Top Management Colleges in Maharashtra 2024

The state of Maharashtra constitutes more than 440 top MBA colleges offering more than 1583 courses. Popular MBA Colleges in Maharashtra include IIM Nagpur, SIBM Pune, IIT Bombay, IMT Nagpur, and  SPJIMR Mumbai. The sole purpose of these colleges is to provide students career growth, better salary packages, and good job profiles. Various specializations are offered by the MBA colleges such as International Business, Finance, Retail Management, Operational Management, Human Resources, Marketing, etc. Some of the entrance exams accepted by the top MBA colleges in Maharashtra are MAT, CAT, XAT, CMAT, ATMA, GMAT, SNAP, IBSAT, MAH MBA CET, NPAT, etc. 

Top MBA Colleges in Maharashtra Highlights

The below table demonstrates some of the key highlights about MBA Colleges in Maharashtra:

Total Number of MBA Colleges in Maharashtra

440+

Approval Authority for MBA Colleges in Maharashtra

Categories of MBA Colleges in Maharashtra

  • Government: 5

  • Private: 371

  • Public: 3

Total Courses Offered by MBA Colleges in Maharashtra

1583

Average Fees

INR 1,00,000 - 25,00,000

Accepted Entrance Exams for MBA Admission in Maharashtra

MAT, CAT, XAT, CMAT, ATMA, GMAT, SNAP, IBSAT, MAH MBA CET, NPAT.

Top MBA Colleges in Maharashtra Eligibility Criteria

Eligibility varies from institution to institution in different MBA colleges. Check the basic eligibility requirements of top MBA colleges in Maharashtra here. Aspirants must have a graduation degree from a recognized institution or university. For many colleges, 50% criteria must be fulfilled in the case of unreserved category and 45% in the case of reserved category.  Students in the final years or whose results are awaited are also eligible to apply for MBA admissions. Some colleges often ask for work experience for providing admission to the MBA program.

Compare Top MBA Colleges in Maharashtra Ranking 

Several agencies release the rankings for the MBA colleges based on certain parameters every year. These parameters can be University Perception, Gender Diversity, Faculty Quality, Extra-Curricular Activities, Placements, etc. Mentioned below you can find the top MBA colleges in Maharashtra rated by NIRF, Outlook, Times BSchool for the year 2021.

Top MBA Colleges in Maharashtra NIRF Rankings 2021 

IIT Bombay has been ranked as the top MBA college in Maharashtra in the NIRF ranking 2021.  Many other top colleges such as the National Institute of Industrial Engineering, Mumbai, Symbiosis Institute of Business Management, S. P. Jain Institute of Management & Research, and many more have gained rankings by NIRF this year. Check the top MBA colleges in Maharashtra based on the NIRF Ranking 2021 below. 

College Name

NIRF 2021 Ranking

NIRF Score

Indian Institute of Technology Bombay

10

68.08

National Institute of Industrial Engineering, Mumbai

12

64.52

S. P. Jain Institute of Management & Research

19

58.73

Symbiosis Institute of Business Management

20

58.64

SVKM's Narsee Monjee Institute of Management Studies

22

57.53

Indian Institute of Management

40

50.62

K.J.Somaiya Institute Of Management

56

46.68

Bharati Vidyapeeth's Institute of Management and Entrepreneurship Development

69

43.99

Principal L N Welingkar Institute of Management Development and Research

72

43.73

Balaji Institute of Management and HRD

76-100

-

Institute Of Management Technology, Nagpur

76-100

-

Pune Institute of Business Management

76-100

-

Vivekanand Education Society's Institute of Management Studies and Research

76-100

-

Top MBA Colleges in Maharashtra Times BSchool Rankings 2021

Check the top MBA colleges in Maharashtra based on the Times BSchool 2021.

