The top MBA colleges in Maharashtra include premier national institutes like IIM Nagpur and many other top private MBA colleges.
Continue reading to check some of the top MBA colleges in Maharashtra and their cutoffs. We have also described the admission process of some top colleges in detail later in this article.
Multiple ranking agencies have released the rankings for various management colleges in India. These agencies also release rankings for other streams including Engineering, Medical, Pharmacy, Law, and Architecture. These rankings are carefully curated considering many parameters like Faculty Quality, Placements, Perception of the University, Gender Diversity, etc.
Given below are rankings of top MBA colleges in Maharashtra by some of the top-ranking agencies in India.
NIRF or National Institutional Ranking Framework is a government-sponsored and the most authentic ranking agency in India for colleges and universities. Given below is a list of these colleges as ranked by NIRF Ranking 2020.
|College Name||NIRF Ranking 2020||NIRF Ranking 2019||Change||Average Annual Fee|
|IIT Bombay||11||10||-1||INR 4,24,000|
|NITIE Mumbai||12||29||+17||INR 3,60,000|
|SPJIMR Mumbai||18||16||-2||INR 17,50,000|
|SIBM Pune||22||20||-2||INR 9,60,000|
|NMIMS Mumbai||24||20||-4||INR 9,25,000|
|IIM Nagpur||40||NP||-||INR 6,87,500|
|KJ SIMSR Mumbai||56||54||-2||INR 3,30,000|
|IMT Nagpur||60||70||+10||INR 8,20,000|
|IMED Pune||63||55||-8||INR 2,42,000|
|L N Welingkar Institute of Management Development and Research||68||NP||-||INR 5,50,000|
NIRF has ranked IIT Bombay as the best MBA college in Maharashtra this year.
Source: NIRF Official Website
The fortnightly magazine also releases a comprehensive ranking list of top MBA colleges in India every year. The following table shows which all colleges have been included in the list this year.
|College Name||Business Today All India Rank 2019||Business Today All India Rank 2018||Change from Previous Year||Average Annual Fee|
|SPJIMR Mumbai||4||6||+2||INR 17,50,000|
|NMIMS Mumbai||9||11||+2||INR 9,25,000|
|NITIE Mumbai||11||Not Participated||-||INR 3,60,000|
|SIBM Pune||15||18||+3||INR 9,60,000|
|JBIMS Mumbai||23||23||0||INR 50,000|
|SCMHRD Pune||24||24||0||INR 8,13,000|
|KJ SIMSR Mumbai||25||26||+1||INR 3,30,000|
|Prin. L.N. Welingkar Institute of Management Development and Research, Mumbai||33||34||+1||INR 11,00,000|
|SIMSREE Mumbai||39||44||+5||INR 69,000|
|SIIB Pune||43||67||+24||INR 7,30,000|
Business Today has ranked SPJIMR Mumbai as the best MBA college in Maharashtra.
The following chart shows the Business Today Ranking Parameters division:
Source: Business Today Official Website
The Week and Hansa Research conducted a collective survey of the top B-schools in India including almost all the major education hubs. The magazine has released a list of top MBA colleges in India along with many other lists like top MBA colleges in Mumbai, top MBA colleges in Delhi NCR, etc.
Given below is a list of top B-schools as released by The Week.
|College Name||The Week Ranking 2019||The Week Ranking 2018||Change||Average Annual Fee|
|SPJIMR Mumbai||8||8||0||INR 17,50,000|
|JBIMS Mumbai||10||12||+2||INR 50,000|
|SIBM Pune||11||14||+3||INR 9,60,000|
|NITIE Mumbai||12||15||+3||INR 3,60,000|
|SCMHRD Pune||19||21||+2||INR 8,13,000|
|SIIB Pune||15||32||+17||INR 7,30,000|
|Prin. L.N. Welingkar Institute of Management Development and Research, Mumbai||29||31||+2||INR 11,00,000|
|IMT Nagpur||35||40||+5||INR 8,20,000|
|SITM Pune||38||44||+6||INR 5,90,000|
The Week-Hansa Research survey has also listed SPJIMR Mumbai as the best MBA college in Maharashtra.
This survey was conducted in August and September 2019. The validated data and perceptual scores were calculated after the involvement of the following task force.
