Top 10 MBA Colleges in Mumbai 2024- Admission, Fees, Exams

Top 10 MBA Colleges in Mumbai 2024- Admission, Fees, Exams

In addition to being the financial hub of India, Mumbai is also the location of several prestigious universities and schools offering top-notch management education. In addition to traditional MBA programs, students in Mumbai’s business schools can enroll in more recent, cutting-edge courses including Master of Management Studies (MMS), Post Graduate Diploma in Management (PGDM), and Post Graduate Program in Management (PGPM). You can view all of the information about Mumbai’s top ten MBA programs.

Mumbai may be the best place for you to pursue an MBA if you’re looking at prestigious universities. There are many private and public universities in Mumbai that provide full-time management programs including PGDM, MMS, and PGPM in addition to MBA programs.

Numerous prestigious private universities and business schools in the area offer excellent ROI and value for money, along with great placement rates. Moreover, To help you create your own professional niches, the colleges and institutes in Mumbai that offer MBA programs provide a distinctive range of specializations as well as dual specializations (with a main and minor specialization).

Both private and government MBA institutions in Mumbai offer the degree at reasonably affordable fee ranges, with further financial help and educational loan plans. Based on the NIRF national management category rankings and a variety of other criteria, including cost range, placement history, faculty, student support, and academic rigor, we have compiled a list of the best MBA programs.

General Eligibility and Accepted Entrance Exams for Admissions in Mumbai MBA Colleges

Given the variety of management exams one can attempt to pass in order to get admission to a B-school, one must carefully review the prerequisites supplied by the specific institution in order to be considered for admission to the MBA program.

Generally speaking, there are two factors to take into account while applying for an MBA or postgraduate management degree:

The general eligibility guidelines about minimum education level

The screening procedure of the particular university/college

Due to the high volume of applicants to MBA programs nationwide, the best business schools employ a rigorous admissions process to identify applicants who possess managerial ability and aptitude.

Firstly, the minimum criteria to meet for admission to an MBA/PGDM/MMS course is:

  • Having completed Bachelors Education from a Recognised University/Institution
  • Students can have an educational background in Any Stream
  • Most MBA Universities and Colleges of Mumbai Demand at Least 50% Aggregate Marks in Graduation

Applicants who do not possess a bachelor’s degree are ineligible to enroll in MBA or PGDM courses because they are postgraduate degree programs.

Secondly, To choose students for the few available seats in the MBA program, the majority of colleges use extra screening processes. For this, there are often two stages to the screening process:

Performance/score in a valid Management Entrance Exam

  • Performance in the Personal Interview and Screening

Soan applicant must fulfill all minimum eligibility requirements, pass the entrance exam, and pass the personal interview stage in order to be admitted to a top management institution’s MBA program.

Some of the top accepted Management Entrance Examinations for admission to MBA colleges of Mumbai contain:

  • Common Aptitude Test (CAT)
  • Management Aptitude Test (MAT)
  • NMIMS Management Aptitude Test (NMAT)
  • Xavier Aptitude Test (XAT)
  • Graduate Management Admission Test (GMAT)
  • Common Management Admission Test (CMAT)
  • ICFAI Business Studies Aptitude Test (IBSAT) etc.

In addition to these entrance exams, a lot of universities have Common Entrance Tests (CET) that are unique to their particular campuses. These are the entrance exams that leading Mumbai B-schools accept as credit toward admission to their MBA, PGDM, and MMS programs.

Best Private & Public MBA Colleges of Mumbai

Mumbai has a multitude of MBA programs and business schools to select from, with six management colleges listed by NIRF as among India’s top 100 management universities as of 2023. One can pursue an MBA degree quite cheaply at prestigious government colleges like NITIE, Mumbai; DSIMS; JBIMS, Mumbai (part of the University of Mumbai); and Shailesh J. Mehta School of Management (part of IIT Bombay). Similarly, there are a line-up of top-notch private MBA institutions with astronomical alumni records and appealing RoI to choose from.

These are the best MBA schools in Mumbai, chosen based on NIRF rankings, faculty, student assistance, placement services, and academic rigor.