College Name

Times BSchool Ranking 2021

K.J. Somaiya Institute of Management, Mumbai

7

SIES College of Management Studies, Mumbai

22

N.L Dalmia Institute of Management Studies And Research, Mumbai

23

Universal Business School, Mumbai

26

MET Institute of Management, Mumbai

28

ITM Business School, Navi Mumbai

28

Durgadevi Saraf Institute of Management Studies, Mumbai

41

Nest Academy Of Event Management And Development (NAEMD), Mumbai

42

Amity Global Business School (AGBS), Mumbai

49

Aditya Institute of Management Studies and Research, Mumbai

58

D.Y.Patil University. School of Management, Mumbai

69

IBSAR, Navi Mumbai

73

Vivekanand Education Society’s Business School, Mumbai

74

Lala Lajpatrai Institute of Management, Mumbai

82

Sasmira's Institute of Management Studies And Research, Mumbai

84

Top MBA Colleges in Maharashtra Outlook Rankings 2021

Check the top MBA colleges in Ahmedabad based on Outlook 2021.

College Name

Outlooks Ranking 2021

S. P. Jain Institute of Management & Research

2

SIBM Pune

3

NMIMS Mumbai

4

Jamnalal Bajaj Institute Of Management Studies -[JBIMS] Mumbai

14

National Institute of Industrial Engineering (NITIE)

17

Prin. L. N. Welingkar Institute of Management Development & Research

21

K J Somaiya Institute of Management, Mumbai 

24

List of Top Government MBA Colleges in Maharashtra with Fee

Here is the list of Top Government MBA Colleges in Maharashtra along with their course fees.

College Name

Average Fees

SJMSOM IIT Bombay - Shailesh J Mehta School of Management Indian Institute of Technology

INR 4.56 Lacs

NITIE Mumbai

INR 3.6 Lacs

JBIMS Mumbai 

INR 3 lacs

IIM Nagpur

INR 2.75 Lacs

SIMSREE Mumbai - Sydenham Institute of Management Studies Research and Entrepreneurship Education

INR 51 K

List of Private MBA Colleges in Maharashtra with Fee

Here is the list of Top Private MBA Colleges in Maharashtra along with their course fees.

Name of the College

Course Fees

SPJIMR, Mumbai

INR 17.5 Lacs

SIBM Pune

INR 9.6 Lacs

SVKM's Narsee Monjee Institute of Management Studies

-

KJ Somaiya SIMSR

-

IMT Nagpur

INR 8.2 Lacs

Welingkar Mumbai - Prin LN Welingkar Institute of Management Development and Research

-

ROI of Top MBA Colleges in Maharashtra

Check out the (Return on Investment) ROI of Top MBA Colleges in Maharashtra in the tabular format below.

*ROI Percentage={(Average Placement Package)/(Average Annual Fee)}*100%

College Name

Total Fees

Average Placement Package

ROI Rank*

NITIE Mumbai

INR 3,60,000

INR 19,77,000

1

IIT Bombay

INR 4,24,000

INR 20,80,000

2

IMED Pune

INR 2,42,000

INR 7,00,000

3

KJ SIMSR Mumbai

INR 3,30,000

INR 9,40,000

4

NMIMS Mumbai

INR 9,25,000

INR 17,58,000

5

SIBM Pune

INR 9,60,000

INR 17,48,000

6

SPJIMR Mumbai

INR 17,50,000

INR 22,90,000

7

IMT Nagpur

INR 8,20,000

INR 7,64,000

8

BITSoM

INR 24,50,000

-

-

MBA Colleges in Maharashtra with Fee Structure

Check the MBA colleges in Maharashtra and their fee structure provided below.

Name of the College

Course Fees

IIT Bombay 

INR 9.55 Lacs

National Institute of Industrial Engineering 

INR 10.83 Lacs

S. P. Jain Institute of Management and Research (SPJIMR, Mumbai)

INR 8.00 Lacs - INR 17.50 Lacs

Symbiosis Institute of Business Management

INR 14.40 Lacs - INR 25.40 Lacs

School of Business Management SVKM's Narsee Monjee Institute of Management Studies, Mumbai

INR 20.84 Lacs

IIM Nagpur 

INR 13.74 Lacs

K. J. Somaiya Institute of Management Studies & Research 

INR 16.19 Lacs

IMT Nagpur 

INR 11.94 Lacs

Bharati Vidyapeeth’s Institute of Management and Entrepreneurship Development 

INR 4.50 Lacs

Principal L N Welingkar Institute of Management Development and Research 

INR 1.60 Lacs

MBA Colleges in Maharashtra with Placement

Check the top MBA colleges in Maharashtra along with the average salary offered by them during placements as prescribed below.

