Mumbai is the financial capital of India and an always-thriving hub for high-grade institutions to be. Among these, there are several top MBA colleges in the city that attracts students from across the country and even internationally.

These institutes are well known for the rigorous academic environment, excellent faculty, cutting-edge infrastructure, and strong industry connections.

If you are an MBA aspirant in Mumbai, you are on a road that is marked with the staleness of career advancement, professional growth, and enriched learning experience.

Here’s an In-depth analysis of the best 10 MBA colleges in Mumbai, as per the National Institutional Ranking Framework, along with essential details on fees, placement records, and eligibility criteria.

Besides, we discuss various entrance exams accepted by these institutions and analyse if pursuing an MBA from such colleges is worthwhile to spend money on.

Let us begin with the list of the best 10 MBA colleges in Mumbai and what each of them offers.

 

S.no	Collagename	Fees	Salary	Nirf	Naac
1	SJMSOM	10 -11 LKS	20-22 LPA	11	A
2	SPJIMR	17-20 LKS	25-26 LPA	20	A++
3	NITIE	12-14 LKS	19-21 LPA	12	A+
4	JBIMS	6-10 LKS	18 -20 LPA	21	A+
5	NMIMS	20-24 LKS	18-19 LPA	25	A+
6	KJSIM	10-14 LKS	9-10 LPA	56	A
7	TISS	2-5 LKS	15-18 LPA	35	A++
8	WIMDR	11-13 LKS	8-10 LPA	68	A
9	SIESCOMS	7-9 LKs	7-8 LPA	85	A
10	LLIM	4-6 LKS	5-7 LPA	101- 150	B++

 

 

List of Top 10 MBA Colleges in Mumbai As Per NIRF Ranking

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

• NIRF Ranking: 11
• Fees: INR 10 – 11 lakhs

-NAAC Accreditation:  A

-Placement Highlights: The average salary package at SJMSOM is around Rs 20 to 22 lakhs per annum, with the top           firms such as Google, McKinsey, and Goldman Sachs as prime recruiters.

• Specializations: SJMSOM provides a wide range of specializations namely General Management, Operations, Marketing, Finance, IT & Systems, HR, and Consulting.
• Overview: Being one among the elite IIT Bombay, SJMSOM has long been imparting a very distinct blend of technology and management studies that is more or less driven by innovation and entrepreneurship, directing students toward a successful venture in the transformed business world dynamics.

2. SP Jain Institute of Management and Research (SPJIMR)

-NIRF Rank: 20

-Fees: INR 17 – 20 lakhs

• NAAC Accreditation: A++
• Placement Highlight: Average salary package is a healthy INR 25-26 lakhs per annum at SPJIMR. Top companies that recruit from SPJIMR are Amazon, Deloitte, Tata etc.
• Specializations: Finance, Marketing, Operations, General Management and Consulting are specializations that are offered by SPJIMR.

Outline SPJIMR is renowned for its socially conscious approach towards management education.

It portrays value-based learning and provides enough opportunities for students to get actively involved in social initiatives, thus letting them bloom as more wholesome professionals.

3. National Institute of Industrial Engineering (NITIE)

-NIRF Ranking 12

-Fees INR 12 – 14 lakhs

• NAAC Accreditation: A+
• Placement Highlights: The average placement package offered in NITIE is INR 19-21 lakhs per annum with topmost companies like Microsoft, Accenture, and HUL as the major recruiters.
• Specializations: Specializations at NITIE are mainly in the field of Industrial Management with other programs in Supply Chain Management, Project Management, Finance, and Marketing.
• Overview : NITIE has emerged as one of the best institutes in operations and industrial management.

Its strong alumni base and the proximity of this institute with the industrial hubs of Mumbai make it a very strong contender for placements and collaborations.

4. Jamnalal Bajaj Institute of Management Studies (JBIMS)

• NIRF Ranking: 21
• Fees: INR 6-10 lakhs
• NAAC Accreditation: A+
• Placement Highlights: JBIMS average salary package is Rs.    18-20 lakhs per annum. McKinsey, J.P. Morgan and TCS are few of its recognizable recruiters.
• Specializations: JBIMS offers extensive specializations in

Finance, Marketing, Operations, HR and General Management.

• Overview : JBIMS is commonly known as the “CEO Factory” because the alumni form a powerful business leadership group in the country.
• Located in the heart of Mumbai, this has a very strong industry interface and is very prominent for its finance programs.

5. NarseeMonjee Institute of Management Studies (NMIMS)

-Ranking in NIRF: 25

-Tuition Fees of INR 20-24 lakhs

-NAAC Accreditation A+

-Placement Highlights NMIMS offers an average salary package of INR 18-19 lakhs per year.

Some of the major recruiting companies are L’Oréal, ICICI, and EY.

-Specializations Finance, Marketing, Operations, Supply Chain, HR End.

– Overview:  NMIMS has quickly emerged as one of the premium B-schools in the country within a very short span.

