MBA Colleges in Maharashtra

KEY FEATURES AT A GLANCE:

  • Introduction to Maharashtra in the field of business and government’s initiatives for all round development of business in the state.
  • Significance of Post Graduate Degree in Master of Business Administration to the Business World in Maharashtra.
  • Top Private and Government MBA colleges/Universities in Mumbai, Pune, and other major Cities in Maharashtra, as per rankings awarded by different top Agencies in India.
  • Course fee vis-à-vis Return on Investment (ROI).
  • Eligibility Criteria for admission to MBA post graduate degree in Maharashtra.
  • Process of admission – Entrance Examinations and cut offs.
  • Details of Specializations offered by TOP MBA Colleges/Universities in Maharashtra.
  • Placements for MBA candidates in top MBA Colleges/Universities.

This article is aimed at providing sufficient data to the potential candidates who intend to pursue 2 year Post graduate Degree in MBA in top Colleges/Universities in Maharashtra state, so that there will be no impasse before selecting the right college at the right time.

Introduction to Maharashtra:

Maharashtra popularly known as “The Gateway of India” is one of India’s biggest Commercial and Industrial Centres and emerged as a key hub for Information Technology (IT) and IT enabled Service (ITeS), electronics and captive business outsourcing Industries.  Maharashtra has 16 Airports and 2 major and 48 minor Sea Ports.  This state has a well-developed social, physical, and industrial infrastructure. Mumbai, capital of Maharashtra is popularly known as the Financial Capital of India which houses Headquarters of major Banks, Financial Institutions, Insurance companies and Mutual funds, besides India’s oldest and largest stock exchange viz., Bombay stock Exchange is also located here.  Maharashtra is a leader among Indian states in terms of agricultural and industrial production, trade and transport, and education

The Ease of Doing Business (EoDB) initiative by Government of Maharashtra is intended to foster further conducive business environment for the new as well as existing businesses/ industries/ commercial establishments etc.  resulting in record growth of business in Mumbai and other cities of Maharashtra in the recent past.

Significance of MBA degree in the business field in Maharashtra:

The Pro-business initiatives of Maharashtra Government resulted in enhanced growth of business in Mumbai and other Cities of Maharashtra in the recent past.  Such multi-pronged plans of Government of Maharashtra have unlocked opportunities from big Business Houses/Industries/IT Companies to the freshers of top MBA Colleges/Universities to secure befitting jobs and enabled candidates with experience to scale to new heights in their career after passing MBA from the top MBA colleges/Universities in Maharashtra.  There are about 576 recognized MBA colleges/Universities (522 Private and about 54 Government) spread over in various cities like Mumbai, Pune, Nagpur etc., providing ample opportunities to the aspiring candidates to pursue MBA Degree.

Top MBA Colleges/Universities in Maharashtra as per rankings awarded by top Agencies:

Master of Business Administration (MBA) is a 2-year Master’s degree after completion of Bachelor’s degree in any discipline. There are several Agencies who award rankings to Top MBA Schools/Universities in India every year.  We have provided agency-wise rankings in the tables below:

NIRF (National Institutional Ranking Framework), a popular Agency approved by the MHRD (Ministry of Human Resource Development) to rank institutions of higher education in India based on 5 (five) Parameters – Teaching, Learning and resources, research and professional practices, graduation outcomes, outreach and inclusivity and perception.  Hence, rankings awarded by NIRF assumes importance to know the top MBA Colleges in Maharashtra to make a choice. The following table provides the same.

TOP MBA SCHOOLS/UNIVERSITIES IN MAHARASHTRA STATE - NIRF RANKING 2021 (1-75)

Sl.No.

Name of the School/University

City

NIRF'21 Rank 

01

Indian Institute of Technology (IIT)

Mumbai

10

02

National Institute of Industrial Engineering

Mumbai

12

03

S.P.Jain Institute of Management & Research

Mumbai

19

04

Symbiosis Institute of Business Management

Pune

20

05

SVKM’s Narsee Monjee Institute of Management Studies.

