LIST OF TOP MBA/PGDM COLLEGES IN MUMBAI BASED ON 2020 RANKING

By Pranjal Singhal
Content Curator

The top MBA colleges in Mumbai have been supporting the business hub of India by offering lucrative job options to the students. These colleges offer different management courses like MBA and PGDM. The city has 109 private and 10 government MBA colleges at present.

Top Government MBA Colleges in MumbaiTop Private MBA Colleges in Mumbai
  • Some of the top names in the city offering management education involve IIT Bombay, SP Jain (SPJIMR), Narsee Monjee (NMIMS), NITIE, etc.
  • With such a wide range of colleges in the city, almost every MBA specialization is covered ranging from Finance and Marketing to Supply Chain Management and Urban Planning.
  • Admissions are done through top exams like CAT, XAT, MAHCET and MAT. Check the list of top MBA colleges in Mumbai accepting MAT score.
  • The average fees in the best MBA colleges in Mumbai vary roughly from INR 12-18 lakh for the duration of 2 years.

Read about Top MBA Colleges in Mumbai for HR

Top MBA Colleges in Mumbai: Rankings

Rankings of the top colleges in India are released by various agencies every year. These agencies release different lists like Top MBA Colleges in India, Top MTech Colleges in India, etc. Based upon different parameters like Perception of the College, Placements, Teacher-Student Ratio, etc., these lists are also released for different cities and states in India.

Some of the top agencies in India releasing such lists are NIRF, India Today, Economic Times, etc. Listed below are ranking of top MBA colleges in Mumbai with fees.

Top MBA Colleges in Mumbai: NIRF Ranking

NIRF (National Institutional Ranking Framework) is the premier ranking agency in India and is run by the Ministry of HRD, Government of India. It releases the ranking lists for different colleges in India divided into 8 categories. The list of top MBA colleges in Mumbai as released by NIRF is given below.

College NameNIRF All India Rank 2019NIRF All India Rank 2018ChangeAverage Annual Fee
SJMSOM, Indian Institute of Technology Bombay105-5INR 4,24,000
S P Jain Institute of Management and Research1619+3INR 14,00,000
SVKM’s Narsee Monjee Institute of Management Studies2024+4INR 9,25,000
National Institute of Industrial Engineering2914-15INR 6,00,000
K. J. Somaiya Institute of Management Studies & Research54NP-INR 2,60,000

SJMSOM, IIT Bombay has been ranked as the best MBA college in Mumbai by NIRF. The institute has been given a rank of 10 in India by the national ranking agency in 2019.

  • Though the institute has been ranked as the best in Mumbai, it has seen a drop of 5 positions in its rank compared to that in 2018.
  • Other colleges in Mumbai ranked by NIRF are SP Jain, NITIE, Narsee Monjee and KJ Somaiya.
  • The best improvement among these colleges has been shown by NMIMS which has jumped up by 4 ranks while NITIE Mumbai has seen a drop of 15 ranks.

Top MBA Colleges in Mumbai: India Today Ranking

India Today is a leading news magazine in India and is published every week throughout the country. Given below is a list of top MBA colleges in Mumbai as ranked by India Today in 2019.

College NameIndia Today All India Rank 2019India Today All India Rank 2018ChangeAverage Annual Fee
SP Jain Institute of Management and Research (SPJIMR)46+2INR 14,00,000
Narsee Monjee Institute of Management Studies (NMIMS)911+2INR 9,25,000
National Institute of Industrial Engineering (NITIE)11NP-INR 6,00,000
K J Somaiya Institute of Management Studies and Research (KJ SIMSR)2526+1INR 2,60,000
L N Welingkar Institute of Management Development and Research3334+1INR 11,00,000
Sydenham Institute of Management Studies, Research and Entrepreneurship Education (SIMSREE)3944+5INR 69,000
N L Dalmia Institute of Management Studies and Research8084+4INR 4,65,000
Universal Business School8688+2INR 5,50,000
IES Management College and Research Center144168+24INR 4,00,000
Atharva Institute of Management Studies171143-28INR 1,76,000

SPJIMR Mumbai has been ranked as the best MBA college in Mumbai by India Today survey. It has been given a rank of 4 among all the top management colleges in India.

