Best MBA Colleges in Mumbai: Selection Process, Ranking and More

By Shubhra Anand Jain|Updated : November 2nd, 2022

MBA Colleges in Mumbai provide high-quality MBA education as well as excellent placement opportunities. Mumbai, also known as India's business capital”, is a popular destination for MBA aspirants as Mumbai offers high-quality education with great placement opportunities. There are more than 206 MBA colleges in Mumbai, including JBIMS Mumbai, JBIMS Mumbai, SJMSOM-IIT Mumbai, and many more. 

Mumbai is a hub for education in management, commerce, technology, and science, so you will get various MBA specializations in colleges. In this article, BYJU’S Exam Prep experts have listed the top 10 MBA colleges in Mumbai so that the aspirants can make their preferred list for MBA admission in Mumbai. Admission to MBA colleges in Mumbai is mainly through the MBA entrance exams, including CAT, XAT, CMAT, MAT, GMAT, MAH-CET, and many more.

MBA Colleges in Mumbai Highlights

The candidates who are interested in joining colleges in Mumbai to study MBA must be aware of the below important highlights. Note the table below to get an idea of the key highlights for the best MBA colleges in Mumbai.

Parameters

Details

Number of MBA colleges in Mumbai

180-300 (approximately)

MBA colleges in Mumbai Fees

The annual fee for MBA colleges in Mumbai varies from Rs 1 lakh to more than Rs 5 lakh.

Top Specialisation Offered by MBA colleges in Mumbai

Finance

Sales and Marketing

Operations

Human Resources

IT and Systems

Business Analytics

Entrepreneurship

International Business

Supply Chain

Healthcare and Hospital

Leadership

MBA colleges in Mumbai Entrance Exam

CAT, XAT, CMAT, MAT, GMAT, MAH-CET and many more.

The number of IITs

IIT Mumbai

MBA Colleges in Mumbai: NIRF Ranking 2022

NIRF ranking is given by MOE, Government of India, based on various parameters, including research, teaching and learning, professional activities, and career opportunities. Check the below table for the best MBA colleges in Mumbai as per NIRF 2022 ranking.

Best MBA Colleges in Mumbai

NIRF Ranking 2022

National Institute of Industrial Engineering, Mumbai

9

IIT Bombay

11

S. P. Jain Institute of Management and Research, Mumbai

21

SVKM`s Narsee Monjee Institute of Management Studies

25

Principal L N Welingkar Institute of Management Development and Research

68

K.J Somaiya Institute of Management

31

Top 10 MBA Colleges in Mumbai: Entrance Exam Accepted

Apart from the above-mentioned Colleges in MBA to study MBA, there are some other best institutes. Note the table below to get a list of the Top 10 MBA Colleges in Mumbai along with the exam accepted by this institute.

Sl No:

Top 10 MBA Colleges in Mumbai

Exam Accepted

1.

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

CAT/GMAT/CMAT

2.

S. P. Jain Institute of Management and Research, Mumbai

CAT/GMAT

3.

JBIMS, Mumbai- Jamnalal Bajaj Institute of Management Studies

CAT/GMAT

3.

SVKM`s Narsee Monjee Institute of Management Studies

NMAT

4.

NITIE- National Institute of Industrial Engineering, Mumbai

CAT/GMAT/GATE

5.

K. J. Somaiya Institute of Management

CAT/NMAT/GMAT/XAT/CMAT

6.

Principal L N Welingkar Institute of Management Development and Research

CAT/XAT/GMAT/CMAT/ATMA

7.

TIMSR-Thakur Institute Of Management Studies And Research, Mumbai

CAT/XAT/GMAT/CMAT

8.

TISS Mumbai

TISSNET

9.

Alkesh Dinesh Mody Institute For Financial And Management Studies, Mumbai

CAT/MAH-CET

10.

IBS-ICFAI Business School, Mumbai

CAT/NMAT/GMAT/IBSAT

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Admission Eligibility of Best MBA Colleges in Mumbai

If you want to pursue an MBA from the MBA colleges in Mumbai, then it is necessary to fulfill the eligibility criteria. However, the conditions for the MBA program's eligibility in Mumbai may vary by college. The following is the list of some basic eligibility criteria that the aspirants must fulfill to take admission to MBA colleges in Mumbai.

