There are more than 120 colleges in Mumbai offering MBA; out of these, 110+ colleges are private and 10 are public colleges. Some of the famous management institutes in Mumbai include Narsee Monjee Institute of Management Studies (NMIMS), SP Jain Institute of Management and Research, TISS, JBIMS and several others. Colleges in Mumbai offer an MBA course in multiple fields, such as Marketing, Finance, Operations Management and Human Resource Management. To get admission to one of the top colleges in Mumbai, candidates must have valid scores from entrance exams like CMAT, CAT, MAT, XAT and MAH CET. To find out more information on top 7 colleges in Mumbai with 20+ LPA and are not IIMs, make sure you keep reading the article.
Take a look at the top 7 colleges in Mumbai which offer 20+ LPA packages and are not IIMs.
JBIMS, Mumbai, offers a Master’s in Management degree to students, which equips them with the skills to excel in leadership roles across various domains. Also known as the CEO Factory, JBIMS was established in the 1960s by the University of Mumbai.
Jamnalal Bajaj Institute of Management Studies offers PG, part-time, PhD and several other courses to students. These courses are offered across various streams, including Finance and Management.
Programs | MMS (Masters in Management Studies) |
Specialisations Offered | Marketing, Finance, Operations, HR, Supply Chain Management, Systems and Digital Business |
Total Fees | Rs. 6-7 Lakhs |
Highest Package | Rs. 42 LPA |
Average Package | Rs. 27 LPA |
Top Recruiters | JP Morgan, Accenture, Deloitte, etc. |
NMIMS offers MBA programs through its School of Business Management at its Mumbai campus and other locations, with admission based on NMAT scores. NMIMS is well-known for its flagship MBA program and its various specialisations.
Programs | MBA |
Specialisations Offered | Business Analytics, International Business, Operations, HR, Marketing and Finance |
Total Fees | Rs. 21 Lakhs |
Highest Package | Rs. 35 LPA |
Average Package | Rs. 20 LPA |
Top Recruiters | Google, Amazon, KPMG, etc. |
Tata Institute of Social Sciences, TISS does not offer a standard MBA program; instead, it offers management-focused programs such as MA in Human Resource Management and Labour Relations. Graduates of the HRM & LR program are well-regarded in the global industry, holding leadership positions across various sectors.
Programs | Master of Arts (Human Resources Management) |
Specialisations Offered | Social Entrepreneurship, Data Analysis, Retail Management and Leadership, Human Resource Management & Labour Relations |
Total Fees | Rs. 1.85 Lakhs |
Highest Package | Rs. 42 LPA |
Average Package | Rs. 22.28 LPA |
Top Recruiters | Mahindra, TCS and Reckitt. etc. |
The KJ Somaiya Institute of Management in Mumbai offers an MBA program and is well-known for offering diverse specialisations such as Human Resources, Financial Services and International Business. To get admission, students must have valid scores in either of the entrance exams, CAT, XAT, GMAT, NMAT or CMAT.
Programs | MBA |
Specialisations Offered | HR, Operations, Marketing, Finance, Data Analytics and Business Economics |
Total Fees | Rs. 22.23 Lakhs |
Highest Package | Rs. 23.75 LPA |
Average Package | Rs. 12.79 LPA |
Top Recruiters | Infosys, EY, Cognizant, etc. |
BITS School of Management (BITSoM) offers a two-year, full-time residential MBA program with a focus on future-ready skills, leadership and a transformative learning experience. The college accepts entrance exam scores of CAT, GRE and GMAT, though the admission process considers a holistic profile.
Programs | MBA |
Specialisations Offered | Marketing and Consumer Insights, E-Commerce and Digital Leadership, Leadership and Strategy, Finance and Investments |
Total Fees | Rs. 22.50 Lakhs |
Highest Package | Rs. 50 LPA |
Average Package | Rs. 23.41 LPA |
Top Recruiters | Goldman Sachs, Microsoft, etc. |
The IIT Bombay - Shailesh J. Mehta School of Management (SJMSOM) offers students a 2-year full-time MBA program, which requires a Bachelor’s degree and a valid CAT score for admission. Admission will be based on the CAT percentile, work experience, academic background and other factors.
Programs | MBA |
Specialisations Offered | Business Analytics, Strategy and Consulting, Leadership and Innovation, Technology Management, HR, Entrepreneurship, Marketing, Operations, Finance and General Management |
Total Fees | Rs. 10.50 Lakhs |
Highest Package | Rs. 50 LPA |
Average Package | Rs. 27 LPA |
Top Recruiters | PWC, McKinsey, Google, etc. |
S.P. Jain Institute of Management and Research (SPJIMR) is a well-known school of management in Mumbai. The institute was established in 1981. SPJIMR is a part of the Bharatiya Vidya Bhavan and functions as an autonomous institute.
Programs | PGDM (BM) |
Specialisations Offered | Operations, Marketing, Information Management, Supply Chain (Global) and Finance |
Total Fees | Rs. 20 Lakhs |
Highest Package | Rs. 45 LPA |
Average Package | RS. 22 LPA |
Top Recruiters | Microsoft, Accenture Strategy, McKinsey, Bain, Google, etc. |
The following reasons mention why these non-IIM Mumbai colleges attract 20+ LPA offers.
Location Advantage: Studying in India’s financial hub, students get early exposure through corporate projects and internships.
Strong Alumni Base: Colleges with decades of corporate connections ensure consistent recruiter loyalty.
Sectoral Strength: Domains like Consulting, BFSI and Tech are known for dominating placements; these sectors offer high CTC offers.
Diversity of Talent: Lastly, these institutes attract students with backgrounds in engineering, commerce and liberal arts.
Frequently Asked Questions (FAQs)
Yes, KJ Somaiya Institutions are generally considered good, especially for students with a median score in entrance exams like CAT or GMAT.
Some of the top colleges in Mumbai include IIT Bombay for engineering, SP Jain Institute of Management and Research (SPJIMR), Jamnalal Bajaj Institute of Management Studies (JBIMS) for management, Tata Institute of Social Sciences (TISS) for social sciences and St. Xavier’s college for general arts.
For the highest placements in Mumbai, one can consider the Indian Institute of Technology Bombay (IIT Bombay) and the Indian Institute of Management, Mumbai (IIM Mumbai) for engineering and management, respectively. These institutes have often been listed with high average package ranging between Rs. 55 LPA to over Rs. 34 LPA.