Top Management Colleges in Mumbai 2024

Mumbai has some of the top MBA colleges which offer high placement records and return of investment. The top MBA colleges in Mumbai 2023 offer various MBA specialisations. They focus on imparting leadership skills, management skills, communication skills, analytical thinking, and the ability to work efficiently under pressure. SPJIMR Mumbai, NMIMS Mumbai, SJMSOM Mumbai are some of the best MBA colleges in Mumbai 2023 for pursuing MBA. Find out all the details pertaining to some of the top MBA colleges in Mumbai 2023 on the basis of their placements, fees, cutoff, ROI, rankings etc.

Top MBA Colleges in Mumbai 2023: NIRF Ranking 2023

Candidates can see the ranking of the best MBA colleges in Mumbai 2023 as per the NIRF Ranking List 2023, a ranking body run by the Ministry of Education (MoE), Government of India:

College Name

NIRF Rank 2023 

NIRF Rank 2022

NIRF Rank 2021

Indian Institute of Technology (IIT), Bombay

10

11

10

National Institute of Industrial Engineering, Mumbai

7

9

12

S. P. Jain Institute of Management & Research

20

21

19

SVKM`s Narsee Monjee Institute of Management Studies

21

25

22

K.J. Somaiya Institute Of Management

45

71

56

Principal L N Welingkar Institute of Management Development and Research

73

68

72

Top MBA Colleges in Mumbai 2023: Times B-School Rankings 2023

Provided below are the Times B-School rankings 2023 for the top MBA colleges in Mumbai 2023.

College Name

Time B-School Ranking 2023

Times B-School Ranking 2022

K.J. Somaiya Institute of Management, Mumbai

-

7

SIES College of Management Studies, Mumbai

21

22

N.L Dalmia Institute of Management Studies And Research, Mumbai

23

23

Universal Business School, Mumbai

26

26

MET Institute of Management, Mumbai

28

28

ITM Business School, Navi Mumbai

-

28

Durgadevi Saraf Institute of Management Studies, Mumbai

36

41

Nest Academy Of Event Management And Development (NAEMD), Mumbai

-

42

Amity Business School, Amity University, Mumbai

27

49

Aditya Institute of Management Studies and Research, Mumbai

52

58

D.Y. Patil University School of Management, Mumbai

81

69

IBSAR, Navi Mumbai

-

73

Vivekanand Education Society’s Business School, Mumbai

72

74

Lala Lajpatrai Institute of Management, Mumbai

-

82

Sasmira's Institute of Management Studies And Research, Mumbai

-

84

Top MBA Colleges in Mumbai 2023: Outlook Rankings 2023

Tabulated below are the Outlook rankings 2023 for the best MBA colleges in Mumbai 2023.

College Name

Category

Outlook Ranking 2023

JBIMS - Jamnalal Bajaj Institute of Management Studies

Government

10

N L Dalmia Institute of Management Studies & ResearchPrivate

25

Institute For Technology and Management

Private

60

Principal L. N. Welingkar Institute of Management Development & ResearchPrivate

16

Vivekanand Business School

Private

68

Rizvi Institute of Management Studies and Research

Private

96

D Y Patil University School of Management

Private

120

Lala Lajpatrai Institute of Management (LLIM)

Private

81

Chetana's Institute of Management and Research

Private

128

Sheila Raheja School of Business Management & Research

171

Top MBA Colleges in Mumbai 2023 Highlights

Check out the highlights of top MBA colleges in Mumbai 2023 in the table given below:

Particulars

Details

Total Number of Colleges

228 (Approximately)

Types of Colleges

Public, Private, and Government

Colleges Approved by

Accreditation Body
  • National Assessment and Accreditation Council (NAAC)
  • National Board of Accreditation (NBA)

Admissions Through

Mostly Entrance Exam Based

Entrance Exam Accepted

  • ATMA
  • MAH CET
  • MAT
  • CAT
  • XAT and others.

Popular Specialization Offered

Finance, IT and Systems, Human Resources, Sales and Marketing, Supply Chain Management, International Business, Operations, Entrepreneurship, Business Analytics, Healthcare and Hospital.

