Best MBA Colleges in Mumbai 2026: Fees, Cutoffs and Placements

Quick Overview: The best MBA colleges in Mumbai that provide an MBA degree include IIT Bombay, NMIMS Mumbai, and KJ Somaiya. The college with the highest NIRF ranking and package is IIM Mumbai, while SPJIMR ranks 20th in the management category. However, both offer a PGP/PGDM degree.

Key Takeaways:

• IIM Mumbai: NIRF Rank 6, ₹15-16 lakh fees, ₹31.4 LPA average package (awards a PGP, not an MBA).
• SPJIMR: NIRF Rank 20, ₹22.66 lakh fees, ₹33.75 LPA average package (awards a PGDM, not an MBA).
• IIT Bombay (SJMSOM): NIRF Rank 14, ₹7.55 - 15.55 lakh fees, ₹28 LPA average package.
• NMIMS Mumbai (SBM): NIRF Rank 24, ₹27 lakh fees, ₹24.6 LPA average package.
• KJ Somaiya (KJSIM): NIRF Rank 65, ₹9.86 - 10.65 lakh fees, ₹12 LPA average package.

In this blog, we cover the NIRF rank, fees, placements and entrance exam cutoffs for the best MBA colleges in Mumbai.

NIRF-Ranked MBA Colleges in Mumbai

The NIRF Ranking of a university states where the university stands in terms of teaching quality, research, placements, and other important factors. Here are the top-ranked MBA Colleges in Mumbai as per NIRF management category rankings:

The above-mentioned institutes and universities are top NIRF-ranked management institutes of India. However, a higher NIRF rank doesn’t mean a higher fee or the best placements. So, let’s explore the fees of MBA colleges in Mumbai.

MBA Colleges Fees in Mumbai

The fees of MBA course in Mumbai colleges vary from one college/institution to another. The MBA fees across Mumbai’s top colleges range between ₹15 lakh and ₹25 Lakh for the whole 2-year duration. A detailed fee structure of top MBA colleges of Mumbai is given below:

Also Read: https://www.collegesathi.com/blogs/mba-fees-in-india-iim-government-private-online

Top MBA Colleges in Mumbai with Placement Records

The MBA colleges in Mumbai offer an average placement package that ranges from ₹15 LPA to ₹50 LPA. However, these vary year to year and from institution to institution. The MBA colleges in Mumbai place learners in some of India’s and the world's top MNCs. Let’s have a look at the average and the highest packages offered by these top 5 MBA colleges in Mumbai:

Quick Fact: KJ Somaiya is the only college on this list that runs an MBA and a PGDM as two separate programs side-by-side.

Cutoff of MBA Colleges in Mumbai

Each college sets its own exam and cutoff, so check the details before you prepare.

• IIM Mumbai needs a CAT percentile of around 80 to 85.
• SPJIMR needs a CAT percentile of around 85, or an equivalent GMAT score.
• IIT Bombay (SJMSOM) splits your CAT score and Personal Interview equally, 42.5% each, along with academic and diversity factors for the rest.
• NMIMS Mumbai (SBM) admits only through NMAT, with a typical cutoff of 209 overall and 62 in each section.
• KJ Somaiya (KJSM) accepts CAT at 80 plus percentile, MAH CET at 95 plus percentile, CMAT at 85 plus, and XAT at 82 plus.

Conclusion

Among the best MBA colleges of Mumbai, in terms of packages and ranks, IIM Mumbai ranks first in the city, followed by SP Jain. However, both offer a PGP or PGDM, not an MBA. Among colleges that actually award an MBA degree, IIT Bombay has the strongest package as compared to its fees; NMIMS Mumbai offers a similar average package at a higher fee, and KJ Somaiya offers a mid-range option with a university-affiliated MBA. 

If you want help figuring out which college and exam fit your score and budget, CollegeSathi offers free counselling to guide you through the options.