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Top 10 MBA Colleges in Mumbai
April 25 2024

The MBA program covers the major facets of management (Accounting, Economics, Marketing, Finance, Strategy/Frameworks, Human Resources, Organisational Behaviour, Leadership and Information Technology, etc.) The curriculum is designed to strengthen the theoretical foundation, provide practical opportunities (internships, research, projects & workshops) build both hard & soft skills, open up a window of career opportunities and help start your own ventures.

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Check Out: 5 Cheapest MBA colleges in India | MBA ranking | Best Low cost PGDM | Best ROI

Students from all over India come to Mumbai for further studies especially in the top management colleges in Mumbai. A list of the top and best MBA Colleges in Mumbai are as follows. 


1. Jamnalal Bajaj Institute of Management Studies (JBIMS)

The Institute was founded in 1965 by the University of Mumbai. JBIMS has been a pioneer in management education. JBIMS is consistently ranked among the top 10 premier B-schools in the country with a legacy spanning over the past 52 years. India’s first full time 2-year Masters in Management studies (MMS) was started in JBIMS under the stewardship of the late Dr. K. S. Basu. Being one of the oldest Bschools in India, JBIMS has cemented its reputation as the preferred campus for the country’s most prestigious organizations.

The Institute has full-time faculty in the core management disciplines and the functional areas of management. The Institute also has a panel of eminent management experts and senior practicing managers from diverse fields of management. JBIMS offers full-time and part-time programmes in management. The proximity of the Institute with the commercial hub of India is an added advantage.

This has strengthened the affiliation of JBIMS with the corporate magnates, illustrious alumni and a large number of eminent visiting faculty. This exposure with the industry experts has helped the students for years to understand the management practices and to hone their skills to match the industry expectations.

Course Name & Eligibility

  1. Master of Management Studies (MMS):

    • Eligibility: Candidates must have a Bachelor's degree in any discipline from a recognized university with a minimum aggregate score.
    • Admission Process: Typically, admission is based on the candidate's score in entrance exams like CAT, CMAT, XAT, etc., followed by group discussions and personal interviews.
  2. Executive Post Graduate Diploma in Management (EPGDM):

    • Eligibility: Candidates typically need a Bachelor's degree with a certain number of years of work experience (varies depending on the institute's requirements).
    • Admission Process: Admission criteria usually include academic qualifications, work experience, and performance in entrance exams or personal interviews.
  3. Ph.D. Program:

    • Eligibility: Candidates must have a Master's degree in a relevant discipline with a minimum aggregate score from a recognized university.
    • Admission Process: Admission is based on academic qualifications, research proposal, and performance in interviews.


  • JBIMS offers placements on par with India's elite IIMs. The entire class of 130 students was offered extraordinarily lucrative jobs during the 2021-2023 school year. The biggest package on offer was 35.75 LPA lakhs per year, with an average pay of 28.02 lakhs per year.
  • The campus placements attracted a total of 69 companies. BFSI, FMCG, and pharmaceuticals were among the top recruiters. Manufacturing, Telecom, Auto, Conglomerates, Consulting, E-commerce, and the IT segment all had some fantastic employment openings.

Check Out: MMS Placement Reports

2. Sydenham Institute of Mgmt. (SIMSREE)

Established in 1983, SIMSREE is a B-Graduate School in Mumbai that promises excellence in academics. In 30+ years of its existence, the college that follows the mantra ‘Work conquers all’ has exhibited spectacular growth in this competitive domain and is lauded for its efforts.SIMSREE’s strong corporate interface, notable alumni base, ranking among the top MBA colleges of the country, and awards/certifications are proof of its commitment towards imparting an exceptional learning experience that is holistic and enriching.

Course Name & Eligibility

  • The All India Council for Technical Education has authorized two SIMSREE programs (MMS and PGDBM) (AICTE). The two-year full-time courses are divided into four semesters. The MMS and PGDBM curricula essentially follow the same approach. The first year is spent bolstering the foundations of the company. Students can choose from a variety of specialties in their second year (Finance, Marketing, Human Resources, Operations & Systems). A two-month summer internship is required as part of the curriculum.


  • The Placement Committee is in charge of the recruitment process (a student body). The Committee is resourceful, and it goes to great lengths to connect students with major corporations to assist them in obtaining lucrative jobs and internships. The MBA college has a perfect placement record year after year (100 percent).
  • Following the previous year's pattern, industry executives from many areas once more hired from the college.  As many as 72 companies participated in the placement season this year with the average salary offered standing at Rs. 15.19 lakhs per annum. The highest salary offered on campus was Rs. 21.53 lakhs per annum.