  • The aspirants must be graduated from any recognized university with at least 45-50% marks in aggregate.
  • They must have the score of any national-level MBA entrance exam or state-level MBA entrance exam, such as the MBA CET Exam.
  • The final year graduation candidates can also register for MBA, but they have to show proof of graduation from their graduation college within the specified timeframe, declared by their desired MBA colleges in Mumbai.
  • If you want to join an executive program, you must show at least 2-3 years of full-time work experience.

Fees Structure of Private MBA Colleges in Mumbai

Note the below table to know the approximate fee structure to study MBA in the best MBA colleges in Mumbai.

Sl No:

Best MBA Colleges in Mumbai

Course Fees (Approximate)

1.

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

INR 2,26,600 (For one Year)

2.

S. P. Jain Institute of Management and Research, Mumbai

INR 22,10,000

3.

JBIMS, Mumbai- Jamnalal Bajaj Institute of Management Studies

INR 5,00,000

3.

SVKM`s Narsee Monjee Institute of Management Studies

INR 10,42,000

4.

NITIE- National Institute of Industrial Engineering, Mumbai

INR 13,43,000

5.

K. J. Somaiya Institute of Management

INR 18,78,876

6.

Principal L N Welingkar Institute of Management Development and Research

INR 6,84,000 (For one year)

7.

TIMSR-Thakur Institute Of Management Studies And Research, Mumbai

INR 4,25,000 (For one year)

8.

TISS Mumbai

INR 1,00,100

9.

Alkesh Dinesh Mody Institute For Financial And Management Studies, Mumbai

INR 2,00,000

10.

IBS-ICFAI Business School, Mumbai

INR 16,00,000

11.

Amity University, Mumbai

INR 5,00,000 (For one year)

12.

IISM Mumbai

INR 7,31,360

Top Recruiters of MBA Colleges in Mumbai

After completing an MBA degree from any college in Mumbai, you can get job opportunities to top MNCs in Mumbai and across the world. Here is a list of top recruiters for MBA Colleges in Mumbai.

  • Dentsu Aegis
  • Future Group
  • Google
  • JWT
  • Leo Burnett
  • Lowe Lintas
  • Ogilvy
  • HP
  • Goldman Sachs
  • Britannia
  • Johnson & Johnson
  • Capgemini
  • Nestle
  • Deutsche Bank
  • RBL Bank
  • Proctor & Gamble
  • Wipro

Note the table below to get a list of college-wise recruiters list of the Best MBA Colleges in Mumbai.

Best MBA Colleges in Mumbai

Top Recruiters

National Institute of Industrial Engineering - Mumbai

Dabur, TATA Motors, Castrol, HCCB, Maruti Suzuki, ICICI Bank, Delloite, Accenture, TVS, Asian Paints, ITC, Cognizant Business Consulting, KPMG, Aditya Birla Capital, Genpact, General Electric, Marico, Nestle, Capgemini, Google, IBM, etc.

Northpoint Centre of Learning

Future Group, Ogilvy, Pepsico, JWT, Google, IBM, Deloitte, etc

IIT Bombay

HP, Goldman Sachs, Google, Infosys, RBL Bank, Nestle. etc.

Sydenham Institute of Management Studies Research and Entrepreneurship Education, Mumbai

Aditya Birla Group, Deloitte USI, Axis Bank, Barclays Investment Bank, Citi Group, ICICI Group, Infosys, JP Morgan Chase & Co, Nielsen, Saint Gobain, Duff & Phelps, Ernst & Young, HDFC Ltd, etc.

ASM's Institute of Management & Computer Studies - Thane

Giant Krafters, Hexaware Technologies, Accenture, ICL, Google, HP, HDFC, ICICI Prudential, Jaro Education, L&T Infotech, Mainstay, Tech Mahindra, Siemens, Cognizant, etc.

MBA Specializations Offered by MBA Colleges in Mumbai

Note the below table to get an idea about the top MBA specialization offered by MBA colleges in Mumbai.