Mumbai

22

06

Indian Institute of Management (IIM)

Mumbai

40

07

K.J.Somaiya Institute of Management

Mumbai

56

08

Bharathi Vidyapeeth’s Institute of Management and Entrepreneurship Development.

Pune

69

09

Principal L.N.Wellingkar Institute of Management and Entrepreneurship Development.

Mumbai

72

TOP MBA SCHOOLS/UNIVERSITIES IN MAHARASHTRA STATE AS PER ALL INDIA NIRF RANKING 2021 (76-100)

 

The objective of Times B School research is to arrive at a list of top business schools offering full time 2-year management courses in India. The research consists of 3 major modules (1) Desk Research (2) Factual survey (3) Perceptual Rating survey. After the data is collected, a methodical analysis will be carried out to rate the various B schools that participated in the survey/study.

TOP MBA SCHOOLS/UNIVERSITIES IN MAHARASHTRA STATE AS PER TIMES B SCHOOL ALL INDIA RANKING 2021.

Sl.No.

Name of the School/University

City

Rank

01

K.J.Somaiya Institute of Management

Mumbai

07

02

Symbiosis Institute of Business Management

Pune

10

03

Sri Balaji University (BIMHRD, BHB, BIMM, BITM)

Pune

 11

04

International School of Business & Media (ISB & M)

Pune

15

05

Dr.D.Y.Patil B School

Pune

20

06

Lexicon Management Institute of Leadership and Excellence

Pune

20

07

SIES College of Management Studies

Mumbai

22

08

N.L.Dalmia Institute of Management Studies and Research

Mumbai

23

09

International Institute of Management Studies

Pune

25

10

Universal Business School

Mumbai

26

11

IIEBM, Indus Business School

Pune

27

12

MET Institute of Management

Mumbai

28

13

ITM Business School

Navi Mumbai

28

14

Pune Institute of Business Management

Pune

32

15

Dr.Viswanath Karad MIT World Peace University School of Management

Pune

36

16

Suryadatta Institute of Management

Pune

37

17

Durga Devi Saraf Institute of Management Studies

Mumbai

41

18

Nest Academy and Even Management and Development (NAEMD)

Mumbai

42

19

Amity Business School

Mumbai

49

20

Aditya Institute of Management Studies and Research

Mumbai

58

21

Dr.Y.Patil University School of Management

Mumbai

69

22

IBSAR

Navi Mumbai

73

23

Global Business School and Research Centre

Pune

79

24

Lala Lajpatrai  Institute of Management

Mumbai

82

25

Sasmira’s Institute of Management Studies and Research

Mumbai

84

26

Symbiosis Centre for Information Technology

Pune

94

27

Alard Institute of Management Sciences

Pune

99

TOP MBA COLLEGES/UNIVERSITIES IN MUMBAI, FEES STRUCTURE AND ROI

Return on Investment (ROI) is a popular profitability metric used to evaluate how well an investment has performed.  In the undermentioned table, we have also added another column to show “returns” through average annual pay package a student/aspirant is expected to get through placements (campus or directly with experience) from top IT and other Multinational companies in India, against the fees he/she payable to the top MBA Colleges in Maharashtra. 

TOP MBA COLLEGES/UNIVERSITIES ESTIMATED FEE STRUCTURE AND ROI, MUMBAI

Sl.No.

Name of the School/University

Govt/Private

Fees (Rupees in Lakhs)

ROI (Rupees in Lakhs)

01

Indian Institute of Technology (IIT)

Govt

8.27

17.91

02

National Institute of Industrial Engineering

Govt

12.53

49.0-25.1

03

S.P.Jain Institute of Management & Research

Private

16.25

32.05

04

SVKM’s Narsee Monjee Institute of Management Studies.