MBA Colleges in Maharashtra

Average Salary

SPJIMR Mumbai

INR 22,09,000

IIT Bombay

INR 20,08,000

NMIMS Mumbai

1NR 17,58,000

KJ SIMSR Mumbai

INR 9,04,000

IMT Nagpur

INR 7,64,000

MBA Colleges in Maharashtra with Cutoff

The cutoff percentile of MBA colleges in Maharashtra is listed below.

SPJIMR Mumbai Cutoff

IIT Bombay Cutoff

NMIMS Mumbai Cutoff

KJ SIMSR Mumbai Cutoff

IMT Nagpur Cutoff

NITIE Mumbai Cutoff

Top MBA Colleges in Maharashtra Accepting MBA Entrance Exam Scores

Candidates are shortlisted for MBA admission based on their performance in the entrance exams such as MAT, CAT, XAT, CMAT, ATMA, GMAT, etc. Candidates can check the list of MBA colleges in Maharashtra prescribed below accepting such entrance exams. Here is the picture below depicting the top MBA colleges in Maharashtra accepting MBA entrance exam scores.

Entrance Exams

Number of Colleges

CMAT

137

CAT

75

MAT

52

MAH CET

43

XAT

38

ATMA

17

GMAT

10

SNAP

9

MHCET MBA

4

JEE Mains

3

NMAT

2

Also Check:

Top MBA Colleges in Maharashtra Accepting CAT Scores

Top MBA Colleges in Maharashtra Accepting MAT Scores

Top MBA Colleges in Maharashtra Accepting MAH CET Scores

Top MBA Colleges in Maharashtra Accepting CMAT Scores

Top MBA Colleges in Maharashtra Accepting XAT Scores

Top MBA Colleges in Maharashtra Accepting ATMA Scores

MBA Specialisations Offered in Maharashtra

Various specializations are offered by the top MBA colleges in Maharashtra to aspirants based on their interests. The specializations include Finance, Marketing, Human Resource Management, General Management, International Management, Operations Management, etc. Refer to the top 10 MBA specializations offered in Ahmedabad below.

Specializations

Number of Colleges

Business Administration

194

Finance

138

Marketing

135

Human Resource Management

135

General Management

123

International Management

68

Operations Management

66

Supply Chain Management

38

Entrepreneurship

34

Information Technology

33

Top Recruiters of MBA Graduates in Maharashtra

Here are the top recruiters of MBA graduates at top MBA colleges in Maharashtra.

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Showing 1283 Management Colleges in Maharashtra

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    1.7 - 12.5 Lacs Fees

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    25.5 Lacs Avg Package

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    ...+2 GATE , XAT
NITIE Mumbai is popular for Industrial Engineering and Management courses in India. NITIE offers multiple PG Diploma courses such as Industrial Engineering, Industrial Management, Sustainable Management and many more. For admission at NITIE Mumbai, a valid score in CAT is mandatory. The highest salary package offered ay NITIE placements goes up to Rs 44 LPA, and the average salary goes up to Rs 20 LPA. Some of the popular companies visiting the NITIE campus include Axis Bank, Amazon, RBL Bank and many more.
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    15 K - 10 Lacs Fees

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    21.8 Lacs Avg Package

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    JEE Main Exams

    ...+6 CEED , IIT JAM , MHT-CET , UCEED , JEE Advanced , COAP
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  • RatingPune, Maharashtra
  • RatingUniversity
  • #17 NIRF
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    83 K - 8.53 Lacs Fees

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    NAAC Accredition

    ...+1 National Assessment and Accreditation Council (NAAC)
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    16.2 Lacs Avg Package

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    ...+1 SNAP
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  • RatingMumbai, Maharashtra
  • RatingPrivate
  • #20 NIRF
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    95 K - 20.8 Lacs Fees

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    AICTE Accredition

    ...+5 NBA , AMBA , AACSB , AIU , National Board of Accreditation (NBA)
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    32.1 Lacs Avg Package

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    CAT Exams

    ...+2 XAT , NMAT
SP Jain Institute of Management and Research (SPJIMR) is a private business school, established in 1981. It’s one of the top MBA colleges in Mumbai, accredited by AIU. The SPJIMR NIRF ranking is 21 in the management category. The popular courses offered at this institution are PGDM & PGPM. The average package offered at SP Jain Institute of Management and Research placements is Rs 23.6 LPA.
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    26 K - 11.4 Lacs Fees

