Best MBA Colleges in Mumbai: Top Ranking, Fee, & Admission

In this article

1.Top 10 Certified and Approved Colleges for MBA in Mumbai, Maharashtra
2.Best MBA Colleges with Latest NIRF Ranking Mumbai
3.MBA Colleges in Mumbai Accepting Admission Without CAT

Mumbai, the capital of Maharashtra and the financial capital of India, is not only popular for Bollywood, business empires, and financial institutions, but has also emerged as a prominent education hub for engineering, medical science, and management studies. In particular, the city is home to some of the country’s best universities and institutions for management studies, including globally renowned institutions such as the Indian Institute of Management Mumbai, Jamnalal Bajaj Institute of Management Studies (JBIMS), NMIMS School of Business Management (SBM), K J Somaiya Institute of Management (SIMSR), and S. P. Jain Institute of Management and Research (SPJIMR).

While Mumbai has over 200 MBA/PGDM colleges, the top institutions are ranked based on factors such as fees, placements, and the overall quality of education. To help you narrow down the long list of institutions, we have compiled a list of the top 10 MBA/PGDM colleges in Mumbai. The list also includes colleges that accept admissions without a CAT score. So, let’s get started.

Top 10 Certified and Approved Colleges for MBA in Mumbai, Maharashtra

Shortlisting colleges based on certification, approval, and accreditation is essential to ensure the best career opportunities after completing the course. Thankfully, most institutions in Mumbai recognize the importance of certification, approval, and accreditation in providing students with the best learning experience. The following colleges have top accreditations, such as NAAC/NBA, and approvals from bodies such as AICTE, UGC, and DTE.

MBA/PGDM College	Approval / Recognition	Accreditation
S. P. Jain Institute of Management and Research (SPJIMR)	AICTE-approved PGDM programmes	NBA accreditation for its two-year full-time PGDM programme
Indian Institute of Management Mumbai (IIM Mumbai)	Established as an IIM under the Government of India	Check the institute's official website for programme-specific accreditation details
Jamnalal Bajaj Institute of Management Studies (JBIMS)	Affiliated with the University of Mumbai	Verify current programme-specific accreditation status
NMIMS School of Business Management (SBM)	UGC-recognised deemed-to-be university; applicable MBA programmes have AICTE approval	NAAC A++ at the university level; AACSB accreditation for SBM
K J Somaiya Institute of Management	Part of Somaiya Vidyavihar University, recognised by UGC	AACSB accreditation; NBA accreditation has also been listed for its management programmes
Prin. L. N. Welingkar Institute of Management Development and Research (WeSchool)	AICTE-approved; affiliated with the University of Mumbai	NBA accreditation for the MMS programme; ACBSP accreditation
SIES College of Management Studies, Navi Mumbai	UGC 2(f) status and relevant institutional recognition	ACBSP accreditation for its flagship full-time management programme; check current NAAC/NBA status
Shailesh J. Mehta School of Management, IIT Bombay (SJMSOM)	Part of IIT Bombay, AICTE, UGC Recognition	AICTE
MET Institute of Management, Mumbai	Verify current AICTE approval and university affiliation for the selected programme	Verify current NAAC/NBA or other accreditation status
N. L. Dalmia Institute of Management Studies and Research	Verify current AICTE approval and programme recognition	Verify current accreditation status

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Best MBA Colleges with Latest NIRF Ranking Mumbai

NIRF ranking is widely considered a key factor when selecting an MBA/PGDM institution. If a college is approved but has a poor ranking, you risk spending two years and several lakhs on tuition fees and other expenses without getting the desired returns. On the other hand, a well-ranked college often offers quality education, better career opportunities, lucrative salaries, and attractive career growth. Some of the top-ranked MBA colleges in Mumbai include S. P. Jain Institute of Management and Research (SPJIMR), IIM Mumbai, and Jamnalal Bajaj Institute of Management Studies (JBIMS). Here is the complete rank-wise list.

MBA College / Institution	Latest NIRF Management Rank (2025)	NIRF Rank (2024)
Indian Institute of Management Mumbai (IIM Mumbai)	6	6
Indian Institute of Technology Bombay (IIT Bombay)	14	10
S. P. Jain Institute of Management and Research (SPJIMR)	20	20
SVKM's Narsee Monjee Institute of Management Studies (NMIMS)	24	21
K J Somaiya Institute of Management	65	--
Prin. L. N. Welingkar Institute of Management Development and Research (WeSchool)	75	84

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Top MBA Colleges With Best ROI – Fee and Salary Packages

Combining the right college choice with the best ROI can help you make a well-informed decision. Colleges with good ROI are often considered capable of helping students recover the cost of their postgraduate degrees through their future earnings. Moreover, analyzing college performance can help you assess future earning potential and career opportunities. Below is a list of MBA colleges in Mumbai with the best ROI, including their fees and average salary packages.

