Top MBA Colleges in Maharashtra 2025 – Rankings, Fees, Placements & Admission Details

Maharashtra hosts some of the leading business schools of India, with institutions well-recognized globally for their academic excellence, strong industry ties, and impressive return on investment. The state is home to more than 300 private universities, 8 government-owned MBA-specific institutions, 10 state government universities, 10 deemed private universities, and more deemed-to-be institutions. According to the National Board of Accreditation (NBA), there are a total of 22 NBA-accredited universities for MBAs in the state. There are 10 leading colleges for MBA that one can choose from in the list of top MBA colleges in Maharashtra in 2025. Colleges such as IIM Mumbai, NMIMS, IIM Nagpur, and Symbiosis Institute of Business Management, Pune, are among the top choices for students due to their strong MBA programs, excellent placements, and global reputation.

According to the data released on the official portals like NIRF, DTE Maharashtra, and institute-specific websites, there are several common entrance exams. Top-tier MBA colleges such as IIMs and leading private universities prefer CAT as their entrance exam. Institutes like SIMSREE and PUMBA accept the state-level entrance exam, MAH-CET. NMIMS, known for its high placement record, specifically allows entrance on the basis of the NMAT score. Many private institutions allow candidates with good scores in XAT/CMAT/ATMA for admission. Top recruiters in these leading universities include McKinsey & Company, Accenture, Deloitte, Boston Consulting Group, Hindustan Unilever, ICICI Bank, TCS, and Aditya Birla Group.

Top MBA Colleges in Maharashtra Highlights 2025

Top MBA Colleges in Maharashtra with Rankings 2024

The top MBA colleges in Maharashtra offer globally competitive MBA programs with a strong academic foundation, a curriculum aligned with industry requirements, and excellent placement statistics. Based on the overall data, the National Institutional Ranking Framework (NIRF), Outlook, and Business Today have ranked the top MBA colleges in Maharashtra. 

NIRF Rankings 2024

India’s most authoritative ranking system for higher education institutions, NIRF, evaluates colleges across multiple objective parameters. The parameters involve academic curriculum, resources available for students, Research and Professional Practices (RPC), graduation results, and diversity and inclusivity. In the latest 2024 rankings released by NIRF, IIM Mumbai secured the highest position among the top MBA colleges, with other colleges from Maharashtra also featured on the list. 

Outlook Rankings 2024

The Outlook-ICARE India MBA Rankings for 2024 offer yet another trusted, credible, and independent evaluation of business schools across India. The ranked colleges’ list consists of a strong lineup of colleges from Maharashtra. In addition to this, the list differentiates between both private and public universities. With colleges like JBIMS Mumbai and IIM Nagpur ranking high in the list, Maharashtra’s reputation has grown significantly. 

Business Today Rankings 2024

As per the official survey by Business Today-MDRA released in October 2024, colleges like NMIMS Mumbai and SBIM Pune were featured among the top business schools in Maharashtra. The business today rankings are considered one of the most data-driven and influential assessments of business colleges. Business Today rankings for 2024 yet again confirm Maharashtra’s dominance as the premier destination for management education. 

Top MBA Colleges in Maharashtra Admissions 2025

An MBA in Maharashtra comes with a lot of perks, including reputed institutions, diverse specializations and programs, and strong industry ties. The 2025 MBA admission cycle in the top MBA colleges in Maharashtra is underway, making it extremely important for the students to understand the admission process. The MAH MBA CET 2025 Centralized Admission Process (CAP) rounds concluded on July 14, 2025. With thousands of candidates applying for admission to the top MBA colleges in Maharashtra, it is crucial for students to secure their seats early. 

 

Admission Process

 

Step 1 - The first step is to register for an entrance exam. Candidates must register themselves for a national or state-level entrance exam for admission to top MBA colleges in Maharashtra. 

Step 2 - Prepare well in advance and appear for entrance exams, as top-tier colleges only allow entrance to students with a certain score in exams like CAT, MAH MBA CET, NMAT, XAT, or CMAT. 

