MBA Colleges in Mumbai with Low Fees

Mumbai, the financial capital of India, is home to some of the most prestigious educational institutions in the country. The city offers MBA programs for aspiring business leaders catering to various financial budgets.

While many MBA colleges in Mumbai are known for their high fees, several reputable institutions provide quality education at a more affordable cost. These colleges aim to make management education accessible to a broader section of society without compromising on academic rigour and industry relevance.

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In this guide, we will explore some of the top MBA colleges in Mumbai that offer excellent programs with low fees, helping students achieve their career aspirations without the burden of substantial financial debt.

Admission Process in Mumbai MBA Colleges

The admission process in Mumbai MBA colleges has the following components:

• Academic Eligibility criteria for MBA Admission in Mumbai is a minimum 3 years of bachelor’s degree with a minimum of 50% marks in any discipline
• The applicant has to appear in one of the acceptable MBA entrance exams and also has to apply for MBA admission in the preferred institute – For example, SPJIMR, NITIE, and IIT Bombay accept only CAT scores; NMIMS accept NMAT scores, while JBIMS, SIMSREE accept MAHCET score for Maharashtra State candidates and CAT, XAT, CMAT, MAHCET score for all India category candidates.
• You will be shortlisted based on your MBA entrance exam score, academics and work experience
• The MBA admission process at JBIMS, SIMSREE and other university-affiliated B-schools will be through the DTE CAP round.
• On receipt of the final MBA admission offer, you must pay the acceptance/admission fees by the stipulated date.

MBA colleges in Mumbai with low fees

1. Indian Institute of Technology, Bombay (IIT-B SJMSOM) (MBA)

Renowned for its rigorous academic curriculum and esteemed faculty, IIT Bombay’s Shailesh J. Mehta School of Management (SJMSOM) offers a desired MBA program. It emphasises a blend of theoretical knowledge and practical application, preparing students to excel in the dynamic business world with a focus on innovation and technology. And comes in list of the Top MBA colleges in Mumbai with low fees.

2. Jamnalal Bajaj Institute of Management Studies (JBIMS) (MMS)

Jamnalal Bajaj Institute of Management Studies was founded in 1965 by the University of Mumbai. JBIMS has been a pioneer in management education and one of the most prestigious MBA colleges in Mumbai. It is consistently ranked among the top 10 premier B-schools in the country with a legacy spanning over the past 52 years.

The Masters in Management Studies offered at the JBIMS is its flagship course. 

This college has nurtured many prominent leaders, it is also known as the CEO Factory of India. 

3. Tata Institute of Social Sciences, Mumbai (TISS) (HRM)

Tata Institute of Social Sciences (TISS) is a multi-campus public university in Mumbai, India. It is Asia’s oldest institute for professional social work education and was founded in 1936 in the then-Bombay Presidency of British India as the Sir Dorabji Tata Graduate School of Social Work by the Sir Dorabji Tata Trust. In 1944, the institute was officially renamed the Tata Institute of Social Sciences.TISS’s academic programs focus on the social sciences and offer doctoral degrees in Habitat Studies, Management and Labour Studies, Disaster Studies, Development Studies, Education, Gender Studies, Health Studies, Law, Media and Cultural Studies, Public Policy, Rural Development, and Social Work.

Tata Institute of Social Sciences (TISS) in Mumbai does not offer an MBA program. However, it does offer a similar program in Management, Including an MA in Human Resource Management and Labour Relations, Social Entrepreneurship, Globalisation, and Labor, etc. TISS Mumbai is considered to be the best MBA HR college in Mumbai

4. Jio Institute – PGP in AI&DS Programme

Jio Institute’s PGP in AI&DS Program leverages cutting-edge technologies and data science to train students for the future of work. Students learn to convert business problems and workflows into AI&DS products and solutions across multiple verticals/industries.

Backed by Reliance Industries, it offers a blend of theoretical knowledge and hands-on experience, preparing graduates to drive innovation and solve complex challenges in artificial intelligence and data science.