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    UGC Accredition

    ...+3 NBA , NAAC , AICTE
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    26.6 Lacs Avg Package

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    JEE Main Exams

    ...+6 GPAT , MAH MCA CET , XAT , NMIMS NPAT , NEET , MHT-CET
Narsee Monjee Institute of Management Studies was established in 1981 and has since grown to become a globally renowned institution. The Shri Vile Parle Kelavani Mandal (SVKM), recognised for its social concern, decided to meet India's growing demand for management institutes. The University Grants Commission and the Ministry of Education have authorised the institute, and it is accredited by the NAAC and NBA. The management college is AACSB certified, while the Bengaluru and Hyderabad programmes are AMBA accredited. The Mumbai University was the first to recognise the institute. NMIMS currently offers 17 specialised schools and 16 fields. Management, business, commerce, and economics, pharmaceutical sciences, engineering, and technology management are among the programmes offered.
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  • RatingNagpur, Maharashtra
  • RatingGovernment
  • #98 NIRF
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    2.8 - 2.75 Lacs Fees

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    AACSB Accredition

    ...+2 MHRD , AICTE
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    16.7 Lacs Avg Package

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    82.7 K - 16.6 Lacs Fees

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    ...+6 SAQS , AACSB , AIU , MHRD , ISO , AICTE
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    9.87 Lacs Avg Package

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    GMAT Exams

    ...+6 XAT , CMAT , MAT , MAH MBA CET , NIMCET , CAT
KJ Somaiya Institute of Management was founded in 1981 in Mumbai as a private B-school. KJ SOMAIYA Mumbai is one of the best management colleges in India, ranking in the top amongst full & part-time MBA colleges. KJ Somaiya Institute of Management ranks 71st in the list of NIRF 2022 top Management colleges in India. KJ SOMAIYA Mumbai MBA admissions are offered on the basis of CAT/ XAT / CMAT/ NMAT scores followed by personal interview. KJ SOMAIYA Mumbai highest salary package offered was Rs 26.5 lakh per annum.
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    11.8 K - 7 Lacs Fees

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    NBA Accredition

    ...+3 AICTE , HRD Ministry of India. , National Board of Accreditation (NBA)
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    7.57 Lacs Avg Package

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    XAT Exams

    ...+4 CMAT , MAH MBA CET , CAT , CBSE 12th
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  • RatingPune, Maharashtra
  • RatingPrivate
  • #76 NIRF
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    13.7 - 13.7 Lacs Fees

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    Govt. of I Accredition

    ...+1 AICTE
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    15.2 Lacs Avg Package

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    CAT Exams

    ...+1 XAT
National Institute of Bank Management, or NIBM, is a private institute established in 1969 in Pune. The institute is recognised by the Government of India and approved by AICTE. NIBM Pune offers a two year PGDM course in banking and financial services. To be eligible for admission, candidates must have a minimum aggregate of 50% in any stream. Candidates have to appear for CAT/MAT/XAT/GMAT and get valid scores. Qualified candidates are eligible for group discussion and personal interview. Some of the top recruiters are Cognizant, Accenture, Axis Bank, Deloitte, etc
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    90 K - 10.6 Lacs Fees

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    UGC Accredition

    ...+1 AICTE
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    6.64 Lacs Avg Package

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    XAT Exams

    ...+4 CMAT , NIFT Entrance Exam , FEAT , CSIR NET
FLAME University is a private management university established in Pune. The university is approved by the All India Council for Technical Education (AICTE). The FLAME University courses are offered at the postgraduate level in the field of management. FLAME University offers MBA courses in various specialisations such as marketing, human resources, business analytics, finance, etc. The FLAME University MBA courses have a duration of two years. To be eligible for FLAME University admission to MBA courses, candidates must have a bachelor’s degree with a minimum of 50% marks. FLAME University admissions to MBA courses are based on marks obtained in the CAT/MAT/XAT/CMAT/MH-CET. In the FLAME University placement drive of 2022, 100% of the students were placed in top-notch companies. The average salary package offered to the students was Rs 7.3 LPA. Some of the top recruiters are ICICI Bank, FIS Global, Kotak Bank, TCS, HDFC Bank, and Xiaomi Technology.
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    32 K - 6.52 Lacs Fees

