Maharashtra, the land is home to booming industries and vibrant campus life- offers some of India’s best MBA programmes. From government-backed IIMs to premier private institutes, there are numerous options for MBA course in Maharashtra. Choosing the right MBA colleges in Maharashtra means balancing prestige, placements and cost. In this guide we profile the top MBA colleges in Maharashtra, covering public and private B-schools, their rankings, placement stats, ROI, approvals and industry links. We include detailed highlights and a comparison table so you can pick the best fit for your MBA dreams.

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List of Best MBA Colleges in Maharashtra

S. No	MBA Colleges in Maharashtra
1	Indian Institute of Management (IIM) Nagpur
2	Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai
3	Symbiosis Institute of Business Management (SIBM), Pune
4	S. P. Jain Institute of Management and Research (SPJIMR), Mumbai
5	KJ Somaiya Institute of Management, Mumbai
6	Institute of Management Technology, Nagpur
7	Welingkar Institute of Management, Mumbai

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Overview of Colleges Offering MBA in Maharashtra: Admission & Placement Statistics

If you are looking for the best MBA colleges in Maharashtra, it is advisable to check the detailed admission process, eligibility, fee and placement statistics. Below, we have provided detailed information for some of the renowned MBA colleges in Maharashtra. 

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Indian Institute of Management (IIM) Nagpur

A newer IIM (est. 2015) quickly rose up the national ranks to an NIRF 2025 rank of 25. Its sprawling green campus has modern facilities, including high-speed Wi-Fi, a sports complex (with tennis, basketball courts), and state-of-the-art classrooms. Hostel rooms are single-occupancy with amenities. As an IIM, it operates under the IIM Act (UGC-recognised) rather than AICTE.

Admission to IIM Nagpur’s MBA is through the CAT exam, followed by the institute’s shortlisting process that includes a Written Ability Test (WAT) and Personal Interview (PI). The final selection is based on CAT score, past academic performance, work experience, diversity factors, and interview performance.

IIM Nagpur Placement Statistics

IIM Nagpur’s recent MBA placements have been strong. The highest domestic package in 2025 was ~₹69.57 LPA, with an average of around ₹18.07 LPA . Leading recruiters (Amazon, Microsoft, Deloitte, etc.) participate; about 100 companies recruit each year (89 new recruiters joined in 2025). 

Placement Metric	Details
Highest Domestic Package	₹69.57 LPA
Average Package	₹18.07 LPA
Number of Recruiters	100+ (including 89 new recruiters)
International Offers	4
Top Recruiters	Amazon, Microsoft, Deloitte, TCS, Infosys, HCL, Accenture

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Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai

Founded in 1965 and affiliated to Mumbai University, JBIMS is an iconic public B-school located in Churchgate’s heritage campus (red-brick building with a library of 40,000+ books. It  enjoys a strong “CEO factory” reputation in Mumbai and thus is extremely popular. As a University of Mumbai department, JBIMS follows UGC norms and is accredited by the state university. (It does not fall under AICTE since it’s a university programme.)

JBIMS accepts candidates primarily through the MAH-CET exam conducted by the State CET Cell, Maharashtra. It also considers scores from CAT, CMAT, and MAT (as per DTE rules). Shortlisted candidates participate in a Centralized Admission Process (CAP) round conducted by the Directorate of Technical Education (DTE), after which final allotment is made.

JBIMS MBA Placements

JBIMS boasts outstanding placements in Mumbai’s core sectors. In 2024 its Master’s (MMS) batch saw an average salary around ₹26 LPA and a highest package of ₹87.12 LPA . Even more remarkable is JBIMS’s ROI –  Forbes reports an ROI of ~459% (given low fees vs high salaries) . Top recruiters include major banks, consulting firms and FMCG companies. The campus sees 100% placement drive every year.

Placement Metric	Details
Highest Package	₹87.12 LPA
Average Package	₹26.10 LPA
Placement Rate	100%
ROI (Return on Investment)	~459% (one of the best in India)
Top Recruiters	McKinsey, Accenture, HDFC Bank, Asian Paints, Deloitte, Citibank

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Symbiosis Institute of Business Management (SIBM), Pune

Another institute included in the list of top MBA colleges in Maharashtra is SIBM Pune (a Deemed University with NAAC A++ grade), SIBM Pune is consistently top-ranked as per NIRF ranking. Its Lavale hilltop campus (Symbiosis Knowledge Village) is scenic and self-contained, with a 600-seat auditorium, convention centre, hostels, libraries and a large sports complex (cricket ground, basketball court, Olympic-size pool, gym and more ).

Programs & Approval: SIBM Pune offers a full-time MBA (NBA-accredited as of 2025 ) with specialisation tracks. As an SIU constituent, its programmes are recognised by UGC and AIU (it doesn’t need AICTE since it’s a university degree). Symbiosis also hosts management conferences and corporate events, giving students exposure.