5. SIMSREE Mumbai – MMS

Sydenham Institute of Management Studies, Research and Entrepreneurship Education (SIMSREE) is renowned for its Master in Management Studies (MMS) program. 

With a legacy spanning over four decades, it emphasises academic excellence, industry interface, and holistic development, shaping well-rounded professionals equipped to thrive in today’s competitive business environment. It is also on the list of the Top MBA colleges in Mumbai with low fees.

6. NL Dalmia Institute of Management Studies and Research (PGDM):

L. Dalmia Institute of Management Studies and Research (NLDIMSR) was established in the year 1995 by the Late Shri Niranjanlalji Dalmia with a vision to become a World-Class Management Institute. Currently, the Institute ranks among the Top MBA schools in Mumbai with low fees and is one of Mumbai’s most preferred business schools.

NL Dalmia Institute is also recognised for its industry-aligned PGDM programs, offering finance, marketing, and operations specialisations. With a focus on experiential learning and global exposure, it nurtures talent, fosters innovation, and prepares students to become future leaders in the corporate world.  

7. SIES School of Business Studies (PGDM Core + Biotech + Pharma + MMS)

SIES School of Business Studies offers various PGDM programs catering to varied interests and career aspirations. With specialised tracks in core management, biotechnology, pharmaceutical management, and MMS, it provides students with a comprehensive understanding of their chosen fields and prepares them for industry challenges.

8. Aditya Institute of Management Studies and Research (AIMSR): 

Aditya Institute of Management Studies and Research (AIMSR) has distinguished itself by preparing students with innovative leadership skills by the challenges in the business landscape. It is unsurprising that AIMSR is amongst the leading B-Schools in India and ranked 4th amongst the top private B-Schools in Mumbai according to the Times MBA-School Survey 2023. 

Very recently, the Institute received the Certificate of Accreditation from the National Assessment and Accreditation Council (NAAC), which endorses the Institute’s commitment to promoting quality in teaching-learning, research, consultancy, and student development.

AIMSR is committed to providing quality management education at an affordable cost. With a focus on practical learning and industry exposure, it equips students with the skills and knowledge required to excel in their chosen fields, fostering a culture of innovation and excellence.

9. Shreemati Nathibai Damodar Thackersey Women’s University (SNDT)

SNDT Women’s University stands 32nd amongst multi-disciplinary universities in India and ranked fourth in Western India according to the Week-Hansa Research ranking 2020.

SNDT Women’s University offers a conducive environment for women to pursue higher education in management with affordable fees. 

Focusing on empowerment and skill development, it prepares women for leadership roles in diverse sectors, nurturing their talent and fostering a sense of confidence and independence.

10. Mumbai University

Mumbai University is one of the oldest and most prestigious universities in India. The University of Mumbai offers several programmes in the field of Management at the PG level, such as MBA, Master of Management Studies (MMS), Master of Marketing Management (MMM), Master of Financial Management (MFM), Master of Human Resources Development Management (MHRDM), Master of Information Management (MIM) and Master of Financial Services Management (MFSM). 

Of these, MBA and MMS are full-time courses whereas the remaining courses are offered via part-time modes.  MU Offers a wide range of management programs. Its rich academic heritage, extensive resources, and diverse student community provide a platform for holistic growth and academic excellence, shaping future leaders and innovators with affordable fees.

Conclusion

Choosing the right MBA college is a crucial step in shaping one’s career in the business world. Mumbai’s affordable MBA colleges provide cost-effective education and ensure students gain the necessary skills and knowledge to excel professionally. These institutions balance quality education with affordability, making them ideal choices for students keen on pursuing an MBA without incurring high costs.

 By opting for these colleges, students can leverage Mumbai’s dynamic business environment and vast networking opportunities to achieve a successful career in management. Whether you are a fresh graduate or a working professional looking to enhance your skills, these MBA colleges in Mumbai, with low fees, offer a valuable pathway to achieving your career goals while managing your finances effectively.