Step 3 - Upon getting shortlisted, the candidates will have to appear for further rounds such as group discussion and personal interview. Some top business colleges like IIMs conduct a Written Ability Test (WAT) or follow a Common Admission Process (CAP) for admissions. 

Step 4 - All the documents submitted by the candidates will be verified. Some colleges also have centralized counselling sessions prior to the release of the final merit list for students. 

Step 5 - Candidates shortlisted in the final merit list will be allotted seats and receive offer letters confirming their admission to the college for the selected program. 

Step 6 - Acceptance of the offer from the college and fee payment to secure the seat at the college, and confirmation of admission. 

 

State-level MBA Admission 2025 via MAH MBA CET

The Maharashtra government has established a State Common Entrance Test Cell that conducts entrance exams for admission to professional courses in the state. The state-level exam is crucial for candidates looking forward to getting admission to top MBA institutions. Over 100,000 students participate in this test annually, and colleges like SIMSREE and JBIMS consider it a primary admission criterion.  

Entrance Exam-Based Admission to Top MBA Colleges in Maharashtra

• CAT - Most prominent MBA colleges in Maharashtra, such as SIBM Pune, JBIMS, and others, accept CAT scores for admission. The computer-based test is necessary to evaluate a candidate’s verbal, quantitative, data interpretation, logical reasoning, and reading abilities. 

• NMAT - Top MBA colleges such as NMIMS Navi Mumbai, NMIMS Mumbai, and K J Somaiya Institute of Management accept NMAT scores for admission. Also, some Pune-based institutions accept NMAT scores for MBA admissions. 

• XAT - There are only a few colleges from the list of top MBA colleges in Maharashtra that accept XAT scores for admission to MBA. One of the most prominent names is the K J Somaiya Institute of Management in Mumbai. 

• CMAT - Leading institutions like Jamnalal Bajaj Institute of Management Studies (JBIMS) and K J Somaiya Institute of Management Studies and Research (KJSIMSR) offer admissions to candidates with good CMAT scores. 

Top MBA Colleges in Maharashtra: Exam Schedule 2025

Entrance exams like the Common Admission Test (CAT) and others are key to the doors of prestigious MBA institutions. Every year, thousands of candidates appear in these exams to secure the best college for their business education and build a reputable career in management. Here’s a calendar for students to keep an eye on the major entrance exams, their registration and exam dates, and the colleges that require those particular entrance exam results for admissions to the MBA program for 2025. 

Top Private MBA Colleges in Maharashtra

The top private business schools in Maharashtra are well-known for offering world-class education along with diverse specializations and strong placement statistics. Prominent colleges like SIBM Pune, NMIMS Mumbai, and K J Somaiya have consistently shown up in the list of top private institutions offering high-quality business education. All the programs offered by these leading private colleges are NBA-accredited and AICTE-approved, making them the top choice for students. 

Top Government MBA Colleges in Maharashtra

Government MBA colleges have earned a reputation in both students’ and parents’ minds because of their academic excellence, reputed brand value, and incredible return on investment. One of the best perks of securing admission to a government-run college in Maharashtra is the affordability as compared to prestigious private institutions. Admission to the top government colleges requires competitive exam scores, such as MAH-CET, CAT, or others for admission. 

Top MBA Colleges in Mumbai Eligibility Criteria

Mumbai hosts a number of prestigious government as well as private business schools that are well recognized globally. The programs offered at the top universities in Mumbai are backed by significant accreditations and strong placement statistics. Colleges like IIM Mumbai, IIT Bombay, and NMIMS SBM have a set of eligibility criteria for admission to their MBA programs. 

• A minimum of 50% aggregate in a bachelor’s degree from a recognized university. The percentile may vary according to the categories and reservations.

• Final-year college students can also apply for admission to their target universities. However, students who haven’t passed yet will require a certificate from their UG college showcasing their eligibility to graduate by the time of the MBA program commencement. 

• Good scores as per the respective cutoffs of colleges in national-level and state-level entrance exams (CAT, XAT, GMAT, NMAT, etc.)

• Work experience doesn’t have any necessary weightage in the flagship programs of top-tier MBA colleges in Maharashtra.

