The MBA program covers accounting, economics, marketing, finance, strategy, frameworks, human resources, organizational behavior, leadership, and information technology, among other topics related to management.

The program is meant to fortify the theoretical underpinnings, offer hands-on experiences (research, projects, workshops, internships), develop hard and soft skills, create a window of employment opportunities, and assist you in starting your own business.

It is India’s educational and financial hub, which is why Mumbai has several MBA top colleges that offer full-time, part-time, online, and distance-learning programs.

These colleges provide MBA and PGDM programmes in various specialisations which assist students in developing key skills required for an outstanding professional career.

As important as doing an MBA itself is choosing the right institution. In addition to being associated with you forever as a brand, it allows you to compete with like-minded people, it allows you to learn from top professors, and lastly, top institutions attract the best placements, which can be an advantage.

Why choose MBA Colleges in Mumbai?

Mumbai, the capital of Maharashtra and a renowned hub for higher education, offers numerous opportunities for learning, career advancement, and personal growth.

The city is home to leading international companies, which actively recruit candidates from MBA top 10 colleges in Mumbai due to its strategic location and cost-effectiveness.

Pursuing an MBA in Mumbai is highly desirable for many reasons. The benefits include attractive salary packages, access to excellent educational facilities, and exposure to a vibrant business environment.

The city’s educational landscape boasts a plethora of affordable yet MBA top 10 colleges in Mumbai, making it an ideal destination for MBA aspirants. With its blend of academic excellence and industry connectivity, Mumbai provides a rich environment for students to develop their skills and network with professionals.

This dynamic city continues to be a sought-after destination for those seeking admission into an MBA program, offering a pathway to successful careers in the competitive global market.

Although Mumbai does not have an IIM, it houses many top-notch, affordable MBA colleges that have a reputation for providing world-class education.

World-class corporate headquarters, SEBI, and the Bombay Stock Exchange are located in Mumbai. Giants in business choose to make new investments in this city. It is an environment that fosters entrepreneurship and various businesses.

A successful career after graduation is made possible by the high employment rate this produces. This area is home to over 175 Fortune 500 businesses as well as a number of start-ups in industries like advertising and cars.

In spite of the fact that Mumbai is an overcrowded city, there are accommodation options for everyone. Mumbai has an effervescent infrastructure with vibrant nightlife, chic malls, luxurious restaurants, and a lot more.

Furthermore, it is regarded as one of the safest Indian cities, with well-organized public transportation. Connectivity is the key feature of this centrally located city.

The advantage of this location allows you to stay connected with your home city very easily if you choose to relocate to Mumbai for two years while pursuing your MBA.

Mumbai’s high frequency of trains, metros, buses, taxis, autos, and flights allows you to commute within and outside of the city at ease.

In order to succeed in an MBA program and career, social networking plays a vital role. Mumbai provides many opportunities to connect with influential and renowned people and broaden your social network.

It is the hustle, bustle, and brim of Mumbai’s prestigious MBA Colleges that teach students how to use the latest media and advertising to their advantage for career success.

Scores from CAT, NMAT, CMAT, XAT, ATMA, MHCET, GMAT are accepted by Mumbai MBA colleges. Scores from CAT, NMAT, CMAT, XAT are also accepted.

MBA Top 10 Colleges in Mumbai

1. Jamnalal Bajaj Institute of Management Studies (JBIMS)

Established in 1965 by the University of Mumbai, JBIMS has paved the way for management education and is consistently recognized as one of the MBA top 10 colleges in Mumbai.

With over 52 years of experience, it was the first institute to offer a full-time 2-year Masters in Management Studies (MMS), under the guidance of the late Dr. K.S. Basu. As one of India’s oldest MBA Colleges, JBIMS has earned its reputation as the preferred campus for renowned organizations

The institute boasts a team of dedicated faculty members covering core management disciplines and functional areas, as well as a panel of esteemed management experts and senior practicing managers from various fields.

Delivering both full-time and part-time programs in management, JBIMS enjoys the advantage of being located near India’s commercial hub, fostering strong connections with corporate leaders, esteemed alumni, and a diverse group of visiting faculty.

This exposure to industry experts has greatly benefited students over the years, enabling them to gain insights into managerial practices and develop skills that align with industry expectations.

Fees: 6 lakh
Average Package: 28.02LPA
Batch Size: 150 Students

2. SP Jain Institute of Management & Research (SPJIMR)

SP Jain Institute of Management & Research (SPJIMR) has established itself as a leading institution in the field of management education since its inception in 1981.

