Tasbiya KhanSenior Executive
Top MBA Colleges in Maharashtra 2023: Rank, Fees, Cutoff, Placements, Admission
There are a total of 12 top MBA colleges in Maharashtra that offer MBA courses. Among them, 9 colleges are privately owned and 2 colleges are owned by public/government organisations, and public-private entities own only 1 college. CAT, CMAT, and XAT are the most accepting entrance exams in top MBA colleges in Maharashtra. National Institute of Industrial Engineering, IIT Bombay, and S P Jain Institute of Management & Research are some of the most famous MBA institutes in Maharashtra.
The revised rankings of MBA top colleges in Maharashtra are mentioned below:
- National Institute of Industrial Engineering improved its ranking as it shifted to rank 7 in 2023 as compared to rank 9 in 2022.
- S. P. Jain Institute of Management & Research improved its ranking as it shifted to rank 20 in 2023 as compared to rank 21 in 2022.
Table of Contents
- Top MBA Colleges in Maharashtra: Highlights 2023
- Top MBA Colleges in Maharashtra: Eligibility Criteria
- Popular Exams Accepted by Top MBA Colleges in Maharashtra: Exam Schedule 2023
- Top MBA Colleges in Maharashtra with NIRF Ranking 2023
- Top Private MBA Colleges in Maharashtra
- Top Government MBA Colleges in Maharashtra
- Top Semi-Private MBA Colleges in Maharashtra
- State-wise Top MBA Colleges in Maharashtra
- ROI of Top MBA Colleges in Maharashtra
- Top Recruiters for MBA Graduates in Maharashtra
- How affordable is Studying MBA in Maharashtra?
- Top Specialisations offered by Top MBA Colleges in Maharashtra
- Top MBA Colleges in Maharashtra: Comparison
- Top MBA Colleges in Maharashtra FAQs
Top MBA Colleges in Maharashtra: Highlights 2023
Four aspects in general determine admission to an MBA programme. This includes the CAT score, academic standing, written ability exam, group discussion, and personal interview. They take place following the release of the CAT results. Candidates are shortlisted for WAT and PI if they meet the CAT cutoff. Final admission decisions are made based on a candidate's entire profile, which includes their CAT, academic, work, and category scores as well as their WAT and PI scores.
The table below mentions key highlights of the top MBA colleges in Maharashtra:
|
Parameters |
Particulars/Statistics |
|---|---|
|
No. of top MBA Colleges |
12 |
|
Annual Fees |
INR 3-5 lakh: 1 college INR > 5 lakh: 11 colleges |
|
Top Specialisations |
Finance, Sales and Marketing, Operations, Human Resources, IT & Systems, etc. |
|
Accepted entrance exams |
Predict your chances here: MBA 2023 Cutoff Predictor
Top MBA Colleges in Maharashtra: Eligibility Criteria
The requirements for an MBA may vary from one college to another. However, the following are the fundamental requirements for pursuing an MBA:
- Candidates must have completed their undergraduate degree in any discipline or equivalent degree from a recognised university to qualify for an MBA (full-time).
- The majority of institutions adhere to the average or equivalent minimum score requirement of 50% for graduation. Students from reserved categories can also receive a five percent relaxation from some universities' requirements.
- Candidates for graduation who are in their final year may also apply for an MBA if they can offer documentation that their degree was earned within the institute-specified time frame.
Popular Exams Accepted by Top MBA Colleges in Maharashtra: Exam Schedule 2023
The two most popular entrance exams accepted in MBA top colleges in Maharashtra are:
- XAT: XAT (Xavier Aptitude Test) is a national-level management entrance examination conducted by XLRI, Jamshedpur for admission to MBA/PGDM programmes. XAT preparation needs at least six to nine months. Being one of the tougher MBA entrance exams among its peers, XAT requires dedicated time and effort. It comprises four sections: Decision Making, Verbal Ability and Logical Reasoning, Quantitative Ability & Data Interpretation, and General Knowledge.