The institute offers a series of MBA programs that are focused on innovation and leadership catering to different segments ranging from part-time, executive, to distance-learning programs.

 

6. K J Somaiya Institute of Management

• NIRF Ranking: 56
• Fees: INR 10 – 14 lakhs
• NAAC Accreditation: A
• Placement Highlights : Average Salary Package- INR 9-10 lakhs per annum. Delhi, HSBC, and Reliance Industries are some of the top recruiters.
• Specializations : K J Somaiya offers specializations in Marketing, Finance, Operations, HR, and IT & Analytics.
• Overview: K J Somaiya is one such institution that allows for industry-focused curriculum and more practical knowledge as a part of its teaching pedagogy.

Corporates have a very strong bonding with this institute, and the institute gives great importance to internships and live projects.

 

7. Tata Institute of Social Sciences (TISS) – School of Management and Labour Studies

• NIRF Ranking: 35
• Tuition : INR 2 – 5 lakhs
• NAAC Accreditation : A++
• Placement Highlights : The average salary from TISS is around INR 15-18 lakhs. Recruiters actively hiring students from the campus include PwC, WHO, and UNICEF.
• Specializations: TISS is renowned for its MBA in Human Resource Management, Organizational Development, Public Policy, and Social Entrepreneurship.
• Overview: TISS is a management education institution synonymous with social sciences. Its MBA in Human Resource Management is the best of all Industries and is the favorite among HR aspirants.

 

8. Wielangta Institute of Management Development & Research (WeSchool)

-NIRF Ranking: 68

-Fees: 11 – 13 lakhs

-NAAC Accreditation: A

-Placement Highlights: The average package of weSchool comes around INR 8-10 lakhs per annum.

Leading recruiters include companies like Capgemini, Infosys and Nestle.

• Specializations : WeSchool has specializations in areas such as Retail Management, Healthcare, Business Analytics, Marketing, and Finance.
• Overview : It is famous for its curriculum that is innovative, and emphasizes experiential learning. It provides a traditional management education with a blend of modern management education and focuses on building future-ready managers.

9. SIES College of Management Studies (SIESCOMS)

• NIRF Ranking: 85
• -Fees INR 7 – 9 Lakhs
• -NAAC Accreditation A
• Placement Highlights The average placement package is around INR 7-8 lakhs per annum.

Top recruiters include HDFC Bank, Kotak Mahindra, and Infosys.

-Specializations SIESCOMS offers specializations in Marketing, Finance, Operations, HR, and IT.

• Synopsis : SIESCOMS has a student-centric approach and develops the student holistically.

The institute makes sure of immense industry exposure by having internships, projects, and corporate seminars.

10. LalaLajpatrai Institute of Management (LLIM)

• Ranking in NIRF: 101-150 band
• Fee Structure: INR 4 – 6 lakhs
• Accreditation by NAAC: B++
• Placement Highlights: Average placement package-INR 5-7 lakhs per year. Top recruiter: Tata, Mahindra, Accenture, and various other players.
• Specializations in Finance, Marketing, Operations, and HR.
• Overview: LLIM offers quality management education at a reasonable price.

The institute puts special emphasis on developing leadership skill in students and provides the opportunity to interact with industry and do plenty of internships for students.

 

Is Admission to Top MBA Colleges in Mumbai Worth It?

The very question one must consider as a prospective student is whether doing an MBA from a premier college in Mumbai is a worthwhile investment.

Mumbai is not only home to some of the best management schools in the country but also to the business hub of India. This provides students with a plethora of internship and placement opportunities due to proximity to industries, MNCs, and startups.

An MBA from any of these elite colleges opens doors to highpaying job roles, with career development and a very highpowered network of alumni.

After all, the ROI in many of these colleges is very healthy, with average salary packages ranging between INR 15 lakhs to over INR 25 lakhs. Take the case of SPJIMR and JBIMS – they have churned out several CEOs and other senior executives in global firms.

However, the curricula in such top MBA colleges are also a mix of theory with practical exposure through live projects, case studies, and industry internships.

The direct classroom exposure along with real-world exposure will ensure that the students graduating from such institutions are ready to hit the industry floor.

Apart from that, these institutes offer excellent opportunities for networking through contacts with industry gurus, seminars, and alumni meets, which are very helpful for career advancement. So, pursuing an MBA from the best colleges in Mumbai is going to offer highly rewarding results both at the professional and personal level.

Entrance Exams of the Top 10 MBA Colleges in Mumbai

The major MBA institutes in Mumbai are very largely based on the scores in national-level entrance exams. Some of the prominent entrance exams accepted by the institutes are:

• Common Admission Test (CAT) : National-level entrance exam, widely accepted by Top B-schools in India. Some of the institutes like SJMSOM (IIT Bombay), SPJIMR, and JBIMS are largely based on the score obtained in CAT.
• XAT : The other entrance test; accepted by institutes like SPJIMR and K J Somaiya
• NMAT by GMAC: Accepted by NMIMS; the majority of Bschools also accept its scores, such as SPJIMR and K J Somaiya
• MAT: Accepted in institutes like WeSchool, SIESCOMS among many more.
• Common Management Admission Test (CMAT) : CMAT scores are taken by hundreds of institutes. Some of the institutes accepting CMAT scores include K J Somaiya, WeSchool, and SIESCOMS.

