Top MBA Colleges in Mumbai 2023

Students who want to be at the forefront of the economic growth of India and prove that political and economic revolutions begin in a creative and well-read brain must pursue MBA from the world-class city of Mumbai. Mumbai, the financial and industrial capital of India, is the ideal destination for any MBA aspirant as it will help you to tap on some of the most amazing opportunities to work with the leading global corporations.

Social networking is very important in the career of a business and management student and to make things better, Mumbai offers great opportunities to branch out socially and network with renowned people from your industry. Those students who opt for MBA in the most fast-paced city in India, Mumbai, are aware of their fanaticism for foundations of business, finance, sales, marketing etc.

Mumbai is a place of the major hustle and bustle and at the brim of it are the prestigious business schools that teach MBA students to apply their skills and knowledge into the fields of media, advertising and digital marketing. Here we have listed the top MBA colleges in Mumbai to help you make an informed decision while selecting one for your further education.

Top MBA Colleges in Mumbai Based on NIRF Ranking

NIRF or better known as, National Institutional Ranking Framework, is a government agency whose aim is to rank various educational institutions from various fields. NIRF rankings help candidates from various streams to find out which college/university/institute fits their needs most appropriately. There is a difference in being accredited by a premier agency and being ranked by the premier agency, i.e. accreditation is a five-year-long evaluation while the ranking is a one-year assessment. Another point of difference between these two is that there is an absolute gradation involved in accreditation while the ranking is relative in nature.

Top MBA Colleges in Mumbai (Careers360 Ranking)

The motto of Careers360 is ‘Career is Life’ which is empowering in itself. A curated team of experts rank the wide variety of institutes from myriad streams based on factors like student-teacher interaction, faculty’s experience, placement etc. Also, the team answers to all queries of a wide community of students from all over India. Careers360 deals with about 500 plus colleges and 500 plus entrance exams across different regions of the country.

Top MBA Colleges in Mumbai (Based on Placements)

Searching for the ‘most suitable’ job for you requires thorough research and plenty of interviews. However, MBA colleges in Mumbai offer excellent placement opportunities to the students in some of the biggest names in the corporate sector. Students must consider the placement track of a college before selecting it for pursuing MBA as this decision will have a great impact on your future. Here are the top MBA colleges in Mumbai based on their placement performance: -  

Top MBA Colleges in Mumbai (Based on placement package)

Securing the desired package from the dream company is a cherry on the icing of the struggles faced by nearly all MBA students. In their difficult path to attain the best exposure in management from the very esteemed management/business schools in Mumbai, there is a thing that keeps every student motivated, that is, a handsome annual pay package. If you want to find out which MBA college in Mumbai will offer you the best possible job with the highest salary packages, then you must go through the list below.

Top MBA Colleges in Mumbai (Based on Annual Fee)

The bitter truth is that education does not come at free of cost. To learn from top-notch faculty members of top-notch colleges, you need to pay a fee. There are hardly any full scholarships available, and even if they are of avail, there is an extensive list of competition to get that financial grant or financial aid. Now, affordability decides which college will shape your future. Hence, we have listed down the top MBA colleges in Mumbai on the basis of their average course fee.

Entrance Exams for Admission in MBA in Mumbai –

CAT: - CAT or Common Aptitude Test is one of the most well-known entrance tests conducted for aspirants of management and business studies. Around three lakh plus students apply for each seat which makes the race very tough. Indian Institute of Technology institutes, too, accept CAT scores for their programs on management. Top MBA Colleges in Mumbai Based on Acceptance of CAT Scores.

· Shailesh J. Mehta School of Management, IIT Bombay

· National Institute of Industrial Engineering-NITIE

· SP Jain Institute of Management and Research-SPJIMR

· Amity Global Business School

· IIT Bombay

MAHCET: - Maharashtra Common Entrance Test offers admission to management schools in Maharashtra only. Maharashtra’s Directorate of Technical Education conducts this exam. Candidates who are appearing for this exam are tested on the following - Logical and Abstract Reasoning, Verbal and Reading skills along with Quantitative Aptitude. Top MBA Colleges in Mumbai Based on Acceptance of CET Scores: -

· Prin. L.N. Welingkar Institute of Management Development and Research-We School

· Lala Lajpat Rai Institute of Management-LLIM

·  Xavier Institute of Management and Research-XIMR

·  N.L. Dalmia Institute of Management Studies and Research

· Jamnalal Bajaj Institute of Management Studies

Other than these two entrance examinations, several institutes accept scores for XAT, NMAT, MAT, and CMAT as well. Students must check with respective MBA colleges in Mumbai regarding the entrance exam scores accepted by them.

