Mumbai, the financial capital of India, is home to some of the country’s most prestigious
business schools. These institutions have carved a niche for themselves by offering world-class
management education, strong industry connections, and exceptional placement
opportunities. Below is a curated list of the top B-schools in Mumbai, ranked based on their
NIRF 2024 rankings (where applicable), academic excellence, and career outcomes.
1. IIM Mumbai
NIRF Ranking: 6
Formerly known as NITIE, IIM Mumbai was established in 1963 by the Government of India.
Renowned for its expertise in Operations and Supply Chain Management, the institute also
offers specializations in Analytics, Finance, Marketing, HR, IT, and Sustainability Management.
Programs Offered: MBA, MBA (Operations and Supply Chain Management), MBA
(Sustainability Management)
Duration: 2 years
Entrance Test Accepted: CAT
Fees: ₹21 lakhs
Average Placement Salary: ₹33 lakhs per annum
2. Shailesh J. Mehta School of Management (IIT Bombay – SJMSOM)
NIRF Ranking: 10
SJMSOM, established in 1995 under the aegis of IIT Bombay, combines technical expertise with
managerial acumen. Known for its focus on technology management, the program includes
unique courses like Technology Policy, R&D Management, and Managing Technology Transfer.
Programs Offered: MBA
Duration: 2 years
Entrance Test Accepted: CAT
Fees: ₹21 lakhs
Average Placement Salary: ₹33 lakhs per annum
3. S. P. Jain Institute of Management and Research (SPJIMR)
NIRF Ranking: 20
Established in 1981, SPJIMR is one of India’s most prestigious B-schools, consistently ranked
among the top management institutes. With a strong alumni network of 15,000+ professionals
holding leadership roles globally, SPJIMR emphasizes experiential learning and innovation.
Programs Offered: Post Graduate Diploma in Management (PGDM), PGDM (Business
Management)
Duration: 2 years
Entrance Test Accepted: CAT/GMAT
Fees: ₹22.5 lakhs
Average Placement Salary: ₹30 lakhs per annum
4. NMIMS School of Business Management (SBM)
NIRF Ranking: 21
Founded in 1981, NMIMS SBM is one of Mumbai’s premier private business schools. It offers a
wide range of MBA specializations, including Finance, Marketing, HR, and Pharmaceutical
Management.
Programs Offered: MBA, MBA (HR), MBA (Pharmaceutical Management), and more
Duration: 2 years
Entrance Test Accepted: NMAT
Fees: ₹22 lakhs
Average Placement Salary: ₹25 lakhs per annum
5. Jamnalal Bajaj Institute of Management Studies (JBIMS)
Established in 1965, JBIMS is often referred to as the “CEO Factory” due to its legacy of
producing industry leaders. Consistently ranked among the top 10 B-schools in India, JBIMS
offers a strong return on investment with its affordable fees and excellent placements.
Programs Offered: MMS (Master of Management Studies)
Duration: 2 years
Entrance Test Accepted: MAH-CET, CAT, CMAT
Fees: ₹6 lakhs
Average Placement Salary: ₹26 lakhs per annum
6. Tata Institute of Social Sciences (TISS)
TISS, established in 1936, is renowned for its focus on the human aspect of organizations. It is
one of the best B-schools for Human Resource Management but has expanded to offer other
specializations as well. Known for its affordability and strong ROI, TISS is a preferred choice for
many.
Programs Offered: MA in Human Resource Management & Labour Relations, MA in
Organisation Development, Change and Leadership, and more
Duration: 2 years
Entrance Test Accepted: CAT
Fees: ₹1.85 lakhs
Average Placement Salary: ₹20 lakhs per annum
7. BITS School of Management (BITSoM)
A relatively new entrant, BITSoM was established in 2021 under the prestigious BITS Pilani
umbrella. Despite its recent inception, it has quickly gained recognition for its rigorous
curriculum and strong industry connections.
Programs Offered: MBA
Duration: 2 years
Entrance Test Accepted: CAT, GMAT, GRE
Fees: ₹28.55 lakhs
Average Placement Salary: ₹23 lakhs per annum
8. Sydenham Institute of Management Studies, Research and Entrepreneurship
Education (SIMSREE)
SIMSREE, established in 1983, has built a reputation for nurturing future business leaders and
entrepreneurs. Affiliated with the University of Mumbai, it offers affordable management
education with a strong focus on research and innovation.
Programs Offered: MMS (Master of Management Studies)
Duration: 2 years
Entrance Test Accepted: MAH-CET, CAT, CMAT, MAT, ATMA
Fees: ₹69,000
Average Placement Salary: ₹15 lakhs per annum
9. K J Somaiya Institute of Management
NIRF Ranking: 63
Established in 1981, KJ Somaiya is known for its niche MBA programs in Hospital Management
and Sports Management, alongside its general management offerings. It provides a diverse
learning environment with a focus on practical exposure.
Programs Offered: MBA, MBA (Hospital Management), MBA (Sports Management)
Duration: 2 years
Entrance Test Accepted: CAT, XAT, GMAT, NMAT, CMAT
Fees: ₹22 lakhs
Average Placement Salary: ₹14 lakhs per annum (Top 300 students)
10. Prin. L.N. Welingkar Institute of Management Development and Research
(WeSchool)
NIRF Ranking: 84
Founded in 1977, WeSchool is one of Mumbai’s older management institutes. It offers a variety
of niche specializations, including E-Business, Retail, and Healthcare, alongside traditional
management programs.
Programs Offered: MMS, PGDM, PGDM (Retail), and more
Duration: 2 years
Entrance Test Accepted: CAT, XAT, GMAT, ATMA, CMAT, MAH-CET
Fees: ₹69,000 (MMS) to ₹14 lakhs (PGDM)
Average Placement Salary: ₹13 lakhs per annum
Conclusion
Mumbai’s B-schools offer a diverse range of programs, catering to various career aspirations
and specializations. Whether you’re looking for a strong ROI, niche specializations, or a legacy
institution, Mumbai’s management institutes provide ample opportunities to shape your career
in the corporate world. Choose wisely based on your goals, budget, and preferred area of
expertise!