability etc.