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    Placement Report: Highest Median Salary At Maharashtra’s Top Non-IIM Management Colleges

    By Atul Ade
    14 Dec'23  6 min read
    Placement Report:  Highest Median Salary At Maharashtra’s Top Non-IIM Management Colleges
    Synopsis

    As per the National Institutional Ranking Framework (NIRF 2023) ranking, Maharashtra ranks fourth in having the highest number of non IIM, non IIT management institutes. Let’s understand in greater detail, NIRF ranks, gender and geographical diversity, enrollment statistics, placement performances, and median salaries at the state's top management colleges. 

    Placement Report:  Highest Median Salary At Maharashtra’s Top Non-IIM Management Colleges
    Synopsis

    As per the National Institutional Ranking Framework (NIRF 2023) ranking, Maharashtra ranks fourth in having the highest number of non IIM, non IIT management institutes. Let’s understand in greater detail, NIRF ranks, gender and geographical diversity, enrollment statistics, placement performances, and median salaries at the state's top management colleges. 

    The top four ranked management colleges of Maharashtra other than Indian Institute of Technology (IIT), Bombay, and Indian Institute of Management (IIM), Nagpur had 100 per cent placement in 2021-22. These colleges are National Institute of Industrial Engineering, Symbiosis Institute of Business Management, SVKM's Narsee Monjee Institute of Management Studies, Mumbai and National Institute of Bank Management, Pune. They also received a record median salary similar to the top IIMs of India. While National Institute of Industrial Engineering, Mumbai recorded the highest median salary of Rs. 31 lakh Rs. per annum.

    Out of the 100 management institutes ranked by the National Institutional Ranking Framework (NIRF) 2023, Nine were from Maharashtra. Out of the nine, two institutes, IIT Bombay and IIM Nagpur were excluded from this study. In the competitive landscape of management education, Maharashtra boasts several prestigious institutions that collectively placed around 99 per cent of the graduates. Students who accepted the placement offers got the average median salary of Rs. 13.27 lakh per annum.

    Careers360 analysed the state-wise placement performance of management institutions other than IIMs and IITs. As per the latest ranking of the Ministry of Education’s National Institutional Ranking Framework (NIRF) 2023, Maharashtra has the fourth highest number of non-IIM/IIT Management institutes after Uttar Pradesh, Delhi and Tamil Nadu.

    The top management colleges of Maharashtra, which are compared in this article, with their NIRF ranks are given below.

    Non IIM, Non IIT Management Institutes In Maharashtra

    NIRF Rank

    National Institute of Industrial Engineering, Mumbai

    7

    Symbiosis Institute of Business Management, Pune

    17

    S.P. Jain Institute of Management & Research, Mumbai

    20

    SVKM's Narsee Monjee Institute of Management Studies, Mumbai

    21

    K J Somaiya Institute of Management Studies and Research, Mumbai

    45

    Principal L N Welingkar Institute of Management Development and Research, Mumbai

    73

    National Institute of Bank Management, Pune

    76

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    Gender Diversity

    Gender diversity is an important aspect of a progressive learning environment. Our in-depth examination showcases the percentage of female students in each institution, offering insights into their commitment to inclusivity.

    On average, Maharashtra has more than 40 per cent of female participation in the non IIM/IIT institutes of Maharashtra, this number increased by four per cent compared to the last years.

    Among the colleges of Maharashtra,SVKM's Narsee Monjee Institute of Management Studies, Mumbai has the highest percentage of female students.

    Institutes

    % of Female Student

    National Institute of Industrial Engineering, Mumbai

    31.36

    Symbiosis Institute of Business Management, Pune

    20.00

    S.P. Jain Institute of Management & Research, Mumbai

    35.71

    SVKM's Narsee Monjee Institute of Management Studies, Mumbai

    50.96

    K J Somaiya Institute of Management Studies and Research, Mumbai

    38.74

    Principal L N Welingkar Institute of Management Development and Research, Mumbai

    45.81

    National Institute of Bank Management, Pune

    34.33

    Also Read | Nearly 100% Placements At New IIMs, But Average Salaries Much Lower Than The Older Ones

    Geographical Diversity

    Geographical diversity, a facet often overlooked, plays a crucial role in shaping a global mindset. We break down the local, national, and international student ratios, deciphering how these colleges create an inclusive atmosphere that transcends regional boundaries.