  • Othe popular MBA colleges in the city like Narsee Monjee, NITIE and KJ Somaiya have also been included in this list and are also ranked among the top 25 MBA colleges in India.
  • NITIE Mumbai, which wasn’t included in the list last year, is ranked at 11th position in India now.
  • IES Management College and Research Center still ranks at 144th position, but it has shown a tremendous improvement of 24 ranks.

You can click on the links below to read more about the admission process of these top ranked colleges.

SJMSOM IIT Bombay MBA Admission ProcessSPJIMR Mumbai MBA Admission Process
NMIMS Mumbai Admission ProcessNITIE Mumbai Admission Process
LN Welinkgar Mumbai Admission ProcessK J Somaiya Mumbai Admission Process

Top Private MBA Colleges in Mumbai: ROI (Return on Investment)

ROI or Return on Investment tells how profitable it is to pursue a particular course from a particular college. Listed below are some of the top private MBA colleges in Mumbai ROI wise.

College NameAverage Annual FeeAverage Placement PackageROI Rank*
SIMSREE MumbaiINR 69,000INR 10,92,0001
KJ SIMSR MumbaiINR 2,60,000INR 9,40,0002
Narsee Monjee Institute of Management Studies (NMIMS)INR 9,25,000INR 17,58,0003
SIES College of Management StudiesINR 3,97,000INR 6,00,0004
IES Management College and Research CenterINR 4,00,000INR 5,85,0005
LN Welingkar Institute of Management Development and ResearchINR 11,00,000INR 8,24,0006

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

SIMSREE Mumbai ranks as the best MBA college in Mumbai in terms of ROI. The institute charges a fees of just INR 69,000 per year and offers an average placement package of around INR 11 lakh to its students.

Top MBA Colleges in Mumbai: Cutoff

Different colleges admit students on different basis like entrance exams and merit lists. Most of the colleges in Mumbai accept MAT score, and also give admission through CAT and CMAT. Listed below are some of the top MBA colleges in Mumbai with their cutoff scores.

Top MBA Colleges in MumbaiCutoff
SJMSOM IIT BombayCAT Cutoff
SP Jain (SPJIMR)XAT and CAT Cutoff
Narsee Monjee (NMIMS)NMAT Cutoff
KJ SomaiyaMAT, XAT, CMAT, and CAT Cutoff
Welingkar (WeSchool) MumbaiCutoff for XAT, CAT, CMAT and ATMA
NITIE MumbaiCAT Cutoff
SIMSREE MumbaiMAT and CMAT Cutoff

Many of these colleges also offer MMS (Master of Management Studies) course. If you are interest in that, check the top 10 MMS Colleges in Mumbai.

Top MBA Colleges in Mumbai: Admission Process

There are 119 top MBA colleges in Mumbai providing quality management education to students coming from different parts of the country. These include 109 private MBA colleges and 10 public-funded MBA colleges. The following bar shows the ratio of private MBA colleges in Mumbai to public MBA colleges in Mumbai.

top mba colleges in mumbai

Source: Official Survey

Admissions to the most popular top MBA colleges in Mumbai are done through popular MBA entrance exams. Some colleges in the city also give admissions on the basis of state level entrance exams.

  • The total intake of PG seats in management colleges in Maharashtra is 52,127 as per the latest AICTE data.
  • For management courses, the boys’ enrolment in the state is 24,195 while the girls’ enrolment is 16706.
  • Apart from the entrance exams, top MBA colleges in Mumbai also make students go through rounds of Group Discussion (GD) and Personal Interview (PI).
  • Many institutes also consider the past academic records of participating students.
  • Generally, the weightage given to Entrance Exam, GD/PI, and the past academic records are 65%-75%, 20%-30%, and 5% respectively.

Narsee Monjee Institute of Management Studies (NMIMS)

Narsee Monjee Institute of Management Studies (NMIMS) is one of the top 10 MBA colleges in India. The institute has campuses at multiple cities including Mumbai, Navi Mumbai, Pune, Chandigarh, Hyderabad, and Bangalore.

