Top 10 MBA Colleges in Mumbai: Navigating Excellence



11 August, 2023

Top 10 MBA Colleges in Mumbai: Navigating Excellence

Being the educational hub and financial centre of India, Mumbai houses several elite MBA colleges which provide full-time, part-time, online, and distance learning modes. These colleges provide MBA and PGDM programmes in various specialisations which assist students in developing key skills required for an outstanding professional career.

Furthermore, choosing the best institution is as important as doing MBA itself. As it will be associated with you like a brand for a lifetime, it will allow you to compete with like-minded people, it will provide you with an opportunity to learn from top professors of the country, and lastly, the top institutions attract the best placements which can prove to be an advantage.

List of top 10 colleges in Mumbai which provide MBA courses.

1. IIT BOMBAY: Shailesh J Mehta School of Management, Mumbai

Shailesh J Mehta School of Management, established in 1995, is a part of IIT Bombay, intending to transform students and professionals from technical backgrounds. It offers a two-year management programme in MBA as well as a doctoral management programme. It also offers Executive programmes such as Management Development Programme and Joint EMBA.

  • Course Fee: ₹3,63,000 Per Semester
  • Average Package: ₹29,00,000
  • Entrance exam required: CAT

2. SP Jain Institute of Management and Research

SP Jain is one of the leading management schools in India. It was established in 1981 and is situated in the heart of Mumbai. It has been accredited by AACSB. It is one of the top-ranked private B schools which is also famous for its flagship PGDM courses. There are 5 full-time residential programmes. In addition, it also offers certain short-duration courses.

  • Course Fee: ₹20,42,000
  • Average Package: ₹30,00,000
  • Entrance exam required: CAT, GMAT

3. NITIE Mumbai: National Institute of Industrial Training

NITIE Mumbai is a postgraduate, government management Institute, established in 1963. Its flagship programmes are PGDIE (postgraduate diploma in industrial engineering) and PGDIM (postgraduate diploma in industrial management), equivalent to MTech and MBA.

  • Course Fee: ₹14,63,000 (PGDIM)
  • Average Package: ₹25,69,000
  • Entrance exams required: CAT, GATE, GMAT, GRE.

4. NMIMS Mumbai: Narsee Monjee Institute of Management Studies

NMIMS is a private university established in 1981. It is one of the leading private B schools and provides six full-time, two part-time, one specialised and PHD courses to students across management and other streams. It has been recognised by UGC, AICTE, and accredited by AACSB.

  • Course Fee: ₹23,90,000
  • Average Package: ₹26,63,000
  • Entrance exam required: NMAT, NPAT

5. IIM Nagpur: Indian Institute of Management

IIM Nagpur is a new-generation IIM established in 2015 under the mentorship of IIM Ahmedabad with its campus in Nagpur and Pune. Two flagship programmes of IIM Nagpur are its MBA and EX MBA.

  • Course Fee: ₹18,90,000
  • Average Package: ₹16,00,000
  • Entrance exam required: CAT, GMAT

6. JBIMS: Jamnalal Bajaj Institute of Management Studies

JBIMS was established in 1965 with the sole motto of setting new standards in business management. The college offers a full-time master’s in management studies, other part-time courses, and a doctoral PhD program. The institute has named its management courses as MMS and not MBA to highlight the fact that management studies are required in all organisations and not just business organisations.

  • Course Fee: ₹7,00,000
  • Average Package: ₹28,02,000
  • Entrance exams required: CAT, GMAT, CMAT, MAT, XAT

7. K.J. Somaiya Institute of Management

KJSIM is an independent Business school established in 1981. It provides a range of courses like MBA, Executive MBA, MCA and a PhD program in management at the doctoral level. It was ranked 45th by NIRF, in 2023 and some of its notable alumni include Ajay Kapur(CEO of Adani Cements), and Praveen Jaipuriar(CEO of Continental Coffee).

  • Course Fee: ₹19,94,000
  • Average Package: ₹10,97,000
  • Entrance exam required: CAT, XAT, NMAT, CMAT

8. TISS: Tata Institute of Social Sciences, Mumbai

TISS is a public university, established in 1936 with the motto of re-imagining the future. It is a multi-campus research university which provides a range of courses from law to management. It offers MA in HRM, Labour Studies & Practice, Organisation Development, Change & Leadership, Social Entrepreneurship and Analytics.

  • Course Fee: ₹1,85,000 (MA HRM)
  • Average Package: ₹27,00,000
  • Entrance exam required: CAT, NMAT, ATMA

9. SIMSREE, Mumbai: Sydenham Institute of Management Studies and Research and Entrepreneurial Education

SIMSREE is one of the top management institutes in India which was established in 1983 with the motto “samudyogo hi vishvajita” which means diligent efforts to conquer the world. It provides full-time management courses called Masters in Management Studies and various other part-time courses and PhD doctoral programmes as well. Some of its notable alumni include Neeraj Roy (CEO of, and Sanjay Chandel (CEO of Indiabulls Mutual Fund).

  • Course Fee: ₹1,38,000
  • Average Stipend: ₹1,50,000
  • Entrance exams required: CAT, CMAT, MAH, CET

10. Xavier Institute of Management and Research

XIMR is the management school of St. Xavier’s College which was founded in 2006. It has been approved by AICTE and provides training in key managerial skills. It offers MBA/PGDM and PG degree courses in business and management studies.

  • Course Fee: ₹10,40,000
  • Average Package: ₹6,00,000
  • Entrance exams required: MAH, CET, CMAT, XAT, CAT

Other MBA Colleges in Mumbai

Be it on the professional front or the educational front, Mumbai has always been one of the popular destinations. This is due to the presence of several business schools there. Here, we have recommended a few more colleges which can assist you in choosing from a range of colleges and institutes. The following table consists of a few more good MBA colleges in Mumbai.

S No Name of the Institution
1. Amity Global Business School, Mumbai
2. Lala Lajpat Rai Institute of Management(LLIM)
3. GNIMS Business school
4. International School of Management and Technology, Borivali(W)
5. Indian Institute of Management- Indore(Mumbai campus)
6. WelingKar Institute of Management
7. GNVS Institute of Management
8. BITS School of Management(BITSoM)
9. VIT- Vidyalankar Institute of Technology
10. ITM Business School

Top Reasons to Pursue MBA from Mumbai

Mumbai is the Financial centre of India and a hub for innovation, technology and education. Students and working professionals get wide opportunities to kick-start their careers here. Be it starting your own business or climbing the corporate ladder this city provides every opportunity. Here I have listed three reasons why you should pursue your MBA from Mumbai. They are-

1. Better Standard of Living

Mumbai provides a better standard of living than any other city in India. The cost of living for students is quite affordable and not very high. Mumbai is also known for its excellent commuting facilities like the metro, local trains, and buses, thus travelling within the city is very easy and cost-efficient.

2. Better Placements

Placement options are high in a city like Mumbai as the universities and colleges are in close proximity to the industries. Students also get a lot of internship options because of the demand for interns and also because all big companies have their HQ in Mumbai. Furthermore, studying in India’s commercial hub can open wide opportunities for you and will also provide hands-on experience to you.

3. Knowledge Hub

Apart from being the financial and commercial hub, Mumbai is also the knowledge hub of India. Due to the presence of large industries, you will not only gain theoretical knowledge from universities but also a chance to apply them practically in a working environment.


Besides the best institutions, location also plays an important factor in MBA programmes. Therefore, always choose a location which is student-friendly and can provide long-term growth opportunities to you.

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