Check Out: Executive-Placement-Report-21-23.pdf

3. SP Jain Institute of Management & Research (SPJIMR)

SP Jain Institute of Management & Research (SPJIMR) is a name to reckon in the management education arena. Since its inception in 1981, there has been no looking back for SPJIMR. The private-run college made it to the coveted list of India’s top ten B-schools by 1994-1995 and has firmly retained this position ever since. SPJIMR is recognised for its distinguished pedagogic approach, pioneering programs, and emphasis on values. The location of the college in the heart of the financial capital is conducive to industry exposure.


Course & Eligibility

  • SP Jain offers a two-year full-time Post Graduate Diploma in Management (PGDM) program that is comparable to an MBA. Students are chosen based on their overall profile and their entrance exam (CAT or GMAT) score. All students will cover the same themes in the first year.
  • The second-year (fourth and fifth trimesters) concentrates on core specialties in a variety of fields (Finance Management, Marketing Management, Information Management, and Operations Management). Applicants must, however, select a specialism throughout the application process. SPJIMR emphasizes group work, mentorship programs, projects, and field assignments in addition to theoretical knowledge.


  • PGDM Class of 2023 Placements – An Overview:

    • Participants in the Batch: 237
    • Number of companies participating: 63
    • Number of first-time recruiters: 33
    • Total Number of Pre-Placement Offers: 112
    • Median Salary: 32.89 LPA (9% increase compared to last year)
    • Average Salary: 33.02 LPA (3% increase compared to last year)
    • Highest Salary: 77.8 LPA (46% increase compared to last year)

4. Narsee Monjee Institute of Management Studies (NMIMS)

NMIMS was established under Mumbai University in 1981 and bestowed the Deemed University status in 2003 by the Government of India. The college is a popular education destination for students seeking an MBA degree. Within a short span of 36 years, NMIMS has garnered quite an impressive reputation. It features in the coveted list of the top 10 B-schools of the country. Other feathers in its plume include an A grade rating and accreditation by NAAC with 3.59 CGPA. Its convenient location in the financial capital has enabled NMIMS to maintain strong ties with the industry, high profile MNCs, and illustrious alumina.

Top Ranked University in India | NMIMS


Course & Eligibility

  • A full-time Master of Business Administration program is available at NMIMS. GMAC administers its own entrance exam (NMAT), which is followed by a GD and PI. The course is divided into six trimesters over the course of two years. The first year's subjects are common, but students in the final year can choose from a number of specialties (MBA core, HR, Analytics & Decision Science). Every trimester at NMIMS provides a variety of electives. All MBA students must participate in a summer project (6-8 weeks).


  • The application form fees amount to ₹2000, with the application deadline now closed. The institute accepts NMAT scores, with a cutoff set at 235 or higher. The total fees for the program stand at ₹21.9 Lakhs. Currently, the director position is held by TBA, with Chandrima Sikhdar tentatively expected to assume the role. The batch profile comprises 71% male and 29% female students, with 72% coming from engineering backgrounds, 13% from commerce, and 23% being freshers. The batch size is set at 600 students, with a diverse pool of 175 companies participating in recruitment drives.
  • PPOs and PPIs were given to about 46% of the group. Among the companies that visited the campus were Goldman Sachs, GE, Microsoft, ITC, L'Oreal, Asian Paints, HUL, Deloitte, ICICI, Flipkart, and the Aditya Birla Group. Jumbo Electronics and Square Yards both offered international placements.
  • Company Names:
    • Microsoft
    • Google
    • TAS
    • JP Morgan
    • Morgan Stanley
    • Salesforce
    • Samsung
  • Salary Statistics:
    • Highest Salary (In Lakhs): ₹67.8 LPA
    • Average Salary (In Lakhs): ₹26.63 LPA
    • Median Salary (In Lakhs): ₹22.36 LPA

Check Out: Final-Placement-2023

5. Indian Institute of Management – Mumbai

IIM Mumbai erstwhile known as NITIE was established by the Government of India in 1963 with the assistance of the United Nations Development Programme (UNDP) and the International Labor Organization (ILO). IIM Mumbai has been consistently ranked among the top B-schools in India. IIM Mumbai is ranked 9th in the National Institutional Ranking Framework (NIRF) rankings for 2022 among Management Institutes across India. IIM Mumbai is committed to creating skilled professionals in diverse functional areas like Operations Management, Analytics, Finance, Marketing, Project Management, HR, Information Technology, and Sustainability Management.

Since the inception of IIM Mumbai's Fellow Program in 1980, almost 50 Fellowship (Doctoral) Degrees have been granted. Alumni of the Fellowship Program find employment in academia and business. Currently, around 60 candidates are registered for the same, and four fellowships are given out annually on average. The course covers all aspects of environmental management, ergonomics, and management. It is an interdisciplinary program.

