MBA Colleges in Mumbai: Ranking, Fees, & ROI

MBA Colleges in Mumbai

Mumbai, India’s financial and business capital, is also one of the top MBA destinations in the country. Indeed, Mumbai is a popular MBA destination in India. MBA colleges in Mumbai provide high-quality MBA education as well as high placement rates. It is also a centre for education in management, technology, and related fields. The Master of Business Administration, or MBA, is one of Mumbai’s most popular post-graduate programmes. The two-year programme serves as a springboard to a plethora of corporate job opportunities.

Mumbai, also known as the “City of Dreams” or the “Finance Capital of India,” is home to over 260 top MBA colleges in India. AICTE has approved 57 MBA colleges in Mumbai, while UGC has approved 17 of them. The best MBA College in Mumbai provides MBA programs with a wide range of specializations, from finance and marketing to supply chain management and urban planning.

There are approximately 106 private MBA colleges in Mumbai and 11 MBA government colleges in Mumbai out of a total of 262 MBA colleges in Mumbai. The top five MBA colleges in Mumbai, according to reputable rankings, are NMIMS Mumbai, SPJIMR Mumbai, K J Somaiya Mumbai, JBIMS Mumbai, and NITIE Mumbai. IESMCRC Mumbai, Welingkar Mumbai, SIMSREE Mumbai, SIES Mumbai, SJMSOM-IIT Mumbai, and Kohinoor Business School are other highly ranked MBA colleges in Mumbai. NIRF Ranking 2021 places Indian Institute of Technology – National Institute of Industrial Engineering, [IIT] Bombay, Mumbai, and S. P. Jain Institute of Management & Research at 10, 12, and 19, respectively. Some of the best MBA colleges in Mumbai include Shailesh J. Mehta School of Management (SJMSOM), IIT Bombay SPJIMR, and SBM NMIMS. K. C. College of Management Studies – [KCCMS] Mumbai, Mumbai University, ISMS Mumbai and KJSCCETR Mumbai are among the MBA colleges in Mumbai with Low fees than INR 60,000. The best MBA colleges in India provide lucrative placement opportunities with high pay packages and a high return on investment. The average CTC is INR 18-30 LPA. HCL, Accenture, Axis Bank, Amazon, HDFC, and other top-tier companies participate in placement drives hosted by top MBA colleges in Mumbai .The best colleges in Mumbai for MBA in Finance are SPJIMR Mumbai, SJMSOM Mumbai, and SBM NMIMS Mumbai, which are all ranked among the top 10 MBA colleges in Mumbai.

Highlights: MBA Colleges in Mumbai

Parameters	Particulars/Statistics
Number of MBA Colleges in Mumbai	180 Colleges
Fees	Annual fee: More than Rs. 5 lakh- 48% Rs. 3-5 lakh- 24% Rs. 2-3 lakh- 11% Rs. 1-2 lakh- 11% Less than Rs. 1 lakh- 6%
Top Specialisations	Finance Sales and Marketing Human Resources IT and Systems Operations International Business Supply Chain Business Analytics Entrepreneurship Healthcare and Hospital
Admission Process	CAT, MAT, XAT, CMAT, ATMA, MAH CET and more.
Number of IITs	One

Top 10 MBA Colleges in Mumbai

Here is the list of Top 10 MBA Colleges in Mumbai which is given below:

College Name	Average Fees(INR)
SPJIMR, Mumbai	17,50,000
NMIMS, Mumbai	19,76,000
NITIE Mumbai	12,53,000
JBIMS Mumbai	6,00,000
K J Somaiya Institute of Management, Mumbai	14,94,000
SIES, Mumbai	7,20,000
SIMSREE, Mumbai	1,46,000
IESMCRC, Mumbai	6,00,000
Chetana’s Institute of Management and Research	6,60,000
SDA Bocconi Asia Center, Mumbai	18,60,000

NIRF Ranking 2021: Top MBA Colleges in Mumbai

The Ministry of Human Resource Development, Government of India, manages the NIRF (National Institutional Ranking Framework), India’s premier ranking agency. It publishes rankings for various colleges in India, which are divided into eight categories.

