5 mins | Vaishali Pandey

Top MBA Colleges in Maharashtra 2025

Known for housing over 700+ MBA colleges in India, Maharashtra continues to attract thousands of students each year with its expert faculty and stellar placement records. For instance, the Indian Institute of Management Mumbai, ranked 6th among the top MBA colleges in India in 2024 (NIRF), offers one of the most sought-after MBA programs in the country. 

This article explores the leading MBA colleges in Maharashtra, shedding light on the fees, admission criteria, entrance exams, rankings, and placement opportunities they offer. 

By the end of this blog, you will know:

1. The fees and admission criteria for the top MBA colleges in Maharashtra in 2025.

2. The key entrance exams for securing a seat in a top-tier MBA program and popular MBA specialisations that are available.

3. The placement opportunities and salary trends from MBA colleges in Maharashtra help you make an informed choice about your career path. 

Top MBA Colleges in Maharashtra: Key Highlights

Here’s a table summarising the key aspects of some of the top MBA colleges in Maharashtra, including their fees, admission criteria, and entrance exams.

Aspect

Details

Number of MBA Colleges

700+

Top MBA Colleges in Maharashtra

Approx. Average Annual Fees

INR 28,000 - INR 20 Lakh

Top MBA Specialisations

Accepted Entrance Exams

Discover everything you need to know about Entrance Exams for MBA in India 2024-25: Dates, Fees, and Eligibility – the key to unlocking your dream business school! 

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Top MBA Colleges in Maharashtra: NIRF Rankings

The National Institutional Ranking Framework (NIRF) is one of the most widely recognised rankings in India. In Maharashtra, several prestigious MBA colleges consistently feature in the NIRF rankings due to their excellence in education and research.

Take a look at the table below highlighting the top MBA colleges in Maharashtra and their NIRF rankings.

Name of College

NIRF 2022

NIRF 2023

NIRF 2024

Indian Institute of Management Mumbai

-

-

6

Symbiosis Institute of Business Management 

17

17

13

SPJIMR 

21

20

20

SVKM`s Narsee Monjee Institute of Management Studies

25

21

21

IIM Nagpur 

43

43

31

KJ Somaiya Institute of Management 

71

45

63

Prin. L.N. Welingkar Institute of Management Development and Research (PGDM)

68

73

84

National Institute of Bank Management

-

76

91

Top MBA Colleges in Maharashtra: Admissions Criteria 2025

When it comes to pursuing an MBA in Maharashtra, understanding the admission criteria is crucial for making the right choice. Each of the leading MBA colleges in the state has its own set of eligibility requirements, entrance exams, and selection processes.

Here is a detailed table of the eligibility criteria for the leading MBA colleges in Maharashtra.

Criteria

Details

Academic Qualifications

A 3-year bachelor’s degree from a recognised university (in any stream)

Minimum Marks Requirement

Typically, 50% marks in undergraduate degree (45% for SC/ST candidates)

Work Experience

Preferred by some institutions, especially for top-tier colleges (varies by institution)

Entrance Exams Accepted

CAT, GMAT, XAT, SNAP, CMAT, MH-CET, ATMA, GMAT, or Institution-specific exams

Age Limit

No specific age limit (varies by college)

Group Discussion and Interview

Required by most institutions as part of the selection process (after the entrance exam)

No Collateral Required. Approval Based on Student Potential. Check Your Eligibility

Top MBA Colleges in Maharashtra: Entrance Exams Dates 2025

For aspirants looking to pursue an MBA in Maharashtra, several entrance exams are widely accepted. These exams not only test your academic knowledge but also assess your aptitude, logical reasoning, and overall readiness for business school. 

The table below highlights the MBA entrance exam dates for 2025.

Exam Name

Dates

CAT Exam 

30 Nov 2025

CMAT Exam 

25 Jan 2025

MAT Exam 

February, May, September, and December 2025

XAT Exam 

5 Jan 2025

MAH CET Exam

17, 18, and 19 March 2025

Planning to take the MAH MBA CET 2025? Get ahead of the curve with our MAH MBA CET Syllabus 2025 – packed with detailed section-wise topics to help you ace the exam! 