Private

10.0-18.00

15.09

05

Indian Institute of Management (IIM)

Govt

11.0-28.0

18.91

06

K.J.Somaiya Institute of Management

Private

18.78

14.62

07

Principal L.N.Wellingkar Institute of Management and Entrepreneurship Development

Private

18.50

8.75

08

Amity Business School

Private

6.8

5.63

09

Vivekanand Education Society’s Institute of Management studies and Research

Private

4.43

8.0

10

SIES college of Management Studies

Private

5.20

7.04

TOP MBA COLLEGES/UNIVERSITIES ESTIMATED FEES STRUCTURE AND ROI PUNE AND NAGPUR

Sl.No.

Name of the School/University

Govt/

Private

Fees (Rupees in Lakhs)

ROI (Rupees in Lakhs)

01

Symbiosis Institute of Business Management, Pune

Private

12.18-15.76

20.80

02

Bharathi Vidyapeeth’s Institute of Management and Entrepreneurship Development, Pune.

Private

3.0

6.80

03

Balaji Institute of Management and HRD, Pune

Private

4.48

6.0

04

Pune Institute of Business Management, Pune

Private

7.95

6.5

05

Institute of Business Management, Nagpur.

Govt

2.36

13.21

Eligibility Criteria and Process of admission in top MBA Colleges/Universities in Maharashtra State:

  • A citizen of India
  • Must have passed a bachelor’s degree of 3 years from a recognized university/college or equivalent.
  • 50% minimum marks (45% for reserved categories) in their qualifying examination.
  • Candidates who are in the final year of their graduation can also apply provided necessary proof to be submitted as required.
  • Appearing for Group Discussion (GD) and Personal Interview (PI) are necessary.

Process of admission to MBA by top MBA Colleges in Maharashtra State    

The admission to MBA in Maharashtra state will be offered based on entrance exam which are conducted on various levels. Candidates can appear in the national level and the university level entrance exam and get admission. 

Following are the Common Entrance Tests considered by top MBA Colleges/Universities in Maharashtra state for admission to 2 year post graduate degree in Master of Business Administration (MBA). 

MHT CET        - Maharashtra Common Entrance Test – MHT CET is a state level Examination conducted by Maharashtra State Government.

Other Common Entrance Examinations which are considered by top MBA Colleges and Universities in Maharashtra state are:

Common Admission Test (CAT)

CAT is the mandatory computer based Common Admission Test for admission to MBA/PGDM programmes in 20 Indian Institutes of Management (IIMs) and other top MBA colleges in India. It is the largest national level MBA entrance test in India.

Xavier Aptitude Test (XAT)

XAT is an online CBT (computer based) management entrance exam for admission to MBA/PGDM courses offered by XLRI Jamshedpur, XIMB Bhubaneswar, SPJIMR Mumbai, IMT Ghaziabad, etc along with other 156 management institutes the country.

Common Management Admission Test (CMAT) :

CMAT is a National Level Entrance Examination for admission to Management Programme(s) in the country which is considered by top MBA Colleges/Universities in Maharashtra State

Management Aptitude Test (MAT)

MATis a standard aptitude test conducted in India since 1998 by the All-India Management Association (AIMA). MAT is used for admission to MBA and allied programmes by over 600 business schools across India including top MBA Schools/Universities in Maharashtra state.

AIMS Test for Management Admissions (ATMA)

AIMS Test for Management Admissions or ATMA is a national-level exam conducted by the Association of Indian Management Schools (AIMS) for admission to MBA, PGDM, MCA and PGDBA courses.

Graduate Management Admission Test (GMAT)

GMAT is the first and only standardized exam specifically designed for admission to graduate business and management programs. It sets the standard to predict   academic performance of aspiring candidates in today's graduate management programs.  Top MBA Schools/Universities trust this examination for admission to MBA degree.

Cut off percentile in top MBA Colleges/University in Maharashtra:

It is essential to understand what percentile means?  As an example, let us take CAT percentile calculated in MBA.  R= Rank assigned to the candidate ‘X’ based on scaled CAT score or total number of candidates who ranked below ‘X’.  Presume 1,000 candidates appeared CAT and ‘X’ bagged the top rank, which means 999 candidates scored less than ‘X’. Then ‘X’ percentile will be 999/1000 x 100= 99.9.