Rank #1 – Durgadevi Saraf Institute of Management Studies

At DSIMS our focus is on nurturing employable managers. To do this, we have taken the University curriculum and imparted it the DSIMS touch to make it contemporary and relevant. Durgadevi Saraf Institute of Management Studies (DSIMS) stands as a distinguished institution in Mumbai, committed to providing quality business education. Affiliated with the University of Mumbai, DSIMS has earned a reputation for its academic excellence, industry-relevant curriculum, and holistic development approach.

Degree Offered: Master of Management Studies

Course Duration: 2 Years

Accreditations: Approved by AICTE, recognized by DTE, Govt. of Maharashtra and affiliated to University of Mumbai)

Full Course Fees: INR 2,35,225

Accepted Entrance Examinations: CAT

Rank #2 – National Institute of Industrial Engineering (NITIE), Mumbai

In 1963, the International Labour Organization (ILO), the United Nations Development Program (UNDP), and the Government of India collaborated to create the National Institute of Industrial Engineering (NITIE), Mumbai. It is one of the top management education institutions in the country and has been named one of India’s best B-schools for several years. According to the NIRF, it is one among India’s top 7 management college as of 2023.

Degree Offered: Post Graduate Diploma in Management (PGDM)

Accreditations: NIRF Rank 7 in Management Category, THE Impact Ranking 2021 (Rank 3)

Course Duration: 2 Years

Full Course Fees: INR 13,00,000-INR 14,70,000

Rank #3 – Shailesh J. Mehta School of Management – Indian Institute of Technology, Bombay

Shailesh J. Mehta School of Management is a part of the Indian Institute of Technology, Bombay and is a part of Indias top 10 management institutions as ranked by NIRF (2023). The institute was originally founded in 1995 as the IIT Bombay Management School and then changed its name to the Shailesh J. Mehta School of Management. This renowned institution offers a combination of technology expertise and management education, making it one of India’s most reasonably priced B-schools. Degree Offered: Master of Business Administration (MBA)

Accreditations: NIRF Rank 10 in Management Category, QS World University Ranking (Business and Management Category) Rank 5

Course Duration: 2 Years

Accepted Entrance Examinations: CAT

Full Course Fees: INR 1,63,100 for Students Belonging to Reserved Categories

INR 3,63,100 for Domestic Students

INR 6,90,950 for International Students

Rank #4 – S. P. Jain Institute of Management & Research (SPJIMR), Mumbai

As one of India’s top B-schools, SPJIMR was established in Mumbai in 1981 and has since gained a reputation for providing students with both an excellent management education and the chance for holistic development, which will help them pursue successful careers in management. It was named one of India’s top 20 management institutes by the NIRF (2023), and it has also been recognized by the NBA, AACSB, AMBA, and other prestigious associations.

Degree Offered: Post Graduate Diploma in Management (PGDM)

Accreditations: NIRF Rank 20 in Management Category (2023), AACSB, AMBA, NBA

Course Duration: 2 Years

Accepted Entrance Examinations: CAT, CMAT

Full Course Fees: INR 20,42,000 for Indian students

INR 29,05,000 for International Students

Rank #5 – SVKM’s Narsee Monjee Institute of Management Studies (NMIMS, Mumbai)

In the management community, SVKM’s Narsee Monjee Institute of Management Studies (NMIMS) is well-known for offering students a top-notch, all-encompassing management education. The institute has received numerous awards, including recognition from organizations like AACSB and NBA, as well as top approvals from NAAC (with an A++ rating) and NIRF (ranked as India’s 21st top management institution).

The university offers a full-time postgraduate program in management called the Master of Business Administration (MBA), and it chooses applicants for this program based on a combination of screening processes, in-person interviews, and its own entrance exam, the NMIMS Management Aptitude Test (NMAT). The university also has partnerships with numerous MNCs, corporate businesses, and other organizations, which enables its MBA graduates to investigate a wide range of career options as soon as they graduate.

Degree Offered: Master of Business Administration (MBA)

Accreditations: NAAC A++, NIRF Rank 21 in Management Category. AACSB, NBA

Course Duration: 2 Years

Full Course Fees: INR 20,00,000-INR 24,00,000

#6 – K.J. Somaiya Institute of Management

In 1959, Shri K. J. Somaiya founded the K.J. Somaiya Institute of Management, which is now a component of the Somaiya Vidyavihar. Since then, the institute has committed itself to offering prospective students a thorough education in management. AIU membership, NBA recognition, AICTE approval, AACSB recognition, and other accreditations and recognitions are only a few of them. As per the NIRF’s 2023 ranking, it is also included among the top 50 management institutions in India.