Fee Range

Rs 1,00,000 - Rs 20,00,000 (Approximately)

Hostel Facility

Available (not at all colleges)

Top 10 MBA Colleges in Mumbai 2023: Fee Details

Candidates looking forward to join the best MBA colleges in Mumbai 2023 may checkout the fees for the colleges:

Name of the Colleges 

Fees (Approx.)

NMIMS Mumbai: School of Business Management, Narsee Monjee Institute of Management Studies - SBM Fee

Rs 20,80,000

SPJIMR Mumbai: SP Jain Institute of Management and Research Fee

Rs 17,50,000

NITIE Mumbai: National Institute of Industrial Engineering Fee

Rs 12,58,000

IIT BOMBAY: Shailesh J Mehta School of Management Mumbai Fee

Rs 8,30,000

JBIMS Mumbai: Jamnalal Bajaj Institute of Management Studies Fee

Rs 6,00,000

K J Somaiya Institute of Management, Mumbai Fee

Rs 16,29,000

SIMSREE Mumbai: Sydenham Institute of Management Studies And Research And Entrepreneurship Education Fee

Rs 1,34,000

MET Mumbai Fee

Rs 8,10,000

SIES College of Management Studies, Navi Mumbai Fee

Rs 9,00,000

IES Management College And Research Centre, Mumbai Fee

Rs 8,00,000

Admission Process of Top MBA Colleges in Mumbai 2023

Similar to other top MBA Colleges in India, top MBA colleges in Mumbai 2023 also have the online and offline admission process. The timeline of the admission process often include, filling of application form, appearing for the entrance exams or selection process, and securing of seats and taking the admissions for the desired college. However, here are some key points on the admission process of the best MBA Colleges in Mumbai 2023 are:

  • Applications forms are mostly available online, and students must fill them online directly. In some colleges, application forms may be available offline for candidates to fill up and submit. Check out the particular college to know details.
  • Candidates will have to appear for CAT, MAT, ATMA, XAT, MAH-CET exams or any institute level entrance exams for admissions to the majority of the colleges. Some colleges proceed according to the merit. Candidates must check the official website to learn details about the admission process.
  • Further, all colleges in Mumbai conduct Group Discussions or Group Exercise, Writing Ability Test, and Personal Interview. Candidates will have to undergo all the stages of the selection process.
  • Selected candidates will then appear for counselling and based on the final results, they may take admissions to their desired colleges and MBA programmes.
  • Further, candidates must have cleared their Class 10 and Class 12 with passing marks in all subjects from a recognised board of education.
  • Candidates must have completed their graduation from a recognised university with a minimum of 50-55%. However, there may be relaxation of 3%-5% for economically backwards class, gender relaxations, SC, ST, PwD relaxation as well.

Top MBA Colleges in Mumbai 2023 Based on Course Fee

Candidates interested in taking admissions to the best MBA colleges in Mumbai 2023, may check out the fees based on course:

Top Government MBA Colleges in Mumbai 2023 with Course Fee

Check out the top government MBA colleges in Mumbai along with their respective fee structure.

College Name

Annual Fee Structure

Indian Institute of Technology (IIT), Bombay Fee

Rs 2,00,000

Jamnalal Bajaj Institute of Management Studies Fee

Rs 3,01,000

National Institute of Industrial Engineering (NITIE), Mumbai Fee

Rs 6,63,000 - 14,63,000

Tata Institute of Social Sciences (TISS), Mumbai Fee

Rs 40,600 - 1,05,000

Bombay Stock Exchange (BSE) Institute, Mumbai Fee

Rs 5,60, 000 

Sasmira's Institute of Management Studies and Research Fee

Rs 3,80,000

Shailesh J. Mehta School of Management (SJMSOM), IIT Bombay, Mumbai Fee

Rs 8,32,000

Top Private MBA Colleges in Mumbai 2023 with Course Fee

Here is the list of top private MBA colleges in Mumbai with their annual course fee.