‍Minimal Documentation. Application to Disbursement- In Just 3 steps! Check Your Eligibility.

Entrance Exams Accepted by Top MBA Colleges in Maharashtra

For those targeting top-tier institutions, scoring well on the right entrance exam is essential. The table below explores the entrance exams accepted by the leading MBA colleges in Maharashtra.

Entrance Exams

Number of Colleges Accepting Entrance Exam

MAH CET

619

CAT

426

CMAT

406

MAT

391

XAT

390

ATMA

364

List of Top 10 MBA Colleges in Maharashtra

Maharashtra is home to India’s financial capital, Mumbai, offering unparalleled networking and internship opportunities. From public institutions like JBIMS to private ones like SIBM, the state has something for every MBA aspirant.

Here’s a concise list of top MBA colleges in Maharashtra, along with their seat intake.

Name of College

Seat Intake 

Shailesh J. Mehta School of Management, IIT Bombay, Mumbai

172+

IIM(NITIE), Mumbai

398+

S.P. Jain Institute of Management and Research, Mumbai

540+

NMIMS School of Business Management, Mumbai

1260+

Symbiosis Institute of Business Management - [SIBM], Pune

284+

K J Somaiya Institute of Management, Mumbai

960+

International Institute of Management Studies - [IIMS], Pune

240+

Lexicon MILE - Management Institute of Leadership and Excellence, Pune

1200+

Institute of Management Technology - [IMT], Nagpur 

360+

Vivekanand Business School (VBS), Mumbai 

180+

List of Top MBA Colleges in Maharashtra Through CET

The Maharashtra Common Entrance Test (CET)  is a state-level exam that acts as an entry to some of the best management colleges in Maharashtra. Several top MBA colleges in Maharashtra accept CET scores, providing students with access to excellent academic programs.

The table below shows the Top MBA colleges in Maharashtra through CET with fee structure and CET 2024 cutoff.

MBA Colleges Accepting MAH CET score

Course Name

Approx. Fees

CET Cut-Off 2024 Round 1

Jamnalal Bajaj Institute of Management Studies, Mumbai

MMS

INR 3 Lakh

99.99

Prin. LN Welingkar Institute of Management Development and Research, Mumbai

MMS

INR 4.30 Lakh

99.94

Sydenham Institute of Management Studies, Research and Entrepreneurship Education, Mumbai

MMS

INR 67, 000 annually

99.97

Department of Management Sciences, University of Pune, Pune

MBA

INR 1.37 Lakh

-

SIES College of Management Studies, Navi Mumbai

MMS

INR 1. 72 Lakh

99.92

College of Engineering, Pune

MBA

INR 4.08 Lakh

99.89- 99.87

Xavier Institute of Management & Research, Mumbai

MMS

INR 5.20 Lakh

99.93

Chetana's Institute of Management and Research, Mumbai

MMS

INR 5.50 Lakh

99.79

MET Institute of Management, Mumbai

MMS

INR 4.09 Lakh

99.72

Lala Lajpatrai Institute of Management, Mumbai

MMS

INR 3.20 Lakh

99.59

Thakur Institute of Management Studies & Research, Mumbai

MMS

INR 5.01 Lakh

-

Rizvi Institute of Management Studies and Research, Mumbai

MMS

INR 4.30 Lakh

-

Vivekanand Education Society's Institute of Management Studies and Research, Mumbai