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    UGC Accredition

    ...+2 AIU , Government of Maharashtra
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    JEE Main Exams

    ...+6 MAH MCA CET , MAT , ICAR AIEEA , MHCET Law , MAH MBA CET , MAH AAC CET
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    41.2 K - 3.48 Lacs Fees

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    ...+6 CSIR-UGC , GPAT , UGC , NEET , MHT-CET , GATE
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    18 K - 12.3 Lacs Fees

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    ...+3 AICTE , Government of India , NAAC
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    18.8 Lacs Avg Package

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    ...+4 TISSNET , Maharashtra HSC , CBSE 12th , NEET PG
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    3680 - 51.2 K Fees

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    ...+1 National Assessment and Accreditation Council (NAAC)
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    ...+4 LSAT , Maharashtra HSC , CLAT , CBSE 12th
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    15 K - 58 K Fees

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    ...+1 National Assessment and Accreditation Council (NAAC)
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    8 Lacs Avg Package

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    ...+1 Maharashtra HSC
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    15 K - 2.35 Lacs Fees

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    ...+1 Government of India
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    14.5 Lacs Avg Package

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    ...+2 GATE , UGC NET
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    40 K - 6.05 Lacs Fees

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    ...+3 BCI , PCI , National Board of Accreditation (NBA)
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    7 Lacs Avg Package

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    ...+6 MAH MCA CET , NID Entrance Exam , CEED , XAT , NIFT Entrance Exam , MHT-CET
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    7000 - 2.55 Lacs Fees

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    ...+4 AICTE , BCI , AIU , NCTE
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    3 Lacs Avg Package

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    ...+6 XAT , MAT , CBSE 10th , MHT-CET , Maharashtra HSC , CLAT
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    57.8 K - 3.84 Lacs Fees

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    DTE Mahara Accredition

    ...+2 NAAC , AICTE
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    3 Lacs Avg Package

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    ...+6 GMAT , XAT , MAT , CMAT , MHT-CET , CAT
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    90 K - 90 K Fees

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    ...+5 NBA , AIU , ACU , NAAC , National Assessment and Accreditation Council (NAAC)
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    5 Lacs Avg Package

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    ...+6 CLAT , NATA , RTMNU B.Ed. , CEED , XAT , AILET
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    1.0 - 7 Lacs Fees

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    UGC Accredition

    ...+3 AICTE , AIU , Government of Maharashtra
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    5.5 Lacs Avg Package

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    NATA Exams

    ...+6 XAT , CEED , UGC NET , MAT , CAT , NID
Ajeenkya DY Patil University also known as ADYPU is one of the best universities in Maharashtra for management courses like MBA. The admission process of Ajeenkya DY Patil University is based on the performance in ACET - Ajeenkya Common Entrance Test. ADYPU also accepts the scores of MAT, CAT, ACET, and CMAT. A candidate must score a minimum of 50% marks in their bachelors degree for being eligible to get admission in MBA at Ajeenkya DY Patil University Pune.
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    50.7 K - 6.01 Lacs Fees

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    18.8 Lacs Avg Package

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    XAT Exams

    ...+4 MAT , CMAT , MAH MBA CET , CAT
Jamnalal Bajaj Institute of Management Studies is one of the top MBA colleges in Mumbai, established in 1965. It’s a private institution, approved by AICTE. The JBIMS Mumbai courses are PGDM, PGD, MBA & MMS. The admission process is simple and straightforward. The JBIMS admissions are based on the entrance exam and merit scores. The placement record of this institution is wonderful. The average placement package is Rs 27.63 LPA. The highest JBIMS Mumbai placements salary package is Rs 42 LPA. The top recruiters of this institution are Accenture, Deloitte, E&Y, DE Shaw & Co., Infosys, Piramal, HDFC Bank and many more.
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    6000 - 1.2 Lacs Fees

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    Govt. of M Accredition

    ...+2 UGC , NAAC
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    MU OET Exams

    ...+6 JEE Main , BITS-Pilani , MAH-MPH-CET , XAT , MAT , CMAT
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    4000 - 5 Lacs Fees

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    ...+1 NAAC
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    MAH MCA CET Exams