    Two institutes – SP Jain Institute of Management & Research and Symbiosis Institute of Business Management – had foreign students, that too just three and 48 students respectively.

    Data on local, national, and international students (In %)

    Institutes

    Local

    National

    International

    National Institute of Industrial Engineering, Mumbai

    4.06

    95.94

    0.00

    Symbiosis Institute of Business Management, Pune

    20.00

    66.67

    13.33

    S.P. Jain Institute of Management & Research, Mumbai

    17.86

    81.51

    0.63

    SVKM's Narsee Monjee Institute of Management Studies, Mumbai

    13.60

    86.40

    0.00

    K J Somaiya Institute of Management Studies and Research, Mumbai

    36.05

    63.95

    0.00

    Principal L N Welingkar Institute of Management Development and Research, Mumbai

    43.97

    56.03

    0.00

    National Institute of Bank Management, Pune

    22.75

    77.25

    0.00

    Enrolled, Graduated And Placed

    Transitioning from admissions to the journey of enrolled students, the statistics tell a story of success, with high placement rates and a notable absence of students opting for higher studies immediately after graduation. Maharashtra’s colleges reveal the commitment to not only admit promising individuals but also ensure their success in the competitive job market.

    Below table has a deep analysis of the enrolled students, graduating students (in the minimum stipulated time, here two years), students placed and the ones who opted for higher studies.

    Placement Details (In the years 2020-21)

    Institutes

    Enrolled

    Graduated

    Placed

    Opted For Higher Studies

    National Institute of Industrial Engineering, Mumbai

    521

    521

    521

    0

    Symbiosis Institute of Business Management, Pune

    180

    180

    180

    0

    S.P. Jain Institute of Management & Research, Mumbai

    238

    238

    235

    0

    SVKM's Narsee Monjee Institute of Management Studies, Mumbai

    600

    600

    600

    0

    K J Somaiya Institute of Management Studies and Research, Mumbai

    472

    472

    458

    0

    Principal L N Welingkar Institute of Management Development and Research, Mumbai

    583

    566

    555

    0

    National Institute of Bank Management, Pune

    120

    113

    113

    0

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    Placement Performance

    More than 99 per cent of the students were successfully graduated, out of them around 99 per cent of the students were able to secure employment during the campus placement drive. K J Somaiya Institute of Management Studies and Research, Mumbai had the lowest placement rate which is also more than 97 percentage points.

    Institutes

    Placement

    National Institute of Industrial Engineering, Mumbai

    100.00

    Symbiosis Institute of Business Management, Pune

    100.00

    S.P. Jain Institute of Management & Research, Mumbai

    98.74

    SVKM's Narsee Monjee Institute of Management Studies, Mumbai

    100.00

    K J Somaiya Institute of Management Studies and Research, Mumbai

    97.03

    Principal L N Welingkar Institute of Management Development and Research, Mumbai

    98.06

    National Institute of Bank Management, Pune

    100.00

    Median Salary (2021-2022)

    SP Jain Institute of Management & Research, Mumbai institutes had the highest median salary in the previous two placement sessions. But from the last two years placement session of 2020-21 to 2021-22, National Institute of Industrial Engineering, Mumbai had the highest median salary.

    K J Somaiya Institute of Management Studies and Research, Mumbai had the lowest median salary.

    Institutes

    Median Salary

    National Institute of Industrial Engineering, Mumbai

    31.00

    Symbiosis Institute of Business Management, Pune

    20.80

    S.P. Jain Institute of Management & Research, Mumbai

    30.50

    SVKM's Narsee Monjee Institute of Management Studies, Mumbai

    19.20

    K J Somaiya Institute of Management Studies and Research, Mumbai

    10.25

    Principal L N Welingkar Institute of Management Development and Research, Mumbai

    10.50

    National Institute of Bank Management, Pune

    10.50

    Admissions: CAT, MAH CET

    The aspirants seek admission to the above-mentioned non-IIM management colleges in Maharashtra through the different management entrance exams such as CAT and a state-level entrance exam Maharashtra Common Entrance Test (MAH MBA CET).

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