MMS

INR 4.50 Lakh

-

Indira College of Engineering & Management, Pune

MBA

INR 3.52 Lakh

99.61

Shree C. E. Society's Indira Institute of Management, Pune

MBA

INR 4.40 Lakh

-

St. Francis Institute of Management & Research, Mumbai

MMS

INR 5.48 Lakh

-

Indira Global Business School, Pune

MBA

INR 3.52 Lakh

-

Bharati Vidyapeeth's Institute of Management Studies and Research, Navi Mumbai

MMS

INR 3.68 Lakh

-

Durgadevi Saraf Institute of Management Studies, Malad (W), Mumbai

MMS

INR 7.30 Lakh

-

Savitribai Phule Pune University Sub Centre, Nashik

MBA

INR 15,000

-

Balaji Institute of Management and Human Resource Development, Tathawade

PGDM-Marketing and Finance, PGDM-PM and HRD, PGDM

INR 10.20 Lakh

-

Note: For the latest fee structure and other details, please refer to the official websites of the respective colleges to ensure accuracy.

Wondering how your MBA CET marks translate to percentile? Dive into our MBA CET Marks vs Percentile guide to uncover the secrets of calculating your score and boosting your chances of admission!

Top Private MBA Colleges in Maharashtra 2025

Private MBA colleges in Maharashtra often collaborate with leading industries to provide you with real-world exposure, enhancing your employability and skills.

Here’s a list of some of the top private MBA colleges in Maharashtra that you can apply to.

Private Colleges

Total Tuition Fee/Seat Intake

Entrance Exams Accepted

ITM Business School Navi Mumbai 

INR 12 lakh

Seats: 540

MAT, XAT, CAT, NMAT, etc.

NMIMS School of Business Management 

INR 13 lakh – INR 25 lakh

Seats: 1,350

NMAT

Symbiosis Institute of Business Management 

INR 24 lakh

Seats: 910

SNAP

S.P. Jain Institute of Management and Research 

INR 15 lakh – INR 24 lakh

Seats: 880

CAT

K J Somaiya Institute of Management 

INR 17 lakh

Seats: 660

XAT, CAT, NMAT, etc.

Pune Institute of Business Management 

INR 9 lakh – INR 30 lakh

Seats: 6,140

CAT, XAT, MAT, CMAT, MAH CET

Note: For the latest fee structure and other details, please refer to the official websites of the respective colleges to ensure accuracy.

Top Government MBA Colleges in Maharashtra 2025

Government MBA colleges in Maharashtra often rank among the best in India. Their fee structures are significantly lower than private institutions, making them an attractive option for students seeking high-quality education without financial strain.

The table below highlights some of the top Government MBA colleges in Maharashtra.

Government MBA Colleges

Approx. Total Tuition Fee/Seat Intake

Entrance Exams Accepted

IIM Mumbai (formerly known as NITIE) 

INR 14 lakh

CAT

IIM Nagpur 

INR 19 lakh

CAT

UNIPUNE - Savitribai Phule Pune University 

INR 1 lakh

Seats: 21,884

MAH CET, CAT, CMAT, MAT, XAT, etc.

Shailesh J. Mehta School of Management 

INR 3 lakh – INR 20 lakh

Seats: 172

CAT, JEE Main, JEE Advanced

Note: For the latest fee structure and other details, please refer to the official websites of the respective colleges to ensure accuracy.

Top Semi-Government MBA Colleges in Maharashtra 2025

Semi-government MBA colleges in Maharashtra offer a unique blend of affordability and quality education, making them an attractive choice for aspiring management professionals. 

Listed below are some of the leading semi-government MBA colleges in Maharashtra for 2025.

Public-Private Colleges

Total Tuition Fee/Seat Intake

Accepted Entrance Exams

National Institute of Bank Management 

INR 14 lakh

Seats: 180

CAT, XAT, CMAT

NICMAR University 

INR 6 lakh – INR 20 lakh

Seats: 1,170

CUET, CUET-PG

J.M.Patel Arts, Commerce and Science College 

INR 95,000

Seats: 60

CAT, XAT, MAT, GMAT, etc.

Note: For the latest fee structure and other details, please refer to the official websites of the respective colleges to ensure accuracy.