MAH CET Cut off 2021 – this refers to the minimum marks required by the candidates to quality for the admission process in the respective MBA college/University.  Based on the composite score of the candidate, respective college/University shall prepare final Merit List round wise and category-wise. Candidates aspiring for admission to top MBA colleges/Universities in Maharashtra, which are accepting MAH MBA CET must aim for a 99+ percentile or 99.5+ percentile in the Common Entrance Test. To achieve this, candidates must aim for a minimum score of 95+ or 100+ in the exam.

Please click here to view 2021 college-wise cut off percentile of top MBA Schools/Colleges in Maharashtra.

SPECIALIATIONS OFFERED IN TOP MBA COLLEGES/UNIVERSITIES IN MAHARASHTRA:

After knowing the Top MBA Colleges/Universities in Maharashtra and separately for Mumbai, Pune and Nagpur, Course Fee, ROI, eligibility criteria, we will now discuss on the various top MBA Specialization/Branches offered in MBA post-graduate degree in Maharashtra.  Following are the top trending Specializations/Branches of MBA in Maharashtra.

Finance

This specialization/Branch in MBA in the field of Finance includes various facets like investments, portfolio management, derivative securities, capital markets, corporate finance, international finance, and financial institutions behaviour, Advertising etc.,

Operations and Production Management:

This offers advanced knowledge on various facets of business practices, auditing, tax laws, exposures the candidates on organizational efficiency, business valuations and management of innovations

Marketing Management

This is one of the most opted and topmost specializations of MBA, which focusses on advanced concepts of Marketing viz., Digital Marketing, Consumer behaviour, Advertising etc.,

Business Analytics

This is also one of the most popular MBA specializations which deals with Core business Fundamentals and gets training to consider business from a data-driven perspective.  It has multi-faceted exposure to various fields in business analytics like Artificial Intelligence & Deep Learning, Multivariate Data Analysis, Business Analytics and Intelligence, business Forecasting, Social Entrepreneurship, Marketing Analytics.

IT Management

This subject broadly enables the candidates to improve their skills that needed to manage both IT systems and employees, in-depth business knowledge, information security, telecommunications, and IT project management.

Human Resource Management

This specialization deals with recruitment, management, offers training and empowers knowledge in managing the workforce of an organisation with appropriate direction and guidance.

Supply Chain Management

This enables the candidates to get exposure to Company Resource Planning, Global Trade, Inventory Management, Retail, Risk Management, Sales and Operations Planning, Sourcing and Procurement and supply chain optimization

Health Care Management

This has assumed importance in the recent past, with various Corporate Hospitals and Multinational pharmaceutical companies are looking for MBA candidates having this specialization.  This course includes subjects such as Principles of Healh Service Management, Organization Behavior, Materials and Equipment Management, Health Economics, and Strategic Human Resource Management.

International Business Management

This is one of the topmost in MBA specializations, being unique and focusses on the subjects like Foreign Trade Finance and Forex Risk Management, Foreign Trade Policy, Export Management and trains the candidates on various procedure and documentation involved in export and import, methods of approaching customers in foreign countries, currency conversation & fluctuation, raising capital from the international market, and distribution market.

Agriculture Business Management

This specialization has assumed importance in the recent past with the focus of successive Governments on the agriculture field. This top MBA specialization mainly focusses on the business areas of agricultural production and global trade.  This specialization also deals with Agriculture food policy, Agriculture Finance, Marketing, Strategic Food marketing, Management for Agribusiness Projects, Market Research, and Information system.

Placements/Topmost Recruiters of MBA Postgraduates in Maharashtra:

In Maharashtra state, many Multinational and IT Companies of India recruit experienced Techies and fresh MBA degree holders from the above top Colleges/Universities from Maharashtra, especially from Mumbai and Pune. Salary package being offered depends on the specialization in MBA and previous experience.