  • NMIMS Mumbai has scored 3.59 CGPA on the NAAC accreditation scale.
  • The institute has been ranked as the 4th best private B-school by India Today in 2018.
  • Recently, NMIMS earned the AACSB Accreditation, earned by less than 5% of the world’s business schools.
  • NMIMS’s MBA program is divided into 6 semesters.
  • The course curriculum includes special classes for French, Spanish and German languages to help students fetch better opportunities.
  • The full NMIMS MBA program is of 111 credits with 63 credits reserved for the first year and 45 for the second year. The remaining 3 credits are for the summer internship.

Check NMIMS Mumbai Courses and Fees Detail

The seat intake of NMIMS Mumbai MBA programs is given below:

nmims mumbai seat intake

Source: Official Institute Website

So far, the institute is done with its placements for the 2017-19 batch and also with the summer placements for the 2018-20 batch.

  • This year, 179 companies visited NMIMS campus for summer placements while 166 companies came for the placements for the 2017-19 batch.
  • The highest package this year for the 2017-19 batch placements has been INR 30.37 lakh per annum (LPA).
  • The highest stipend for the 2018-20 batch summer placements has been INR 3 lakh.

The table below gives a comparison between the batch 2017-19 and batch 2018-20 of NMIMS Mumbai.

Batch2017-192018-20
Gender Ratio (Male:Female)67:3362:38
Average Work Experience18 months18 months
Average Age24 years23 years
Professionally Certified Candidates311312

The past year trends for NMIMS Mumbai placements have improved tremendously. However, the institute offers multiple MBA courses. The course-wise placement comparison of NMIMS Mumbai MBA programs is shown in the graph below.

nmims mumbai course wise placement comparison

Source: Official Institute Website

NMIMS has established itself as one of the top MBA colleges in Mumbai. Thousands of students come here from different parts of the country. The percentage of students from different parts of India are: 46% from West India, 31% from North India, 13% from East India, and 10% from South India.

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

With its Shailesh J. Mehta School of Management (SJMSOM), IIT Bombay is also dominating in the management industry in India.

  • The institute has been ranked 4th in the QS World Rankings for 2019.
  • SJMSOM-IIT Bombay’s MBA program focuses on core concepts of Financing, Accounting, Operations and also on technology aspects like Technology Policy and R&D management.
  • Admissions to MBA are done on the basis of CAT score followed by a Written Ability Test.
  • The institute’s MBA program is divided into 8 terms covering a span of 2 years.
  • The first year offers 23 courses while there are electives for the second year.
  • Apart from the summer project at the end of the first year, SJMSOM also offers an option of a 1-month winter project at the end of the first 2 terms, i.e., the first semester.

Get more details of SJMSOM IIT Bombay MBA Placements.

The following table compares the batch 2017-19 and batch 2018-20 of SJMSOM-IIT Bombay.

Batch2017-192018-20
Batch Size110113
Average Work Experience24 months27 months
Average PlacementINR 20.8 lakh (Annual CTC)INR 1.77 lakh (Monthly Stipend)

Top MBA Colleges in Mumbai With Fees

The ranking and ROI tables above have listed the fees of many top MBA colleges in Mumbai. However, some other colleges have not been covered in them. Thus, we have drawn this table below listing many other colleges in Mumbai with their fees structure.

College NameAverage Annual Fee (in INR)
Shailesh J. Mehta School of Management, IIT Bombay (SJMSOM)INR 4,24,000
National Institute of Industrial Engineering (NITIE)INR 3,50,000
S P Jain Institute of Management and Research (SPJIMR)INR 15,00,000
K J Somaiya Institute of Management Studies and Research (SIMSR)INR 3,33,000
Narsee Monjee Institute of Management Studies (NMIMS)INR 9,25,000
Prin. L.N. Welingkar Institute of Management Development and ResearchINR 55,000
SIES College of Management StudiesINR 2,20,000
ICFAI Business SchoolINR 4,00,000

Top MBA Colleges in Mumbai: Entrance Exam Wise

The top MBA colleges in Mumbai admit students through management entrance exams including CAT, XAT, NMAT, MAT, SNAP, GMAT, CMAT, MAHCET, ATMA, and IBSAT among a few others.

admissions in top mba colleges in mumbai

Source: Official Websites

Top MBA Colleges in Mumbai Accepting CAT Score

Common Admission Test or CAT is the most popular management entrance exam in India.

