Highest Paying Jobs in Mumbai: Complete Guide

Its infrastructure has been growing as fast as its population, the most recent development being the world class sea link that connects Mumbai with New Mumbai.

Unless one gets commensurate pay, it is difficult to be able to live with secured comfort in Mumbai - the dream land of job seekers.

Here we shall inform you about the job market of Mumbai and about the highest paying jobs in Mumbai.

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Money and Mumbai

When you take into consideration the living expenses in Navi Mumbai, the salary structure of salary jobs (average salary) may have to be evaluated from that calculation in view. The entire package must be taken into view including perks and medical insurance etc.

Some of the highest salary jobs in Mumbai would be listed here and details related to these jobs would be provided along with.

Though money is not everything in life, in a city like Mumbai, the importance of money is even high. A job aspirant seeking a job that is well paid and highest paid is all the more sensible in Mumbai.

Highest Paying Jobs in Mumbai - For whom?

First you should remain assured that Mumbai's Economy has ample space for freshers, middle level as well as senior level job seekers depending upon their profile, their qualifications, their experience and their capabilities of 'change management' whether one is from Mumbai or from outside Mumbai, later particularly when you are from outside Mumbai, for highest paying jobs.

Highest paying jobs are available for freshers to seniors - all categories depending on dynamics of human resources in the industrial or business or professional sector.

The pay varies from industry to industry and from organization to organization, but looking to the contribution of Mumbai in the GDP of the state of Maharashtra and to the country that is India, a competent professional or aspiring fresher must find optimism rewarded very well in Mumbai.

There are always many positions available for a good performer to fit in the highest paying job slot.

Highest Paid Jobs - A point to remember, an important point which a high paying job seeker must keep in view is the continuity and sustainability of such high paying jobs and fall outs of losing such jobs.

It requires special efforts to ensure that once you get a high paying job, you are able to retain and also grow further in your career. You should contribute to the organization and the industry or sector on continuing basis by remaining innovative, creative and updated with the newest developments in the sector, not only locally, or nationally but also globally.

Highest paid jobs demand you to be a member in community of such top level functionaries and you should keep in view this important aspect if you wish not to lose the steam and the job. Once a performer, always a performer - this is the mantra for highest paying job holders.

Sector wise Highest Paying Jobs in Mumbai

Obviously it is the services sector that provides most of the highest paying jobs and Mumbai Economy is predominantly service economy.

Still, manufacturing is also the next sector that has top layer positions in the highest paying jobs category.

First we shall provide information and insights on highest paying jobs in service sector and then we shall list out highest paying jobs in manufacturing and film industries.

All these jobs are likely to get any amount from INR 0.9 million to 10 million and more depending on the candidate profile, company profile and sector profile.

Service Sector Jobs for Professionally Qualified Aspirants -

Most of the highest paying jobs remain in the service sector - Medical and allied professionals, IT Sector Professionals, Management Professionals, Administrators and Public Administrators, Financial - Banking - Accountancy Sector Professionals, Researchers, Scientists - these positions remain the most coveted and highest paying positions in the job market in Mumbai.

Medical and Allied Professionals -

Doctors, specifically experts remain in great demand in the metropolitan job market. In teaching hospitals, their demand is even more. Education and experience and specialty that they have mastered matters so far as pay is concerned.

In teaching hospitals, the criteria for posts as per regulatory norms are such that here the freshers may find it difficult to be at the top in the initial period but still the pay structure may be very rewarding. It may begin anywhere from INR 2.4 million per annum and more even for freshers. Sometimes the designation may be lower but pay may be higher depending on vacancy status vis a vis availability of human resource in that particular specialty.

The corporate hospitals and other super specialty as well as multi specialty hospitals always remain in great demand of super specialists and specialists with good pay structures and additional case based incentives.

Geneticists, endocrinologists, diabetologists, interventional cardiologists and some other evolving branch professionals like transplant surgeons, bone marrow transplant surgeons, pediatric neurosurgeons and physicians have very good scope for work in Mumbai.

Allied professionals like hospital and health administrators, registered nurses, dentists and physiotherapists and therapists also remain in good demand in Mumbai.

A compassionate and competent medical and allied professional would always remain the most eyed employee for any good organization running hospitals.