The private institution secured a spot among India’s top 10 MBA colleges in 1994-1995 and has consistently maintained this prestigious ranking. SPJIMR is celebrated for its innovative teaching methods, cutting-edge programs, and emphasis on values.

Its prime location in Mumbai, the financial capital of India, provides students with invaluable industry exposure. As part of Bharatiya Vidya Bhavan, SPJIMR is recognized as one of the MBA top 10 colleges in Mumbai.

Despite being part of this esteemed organization, SPJIMR operates independently with a strong entrepreneurial spirit.

Its consistent excellence was recently highlighted by its impressive World Rank #40 and India Rank #1 in the FT Global Masters in Management (MIM) Rankings 2023, surpassing other renowned institutions like IIM Ahmedabad, Calcutta, and Lucknow.

This achievement reaffirms SPJIMR’s position as one of the best management institutes in India.

Fees: 24 lakh
Average Package: 33 LPA
Batch Size: 300 Students

3. IIM Mumbai

Established in 1963 with the assistance of the United Nations Development Programme (UNDP) and the International Labor Organization (ILO), IIM Mumbai, formerly known as NITIE, has consistently ranked among tmba top 10 colleges in Mumbai.

In the 2022 National Institutional Ranking Framework (NIRF) rankings for Management Institutes, it holds the 9th spot.

Dedicated to producing skilled professionals in various areas such as Operations Management, Analytics, Finance, Marketing, Project Management, HR, Information Technology, and Sustainability Management, IIM Mumbai proudly offers a diverse curriculum.


Its prestigious Fellow Program was initiated in 1980 and has since granted almost 50 doctoral degrees to its alumni who have gone on to excel in both academia and business.

Currently, there are approximately 60 candidates registered for the program with an average of four fellowships awarded annually. The interdisciplinary nature of the course covers all aspects of environmental management, ergonomics, and management.

Fees: 21 lakh
Average Package: 27.75 LPA
Batch Size: 407 Students


SJMSOM, part of the Indian Institute of Technology Bombay, is a prestigious MBA Colleges established in 1995. Formerly known as SOM, it was renamed in 2000 after its distinguished alumnus, Dr. Shailesh J. Mehta.

Through thorough study and instruction, SJMSOM focuses on important subjects like operations, strategy, technology management, marketing, entrepreneurship, leadership, economics, and organizational behavior.

The institution offers a comprehensive range of programs, including a full-time Master of Business Administration (MBA) degree course, a doctoral program, and Management Development Programs (MDP) tailored for company representatives.

These programs are designed to equip students with the skills and knowledge required to excel in today’s dynamic business environment.

With its emphasis on innovation, practical experience, and academic excellence, SJMSOM provides a robust platform for aspiring business leaders.

Its strong industry connections and commitment to cutting-edge research ensure that graduates are well-prepared to meet the challenges of the global marketplace.

Fees: 14 lakh
Average Package: 28.88 LPA
Batch Size: 120 Students

5. Narsee Monjee Institute of Management Studies (NMIMS)

NMIMS, established in 1981 under Mumbai University, achieved the esteemed Deemed University status in 2003 from the Government of India. In just 36 years, NMIMS has become a premier educational institution for MBA aspirants, gaining widespread recognition.

It is listed among the MBA top 10 colleges in Mumbai and holds an A grade rating with an impressive 3.59 CGPA accreditation from NAAC.

Located in the heart of the financial capital, NMIMS has forged valuable connections with various industries, prestigious multinational companies, and distinguished alumni.

This strategic location and its strong industry links provide students with unparalleled opportunities for internships, placements, and networking.

NMIMS offers a diverse range of programs and emphasizes a holistic approach to education, combining academic rigor with practical experience.

Its commitment to excellence, innovation, and industry relevance ensures that graduates are well-prepared to become successful professionals and leaders in their fields, continuing the institution’s legacy of distinction in education.

Fees: 24 lakh
Average Package: 26.63 LPA
Batch Size: 600 Students

6. Tata Institute of Social Sciences, Mumbai (TISS)

TISS, a prestigious institute known for its dedication to promoting social justice and human rights, offers the HRM program to equip students with the skills necessary to address various HR challenges.

This program not only provides a comprehensive understanding of strategic insights, but also prepares students for a collaborative professional life.

Established in 1936 as the Sir Dorabji Tata Graduate School of Social Work by the Sir Dorabji Tata Trust, TISS is Asia’s oldest university for social work education.