Faculty & ROI: Symbiosis attracts a blend of academic and corporate faculty. Combined with a vigorous curriculum and co-curricular clubs, students gain leadership skills (Symbiosis has numerous incubators and E-cells). Total MBA fees are around ₹14–15 lakh for two years , yielding a strong ROI given placement packages often near ₹30 LPA.

SIBM Pune is part of Symbiosis International (Deemed University), and admissions are conducted via the SNAP exam. Candidates clearing the cutoff are invited for Group Exercise (GE), Personal Interaction (PI), and a Written Ability Test (WAT). Final selection is based on SNAP scores, overall performance, and profile evaluation. 

SIBM Pune MBA Placement

Placements at SIBM-Pune are excellent. For the 2022–24 batch, the average package rose to ~₹28.16 LPA, with the highest at ₹49 LPA (a 40% jump from ₹35 LPA the previous year) . Over 100 recruiters visit, including multinationals like Barclays, EY, Infosys, Accenture and HDFC Bank . Many students receive PPOs (pre-placement offers) and internships pay well too.

Placement Metric	Details
Highest Package	₹49.00 LPA
Average Package	₹28.16 LPA
Placement Rate	Nearly 100%
Pre-Placement Offers (PPOs)	High number across sectors
Top Recruiters	Barclays, EY, Infosys, Accenture, HDFC Bank, Deloitte

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S. P. Jain Institute of Management and Research (SPJIMR), Mumbai

SPJIMR (Mumbai) is a top private B-school under the Bharatiya Vidya Bhavan group. It has prestigious AICTE approvals (Category-I autonomy until 2024) and NBA accreditation. NIRF 2024 placed SPJIMR at #20 . The campus near Andheri is green and urban, with modern classrooms, a library and an executive conference hall.

Programs & Approvals: SPJIMR offers a flagship 2-year PGDM (MBA equivalent) with electives in Finance, HR, etc., plus specialised tracks (Family Managed Business, Development Management). All programs are AICTE-approved (PGDM, PGPM, etc.) , and NBA-accredited through 2028 .

Faculty & ROI: The faculty is known for research and industry experience. With total fees ~₹22.5 lakh for the PGDM, SPJIMR’s ROI is solid given its placement record. It also has global immersion options (exchange programs) which enhance its value proposition.

SPJIMR accepts applications through CAT and GMAT scores. Candidates must also submit a detailed application form highlighting academic record, work experience, and achievements. Shortlisted candidates undergo group interviews and case-based discussions. The final merit list balances test scores, academic record, work experience, and interview performance.

SP Jain MBA Placements

SPJIMR regularly achieves high salary figures. For the 2024 PGDM class, the average package was ₹33 LPA and the highest ₹81 LPA . (Median was ~₹31.5 LPA.) Over 70 companies recruited, including 33 new ones, in sectors like FMCG, consulting, BFSI and tech . The robust corporate ties are aided by an active alumni network and industry mentorship programmes.

Placement Metric	Details
Highest Package	₹81.00 LPA
Average Package	₹33.00 LPA
Median Package	₹31.50 LPA
New Recruiters	33+
Top Recruiters	BCG, Deloitte, HUL, Amazon, JPMorgan Chase

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KJ Somaiya Institute of Management, Mumbai

A well-known Mumbai University–affiliated private college (under Somaiya Vidyavihar), KJ Somaiya Institute offers an excellent MBA course in Maharashtra. It holds NAAC accreditation (grade A) and caters to a large intake (600+ seats). The sprawling campus (Somaiya Vidyavihar, Vidyavihar) includes modern academic blocks, sports facilities and hostels.

Programs & Accreditation: KJSIM offers general MBA, MBA in Healthcare Management, and MBA-Sports Management. Tuition fees total ~₹22.3 lakh for two years . Faculty mix includes veteran scholars and visiting executives. Industry ties are fostered via guest lectures and corporate projects, and the campus hosts recruiting fairs. This gives graduates good ROI.

KJ Somaiya accepts scores from CAT, XAT, CMAT, GMAT, and NMAT. Candidates are shortlisted based on entrance exam performance, followed by Group Discussions (GD) and Personal Interviews (PI). The final selection considers entrance test score, academics, achievements, and interview performance.

KJ Somaiya MBA Placements

Somaiya’s MBA placements are strong for Mumbai standards. The 2022–24 MBA batch saw a highest package of ₹28.25 LPA and a median of ~₹12 LPA . Reports note an average salary of about ₹15.7 LPA . Over 140 companies recruit each year (e.g. Accenture, Morgan Stanley, HDFC Bank, etc. appear frequently ). Many students get roles in finance, marketing and IT.