Leading MBA Colleges in Pune 2025

Pune, often referred to as the "Oxford of the East," is home to over 200+ MBA colleges. With a wide range of programs and excellent placement opportunities, MBA colleges in Pune are ideal for aspiring managers and entrepreneurs.

Here is a list of some of the best MBA colleges in Pune, along with their seat intake.

Name of University 

MBA/PGDM Seats

Approx. Tuition Fees

Bharati Vidyapeeth University, Institute of Management and Entrepreneurship Development - [IMED], Pune 

240

INR 11 lakhs

Symbiosis Institute of Business Management - [SIBM], Pune 

280

INR 24 lakh

Symbiosis Centre for Management and Human Resource Development - [SCMHRD], Pune 

306

INR 11.05 lakh

National Insurance Academy - [NIA], Pune 

120

INR 11 lakhs

Pune Institute of Business Management - [PIBM], Pune 

180

INR 3 lakh

Symbiosis Institute of International Business - [SIIB], Pune 

210

INR 22.8 lakh

International Institute of Management Studies - [IIMS], Pune 

240

INR 4.50 lakh

Balaji Institute of Modern Management - [BIMM], Pune 

360

INR 12.55 lakh

Institute of Management Development and Research (IMDR), Pune

180

INR 5 lakh - INR 6 lakh

Top MBA Colleges in Mumbai 2025

Pursuing an MBA in Mumbai provides an unparalleled opportunity to network with industry professionals, gain practical knowledge, and secure attractive placements in top organisations.

Here’s a list of the best MBA colleges in Mumbai that offer top-notch education and excellent career prospects.

Name of University 

Seats Intake 

Approx. Tuition Fees

Shailesh J. Mehta School of Management, IIT Bombay, Mumbai

172+

INR 3 lakh – INR 20 lakh

IIM Mumbai(NITIE)

398+

INR 14 lakh

S.P. Jain Institute of Management and Research, Mumbai

540+

INR 15 lakh – INR 24 lakh

NMIMS School of Business Management, Mumbai

1260+

INR 13 lakh – INR 25 lakh

Prin. L. N. Welingkar Institute of Management Development and Research, Mumbai

15650+

INR 4.30 Lakh

K J Somaiya Institute of Management, Mumbai

960+

INR 17 lakh

Amity University, Mumbai

-

INR 2-6 lakh

N.L. Dalmia Institute of Management Studies and Research, Mumbai

360+

INR 57,000 - INR 14.7 lakh

Vivekanand Business School (VBS), Mumbai 

180+

INR 8 lakh

Top MBA Colleges in Nagpur 2025

Nagpur, a rapidly growing educational hub in Maharashtra, offers some of the finest institutions for pursuing an MBA.

Below is a list of some of the top MBA colleges in Nagpur that stand out for their academic excellence and career opportunities. 

College Name

Approx. Total Tuition Fee

IIM Nagpur

INR 18 lakh

IMT Nagpur

INR 14 lakh

SIBM Nagpur

INR 10 lakh - INR 16 lakh

Dr. Ambedkar Institute of Management Studies and Research

INR 2 lakh

Note: For the latest fee structure and other details, please refer to the official websites of the respective colleges to ensure accuracy.

Leading Distance MBA Colleges in Maharashtra 

Maharashtra offers several well-regarded institutions that provide distance MBA programs, making it an excellent option for working professionals. 

Here’s a list of some of the best distance MBA colleges in Maharashtra, along with their fee details.

Colleges Offering Distance MBA

Approx. Total Tuition Fee

Symbiosis Centre for Distance Learning

INR 50,000

Institute of Distance and Open Learning, University of Mumbai

INR 19,000 - INR 1 lakh

IIBMS

INR 41,000 - INR 51,000

Yashwantrao Chavan Maharashtra Open University

INR 33,000

MIT School of Distance Education, MAEER

INR 65,000 - INR 9 lakh

Leading Online MBA Colleges in Maharashtra 

Online MBA programs have become a popular choice for professionals in Maharashtra who wish to enhance their management skills without the constraints of traditional classroom learning. 