Located in Mumbai, India, it currently has multiple campuses and was officially renamed the Tata Institute of Social Sciences in 1944.

TISS in Mumbai is known for its academic programs which concentrate on the social sciences.

It presents diverse doctoral degrees in subjects such as Habitat Studies, Management and Labour Studies, Disaster Studies, Development Studies, Education, Gender Studies, Health Studies, Law, Media and Cultural Studies, Public Policy,Rural Development and Social Work.

Although TISS does not provide an MBA program, it does offer a comparable option in Management which includes an MA in Human Resource Management and Labour Relations, Social Entrepreneurship, Globalisation,and Labor.

As a result,TISS Mumbai is regarded as one of the leading management colleges for HR in Mumbai.

Fees: 1.85 lakh
Average Package: 27.22 LPA
Batch Size: 68 Students

7. Welingkar Institute of Management Development

WeSchool, a highly prestigious institution, has consistently ranked within the top 30 educational establishments in the country.

Established in 1977, it is affiliated with the renowned Shikshana Prasaraka Mandali, which oversees a total of 43 colleges. The institute is committed to equipping students with essential skills and knowledge to excel in today’s ever-changing business landscape.

WeSchool offers a wide range of programs, blending academic rigor with industry relevance. Its innovative approach to education, combined with state-of-the-art facilities and experienced faculty, ensures a holistic learning experience for its students.

The institute’s impressive accolades include the recent “AICTE-CII National Award for Best College for Industry College Linkage 2015,” highlighting its strong industry connections and commitment to practical learning.

With a focus on fostering creativity, leadership, and a global mindset, WeSchool prepares its graduates to become successful professionals and leaders in their respective fields, continuing its legacy of excellence in education.

Fees: 14 lakh
Average Package: 12.94 LPA
Batch Size: 600 Students

8. K.J. Somaiya Institute of Management

Established in 1981 as part of Somaiya Vidyavihar, K. J. Somaiya Institute of Management Studies and Research is a private-run college that has emerged as one of the MBA top 10 colleges in Mumbai.

The institute boasts exceptional managers who hold strategic positions globally across various domains. The medium-sized and beautiful campus spans 60 acres, adorned with lush greenery, trees, gardens and top-notch infrastructure.

With its establishment, the goal was to provide cutting-edge education in management and allied areas. It has consistently been ranked among the top 25 management institutes in India and the MBA top 10 colleges in Mumbai.

The institute offers a range of programs including full-time, part-time and executive courses in Business Management, Masters in Computer Applications and Doctoral Programs.

Accredited by AICTE and NBA, they have also received certification from Bureau Veritas. KJ Somaiya offers specialized MBA, Executive MBA, MCA and Ph.D. programs with a highly-qualified faculty count of 131 members who are renowned experts in their fields.

Additionally, the institute conducts customized Management Development Programmes and Faculty Development Programmes.

Fees: 16-17 lakh
Average Package: 12.32 LPA
Batch Size: 673 Students

9. SDA Bocconi Asia Center

SDA Bocconi Asia Center is committed to advancing and spreading cutting-edge business knowledge, in support of personal and organizational growth. This mission is carried out through the unique approach of leveraging SDA Bocconi School of Management’s industry-focused research and teaching.

Through this, we are able to extend the expertise and excellence of SDA Bocconi School of Management in fields such as design, branding innovation, and entrepreneurship, with a global reach.

Our diverse offerings, including MBA Programs, Executive and Specialized Masters, Executive Programs, Custom Programs, Applied Research, Research Labs and Knowledge Centers all contribute towards empowering professionals worldwide from various industries.

Remarkably, SDA Bocconi is one of the MBA top 10 colleges in Mumbai and is recognized as one of the best in the world because to its triple accreditation (EQUIS, AMBA, and AACSB).

Fees: ₹19.4 Lakhs
Average Package: INR 14.30 LPA (2023)
Batch Size: 320

10. SIMSREE Mumbai

Established in 1983, Sydenham Institute of Management Studies, Research, and Entrepreneurship Education (SIMSREE) continues the prestigious Sydenham legacy of providing MBA top 10 colleges in Mumbai.

Its goal is to develop exceptional global leaders equipped to thrive in a dynamic business environment. Situated in Churchgate, Mumbai, the financial hub of India, SIMSREE is highly regarded as one of the leading management institutes in the country.