MBA education is expensive, thus it becomes important to consider the ROI factor before deciding the college. Listed below are some of the top MBA colleges in Maharashtra according to their ROI value.
|College Name||Average Annual Fee||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|
NITIE Mumbai ranks as the best MBA college in Maharashtra ROI wise.
The table below shows some of the top MBA colleges in Maharashtra and their cutoffs. Most of these colleges accept MAHCET, CAT, MAT, CMAT score.
|SJMSOM IIT Bombay, Mumbai||CAT Cutoff|
|NITIE, Mumbai||CAT Cutoff|
|SPJIMR, Mumbai||XAT and CAT Cutoff|
|KJ SIMSR, Mumbai||Cutoff for MAHCET, MAT, XAT, CMAT, CAT|
|IMT, Nagpur||Cutoff for CAT, XAT and CMAT|
|SIBM, Pune||CAT and SNAP Cutoff|
|SIIB, Pune||SNAP Cutoff|
There are a total of 573 MBA colleges in Maharashtra, out of which 517 are private and 56 are public. The following graph explains their ratio in a better way.
Source: Official Survey
IIT Bombay’s Shailesh J. Mehta School of Management [SJMSOM] offers excellent career opportunities to students.
Given below is a comparison of IIT Bombay’s batch 2017-19 and 2018-20.
|Average Work Experience||24 months||27 months|
|Average Placement||INR 20.8 lakh (Annual CTC)||INR 1.77 lakh (Monthly Stipend)|
The institute offers good placement opportunities to students. The highest package in 2019 went to INR 32.4 lakh. The comparison for the average package offered to different students is shown in the graph below.
Source: IIT Bombay Official Website
NMIMS Mumbai is one of the most popular top MBA colleges in Maharashtra. The institute has its campus in many cities in Maharashtra including Mumbai, Pune, and Navi Mumbai. Not just that, NMIMS also has its campuses at Chandigarh, Hyderabad and Bangalore.
The seat intake of NMIMS Mumbai MBA programs is given below:
Source: NMIMS Mumbai Official Website
NMIMS Mumbai has seen an excellent performance in the 2019 placements.
Have a look at the following table to see the comparison between the two batches.
|Average Work Experience||18 months||18 months|
|Average Age||24 years||23 years|
|Professionally Certified Candidates||311||312|
The following graph shows a course-wise placement comparison of NMIMS Mumbai in 2019.
Source: NMIMS Mumbai Official Website
SIBM Pune is a constituent of Symbiosis International (Deemed University). The institute, established in 1978, is consistently ranked among the top 10 private MBA colleges in India.
The institute has a total intake of 180 seats for the 2-year full-time MBA program. The reservation division for these seats is shown below.
Source: SIBM Pune Official Website
So far, SIBM Pune has updated the placement data for the year 2019 on its website. The following table gives the key insights into SIBM Pune MBA Placements 2019. The table also includes some important batch profile details.
|No. of Visiting Companies||90+|
|No. of Participating Students||180+|
|No. of Offers Made||186|
|Female Students Share||31%|
|Average CTC||INR 20.14 LPA|
|Highest CTC||INR 34.26 LPA|
|Average Work Experience||25 months|
|Top Recruiters||TATA, ITC, Nestle, Colgate, Godrej, Airtel,etc.|
Admissions to the top MBA colleges in Maharashtra are done through various top MBA entrance exams like CAT, SNAP, NMAT, XAT, etc. Many colleges and universities also entertain the score of local state-level MBA entrance exams like MAHCET and BVP BMAT.
Mentioned below are some of the top colleges according to the entrance exam scores they accept and not accept.
MAH CET or the Maharashtra Common Entrance Test is an entrance test conducted by the Directorate of Technical Education (DTE), Maharashtra for admission in the top MBA colleges in Maharashtra. The exam is spread over 2 days period and is conducted in 2 slots, morning slot and the afternoon slot.
Listed below are some of the top MBA colleges in Maharashtra through CET.
MAT or Management Aptitude Test is conducted by the All India Management Association (AIMA) for admissions in more than 600 management colleges in India.
