Top 10 MBA Colleges In Maharashtra 2024- Admission, Fees, Exams

Maharashtra is not only one of the financial centres of the nation but is also a hub of some of India’s top colleges for management education. Whether it be private management institutes or public universities and colleges, Maharashtra has a number of options to choose from. Here is a list of the various top accredited MBA colleges in Maharashtra along with important details about the course. Continue reading to find out the best college in Maharashtra for your MBA education. 

Top MBA Colleges in Maharashtra

Management institutions in Maharashtra have been consistently ranked among the best educational institutions of India by various statutory and ranking bodies, including those of national acclaim like the NIRF. Based upon NIRF Rankings of the management category, here we have presented the top 10 colleges of Maharashtra providing an MBA course to management aspirants. Also Read: Full form of MBA.

MBA College/University	NIRF Ranking	Course	Accepted Entrance Exams	MBA Fees (Approx.)
National Institute of Industrial Engineering, Mumbai	7	Post Graduate Diploma in Management (PGDM)	CAT	INR 13,00,000-INR 14,70,000
Indian Institute of Technology (IIT), Bombay	10	Master of Business Administration (MBA)	CAT	INR 2,00,000-INR 7,00,000
Symbiosis Institute of Business Management (SIBM), Pune	17	Master of Business Administration (MBA)	SNAP	INR 21,00,000
S. P. Jain Institute of Management & Research, Mumbai	20	Post Graduate Diploma in Management (PGDM)	CAT/GMAT	INR 20,00,000-INR 29,00,000
SVKM's Narsee Monjee Institute of Management Studies, Mumbai	21	Master of Business Administration (MBA)	NMAT	INR 20,00,000-INR 24,00,000
IIM Nagpur	43	Post Graduate Program in Management (PGPM)/ Master of Business Administration (MBA)	CAT	INR 18,00,000
K.J. Somaiya Institute of Management, Mumbai	45	Master of Business Administration (MBA)	CAT/XAT/CMAT/NMAT/GMAT	INR 20,00,000
Principal L N Welingkar Institute of Management Development and Research, Mumbai	73	Post Graduate Diploma in Management (PGDM)	CAT/XAT/CMAT/GMAT/ATMA	INR 20,00,000
National Institute of Bank Management	76	Post Graduate Diploma in Management (PGDM)	CAT/XAT/GMAT/CMAT/GRE	INR 16,00,000
Institute of Management Technology (IMT), Nagpur	Band 101-25	Post Graduate Diploma in Management (PGDM)	CAT/XAT/CMAT/GMAT	INR 14,50,000

General Eligibility and Accepted Entrance Exams for Admissions in Maharashtra MBA Colleges 

For seeking admission in an MBA college in Maharashtra, there are three main levels that a candidate should qualify: 

• Firstly, they should meet the minimum eligibility criteria for admission to an MBA
• Secondly, they should appear in accepted management entrance exam at the national or state level and have a valid qualifying score to apply to a reputed management college for an MBA
• Lastly, the candidate must pass through the rounds of screening at the university/institutional level through personal interviews and/or group discussions. 

The minimum eligibility to apply to an MBA course in Maharashtra is to have completed a Bachelor's level of education in any stream with at least 50% aggregate marks. The graduation should be completed from a recognised higher educational institute of India. 

Further, the candidate should also clear a management aptitude examination at either the national level, the state level or the university-level. Some of the commonly accepted entrance examinations in the top MBA colleges and institutes of Maharashtra have been listed here. 

College/University	Accepted Management Entrance Exam
National Institute of Industrial Engineering, Mumbai	CAT
Indian Institute of Technology (IIT), Bombay	CAT
Symbiosis Institute of Business Management (SIBM), Pune	SNAP
S. P. Jain Institute of Management & Research, Mumbai	CAT/GMAT
SVKM's Narsee Monjee Institute of Management Studies, Mumbai	NMAT
IIM Nagpur	CAT
K.J. Somaiya Institute of Management, Mumbai	CAT/XAT/CMAT/NMAT/GMAT
Principal L N Welingkar Institute of Management Development and Research, Mumbai	CAT/XAT/CMAT/GMAT/ATMA
National Institute of Bank Management	CAT/XAT/GMAT/CMAT/GRE
Institute of Management Technology (IMT), Nagpur	CAT/XAT/CMAT/GMAT

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Best Private & Public MBA Colleges of Maharashtra

Here is a detailed take about the top 10 MBA colleges of Maharashtra along with important details about the MBA (or equivalent) courses offered at these institutions. 