- CAT: Common Admission Test (CAT) is a national-level management aptitude test for admission to the MBA courses offered by 20 IIMs and over 1,200 B-schools in India. CAT question paper is divided into three sections: Verbal Ability and Reading Comprehension, Data Interpretation and Logical Reasoning, and Quantitative Aptitude. The preparation for CAT exam should include phase-wise completion of the CAT syllabus, mock test practice, and revision.
- MAT: Management Aptitude Test or MAT is a national-level entrance exam conducted by the All India Management Association (AIMA) for admissions to MBA/PGDM courses. The exam is conducted in multiple sessions in four phases – February, May, September, and December. MAT exam is conducted in offline (Paper Based Test or PBT), online (Computer Based Test or CBT), and remotely proctored (Internet Based Test or IBT) modes.
Preparing for CAT 2023? Click to practice:
- Q&A for Verbal Ability
- Q&A for Quantitative Aptitude
- Q&A for Data Interpretation and Logical Reasoning
Which are the most popular entrance exams accepted by Top MBA Colleges in Maharashtra?
The top MBA colleges in Maharashtra accept scores obtained by students in numerous national-level examinations. See the table below for a detailed overview of the top exams to get admitted to the top MBA colleges in Maharashtra along with their number of colleges and cut off 2023 predictor:
Listed below are the following admission dates for best MBA colleges in Maharashtra along with their dates and their schedule:
|
Exam Name |
Dates |
Schedule |
|---|---|---|
|
CAT Exam 2023 |
26 Nov ‘23 |
|
|
XAT Exam 2024 |
7 Jan ‘24 |
|
|
CMAT Exam 2024 |
May '24 |
|
|
MAT CBT 1 Exam 2023 |
3 Dec '23 |
|
|
NMAT Exam 2024 |
To Be Announced |
Read more about CAT, MAT, and CMAT Mock Tests:
- Download CAT Previous Years Question Papers
- Free Online CAT Mock Test Series
- Free Online CMAT Mock Test Series
- Free Online MAT Mock Test Series
Top MBA Colleges in Maharashtra with NIRF Ranking 2023
Every year, NIRF rankings are published in accordance with the annual data gathered by the framework. Five factors, including graduation rate, research and professional practises, teaching and learning resources, and the overall impression of the institution, are used to determine rankings and ratings.
Following is a list of the top MBA colleges in Maharashtra ranked by NIRF from 2021 to 2023:
|
College Name |
NIRF 2021 |
NIRF 2022 |
NIRF 2023 |
|---|---|---|---|
|
12 |
9 |
7 |
|
|
10 |
11 |
10 |
|
|
20 |
17 |
17 |
|
|
19 |
21 |
20 |
|
|
22 |
25 |
21 |
|
|
40 |
43 |
43 |
|
|
Principal L N Welingkar Institute of Management Development and Research |
72 |
68 |
73 |
|
56 |
71 |
45 |
READ MORE: MBA Courses
Top Private MBA Colleges in Maharashtra
Here is a list of top private MBA colleges in Maharashtra along with their total course fee/seat intake and entrance exam/eligibility criteria:
|
College Name |
Total Tuition Fee/Seat Intake |
Entrance Exam/Eligibility |
|---|---|---|
|
INR 22 lakh Seats: 282 |
Entrance Exam: SNAP Graduation with 50% aggregate |
|
|
INR 20 lakh Seats: 780 |
Entrance Exam: CAT Graduation with 50% aggregate |
|
|
SVKM`s Narsee Monjee Institute of Management Studies Admission |
INR 12 lakh Seats: 990 |
Entrance Exam: NMAT Graduation with 50% aggregate |
|
Principal L N Welingkar Institute of Management Development and Research Admission |
INR 14 lakh Seats: 12,830 |
Entrance Exam: CAT, XAT, CMAT, ATMA Graduation with 50% aggregate |