These are the top MBA colleges in Maharashtra accepting MAT score.
|Top MBA Colleges in Maharashtra Accepting CAT||Top MBA Colleges in Maharashtra Accepting CMAT|
|Top MBA Colleges in Maharashtra Accepting XAT||Top MBA Colleges in Maharashtra Accepting NMAT|
Placements in the top MBA colleges in Maharashtra have shown excellent performance in the past years. With some of the top MBA colleges in India located here, like SPJIMR Mumbai, NMIMS Mumbai and SIBM Pune, the state witnesses the influx of some of the best companies from the world during the placement season.
The below graph shows the average CTCs offered in some colleges.
Source: Official Websites
The top recruiters in these companies include:
|Bain & Company||Accenture Strategy||CISCO|
|Boston Consulting Group (BCG)||Morgan Stanley||BYJU’s|
|Barclays Capital||McKinsey & Company||TCS|
|Godrej||Airtel||J P Morgan|
Placements depend a lot upon the stream you choose. So, check the best colleges stream-wise by clicking on the links below.
The finance industry is booming more than ever in India and so the job prospects are also getting better. The industry which has shown an overall growth of 15% till now, is now growing at a rate of around 8.5%. Mentioned below are some of the top MBA colleges in Maharashtra for finance.
|Top MBA Colleges in Mumbai||Top MBA Colleges in Pune|
|Top MBA Colleges in Bangalore||Top MBA Colleges in Hyderabad|
Ques. Which college is best for MBA in Maharashtra?
Ans. IIT Bombay has been ranked as the best MBA college in Maharashtra by NIRF. The list also includes SPJIMR Mumbai, SIBM Pune and ITM Nagpur.
Ques. What is the fees of MBA in Mumbai?
Ans. Mumbai houses the highest number of top MBA colleges in India. The average fee for pursuing MBA from these colleges is INR 7 lakh.
Ques. Which MBA degree pays the most?
Ans. As per the latest trends, MBA Business Analytics and MBA Marketing have proved themselves to be the most lucrative MBA specializations.
Ques. Which is the best college for MBA in Pune?
Ans. Pune houses some of the top MBA colleges in Maharashtra including SIBM Pune, Flame University, and PUMBA.
Ques. What is the salary of MBA in IT?
Ans. The average annual MBA in IT salary is INR 9.8 lakh.
Ques. How can I join MBA in IIM?
Ans. IIMs give admissions on 2 basis:
(i) For National Students: Score of CAT is considered.
(ii) For International Students: Score of GMAT is considered.
Ques. Which IIT is best for MBA?
Ans. IIT Bombay has demonstrated its caliber when it comes to management education. The institute has been ranked 1st in Maharashtra by NIRF Ranking 2019. QS has also named IIT Bombay as the best university in India.
Ques. Is Amity Mumbai good for MBA?
Ans. Amity Mumbai admits students on the basis of various criteria like CAT, XAT, NMAT, MAT, GMAt, etc. The average placement package is around INR 3-4 lakh.
The course remains the same for all first year students ( 3 trimesters per year). This is to equip students with basic knowledge of all subjects. The students get an option to chose subjects of their choice in second year. Specialization is decided based on the maximum numbers of subject chosen from each domain. The decision to chose a subject is mostly dependent on the quality of the faculty, the feedback from the seniors and the interest of the student considering the relevance of the subject in today's world It is mandatory for all students to undergo a one month long social internship (most of the students get their internships under an NGO chosen by the college in their hometown) - a unique thing about NMIMS Day to day learnings in classes are driven by case based study approach. Harvard case studies are used for all subjects along with the regular text books. There are marks for mid terms, final terms, class assignment and class participation.
NMIMS has many committees where students can get into. There are committees that have huge responsibility on them like Placement Committee, Student Council, Industry Partnership cell and then there are domain wise clubs and cells like NJM (for marketing), Finomenon (for Finance) and Optimuz (for Operations). Joining any one of them basis the interest will guarantee additional knowledge and exposure apart from few extra lines on the CV. Apart from these there are interest based cells and societies for dramatics, dancing, photography etc. The annual business fest is Paragana which is held every year around October (www.paragana.nmims.edu). It contains inter college competitions, fests, seminars and corporate events. Classroom infra is quite modern and comparable to any top college of India. Lack of hostel is a major disadvantage for peer learning.