  • Every year, more than 2 lakh students appear for CAT. In 2019, CAT received 2.44 lakh applications for its exam on November 24.
  • Most of the top MBA colleges in Mumbai accept CAT score to admit students.
  • Even many technology institutes like IITs consider the score of CAT for their special management programs.

Following is a list of top MBA colleges in Mumbai accepting CAT score:

  • Shailesh J. Mehta School of Management, IIT Bombay
  • National Institute of Industrial Engineering-NITIE
  • SP Jain Institute of Management and Research-SPJIMR
  • Amity Global Business School

Out of the list of top MBA colleges in Mumbai, 41 accept the score of CAT so far. Some of these institutes also accept scores of certain different management entrance tests.

Top MBA Colleges in Mumbai Under CET

MAH CET or the Maharashtra Common Entrance Test is a common admission test conducted for MBA admissions in top colleges in Maharashtra.

  • The exam is conducted by the Directorate of Technical Education (DTE), Maharashtra.
  • MAH CET Syllabus consists of Logical Reasoning (75 questions), Abstract Reasoning (25 questions), Quantitative Aptitude (50 questions), Verbal Ability and Reading Comprehensions (50 questions).
  • It's score is accepted by more than 330 public/private top MBA colleges in Maharashtra and 39 colleges in Mumbai.
  • Most of the top MBA colleges release CET cut-offs which are generally 98.
  • The tentative registration dates for MAH CET 2020 are January 14, 2020-February 18, 2020.

Following is a list of top MBA colleges in Mumbai under CET:

  • Prin. L.N. Welingkar Institute of Management Development and Research-We School
  • Lala Lajpat Rai Institute of Management-LLIM
  • Xavier Institute of Management and Research-XIMR

Candidates who secure a place in the merit list released are eligible to participate in the counselling procedures of different management colleges. MAH CET result is valid for 1 year and the application fee is INR 1,000 for General category students.

Top Executive MBA Colleges in MumbaiTop Correspondence MBA Colleges in MumbaiTop Part Time MBA Colleges in Mumbai

Top MBA Colleges in Mumbai: Placement Wise

With some of the most premium management institutes located in the city, top MBA colleges in Mumbai placements have a lot to share.

  • An average MBA college in Mumbai gets 120+ placement offers every year.
  • NMIMS Mumbai witnessed 180+ recruiters visiting the campus this year.
  • The average CTC offered in these institutes remain around INR 12-15 lakh.

top mba colleges in mumbai placements

Source: Official Websites

Popular recruiters in these institutes include:

Kotak Mahindra GroupBoston Consulting GroupBajaj Auto
PricewaterhouseCoopersBarclays CapitalBharati Airtel
Reserve Bank of IndiaBloombergL’Oreal Paris
National Stock ExchangeBank of AmericaIBM
UBSGodrejHindustan Unilever

The stream in MBA you choose matters a lot and depends on the college as various colleges have reputations for specific streams. Check the top MBA colleges in Mumbai stream-wise by clicking on the links below:

Top MBA Colleges in Mumbai For Marketing

Marketing is one of the most-sought MBA specializations. Moreover, the sector is booming more than ever.

  • The advertising and marketing sector in India is expected to cross the $10 billion mark by the end of 2019.
  • The digital marketing sector is expected to grow at a compound annual growth rate (CAGR) of 33.5% till 2020.
  • Online marketing is also growing at a twofold-threefold rate.

Some of the top MBA colleges in Mumbai for marketing are:

  • Shailesh J. Mehta School of Management, IIT Bombay (SJMSOM)
  • S.P. Jain Global School of Management
  • Narsee Monjee Institute of Management Studies
  • ICFAI Business School

The average package in top MBA colleges in Mumbai for Marketing ranges from INR 6-8 lakh.