Rank #1 - National Institute of Industrial Engineering, Mumbai

The National Institute of Industrial Engineering (NIIE), Mumbai, started in 1963, is the sixth best management institute of India as per NIRF Management Rankings 2024 and it has also been ranked as the third best management institution in the Times Higher Education (THE) Impact Rankings. The institute is well-accredited and offers a PGDM course equivalent to an MBA program. Offered specialisations include industrial management and industrial safety and environment management. The placements after course completion at NIIE Mumbai are also quite robust with excellent returns on investment. Find more details about the course here. 

Degree Offered	Post Graduate Diploma in Management (PGDM)
Accreditations	NIRF Rank 7 in Management Category, THE Impact Ranking 2021 (Rank 7)
Course Duration	2 Years
Accepted Entrance Examinations	CAT
Course Specialisations	Industrial Management  Industrial Safety and Environment Management (ISEM)
Full Course Fees	INR 13,00,000-INR 14,70,000
Average Placement Package	INR 31,00,000 P.A

Rank #2 - Indian Institute of Technology (IIT), Bombay 

IIT Bombay is the tenth top institution of India in the management categories of NIRF Rankings (2024) and the fourth best of the nation in the Overall category. It offers its MBA program through the Shailesh J. Mehta School of Management that was established in 1995 as the Management School (IIT Bombay). The course offered here is a full-time MBA program with options of specialising in finance, operations, marketing or information systems. Pursuing an MBA program from IIT Bombay confers major benefits such as having a degree from one of India’s most prestigious institutions, support and mentorship from top faculty, alumni network access and excellent placements. Find further details about the MBA program at IIT Bombay here. 

Degree Offered	Master of Business Administration (MBA)
Accreditations	NIRF Rank 10 in Management Category(2024), QS World University Ranking (Business and Management Category) Rank 5
Course Duration	2 Years
Accepted Entrance Examinations	CAT
Course Specialisations	Finance Management  Operations Management  Marketing Management  Information System Management
Full Course Fees	INR 1,63,100 for Students Belonging to Reserved Categories INR 3,63,100 for Domestic Students  INR 6,90,950 for International Students
Average Placement Package	INR 29,00,000 P.A

Rank #3 - Symbiosis Institute of Business Management (SIBM), Pune

The Symbiosis Institute of Business Management (SIBM) was established in Pune in 1978 and is a part of the prestigious Symbiosis Group of Institutions. It is an A++ institution of India as per NAAC ratings. The institute is also among the top 13 management education institutions of India based upon the NIRF Management category rankings of 2024. The course offered here is a full-time MBA for which candidates are selected on the basis of their SNAP scores. The institute offers all-round educational services to students in addition to efficient placement support. The full details about the course are provided here. 

Degree Offered	Master of Business Administration (MBA)
Accreditations	NAAC A++, NIRF Rank 17 in Management Category (2024)
Course Duration	2 years
Accepted Entrance Examinations	SNAP
Course Specialisations	Marketing Management  Finance Management  Human Resource Management (HRM)  Operations & Supply Chain Management  Data Analytics
Course Fees	INR 21 Lakhs (Approximate Fee)
Average Placement Package	INR 18,00,000 P.A

Rank #4 - S. P. Jain Institute of Management & Research, Mumbai

The S. P. Jain Institute of Management and Research (SPJIMR) is a private management college of Mumbai that was established in 1981. It is a well-accredited management institution with national and international accreditations such as AACSB, AMBA and the NBA. The course offered at SPJIMR is a PGDM course (which has equivalence to an MBA as per the AIU mandate), which is offered here in 4 major specialisations and 6 minor areas of specialisation. Find more important details about the PGDM course here. 