The institute offers a range of programs, including the Master of Management Studies (MMS), Master’s Degree in Financial Management (MFM), and Master’s Degree in Marketing Management (MMM). SIMSREE’s commitment to academic excellence, strong corporate interface, and notable alumni base contribute to its esteemed reputation.

The institute boasts an impressive return on investment (RoI), attracting students from across the nation.

With a focus on holistic and enriching learning experiences, SIMSREE ensures its graduates are well-prepared to meet the challenges of the global business landscape, making it one of the MBA top 10 colleges in Mumbai.

Fees: 1.34 lakh
Average Package: 12.30 LPA
Batch Size: 179 Students

Popular Entrance Examinations for Mumbai’s Top MBA Colleges

21 IIMs and 1000+ MBA Colleges in India participate in the Common Admission Test (CAT). The exam syllabus is divided into three sections – Verbal Ability and Reading Comprehension, Data Interpretation and Logical Reasoning, and Quantitative Aptitude.

Both the offline (paper-based) and online (computer-based) versions of the MAT (Management Aptitude Test) are available. Language Comprehension, Mathematical Skills, Data Analysis & Sufficiency, Intelligence & Critical Reasoning, and Indian & Global Environment make up the five sections of the test.

In the MAH MBA CET (Maharashtra Common Entrance Test), multiple-choice questions (MCQs) are asked. On the test, candidates are assessed in Logical Reasoning, Abstract Reasoning, Quantitative Aptitude, Verbal Ability/Reading Comprehension, and Data Interpretation.

Top MBA Colleges in Mumbai Eligibility Criteria

  • However, most MBA colleges shortlist applicants based on the following basic eligibility criteria:
  • An applicant should possess a bachelor’s degree or equivalent qualification from a recognized university in any discipline.
  • Most MBA colleges also require a valid score on MBA entrance examinations such as CAT, XAT, MAHCET, CMAT, etc.
  • The qualifying exam requires at least a 50% aggregate score or equivalent CGPA.
  • A minimum of 45% marks or equivalent CGPA is required for reserved category candidates to be eligible for admission to MBA colleges in Mumbai.
  • Check out the following list of MBA top 10 colleges in Mumbai with low fees to fulfill your dream of studying MBA in Mumbai!

How to Choose a Mumbai MBA College

Before you begin your MBA journey in Mumbai, you might want to consider a few things when looking for the best MBA colleges in Mumbai. A prospective MBA student surely looks to make more money after MBA.

Mumbai never disappoints and offers appropriate management courses for every situation. Mumbai offers MBA courses that:

  • Cost-effective
  • Access the global network more easily
  • Encourages entrepreneurship
  • Develops an individual’s personality
  • Expands one’s professional network
  • Provide part-time and short-term executive courses

Top Reasons for Enrolling in Mumbai’s MBA Program

There has been a long history of Mumbai being a hub of technology, creativity, and education, attracting many students and working professionals to further their education and launch their careers.

There are a wide variety of industries in Mumbai, including retail, manufacturing, information technology, banking and real estate. Let’s take a look at the top reasons why Mumbai is a great city for management education.

A better opportunity because Mumbai is India’s financial and commercial capital. Besides its reputation for business and trade, Mumbai offers more opportunities for placements, as well as internships and industrial tours that provide students with valuable hands-on experience.

In addition, several industries are nearby the institutions, which gives them an added advantage.

Mumbai, one of the most technologically advanced cities in the world, ranks among the safest cities in India, especially for working women and students.

In Mumbai, the cost of living is reasonable, and hotels and hostels are often inexpensive. According to an IIT-B report, Mumbai is considered one of the world’s best cities for economic development and environmental protection.

In addition to train and bus services connecting the city’s major neighbourhoods, taxis and auto rickshaws are available 24 hours a day.

One of India’s Best Places To Start a Business: Mumbai is regarded as one of the top cities for education, in addition to being a commercial center and one of the best places to start a business.

The city of Mumbai attracts students from all over the country to study. Numerous colleges and universities provide high-quality education. Students can also find student housing that suits their budget.

We looked at the costs and benefits of the best MBA colleges in Mumbai. So, students can make informed decisions.

Graduates of Mumbai MBA programs have many job opportunities. They teach more than book smarts. They improve thinking and problem-solving skills. Graduates’ success stories demonstrate how MBAs can change lives.

Mumbai appears to have a lot to offer MBA students. It blends the demanding coursework with the vibrant city life. Students develop both personally and professionally.