• NIRF has named IIT Bombay the best MBA college in Mumbai. The national ranking agency has assigned the institute a ranking of 11 in India for 2021.
• Despite being ranked as the best in Mumbai, the institute’s ranking has dropped by one position since 2022.
• SP Jain, NITIE, Narsee Monjee, and KJ Somaiya are among the other Mumbai colleges ranked by NIRF.

NIRF 2021 Ranking	College Name	NIRF Score
10	Indian Institute of Technology Bombay	68.08
12	National Institute of Industrial Engineering, Mumbai	64.52
19	S. P. Jain Institute of Management & Research	58.73
22	SVKM's Narsee Monjee Institute of Management Studies	57.53
56	K.J.Somaiya Institute Of Management	46.68
72	Principal L N Welingkar Institute of Management Development and Research	43.73

MBA Colleges in Mumbai with Fees

Here is the list of MBA Colleges in Mumbai with Fees which is given:

Institute Name	Fees (In Rs lakhs)
K J Somaiya Institute of Management	14.93
Prin. L. N. Welingkar Institute of Management Development & Research	11
IMT Nagpur: Institute of Management Technology	14
SP Jain School of Global Management - Dubai - Mumbai - Singapore - Sydney	38.78
IIT BOMBAY: Shailesh J Mehta School of Management Mumbai	8.73
SIES College of Management Studies, Navi Mumbai	9
N. L. Dalmia Institute of Management Studies and Research, Mumbai	8.7
IES Management College And Research Centre, Mumbai	8.27
IIM Nagpur: Indian Institute of Management	13.75
ITM Navi Mumbai: ITM Group of Institutions	9.3
Chetana’s Institute of Management and Research - CIMR Mumbai	7.85

Top MBA Colleges in Mumbai with Low Fees

The average annual fee for pursuing MBA courses at the top MBA colleges in Mumbai is INR 55,000 – 23 Lakhs. The following are the top MBA colleges in Mumbai with low fees:

Name of the College	Average Annual Fees
K. C. College of Management Studies - [KCCMS], Mumbai	INR 45,000
Indian School of Management & Studies - [ISMS], Mumbai	INR 44,090
Mumbai University - [MU], Mumbai	INR 55,000
K. J. Somaiya Comprehensive College of Education Training and Research - [KJSCE], Mumbai	INR 36,250
IIT Bombay - Indian Institute of Technology - [IITB], Mumbai	INR 50,400
National Academy of Management Studies - [NAMS], Mumbai	INR 25,000
Hansraj Jivandas College of Education, Mumbai	INR 6,600
University of Mumbai, Institute of Distance & Open Learning - [IDOL], Mumbai	INR 17,625
SNDT Women's University, Centre of Distance Education - [SNDT CDE], Mumbai	INR 15,800
Thakur Institute of Management Studies and Research - [TIMSR] Mumbai	INR 63,791

Top 10 Government MBA Colleges in Mumbai

The following is a list of the top 10 MBA colleges in Mumbai, along with their average annual fees:

Name of the College	Average Annual Fees
Shailesh J. Mehta School of Management, IIT Bombay - [SJMSOM], Mumbai	INR 6,91,000
National Institute of Industrial Engineering - [NITIE], Mumbai	INR 7,03,000
IIT Bombay - Indian Institute of Technology - [IITB], Mumbai	INR 50,400
Mumbai University - [MU], Mumbai	INR 55,000
Shreemati Nathibai Damodar Thackersey Women's University - [SNDT], Mumbai	INR 1,00,905
Hansraj Jivandas College of Education, Mumbai	INR 6,600
Thakur Institute of Management Studies and Research - [TIMSR] Mumbai	INR 63,791
Vikas Night College of Arts Science and Commerce, Mumbai	-
Thakur Global Business School - [TGBS], Mumbai	INR 4,80,000
Sasmira The Synthetic and Art Silk Mills Research Association - [SASMIRA], Mumbai	INR 1,99,000

Top MBA Colleges in Mumbai: ROI

ROI, or Return on Investment, indicates how profitable it is to pursue a specific course from a specific college. The following are some of the best private MBA colleges in Mumbai in terms of return on investment.

