Top MBA Colleges In Maharashtra
The city of Mumbai has the most top MBA institutes in India. Maharashtra has more than 592 accredited MBA/PGDM institutes. In Maharashtra, there are 522 private MBA colleges and 54 government MBA colleges. The AICTE and the UGC have authorised and recognised the majority of Maharashtra’s top MBA colleges.
The best MBA institutions in Maharashtra are well-known for their high placement rates and high Return On Investment (ROI). The average CTC offered by Maharashtra’s best MBA institutions is INR 24-30 LPA.
Top MBA Colleges in Maharashtra (Rankings)
The National Institutional Ranking Framework, or NIRF, is a government-sponsored and perhaps most reliable ranking organisation for colleges and universities in India. Candidates looking for the best MBA colleges in Maharashtra could look at the NIRF rankings to refine their choices.
|Number of MBA Colleges in Maharashtra||1004 MBA Colleges|
|Type of Colleges||Public/Government and Private Colleges|
Private- 949 Colleges
Public/Government- 55 Colleges
|Colleges Affiliated to||AICTE (All India Institute of Technical Education)|
NAAC (National Assessment and Accreditation Council)
UGC (University Grants Commission)
|Admission Process||Mostly through Entrance exams like CAT, XAT, MAT, ATMA, MAH MBA CET, etc.|
|Specializations offered by MBA Colleges in Maharashtra||Some of the specializations offered are-|
|Human Resource Management|
|Average Fees||Rs 1.0 lakhs- Rs 25 lakhs|
Top MBA Colleges in Maharashtra (Eligibility Criteria)
Candidates should review the list of MBA institutions in Maharashtra’s minimum qualifying criteria before applying, since no candidate will be considered for final admission if they do not meet the minimal requirements. The following are the essential requirements for admission to MBA colleges in Maharashtra.
- Candidates must have received the required aggregate percentage marks in their respective undergraduate degree.
- The minimal percentage required in the qualifying exam varies by institute.
- Candidates must also pass the college’s mandatory entrance examination.
|Name of the College||Eligibility Criteria|
|Indian Institute of Technology Bombay||Candidates should have a Bachelor’s or Master’s degree from a UGC recognized University with 60% (55% for SC/ST).|
Candidates should have valid CAT scores.
|Symbiosis Institute of Business Management||Applicants should be a graduate from a recognized University with minimum 50% marks.|
For SC/ST students a minimum 45% grade is required.
(Students appearing their final year examination also can apply)
|IIM Nagpur||Bachelor's degree and CAT score that clears the cutoff (domestic)|
Undergraduate degree (Minimum 3-year degree) by University recognized by AIU WITH 50% marks or equivalent GPA
Valid GMAT Score with a minimum score of 600 (overseas)
Top MBA Colleges in Maharashtra (Based on NIRF ranking)
The National Institutional Ranking Framework, or NIRF, is a government-sponsored and most reliable ranking organisation for colleges and universities in India. A list of these colleges, as ranked by NIRF Ranking 2022, is provided below.
|Name of the College||Top Recruiters|
|Indian Institute of Technology Bombay||Accenture|
|NITIE Mumbai||TATA Sky|
|SPJIMR, Mumbai||Asian Paints|
|SIBM Pune||Becton Dickinson India Pvt. Ltd.|
Tata Steel Limited and Texas Instruments (India) Pvt. Ltd.
J.P. Morgan Chase and Co.
Godrej Industries Limited and Associate Companies
Hindustan Unilever Limited
|Indian Institute of Management, Nagpur||Deloitte|
|K. J. Somaiya Institute of Management Studies & Research||Accenture|
|Institute of Management Technology, Nagpur||IPSOS Research|
Markets & Markets
The Hackett Group
Global data Research Co
|Bharati Vidyapeeth’s Institute of Management and Entrepreneurship Development||Accenture|
Exide Industries Ltd.