Top MBA Colleges in Mumbai For HR

Human Resource Management is an essential aspect of every IT industry and company. In the ever-advancing corporate world, HR managers ensure that every work is carried out sophisticatedly.

  • 72% of the companies worldwide believe that HR is an important element responsible for the proper functioning of the organization.
  • 83% of companies in South-Asia have prioritized HR tech advancements.
  • The global HR sector is expected to reach $30 billion by 2025.

Some of the top MBA colleges in Mumbai for HR are:

  • Jamnalal Bajaj Institute of Management Studies
  • Narsee Monjee Institute of Management Studies
  • Prin. L.N. Welingkar Institute of Management Development and Research
  • K. J. Somaiya Institute of Management Studies and Research

The average package in top MBA colleges in Mumbai for HR ranges from INR 5-7 lakh.

Also Check,

Top MBA Colleges in Navi MumbaiTop MBA Colleges in Pune
Top MBA Colleges in BangaloreTop MBA Colleges in Nagpur

Top MBA Colleges in Mumbai: FAQs

Ques. Which is the best MBA college in Mumbai?

Ans. Given below is a list of best MBA colleges in Mumbai:

  • Jamnalal Bajaj Institute of Management Studies-JBIMS
  • Shailesh J. Mehta School of Management, IIT Bombay
  • National Institute of Industrial Engineering-NITIE
  • SP Jain Institute of Management and Research-SPJIMR
  • Amity Global Business School

Ques. Is MBA losing its value?

Ans. Due to an enormous number of students pursuing MBA every year, the course’s value has deviated a bit, but still, MBA is one of the most sought courses by the recruiters in the corporate world.

Ques. Which college is best for Finance in Mumbai?

Ans. Jamnalal Bajaj Institute of Management Studies has a good reputation for its MBA Finance course.

Ques. Is Amity Mumbai good for MBA?

Ans. Amity Mumbai offers students world-class infrastructure and highly sophisticated education for the MBA course. However, education at Amity Mumbai is a bit expensive.

Ques. Is SP Jain and SPJIMR the same?

Ans. Yes, they are. The full form of SPJIMR is SP Jain Institute of Management and Research.

Ques. How can I get a scholarship for MBA?

Ans. Many organizations and institutes offer scholarships for MBA programs. 2 best ways to get a scholarship are:

  • A good score in the entrance test.
  • Extensive research work in a particular field.

Ques. Which MBA gives the highest salary?

Ans. MBA Business Analytics and MBA Marketing are some of the most rewarding MBA specializations.

Ques. Is ISB better than IIM?

Ans. ISB and IIM, both have established themselves as the most premier management institutes in India. What separates them is the fact that ISB Hyderabad asks for a 5-year pre-MBA experience from applicants. Where as, IIMs don’t keep any such criterion.

Ques. Which IIT is best for MBA?

Ans. SJMSOM-IIT Bombay offers a very good MBA course for the students. The institute has been ranked No. 4 in the world by QS World Rankings. The average CTC offered remains above INR 20 lakh.

Ques. Which private college is best for MBA?

Ans. Following is a list of some of the best private MBA colleges in Mumbai:

  • Jamnalal Bajaj Institute of Management Studies-JBIMS
  • SP Jain Institute of Management and Research-SPJIMR
  • Amity Global Business School
  • K J Somaiya Institute of Management Studies and Research
  • SIES College of Management Studies

Ques. Can I do MBA after B.Com.?

Ans. Yes, you can do MBA after pursuing a B.Com. course.

Ques. Does SP Jain have HR?

Ans. SP Jain offers PGPM in Marketing, Finance, and Operations Management.

Ques. Is IBS AICTE approved in Mumbai?

Ans. No. ISB Mumbai has not been approved by AICTE.

Ques. What are the fees of CAT exam?

Ans. The registration fees for CAT 2019 is INR 1900 for General and OBC candidates and INR 950 for SC/ST/PWD candidates.

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