  • MBA in Sales and Marketing
  • MBA in Finance
  • MBA in Human Resource Management
  • MBA in Business Operations
  • MBA in International Business
  • MBA in Information Technology and Information Systems
  • MBA in Logistics and Supply Chain
  • MBA in Business Analytics
  • MBA in Leadership and Entrepreneurship
  • MBA in Healthcare and Hospitality

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Best MBA Colleges in Mumbai Selection Process

The admission process of every college is different based on the college norms and regulations that they set. The admission process is based on the merit list or the scores received on the entrance examination for which the candidate appears. The candidate needs to follow the guidelines of the college to get admission to the course.

MBA Colleges in Mumbai Accepting MAH-CET Score

The colleges in Mumbai accepting MAH-CET scores to study MBA are listed below:

  • BSE Institute Limited, Mumbai
  • St. Francis Institute Of Management And Research, Mumbai
  • National Academy Of Event Management & Development, Mumbai
  • IISM Mumbai
  • Jagdish Sheth School Of Management, Mumbai
  • Chetana's Institute Of Management And Research, Mumbai
  • Atharva Institute Of Management Studies
  • IES's Management College And Research Centre
  • NL Dalmia Institute Mumbai
  • SIESSBS-SIES College of Management Studies, Mumbai
  • TGBS- Thakur Global Business School, Mumbai
  • Alkesh Dinesh Mody Institute For Financial And Management Studies, Mumbai
  • JBIMS, Jamnalal Bajaj Institute of Management Studies, Mumbai

ROI of Top MBA Colleges in Mumbai

The phrase "Return on Investment" refers to how much money you get back from a college for the money you spend on schooling. The placement package is the key factor in this case. To comprehend the return on investment of the top MBA colleges in Mumbai, take a look at the table provided.

Best MBA Colleges in Mumbai

Fees Structure

Placement Packages

NMIMS, Mumbai

30 LPA

20 LPA

TISS Mumbai

30.33 LPA

25 LPA

SIMSREE Mumbai

20 LPA

13.25 LPA

SIMSR Mumbai

28.5 LPA

10.97 LPA

Benefits of Studying in MBA Colleges in Mumbai

The candidates who will select MBA Colleges in Mumbai to study MBA will get the benefits below, which are really important to become established in the business and marketing world.

  • MBA Colleges in Mumbai provide courses in such a way that makes the students to become aware of the global business market. It opens up new job opportunities for them in different business profiles.
  • You can complete your MBA degree within a very affordable fee with a high ROI opportunity, as the recruiters of MBA Colleges in Mumbai offer high packages to all the candidates.
  • MBA Colleges in Mumbai help the candidates improve their professional skills, like leadership, teamwork, and communication. All these are equally important to become a successful manager in top companies.

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FAQs on MBA Colleges in Mumbai

  • As per NIRF ranking 2021, SJMSOM IIT Bombay is the best MBA colleges in Mumbai.

  • No. If have studied hard for MBA entrance exams and score the cutoff marks as per your desired MBA colleges in Mumbai for admission, you will be able to get admission to colleges. 

  • The top 10 MBA colleges in Mumbai are listed below: 

    1. IIT Bombay
    2. S P Jain, Mumbai
    3. JBIMS, Mumba
    4. Narsee Monjee Institute of Management Studies
    5. NITI, Mumbai
    6. K J SIMSR
    7. TIMSR, Mumbai
    8. Welingkar Mumbai
    9. TISS Mumbai
    10. Alkesh Dinesh Mody Institute


  • Anyone with a three-year bachelor's degree or equivalent with 50% marks (45% for SC/ST/PWD) or equivalent qualification is acceptable for admission in MBA colleges in Mumbai. Additionally, they have to show the score of any of the MBA entrance exams. 

  • You can start your career as a trainee or in a managerial post at several companies. Students can potentially pursue other research studies after completing an MBA degree from MBA colleges in Mumbai. 

  • The MBA colleges in Mumbai accepting CAT and XAT scores are listed below:

    • SJMSOM IIT Bombay - Shailesh J. Mehta School of Management, Mumbai
    • S. P. Jain Institute of Management and Research, Mumbai
    • JBIMS, Mumbai- Jamnalal Bajaj Institute of Management Studies
    • NITIE- National Institute of Industrial Engineering, Mumbai
    • K. J. Somaiya Institute of Management
    • Principal L N Welingkar Institute of Management Development and Research


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