Top MBA Colleges in Maharashtra: Fees, Addmisson Process 2026

Kanishk Rahi

Updated on May 1, 2025

11 Topics Guide

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

Top MBA Colleges in Maharashtra: Highlights 2026

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 2026

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.

S.No	Colleges / Universities Name	Type	Accepted Entrance Exams	MBA Fees (Approx.)
1	Shailesh J. Mehta School of Management, IIT Bombay, Mumbai	Public	CAT	INR 7,18,000 (1st Year Fees)
2	IIM(NITIE), Mumbai	Public	CAT	INR 21,00,000 (Total Fees)
3	S.P. Jain Institute of Management and Research, Mumbai	Private	CAT / GMAT	INR 24,00,000 (Total Fees)
4	NMIMS School of Business Management, Mumbai	Private	NMAT	INR 1,195,000 (1st Yr Fees)
5	Symbiosis Institute of Business Management - [SIBM], Pune	Private	SNAP	INR 1,469,500 (1st Yr Fees)
6	K J Somaiya Institute of Management, Mumbai	Private	CAT / NMAT / XAT / GMAT / CMAT	INR 9,59,000 (1st Year Fees)
7	International Institute of Management Studies - [IIMS], Pune	Private	CAT / MAT / XAT / CMAT / ATMA / MAHCET	INR 9,27,000 (Total Fees)
8	Lexicon MILE - Management Institute of Leadership and Excellence, Pune	Private	CAT / MAT / XAT / GMAT / CMAT / MAHCET	INR10,05,000 (Total Fees)
9	Institute of Management Technology - [IMT], Nagpur	Private	CAT / XAT / CMAT	INR 8,23,000 (1st Yr Fees)
10	Vivekanand Business School (VBS), Mumbai	Private	CAT / MAT / XAT / CMAT / ATMA / MAHCET	INR 4,50,000 (1st Yr Fees)

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Admission Process for MBA Colleges in Maharashtra 2026

MBA Colleges in Maharashtra offer admission to candidates based on their entrance exam scores and the candidates have to gain a valid score and fulfill 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 2026

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 exams for MBA in Maharashtra in detail.

CAT (Common Admission Test)

Registration Date: 1st August 2024
Last Date: 13th September 2024
Exam Date: 24th November 2024

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

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 to December 19, 2024

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

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 2026

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 qualifies for the cut-off list are further called for the counseling round and then eventually get admitted. Let’s have a look at the cut-off list of the best MBA colleges in Maharashtra:

S.No	Colleges / Universities Name	Cutoff 2023	Cutoff 2022	Cutoff 2021
1	SJMSOM IIT Bombay Mumbai	90 (CAT)	90 (CAT)	90 (CAT)
2	IIM Mumbai (NITIE)	85 (CAT)	90 (CAT)	70 (CAT)
3	SPJIMR Mumbai	85 (CAT)	85 (CAT)	92 (CAT)
4	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)
5	IMT Nagpur	85 (CAT) 80 (CMAT) 90 (XAT)	85 (CAT) 80 (CMAT) 90 (XAT)	85 (CAT) 90 (CMAT)
6	SIBM Pune	97 (SNAP)	97 (SNAP)	97 (SNAP)
7	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:

S.No	Private Colleges / Universities	Seats offered	Fees (in INR)
1	S.P. Jain Institute of Management and Research, Mumbai	276	INR 24,00,000 (Total Fees)
2	NMIMS School of Business Management, Mumbai	600	INR 1,195,000 (1st Yr Fees)
3	Symbiosis Institute of Business Management - [SIBM], Pune	180	INR 1,469,500 (1st Yr Fees)
4	K J Somaiya Institute of Management, Mumbai	600	INR 9.59 Lakhs (1st Year Fees)
5	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:

S.No	Government Colleges / Universities	Seats Offered	Fees (in INR)
1	Shailesh J. Mehta School of Management, IIT Bombay, Mumbai	152 (including EWS)	INR 4,91,100 (annual fees)
2	IIM Mumbai(NITIE)	300	INR 7,03,000 (annual fees)
3	Department of Management Science, Savitribai Phule Pune University - [PUMBA]	240	INR 66,194 (annual fees)
4	International Institute of Management Studies - [IIMS], Pune	180	INR 4,50,000 (annual fees)
5	Department of Commerce and Management, Shivaji University, Kolhapur	60	INR 44,060 (annual fees)