Most popular MBA specialisations in Mumbai

There are approximately 235 MBA colleges in Mumbai. They offer full-time MBA courses, part-time MBA courses, and online MBA courses. There are several domains of specialisation that can be chosen by the candidate. Some of the most popular and sought-after MBA specialisations in Mumbai are mentioned below.

Top MBA Colleges in Mumbai offering specialisation in Marketing

· Shailesh J. Mehta School of Management, IIT Bombay (SJMSOM)

·  S.P. Jain Global School of Management

· Narsee Monjee Institute of Management Studies

· ICFAI Business School

Top MBA Colleges in Mumbai offering specialisation in Human Resources Management

· Jamnalal Bajaj Institute of Management Studies

· Narsee Monjee Institute of Management Studies

· Prin. L.N. Welingkar Institute of Management Development and Research

· K. J. Somaiya Institute of Management Studies and Research

Top MBA Colleges in Mumbai offering specialisation in finance

· Jamnalal Bajaj Institute of Management Studies

· SPJIMR

· Shailesh J. Mehta School of Management, IIT Bombay

· Narsee Monjee Institute of Management Studies

Admission Process for the best MBA Colleges in Mumbai

The admission process of an MBA college in Mumbai and the eligibility criteria for the same varies from one institute to another. On the one hand, SPJIMR accepts XAT and CAT scores, and on the other hand, NMIMS accepts NMAT scores. While NITIE accepts the scores obtained in CAT exam only, the institute called SIMSREE accepts scores secured in CMAT and MAT exams. However, there are few standards, mandatory and fundamental guidelines that every applicant must fulfil while seeking admission into MBA.

· If one wants to get admitted into a full-time MBA course, then the candidate must have completed under-graduation in any discipline from a recognised university.

· Candidates must have obtained a minimum of 50 percent marks during their graduation degree exam.

· There is a relaxation of a maximum of 5 percent on the marks obtained in UG for students belonging to reserved categories.

· Undergraduate students who are in their final year of the degree can also apply for MBA, but their admission will be subject to scoring the minimum required marks in the final year exams.

How to select the top MBA colleges in Mumbai?

There is universal advice meant to be paid heed to by all MBA aspirants of India, and that is - consider Mumbai as your primary option. You may ask why Mumbai should be preferred. We are here to give you a few factors which prove that Mumbai is a good option to pursue an MBA:-

· Reputation cannot be compromised with - Although Mumbai does not have any IIMs, the city compensates that with the containment of some of the most well-established business schools of the country that are affordable and yet imparts high-end education for students with different social-economic backgrounds.

· Mumbai is the business hub of India - There is no better city than Mumbai for MBA graduates because the city lives and dwells in empowering Multinational Corporations and Entrepreneurs.

· Good infrastructure - If you want to move to a city where commutation is not an issue and you have a job in one area while you live in another, then Mumbai is the one for you. The city offers plenty of exposure to social life with restaurants and nightclubs along with the rigorous academic exposure offered by the top MBA colleges in Mumbai.

Frequently Asked Questions (FAQs)

1. What are the career prospects after an MBA?

There is a lot of scope after completion of an MBA from a top college in Mumbai. Some of the job profiles include sales analyst, management consultant, HR/Risk/Insurance Manager, financial advisor or even an investment banker.

2. Has pursuing an MBA course lost its value?

Though it has come to notice that the number of students aspiring for an MBA degree has accentuated to a new level and that has led to a bit of devaluation of the degree, but, it still happens to be something that recruiters want in resumes.

3. Which MBA college in Mumbai offers the best curriculum in finance?

The first option that you should prioritise is the Jamnalal Bajaj Institute of Management Studies.

4. What are the fees of the CAT entrance exam?

It costs about 1900 rupees for students who belong to the General and OBC category. It costs 950 rupees for students who belong to SC or ST or PWD categories.

5. Does SP Jain Institute in Mumbai offer MBA in Human Resources?

No, it does not. However, it does offer an MBA in Marketing and Finance.

6. Can an MBA be pursued after a B.Com degree?

Yes, you only need to have a bachelor’s degree in any stream to be eligible to pursue an MBA.

7. Which are the top two private MBA colleges in Mumbai?

JBIMS and Amity Global Business School are widely regarded as the leading private MBA colleges in Mumbai.

8. Which one is better - ISB or IIM?

Both offer world-class education. The only problem with ISB is that the college prescribes a mandatory five-year work experience from the candidates before considering their application for the admission.

9. Which field of specialisation in MBA offers the highest annual salary package?

While all MBA specialisations offer a rewarding career, but specifically an MBA in Business Analytics and MBA in Marketing is the highest paying specialisations.

10. Can I get a scholarship for pursuing an MBA? If yes, then how?

There are two simple yet hard ways to obtain a scholarship for pursuing an MBA, which are: great secure marks in the entrance and apply for admission after having gained plenty of experience in research.