Top MBA Colleges in Maharashtra 2024: Fees, Admissions, Placements & Rankings

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Update at Jun 1, 2024, 1:02 am

Maharashtra is a huge state and many graduates dream of pursuing their MBA and making their successful career in the corporate world. MBA colleges in Maharashtra offer multiple advantages and opportunities like Global Career Opportunities, Industry-Relevant Programs, Networking and Mentorship, Enhanced Career Growth, Diverse Specializations and Admission Criteria. 

MBA is a two-year PG program that offers multiple course specializations in International Business, Finance, Retail Management, Operational Management, Human Resources, and more. MBA Colleges in Maharashtra accept admissions through entrance exams like MAH CET, CAT, SNAP, CMAT, etc. scores and GD/ PI rounds and some colleges also offer direct admissions to the MBA program. 

Most of the MBA Colleges in Maharashtra offer quality education with additional facilities like infrastructure, in-campus hostel accommodation, placement assistance, industry exposure, and much more. Most of the MBA Colleges in Maharashtra are UGC-approved and have NAAC accreditation

Best MBA Colleges in Maharashtra: Highlights 2024

There are more than 665 best MBA Colleges in Maharashtra; among them, 589 colleges are privately owned, 55 other colleges are Public/Government-owned, and 21 of the MBA colleges are public-private. Entrance exams like CAT, CMAT, MAH CET, MAT, XAT, and ATMA are some of the most accepted entrance exams in top MBA Colleges in Maharashtra. Here are some of the key highlights for the MBA colleges in Maharashtra.

Total Colleges

665

Private Colleges

589

Government Colleges

55

Private-Public Colleges

21

Top Specializations

  • International Business
  • Finance
  • Retail Management
  • Operational Management
  • Human Resources

Average Fees (P.A)

INR 8,00,000 - INR 24,00,000

Entrance Exams Accepted

  • CAT
  • CMAT
  • MAH CET
  • MAT
  • XAT
  • ATMA

Average Salary

INR 9,08,000 Per Annum

Highest Salary

INR 14,00,000 Per Annum

Top 10 MBA Colleges in  Maharashtra

MBA Colleges in Maharashtra deliver students with career growth, better salary packages, and adequate job profiles. Various specializations are offered by the MBA colleges such as International Business, Finance, Retail Management, Operational Management, Human Resources, Marketing, etc. Let’s have a look at the top 10 MBA colleges in Maharashtra along with other relevant details.

Colleges List

Type

Accepted Entrance Exams

MBA Fees (Approx.)

Shailesh J. Mehta School of Management, IIT Bombay, Mumbai

Public

  • CAT

INR 7,18,000 (1st Year Fees)

IIM(NITIE), Mumbai

Public

  • CAT

INR 21,00,000 (Total Fees)

S.P. Jain Institute of Management and Research, Mumbai

Private

  • CAT
  • GMAT

INR 24,00,000 (Total Fees)

NMIMS School of Business Management, Mumbai

Private

  • NMAT

INR 1,195,000 (1st Yr Fees)

Symbiosis Institute of Business Management - [SIBM], Pune

Private

  • SNAP

INR 1,469,500 (1st Yr Fees)

K J Somaiya Institute of Management, Mumbai

Private

  • CAT
  • NMAT
  • XAT
  • GMAT
  • CMAT

INR 9,59,000 (1st Year Fees)

International Institute of Management Studies - [IIMS], Pune

Private

  • CAT
  • MAT
  • XAT
  • CMAT
  • ATMA
  • MAHCET

INR 9,27,000 (Total Fees)

Lexicon MILE - Management Institute of Leadership and Excellence, Pune

Private

  • CAT
  • MAT
  • XAT
  • GMAT
  • CMAT
  • MAHCET

INR10,05,000 (Total Fees)

Institute of Management Technology - [IMT], Nagpur

Private

  • CAT
  • XAT
  • CMAT

INR 8,23,000 (1st Yr Fees)

Vivekanand Business School (VBS), Mumbai

Private

  • CAT
  • MAT
  • XAT
  • CMAT
  • ATMA
  • MAHCET

INR 4,50,000 (1st Yr Fees)

 

Admission Process for MBA Colleges in Maharashtra

MBA Colleges in Maharashtra offer admission to candidates based on their entrance exam scores and the candidates have to gain a valid score and fulfil all the eligibility criteria set by the university. The admission process of most of the Top MBA Colleges in Maharashtra conducts online admission of the candidates.

Let’s have a look at the eligibility criteria of the Best MBA Colleges in Maharashtra.