Degree Offered	Post Graduate Diploma in Management (PGDM)
Accreditations	NIRF Rank 20 in Management Category (2024), AACSB, AMBA, NBA
Course Duration	2 Years
Accepted Entrance Examinations	CAT, CMAT
Major Course Specialisations	Marketing Management  Finance Management Operations and Supply Chain Management  Information Management
Minor Course Specialisations	Marketing Management  Finance Management Operations and Supply Chain Management  Information Management  Analytics Management Consulting Management
Full Course Fees	INR 20,42,000 for Indian students  INR 29,05,000 for International Students
Average Placement Package	INR 33,00,000 P.A

Rank #5 - SVKM's Narsee Monjee Institute of Management Studies (NMIMS), Mumbai

The Narsee Monjee Institute of Management Studies (NMIMS) is a highly reputed business school of India and is among the top 21 management institutions of India based upon the NIRF rankings (2024). It is a NAAC-rated A++ institute with top facilities for learning including technologically advanced tools and infrastructure, innovative pedagogy, faculty supervision and mentorship, professional training and grooming and excellent campus placement opportunities. Find more details about the MBA program offered at NMIMS Mumbai here. 

Degree Offered	Master of Business Administration (MBA)
Accreditations	NAAC A++, NIRF Rank 21 in Management Category, AACSB, NBA
Course Duration	2 Years
Accepted Entrance Examinations	NMAT
Course Specialisations	Human Resources  Pharmaceutical Management SBM-TSGM Dual Degree Digital Transformation  Law  Healthcare Management  Real Estate Management  Social Entrepreneurship
Full Course Fees	INR 20,00,000-INR 24,00,000
Average Placement Package	INR 23,07,000 P.A

Rank #6 - Indian Institute of Management (IIM), Nagpur

The Indian Institute of Management (IIM), Nagpur was established in 2005 and is an eminent government institution for management and business education. The institution is accredited by the AACSB and the AICTE. The course offered here is a Post Graduate Program in Management (PGPM) of 2 years, equivalent to an MBA. The selection procedure for the course has a 360-degree approach with consideration of factors like past academic performance (PAP), work experience (WE), gender diversity (GDI), and performance in the personal interview (PI). Find further key details about the course given below. 

Degree Offered	Post Graduate Program in Management (PGPM)/ Master of Business Administration (MBA)
Accreditations	AACSB, AICTE, NIRF Rank 31 in Management Category (2024) etc.
Course Duration	2 Years
Accepted Entrance Examinations	CAT
Course Specialisations	Marketing Management   Finance & Accounting Management   Organisational Behaviour & Human Resource Management (OB & HRM) Decision Science & Information Systems  Economics Productions & Operations Management  Strategy & Entrepreneurship Management   Humanities, Arts & Social Sciences
Full Course Fees	INR 18,00,000
Average Placement Package	INR 16,74,000 P.A.

Rank #7 - K.J. Somaiya Institute of Management, Mumbai

The K. J. Somaiya Institute of Management is a management college in Mumbai that was established in 1959. It is one of the top 63 management education institutions of India as per NIRF Rankings in management category (2024) and has approvals like those from AACSB, AICTE, NBA etc and is a member of the AIU as well. An MBA course of 2 years is offered to interested management students at KJSIM. The full details about the course are provided below. 

Degree Offered	Master of Business Administration (MBA)
Accreditations	NIRF Rank 63 in Management Category (2024), AACSB, AICTE, AIU, NBA
Course Duration	2 Years
Accepted Entrance Examinations	CAT/XAT/CMAT/NMAT/GMAT
Major Course Specialisations	Marketing Management  Finance Management  Human Resource Management (HRM)  Operations Management  Data Science and Analytics Management
Minor Course Specialisations	Business Analytics Data Science Financial Services Marketing Strategy and Consulting Sustainability Operations Management People Development
Full Course Fees	INR 19,94,000
Average Placement Package	INR 12,28,000 P.A

Rank #8 - Principal L N Welingkar Institute of Management Development and Research, Mumbai

Principal L N Welingkar Institute of Management Development and Research is a private management institution in Mumbai. It was established in 1977 and has emerged as one of the best private colleges for MBA in Maharashtra. The institute is well-known in the academic and professional circles for its advanced curriculum and focus on practical learning and critical development of the student. There are a large number of specialisation choices also offered as part of the course. Find full details about the MBA program at Welingkar Institute of Management Development and Research given below. 