Name of the College	Course Fee (in INR)	Average Annual Package (In INR)
Shailesh J. Mehta School of Management, IIT Bombay	8,67,000	21,96,000
Prin. L. N. Welingkar Institute of Management Development and Research - Online Distance Learning Center	17,250	8,61,000
SPJIMR, Mumbai	17,50,000	19,50,000
National Institute of Industrial Engineering	12,53,000	10,88,000
Pravin Dalal School of Entrepreneurship and Family Business Management, NMIMS University, Mumbai	20,87,000	15,00,000

Top MBA Colleges in Mumbai Cutoff

Different colleges admit students based on various criteria, such as entrance exams and merit lists. The majority of colleges in Mumbai accept MAT scores, as well as CAT and CMAT scores. Some of the top MBA colleges in Mumbai, along with their cutoff scores, are listed below.

Top MBA Colleges in Mumbai	MBA Cutoff
SJMSOM IIT Bombay	90 (CAT)
SP Jain (SPJIMR)	92 (CAT)
Narsee Monjee (NMIMS)	209 (NMAT)
KJ Somaiya	86 (CAT)
Welingkar (WeSchool) Mumbai	80 (CAT)
NITIE Mumbai	90 (CAT)
SIMSREE Mumbai	144 (MAHCET)

MBA Colleges in Mumbai without Entrance Exam

An entrance exam score is a requirement for admission to any prestigious management institute or business school. A student can also apply for direct admission to an MBA program without taking an entrance exam. Here is the list of MBA Colleges in Mumbai without Entrance Exam which is given below:

Institute Name	Course Offered	Fees (INR)
A.C Patil College of Engineering (ACPEC)	MBA	1.82 Lakh
Aditya Institute of Management Study and Research	MBA/MMS	7.60 Lakh
Amity Global Business School AGBS Mumbai	MBA	6.24 Lakh
Amity University (AU Mumbai)	MBA/MMS	7.44 Lakh
Anjuman-I-Islams Allana Institute of Management Study(AIAIMS)	MBA/MMS	1.20 Lakh
Aruna Manharlal Shah Institute of Management and Research (AMSIMR)	MBA	3.0 Lakh
Atharva Institute of Management studies	MBA	7.68 Lakh
Athena School of Management	MBA/MMS	12.0 Lakh
BVIMSR	MBA/MMS	4.59 Lakh
Chetana's Institute of Management and Research(CMIR)	MBA/MMS	7.50 Lakh
Chetana’s Ramprasad Khandelwal Institute of Management & Research (CRKIMR)	MBA/MMS	3.63 Lakh
D.Y. Patil University School of Management(DYPUSM)	MBA	7.80 Lakh
Deviprasad Goenka Management College of Media Studies(DGMC)	MBA	6.45 Lakh
Don Bosco Institute of Management and Research(DBIMR)	MBA	2.9 Lakh
Durgadevi Saraf Institute of Management Studies(DSIMS)	MBA	7.80 Lakh
Evolve Business School (EBS-Mumbai)	MBA/MMS	5.0 Lakh
FOSTIIMA Business School(FBS Mumbai)	MBA/MMS	7.75 lakhs
Garware Institte of Career Education and Development	MBA	1.0 Lakh
GNVS Inst. of Management (GNVSIM)	MBA	4.50 Lakh
Guru Nanak Inst. of Management Studies (GNIMS)	MBA	6.00 Lakh
H.K. Inst. of Management Studies and Research (HKIMSR)	MBA	2.03 Lakh
ICFAI Business School (IBS MUMBAI)	MBA/MMS	8.01 Lakh
IES Management College And Research Centre	MBA/MMS	7.2 Lakh
IIMI-MC, Indore – Mumbai Campus	MBA	15.00 Lakh
Indira Institute of Business Management (IIBM)	MBA/MMS	2.25 Lakh
Institute of Business Studies and Research (IBSAR)	MBA/MMS	4.95 Lakh
Institute of Management and Computer Studies (IMCOST)	MBA/MMS	3.0 Lakh
International College of Financial Planning (ICOFP)	MBA	6.50 Lakh
International Institute of Sports Management (IISM)	MBA/MMS	6.50 Lakh
ITM Group of Institutions (ITMBS)	MBA	9.3 Lakh
ITM Institute of Financial Markets (ITM IFM)	MBA/MMS	9.20 Lakh
Jamnalal Bajaj Inst. of Management Studies (JBIMS)	MBA/MMS	6.0 Lakh
Jankidevi Bajaj Inst of Management Studies (JDBIMS)	MBA	1.70 Lakh
K J Somaiya Institute of Management Studies And Research (SIMSR)	MBA	12.76 Lakh
K.C.College of Engineering and Management Study and Research (KCCOE)	MBA/MMS	2.54 Lakh
Kohinoor Business School (KBS)	MBA	5.50 Lakh
Lala Lajpatrai Institute of Management (LLIM)	MBA	2.929 Lakh
Maratha Mandir Babasaheb Gawde Institute of Management Sciences ( MMBGIMS )	MBA	2.0 Lakh
Meghnad Desai Academy of Economics (MDAE)	MBA/MMS	5.75 Lakh
MET Institute Management (METIM)	MBA/MMS	1.99 Lakh
MET Institute of Computer Science (METICS)	MBA/MMS	6.39 Lakhs
N. L. Dalmia Institute of Mngt. Studies and Research (NLDALMIA)	MBA/MMS	8.7 Lakh
Narsee Monjee Inst of Management Studies (NMIMS)	MBA	16.0 Lakh
Narsee Monjee Institute of Mgmt Studies (NMIMS)	MBA/MMS	18.5 lakh
National Institute of Industrial Engineering (NIIE)	MBA/MMS	8.19 lakh
Navinchandra Mehta Institute of Technology and Development (NMITD)	MBA	2.60 Lakh
NCRD SIMS	MBA	3.12 Lakh
PIMSR	MBA	3.90 Lakh
Prin. L. N. Welingkar Institute of Mangt. Development & Research (WE SCHOOL)	MBA/MMS	13.44 Lakh
Rajeev Gandhi College of Management Studies (RGCMS)	MBA/MMS	2.00 Lakh
Regenesys Business School	MBA/MMS	11.48 Lakh
Rizvi Institute of Mgmt. Studies and Research (RIMSR)	MBA/MMS	3.36 Lakh
Rustomjee Business School (RBS)	MBA	3.68 Lakh
Shah and Anchor Kutchhi Engineering College (SAKEC)	MBA	2.54 Lakh
SIES College of Management Studies (SIESCOMS)	MBA	7.2 Lakh
Sinhgad Institute of Business Management (SIBM)	MBA	2.50 Lakh
Sir M Visvesvaraya Institute of Mgmt. Studies and Research (SVIMS)	MBA	3.99 Lakh
SP Jain Institute of Management & Research (SPJIMR)	MBA/MMS	17.85 lakhs
SP Jain School of Global Management – Dubai – Mumbai – Singapore – Sydney	MBA	28.87 Lakh
St. Francis Inst. of Management & Research (SFIMAR)	MBA/MMS	4.02 Lakh
Sydenham Institute of Mgmt StudyStudy, Research and Entrepreneurship Education (SIMSREE)	MBA/MMS	1.36 Lakh
Tata Institute of Social Science (TISS)	MBA	0.96 Lakh
Thadomal Shahani Centre for Management	MBA/MMS	9.50 Lakh
Thakur Institute of Management Studies and Research	MBA/MMS	8.50 Lakh
Universal Business School (UBS Mumbai)	MBA/MMS	8.48 Lakh
Vidyalankar Institute of Technology	MBA	2.99 Lakh
Vivekanand Education Society Institute of Management Studies	MBA	6.50 lakh
Xavier Institute Management and Research	MBA	2.24 Lakh
YMT College of Management(YCOM)	MBA	3.02 Lakh
Mumbai Institute of Management & Research (MIMR)	MBA/MMS	2.63 Lakh
National Institute of Securities Markets (NISM)	MBA/MMS	8.0 Lakh
Parle Tilak Vidyalaya Associations (PTVAIM)	MBA/MMS	2.98 Lakh
S P More College (SPMC)	MBA	4.0 Lakh
Saket College of Management (PRTSAKET)	MBA/MMS	2.68 Lakh
Sheila Raheja School of Business Management and Research (SRBS)	MBA/MMS	2.48 Lakh
Smt. Jayshree Sharadchandra Kothari Business School (JSKB)	MBA	4.5 Lakhs
Uma Krishna Shetty Institute of Mgmt Studies & Research (UKS)	MBA/MMS	3.0 Lakh