Affordability is an issue. The overall cost of MBA including accommodation and food is approximately 5-6 lacs more than the tuition fees. There were very less scholarship opportunities from the college (benefitting less than 5% of the students as far as I remember), however there are options of corporate scholarships. The college's affinity for money could be judged from the fact it is one of the few colleges which charges you even for attending the group discussion and personal interviews NMIMS MBA could arguably be one of the costliest MBA programs in India.
UBS organizes various events where students from various programs participate and enjoys a lot. There is a club called ExCoLearn Pvt Ltd. (ELC) which is actually a student led business enterprise offering a diversified set of students the opportunity to get a gist of the corporate world.
Highly qualified faculties and are very supportive in nature. Teaching method is really awesome by giving practical examples and are always ready to solve queries.
UBS provides top placement in various companies from all over the world. Students get an opportunity to select job as per their specialization and skills.
Two courses offered by this college:- MBA and PGDM. Each and every faculty is helpful and kind hearted. If you face any problem reach them, Librarians also give the access to you for their digital library if you find difficulty in finding any books physically. Most of the faculties are from PHD Background. It is a 2 years course. I have chosen MBA in Marketing because here u can learn all aspects of marketing and then can apply in your real life also. Summer Internship and Winter Internship also been arranged by the college to get trained and for final placements you will be in a confident position if you read in this college. This college changes me a lot. Teaching Method of each and every teacher is through video presentation. Faculty:Student=8:8 Ratio. Equal Contribution from both ends. You have to enter 15 mins prior to enter the examination hall. Question is set by Pune University for MBA students only. You have to maintain 90% attendance without fail & work hard for success.
Campus is well organised by our late Batch In charge and also the placements Department. Many companies come from various sectors.Corporate Session also take place in our campus on Every Saturday and also many corporate Events arranged. Tech Fest such as JW Marriott, Guruwardwara Event, Durga Puja, Shivajijayanti, Ganesh Chaturthi and many such events organised in our pibm college. Sports such as Cricket, Football, Volleyball etc. organised in our campus. Our Chairman Ramanpreet Sir also focuses on welfare of the students. Many E commerce Websites are also launched by us.
From 3rd Semester Students become eligible for campus placements. Companies Visited so far:- Tech Mahindra, Ecelerx, Safilo India, Dabur, HUL, Wipro, Tata Housing, Amazon, ITC Limited,etc. Highest Package:- 16 Lakhs Average Package:- 4 Lakhs Profiles:- Banking, Digital Marketing, Market Research, Sales, FMCG/FMCD. 90% of the students getting placed in the field of Marketing. My plans after getting the degree is to get a job working in a good working company. My hard work focuses on my loved ones also.
Life in college is very dynamic and interesting. The college will take you to various corporate visits during BOP like Mapro garden and UNO Minda plant, conduct various sports events, and conduct many interesting events(Show your talent, Aarambh). Every year they celebrate Ganesh Chaturthi and Shivaji Jayanti with huge preparation and rituals. There is an annual fest GLORY every year mostly in the month of April but this year it was cancelled due to COVID 19. College provides you with Digital and physical library with all types of books, journals and research papers. Also, they provide the Economic Times newspaper daily to each student. There are clubs and committees formed every year like hostel, transport and food committee, marketing, digital marketing, finance and HR clubs for various events handled by students and guided by HOD
Placements are pretty good in college. They try their best to place each and every student. You get eligible for placement as soon as you jump into 3rd semester. You have an extra edge from other college students as the college provides you with 2 internships in first-year Winter and summer internship. Currently, I have entered in 3rd semester, and approx 12 companies as already came for placement and this year 2020 there will be difference and changes in packages offered by the company due to recession and economy slowdown. The highest package for previous year students was 16 L and min was 4 L. College provides 100% placement but in the end, it depends upon how much hard work or time-pass you have done in the first year.
I took Marketing specialization because I have a technical background (Btech IT) and a very low interest in finance and HR. There are a total of approx 900 students and divided into 60 students per section. The faculty members are highly educated and past experience in the corporate sector. The teaching and pedagogy of the college curriculum very intense so that you don't spend any unproductive hours and they strive you to give as much as knowledge as they can