-Graduate Management Admission Test (GMAT) Majority

of the students prefer GMAT scores if they are international students or if they are applying to particular programs. In this way, even SPJIMR and NMIMS accept the GMAT scores for their respective courses.

Some of the colleges like JBIMS accept state-level entrance exams like Maharashtra Common Entrance Test (MAH CET) scores for admission to top MBA colleges in Mumbai.

Top 10 MBA Colleges in Mumbai Admission Eligibility

The eligibility criteria for all the top MBA colleges in Mumbai are almost similar, and there may be specific additional requirements for certain institutions. Here is the general eligibility condition:

• Academic Qualifications: The candidate must hold a bachelor’s degree from any recognized university with at least 50 percent aggregate marks for open category candidates and 45% in case of SC/ST candidates.
• Entrance Exam: One needs to have valid score under any national/ state level entrance exams that are CAT, XAT, NMAT, GMAT, MAT or CMAT.

Besides, the above JBIMS accepts the scores of MAH CET too.

• Work Experience: While experience in work is not an essential requirement for admission to most programs, however, a few institutions, in fact, SPJIMR and  NITIE, give preference to candidates having some experience while shortlisting.

Experience in work also can help the candidates with experience to perform better on personal interviews and group discussions too.

• Selection Process: All of the candidates who get shortlisted as per the scores of entrance exams are subjected to the selection process, comprising Group Discussions (GD), Personal Interviews (PI) and sometimes a Written Ability Test (WAT), at most the institutes.
• Academic Diversity: Institutes like SPJIMR value diversity in academic backgrounds, giving weightage to candidates from non-engineering backgrounds or those with unique achievements in co-curricular activities.

 

Placement Records of Top MBA Colleges in Mumbai

Placement opportunities offer one of the primary attractions in choosing an MBA from a leading institution.

As the financial and business capital of India, Mumbai provides student intern groups with direct access to the best companies in the country.

Placement trends at the top MBA colleges in Mumbai during the last few years are outlined below.

SJMSOM, IIT Bombay:  SJMSOM has a near-perfect placement record and offers average salary packages of INR 20-22 lakhs per annum. Amazon, Google, Deloitte, and even McKinsey recruit in large numbers from the institution.

• SPJIMR: SPJIMR is known for its excellent placement records. The average salary packages the institution offers can go as high as INR 25-26 lakhs per annum.
• Continuous recruiters include Amazon, TCS, and even McKinsey.
• NITIE : NITIE majorly concentrates on operations and supply chain management, hence making it the first choice of companies such as Microsoft, HUL, Accenture, and many others. The pay package is about INR 19-21 lakhs.
• JBIMS: Known as the “CEO factory, JBIMS is one institute that has actually groomed more leaders in the world. The average salary packages for such students run at INR 18-20 lakhs ,while top recruiters would include names like J.P. Morgan, McKinsey, and KPMG.
• NMIMS: Overall placements at NMIMS are good enough, where average packages go close to INR 18-19 lakhs. Recruiters include top names like L’Oréal, ICICI Bank, EY, and many more.
• K J Somaiya: With average salary packages to take home as high as INR 9-10 lakhs, the key recruiters include Deloitte, Reliance Industries, and HSBC.
• TISS: The School of Management and Labour Studies at TISS boasts of very good HR programs. Average packages include INR 15-18 lakhs. PwC, WHO, and UNICEF top the recruiters.

-WeSchool: WeSchool welcomes recruiters to the placement arena with an average package of about INR 8-10 lakhs.

• –SIESCOMS : The average salary at SIESCOMS is around INR 7-8 lakhs, with HDFC Bank, Kotak Mahindra, and Infosys being some of the top recruiters.
• LLIM: LLIM offers average packages around INR 5-7 lakhs with recruiters such as Tata, Mahindra, and Accenture majorly recruiting here.

 

Conclusion

 

Conclusion MBA from one of the best colleges in Mumbai may go a long way in charting one’s career.

The world-class faculty, state-of-the-art infrastructure, and strong corporate linkages guarantee that students from such institutions are adequately equipped to face the challenges of the business world.

Offering excellent returns on investment, these institutions here merge attractive placement packages with diversified specializations and strong industry connections.

Whether interested in finance, marketing, consulting, operations, or HR, the best MBA colleges in Mumbai set up a wonderful platform for you to embrace your professional dreams.

More than that, the richness of academic culture, besides studying in one of the world’s most vibrant cities, gives more appeal to these MBA programs.

So, if you’re planning to pursue an MBA, Mumbai’s top colleges should surely be included in your top considerations!