Students at SIMR have the opportunity to pursue a two-year full-time MBA degree with the option of selecting two specializations (one major and one minor). Any significant management entrance test score, including those from the CAT, XAT, CMAT, GMAT, or NMAT, is accepted for consideration in the course. The wide range of specializations accessible and the excellent pedagogical support for learning through lectures, simulation games, on-field projects, etc. are the main advantages of enrolling in this course at Welingkar WeSchool.

Degree Offered: Master of Business Administration (MBA)

Accreditations: NIRF Rank 45in Management Category (2023), AACSB, AICTE, AIU, NBA

Accepted Entrance Examinations: CAT/XAT/CMAT/NMAT/GMAT

Full Course Fees: INR 19,94,000

Course Duration: 2 Years

#7 – Indian Institute of Technology Bombay, Mumbai

About IIT Bombay: Founded in 1958, the Indian Institute of Technology Bombay, also referred to as IIT Bombay or IIT Mumbai, is the first public college to be funded by UNESCO. It was named a “Institute of National Importance” by the Indian Parliament in 1961.
It has been designated as a “Deemed University” and is self-governing. IIT Bombay is ranked third in the engineering category by NIRF 2023, second in the engineering category by India Today 2023, and second in the engineering (government) category by India Today 2023.

IIT Bombay offers dual degree and degree programs at the undergraduate, graduate, and doctorate levels. Organized into 16 departments, the institute offers over 80 courses in the fields of engineering, technology, science, and management. Exams conducted around the country by various organizations, such as GATE and JEE Advanced, are used to choose the candidates.

IIT Bombay Highlights

IIT Bombay Highlights are given in the table below:

CollegeIIT Bombay( Indian Institute Of Technology, Mumbai)
Recognized byUGC, AICTE
CoursesB.Tech / M.Tech, MBA/PGDM/, Ph.D.
Exams AcceptedJEE Mains/Advanced, GATE
Admission CriteriaEntrance-Based/Merit Based
Application ModeOnline admissions
Official Website

#8 – SP Jain (SPJIMR), Mumbai

Founded in 1981, the famous SP Jain Institute of Management and Research is a center for management studies. PGDM at SPJIMR is a well renowned curriculum. The institute is accredited by AACSB. The CAT is the basis for admission to the SP Jain PGDM, after which there are two rounds of interviews.

The total SP Jain CAT cut-off is 85 percentile. The two-year SP Jain PGDM fees are INR 20.42 lakh, whereas the average package for the 2023 batch was recorded at INR 33.02 LPA. SP Jain is a private business school that has been ranked 20 by NIRF 2023, 151-200 by QS World University Ranking 2022, and one of the top two business schools in India by the Financial Times Global rankings.

SPJIMR Highlights

SP Jain (SPJIMR) Highlights are mentioned in the table below:


Establishment year1981
Campus Size45 acres
Top accreditationsAssociation of MBAs (AMBA), UK, NBA, and AACSB International
Recognised byAICTE
Flagship coursesPGPM, PGDM
Students Intake240 for PGDM
MBA FeesINR 20,42,000
NIRF Ranking 202320
Numbers of courses16
Total Faculty78
ScholarshipMerit-Cum Means-based financial assistance available and the scholarship available for students selected in the Exchange Program
Highest Package 2023INR 77.88 LPA (International) INR 67.50 LPA (Domestic)
Top RecruitersAmazon India, Axis, ITC, Deloitte, HUL, Flipkart, Goldman Sachs, BCG, KPMG, Nestle, etc.

#9 – KJ Somaiya Institute of Management, Mumbai

Admissions for the KJ Somaiya MBA Executive program are now being accepted. The first day of the course is September 02, 2023. November 26, 2023 is the date of the CAT 2023 exam, and registration opened on August 2, 2023. August 1, 2023 is when NMAT registrations opened, and October 10, 2023 is when applications must be submitted. The NMAT 2023 exam window is scheduled to run from October 10 to December 19, 2023. Interested applicants should apply through the official website.