Jubilant Motorworks (Audi)
|Principal L N Welingkar Institute of Management Development and Research||Accenture|
K Raheja Corp
Lexi Private Limited
Finance, Marketing, Supply Chain Management, Information Technology, Foreign Trade, and many other specialities are available at top MBA institutes in Maharashtra. Maharashtra has more than 592 accredited MBA/PGDM institutes. In Maharashtra, there are 522 private MBA colleges and 54 government MBA colleges. The AICTE and the UGC have authorised and recognised the majority of Maharashtra’s top MBA colleges. Some of the greatest MBA/PGDM colleges in Maharashtra are T SPJIMR Mumbai, SIBM Pune, and Institute of Management Technology – [IMT], Nagpur.
- NIRF Ranking 2021 ranks Indian Institute of Technology Bombay, National Institute of Industrial Engineering, Mumbai, and S. P. Jain Institute of Management & Research 10, 12, and 19 among the top Management colleges in Maharashtra, respectively.
- Mumbai and Pune are home to the majority of Maharashtra’s top MBA colleges. In addition, Savitribai Phule Pune University – [SPPU] has 161 students and Mumbai University has 41 students (MU).
- Most of Maharashtra’s best MBA colleges provide admission based on the results of Management Entrance Exams such as MAH CET, CAT, SNAP, CMAT, and others, which may be followed by a Group Discussion or Personal Interview phase.
- Some of the top MBA colleges in Mumbai include SP Jain Institute of Management and Research (SPJIMR), Jamnalal Bajaj Institute of Management Studies (JBIMS), and School of Business Management NMIMS University (SBM NMIMS).
- Depending on the universities and region, the typical tuition for attending MBA/PGDM courses at Maharashtra’s best MBA colleges can range from INR 50,000 to 30 lakhs per year. Check out Maharashtra’s best government MBA schools.
- National Academy of Management Studies – [NAMS] Mumbai, Savitribai Phule Institute of Management Studies, and National Academy of Management Studies – [NAMS] Mumbai are some of the top MBA institutes in Maharashtra with fees under INR 60,000. [SPPU] Pune University S.B.E.S. College of Arts and Commerce Aurangabad, Shivaji University – [SUK], Kolhapur, and Pune. Check out the best private MBA schools in Maharashtra.
- The best MBA institutions in Maharashtra are well-known for their high placement rates and high return on investment. The average CTC offered by Maharashtra’s best MBA institutions is INR 24-30 LPA.
- Accenture, Amazon, Axis Bank, HCL, HDFC, and others are among the leading corporations that engage in Maharashtra’s best MBA/PGDM universities’ placement campaigns.
- [SPJIMR] – SP Jain Institute of Management and Research Symbiosis Institute of Business Management – [SIBM] is a business school in Mumbai. Sandip University, Pune [NMIMS Deemed To Be University] Nashik and Narsee Monjee Institute of Management Studies Some of India’s best MBA finance institutes are located in Mumbai.
Maharashtra’s Best MBA Colleges: Rankings
The rankings for various management colleges in India have been provided by a number of ranking organisations. These organisations also publish rankings in fields such as engineering, medicine, pharmacy, law, and architecture. These rankings are meticulously crafted, taking into account a variety of factors such as faculty quality, placements, university perception, gender diversity, and so on.
Some of India’s leading ranking agencies have ranked the top MBA colleges in Maharashtra, as shown below.
Maharashtra’s Best MBA Colleges: NIRF Ranking 2021
The National Institutional Ranking Framework, or NIRF, is a government-sponsored and most reliable ranking organisation for colleges and universities in India. A list of these colleges, as ranked by the NIRF Ranking 2021, is provided below.
This year, NIRF 2021 named IIT Bombay the best MBA college in Maharashtra.
- NITIE Mumbai, SPJIMR Mumbai, SIBM Pune, and Indian Institute of Management- Nagpur are among the other top entrants on the list.
- In comparison to the NIRF ranking 2020, SPJIMR Mumbai has dropped one rank.
- IIT Bombay has risen one place in the rankings. Last year, the institute was ranked 11th.