College Name

Fee Structure

S.P. Jain Institute of Management and Research Fee

Rs 16,90,000

K J Somaiya Institute of Management Fee

Rs 16,29,000 

Sydenham Institute of Management Studies Fee

Rs 51,000 

SIES College of Management Studies Fee

Rs 2,60,000

Universal Business School Fee

Rs 11,00,000

D.Y. Patil University School of Management Fee

Rs 4,20,000

MET Mumbai Fee

Rs 2,80,000 - 10,00,000

Durgadevi Saraf Institute of Management Studies Fee

Rs 4,20,000

Athena School of Management Fee

Rs 6,75,000

Top MBA Colleges in Mumbai 2023: Cutoff

Here is the list of the best MBA Colleges in Mumbai 2023 and their cutoffs:

Name of the College

Cutoff

Shailesh J. Mehta School of Management (SJMSOM), IIT Bombay, Mumbai

90 (CAT)

NMIMS Mumbai: School of Business Management, Narsee Monjee Institute of Management Studies - SBM

209 (NMAT)

S.P. Jain Institute of Management and Research

92 (CAT)

NITIE Mumbai: National Institute of Industrial Engineering

90 (CAT)

K J Somaiya Institute of Management

86 (CAT)

SIMSREE Mumbai: Sydenham Institute of Management Studies And Research And Entrepreneurship Education

144 (MAH-CET)

Principal L N Welingkar Institute of Management Development and Research

80 (CAT)

Top MBA Colleges in Mumbai 2023: Placements

Here are some of the top MBA colleges in Mumbai and their average salary in placements:

Name of the College

Average Salary in Placement (Rs in Lakhs Per Annum)

Shailesh J. Mehta School of Management (SJMSOM), IIT Bombay, Mumbai

Rs 20.8 LPA

NITIE Mumbai: National Institute of Industrial Engineering

Rs 19.77 LPA

JBIMS - Jamnalal Bajaj Institute of Management Studies

Rs 18.13 LPA

NMIMS Mumbai: School of Business Management, Narsee Monjee Institute of Management Studies - SBM

Rs 17.79 LPA

Principal L N Welingkar Institute of Management Development and Research

Rs 15 LPA

K J Somaiya Institute of Management

Rs 9.44 LPA

Top MBA Colleges in Mumbai 2023: Entrance Exams

Across India, many entrance exams are conducted on national level, state level, and institute or university level. Aspirants are admitted based on the scores achieved by the candidates in these entrance exams. Here are some of the entrance exams that are accepted in the best MBA colleges in Mumbai 2023:

Now, let us check some of the top colleges accepting scores of popular MBA entrance exams:

Top MBA Colleges in Mumbai 2023 Accepting CAT Scores

Check the detailed list below:

Name of the College

Average Annual Fees

Shailesh J. Mehta School of Management, IIT Bombay

Rs 8,32,000

SP Jain Institute of Management and Research-SPJIMR

Rs 16.90,000

Amity Global Business School

Rs 6,60,000

National Institute of Industrial Engineering-NITIE

Rs 6,63,000 - 14,63,000

Top MBA Colleges in Mumbai 2023 Accepting MAT Scores

Here are some of the best MBA Colleges in Mumbai 2023 accepting MAT scores:

Name of College

Average Annual Fees

N. L. Dalmia Institute of Management Studies and Research - [NLDIMSR], Mumbai

Rs 5,57,000

Tata Institute of Social Sciences - [TISS], Mumbai

Rs 1,00,000

SIES School of Business Studies - [SIES SBS], Mumbai

Rs 2,60,000

Kohinoor Business School - [KBS], Mumbai

Rs 5,60,000 

ISME School of Management & Entrepreneurship - [ISME], Mumbai

Rs 10,54,000

Top MBA Colleges in Mumbai 2023 Accepting CMAT Scores

Some of the colleges accepting CMAT scores for MBA admissions in Mumbai are listed below:

Name of the College

Average Fees

Rustomjee Business School - [RBS], Mumbai

Rs 1,75,000

Athena School of Management, Mumbai

Rs 6,75,000

N. L. Dalmia Institute of Management Studies and Research - [NLDIMSR], Mumbai

Rs 5,75,000

Prin. L. N. Welingkar Institute of Management Development & Research - [WeSchool], Mumbai

Rs 81,000

Jankidevi Bajaj Institute of Management Studies - [JDBIMS], Mumbai

Rs 3,00,000

Top MBA Colleges in Mumbai 2023 Accepting MAH CET Scores

Here are a few of the colleges accepting MAH MBA CET scores in Pune:

ROI of Top MBA Colleges in Mumbai 2023

Before selecting a colleges, candidates must also check the Return on Investment (ROI). It is an important parameter for the selection of college. Here is a graph the will help understand the ROI of some of the top colleges in Mumbai:

ROI Percentage={(Average Placement Package)/(Average Annual Fee)}*100%

College Name

ROI Rank*

Average Salary Offered (Annual)

Average Course Fee (Annual)

SP Jain Institute of Management and Research-SPJIMR

1

Rs 26,36,000

Rs 16,90,000

NMIMS Mumbai: School of Business Management, Narsee Monjee Institute of Management Studies - SBM

2

Rs 20,80,000

Rs 20,80,000

National Institute of Industrial Engineering-NITIE

3

Rs 19,95,000

Rs 6,63,000 - 14,63,000

Indian Institute of Technology (IIT), Bombay

4

Rs 19,06,000

Rs 8,30,000

K J Somaiya Institute of Management

5

Rs 10,08,000

Rs 16,29,000

MBA Specialisations Offered in Mumbai 2023

Here are the top specialization offered by the top MBA colleges in Mumbai 2023:

Business Administration

Travel and Tourism Management

General Management

Retail Management

Marketing 

Business Management

International Business

Healthcare Management

Business Analytics

Information Technology

Aviation Management

Banking and Insurance

Human Resource Management

Finance 

Executive MBA

Entrepreneurship and Family Business

Logistics and Supply Chain Management

Operations Management

Export ManagementStart-up Management

Digital Marketing

Project Management

Global Management

Accounting 

Rural Management

Advertising and Public Relations

Information System Management

Top MBA Marketing Colleges in Mumbai 2023

Here are some of the top colleges for MBA Marketing in Mumbai 2023:

Sl. No.

Name of the College

1.

ICFAI Business School

2.

S.P. Jain Global School of Management

3.

Narsee Monjee Institute of Management Studies

4.

Shailesh J. Mehta School of Management, IIT Bombay (SJMSOM)

Top MBA Human Resource Colleges in Mumbai 2023

Check out the best human resources colleges in Mumbai 2023 from below:

Sl. No.

Name of the College

1.

Prin. L.N. Welingkar Institute of Management Development and Research

2.

Narsee Monjee Institute of Management Studies

3.

K. J. Somaiya Institute of Management Studies and Research

4.

Jamnalal Bajaj Institute of Management Studies

Top Recruiters of MBA Graduates in Mumbai 2023

Top recruiting companies that hire MBA graduates from the colleges of Mumbai are as follows: 

Kotak Mahindra Group

Reserve Bank of India

National Stock Exchange

Boston Counsulting Group

Bank of America

L'Oreal Paris

Bajaj Auto

IBM

Hindustan Unilever

UBS

Godrej

Barclays Capital

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Showing 310 Management Colleges in Mumbai

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NITIE Mumbai is popular for Industrial Engineering and Management courses in India. NITIE offers multiple PG Diploma courses such as Industrial Engineering, Industrial Management, Sustainable Management and many more. For admission at NITIE Mumbai, a valid score in CAT is mandatory. The highest salary package offered ay NITIE placements goes up to Rs 44 LPA, and the average salary goes up to Rs 20 LPA. Some of the popular companies visiting the NITIE campus include Axis Bank, Amazon, RBL Bank and many more.
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    15,000 - 42,00,000 Fees

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  • RatingMumbai, Maharashtra
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  • #20 NIRF
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    95,000 - 20,75,000 Fees

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    ...+2 NMAT , XAT
SP Jain Institute of Management and Research (SPJIMR) is a private business school, established in 1981. It’s one of the top MBA colleges in Mumbai, accredited by AIU. The SPJIMR NIRF ranking is 21 in the management category. The popular courses offered at this institution are PGDM & PGPM. The average package offered at SP Jain Institute of Management and Research placements is Rs 23.6 LPA.
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    26,000 - 11,45,000 Fees

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    MH CET LAW Exams

    ...+6 XAT , CLAT , NEET , NMIMS NPAT , GATE , MAH MCA CET
Narsee Monjee Institute of Management Studies was established in 1981 and has since grown to become a globally renowned institution. The Shri Vile Parle Kelavani Mandal (SVKM), recognised for its social concern, decided to meet India's growing demand for management institutes. The University Grants Commission and the Ministry of Education have authorised the institute, and it is accredited by the NAAC and NBA. The management college is AACSB certified, while the Bengaluru and Hyderabad programmes are AMBA accredited. The Mumbai University was the first to recognise the institute. NMIMS currently offers 17 specialised schools and 16 fields. Management, business, commerce, and economics, pharmaceutical sciences, engineering, and technology management are among the programmes offered.
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    82,675 - 16,62,000 Fees