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 2020.
• 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.

Frequently Asked Questions

Q. How much does it cost to do MBA in Mumbai?

Ans. You can see the Top MBA Colleges in Mumbai Fees structure through this article.

Q. How can I get admission in MBA in Mumbai?

Ans. Students can apply for admission to the MBA program through the MAH CET 2021. MAH CET is a state-level examination held by the Maharashtra Directorate of Technical Education for admissions to MBA/MMS/PGDBM/PGDM programs. Admission will also be based on CAT 2021, MAT 2021, XAT 2021, and CMAT scores.

Q. Which private college is best for MBA?

Ans. The following are some of the best private MBA colleges in Mumbai:

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

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

Ans. You can pursue an MBA after completing a B.Com. course.

Q. What are the fees of CAT exam?

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

Q. Between a private and a government MBA college, which is better?

Ans. Any MBA college which is UGC recognised and AICTE is approved is good, because they offer the latest curriculum. However, between private and government colleges, it is upto the candidate to decided which MBA college to choose. While private institutions have better infrastructure, government institutions charge low fees.

Q. Which is best institute for MBA in India?

Ans. IIM Bangalore is ranked No 1 B-school in India. IIM Ahmedabad and IIM Calcutta are ranked No 2 & 3 respectively. In spite of stiff competition from IIMs, Top PGDM B-schools XLRI, SPJIMR, MDI, NMIMS, IMT and IMI have held on to their leadership.

Q. Which MBA has best placement?

Ans. Top MBA Colleges in India According to the Placements

#Rank	Name of the College	Number of Companies Visited
1.	IIM Ahmedabad	125
2.	IIM Bangalore	135
3.	IIM Calcutta	393
4.	FMS Delhi	93

Q. Which MBA college gives highest salary in India?

Ans. Best Placement MBA Colleges in India

Business School	Placement 2019: Average Salary	Placement 2018: Average Salary
IIM Bodhgaya	10.90	10.60
FORE New Delhi	10.80	10.40
IIM Sirmaur	9.20	12.00
SDMIMD Mysore	7.14	6.94

Q. Which MBA has the highest salary?

Ans. Top 10 Highest-Paying MBA Concentrations

1. Finance.
2. Marketing.
3. Information Technology.
4. Information Security.
5. Human Resources.
6. Healthcare Management.
7. Real Estate.
8. International Business.

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