READ MORE: MBA Syllabus
Top Government MBA Colleges in Maharashtra
Here is a list of top public/government MBA colleges in Maharashtra along with their total course fee/seat intake and entrance exam/eligibility criteria:
|
College Name |
Total Tuition Fee/Seat Intake |
Entrance Exam/Eligibility |
|---|---|---|
|
INR 6 lakh Seats: 338 |
Entrance Exam: CAT Graduation with 60% aggregate |
|
|
INR 19 lakh |
Entrance Exam: CAT Graduation with 50% aggregate |
Top Semi-Private MBA Colleges in Maharashtra
Here is a list of top public-private MBA colleges in Maharashtra along with their total course fee/seat intake and entrance exam/eligibility criteria:
|
College Name |
Total Tuition Fee/Seat Intake |
Entrance Exam/Eligibility |
|---|---|---|
|
INR 14 lakh Seats: 180 |
Entrance Exams: CAT, XAt, CMAt Graduation with 50% aggregate |
READ MORE: MBA Admission 2024
State-wise Top MBA Colleges in Maharashtra
Listed below are the state-wise distribution of top MBA colleges in Maharashtra:
Top MBA colleges in Pune
The table below shows the top MBA colleges in Pune along with their NIRF ranking (2023) and total tuition fee:
| College Name | NIRF ranking (2023) | Total Tuition Fee |
|---|---|---|
| SIBM Pune | 17 | INR 22 lakh |
| National Institute of Bank Management | 76 | INR 14 lakh |
| Institute of Management and Entrepreneurship Development | 101-125 | INR 5 lakh |
| National Insurance Academy | 101-125 | INR 9 lakh |
Top MBA colleges in Mumbai
The table below shows the top MBA colleges in Mumbai along with their NIRF ranking (2023) and total tuition fee:
| College Name | NIRF ranking (2023) | Total Tuition Fee |
|---|---|---|
| IIM Mumbai | 7 | INR 6 lakh |
| SPJIMR | 20 | INR 20 lakh |
| NMIMS School of Business Management | 21 | INR 12 lakh |
| KJ Somaiya Institute of Management | 45 | INR 17 lakh |
Top MBA colleges in Nagpur
The table below shows the top MBA colleges in Nagpur along with their NIRF ranking (2023) and total tuition fee:
| College Name | NIRF ranking (2023) | Total Tuition Fee |
|---|---|---|
| IIM Nagpur | 43 | INR 19 lakh |
| IMT Nagpur | 101-125 | INR 14 lakh |
ROI of Top MBA Colleges in Maharashtra
Return on investment, or ROI, is the sum of money that students receive as a placement offer in return for investing a sizable sum of money in attending a college and completing a degree of study.
The best MBA colleges in Maharashtra with the total course fee and annual median package are tabulated below:
|
College Name |
Total Tuition Fee |
Annual Average Package |
|---|---|---|
|
INR 6 lakh |
INR 22 LPA |
|
| IIM Nagpur MBA | INR 19 lakh | INR 17 LPA |
|
INR 22 lakh |
INR 24 LPA |
|
|
INR 20 lakh |
INR 33 LPA |
Note: Above statistics are based on the latest available data.
Read more about MBA colleges in different locations:
- Top MBA Colleges in Bangalore
- Top MBA Colleges in Uttar Pradesh
- Top MBA Colleges in Karnataka
- Top MBA Colleges in Rajasthan
Top Recruiters for MBA Graduates in Maharashtra
Below is the list of MBA top colleges in Maharashtra and a few top companies that recruit MBA graduates along with their placement ackage:
|
College Name |
Placement Package |
Top Recruiters |
|---|---|---|
|
INR 22 LPA |
Britannia, Emami Agrotech, Bain & Co., EY GDS |
|
|
INR 17 LPA |
Deloitte India, ZS Associates, V-Guard, Tech Mahindra |
|
|
INR 24 LPA |
EY, Accenture, Google, Wipro, Flipkart, PwC, Jio |
|
|
INR 33 LPA |
Amazon, Flipkart, Tata, Goldman Sachs, Paytm |
How affordable is Studying MBA in Maharashtra?