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KJ Somaiya Institute of Management was founded in 1981 in Mumbai as a private B-school. KJ SOMAIYA Mumbai is one of the best management colleges in India, ranking in the top amongst full & part-time MBA colleges. KJ Somaiya Institute of Management ranks 71st in the list of NIRF 2022 top Management colleges in India. KJ SOMAIYA Mumbai MBA admissions are offered on the basis of CAT/ XAT / CMAT/ NMAT scores followed by personal interview. KJ SOMAIYA Mumbai highest salary package offered was Rs 26.5 lakh per annum.
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    41,250 - 3,48,000 Fees

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    18,000 - 12,30,000 Fees

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    3,680 - 51,210 Fees

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    54,360 Fees

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Jamnalal Bajaj Institute of Management Studies is one of the top MBA colleges in Mumbai, established in 1965. It’s a private institution, approved by AICTE. The JBIMS Mumbai courses are PGDM, PGD, MBA & MMS. The admission process is simple and straightforward. The JBIMS admissions are based on the entrance exam and merit scores. The placement record of this institution is wonderful. The average placement package is Rs 27.63 LPA. The highest JBIMS Mumbai placements salary package is Rs 42 LPA. The top recruiters of this institution are Accenture, Deloitte, E&Y, DE Shaw & Co., Infosys, Piramal, HDFC Bank and many more.
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    7,900 - 69,900 Fees

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    ...+6 British Standard institute (BSI) , NCHEMS , CODL , ASCBE (Europe) , NHRD , IADL
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    1,32,000 - 5,28,000 Fees

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    ...+6 JEE Main , CMAT , GMAT , MHT-CET , CAT , MAT
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    3,100 - 38,100 Fees

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    ...+2 DTE Maharashtra , AICTE
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    ...+1 Maharashtra SSC
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    4,54,500 Fees

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Vidyalankar Institute of Technology is one of the popular management institutes in Mumbai providing admission to eligible candidates to its Master’s in Management Studies programme. The Department of Management Studies was introduced in 2007. VIT has been approved by the AICTE and is affiliated to the University of Mumbai. It has been accredited by the NAAC with an excellent grade of A+. Admission to all the courses is made purely based on entrance exams. It accepts scores of exams such as MAH-CET, CMAT, CAT, MAT, and ATM for MMS admissions. The students also get the opportunity to specialise in fields such as marketing, finance, operations, systems, and HR.
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    ...+3 CMAT , SAT India , MAH MBA CET

UBS Mumbai is one of the popular business schools in Mumbai approved by All India Council for Technical Education (AICTE). One-year full-time MBA and one year part-time EMBA are the courses offered by the Institute. Universal Business School offers MBA program in four specializations namely marketing, finance, human resource and project management. Whereas, EMBA program is available in marketing and finance only. Universal Business School placements are offered to the candidates through the help of its dedicated placement cell that works on the overall development of a candidate to make him suitable to the requirement of the industry.

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    2,96,150 - 20,32,000 Fees

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    PAF Entrance Exam Exams

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    5,000 - 3,21,000 Fees

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    10,265 - 82,300 Fees

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    80,000 - 9,99,000 Fees

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    48,915 - 1,56,000 Fees

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Sydenham Institute of Management Studies, Research, and Entrepreneurship Education (SIMSREE) was established in 1983 located in Mumbai, as a private institute. The college is approved by the AICTE and is affiliated to Mumbai University. It is one of the top and most popular Management institutes in India and offers PG and PhD courses in various specializations. The institute offers Full-time Masters Program in specializations of Finance, HR, Marketing, Operations and Systems and a part-time master’s program in Marketing and Finance. SIMSREE accepts merit scored in national level examinations of - MAH CET or CAT/ XAT/ MAT along with the merit scores.
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    10,000 - 2,41,000 Fees