- Another top MBA college in Maharashtra that has improved its ranking this year is NMIMS Mumbai. It is now ranked 22nd, up from 24th last year.
|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|
|20||Symbiosis Institute of Business Management||58.64|
|22||SVKM's Narsee Monjee Institute of Management Studies||57.53|
|40||Indian Institute of Management||50.62|
|56||K.J.Somaiya Institute Of Management||46.68|
|69||Bharati Vidyapeeth's Institute of Management and Entrepreneurship Development||43.99|
|72||Principal L N Welingkar Institute of Management Development and Research||43.73|
|76-100||Balaji Institute of Management and HRD||-|
Times 2021 Ranking of Maharashtra’s Best MBA Colleges
Every year, the fortnightly magazine publishes a detailed rating of of India’s best MBA colleges. The top MBA colleges in Maharashtra, according to the Times rankings for 2021, are listed below.
|College Name||Times 2021 Ranking|
|K J Somaiya Institute of Management||7|
|Symbiosis Institute of Business Management||10|
|ISB&M - International School of Business and Media||15|
|Lexicon Management Institute of Leadership and Excellence||20|
|Dr. D.Y. Patil B-School||20|
|SIES College of Management Studies||22|
|N.L. Dalmia Institute of Management Studies and Research||23|
|International Institute of Management Studies (IIMS Pune)||25|
|Universal Business School||26|
|IIEBM, Indus Business School||27|
The Week’s Top MBA Colleges in Maharashtra
The Week and Hansa Research performed a joint survey of India’s best business schools, which included practically all of the country’s main education hubs. The magazine has published a list of the best MBA institutions in India, as well as other lists such as the best MBA colleges in Mumbai, the best MBA colleges in Delhi NCR, and so on.
The Week 2021 rankings have produced a list of the top business schools.
|College Name||The Week 2021 Ranking|
|SPJIMR - S.P. Jain Institute of Management and Research||7|
|Symbiosis Institute of Business Management||9|
|Pravin Dalal School of Entrepreneurship and Family Business Management||10|
|National Institute of Industrial Engineering||12|
|Shailesh J. Mehta School of Management, IIT Bombay||13|
|Symbiosis Centre for Management & Human Resource Development||18|
|Symbiosis Institute of International Business||23|
|SIMSREE - Sydenham Institute of Management Studies Research & Entrepreneurship Education||28|
|Symbiosis Institute of Operations Management||34|
|Symbiosis Institute of Digital and Telecom Management||35|
SPJIMR Mumbai was also named the best MBA institution in Maharashtra by the Week-Hansa Research study.
- Every Maharashtra college mentioned earlier in this list has improved their rating this year.
- This year, SIIB Pune has improved by 17 places in the rankings.
In August and September of 2020, a survey was done. After the following task force was involved, the validated data and perceptual scores were generated.
Maharashtra’s Best Private MBA Colleges: Return on Investment (Return on Investment)
Because MBA education is costly, it is critical to examine the return on investment before selecting a college. Some of the best MBA colleges in Maharashtra are listed here, ranked by their return on investment.
|College Name||Total Fees||Average Placement Package||ROI Rank*|
|NITIE Mumbai||INR 3,60,000||INR 19,77,000||1|
|IIT Bombay||INR 4,24,000||INR 20,80,000||2|
|IMED Pune||INR 2,42,000||INR 7,00,000||3|
|KJ SIMSR Mumbai||INR 3,30,000||INR 9,40,000||4|
|NMIMS Mumbai||INR 9,25,000||INR 17,58,000||5|
|SIBM Pune||INR 9,60,000||INR 17,48,000||6|
|SPJIMR Mumbai||INR 17,50,000||INR 22,90,000||7|
|IMT Nagpur||INR 8,20,000||INR 7,64,000||8|
|Vijay Patil School of Management||INR 14,00,000||-||-|
NITIE Mumbai is the finest MBA institution in Maharashtra in terms of return on investment.
Shailesh J. Mehta School of Management [SJMSOM] at IIT Bombay also provides a significant return on investment. The typical package on offer here is over five times the cost of a single year.
Most ranking agencies have regarded SPJIMR Mumbai as the best in the country, although an MBA from this college is a bit pricey when compared to the placement package.
IMED Pune and SIMSR Mumbai are two more top MBA institutes in Maharashtra that provide a decent return on investment.
Maharashtra’s Best MBA Colleges: Cutoffs
The table below lists some of Maharashtra’s best MBA schools as well as their cutoffs. MAHCET, CAT, MAT, and CMAT scores are accepted by the majority of these institutes.
|SJMSOM IIT Bombay, Mumbai|
|KJ SIMSR, Mumbai|
Maharashtra’s Best MBA Colleges: The Admissions Process
In Maharashtra, there are 573 MBA colleges, 517 of which are private and 56 of which are public.