Pursuing MBA courses in colleges in Maharashtra is expensive as most of the colleges have a total tuition fee of more than INR 5 lakh. Tabulated below is the names of MBA colleges in Maharashtra along with their total tuition fee structure:
|
Fee Range |
Namesof Colleges |
|---|---|
|
INR 3-5 lakh |
Institute of Management and Entrepreneurship Development |
|
INR > 5 lakh |
IIM Mumbai, SIBM Pune, SPJIMR, etc. |
READ MORE: Career After MBA
Top Specialisations offered by Top MBA Colleges in Maharashtra
In Maharashtra, the MBA degree is offered in various specialisations. See the table below for a detailed overview of the top specialisations offered by the best MBA colleges in Maharashtra:
To check the comparison between the best MBA Colleges in Maharashtra, click the link below:
- SIBM Pune Comparison with other colleges
- Welingkar Mumbai Comparison with other colleges
- SPJIMR Comparison with other colleges
- IIM Nagpur Comparison with other colleges
- NMIMS School of Business Management Comparison with other colleges
- Shailesh J. Mehta School of Management, IIT Bombay Comparison with other colleges
1. Indian Institute of Management Mumbai
2. Symbiosis Institute of Business Management, Symbiosis International, Pune
3. S.P. Jain Institute of Management and Research, Mumbai
4. NMIMS School of Business Management, Mumbai
5. IIM Nagpur - Indian Institute of Management
6. K J Somaiya Institute of Management
7. Prin. L. N. Welingkar Institute of Management Development and Research, Mumbai
8. National Institute of Bank Management
9. Institute of Management and Entrepreneurship Development, Bharati Vidyapeeth
10. IMT Nagpur - Institute of Management Technology
11. National Insurance Academy- NIA
12. Pune Institute of Business Management
Other popular MBA/PGDM colleges in Maharashtra
Confused about which college or exam to opt for?
Chat with our counsellor.
Get your personalised list of colleges & exams.
Top MBA Colleges in Maharashtra FAQs
Q: Which are the best colleges for MBA in Maharashtra?
A: Every year, the NIRF rankings are issued in accordance with the framework's annual data. Rankings and ratings are based on five factors: graduation rate, research and professional practices, teaching and learning resources, and overall impression of the school.
Following is a list of the top MBA colleges in Maharashtra ranked by NIRF from 2021 to 2023:
|
College Name |
NIRF 2021 |
NIRF 2022 |
NIRF 2023 |
|---|---|---|---|
|
12 |
9 |
7 |
|
|
10 |
11 |
10 |
|
|
20 |
17 |
17 |
|
|
19 |
21 |
20 |
|
|
22 |
25 |
21 |
|
|
40 |
43 |
43 |
|
|
Principal L N Welingkar Institute of Management Development and Research |
72 |
68 |
73 |
|
56 |
71 |
45 |
Q: How many MBA colleges are there in Maharashtra?
A: There are 12 top MBA colleges in Maharashtra that provide MBA programs. 9 of them are privately held, 2 are owned by public/government organizations, and 1 is owned by a public-private partnership. The most popular entrance examinations in top MBA colleges in Maharashtra are the CAT, CMAT, and XAT. Some of the most well-known MBA institutes in Maharashtra are the National Institute of Industrial Engineering, IIT Bombay, and S P Jain Institute of Management & Research.
Q: Which are the job profiles offered after completing an MBA from top MBA colleges in Maharashtra?
A: Some of the job profiles offered by companies after completing an MBA from top MBA colleges in Maharashtra are:
- Finance Manager
- Marketing Manager
- Sales Manager
- Human Resources Manager
- Operations Manager
- Product Manager
- Data Analytics Manager
- Digital Marketing Manager
Q: Which is the best college for an MBA in Maharashtra with the highest package in placement?
