Are you the one who is considering pursuing an MBA in one of the most vibrant cities, India? If your answer is yes, then Mumbai, the financial capital of India could be your ideal destination. Mumbai is considered as home for some of the country’s top MBA colleges.
In this blog we will explore the list of top MBA Colleges in Mumbai ranked according to NIRF 2023, we will also discuss their courses, eligibility criteria, placement records, and so much more. Let’s get started!
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Here’s a list of Top 10 MBA Colleges in Mumbai
Indian Institute of Technology Bombay
NIRF 2023 Rank: 11 (Management Category)
Shailesh J. Mehta School of Management (SJMSOM) at IIT Bombay, which was founded in the year 1995. It is one of the oldest management institutes in India equipping students with strong management training together with technical acumen at IIT Bombay, this school has acquired a reputation for its thrust on entrepreneurship, leadership, and innovation.
The school also has exposures to cutting edge research facilities as well as industry collaborations that enhance the scope for its students to get involved with live projects, consulting assignments, and internship work with top companies. Its emphasis on technology-driven management makes it an ideal opportunity for those students to gain technical aptitude and a business acumen.
Programs offered:
Full-Time MBA: Two years are specialisations in finance, marketing, operations, or in consulting.
Executive MBA: 7+ years of work experience, for working professionals; in collaboration with Washington University in St. Louis Doctoral Program Ph.D. in Management.
Eligibility
- MBA: Bachelor’s degree in any discipline from any recognized University with min 60% in aggregate for general and 55% for reserved categories.
Admission is strictly done on the basis of scores received from CAT scores.
- Executive MBA: Minimum 7 years of work experience
Placement:
It provides good placement services to students, and the top recruiters from the institute are Amazon, Deloitte, McKinsey, and Tata Consultancy Services. During the year 2023, the average package that was provided was INR 27.5 LPA and the highest salary that was offered during the placement season was INR 50 LPA
Fees:
MBA: The entire program costs INR 10 Lakhs.
SP Jain Institute of Management and Research (SPJIMR)
NIRF 2023 Rank: 20
It was established in the year 1981, SP Jain Institute of Management and Research is one of the best MBA Colleges in Mumbai. The pedagogical approach adopted by this school is quite unique – academic rigour coupled with real-world experiences.
The global immersion programs ensure that students work with international peers and companies. The curriculum majorly focuses on ethics, leadership, and social responsibility, making it one of the few institutes that focus on developing a business leader holistic approach. The value-based learning framework and strong alumni make it stand out among the best MBA Colleges in Mumbai.
Courses
Post Graduate Diploma in Management (PGDM): It is its flagship 2 years long almost equivalent to an MBA, specialisations include Finance, Marketing, Information Management, Operations, and Supply Chain.
- GMP: It offers cross cultural exposure and twin degrees.
- EMP: Every working professional who graduated more than five years ago.
Eligibility
- PGDM: Full-time degree in any discipline with more than 50% marks. Test scores based on CAT / XAT / GMAT shall be followed.
- EMP: Five years of full-time working experience
Placement:
SPJIMR has very good placement records, with students getting approached directly by companies like Google, Amazon, McKinsey, and Accenture. Average salary offered for the batch 2023 was INR 33 LPA, and highest INR 51 LPA.
Fees:
PGDM-Whole Course fee is Inclusive INR 20 Lakhs
Narsee Monjee Institute of Management Studies (NMIMS)
NIRF 2023: 25
NMIMS was established in 1981. It is now the alma mater of a large family with the Narsee Monjee Institute of Management Studies the name under which the deemed-to-be university functions. Having the excellence in management education is its prime objective, the School of Business Management (SBM) has remained a flagship institution offering a wide range of specialised MBA programs that cater the needs of the business world.
The NMIMS distinguishes itself by having a strong interface with industry, state-of-the-art infrastructure, and placing more emphasis on experiential learning by case studies, projects, and internships. It also has a focus on digital transformation and innovation, hence equipping the students to handle the modern business environment.
Courses:
- MBA full time course: Two years of specialisation in Finance, Marketing, Operations, HR, and Analytics. MBA Pharmaceutical management, but only pharmaceutical-specific industry programs.
- Executive MBA: Middle level professionals with at least five years of work experience.
Eligibility
- MBA: Graduate with at least 50% aggregate marks and valid NMAT by GMAC score.
- Executive MBA: A minimum of five years full-time work experience.
Placement :
NMIMS has excellent placement statistics. The famous recruiters for students from this college include Accenture, KPMG, HDFC Bank, and Infosys. Average at INR 23.07 LPA in 2023, and the highest was INR 57 LPA.