Top MBA admission examinations such as NMAT, XAT, CAT, and others are used to get into the best MBA colleges in Maharashtra.
The majority of institutions choose students based on four factors: an entrance exam, a written ability test, a group discussion (GD), and a personal interview (PI).
Along with the aptitude test, several institutions hold additional rounds such as speaking events or an extempore speech round.
Bombay Institute of Technology
With an NIRF ranking of 3, IIT Bombay is the best engineering institution in Mumbai and one of the top engineering colleges in India. It is the first among Mumbai’s Top Engineering Colleges.
- IIT Bombay was founded in 1958 with the support of UNESCO.
- In research and academic programmes, the institute offers bachelor’s, master’s, and doctoral degrees.
- IIT Bombay accepts the national exams GATE, JEE Advanced, CEED, and NET.
A total of 201 PPO offers were made during the 2021 placement campaign.
- The average remuneration package was INR 25 LPA.
- IT, Engineering & Technology, Analytics, Finance, Education, and other fields were among those where placements were available.
- Uber obtained the highest CTC of INR 62 LPA and the highest foreign offer of INR 2.05 crore.
- The institute has received the highest domestic offer from Millenium, which is providing INR 62 LPA. In addition, WorldQuant is offering INR 51.71 LPA. A salary of INR 46.62 LPA is offered by Blackstone.
|Particulars||Placements Statistics Phase I|
|Total No. of Companies||28|
|No. of PPOs||201|
|Highest CTC||INR 62 LPA|
|Average CTC||INR 25 LPA|
|Highest International offer||INR 2.05 crore|
|Top Recruiting Sector||Uber, Millennium WorldQuant, Blackstone, Rubrik etc|
Institute of Management Studies, Narsee Monjee (NMIMS)
NMIMS Mumbai is one of Maharashtra’s most well-known top MBA institutes. The institute has campuses in Mumbai, Pune, and Navi Mumbai, among other cities in Maharashtra. Furthermore, NMIMS maintains campuses in Chandigarh, Hyderabad, and Bangalore.
- On the NAAC accreditation scale, the institute received a 3.59 CGPA.
- India Today named it as the fourth best private B-school in 2018.
- NMIMS Mumbai has also received AACSB accreditation, which is only given to less than 5% of business schools worldwide.
- Special classes for French, Spanish, and German are included in the course curriculum to assist students in obtaining greater chances.
- The full-time MBA programme is 111 credits long, with 63 credits in the first year and 45 credits in the second. The remaining three credits are for the internship during the summer.
Highlights of NMIMS Mumbai Placement 2021
- More than 150 organisations visited the university during the placement drive. The highest CTC, INR 34.72 LPA, was offered to students. The CTC was INR 18.45 LPA on average.
- Top 50 students’ CTC package was INR 25.16 LPA, top 100 students’ CTC package was INR 22.89 LPA, top 150 students’ CTC package was INR 21.55 LPA, and top 200 students’ CTC package was INR 20.16 LPA.
- The proposals came from the IT, analytics, consulting, start-up, and e-commerce industries, among others.
- Adidas, Asian Paints, GE, L&T, Aditya Birla Group, Max Life Insurance, CRISIL, Accenture, Amazon, and other top recruiters took part in the placement drive.
|Particulars||Placement Statistics(2019-20)||Placement Statistics (2020-21)|
|No. of Companies visited||170+||150+|
|Highest CTC (Domestic)||INR 38.57 LPA||INR 34.72 LPA|
|Highest CTC (International)||INR 58.61 LPA||-|
|Average CTC||INR 18.33 LPA||INR 18.45 LPA|
|Major Sectors||IT, analytics, Consulting, Start up & E-Commerce||IT, analytics, Consulting, Start up & E-Commerce|
|Top Recruiters||Abbott, Accenture, CISCO, Mahindra Logistics, Unacademy, Axis Bank, castrol etc||Adidas, Asian Paints, GE, L&T, Aditya Birla Group, Max Life Insurance, CRISIL, Accenture, Amazon etc|
SIBM (Symbiosis Institute of Business Management) is a Pune-based business school.