A: The following is a list of the top MBA colleges in Maharashtra, as well as a few prominent organizations that recruit MBA graduates along with their placement packages:
|
College Name |
Placement Package |
Top Recruiters |
|---|---|---|
|
INR 22 LPA |
Britannia, Emami Agrotech, Bain & Co., EY GDS |
|
|
INR 17 LPA |
Deloitte India, ZS Associates, V-Guard, Tech Mahindra |
|
|
INR 24 LPA |
EY, Accenture, Google, Wipro, Flipkart, PwC, Jio |
|
|
INR 33 LPA |
Amazon, Flipkart, Tata, Goldman Sachs, Paytm |
Q: Who are the top recruiters participated in MBA colleges in Maharashtra?
A: The top recruiters who hire students from MBA colleges in Maharashtra are as follows:
| Flipkart | Britannia |
| Deloitte | ZS Associates |
| Accenture | |
| EY | Wipro |
| Jio | Amazon |
| Goldman Sachs | Paytm |
Q: Which are the most affordable and best colleges in Maharashtra for an MBA?
A: The table below shows the most affordable and best MBA colleges in Maharashtra having fees of INR 3-5 lakh along with their total tuition fees:
| College Name | Total Tuition Fee |
|---|---|
| Institute of Management and Entrepreneurship Development | INR 5 lakh |
Q: Which top MBA colleges in Maharashtra give admission through CET?
A: There is only 1 MBA college in Maharshtra which give admission through MAH CET entrance exam. Listed below is the total tuition fee and placement of MBA college accepting MAH CEt score in Maharashtra:
| College Name | Total Tuition Fee | Annual Placement Package |
|---|---|---|
| Pune Institute of Business Management | INR 8 lakh | INR 7 LPA |
Q: Which are the best MBA colleges in Maharashtra to get a decent job?
A: Refer to the table below for a detailed overview of the top MBA colleges in Maharashtra which provide good placement opportunities to their students along with their total tuition fee and placement package offered to their graduates:
|
College Name |
Total Tuition Fee |
Annual Average Package |
|---|---|---|
|
INR 6 lakh |
INR 22 LPA |
|
| IIM Nagpur MBA | INR 19 lakh | INR 17 LPA |
|
INR 22 lakh |
INR 24 LPA |
|
|
INR 20 lakh |
INR 33 LPA |
Q: Which is top 10 MBA colleges in Maharashtra?
A: Among the top 10 MBA colleges in Maharashtra, listed below are some of the top MBA colleges in Maharshtra along with their NIRF ranking 2023:
|
College Name |
NIRF 2023 |
|---|---|
|
7 |
|
|
10 |
|
|
17 |
|
|
20 |
|
|
21 |
|
|
43 |
|
|
Principal L N Welingkar Institute of Management Development and Research |
73 |
|
45 |
Q: Which is the best course offered by top MBA colleges in Maharashtra?
A: The MBA degree is available in a variety of specializations in Maharashtra. See the table below for a thorough breakdown of the top specialisations provided by Maharashtra's leading MBA colleges:
| Top Specialisations | Number of Colleges |
|---|---|
| Finance | 11 |
| Sales & Marketing | 10 |
| Operations | 8 |
| Human Resources | 7 |
| IT & Systems | 4 |
Q: What is the fees of top MBA colleges in Maharashtra?
A: SIBM Pune has the highest total tuition fee of INR 22 lakh, while IIM Mumbai has the lowest total tuition fee of INR 6 lakh.
Listed below is the total tuition fee of top MBA colleges in Maharshtra:
|
College Name |
Total Tuition Fee |
|---|---|
|
INR 22 lakh |
|
|
INR 20 lakh |
|
|
SVKM`s Narsee Monjee Institute of Management Studies Admission |
INR 12 lakh |
|
Principal L N Welingkar Institute of Management Development and Research Admission |
INR 14 lakh |
|
INR 6 lakh |
|
|
INR 19 lakh |