Top MBA Colleges in Maharashtra

INTRODUCTION

The GMAC's Global Survey states that 'MBA is the most popular choice graduate level study among Indian students'. As per a report by the Times of India, MBA graduates have the highest employability among various professional courses, standing at 54%. An MBA serves as a pathway to upper management in the corporate sector, providing individuals with crucial skills in leadership, strategic planning, and financial management.

Maharashtra, home to some of India's top management universities, offers a diverse range of MBA programs with a variety of specializations to boost a student's career aspirations. Whether you're looking for a globally recognized institute, excellent faculty, or strong industry connections, Maharashtra has plenty to offer.

In this article, we shall explore the best colleges for MBA in Maharashtra, highlighting their key features, rankings, and what makes them stand out in the competitive world of management education.

NIRF RANKING

The NIRF (National Institutional Ranking Framework) ranking plays an important role while selecting your ideal college in India and it can be the first among the various parameters to judge a college.

Name of College	NIRF Ranking
Indian Institute of Management Mumbai (IIM)	6
Indian Institute of Technology Bombay (IIT)	10
Symbiosis Institute of Business Management (SIBM) Pune	13
S. P. Jain Institute of Management & Research (SPJIMR)	20
Narsee Monjee Institute of Management Studies (NMIMS) Mumbai	21
IIM Nagpur - Indian Institute of Management	31
K J Somaiya Institute of Management Studies and Research	63
Prin. L.N. Welingkar Institute of Management Development and Research (PGDM)	84
National Institute of Bank Management	91

Source: https://www.nirfindia.org/Rankings/2024/ManagementRanking.html

MBA ENTRANCE EXAM ACCEPTED

The following list contains the names of the entrance exams accepted by their respective colleges so that you can get a clear idea about which MBA entrance exam to prepare for in order to get into your ideal b-school.

Name of College	MBA entrance exam accepted
Indian Institute of Management Mumbai (IIM)	CAT
Indian Institute of Technology Bombay (IIT)	CAT
Symbiosis Institute of Business Management (SIBM) Pune	SNAP
S. P. Jain Institute of Management & Research (SPJIMR)	CAT & GMAT
Narsee Monjee Institute of Management Studies (NMIMS) Mumbai	NMAT
IIM Nagpur - Indian Institute of Management	CAT
K J Somaiya Institute of Management Studies and Research	CAT/GMAT/XAT/NMAT/CMAT
Prin. L.N. Welingkar Institute of Management Development and Research (PGDM)	CAT/GMAT/XAT/ATMA/CMAT
National Institute of Bank Management	CAT/XAT/CMAT/GMAT

PLACEMENTS

The following table comprises the highest and average salary packages offered to the students of the mentioned colleges by multiple companies. This gives an overview about the return on investment (R.O.I) that a student gets upon joining a particular college.

Name of College	Highest Package	Averages Package
Indian Institute of Management Mumbai (IIM)	INR 78.20 LPA	INR 39.70 LPA
Indian Institute of Technology Bombay (IIT)	INR 3.67 Crore PA	INR 23.50 LPA
Symbiosis Institute of Business Management (SIBM) Pune	INR 49 LPA	INR 28.16 LPA
S. P. Jain Institute of Management & Research (SPJIMR)	INR 81 LPA	INR 33 LPA
Narsee Monjee Institute of Management Studies (NMIMS) Mumbai	INR 67.70 LPA	INR 25.13 LPA
IIM Nagpur - Indian Institute of Management	INR 38.4 LPA	INR 16.29 LPA
K J Somaiya Institute of Management Studies and Research	INR 28.25 LPA	INR 12.45 LPA
Prin. L.N. Welingkar Institute of Management Development and Research (PGDM)	INR 24 LPA	INR 13.17 LPA
National Institute of Bank Management	INR 23.5 LPA	INR 15.22 LPA

MBA SPECIALIZATIONS OFFERED

Top MBA colleges in Maharashtra offer a wide range of specializations designed to match industry needs and student aspirations. From Finance, Marketing, and HR to emerging fields like Business Analytics, Operations, and International Business, these programs equip students with the right skills to excel in diverse career paths.

Name of College	Specialization Offered
Indian Institute of Management Mumbai (IIM)	a) Sustainability Management b) Operations and Supply Chain Management
Indian Institute of Technology Bombay (IIT)	a) Finance b) Accounting c) Operations d) HR e) Technology management
Symbiosis Institute of Business Management (SIBM) Pune	a) Marketing b) Human Resource c) Finance d) Operations & Supply Chain Management e) Finance
S. P. Jain Institute of Management & Research (SPJIMR)	a) Finance b) Information Management c) Marketing d) Operations & Supply Chain
Narsee Monjee Institute of Management Studies (NMIMS) Mumbai	a) General MBA b) Human Resource c) Pharmaceutical Management d) Digital Transformation e) Business Analytics f) Healthcare Management
IIM Nagpur - Indian Institute of Management	a) Finance & Accounting b) Marketing c) Decision Science & Information Systems d) Organizational Behavior & Human Resource Management
K J Somaiya Institute of Management Studies and Research	a) Business Analytics & Data Science b) Finance c) Human Resource d) Marketing e) Operations Management
Prin. L.N. Welingkar Institute of Management Development and Research (PGDM)	a) Marketing b) Finance c) Human Resource e) Operations
National Institute of Bank Management	a) Banking and Financial Services

COURSE FEE

The MBA course fee in top colleges of Maharashtra varies depending on the institute and specialization. These fees cover academic resources, industry exposure, and campus facilities, ensuring strong ROI through placements and career growth opportunities.

Name of College	Course Fees (Approx)
Indian Institute of Management Mumbai (IIM)	15 lakh
Indian Institute of Technology Bombay (IIT)	14.2 lakh
Symbiosis Institute of Business Management (SIBM) Pune	24.9 lakh
S. P. Jain Institute of Management & Research (SPJIMR)	21 lakh
Narsee Monjee Institute of Management Studies (NMIMS) Mumbai	23.9 lakh
IIM Nagpur - Indian Institute of Management	21 lakh
K J Somaiya Institute of Management Studies and Research	18.5 lakh
Prin. L.N. Welingkar Institute of Management Development and Research (PGDM)	14 lakh
National Institute of Bank Management	14 lakh

F.A.Q

Which are the top MBA colleges in Maharashtra?

Get a list of the best MBA colleges in Maharashtra based on rankings, placements, and academic reputation.

What entrance exams are accepted by MBA colleges in Maharashtra?

Understand which exams like CAT, MAH-CET, XAT, CMAT, or MAT are accepted by different institutes.

What is the average package in IIM Mumbai?

Average package of IIM Mumbai is INR 39.70 LPA.

What is the Fee structure for MBA in SPJIMR?

The fee for MBA in SPJIMR is 21 lakhs.