Course & Eligibility

  • The candidate must hold a Bachelor’s Degree, with at least 50% marks or equivalent CGPA [45% in case of candidates belonging to the Scheduled Caste (SC), Scheduled Tribe (ST) and Persons with Disability (PwD) categories], awarded by any University or educational institution as incorporated by an Act of Parliament.
  • Applicants should take the Common Admission Test (CAT-2023) conducted by the Indian Institutes of Management (IIMs) to apply for the programs.
    • For General Candidates: ₹ 2000 /-
    • For SC/ST/PwD Candidates: ₹ 1000 /-


  • A total of 107 companies participated in the final placement season last year. 
  • The highest package for full-time placements at IIM Mumbai reached INR 78.20 Lakh Per Annum (LPA).
  • The average package for the same stood at INR 27.75 LPA.

6. Shailesh J. Mehta School of Management (SJMSOM)- IIT Bombay

To promote interdisciplinary learning and to keep up with the changing environment, IIT Bombay established its management school in 1995 with the objective of transforming professionals with technological backgrounds to "Renaissance Leaders" of tomorrow. In the year 2000, the school was renamed as Shailesh J Mehta School of Management, in honor of Dr. Shailesh J. Mehta, a distinguished alumnus of IIT Bombay and a generous contributor to the school. The School Of Management already leads the way in preparing its Graduates to respond to the new challenges by drawing on the varied intellectual resources of IIT Bombay and providing an outstanding and innovative program in management education.

Shailesh J. Mehta School of Management, IIT Bombay – Innovation,  Leadership, Entreprenuership

The school was ranked fifth in the National Institutional Ranking Framework Management (2018) and 16th in the Indian Top 100 Management Schools Survey by Outlook (2017).


  • Four-year Bachelor's or Master's degree in any discipline with at least 60% marks (55% for SC/ST/PWD candidates) or a minimum CPI of 6.5 (6 for SC/ST/PWD candidates) out of 10 from institutes/universities.
  • Candidates in their final year of study or awaiting results are also eligible to apply. The applicant must have received an aggregate of 60% marks (55% for candidates from the SC/ST/PWD categories) or equivalent until the most recent exam has been completed and the results are available. Admission will be subject to the candidate meeting the eligibility conditions.


  • The placement exercise was undertaken in a hybrid format to provide multiple possibilities for corporate employees based on their convenience. Students' knowledge and skills in their particular disciplines have led to a high number of offers from firms, despite business changes.  
  • SJMSOM, IIT Bombay, was the #1 pick for recruiters, attracting many new recruiters. 
  • Recruiting Companies: 48
  • CTC Statistics:
    • Highest CTC: ₹72.00L
    • Median CTC: ₹26.73L
    • Average CTC: ₹28.01L
  • Average CTC Split by Percentile:
    • Top 25%ile: ₹38.29L
    • Top 50%ile: ₹33.82L
    • Top 75%ile: ₹30.71L

Check Out: Final-Placement-Report-2022-24.pdf

7. Welingkar Institute of Management Development

Welingkar Institute of Management Development (WeSchool) consistently features among the top 30 education establishments in the country.  Founded in the year 1977, it is a part of the esteemed Shikshana Prasaraka Mandali that has 43 colleges under its umbrella. The college focuses on imparting the key skills and knowledge essential to attain success in the constantly evolving business environment. WeSchool has a long list of credentials to its name. The latest is the “AICTE-CII National Award for Best College for Industry College Linkage 2015”. 


Apply Now


  • Candidates with minimum 50% in graduation Degree Exam from a recognized University, completed by June 2024.
  • Should have taken CAT (2023) conducted by the IIMs for the year specified in the advertisement (IIMs have no role in the Welingkar admission process) and /or/ XAT (2024) / and / or ATMA (Feb 2024) and / or CMAT (2024) and / or GMAT (2021 onwards).


  • Welingkar Institute of Management Development and Research (WeSchool) in Mumbai has a good record for placements for its MBA/PGDM courses. 
  • In Mumbai in 2023, the batch size was 720, with the highest package offered at ₹25.48 LPA, an average package of ₹12.01 LPA, and a median package of ₹11.80 LPA.
  • In Bengaluru in 2023, the batch size was 270, with the highest package offered at ₹18.20 LPA, an average package of ₹10.20 LPA, and a median package of ₹10 LPA.
  • Company Name: KPMG, Deloitte, EY, Genpact, Kaya clinic, Aditya Birla group, Decathlon, Reliance, Berger, Nestle, Asian Paints,ISS, Nielsen, Wipro, cognizant, TCS, GEP, Jio saavan, ZEE tv, ICICI, Morgan Stanley, Amazon, zomato, DHL., Makemytrip.

8. K.J. Somaiya Institute of Management

Established in 1981 as part of Somaiya Vidyavihar, the private-run college has emerged as one of the top MBA colleges of the country. It has produced exceptional managers that hold strategic positions across various domains around the globe. Set on 60 acres, the medium-sized campus with greenery, trees, gardens, and world-class infrastructure is beautiful. 


