Do you know what are the top 10 highest paying jobs in Mumbai – which is famously known as Maya Nagri or the city of dreams?
While discussing factors that impact your job, you may consider its benefits and growth opportunities, along with its salary and monetary benefits. We all know that money is a significant component in our daily life to make ends meet. This is why every job seeker dreams of being hired for one of the high-paying jobs in Mumbai.
Here, you will find the top 10 highest-paying jobs in Mumbai for all kinds of job seekers, whether fresher or professional. For your benefit, we have come up with high-growth opportunity jobs in Mumbai where your CTC is subject to your qualification and experience. The average salary offered in a particular industry depends on its work requirements.
Highest Paying Jobs In Mumbai
1. Machine Learning Expert
Artificial Intelligence and Machine Learning have been the center of attraction for many scholars. This sector provides high monetary benefits to the professionals of this field in cities like Mumbai. Further, it is a branch which focuses on making machines work like a human mind. To enter this field, you should learn advanced levels of Artificial Intelligence, enabling you to solve algorithms proficiently. It is in demand and one of the best jobs in Mumbai, both in terms of money and career advancement.
Skills required to be successful in this job are-
- Programming (Python or R)
- Training in report presentation and data visualisation
- Able to bring significant information from the given set of data
Educational requirements
Pursuing Bachelor’s in statistics and mathematics will be advantageous for this job. Apart from this, individuals with engineering and IT backgrounds are also preferred for this kind of position.
How to enter this field
If you decide to be a machine learning expert, you must get hands-on experience in AI and its algorithms. Your programming skills will also assist you in getting selected as a machine learning expert.
Salary of a machine learning expert in Mumbai
The average salary of a machine learning expert is around 6 lakhs per annum in Mumbai.
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2. Blockchain Developer
You have heard of terms such as Cryptocurrency and Bitcoin, which have made Blockchain an exciting sector for large corporations to explore. Its advanced technological features allow organisations to make their process highly safe and secure. It can help in boosting other sectors like finance, healthcare and communication.
You can also start your journey as a blockchain developer, which is among the highest-paying jobs in Mumbai.
The skills required to be successful in this job are
- Web development
- Cryptography
- Hyperledger
- Blockchain
- Smart contracts
Educational Qualification
It would be best if you had a graduate degree in Engineering and related subjects.
How to enter this field
Pursuing specialisation in Blockchain or any other domain will help you settle in this job. Moreover, the certification program in Blockchain from IIT Bangalore will teach you basic and advanced skills in this field.
Salary of a blockchain developer in Mumbai
Blockchain developers receive a high amount of money in this city of dreams. You may observe the shortage of these professionals and due to which companies willingly pay well for this profile. Their pay range can be around Rs. 45 lakhs p.a, making it one of the highest salary jobs in Mumbai.
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3. Data scientist
Data science is counted among the top job sectors of India. However, it is in an emerging phase but brings high growth potential for job seekers. Working for this job in Mumbai, these professionals remain responsible for collecting and studying data. Thanks to these professionals, companies can get helpful insights from large data sets for their benefits.
Few people dare to enter this challenging field, that is why data scientists can easily find this job in any place. As per the statistics, there has been a rise of 40% in data science jobs for the past 2-3 years. Consequently, it has seen a growth in employment opportunities which helped it rank in the list of lucrative jobs in Mumbai.
Skills required to be successful in this job are –
- Understanding of complex algorithms
- Programming knowledge
- Business mindset
- Machine learning
Educational Qualification
There is no specific specialisation for this field, but you need to be at least a graduate. To enhance your skills, you can pursue short-term courses in data science.
How to enter this field
You can enrol in a PG diploma or certification courses at IIT Bombay or can go for a master’s program if you have already graduated.
Salary of Data Scientist in Mumbai
Data scientists can earn about Rs. 7 lakhs annually and even more, after increasing their skills and experience.
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4. Management Consultant
Managing a business is not a cup of tea since it involves various technical and non-technical challenges. Therefore, management consultants are always in demand and have become lucrative job options for job seekers. It also falls under the category of highest paying jobs in Mumbai, which requires you to work in a fast-paced environment.
Experts in this field help companies to continuously eradicate obstructions in their process. Their ability to do this can make an organisation work efficiently.
Skills required to be successful in this job are-
- Deep knowledge of business and marketing, including finance
- Praiseworthy communication skills
- Ability to find solutions to any complexity in the process
- Ability to encounter challenging situations
Educational Qualifications
A graduate degree in business, management or a related domain will work well in this field. An MBA will be the cherry on the cake if you plan to be a management consultant. It will increase your chances of getting selected for this high-paid position.
How to Enter This Field
You should obtain some practical experience and become familiar with the process involved. Along with this, you should stay updated with current technology and skills that can help you become a right candidate for this job.
Salary of Management Consultant in Mumbai
The salary of a management consultant in Mumbai is around Rs. 11 lakhs p.a.
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5. Full Stack Software Developer
Software developers are professionals whose salaries remain in six figures and tech giants like Microsoft and Google keep hiring them. Their primary responsibility is working on a website’s front, and back ends.
The front end is what you see when you open a website on your device, and the back end is where developers work to make a website work.
Skills required to be successful in this job are-
- Firm grasp of UX, UI and web design
- Strong communication skills
- Work according to to set deadlines
- CSS, HTML and JavaScript
Education Qualifications
Completing your Bachelor’s in Engineering and related areas of study will make you eligible to apply for this job.
