An MBA has always been a lucrative post-graduation option for graduates of all fields. A degree from a top MBA institution can ensure placement and an excellent salary package. Mumbai is one of the top choices when it comes to an MBA degree because of its abundant private MBA colleges. Being located at the heart of the Indian business and economic hustle also serves as an advantage for students. These colleges offer world-class infrastructure and top-notch teaching methods.
Conventional forms of knowledge don’t work in the fast-paced 21st-century world of business which is interlaced with disciplines like environment, human resources and ethics. MBA students will look for institutes that go above and beyond in teaching their students how to excel in this changing economic scenario. These institutes also equip students with knowledge that will help them navigate in the dynamic world of business and industry. Listed below are some of the top MBA colleges in Mumbai-
- Jamnalal Bajaj Institute of Management Studies
JBIMS, as it is popularly called, is an elite business school. Named after Indian industrialist Jamnalal Bajaj, this institute was established in 1965 as a collaborative effort between the University of Mumbai and Stanford University. Over the years it has produced CEOs, stalwarts of the business world and it has featured in the list of India’s and Asia’s best colleges.
For a student, placements and salary packages are important concerns. JBIMS campus placements see over 60 companies participating from sectors like FMCG, pharmaceuticals, telecom, auto, e-commerce and consulting. Talking about salary packages, the highest package offered to a student from JBIMS was ₹30 lakhs per annum. The average salary package offered is around ₹18.91 lakhs per annum.
- National Institute of Industrial Engineering
NITIE is one of the most desirable options for those interested in Supply Chain & Operational management. It is known among students as the ‘Mecca of Supply Chain’. It offers a variety of courses in different niches. It is ranked nationally among the top 15 institutions by the HRD Ministry, alongside IITs and IIMs. The alumni are massive and include successful start-up founders and top industry professionals.
Talking about placements, NITIE has an excellent track record. Companies like Amazon, Colgate, P&G, Nestle, Hindustan Unilever, Accenture and Deloitte are the top recruiters. In 2018, the highest salary package bagged by a student was ₹46.50 lakhs per annum (LPA) while the average was ₹18.45 LPA.
NMIMS was established in 1981 under the Mumbai University and has become one of the best MBA colleges in Mumbai and India. It has an excellent rating by NAAC and has ties with MNCs and industry stalwarts who are alumnus. NMIMS encourages its students to work on projects and enhance their social sensitivity, instead of just burying themselves in theory.
In 2018, the entire batch of students was placed successfully. Companies that participated in the placement included Microsoft, Flipkart, Goldman Sachs, ITC, Aditya Birla Group, L’Oreal, Deloitte, etc. Even international companies like Square Yards and Jumbo Electronics were recruiting. The highest domestic salary package was ₹18 lakhs per annum while the average was around ₹14 lakhs per annum.
- SP Jain Institute of Management & Research
SPJIMR was established in 1981 and is one of the most coveted elite B-schools in India. It has solidified its position among the top MBA colleges in Mumbai and India due to its different approach towards education. It has some pioneering programs and different teaching methods that set it apart. Admissions at the institute are totally merit-based and it doesn’t reserve seats for SC/ST students. It makes it mandatory for students to intern with NGOs. SPJIMR deems it important that students focus on field assignments, group projects and mentorship programs.
Placement drives at the institute are highly successful with companies like Amazon, Axis Bank, P&G, Tata Administrative Services, Hindustan Unilever and Boston Consulting Group being the top recruiters. In 2018, the average salary package was ₹21.25 LPA.
- Tata Institute of Social Sciences
TISS is the best college in Mumbai for a variety of subjects. But it has recently become one of the best MBA colleges in Mumbai due to its innovative courses in Social Entrepreneurship, Human Resources Management and Labour Relations, Disaster Management and Globalisation and Labour. These courses are in touch with reality and can give a student an edge over others with more conventional knowledge. These new and unique courses will prepare MBA students better to deal with the challenges of the 21st century. TISS has an illustrious alumnus from the various disciplines taught at the institute.
Among the top recruiters at the university were Reliance Industries, Bajaj Auto, Accenture, Hindustan Unilever, Cipla, Citi Bank, OLA and L&T. the highest salary package bagged by a student in 2018 was ₹27 lakhs per annum while the average salary of the batch was ₹18.77 LPA.
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