MBA College	Total Course Fees (Approx.)	Average Salary Package (Approx.)	ROI Potential
Jamnalal Bajaj Institute of Management Studies (JBIMS)	₹7 lakh	₹26.5 LPA	Excellent
Shailesh J. Mehta School of Management, IIT Bombay (SJMSOM)	₹15–20 lakh	₹28.16 LPA	Excellent
Indian Institute of Management Mumbai (IIM Mumbai)	₹21–25 lakh	₹33 LPA	Very High
S. P. Jain Institute of Management and Research (SPJIMR)	₹22–24 lakh	₹33.6 LPA	Very High
Tata Institute of Social Sciences (TISS), Mumbai	₹1–2 lakh*	₹22.5 LPA*	Excellent
NMIMS School of Business Management, Mumbai	₹24–27 lakh	₹24.6 LPA	High
K J Somaiya Institute of Management	₹18–20 lakh	₹13.05 LPA	Moderate
Prin. L. N. Welingkar Institute of Management (WeSchool)	₹13–15 lakh	₹11.4 LPA	Moderate
SIES School of Business Studies, Navi Mumbai	₹9–10 lakh	₹7.8 LPA	Moderate
Chetana's Institute of Management and Research, Mumbai	₹7–9 lakh	₹7 LPA	Moderate

Note: MBA colleges fee and salary packages are just for referenced purposes. Contact us for latest and updated information.

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MBA Colleges in Mumbai Accepting Admission Without CAT

While most colleges prioritize CAT scores for admission to their MBA programs, some also accept other national-level entrance exams to shortlist candidates. This means securing admission to a good college in Mumbai without a CAT score is possible through other MBA entrance exams, such as CMAT, SNAP, GMAT, MAH MBA CET, and XAT. However, the accepted entrance exams and their cut-off scores may vary from one college to another.

MBA College	Entrance Exams Accepted Other Than CAT
NMIMS School of Business Management, Mumbai	NMAT
Jamnalal Bajaj Institute of Management Studies (JBIMS)	MAH MBA CET, CMAT (subject to applicable admission rules)
K J Somaiya Institute of Management	XAT, NMAT, CMAT, GMAT
S. P. Jain Institute of Management and Research (SPJIMR)	XAT, GMAT
Prin. L. N. Welingkar Institute of Management (WeSchool)	XAT, ATMA, CMAT, GMAT, MAH MBA CET
Chetana's Institute of Management and Research	MAH MBA CET, CMAT, MAT, XAT, ATMA
SIES College of Management Studies, Navi Mumbai	MAH MBA CET, CMAT, MAT, XAT, ATMA
Lala Lajpatrai Institute of Management (LLIM)	MAH MBA CET, CMAT, ATMA, MAT
Chandragupt Institute of Management Research (CIMR), Mumbai	MAH MBA CET, MAT, XAT, ATMA, CMAT
Thakur Institute of Management Studies and Research (TIMSR)	MAH MBA CET, CMAT, ATMA, MAT, XAT

Eligibility Criteria for Admission in MBA Programs in Mumbai

The admission processes at most MBA colleges in Mumbai are designed to accommodate students with good academic records. While most institutions accept CAT scores, other national-level entrance exam scores are also accepted. Since MBA/PGDM programs are postgraduate courses, a three-year bachelor’s degree is generally the minimum educational requirement for admission to management institutions. The following table provides a clear overview of the minimum eligibility criteria for admission to Tier 1 and Tier 2 MBA institutions.

Eligibility Criteria	Details
Educational Qualification	A bachelor's degree of at least three years' duration from a recognized university in any discipline.
Minimum Graduation Marks	Generally, 50% aggregate marks for General category candidates. Some Maharashtra institutions provide a 45% relaxation for eligible reserved-category candidates.
Final-Year Students	Students appearing for their final-year bachelor's degree examinations can apply to many colleges, subject to the institution's conditions.
Entrance Exam	A valid score in an accepted entrance exam, such as CAT, MAH MBA CET, CMAT, XAT, NMAT, MAT, ATMA, or GMAT, depending on the college and programme.
Nationality	Indian and international applicants may be eligible, subject to the institution's admission rules and applicable quota requirements.
Age Limit	Most regular MBA programmes do not prescribe a general upper age limit, but applicants should check the specific admission rules.
Work Experience	Generally not mandatory for regular two-year MBA programmes. Executive MBA programmes may require relevant work experience.
Selection Process	May include entrance exam scores, group discussions, personal interviews, written assessments, academic records, and other selection criteria.
Required Documents	Graduation marksheets, degree certificate or provisional certificate, entrance exam scorecard, identity proof, photographs, and applicable category certificates.
Reservation Benefits	Eligible candidates may receive relaxation in minimum marks or other benefits according to Maharashtra government rules and the institution's admission policy.

Keep reading

Best MBA Colleges in Mumbai: Top Ranking, Fee, & Admission

Top 10 Certified and Approved Colleges for MBA in Mumbai, Maharashtra

Best MBA Colleges with Latest NIRF Ranking Mumbai

MBA Colleges in Mumbai Accepting Admission Without CAT

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