For the benefit of the aspirants to pursue MBA degree, brief details of top Multinational and IT Companies in the world and in India that recruit freshers of MBA degree holders are depicted below:

AMAZON:

Amazon is an American cloud computing company in the E-Commerce business network founded in 1994 based on Seattle, Washington, USA.  It is the 4th largest company in the world with a market capital to the tune of USD  1.696 trillion.  It is a largest and most successful retailer in the world and in India.  Average annual salary offered is Rs.1.9 to 3.5 Lakhs in India to MBA qualified graduates in India.

APPLE:

Apple is an American multinational technology company, with its Headquarters located in Cupertino, California, USA established in 1984.  This is a prominent hardware and software company best known for its series of personal computers, the iPods, and its innovative marketing strategies for its products.  This company recruits MBA graduates from the top Colleges/Universities from Maharashtra state, every year and offer an average annual salary package of ?6,16,285 - ?6,71,871.

BOSTON CONSULTING COMPANY (BCG):

Boston Consulting Group (BCG) is an American global management consulting firm founded in 1963, with its Headquarters located at Boston, Massachusetts. One of the biggest consulting companies in the world and the fastest growing strategy consulting firm in India. A Senior Consultant in BCG receives a salary package of 2 to 3 Lakhs per annum, while a junior or fresher gets less than this, but attractive pay package.

JP MORGAN:

JP MORGAN is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. leaders in investment banking, financial services for consumers and small business, commercial banking, financial transactions processing and asset management.  In India, they offer comprehensive trade finance solutions to corporate clients.  Their salary package offered to the fresh MBA graduates from top Colleges/Universities in Maharashtra ranges between Rs.2.26 to 8.41 Lakhs.

GOOGLE:

Google is an American search engine company founded in 1998, currently providing more than 50 Internet services and products from e-mail and online document creation to software for mobile phones and tablet computers. This company works with a mission to organise the world’s information and make it universally accessible and useful to the clientele.   This company offers annual remuneration ranging between ? 10 Lakhs to ? 98 Lakhs to the fresh/experienced MBA graduates from the top MBA colleges/universities in Maharashtra.

DELOITTE:

Deloitte is a leading global provider of Audit and Assurance, Consulting, Financial Advisory, Risk Advisory, Tax, and related services to select Clientele.   Fresh MBA graduates can expect an annual remuneration starting from Rs.3.85 Lakhs.

ACCENTURE:

Accenture is a leading IT solutions company and a BPO provider.  It offers cutting-edge outsourcing services in consulting, digital technology, and business operations, specialises in Information Technology services. This company has a global presence across 120+ countries.  In India, Accenture helps redesign business processes and develops and deploys a digital platform to improve operational performance.  Annual pay package offered to fresh MBA graduates from top MBA colleges/Universities in Maharashtra shall start from Rs.3.21 lakhs.

MORGAN STANLEY:

Morgan Stanley is a leading global investment bank and wealth management firm. The company makes money primarily from three main units: institutional securities, wealth management, and investment management. This Company provides services to Corporations, Governments, large Private Financial Institutions, and High-net-worth Individuals (HNWIs).  This company employs MBA graduates every year with annual package starting from Rs. 6.1 Lakh depending upon the role applied for.

T.KEARNY :

A.T.Kearny, a  global management consulting firm  has consistently earned top places among global management consulting firm ranking.  For more than two decades, Kearney has been a trusted advisor to top-notch organizations across India. Bound by a culture of collaboration and excellence, Kearny provides innovative and precise solutions, both long-term and short-term benefits to its clients.  This company offers to MBA graduates from the top most MBA Colleges and Universities in Maharashtra, annual pay package starting from Rs.5 Lakhs.

MICROSOFT:

Microsoft Corporation is a leading developer of personal-computer software systems and applications. The company also publishes books and multimedia titles, produces its own line of hybrid tablet computers, offers e-mail services, and sells electronic game systems and computer peripherals (input/output devices). Microsoft in India offers its global cloud services from local data centres to accelerate digital transformation across Indian start-ups, businesses, and government agencies.  This company recruits candidates with MBA background every year from top MBA colleges and Universities in Maharashtra and offers an annual salary package starting from Rs.10 L to 14 L, depending upon the role they are selected for.

