SPJIMR Mumbai MBA/PGDM Admission 2027: Cutoff, Fees & Placements

SPJIMR runs four postgraduate programmes. PGDM and PGDM (BM) are two-year and admit freshers; PGPM is 18 months and needs at least three years of work experience; GMP is a dual-degree route split between Mumbai and an overseas partner school.

SPJIMR runs two campuses, and only one of them teaches the full-time programmes on this page.

Delhi is also an interview location for PGDM, which is a separate thing from studying there.

Every figure below is a whole-programme fee. No year-wise or instalment split is published for any of them, and dividing a two-year total by two would not give the first-year payment — ask for the instalment schedule in writing before you accept a seat.

Fees below are per programme for the 2026-27 cycle. GMP is the exception: ₹9,50,000 plus taxes covers the six months in Mumbai, and the rest is the overseas partner school’s own tuition in its own currency.

Eligibility differs mainly on work experience. PGDM and PGDM (BM) take freshers; PGPM requires a minimum of three years; GMP candidates clear SPJIMR’s round and then a second round run by the partner school.

SPJIMR accepts CAT and GMAT. For PGDM and PGDM (BM) the GMAT must be taken at a physical test centre; a home-based attempt is not accepted. PGPM accepts GMAT online, offline or Focus Edition.

SPJIMR does not admit on exam score alone. After the score it runs its own application and interview phases, weighing non-academic achievement, and admits directly into a specialisation.

Admission is on merit only. In SPJIMR’s own words: “SPJIMR does not have any quota, management or otherwise”, and it “never appoints an intermediary (whether an individual or organisation) under any circumstance to approach any candidate with claims of confirmed admission, for a fee or otherwise” (2027-29).

36 seats above the sanctioned intake are set aside by AICTE for international applicants, including PIOs, OCIs, children of Indian workers in the Gulf and foreign nationals.

GMP is not one qualification but two. ₹9,50,000 plus taxes covers six months in Mumbai; everything after that is the partner school’s tuition, which is why SPJIMR’s stated ballpark for the whole programme runs ₹28 lakh to ₹97 lakh. Six of the twelve partner schools are in the USA.

Round II is run by the partner school, not SPJIMR, and the STEM designation, OPT entitlement and final degree come from that school. SPJIMR states participants get a special tuition rate there, and that scholarships of up to 70% are available from those schools.

SPJIMR publishes overseas salary ranges under Career Services Assistance as average packages after internships: USA $85K–$120K, Europe €45K–€65K, UK £41K–£65K, Canada $55K–$65K. These are foreign-currency outcomes from the partner-school phase and are not comparable with the rupee CTC figures for the other three programmes.

GMP has January and June cohorts — the only SPJIMR programme with two entry points — and includes German and French language training.

SPJIMR publishes a median as well as an average for its two PGDM programmes. Where the two differ, the median is the better guide.

The audited PGDM series — a stronger source than the highlights above

SPJIMR’s placement reports are audited by Gandhi Lakhani, Chartered Accountants, against IPRS Version 2.2 and signed page by page. Where an audited figure and a website figure differ, plan on the audited one.

The 2023-25 median of ₹29,13,675 sits about ₹3.7 lakh below 2022-24, on a batch that grew from 291 to 342 and recruiters from 71 to 80. By accepted offer the 2023-25 sector mix was Consulting 118 (35.44%), FMCG 60 (18.02%), BFSI 38 (11.41%), General Management 34 (10.21%), E-commerce 23, Technology 20 and IB/PE 11. By function: Marketing and Sales 96, Information Management 89, Finance 77, Operations and Supply Chain 71. Mumbai took 93 of 333 offers.

Where SPJIMR's own sources disagree

For the 2024-26 finals SPJIMR’s own documents give two different pictures, so both are shown. Medians and averages differ only by rounding; the highest figure does not. If PGDM peaked at ₹75 lakh and PGDM (BM) at ₹65 lakh, a combined peak of ₹80 lakh cannot also be right — one document is out of date.

Plan on the batch average of ₹33.7 LPA and the top-20% figure of ₹45 LPA rather than the peak. The same report records 163 pre-placement offers across 81 companies, and for 2025-27 summer placements a median stipend of ₹1.75 lakh a month against a highest of ₹7.2 lakh, across 363 participants and 82 companies.

PGDM and PGDM (BM) share one placement process, so their medians are identical and only the tails differ — ₹75 LPA against ₹65 LPA. Choosing between the two on expected salary is choosing on noise.

PGPM’s ₹24.40 LPA is a different measurement, not a worse outcome: candidates arrive with at least three years’ experience and are already earning, and SPJIMR reports a 119% average increase over incoming pay alongside the absolute figure.

For the Class of 2027 internships, a 361-member cohort received 425 offers from 81 companies including 22 first-time recruiters. IB and PE offers rose over 100% and Product Management 56%; about a third went to Consulting and roughly 24% to FMCG. The average stipend was ₹1.66 lakh a month against a median of ₹1.71 lakh — the median above the average, so a tail of lower stipends pulls the mean down rather than a few large offers pulling it up. The top 50% averaged ₹2 lakh, the top 20% ₹2.16 lakh, and the highest reached ₹2.5 lakh.

SPJIMR holds two Financial Times rankings and they cover different programmes. This is the fact most often misreported about the institute.

If you are applying to PGDM, the relevant figure is the FT Masters in Management position — #26 global, #2 India — not the FT Global MBA #74, which belongs to a programme freshers are not eligible for.

The “#1 Private B-school, #5 all-India” wording is badged against Fortune India Best B-Schools 2025. SPJIMR also describes an India Today survey immediately above it; its page does not say whether the two are the same result reported twice, so they are not merged here.

The Positive Impact Rating is a Swiss association that scores business schools on societal impact, rated by their own students; Level 5 is its highest band. It says nothing about placement outcomes. Note also that SPJIMR’s three FT-related claims come from three different years — the “India’s #1” recognition is dated 2024.

SPJIMR was established in 1981 and is a constituent of Bharatiya Vidya Bhavan, a trust established in 1938. It is a category-I management institute under AICTE and holds AACSB, AMBA (UK) and EQUIS (EFMD) accreditation — the combination known as Triple Crown. SPJIMR further states it is “one of only four Indian business schools” with that combination and “among the top 1% of global business schools”; both are reproduced as SPJIMR’s statements, not as ours.

The errors below cost applications rather than marks.