Established in 1981, KJ Somaiya Institute of Management is a private school. It is affiliated to Somaiya Vidyavihar Mumbai University. The institute offers 600 places in its flagship MBA program. The KJ Somaiya Institute of Management bases its MBA admissions on entrance tests such as the CAT, XAT, CMAT, GMAT, and NMAT. Entrance exams are followed by case study and personal interviews.

 KJ Somaiya Institute of Management Highlights

Establishment Year1981
Approved ByUGC
Affiliated toSomaiya Vidyavihar University
Admission CriteriaEntrance Exam based
Accepted Entrance ExamsCAT,  XAT,   CMAT,  GMAT,  NMAT
Courses OfferedMBA, MBA Executive, MCA, PhD
FacilitiesHostel, library, sports

#10 – Institute of Business Studies and Research (IBSAR), Mumbai

In 2004, the Institute of Business Studies and Research (IBSAR) was founded. The college is associated with the University of Mumbai and holds an ISO certification.

Undergraduate and graduate courses in management are available at the Institute of Business Studies and Research (IBSAR), including BCA,, BBA, MBA, Executive MBA, MA,, and PhD programs. Among the colleges of business management with international recognition is IBSAR.

Institute of Business Studies and Research (IBSAR) Highlights

Institute of Business Studies and Research (IBSAR)Highlights

Establishment year | Type2004 | Private
CertificationISO Certified
Affiliating universityUniversity of Mumbai
Courses OfferedUndergraduate – BBA, BCA,

Postgraduate – MA(Economics), MBA, Executive MBA,


Mode of ApplicationOnline
Application FeeINR 1000
Key USPRun by highly trained professionals at CCL USA, APO, Japan, Richard Lvey TISS and LSE UK

Reasonable and affordable fee for the students

International / National paid internships in US / Germany / Singapore / Gulf

Highest Salary12LPA
Official Website


#11 – Thadomal Shahani Centre for Management (TSCFM), Mumbai

Thadomal Shahani Centre for Management was established in the year 2011. Since then till now, As an integral component of the Shahani Group of Institutions, TSCFM has been. For half a century, the Shahani Group has been providing exceptional education. The goal of the Thadomal Shahani Centre for Management is to turn the best international management education available in India into a workforce of professionally trained students. Students can choose among management, diploma, and certificate programs offered by it. TSCFM has placed its students successfully in a number of famous companies, like Infosys, Amazon, Google, 5Paise, HDFC Securities, SBI Cap Securities, and others, thanks to its holistic approach.

Thadomal Shahani Centre for Management Highlights

Thadomal Shahani Centre for Management has following salient features –

Type of CollegePrivate
Establishment Year2011
Mode of ApplicationOnline
ApprovalsEduQual and Angila Ruskin University
Course OfferedPostgraduate, Diploma, and Certificate Programs
AwardsGlobal Peace Initiative Award, XL Extraordinary Lives Award, etc.
Key Highlights250+ hiring partners, 5 months program,4 certification
Official Website
Admission Helpline Number9930088330
Top RecruitersInfosys, JP Morgan Chase, Amazon, Google, Forbes, etc.

List of Top 10 Government MBA Colleges in Mumbai Fees

MBA Government Colleges in Mumbai

Fee Structure

Indian Institute of Management NagpurRs. 19 Lakhs
Shailesh J Mehta School of Management, IIT BombayRs. 14 Lakhs
Jamnalal Bajaj Institute of Management Studies, JBIMSRs. 6 Lakhs
Yashwantrao Chavan Maharashtra Open UniversityRs. 1.7 Lakhs
University of MumbaiRs. 17 K – 7.5 Lakhs
National Institute of Industrial Engineering, NITIERs. 12.6 Lakhs
Dr Babasaheb Ambedkar Technological UniversityRs. 30 K – 1.8 Lakhs
Alkesh Dinesh Mody Institute for Financial and Management StudiesRs. 17K – 1 Lakhs
Swami Ramanand Teerth Marathwada UniversityRs. 53 K – 2 Lakhs
Shivaji UniversityRs. 40 K – 2 Lakhs
Savitribai Phule Pune UniversityRs. 1.5 Lakhs