K J Somaiya


K. J. Somaiya Institute of Management Studies and Research was established in 1981 as a part of Somaiya Vidyavihar with the objective of providing state-of-the-art education in management and allied areas. The institute is consistently ranked among the top 25 management institutes and top 10 private sector B-schools in India. The institute offers full time, part-time and executive programs in Business Management along with Masters in Computer Applications and Doctoral Programmes.

The Institute is approved by the AICTE and accredited by the NBA. It has been certified by the Bureau Veritas. The Institute offers MBA, Executive MBA, MCA, and Ph.D. programs in various specializations. It has 131 highly-qualified and knowledgeable faculty members. KJ Somaiya also conducts various customized Management Development Programmes and Faculty Development Programmes.

 Top MBA Courses Specializations offered are:

  1. International Business
  2. Retail Management
  3. Sports Management
  4. Financial Services
  5. Integrated Marketing Communication
  6. Healthcare Management
  7. Data Science & Analytics
  8. Human Resources
  • Average Salary: ₹25.96 LPA
  • Median Salary: ₹12.32 LPA
  • Lowest Salary: ₹11.75 LPA
  • Number of Companies: 117
  • Batch Size: 600+
  • Fees: ₹20 Lakhs
  • Exams Accepted: CAT, XAT, NMAT, CMAT, GMAT
  • Cutoffs: 225+ NMAT, CAT 82%ile+, XAT 70%ile+, GMAT 650+
  • Director: Raman Ramachandran, Ph.D.
    • Director - K J Somaiya Institute of Management
    • Dean, Faculty of Management Studies, Somaiya Vidyavihar University
  • Batch Profile:
    • Male: 58%, Female: 42%
    • 58% Freshers
    • 27% with up to 24 months of experience
    • 11% with 25 to 36 months of experience
    • 8% with 37 months & above of experience
  • Recruiting Companies: Amazon, Flipkart, Ola, Dabur India, Godrej Consumer Products, Accenture, Deloitte Consulting, KPMG Consulting, PwC Consulting

Apply Now

9. SDA Bocconi Asia Center

SDA Bocconi Asia Center is a pan-Asian hub in Mumbai that has been deploying Executive Education and Postgraduate Programs designed and implemented by SDA Bocconi School of Management, Italy, since 2012.
SDA Bocconi School of Management Mumbai, Mumbai: Placement, Admission 2024,  Course, Fee & Ranking by Dial Education
 SDA Bocconi Asia Center strives to deploy and disseminate innovative business knowledge to contribute to the overall development of individuals and organizations. A unique approach is offered, by promoting knowledge through SDA Bocconi School of Management industry-relevant research and teaching. It spreads SDA Bocconi School of Management expertise and excellence in design, branding innovation and entrepreneurship to build soft and managerial skills and share practices across borders to empower people.
MBA Programs, Executive and Specialized Masters, Executive Programs, Custom Programs, Applied Research, Research Labs and Knowledge Centers all contribute to this – a wide offering aimed at professionals from all over the world and from all sectors of the economy. SDA Bocconi is among the leading Business Schools in Europe and is among the few to have gained the triple accreditation – EQUIS, AMBA and AACSB – which puts it in the élite of Business Schools worldwide.


  • Applicants must have an undergraduate degree in any discipline or should be in their Final Year when applying.
  • IMB is designed for freshers and young executives with up to 5 years of work experience.
  • The eligibility criteria for academics is a minimum of 55% across 10th, 12th and under graduation and a minimum aggregate average of 70% of 10+12+undergrad.
  • All applicants are required to appear for at least one of the below mentioned tests before submission of their application, in a particular round.
  • Bocconi Test
  • CAT scores – 2022/2023
  • GMAT scores taken after January 1, 2021
  • NMAT by GMAC score of 2022/2023
  • GRE scores taken after January 1, 2021
  • The candidate can be asked to take the Bocconi Test if they don’t have any other test score, or if the provided score is not up to the expectation of the admissions committee. There is no additional fee to take the Bocconi Test.


  • SDA Bocconi Asia Center in Mumbai has a 100% placement record, The highest package offered in 2022 was INR 36.26 LPA, which was a 68% increase from the previous year. In 2023, the average salary was INR 14.30 LPA, with the highest package offered at INR 39.24 LPA. The median salary was INR 13 LPA, with the top 25% students receiving an average salary of INR 20.01 LPA and the top 50% receiving an average salary of INR 17.11 LPA.
  • Number of Companies: 110
  • Batch Size: 320
  • Fees: ₹19.4 Lakhs
  • Exams Accepted: CAT, NMAT, GMAT, and Bocconi Test
  • Cutoffs: CAT 90%ile+, NMAT 230+, GMAT 650+
  • Batch Profile: 49% Female and 51% Male

Apply Now

Anisha Mukhija

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