Here’s a list of some of the leading Online MBA Colleges in Maharashtra.

Online MBA Colleges

Approx. Fees

SPJIMR Mumbai

INR 10 lakh

Welingkar Mumbai

INR 61,000 - INR 1 lakh

Pune Institute of Business Management

INR 3 lakh

National Insurance Academy- NIA

INR 11 lakh

Amity University Online

INR 2 lakh - INR 3 lakh

Note: For the latest fee structure and other details, please refer to the official websites of the respective colleges to ensure accuracy.

Top MBA Colleges in Maharashtra: Fees vs ROI

While the fees can seem steep, the high salaries that many graduates command upon entering the workforce make these programs a worthwhile investment. 

Here’s a look at the fee structure of some top MBA colleges in Maharashtra and a comparison to the average salaries that graduates can expect.

College Names

Approx. Total Tuition Fee

Annual Average Package

NMIMS School of Business Management 

INR 13 lakh – INR 25 lakh

INR 7 LPA - INR 19 LPA

SIBM Pune 

INR 24 lakh

INR 24 LPA

IIM Mumbai (formerly known as NITIE) 

INR 14 lakh

INR 21 LPA – INR 54 LPA

SPJIMR 

INR 15 lakh – INR 24 lakh

INR 3 LPA – INR 32 LPA

NMIMS Mumbai 

INR 10 lakh

INR 19 LPA

Check out our MBA Salary in India with Specialisation-wise Breakup 2024 and see how your future could shape up with the right MBA degree! Don’t miss out on this crucial insight before making your big decision.

Top Placement Packages Offered by Leading MBA Colleges in Maharashtra

The highest salary package during IIM Mumbai's 2024 placements reached INR 54 LPA, reflecting the strong demand for graduates from this top-tier business school. 

The table below highlights the highest placement packages offered by top MBA colleges in Maharashtra and leading recruiters.

College Name

Annual Average Package

Top Recruiters

NMIMS School of Business Management 

INR 7 LPA - INR 19 LPA

American Express, Axis Bank, EY, ITC, Wipro, etc.

SIBM Pune 

INR 24 LPA

Fullerton, Kroll, Luminous, Aditya Birla Capital, EY, PwC, etc.

IIM Mumbai (formerly known as NITIE) 

INR 21 LPA – INR 54 LPA

Capgemini, Coca-Cola, KPMG, Britannia, etc.

SPJIMR 

INR 25 LPA – INR 30 LPA

Asian Paints, Godrej, HUL, Nestle, Castrol, etc.

NMIMS Mumbai 

INR 19 LPA

Accenture, Adobe, Infosys, EY, etc.

List of Affordable MBA Colleges in Maharashtra

While top-tier institutions offer hefty placement packages, many students also seek institutions that offer value for money without compromising the quality of education. 

Here’s a list of affordable MBA colleges in Maharashtra with fees of less than INR 1 lakh.

Affordable MBA Colleges

Approx. Total Tuition Fee

Welingkar Mumbai

INR 94,000

Indira Institute of Management

INR 30,000

Abasaheb Garware Institute of Management Studies

INR 91,000

Punyashlok Ahilyadevi Holkar Solapur University

INR 88,000

Dr. Babasaheb Ambedkar Marathwada University

INR 20,000 - INR 90,000

MBA Colleges in Maharashtra: Key Specialisations

MBA Colleges in Maharashtra: Key Specialisations

From traditional fields like Marketing and Finance to newer, emerging sectors like Business Analytics and Digital Marketing, Maharashtra’s top MBA colleges ensure that you receive a well-rounded education tailored to your chosen field.

Here’s a table highlighting some of the most popular MBA specialisations available at top MBA colleges in Maharashtra.

Top Specialisations

Number of Colleges Offering Specialisation

Sales & Marketing

279

Finance

277

Human Resources

250

Operations

180

IT & Systems

141

International Business

107

Top MBA Colleges in Maharashtra Offering Marketing Specialisations

With the demand for marketing professionals on the rise, pursuing an MBA in Marketing from a leading institution in Maharashtra can significantly boost your career prospects. 