  • The candidate must have passed a minimum of a 3-year undergraduate degree in any discipline with a 50% score from any recognized university by UGC/AIU.
  • For reserved categories and disabled students who are majorly citizens of Maharashtra, a total of 45% is required.
  • Final-year UG students are also eligible to apply.
  • Candidates who belong to the reserved category need to submit a "Caste Validity Certificate" that has been issued by the Scrutiny Committee of the Social Welfare Department and ST candidates should also submit a "Tribunal Validity Certificate" issued by the Scrutiny Committee of Tribal office.
  • Reserved candidates who do not belong to the SC/ST category also need to possess a legitimate Non-Creamy layer certificate.
  • The admission process for MBA colleges in Maharashtra is quite simple if all the candidates follow these steps:
  • Keep up with the dates set by the university for admission to the MBA program.
  • Appear for the accepted entrance exam by the particular university.
  • Visit the official website of the university and register.
  • Fill in the online application form with all the correct details.  
  • Scan and Upload all the original copies of the required documents.
  • Pay the application fees (if any) through the web portal itself.
  • Recheck all the details and submit the form.
  • Download the payment receipt and other important documents for further use. 

Entrance Exams For Top MBA Colleges in Maharashtra

MBA Colleges in Maharashtra accept national-level entrance exams for admission to this 2-year PG program. Popular entrance exams like CAT, CMAT, MAH CET, MAT, XAT, and ATMA are national-level exams accepted by the Top MBA Colleges in Maharashtra. Let’s have a look at some of the popular entrance exam for MBA in Maharashtra in detail.

CAT (Common Admission Test)

  • Registration Date: first week of August 2024
  • Last Date: third week of September 2023
  • Exam Date: Likely Nov 2024

About: The Common Admission Test (CAT) is India's most reputable national-level entrance examination, which allows candidates to get into top management institutes. CAT is a national-level competitive exam that aims to evaluate the student’s scores to shortlist them.

SNAP (Symbiosis National Aptitude Test)

  • Registration Date: first week of August 2024
  • Last Date: last week of November 2024
  • Exam Date: 8, 15, and 22 December 2024

About: SNAP is a national-level MBA entrance exam conducted by SIU through an online website. Candidates who qualify for the SNAP exam are eligible for admission to management programs offered by SNAP-affiliated institutes/colleges and multiple other private business schools.

NMAT (Narsee Monjee Aptitude Test)

  • Registration Date: 1st week of August 2024
  • Last Date: 2nd week of October 2024
  • Exam Date: October 10, 2024, December 19, 2024

About: The NMAT exam is split into three sections that are Language Skills, Quantitative Skills, and Logical Reasoning. The exam duration granted to students is two hours or 120 minutes. Each section of the examination has a time limit of 40 minutes and carries a total of 120 questions.

GMAT ( Graduate Management Admission Test)

  • Registration Date: 12 January 2024
  • Last Date: Last day of January
  • Exam Date: 5,12,13 February 2024

About: The GMAT is primarily a test to grade the analytical and quantitative reasoning skills, of the students by testing in a time-limited format. The exam is conducted to test how well the candidates think strategically and logically, including quantitative/data-based topics

Cutoff For Top MBA Colleges in Maharashtra

Some of the top MBA Colleges in Maharashtra accept entrance exams for the MBA course. The universities release their merit list for all the qualifying students. Every exam has its cut-off list and the candidates whose entrance score qualify for the cut-off list are further called for the counselling round and then eventually get admitted. Let’s have a look at the cut-off list of the best MBA colleges in Maharashtra.  

College Name

Cutoff 2023

Cutoff 2022

Cutoff 2021

SJMSOM IIT Bombay, Mumbai

90 (CAT)

90 (CAT)

90 (CAT)

IIM Mumbai(NITIE)

85 (CAT)

90 (CAT)

70 (CAT)

SPJIMR, Mumbai

85 (CAT)

85 (CAT)

92 (CAT)

KJ SIMSR, Mumbai

  • 84 (CAT)
  • 98 (CMAT)
  • 500 (GMAT)
  • 95 (NMAT)
  • 71 (XAT)
  • 83 (CAT)
  • 95 (CMAT)
  • 650 (GMAT)
  • 95 (NMAT)
  • 85 (XAT)
  • 86 (CAT)
  • 90 (CMAT)

IMT, Nagpur

  • 85 (CAT)
  • 80 (CMAT)
  • 90 (XAT)
  • 85 (CAT)
  • 80 (CMAT)
  • 90 (XAT)
  • 85 (CAT)
  • 90 (CMAT)

SIBM, Pune

97 (SNAP)

97 (SNAP)

97 (SNAP)

SIIB, Pune

93 (SNAP)

93 (SNAP)

93 (SNAP)

Top Private MBA Colleges in Maharashtra

589 Private MBA colleges in Maharashtra offer world-class education to all MBA aspirants.  These institutes offer better placement opportunities along with other facilities like infrastructure, labs, accommodation, canteen and so on. Here is the list of Top private MBA colleges in Maharashtra.