Degree Offered	Post Graduate Diploma in Management (PGDM)
Accreditations	NIRF Rank 84 in Management Category (2024), NBA, AICTE
Course Duration	2 Years
Accepted Entrance Examinations	CAT/XAT/CMAT/GMAT/ATMA
Course Specialisations	Marketing Management  Finance Management  Human Resources Management  Operations Management  e-Business Management  Business Design Management  Healthcare Management  Retail Management  Rural Management  Media and Entertainment Management  Research and Business Analytics
Full Course Fees	INR 17,50,000 to INR 18,50,000
Average Placement Package	INR 12,49,000 P.A

Rank #9 - National Institute of Bank Management

The National Institute of Bank Management or NIBM is a central government-affiliated college of commerce and management that was established in 1969 by the Reserve Bank of India. Ranked among the top 100 management institutions of India by NIRF in 2024, it is a prestigious centre for management education for candidates interested in commercial, banking and BFSI management sectors. The college offers a PGDM program approved by the AICTE in the specialisation area of banking and financial services. The full fee for the course is INR 16 lakhs and students can avail financial aid as needed. The placement services at NIBM are quite comprehensive and partner with giants in the banking and BFSI sector, offering fairly paid job opportunities to students. 

Find further key details about the PGDM program at NIBM enlisted below. 

Degree Offered	Post Graduate Diploma in Management (PGDM)
Accreditations	NIRF Rank 91 in Management Category (2024), AICTE
Course Duration	2 years
Accepted Entrance Examinations	CAT/XAT/GMAT/CMAT/GRE
Course Specialisations	Banking and Financial Services
Course Fees	INR 16,00,000
Average Placement Package	INR 15,50,000 P.A.

Rank #10 - Institute of Management Technology (IMT), Nagpur

The Institute of Management Technology established its Nagpur campus in 2004, and is a well-accredited school for business and management education. The major accreditations and approvals of IMT Nagpur include AICTE, NBA, AACSB, SAQS etc. It offers a PGDM course that is AICTE-approved in 6 areas of specialisations. The course includes features like hands-on learning, an updated and industry relevant curriculum, supervision and mentorship from the faculty, placement support and placements through campus selection. There are facilities for scholarships and fee waivers at IMT Nagpur to make education more accessible and affordable for all. Find more such essential details about the PGDM course at IMT Nagpur given below. 

Degree Offered	Post Graduate Diploma in Management (PGDM)
Accreditations	AICTE, NBA, AACSB, SAQS, AIU etc.
Course Duration	2 Years
Accepted Entrance Examinations	CAT/XAT/CMAT/GMAT
Course Specialisations	Economics Business Analytics & IT Management  Operations Management  Organisational Behaviour & Human Resource Management (OB & HRM) Finance Management  Marketing Management
Full Course Fees	INR 14,50,000
Average Placement Package	INR 10,81,000 P.A.

List of Top MBA Colleges in Cities of Maharashtra

Here are further details about some of the well-reputed colleges and institutes for an MBA in a few cities of Maharashtra. 

1) MBA Colleges in Mumbai

Mumbai is the centre of MBA education in Maharashtra and is home to some of the top private and public institutions for management (a few of which have been elaborated upon above). Here are a few other MBA colleges of Mumbai with best educational facilities and placement services. 

MBA College/University	Course	Accepted Entrance Exams	MBA Fees (Approx.)
D. Y. Patil University School of Management, Navi Mumbai	Master of Business Administration (MBA)	DYP-CET	INR 15,00,000
N. L. Dalmia Institute of Management Studies and Research, Mumbai	Post Graduate Diploma in Management (PGDM)	CAT/XAT/MHCET/ CMAT/ATMA/MAT/GMAT	INR 15,00,000
Jamnalal Bajaj Institute of Management Studies (JBIMS)	Master of Management Studies (MMS)	MAH-MBA CET Exam	INR 6,00,000-INR 7,00,000
ICFAI Business School Mumbai (IBS Mumbai)	Post Graduate Program in Management (PGPM)	IBSAT/CAT/GMAT/NMAT	INR 9,50,000
Amity Global Business School, Mumbai	Master of Business Administration (MBA)+Post Graduate Program in Management (PGPM)	Percentage in Graduation, English Essay Test, Personal Interview	INR 3,74,000

2) MBA Colleges in Pune

Pune is another major city of Maharashtra with top MBA colleges, from private to public colleges and B-schools. Here are a few of the top MBA colleges in Pune. 