Fees:
MBA: Full programme- INR 22 Lakhs.
National Institute of Industrial Engineering (NITIE)
NIRF 2023 Rank: 9
NITIE was established in the year 1963 and is one of the prominent institutes located in the industrial hub of Powai, Mumbai. NITIE was set up as a premier centre of excellence in operations, supply chains, and industrial management.
Over the years, the institution has emerged as one among the foremost B-schools of India. Its programs focus on industrial efficiency, sustainability, and technology management. Learning accompanies one on the campus – an accretion of cutting-edge research and corporate connections. It has become one of the foremost MBA Colleges in Mumbai emphasising industrial efficiency and sustainability.
Programs:
- PGDIM or Post Graduate Diploma in Industrial Management: This is the two-year program, which will be as comparable as an MBA in Operations and Supply Chain Management.
- PGDSM: Domain of sustainable business practice.
Admission Eligibility:
- PGDIM:B E/ B Tech.Admitted on CAT score
- PGDSM:Engineering graduates with valid CAT score
Placement:
Excellent placement record, that includes top companies are Amazon, Flipkart, P&G, Tata Motors, etc. Even in 2023, the average was at INR 25.41 LPA with the highest package of INR 55 LPA
KJ Somaiya Institute of Management
NIRF 2023 Rank: 72
KJ Somaiya Institute of Management under Somaiya Vidyavihar University is one of the most prestigious MBA colleges in mumbai which was established in 1981. Beyond these, a thrust on the centre of learning by KJ Somaiya on diversities of student-centred learning, business ethics, and entrepreneurial skills supplemented with diversified courses and also high value corporate collaborations, add to the experiential learning diversified into many sectors; the green campus with holistic management education, making it one of the most after sought MBA Colleges in Mumbai.
Courses
- MBA (Full-time): It is a two years program in marketing, finance, human resources, operations, and data science.
- MBA in Healthcare Management: For the healthcare professional who wants excellence in the same field.
- Executive MBA: For working professionals.
Eligibility
- MBA: Graduation Pass with atleast 50% marks. Admission through CAT/XAT/CMAT/GMAT scores
Minimum work experience of three years
Placement:
A notable placement record by the KJ Somaiya by several top companies and organisations such as EY, HDFC Bank, and ICICI Bank. The average salary recorded is INR 12.5 LPA; the highest paid package was INR 27 LPA for the year 2023.
Fees:
MBA: 18 Lakhs for the entire programme.
Welingkar Institute of Management Development and Research
NIRF Rank 2023: 68
It was founded in the year 1977 and stands out among MBA Colleges in Mumbai particularly known for its innovative learning tactics which includes design thinking, innovation, and leadership. The programs are designed according to the needs of contemporary businesses. It has always spearheaded management education with specialised courses in business design, e-business, and rural management.
Programs
- PGDM (Post Graduate Diploma in Management): A full-time two-year business program in Business Design, E-Business, Rural Management, and Healthcare Management.
- PGDM Hybrid: Specially designed to be flexible for working professionals.
- PGDM Entrepreneurship: New venturing or entrepreneurship development.
Eligibility
- PGDM : 50% graduation with valid CAT / XAT / CMAT / GMAT scores
- PGDM Hybrid : Bachelor’s degree along with some experience in work.
Placement
The placement record of WeSchool is astounding. Students are placed in the best companies worldwide; for example, Deloitte, Capgemini, Infosys, Mahindra, etc. The average salary in 2023 was INR 10.5 LPA. The highest package this year was INR 19 LPA.
Fees
PGDM: Total program: INR 13 Lakhs.
SIES College of Management Studies (SIESCOMS)
NIRF 2023 Rank: 99
Established in the year 1995, SIES College of Management Studies, SIESCOMS is one of the management institutions headed under Navi Mumbai. It is quite well known for its industry-driven curriculum as well as a strong tie-up with corporates, thus providing students with practical skills that will help them to be all-around managers.
The institute believes in a learning environment where the students are allowed to get involved with live projects, internships, and industry visits. The institute has excellent alumni networks at significant industry positions, offering exciting placement opportunities for its students. SIESCOMS fosters a collaborative as well as an entrepreneurial culture; after all, SIES students are always engaged in innovation-driven projects and start-ups making it one of the top MBA Colleges in Mumbai
Courses:
- PGDM: A two year full time programme with specialisations provided in finance, marketing, operations and HR.
- Executive MBA: For middle management working executives
- MMS (Master in Management Studies): Associate of the University of Mumbai
Eligibility:
- PGDM: Alumni with marks scored above 50% marks are eligible for the course. Application through CAT/XAT/CMAT/GMAT scores.