- SIBM Pune is a Symbiosis International member (Deemed University). The institute, which was founded in 1978, is frequently ranked among India’s top ten private MBA colleges.
- According to the QS World University Rankings 2018, Symbiosis International (Deemed University) is among the top 150 universities in the BRICS countries.
- Marketing, Finance, Operations, and Human Resource specialisations are available through the institute’s 2-year full-time MBA programme.
- More than 75 nationalities are represented among the university’s international students.
- For the 2-year full-time MBA programme, the institute has 180 places available.
2021 SIBM Pune Placements
During SIBM Pune Placements 2021, almost 100 firms visited the campus.
- The recruiters made a total of 192 placement offers to the students. The placement drive attracted more than 180 students.
- Students received 66 pre-employment offers from a variety of industries, including FMCG/Healthcare, IT/ITES, Auto/Manufacturing, and others.
- During the placement drive, the maximum CTC was INR 30.38 LPA. The median CTC was INR 18 LPA while the average CTC was INR 19.56 LPA.
- Accenture, Aditya Birla Group, Asian Paints, Bajaj, Phone Pe, Adidas, Hexaware, Dabur, and other top recruiters took part in the placement drive.
|Particulars||Placements Statistics (2019-20)||Placement Statistics (2020-21)|
|No. of Companies participated||90+||100+|
|No. of New Recruiters||-||35+|
|No. of Students participated||-||180+|
|No. of Offers made||186||192|
|No. of Pre placement offers||87||66|
|Highest CTC||INR 34.26 LPA||INR 30.38 LPA|
|Average CTC||INR 20.14 LPA||INR 19.56 LPA|
|Top Recruiters||Accenture, Adani, Aditya Birla Group, Bajaj Finserv, Cipla etc||Accenture, Aditya Birla Group, Asian paints, Bajaj, Phone Pe, Adidas, Hexaware, dabur etc|
Entrance Exam for Top MBA Colleges in Maharashtra Wise
CAT, SNAP, NMAT, XAT, and other top MBA admission examinations are used to get into the best MBA colleges in Maharashtra. Many institutions and universities also take MAHCET and BVP BMAT scores as part of their MBA admissions process.
Some of the best colleges are listed below, along with the entrance exam scores they accept and don’t accept.
Maharashtra’s Best MBA Colleges CET (Computer Assisted Translation)
The Maharashtra Common Entrance Test (MAH CET) is an entrance exam administered by the Maharashtra Directorate of Technical Education (DTE) for admission to Maharashtra’s top MBA institutions. The exam is held over two days and is divided into two slots, one in the morning and one in the afternoon.
- The exam is held in 47 places across India.
- Registration for MAH CET begins in the second or third week of January each year.
- The exam has 200 questions in four sections: logical reasoning (75 questions), abstract reasoning (25 questions), quantitative aptitude (50 questions), and verbal ability and reading comprehension (50 questions) (50 questions).
- Most of the leading colleges have an MAH CET cutoff percentile of 98 or higher.
- Through the CET, some of the best MBA colleges in Maharashtra are listed below.
Mumbai’s Jamnalal Bajaj Institute of Management Studies (JBIMS)
Savitribai Phule Pune University [PUMBA], Pune Shivaji University, Kolhapur, Sydenham Institute of Management Studies, Research and Entrepreneurship Education [SIMSREE], Mumbai DoMS, Savitribai Phule Pune University [PUMBA], Pune Shivaji University, Kolhapur
Maharashtra’s Best MBA Colleges Acceptance of the MAT Score
The All India Management Association (AIMA) administers the MAT, or Management Aptitude Test, for admission to more than 600 management institutes across India.
- The exam takes place four times a year, in both online and offline formats.
- The exam is usually scheduled in February, May, September, and December.
- The exam lasts 2 hours and 30 minutes, with a total of 200 questions to answer. Each question is worth one point.
- The number of attempts a candidate can make is unrestricted.
The top MBA colleges in Maharashtra that accept MAT scores are listed here.
Top MBA Colleges in Maharashtra: Placement Data Placements at Maharashtra’s top MBA colleges have performed admirably in recent years. During the placement season, the state sees an influx of some of the best firms from across the world, thanks to the presence of some of India’s top MBA colleges, such as SPJIMR Mumbai, NMIMS Mumbai, and SIBM Pune.