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    5.5 Lacs Avg Package

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    XIC OET Exams

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    3,75,000 - 13,77,905 Fees

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    AICTE Accredition

    ...+4 NBA , PCI , ISO , DTE
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    7 Lacs Avg Package

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    MAT Exams

    ...+3 GATE , SET , XAT
MET Institute of Management is considered one of the best and top MBA colleges in Mumbai. Established in 1989, MET Institutes are ISO certified, with affiliations to the University of Mumbai, Directorate of Technical Education, AICTE, MSBTE, PCI, C-DAC - Ministry of Communications and Information Technology, and The Chartered Insurance Institute (CII), London. Ranked 19 Overall by TOI 2021. METoffers diploma, advanced diploma, master's, and doctoral degree in management specializations, pharmacy, IT, Mass media, and Bachelor in Pharmacy. For Ph.D. programs admission is based on NET-JRF/ SET/ GATE or CSIR/ UGC/ ICAR score+ PI. For management and Finance courses, it accepts MAH-CET/ CAT/ CMAT/ XAT/ ATMA/ MAT score+GD+PI. Leading companies are TCS, Edelweiss, InfoEdge, Armstrong, Honeywell, Credit Rating Analyst, Equity Research, Tax Consultant, and many more.
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  • RatingMumbai, Maharashtra
  • RatingDeemed to be University
  • Rupee

    16,000 Fees

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    UGC Accredition

    ...+1 NAAC
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    6,75,000 - 16,00,000 Fees

Athena School of Management is a premier management institution in Mumbai. The college offers two-year full-time PGDM programmes. This management college in Mumbai uses the Socrates method of teaching, in which the faculty teaches 20% of the total sessions and the remaining 80% is centered on interactive sessions, debates, and discussions. The NMAT and GMAT scores of applicants are used to determine admission to Athena School of Management. ITC, Kotak and Vodafone are some of the top recruiters that visit Athena School of Management.

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  • Rupee

    5,415 - 2,12,000 Fees

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    NAAC Accredition

    ...+1 National Assessment and Accreditation Council (NAAC)
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    5.75 Lacs Avg Package

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    XAT Exams

    ...+6 CAT , Maharashtra HSC , CMAT , CBSE 12th , MAT , MAH MBA CET
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FAQs

Which courses are provided at the MBA colleges of Mumbai?

Apart from the course of MBA, the MBA colleges of Mumbai also offer various diploma, certificate, and post graduate diploma in management. Degrees of MMS and MFM are also provided at the PG level.

Is hostel facility available at the MBA colleges of Mumbai?

Yes, almost all the MBA colleges of Mumbai offer student accommodation and hostel facility to students.

Which is the most popular MBA specialisation in the management colleges of Mumbai?

The MBA specialisation of Finance has the maximum demand and popularity in the MBA colleges of Mumbai.

How many MBA colleges in Mumbai offer MBA in Digital Marketing?

The MBA colleges of Mumbai offering MBA in Digital Marketing are Garware Institute Of Career Education And Development, Rizvi Institute Of Management Studies And Research, and Wici Mumbai.

Can I pursue MBA in part time mode from an MBA college in Mumbai?

Yes, there are several MBA colleges in Mumbai which offer the degree in part time mode. Jamnalal Bajaj Institute Of Management Studies, NMIMS, KJ Somaiya, GICED, Universal Business School, etc. are some of the most popular part time MBA colleges in Mumbai.

What is the average fee of MBA colleges in Mumbai?

The average course fee of MBA colleges in Mumbai is approximately Rs. 6-8 lacs.

Which are some of the leading MBA colleges in Mumbai?

Some of the best MBA colleges in Mumbai are S.P. Jain Institute Of Management And Research, K. J. Somaiya Institute Of Management Studies And Research, Narsee Monjee Institute Of Management Studies, Garware Institute Of Career Education And Development, etc.

Which MBA entrance exams should I give for admission to an MBA college in Mumbai?

Different MBA colleges of Mumbai accept different MBA entrance exams for their selection process. Some of the most popular exams are CAT, CMAT, MAT, and MAH CET.

How many private MBA colleges are available in Mumbai?

Among all the MBA colleges in Mumbai, around 210 are privately funded.

How many MBA colleges are there in Mumbai?

The number of total MBA colleges in Mumbai is over 220.

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