As the corporate hospital system stabilizes more with public health schemes like Ayushman Bharat that provides medical insurance cover to a large section of population, there will be less commercial pressure for revenue generation on professionals from the management of the hospitals.

Being a part of a team helps professionals to have less risks and more time to spare for family life and enjoy the real fruits in terms of satisfaction in life from payments and emoluments they get.

IT (Information Technology) Sector Professionals

Artificial Intelligence - AI and Machine Learning experts, Block Chain and Full Stack Developers, Data Scientists and Data Management Professionals as well as specialized developers and professionals engaged in end to end digitization and network support structure designs and installation have ample opportunities to get into and perform on consistent basis in the industry in Mumbai.

Here the youngsters having education in computer science, computer software and hardware engineering, statistics, mathematics and data science have a steeply rising career graph waiting for them. As more and more sectors adopt digital technologies, and as more and more AI ML driven programming becomes need of the day, the demand for these professionals would remain and increase in the times to come.

Block Chain Developers have their time at peak and their demand graph is yet to rise further as banking industry and digital currency and cryptocurrency gain more traction and more momentum.

Full Stack Developers would remain in limelight as organizations want more and more seamless digital services from one and unique provider. From back end to front end, the organizational functioning has to be in sync and fast and data has to be processed as per users' requirements at speed. This generates scope for full stack developers.

The pay packages are likely not only to be high but are likely to remain consistently high for couple of decades to come.

Your aptitude to quickly make yourself familiar with cross sectional fields and to understand the needs of digitization and operational issues and solutions for these issues in respective sectors like health, education or manufacturing would make you relevant and indispensable for any IT organization for years to come and you can enjoy the fruits of your labor and your work for years to come with good work life balance.

Management Consultant and professionals -

Corporate Management or Management of Organizations is a special job that has remained consistently in high demand as old organizations expand or grow and new organizations come up into existence and operations.

This job is relatively for middle and senior level professionals but some organizations may opt for freshers (either on sole responsibility basis or in addition to senior professionals already serving the organizations) of reputed educational institutes to have young blood to enthuse spirit in the organizations. These jobs require more soft skills apart from management skills and basic understanding of technical operations of the organizations.

These jobs are definitely well paid for but to have work life balance, you would need to put in efforts to make systems stronger and institutionalization should be focused upon so that there is maximum governance and minimum government.

A good management professional that a company would prefer is one who delivers fool proof systems and who does not leave void when retires. Succession planning is very important for this job position.

Required education and experience and skills differ from organization to organization. So does the pay depending on the budget and turnover of the organizations.

General Administration, Human Resource(HR) Administration and Finance management also remain under the purview of overall management heads and as management professional you need to be well versed on these aspects at certain level.

The management level tasks like HR and general administration and material or goods and services management posts like sales manager or purchase manager or procurement manager as well as inventory manager are well paid posts and jobseekers with appropriate profiles can opt for these jobs as these are generally well paid jobs. So are the posts like public relations management and social media management and candidates with appropriate profiles can earn well from these jobs.

Entire gamut of management related tasks right from managing lower cadres to managing the board and board directors requires you to be careful at each level. Besides you ought to look at the future plans of the organization. The pay of the highest order is given for these posts considering the leadership level outputs that are expected from such positions. You should be a team builder and team captain all along.

Mumbai has no dearth of these jobs and the work culture is generally very good.

Educational Services Professionals

Mumbai is the seat of education services of international reputation and those interested in teaching jobs have many opportunities. These jobs are almost always well paid for and corporate players may offer additional incentives too apart from regular pay.

IIT and many such organizations like UDCT and VJTI and TIFR and TISS draw students from across the globe.

These jobs get a lot of respect too apart from money. On the other hand these jobs require you to be not only good at teaching but also at mentoring. Research is also an ingrained trait these positions are expected to have in plenty. The onus of curating the young generation lies on these professionals.

Professors, Associate Professors, Deans, Principals, Vice-Principals, Heads of Departments and Research Associates as well as Chief Librarians are some of the coveted positions jobseekers aspire for and are available in good numbers.

Financial and Accountancy Service Professionals

Chartered Accountant and other senior accountants and commercial managers are always in demand in good numbers for financial management and internal audit, system audit, management audit, pre-audit as well as for commercial operations. Corporates also appoint professionals for business development, expansion and statutory compliances of corporate laws. This also includes investment banker and data scientist.