- In some of the best colleges, such as those affiliated with Symbiosis University, typical placement offers range from 180 to 200.
- The average placement package in Maharashtra’s best MBA universities is INR 7-8 lakh.
- Every year, 50-60 recruiters visit an average MBA programme.
|Bain & Company||Accenture Strategy||CISCO|
|Boston Consulting Group (BCG)||Morgan Stanley||BYJU’s|
|Barclays Capital||McKinsey & Company||TCS|
|Godrej||Airtel||J P Morgan|
Top Finance MBA Colleges in Maharashtra
In India, the finance industry is flourishing more than ever, and job possibilities are improving as well. The industry, which had been increasing at a pace of 15% until now, is currently growing at an 8.5 percent rate. Some of the best finance MBA colleges in Maharashtra are listed here.
- SP Jain Institute of Management and Research [SPJIMR], Mumbai Shailesh J. Mehta School of Management [SJMSOM], IIT Bombay
- WESCHOOL, Mumbai’s Prin. L.N. Welingkar Institute of Management Development and Research
- Mumbai’s SIES College of Management Studies
Frequently Asked Questions
1. How many MBA seats are available in Maharashtra?
Ans: More than 330 MBA colleges in Maharashtra will accept MAH CET 2021 exam scores for MBA/MMS admission in 2021. Between 36000 and 40000 seats are available for MBA admission in these MBA universities recognising MAH CET in 2021.
2. How can I apply for an MBA programme in Maharashtra?
Ans: The following is a list of MBA entrance tests that you can take to gain admission to an MBA school in Maharashtra.
MAH M.B.A. and M.S.C.E.T.
Entrance Exam for the CAT (IIMs)
Admission to the CMAT (AICTE)
MBA Entrance Exam MAT (AIMA)
Entrance Exam for the XAT (XLRI)
ATMA is an acronym that stands for “At (conducted by AIMS)
GMAT (Graduate Management Admissions Test) (May does not apply to all institutes)
3. Is the CET score accepted by Symbiosis?
Ans: No, SNAP scores are used to determine admission to Symbiosis institutes and affiliated B-schools. Symbiosis does not recognise MAH CET results or any other MBA admission scores.
4. What are the Narsee Monjee MBA fees?
Ans: In the ICARE-Outlook MBA India Rankings 2020, NMIMS has outperformed numerous IIMs and other prominent B-schools. 1.2 International Accreditation: The NMIMS School of Business Management in Mumbai has been awarded AACSB International Accreditation. 1.3 High Return on Investment: The MBA programme costs Rs. 21.90 lakhs.
5. Is it possible to get an MBA without taking an entrance exam?
Ans: According to the AICTE (Ministry of Human Resources Development), PGDM B-schools can accept any of the six national tests: CAT, XAT, CMAT, MAT, ATMA, or GMAT. Many universities outside of the top 100 B-schools provide direct MBA admission without the need to take an entrance exam in order to fill the seat quota.
6. What is the duration of an MBA programme?
Ans: Two-year . The standard MBA programme is a two-year full-time programme with classes held on campus. On a full-time basis, an accelerated MBA can be completed online or in person and takes 11-16 months to finish.
7. Is Dalmia willing to accept a CET score?
Ans: Candidates must have a valid score in one of the CAT/ XAT/ CMAT/ MAH-CET, MAT, or ATMA exams to be considered for admission to NL Dalmia.
8. Is a 71 percentile in the MBA CET a decent score?
Ans: Your marks should be between 80 and 90 percentile based on your percentile. Depending on your percentile, you might anticipate to be ranked anywhere between 30,001 and 40,000. You have a chance to get into top private/government universities if your rank is below 40,000.
9. What are the MAT exam fees?
Ans: The MAT 2021 exam cost is Rs. 1650/- for one MAT exam in any of the three testing modes, and Rs. 2750/- for two MAT tests.
10. Is the MAT score accepted by Jbims?
Ans: All prominent MBA colleges in Mumbai, including JBIMS and SIMSREE, would accept MAT scores through the DTE CAP process for All India category candidates. At these top MBA colleges in Mumbai, the predicted MAT cutoff percentile ranges from 99.5 to 100%.