    ...+6 XAT , LSAT-India , MAT , CMAT , AILET , NEET
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  • RatingNavi Mumbai, Maharashtra
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    41.3 K - 11.7 Lacs Fees

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    4 Lacs Avg Package

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    4.9 - 12 Lacs Fees

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    ...+1 NBA
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    10.8 Lacs Avg Package

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    CAT Exams

    ...+2 XAT , CMAT
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    21.6 K - 52.7 K Fees

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    ...+1 Maharashtra HSC
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    12 K - 4.5 Lacs Fees

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    ...+6 CLAT , NATA , CEED , XAT , AILET , LSAT
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    7900 - 69.9 K Fees

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    AICTE Accredition

    ...+6 British Standard institute (BSI) , NCHEMS , CODL , ASCBE (Europe) , NHRD , IADL
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    10.8 Lacs Avg Package

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FAQs

Which entrance exams are accepted by the MBA colleges in Maharashtra?

MBA colleges in Maharashtra either conduct the institute level entrance exam or accept the national level exams such as CMAT, CAT, XAT, MAT, ATMA, GMAT, SNAP etc.

Which are the top MBA specialisations in Maharashtra?

The most popular MBA specialisations in Maharashtra include Finance, Marketing, International Business, Entrepreneurship, Human Resource Management etc.

Which MBA colleges in Maharashtra offer education through distance learning?

The MBA colleges in Maharashtra that provide distance learning education are Dhanwate National College (DNC), Nagpur, Institute of Sports Science & Technology (ISST PUNE), Pune, Kazian Global School of Business Management (KSBM), Mumbai, Knowledge++ Institute of IT & Management (KIITM), Thane and MIT School of Distance Education (MITSDR), Nagpur etc.

Which MBA colleges in Maharashtra charge less than 1 Lakh?

The MBA colleges in Maharashtra that charge less than 1 Lakh per semester are Garware Institute of Career Education and Development (GICED), Mumbai, Jaipuria Institute of Management - JIM, Noida, Institute of Management Studies (IMS), Noida, K. J. Somaiya Institute of Management Studies and Research (KJ SOMAIYA), Mumbai, Neville Wadia Institute of Management Studies and Research (NWIMSR Pune), Pune and many more.

Does Maharashtra have Public colleges that provide the MBA programme?

Yes, Maharashtra does provide MBA education through Public colleges such as National Institute of Industrial Engineering (NITIE), Mumbai, National Institute of Securities Markets (NISM), Navi Mumbai, Kohinoor Business School (KBS), Mumbai, Indian Aerospace & Engineering, Mumbai, Shri Binzani City College (SBCC), Nagpur etc.

Which are the top private MBA colleges in Maharashtra?

The top private MBA colleges in Maharashtra that provide admission to the candidates are Shailesh J Mehta School of Management (SJMSOM), IIT Bombay, Symbiosis Institute of Management Studies (SIMS), Pune, Garware Institute of Career Education and Development (GICED), University of Mumbai, Mitcon Institute of Management (MITCON), Pune, Thadomal Shahani Centre for Management (TSCFM), Mumbai and many more.

Do MBA colleges in Maharashtra consider the CAT scores for admissions?

Yes, plenty of MBA colleges in Maharashtra consider the CAT scores for admission to the institute. Some of them are Aditya Institute of Management Studies and Research (AIMSR), Mumbai, Amity University, Mumbai, International School of Business and Media - (ISB&M), Pune, Universal Business School (UBS), Karjat, Mumbai, Institute of Business Studies and Research (IBSAR), Navi Mumbai etc.

Which MBA colleges in Maharashtra accept the CMAT scores?

Popular MBA colleges in Maharashtra that accept the CMAT scores are Suryadatta Group of Institutes (SGI), Pune, Thadomal Shahani Centre for Management (TSCFM), Mumbai, Mitcon Institute of Management (MITCON), Pune, Aditya Institute of Management Studies and Research (AIMSR), Mumbai, D Y Patil University School of Management - (DYPUSM), Mumbai etc.

Which city has the most MBA colleges in Maharashtra?

Cities such as Pune, Mumbai, Nashik, Thane and Aurangabad have the maximum number of MBA colleges in Maharashtra.

How many MBA colleges are available in Maharashtra?

There are more than 928 colleges in Maharashtra that offer an MBA programme.

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