Investment bankers are also in good demand as investors need more and more insights and inputs for their investment and projects. Financial services firms hire such professionals to serve their clients for investment planning.

Bombay Stock Exchange and many other markets like bullion and metal markets are located in Mumbai and carry huge trading on daily basis. Shipping and logistics also entail a lot of business in Mumbai. Brokerage Professionals are hired by specialized firms working on these tasks.

All these posts have been conventionally remained well paid for since long and still these posts have the traction in corporates and other organizations. Educational qualifications and experience as well as skill sets matter a lot for these positions.

Legal and Judicial Services Professionals

Lawyers and Law Graduates have lot of work not only related to litigation but also related to regular compliances and good corporates as well as organizations appoint dedicated legal service heads or corporate lawyers on their rolls with good pay structures.

Mumbai has many legal service firms that also offer good jobs to aspiring candidates.

Then lawyers always have chances to get appointed as public prosecutors or judges or arbitrators and it is well known that these posts are highest paying posts.

Manufacturing Sector Jobs in Mumbai

Manufacturing sector is diverse in Mumbai - right from agro and allied manufacturing like food, feed, dairying and fishing products to engineering products and chemicals, many industries are well established in Mumbai.

Manufacturing sector contributes greatly to GDP and is full of job opportunities in higher positions.

There are many industrial areas and industrial clusters in Mumbai manufacturing diverse products. Many big corporates are having their robust presence in Mumbai and certain reputed international brands also do manufacturing in Mumbai. Clothing, beverages, machine tools, automobiles, chemicals, paints, dairy products, food products, defense production are some of the industrial sectors thriving in Mumbai.

Manufacturing Sector Professionals

Mumbai is seat of factories and technical professionals do find roles like Senior General Manager - Production, General Manager - Production, Plant Manager, production manager, floor manager, shift manager, product design consultant, General Manager - Utilities, utilities manager, manager - engineering and maintenance, energy or power management head - all these are well paid jobs.

Most of these posts are held by technical or engineering professionals and they are like the heart of the organization if we accord the service professionals the status of brain of the organization.

These professionals are engaged in optimum plant capacity utilization on one hand and on maintaining quality parameters on the other hand.

Quality Assurance (QA) professionals are also engaged in plants but these positions report to head independently so that the quality management gets precedence in the organization. Senior General Manager QA or General Manager - QA or Manager - QA are high level posts and are always well paid for. These posts require merit in lab sciences like analytical chemistry and microbiology etc.

Mumbai offers lot many positions in this sector to aspiring candidates.

Construction Sector Professionals

Civil engineers, structural engineers, architects, interior designers and labor mobilizers and material managers as well as inventory managers and sales managers are hired by companies and firms in Mumbai on a large scale as there are many developer firms engaged in property market of Mumbai.

All these posts are highly paid posts with the growth of the sector the numbers that are hired keep on rising. Job aspirants have lot of opportunities in this sector.

Film Industry Professionals

Mumbai is the place that releases films in large numbers and Bollywood is famous for its films. Hindi as well as Marathi films are produced here in Mumbai and these films mint a lot of money at the box office. Entertainment industry is money intensive industry.

A large number of positions right from film studio teams to film marketing teams comprise of many professionals who are well paid for. Jobseekers with appropriate profile may find suitable jobs in Bollywood.

Project Advisory Service and Project Team Professionals

Mumbai is not only the seat of Bombay Stock Exchange and such other trading platforms, it is the financial capital of the country and hence projects get their financial and technical inputs from Mumbai wherever the locations of the projects may be. Upcoming new projects require specific services and engineers or technocrats as well as financial service experts,, investment bankers and other experts comprise into a group of lucrative positions as project team.

Conclusion

We have provided an exhaustive though not complete list of highest paid jobs that await jobseekers in Mumbai which is a happening place bustling with lot of economic activities right from manufacturing to services.

College students and upcoming professionals may prepare themselves in such a way to make themselves fit for these highest paid jobs.

Best of luck to Mumbaikars and to be Mumbaikars. Highest paid jobs may make you proud professional and proud family member and may you and your family and friends be blessed with happy, healthy life.

Do read our articles to have more and more insights and inputs about the jobs awaiting you and your acquaintances. We not only provide a panoramic view of the jobs at different places and in different sectors, we also provide insights and inputs for resume writing and cover letter writing.

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