Top MBA Colleges in Mumbai 2026 - Rankings, Fees, Admissions & More

Q1. Which MBA college in Mumbai offers the best ROI, with affordable fees?

The Shailesh J. Mehta School of Management, IIT Bombay, has the lowest fee structure with the best ROI, with tuition fees of approximately INR 2 lakh per semester, averaging an offer of INR 28.01 LPA, marking itself as the best value money MBA college in Mumbai.

Q2. What is the average fee range to pursue an MBA in Mumbai?

The average fee to apply to an MBA in Mumbai typically ranges from around INR 15 lakhs to INR 31 lakhs for the full program, depending on the college.

Q3. Which is the best MBA college in Mumbai?

IIM Mumbai is the top MBA college in Mumbai. It is based on the strongest NIRF rank, most prominent specialisations, and excellent return on investment.

Q4. What is the average salary package offered by the MBA colleges in Mumbai?

Average salary packages can range between INR 12 LPA and INR 30 LPA. However, the top colleges, such as IIM Mumbai and IIT Bombay, offer an average CTC of ₹30 LPA and ₹28 LPA, respectively.

Q5. Can students enrol in MBA programs in Mumbai without giving an entrance test?

In Mumbai, students can seek admission into certain private institutes of MBA, such as Amity Business School, without having to give any national-level entrance exam, but the top institutes, like IIM Mumbai, IIT Bombay, NMIMS, and KJ Somaiya, require entrance exams like CAT, XAT, GMAT, NMAT, CMAT, etc.