Listed below are some of the top MBA colleges in Maharashtra that excel in offering marketing specialisations.

Colleges Offering MBA in Marketing

City

SP Jain Institute of Management and Research

Mumbai

Prin. L. N. Welingkar Institute of Management Development & Research

Mumbai

NMIMS Mumbai

Mumbai

K J Somaiya Institute of Management

Mumbai

Symbiosis Institute of Business Management - [SIBM] 

Pune

Institute of Management Technology - [IMT]

Nagpur

Balaji Institute of Modern Management

Pune

Top 10 MBA Colleges in Maharashtra Offering MBA in Finance

An MBA in Finance is one of the most sought-after specialisations in Maharashtra due to its high career prospects and competitive salaries. 

Below is an overview of the leading MBA colleges in Maharashtra that are known for their finance programs.

Colleges Offering MBA in Finance

City

Shailesh J. Mehta School of Management [SJMSOM], IIT Bombay

Mumbai

SP Jain Institute of Management and Research [SPJIMR]

Mumbai

Prin. L. N. Welingkar Institute of Management Development & Research

Mumbai

SIES College of Management Studies

Mumbai

Narsee Monjee Institute of Management Studies - [NMIMS]

Mumbai

Symbiosis Institute of Business Management - [SIBM]

Pune

K J Somaiya Institute of Management

Mumbai

Institute of Management Technology - [IMT]

Nagpur

ITM Business School

Navi Mumbai 

Lexicon MILE - Management Institute of Leadership and Excellence

Pune

With institutions like IIM Mumbai, SPJIMR, and Symbiosis Institute of Business Management, students are positioned to access world-class education, excellent industry connections, and high-paying job opportunities. With thorough research and preparation, you can select a college that aligns with your career ambitions, ensuring a bright future ahead.

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Higher than Other Banks

Special USP

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% Financed

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Frequently Asked Questions

What is the duration of MBA programs in Maharashtra?

The duration of MBA programs in Maharashtra typically ranges from 1 to 2 years, depending on the college and the type of program (full-time or part-time).

What are the career prospects after completing an MBA in Maharashtra?

Graduates from the Top MBA colleges in Maharashtra have diverse career prospects in sectors like finance, consulting, marketing, and entrepreneurship.

How important is the college ranking for MBA admissions in Maharashtra?

College ranking plays a significant role in MBA admissions, as it often reflects the quality of education, faculty, and placement opportunities.

What is the average salary for MBA graduates from Maharashtra?

The average salary for MBA graduates from the Top MBA colleges in Maharashtra can range from INR 6 lakhs to INR 20 lakhs per annum, depending on the college and specialisation.

How does the CMAT score affect admission to MBA colleges in Maharashtra?

The top MBA colleges in Maharashtra accepting CMAT scores use it as a primary criterion for admission. A higher score can enhance the chances of securing a seat in a preferred college.

What specialisations are available in MBA programs in Maharashtra?

MBA programs in Maharashtra offer various specialisations, including Marketing, Finance, Human Resources, and Operations Management. You can choose based on your career goals and interests.

Are there any scholarships available for MBA students in Maharashtra?

Yes, many Top MBA colleges in Maharashtra offer scholarships based on merit and need. You can also explore government scholarships and financial aid options.

What specialisations are available in MBA programs in Maharashtra?

Placement statistics for MBA graduates from the Top MBA colleges in Maharashtra are generally impressive, with many institutions reporting placement rates above 90%.

What are the admission criteria for MBA programs in Maharashtra?

Admission criteria generally include a valid score in entrance exams, a bachelor’s degree, and sometimes work experience.

Which entrance exams are accepted by the top MBA colleges in Maharashtra?

The entrance exams accepted by the top MBA colleges in Maharashtra include CAT, MAT, CMAT, and GMAT.