How to Enter This Field
Learning a programming language and website development would make it easier for you to excel in this industry. Always remember to create your portfolio to showcase your work to hiring managers. Additionally, you can enroll in a full-stack development course to gain theoretical and practical knowledge of this domain.
Salary of a Full Stack Software Developer in Mumbai
A full-stack software developer’s average salary is around Rs. 5 lakhs p.a in Mumbai.
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6. Investment Banker
Investment banker is a highly desirable position which comes under the category of the money making jobs in Mumbai. Investment bankers work for financial institutions where clients seek advice on managing their funds effectively.
Skills to be a successful in this job are-
- Effective business strategy
- Knowledge of finance and international business
- Strong communication skills
- Data & statistics
- Strategic thinking
Educational Qualifications
Degrees such as an MBA in finance will surely give you an edge over other candidates for this position. Apart from this, you can also apply for short-term courses in this domain which various institutes offer.
How to Enter this field
Get a degree in MBA, and with some practical experience, you will be ready to enter this field.
Investment Banker Salary in Mumbai
On average, an investment banker earns around Rs. 19 lakhs p.a.
7. Product Management
Most companies keep launching new products as part of their business strategy. Any kind of barrier in this might result in an imbalance in the company’s profit margins. To accomplish this goal, competent product managers carry out the launch of new products within an organisation.
Due to the complexity of this procedure, these experts work on product research, development, testing, etc.
This position has consistently ranked among the highest-paying jobs in Mumbai.
Skills required to be a successful in this job are-
- Working in a team and collaborating with other members of an organisation
- Study consumer behavior
- Work on deadlines and present resources
- Conduct market research and competitor analysis
Educational Qualification
There is no specific qualification for this job, but you must complete your undergraduate degree before you start working in this field.
How to enter this field
If you want to work as a product manager, you should have an MBA or a specialisation in marketing and finance. This will help you enter one of the profitable jobs in Mumbai which has high growth potential.
Salary of a product manager in Mumbai
As a product manager in Mumbai, your average salary will be around Rs. 11 lakhs p.a and more if you are an expert in your field. This is why you should consider it one of the rewarding jobs in Mumbai.
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8. Corporate Lawyer
The title indicates that these experts superwise the legal framework of a corporation. Without question, it is a remunerative job in Mumbai, and almost all companies require a Corporate Lawyer to resolve their legal concerns and problems.
Corporate lawyers help organisations meet the legal requirements of business deals, transactions and agreements. In addition, they also ensure that all business operations keep running under the concerned rules and regulations.
Skills required to be successful in this job are-
- Strong background in mathematics and business awareness
- Analytical acumen
- Strong research skill
- Client handling
Education Qualifications
LLB is the best degree if you opt to be a corporate lawyer or have the ability to manage everything in accordance with laws.
Salary of a corporate lawyer in Mumbai
A corporate lawyer can earn around Rs. 7 lakhs p.a in Mumbai.
9. Judge
We know that a Judge is a highly respected position and has a crucial responsibility in any nation’s judicial system. Their primary duty is to uphold justice in issues affecting people’s daily lives. It is also categorised among the most attractive jobs in Mumbai owing to its nature of social responsibility.
Judges oversee every case within the parameters of the law and justice. They consider both sides of any argument before a judgement and give a decision according to their findings. They must be fair and impartial which are the most significant ethics of this profession.
Skills required to be a Judge
Most law graduates aspire to be selected as judges due to it being one of the prestigious jobs in Mumbai or any other state. To be selected for this position, you must complete a certain level of education, such as a bachelor’s or master’s degree in law. Additionally, strong analytical and decision-making abilities can help you comprehend cases and hearings in a courtroom. You should also be proficient in writing and critical thinking.
Education Qualifications
You find three levels of judiciary in India, the Supreme Court, high and subordinate courts. The highest judicial authority in the country is the Supreme Court, after which other state and subordinate courts come.
All these courts have different education qualifications-
If you aspire to be a judge in the Supreme Court, you need to have Indian citizenship, a degree in LLB/LLM and have worked as an advocate for 10 years or held a position at the Indian Judiciary for 10 years.
If you aspire to be a judge in any subordinate court, you need to have Indian citizenship, a degree in LLB/LLM and have cleared the Public Service Commission Examination.
Salary of a Judge in Mumbai
It is one of the most paid and regarded jobs in Mumbai. The Chief Justice of India earns Rs. 30 lakhs p.a. However, The High Court Judge is paid Rs. 27 lakhs p.a., and the salary of a Judge of a Subordinate Court is around Rs. 3 lakhs p.a.
10. Chief Executive Officer or CEO
The CEO of a company remains responsible for effectively managing the operations of a business. With the help of effective planning and execution, they work to achieve a company’s goals. In return for all these duties, this position is named one of the profitable jobs in Mumbai. They are called a vital pillar of the company they work for. Working in this position is the dream for many management graduates.
Skills required to be successful in this job are-
- Deep knowledge of managing finance and business operations
- Ability to communicate effectively
- Practical knowledge of managing a business.
Educational Qualifications
Choose a degree according to the sector in which you are willing to work, and getting a master’s degree in the same will be advantageous but not mandatory. However, this position requires you to be an expert in your domain with practical knowledge.
Salary of CEO in Mumbai
The average salary of a CEO in a state like Mumbai is around Rs. 46 lakhs p.a.
Conclusion
Hence, we end our discussion on the top 10 highest-paying jobs in Mumbai, and these mentioned positions ask you to be well-trained in the required skills. We wish you all the best for your next steps towards your dream career.