Specializations Offered by Top MBA Colleges in Maharashtra 2026

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:

S.No	Colleges / Universities List	MBA Specializations
1	Shailesh J. Mehta School of Management, IIT Bombay, Mumbai	Finance Accounting Operations HR
2	IIM(NITIE), Mumbai	Supply Chain Management Business Strategy with Sustainability Safety Management Environmental Management
3	S.P. Jain Institute of Management and Research, Mumbai	Contemporary Marketing Logistics and Supply Chain Consulting Technology Finance
4	NMIMS School of Business Management, Mumbai	Digital Transformation Real Estate Human Resource Management Pharmaceutical Management Family Management Business & Entrepreneurship
5	Symbiosis Institute of Business Management - [SIBM], Pune	Marketing Human Resource Management Finance Operations and Supply Chain Management Data Analytics
6	K J Somaiya Institute of Management, Mumbai	Finance Marketing Human Resources Operations Management Data Science and Analytics
7	International Institute of Management Studies - [IIMS], Pune	Marketing Finance Human Resources Supply Chain Management Business Analytics
8	Lexicon MILE - Management Institute of Leadership and Excellence, Pune	Marketing Finance Human Resource Management Business Analytics
9	Institute of Management Technology - [IMT], Nagpur	Marketing IT Management Operations Management Business Analytics HR & OB, Economics Finance
10	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 2026

MBA colleges in Maharashtra offer the best placement opportunities to all of the students who aim to boost their careers 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 Per Annum. Here are our average placement package and top recruiters of the top 10 MBA colleges in Maharashtra:

S.No	Colleges / Universities List	Average Package	Top Recruiters
1	Shailesh J. Mehta School of Management, IIT Bombay, Mumbai	INR 26,64,000 Per Annum	Accenture / Amazon / EXL Analytics / Google / HCLTec / Wipro
2	IIM(NITIE), Mumbai	INR 27,75,000 Per Annum	Microsoft / Goldman Sachs / Pine Labs
3	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
4	NMIMS School of Business Management, Mumbai	INR 26,63,000 Per Annum	Aditya Birla Capital / American Express / Goldman Sachs / Crisil
5	Symbiosis Institute of Business Management - [SIBM], Pune	INR 26,77,000 Per Annum	Accenture Strategy & Consulting / ACT Fibernet / Aditya Birla Capita
6	K J Somaiya Institute of Management, Mumbai	INR 13,93,000 Per Annum	EY / Airtel / Bisleri / PWC / Accenture / Puma / LG / Bookmyshow / Dell / Google
7	International Institute of Management Studies - [IIMS], Pune	INR 7,50,000 Per Annum	Deloitte / Mondelez / Indegene / Kellogg's / Federal Bank
8	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
9	Institute of Management Technology - [IMT], Nagpur	INR 10,81,000 Per Annum	Deloitte / Accenture / Axis Bank / Kotak / KPMG
10	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 2026

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 student's 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:

S.No	Colleges / Universities List	Fees	Average Package
1	Shailesh J. Mehta School of Management, IIT Bombay, Mumbai	INR 7,18,000 (1st Year Fees)	INR 26,64,000 Per Annum
2	IIM(NITIE), Mumbai	INR 21,00,000 (Total Fees)	INR 27,75,000 Per Annum
3	S.P. Jain Institute of Management and Research, Mumbai	INR 24,00,000 (Total Fees)	INR 33,00,000 Per Annum
4	NMIMS School of Business Management, Mumbai	INR 1,195,000 (1st Yr Fees)	INR 26,63,000 Per Annum
5	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

Admission Advisory FAQs

Frequently Asked Questions

There are more than 700 best MBA colleges in Maharashtra and the Top 10 MBA colleges in Maharashtra are as follows: Shailesh J. Mehta School of Management, IIT Bombay, Mumbai IIM(NITIE), Mumbai S.P. Jain Institute of Management and Research, Mumbai NMIMS School of Business Management, Mumbai Symbiosis Institute of Business Management - [SIBM], Pune K J Somaiya Institute of Management, Mumbai International Institute of Management Studies - [IIMS], Pune Lexicon MILE - Management Institute of Leadership and Excellence, Pune institute of Management Technology - [IMT], Nagpur Vivekanand Business School (VBS), Mumbai