MBA Colleges in Maharashtra Fees vs Salary (ROI)

Pursuing an MBA in higher education, that too at the top business schools in Maharashtra, can be a heavy investment. Hence, in order to make a wise decision in terms of choosing the best college to study for an MBA, there needs to be a proper assessment of investment vs. returns from that particular college. This can simply be done with a comparison between the particular college’s tuition fee and the average salary upon graduation. 

Highest Salary Offered by MBA Colleges in Maharashtra

On the basis of the highest package offered to a student in any particular college during the placement cycle, the chances of getting exposed to maximum career opportunities are reflected. The higher the package, the better the academic performance of the student, leading to more recruiters showing interest in recruiting candidates from that college. The state of Maharashtra delivers strong salary outcomes, with leading companies like Deloitte, Accenture, P&G, BCG, and Goldman Sachs recruiting top candidates from colleges.

Cost of Studying MBA in Maharashtra

The overall cost of studying for an MBA in Maharashtra may vary, as it depends on a lot of factors like services availed, scholarships secured, accommodation chosen, and the basic standard of living. However, a basic estimate of the overall cost can be calculated by college-specific tuition fees, hostel, and mess charges.

 

NMIMS Mumbai

• Tuition Fee - 25 lakh approximately

• Hostel Charges - INR 2.35-3 lakh

• Mess Charges - included in hostel fee

• Total Fees - INR 28-30 lakh approximately

SIBM Pune 

• Tuition Fee - INR 26,79,200 

• Hostel Charges - INR 2.86 lakh

• Mess Charges - INR 1,04,000 lakh 

• Total Fees - INR 30-31 lakh approximately 

IIM Mumbai 

• Tuition Fee - INR 13,50,000 

• Hostel Charges - INR 48,000-1,50,000 approximately

• Mess Charges - INR 90,000-100,000 approximately

• Total Fees - INR 15.90-16.50 lakh approximately

IIM Nagpur 

• Tuition Fee - INR 21,00,000

• Hostel Charges - INR 1,20,000 approximately

• Mess Charges - Might be included in hostel fee

• Total Fees - INR 22.5-23.5 lakh approximately

EMI and Scholarships

The MBA programs at the top institutions in Maharashtra are certainly expensive and demand proper financial planning. To ease the financial burden off the parents’ shoulders and students’ minds, colleges have tie-ups and collaborations with banks to avail easy EMI options. This comes up as the smartest decision in financially planning the MBA journey. Though colleges may not directly offer easy pay options to candidates, one can always take student loans from the banks of their choice with the lowest interest rates possible. 

 

Another relieving factor for students is the scholarships offered by the top-tier MBA institutions to students falling under certain categories. Here’s a list of college-based scholarships provided at the top MBA institutes in Maharashtra.

Top MBA Specializations in Maharashtra

With cities like Mumbai and Pune home to most of the top-tier colleges offering the most valued and reputed MBA programs, there are colleges that are well-known for different specializations. These specializations, as the name suggests, focus on specific business areas such as marketing, finance, or human resources. Students can choose according to their preferred area of interest in business, allowing them to acquire the required knowledge and skills and get their dream job. Here’s a list of popular MBA specializations along with the best college for that particular specialization. 

Top MBA Colleges in Maharashtra Cutoff 2025

The top MBA colleges in Maharashtra welcome students from all across the country. These leading business schools accept scores from several exams like CAT, XAT, NMAT, and SNAP. Each college gives preference to different entrance exams and has a set mark for the minimum score they would accept from the candidate to consider for admission, known as the cutoff. It is only after clearing the cutoff that the candidates can expect the admission process for that particular college to proceed further. With the exact cutoff details in mind, students can prepare accordingly and will know prior to applying whether the target college will accept their application or not. 

Comparison of Top MBA Colleges in Maharashtra

The strong industry presence makes Maharashtra one of the most preferred states for candidates to pursue an MBA. Moreover, the excellent career opportunities for students graduating from the most reputed universities in Maharashtra add to the perks of opting for an MBA in Maharashtra. Here’s a comparison of the top MBA colleges in Maharashtra based on certain factors such as tuition fees, accepted exams, and location. 

Frequently Asked Questions