Following are the Indian Multinational /IT Companies that also recruit MBA candidates from the top MBA colleges and Universities in Maharashtra.

Tata Consultancy Services (TCS), Reliance Industries Limited (RIL), Cognizant Technology Solutions (CTS), WIPRO, Infosys, ICICI Bank etc.,

To motivate the prospective students who intend to pursue MBA degree in topmost MBA colleges in Maharashtra and to seek suitable placements in those Companies, the following latest information is provided with respect to top Indian Companies that were listed in the top 500 companies in the World, as per “Brand Finance” Global 500 2022. Every year, Brand Finance puts 5,000 of the biggest brands to the test, evaluating their strength and quantifying their value, and publishes nearly 100 reports, ranking brands across all sectors and countries.  Majority of these top ranked Indian Companies also offer suitable placements to graduates from top MBA colleges/Universities in Maharashtra, in their respective companies every year.

List of Indian Companies and their world’s rank (top 500) as per “Brand Finance” Global 500 2022.     

Sl.No

Name of the Company

World Rank

01

TATA

78

02

INFOSYS

158

03

L.I.C.

179

04

RELIANCE

236

05

AIRTEL

269

06

S.B.I

279

07

H.D.F.C. BANK

319

08

WIPRO

350

09

MAHINDRA GROUP

364

10

H.C.L.

369

11

L & T

417

12

INDIAN OIL

448

13

RELIANCE JIO

451

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Estd:1958

Indian Institute of Technology(IIT) Bombay

Mumbai, Maharashtra
NIRF RANKING
#11
Type: Autonomous
Facilities
Estd:1964

Bharati Vidyapeeth

Pune, Maharashtra
4.5
1 Reviews
NIRF RANKING
#102 - 125
Type: Deemed to be University
Facilities
Estd:1964

Bharati Vidyapeeth

Pune, Maharashtra
4.5
1 Reviews
NIRF RANKING
#102 - 125
Type: Deemed to be University
Facilities
Estd:2005

D. Y. Patil Education Society

Kolhapur, Maharashtra
Type: Deemed to be University
Facilities
Estd:2005

Datta Meghe Institute of Medical Sciences

Wardha, Maharashtra
NIRF RANKING
#54
Type: Deemed to be University
Facilities
Estd:2005

Datta Meghe Institute of Medical Sciences

Wardha, Maharashtra
NIRF RANKING
#54
Type: Deemed to be University
Facilities
Estd:2003

Dr. D. Y. Patil Vidyapeeth

Pune, Maharashtra
NIRF RANKING
#72
Type: Deemed to be University
Facilities
Estd:2003

Dr. D. Y. Patil Vidyapeeth

Pune, Maharashtra
NIRF RANKING
#41
Type: Deemed to be University
Facilities
Estd:2002

DY Patil University

Mumbai, Maharashtra
Type: Deemed to be University
Facilities
Estd:1981

SVKM`s NMIMS Deemed to be University

Mumbai, Maharashtra
3.5
1 Reviews
NIRF RANKING
#55
Type: Deemed to be University
Facilities
Estd:1981

SVKM`s NMIMS Deemed to be University

Mumbai, Maharashtra
3.5
1 Reviews
NIRF RANKING
#55
Type: Deemed to be University
Facilities
Estd:2002

Symbiosis International

Pune, Maharashtra
4.3
2 Reviews
NIRF RANKING
#32
Type: Deemed to be University
Facilities
Estd:2002

Symbiosis International

Pune, Maharashtra
4.3
2 Reviews
NIRF RANKING
#32
Type: Deemed to be University
Facilities
Estd:1936

Tata Institute of Social Sciences

Mumbai, Maharashtra
NIRF RANKING
#60
Type: Deemed to be University
Facilities
Estd:1921

Tilak Maharashtra University

Pune, Maharashtra
Type: Deemed to be University
Facilities
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