Private Colleges

Seats offered

Fees (in INR)

S.P. Jain Institute of Management and Research, Mumbai

276

INR 24,00,000 (Total Fees)

NMIMS School of Business Management, Mumbai

600

INR 1,195,000 (1st Yr Fees)

Symbiosis Institute of Business Management - [SIBM], Pune

180

INR 1,469,500 (1st Yr Fees)

K J Somaiya Institute of Management, Mumbai

600

INR 9.59 Lakhs (1st Year Fees)

International Institute of Management Studies - [IIMS], Pune

180

INR  927,000 (Total Fees)

Top Government MBA Colleges in Maharashtra

55 government MBA colleges in Maharashtra offer quality education and top-notch placement opportunities. Here are some of the best MBA colleges in Maharashtra.

Government Colleges

Seats offered

Fees (in INR)

Shailesh J. Mehta School of Management, IIT Bombay, Mumbai

152

(including EWS)

INR 4,91,100 (annual fees)

IIM Mumbai(NITIE)

300

INR 7,03,000 (annual fees)

Department of Management Science, Savitribai Phule Pune University - [PUMBA]

240

INR 66,194 (annual fees)

International Institute of Management Studies - [IIMS], Pune

180

INR 4,50,000 (annual fees)

Department of Commerce and Management, Shivaji University, Kolhapur

60

INR 44,060 (annual fees)

Specializations Offered by Top MBA Colleges in Maharashtra

Most of the MBA colleges in Maharashtra are UGC-approved and have NAAC accreditation. MBA is a two-year PG program that offers multiple course specializations in International Business, Finance, Retail Management, Operational Management, Human Resources, and more. Let’s have a look at the specializations offered by the Top 10 MBA colleges in Maharashtra.

Colleges List

MBA Specializations

Shailesh J. Mehta School of Management, IIT Bombay, Mumbai

  • Finance
  • Accounting
  • Operations
  • HR

IIM(NITIE), Mumbai

  • Supply Chain Management
  • Business Strategy with Sustainability
  • Safety Management
  • Environmental Management

S.P. Jain Institute of Management and Research, Mumbai

  • Contemporary Marketing
  • Logistics and Supply Chain
  • Consultin
  • Technology
  • Finance

NMIMS School of Business Management, Mumbai

  • Digital Transformation
  • Real Estate
  • Human Resource Management
  • Pharmaceutical Management
  • Family Management Business & Entrepreneurship

Symbiosis Institute of Business Management - [SIBM], Pune

  • Marketing
  • Human Resource Management
  • Finance
  • Operations and Supply Chain Management and Data Analytics

K J Somaiya Institute of Management, Mumbai

  • Finance
  • Marketing
  • Human Resources
  • Operations Management and Data Science and Analytics

International Institute of Management Studies - [IIMS], Pune

  • Marketing
  • Finance
  • Human Resources
  • Supply Chain Management
  • Business Analytics
  • more

Lexicon MILE - Management Institute of Leadership and Excellence, Pune

  • Marketing
  • Finance
  • Human Resource Management
  • Business Analytics

Institute of Management Technology - [IMT], Nagpur

  • Marketing
  • IT Management
  • Operations Management
  • Business Analytics
  • HR & OB, Economics
  • Finance

Vivekanand Business School (VBS), Mumbai

  • Business Analytics
  • Banking and finance
  • Marketing
  • Operations and Supply Chain Management
  • Human Resources

Best Placement For MBA Colleges in Maharashtra

MBA colleges in Maharashtra offer the best placement opportunities to all of the students that aim to boost their career in the field of management. The Placement cell of major MBA colleges helps students with Global Career Opportunities, Industry-Relevant Programs, Networking and Mentorship and Enhanced Career Growth. The highest package offered by the top MBA colleges in Maharashtra is INR 57,65,000 Lakhs Per Annum. Here are are average placement package and top recruiters of the top 10 MBA colleges in Maharashtra.