- Executive MBA: Minimum three years of work experience.
Placement:
A good placement network exists at SIESCOMS. The companies that have recruited from the institute include ICICI Bank, L&T, and Capgemini. The average salary of 2023 was INR 8 LPA, while the highest salary was INR 15 LPA.
Fee Structure:
PGDM- Full Program will be INR 9 Lakhs.
Chetana’s Institute of Management and Research
NIRF 2023 Rank: NA
It is one of the oldest MBA Colleges in Mumbai and it mainly emphasises on academic rigour and industrial exposure. Chetana set out an excellent track record in the graduation phase with strong values that eventually developed into global ethical business leaders. The faculty of Chetana has rich experience within the industry, and the robust interface that the institute provides with the corporate life gives enough scope to the students to handle real-time business challenges primarily through internship and projects.
Courses
- PGDM: 2 Year Post Graduate Diploma Program with specialisation in Finance, Marketing, and Human Resource
- MMS (Master in Management Studies): The college is an affiliate to Mumbai University
- PGDM: Graduation score of at least 50% marks, and CAT/XAT/CMAT score
- MMS: Graduation in any discipline
Placement :
The placement record is also good in Chetana’s Institute. Then it has some of the best recruiting companies like ICICI Bank, Kotak Mahindra, and Capgemini. The average salary for 2023 was INR 7.5 LPA.
Fees:
PGDM: INR 7 Lakhs for the whole program.
ITM Business School
NIRF 2023 Rank: NA
ITM Business School was founded in 1991, that teaches management with a practical approach as well as through an industry-based curriculum. ITM offers some of the best specialisations in MBA across digital marketing, business analytics, to the very current industry trend perspective that the institute is able to give.
Entrepreneurial thinking and innovation form part of the school environment. Strong placement networks, high experience levels among faculty members and accreditation of international institutions make it the first choice of students who wish to develop management skills across all the borders of the world.
Courses
- PGDM: The program is for 2 years, with specialisations in Marketing, Finance, Digital Marketing, Business Analytics
- Executive MBA: A professional student having experience of two years or above gets to pursue a program.
Eligibility:
- PGDM: Graduation in any discipline with minimum 50% marks, and valid scores in CAT/XAT/CMAT/GMAT.
- Executive MBA: At least 2 years of work experience
Placement:
ITM has a decent placement record as the average salary is around INR 7.5 LPA, and recruiters like Deloitte, HDFC Bank, and Infosys.
Fees:
PGDM: The course fees are INR 10 Lakhs.
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Tata Institute of Social Sciences (TISS)
NIRF 2023 Rank: 14
Tata Institute of Social Sciences is one of the oldest MBA Colleges in Mumbai established in 1936. It is a premier institute focusing on social sciences and management. The TISS MA in Human Resource Management & Labour Relations is considered to be at par with similar courses offered as an MBA in HR in the topmost B-schools in the country.
The main emphasis is on rigorous academic programs that balance management with social responsibility and human development. Fieldwork and internships-the Institute of TISS has emerged as an institute that attracts corporate and NGOs to recruit the graduates from TISS in large numbers for HR roles. It has certainly carved a niche in the MBA Colleges in Mumbai segment.
Courses
MA in Human Resource Management & Labour Relations (HRM & LR): A two-year postgraduate course wherein it becomes more curriculum-oriented towards HR and labour relations.
MA in Social Work (Management-related specialisations)
Eligibility:
- MA HRM & LR: Any undergraduate degree with aggregate of 50% marks (45% in case of applicant belonging to the reserved category). Admission through TISSNET.
Placement:
TISS has always been giving good placements in HR. For instance, it has got recruits like TCS, Deloitte and Reliance for recruiting the students. Average salary in the year 2023 was around 20 LPA and the highest package was 32 LPA.
Fees:
MA HRM & LR: INR 3 Lakhs throughout the programme.
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Conclusion
From the above list of MBA aspirants in 2024, Mumbai will always be on top because it has a mix of institutions that take care of different needs and career aspirations of the aspirant. Ranked on various parameters of NIRF, one could easily see that quality of education, industrial exposure and placement opportunities all are considered together in Top 10 MBA Colleges in Mumbai 2024. Whether it is finance or marketing or operations or HR, the specialisations at these colleges will always push you forward in your career.
By making any one choice from these top MBA colleges in Mumbai, you would be well aware that you are not just spending your hard-earned money to achieve an MBA degree but also towards a bright future full of growth, learning, and development in your career.
You must remember that the right choice of the institution basically depends upon specialisation, eligibility criteria, and financial constraints. Explore every tiny detail of the top MBA Colleges in Mumbai to find the perfect fit for your aspirations.