MBA College/University	Course	Accepted Entrance Exams	MBA Fees (Approx.)
National Insurance Agency (NIA)	PGDM	CAT/CMAT	INR 10 Lakhs
Symbiosis Institute of International Business (SIIB)	MBA	SNAP	INR 17 Lakhs
Pune Business School (PBS)	PGDM	CAT/XAT/MAT/CMAT/ SNAP etc.	INR 6 Lakhs
Dr. D. Y. Patil Vidyapeeth, Pune	MBA	CAT/XAT	INR 4.5 Lakhs
Balaji Institute of Modern Management (BIMM)	MBA	CTA/XAT/MAT/CMAT/ MAH etc.	INR 11 Lakhs

3) MBA Colleges in Nagpur 

Find important details about the MBA colleges of Nagpur given below. An interested management candidate has the option of taking up an MBA from a private or top public institute as well. 

MBA College/University	Course	Accepted Entrance Exams	MBA Fees (Approx.)
Datta Meghe Institute of Management Studies, Nagpur	Master of Business Administration (MBA)	CAT/CMAT/CET	INR 1,35,334
Department of Business Management, Nagpur University	Master of Business Administration (MBA)	CET/CMAT/MAT/MAH MBA/MMS CET	INR 47,424
Dr. Ambedkar Institute of Management Studies and Research	Master of Business Administration (MBA)	CAT/CMAT	INR 99,425
GS College of Commerce and Economics	Master of Business Administration (MBA)	MAT/XAT/GMAT/CAT/ CMAT/ATMA/MAH CET	INR 1,62,000
Central Institute of Business Management Research and Development (CIBMRD Nagpur)	Master of Business Administration (MBA)	MAH-MBA/MMS-CET/CAT/JMET/MAT/XAT/ ATMA	INR 1,18,500

4) MBA Colleges in Sangli

Sangli is located in southern Maharashtra and is home to a number of management institutions providing quality MBA programs with all major features and facilities. Here are a few of the top management colleges offering an MBA in Sangli. 

MBA College/University	Course	Accepted Entrance Exams	MBA Fees (Approx.)
Bharathi Vidyapeeth	Master of Business Administration (MBA)	BMAT	INR 1,70,000
V. P. Institute of Management Studies and Research, Sangli	Master of Business Administration (MBA)	Bachelor’s and Further Screening	INR 1,01,377
Venkateshwara Institute of Management	Master of Business Administration (MBA)	DTE-CET/CAT/MAT/ATMA/CMAT/XAT/ GMAT	INR 65,000
Abasaheb Garware Institute of Management Studies (AGIMS), Sangli	Master of Business Administration (MBA)	CAT/GMAT/MAT/ATMA/XAT/CMAT	INR 90,500
Chintamanrao Institute Of Management And Research (CIMDR), Sangli	Master of Business Administration (MBA)	MAT/XAT/GMAT/ CAT/CMAT/ATMA/MAH CET	INR 1,15,000

RoI of MBA Colleges in Maharashtra

The RoI of an MBA reflects how fast the investments into the course vis. a. vis. finances, time and efforts can be regained in terms of the placement after course completion. One can find the RoI of an MBA college by calculating the ratio of the average CTC offered during campus placements to the full fee for the MBA program.

A good placement package in a reputed firm in a meaningful job role reflects an excellent RoI after completing an MBA from a particular college. 

Is MBA Worth It?	Is Online MBA Worth It?
How to Calculate Return on Investment?

Most of the MBA colleges of Maharashtra have industry linkages with top MNCs and companies in addition to dedicated placement cells that bring the best career opportunities with excellent packages to MBA graduates. Thus, most MBA colleges of Maharashtra provide a satisfactory RoI to students. Here is a list of the top 10 MBA colleges in Maharashtra along with their full fee for the course and the average placement packages offered during campus selections.