Colleges List

Average Package

Top recruiters

Shailesh J. Mehta School of Management, IIT Bombay, Mumbai

INR 26,64,000 Per Annum

  • Accenture
  • Amazon
  • EXL Analytics
  • Google
  • HCLTec
  • Wipro

IIM(NITIE), Mumbai

INR 27,75,000 Per Annum

  • Microsoft
  • Goldman Sachs
  • Pine Labs

S.P. Jain Institute of Management and Research, Mumbai

INR 33,00,000 Per Annum

  • Aditya Birla Group
  • Capgemini E.L.I.T.E
  • Mahindra GMC
  • RPG

NMIMS School of Business Management, Mumbai

INR 26,63,000 Per Annum

  • Aditya Birla Capital
  • American Express, Goldman Sachs
  • Crisil

Symbiosis Institute of Business Management - [SIBM], Pune

INR 26,77,000 Per Annum

  • Accenture Strategy & Consulting, ACT Fibernet
  • Aditya Birla Capita

K J Somaiya Institute of Management, Mumbai

INR 13,93,000 Per Annum

  • EY
  • Airtel
  • Bisleri
  • PWC
  • Accenture
  • Puma
  • LG
  • Bookmyshow
  • Dell
  • Google and more.

International Institute of Management Studies - [IIMS], Pune

INR 7,50,000 Per Annum

  • Deloitte
  • Mondelez
  • Indegene
  • Kellogg's,Federal Bank

Lexicon MILE - Management Institute of Leadership and Excellence, Pune

INR 8,70,000 Per Annum

  • HSBC
  • Accenture
  • ICICI Bank
  • WNS
  • Wipro
  • Amazon
  • Sony
  • LG
  • KPMG
  • Berger Paints

Institute of Management Technology - [IMT], Nagpur

INR 10,81,000 Per Annum

  • Deloitte
  • Accenture
  • Axis Bank
  • Kotak
  • KPMG

Vivekanand Business School (VBS), Mumbai

INR 8,00,000 Per Annum

  • Deloitte
  • ICICI Bank
  • Unity Small Finance Bank
  • Reliance Retail
  • L&T, Axis Bank

(ROI) For Top MBA Colleges in Maharashtra

The Return on Investment (ROI) for Top MBA colleges in Maharashtra may differ based on multiple factors like fees, placement opportunities, and average salary packages. ROI is an important factor that determines the students choice of colleges and the benefits they receive while enrolling into a particular MBA college in Maharashtra. Here is the ROI of the Top MBA colleges in Maharashtra.

Colleges List

Fees

Average Package

Shailesh J. Mehta School of Management, IIT Bombay, Mumbai

INR 7,18,000 (1st Year Fees)

INR 26,64,000 Per Annum

IIM(NITIE), Mumbai

INR 21,00,000 (Total Fees)

INR 27,75,000 Per Annum

S.P. Jain Institute of Management and Research, Mumbai

INR 24,00,000 (Total Fees)

INR 33,00,000 Per Annum

NMIMS School of Business Management, Mumbai

INR 1,195,000 (1st Yr Fees)

INR 26,63,000 Per Annum

Symbiosis Institute of Business Management - [SIBM], Pune

INR 1,469,500 (1st Yr Fees)

INR 26,77,000 Per Annum

Best Comparison of Top MBA Colleges in Maharashtra

Multiple Top MBA colleges in Maharashtra are available that offer quality education along with better placement opportunities and much more. Eventually, it gets difficult for students to choose the best college for themselves. Various factors decide the Best MBA colleges in Maharashtra. Here is a comparison of the top 3 MBA colleges in Maharashtra. 

Colleges

Shailesh J. Mehta School of Management, IIT Bombay, Mumbai

IIM(NITIE), Mumbai

S.P. Jain Institute of Management and Research, Mumbai

About

Shailesh J. Mehta School of Management popularly known as SJMSOM or simply SOM is a public business school and part of IIT Bombay that was established in 1995.

IIM Mumbai was established by the Government of India in 1963 with the assistance of the United Nations Development Programme (UNDP).

SPJIMR is a private non-profit post-graduate management school in Mumbai, India that was founded in 1981 and offers several full-time and part-time management programs.

NIRF ranking

10th among India's best B-Schools by NIRF 2023

7th by NIRF 2023 under the Management category

20th by NIRF 2023 under the Management category

Infrastructure

550 acres

67 acres

45 acre

Fees

INR 7,18,000 (1st Year Fees)

INR 21,00,000 (Total Fees)

INR 24,00,000 (Total Fees)

Placement Package

INR 26,64,000 Per Annum

INR 27,75,000 Per Annum

INR 33,00,000 Per Annum

FAQ (Frequently Asked Questions).


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