Placement Metric	Details
Highest Package	₹28.25 LPA
Average Package	₹15.70 LPA
Median Package	₹12.00 LPA
Number of Recruiters	140+
Top Recruiters	Accenture, Morgan Stanley, HDFC Bank, PwC, ICICI Bank

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Institute of Management Technology, Nagpur

IMT Nagpur is the private branch campus of the IMT group (with flagship in Ghaziabad). It offers two-year PGDM programmes in General, Marketing and Finance. IMT Nagpur MBA course is fully AICTE-approved. The 27-acre suburban campus has air-conditioned classrooms, a knowledge center library, and hostel blocks.

ROI & Fees: IMT Nagpur’s fees for two years are ~₹15 lakh . Given rising salaries, ROI is attractive for a private college. IMT leverages its Delhi connections – top firms that recruit in NCR also visit Nagpur. The institute emphasizes industry-aligned curriculum (analytics labs, case competitions).

IMT Nagpur accepts candidates through CAT, XAT, CMAT, or GMAT scores. Shortlisted applicants are invited for Personal Interviews (PIs), either in person or online. The final merit list considers test scores, academic performance, work experience, and interview outcome.

IMT Nagpur Placement Statistics

IMT Nagpur’s placements have improved recently. The 2024 PGDM batch saw its highest offer jump ~80% to ₹36.33 LPA , with the top-10 average at ₹17.16 LPA. (Another source notes an average of ~₹11 LPA across the batch). Recruiters include big consulting and IT firms (Deloitte, EY, KPMG, Bata, etc.). About 84% of students were placed as of mid-2024, with a total of ~62 new recruiters.

Placement Metric	Details
Highest Package	₹36.33 LPA
Average Package	~₹11.00 LPA
Placement Rate	~84%
New Recruiters	62+
Top Recruiters	Deloitte, KPMG, Bata, EY, Infosys, Tech Mahindra

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Prin. L. N. Welingkar Institute of Management (WeSchool), Mumbai

WeSchool (Welingkar) is a private Mumbai B-school known for its innovative pedagogy. It offers PGDM degrees (Business Design, eBiz, Healthcare, etc.), and is AICTE-approved. Its Matunga campus has been revamped with modern amenities (computer labs, collaboration spaces, cafeteria).

Programs & ROI: Tuition is moderate at ₹7,00,000/year (total ~₹14 L for two years) . For this fee, an average salary ~₹12 LPA and peak ~₹40 LPA yields a decent ROI. Welingkar’s strength is industry focus – it boasts analytics and finance labs and a heavy emphasis on soft skills. It has NAAC accreditation and encourages entrepreneurship, which appeals to many students.

WeSchool accepts applications for its PGDM programs via CAT, XAT, CMAT, ATMA, GMAT, and MAH-CET. Shortlisted candidates are invited to appear for Group Discussions (GD) and Personal Interviews (PI). Selection is based on entrance test score, academic background, work experience, GD/PI performance, and overall profile.

Welingkar Placement Statistics

Welingkar’s placements are solid. For the 2023–24 PGDM batch, the overall average package was about ₹12.0–12.3 LPA and highest was ₹22–24 LPA (different tracks had highest ₹18–24 LPA). In 2025, an overall highest of ₹40 LPA was recorded (across specializations) . Key recruiters include Adani, Airtel, Amazon, Deloitte, Morgan Stanley and many more . In total, WeSchool hosts hundreds of companies each cycle (350+ recruiters ).

Placement Metric	Details
Highest Package	₹40.00 LPA
Average Package	₹12.00 LPA
Median Package	₹11.00 LPA
Number of Recruiters	350+
Top Recruiters	Adani, Airtel, Amazon, Deloitte, Morgan Stanley, Infosys

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Conclusion

Masters in Business Administration is one of the most popular PG degrees. Every year approximately 3 lakh students appear for different MBA entrance exams with the aim of getting admission to the best colleges. 

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FAQs

Q1. Which is the No. 1 MBA college in Maharashtra?

While rankings differ, IIM Nagpur, JBIMS Mumbai, SIBM Pune, and SPJIMR Mumbai are consistently considered the top B-schools in the state.

Q2. Which college gives the best ROI for MBA in Maharashtra?

JBIMS Mumbai is known for outstanding ROI because of its low fees and very high placement packages.

Q3. What entrance exams are accepted by these colleges?

Most institutes accept CAT scores (IIM Nagpur, SPJIMR, JBIMS, IMT Nagpur), while SNAP is required for SIBM Pune. Welingkar and KJ Somaiya also accept CMAT, XAT, NMAT, and MAT depending on the program.

Q4. What is the average salary package from top MBA colleges in Maharashtra?

On average, graduates earn ₹12–33 LPA depending on the college, specialization, and recruiter. SPJIMR, SIBM Pune, and JBIMS lead with the highest average packages.