College/Institute	Full Course Fees	Average Placement Package
National Institute of Industrial Engineering, Mumbai	INR 13,00,000-INR 14,70,000	INR 31,00,000 P.A
Indian Institute of Technology (IIT), Bombay	INR 2,00,000-INR 7,00,000	INR 29,00,000 P.A
Symbiosis Institute of Business Management (SIBM), Pune	INR 21 Lakhs	INR 18 LPA
S. P. Jain Institute of Management & Research, Mumbai	INR 20,00,000-INR 29,00,000	INR 33,00,000 P.A
SVKM's Narsee Monjee Institute of Management Studies, Mumbai	INR 20,00,000-INR 24,00,000	INR 23,07,000 P.A
Indian Institute of Management (IIM), Nagpur	INR 18,00,000	INR 16,74,000 P.A.
K.J. Somaiya Institute of Management, Mumbai	INR 20,00,000	INR 12,28,000 P.A
Principal L N Welingkar Institute of Management Development and Research, Mumbai	INR 20,00,000	INR 12,49,000 P.A
National Institute of Bank Management	INR 16,00,000	INR 15,50,000 P.A.
Institute of Management Technology (IMT), Nagpur	INR 14,50,000	INR 10,81,000 P.A.

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Top Recruiters

There are many sectors in which an MBA graduate can explore professional opportunities. Depending upon one’s skills, aptitude and area of specialisation during the course, an MBA graduate can apply to jobs in various public and private sectors like 

• Financial Firms 
• Banking Sector 
• Marketing & Advertising 
• Research & Consultancy 
• Entrepreneurship
• International Business 
• Taxation 
• IT and ITES Sector 
• Data analysis etc. 

Here is a list of some of the top firms that partner with the renowned MBA colleges of Maharashtra to offer placements to graduates completing the degree. 

Larsen and Toubro	Accenture
Bosch	Deloitte
Aditya Birla Group	Reliance
Amazon	KPMG
IBM	Bajaj Allianz General
Capgemini	Google
ICICI Bank	Tata AIG
Reserve Bank of India	JP Morgan Chase & Co
Wipro	Marico
Siemens	Goldman Sachs

Online MBA Colleges in Maharashtra

In addition to completing an MBA in the regular mode, management aspirants also have the option of pursuing an MBA in the fully online-learning (OL) mode now, with the approval from the UGC-DEB. As per these guidelines a duly accredited MBA from an approved university/college will be considered equivalent to a regular MBA in both academic and professional settings. 

So, students aspiring to take up an MBA now have the benefit of being able to pursue the course from not only MBA colleges in Maharashtra but from any highly accredited college from anywhere in India, with the convenience of learning from home. 

Here are a few of the top accredited institutions offering an MBA in the fully online mode in India. 

University	Course	Mode
Datta Meghe Online	Master of Business Administration (MBA)	Online Learning Mode (OL)
Symbiosis Centre for Distance Learning (SCDL)	Master of Business Administration (MBA)	Open Distance Learning (ODL)
Amity University Online	Master of Business Administration (MBA)	Online Learning Mode (OL)
ICFAI Online	Master of Business Administration (MBA)	Online Learning Mode (OL)
Dr. D. Y. Patil Vidyapeeth Online	Master of Business Administration (MBA)	Online Learning Mode (OL)

Other Online MBA Colleges

Here is a list of some online MBA colleges in different regions. You can check out this list & choose the best one near your residential/work location.

MBA Colleges In Pune	MBA Colleges In Chennai
MBA Colleges In Bangalore	MBA Colleges In Hyderabad
MBA Colleges In Lucknow	MBA Colleges In Kolkata
MBA Colleges In India	MBA Colleges In Dehradun
MBA Colleges In Delhi	MBA Colleges In Varanasi
MBA Colleges In Gurgaon	MBA Colleges In Bhubaneswar
MBA Colleges In Jaipur	MBA Colleges In Patna
Government MBA Colleges In India	MBA Colleges In Mumbai
MBA Colleges In Ahmedabad	MBA Colleges In Kerala

Best Paid MBA Online Specialization

MBA Finance Online	MBA Marketing Online
MBA HR Online	MBA Operations Online
MBA IT Online	MBA Business Analytics Online
MBA International Business Online	MBA Data Science Online
MBA Project Management Online	MBA Digital Marketing Online
MBA Banking and Finance Online	MBA General Online