Top 10 Highest Paying Jobs in Mumbai [A Complete Report]

What’s the most important thing you look for in a job? The job’s benefits? The title? Chances are, you look for the pay it offers. All of us do. Money is undoubtedly a huge factor in our lives. Additionally, when you’re looking for a career, you’d surely want to enter a sector which pays handsomely. 

We listed the top highest paying jobs in Mumbai. This list is updated and irrespective of your work level, beginner/entry-level or middle level, these will help you decide the direction you want to go in next. If you are aspiring for one of the best jobs in Mumbai, the salary package is not the only factor. Career growth, job security, and reputation make a career attractive.

To help you in this search, we’ve assorted a list of the highest paid jobs in Mumbai. Note that salaries depend on a lot of factors such as company, experience, knowledge, and training. The better you’d be in these fields, the higher would be your salary. Also, note that different industries pay different salaries so it would be unfair to compare those as well. 

Highest Paying Jobs In Mumbai

1. Machine Learning Expert

Artificial intelligence and machine learning are generating a lot of buzzes and for the right reasons. Machine learning experts are among the highest earners in Mumbai (and in India). Machine learning is a branch of AI where a computer learns to perform an application through iterations. They have to be familiar with multiple advanced concepts of artificial intelligence to determine the best solution for a problem as there are many types of machine learning algorithms present. It has always been one of the best jobs in Mumbai, and dealing with money – yours and others – is the stuff of dreams.

Most in-demand Skills

  • Programming in Python / R
  • Being able to prepare presentations, reports, and data visualisations 
  • Being able to derive non-technical insights from complicated data

Required Educational Qualifications

Companies look for engineers, software professionals, IT professionals, and data professionals with at least 1-year working experience for such roles. On the other hand, candidates could have a Bachelor’s in Statistics or Mathematics as well. 

How to Enter This Field

To become a machine learning expert in Mumbai, you must get familiar with the various concepts of artificial intelligence and its algorithms. You must also have programming skills to bag such roles. 

upGrad offers a comprehensive machine learning course with IIIT-B, which can help you learn all the skills needed to become an ML expert. 

Machine Learning Salary in Mumbai

Average machine learning engineer salary in Mumbai is ₹6,24,479.

highest paying jobs in mumbai

How machine learning engineer salary increases over experience

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2. Blockchain Developer

Since the arrival of cryptocurrencies, particularly Bitcoin, blockchain has become a popular sector among companies and organisations. Blockchain has unlocked an entirely new area of technology we can explore. Its decentralised nature and high-end security can improve many industries, including finance, logistics, healthcare, and communications. 

You can become a blockchain developer and become a part of this industry as well. Apart from being novel and challenging, it is also among the highest paying jobs in Mumbai

Most in-demand Skills

  • Cryptography
  • Web development
  • Knowledge of blockchain and its structure
  • Smart contracts (their development and use)
  • Hyperledger

Required Educational Qualifications

You should have a Bachelor’s in Engineering to pursue a career as a blockchain developer. However, you don’t need to have coding experience. 

How to Enter This Field

You can become a blockchain developer by taking a detailed course in this domain. IIIT Bangalore has a blockchain certification program in which you can enrol and learn all the concepts and relevant skills to become a blockchain professional. 

Blockchain Developer Salary in Mumbai

Salary of blockchain developers in Mumbai is among the highest in the region. There’s a severe lack of skilled experts in this field, so companies pay handsomely to blockchain professionals. Your pay can go up to 45 lakh per year which makes it one of the highest salary jobs in Mumbai. 

Read: Highest Paying Jobs in India

3. Data Scientist

Data science is among the hottest fields in India. It is a relatively new sector but offers some of the most lucrative opportunities. One of the highest paying jobs in Mumbai, Data scientists organise and manage large amounts of data companies collect. They analyse data to find new and valuable insights to direct future decisions and plans of their organisation. 

It’s an interdisciplinary field, and due to its specialised nature, there’s a massive shortage of data scientists in the industry. Significant evidence of this fact is the nearly 40% rise in demand for data scientists since January 2019. When we compare it with 2013’s numbers, the demand has risen by 300%. In other words, the industry is in desperate need of data scientists, which is why it is among the highest paying jobs in Mumbai. It has always been one of the best jobs in Mumbai, and dealing with money – yours and others – is the stuff of dreams.

Most in-demand Skills

Some of the essential skills you should have as data scientists are:

  • The ability to use complicated formulas
  • Business acumen (the keenness and quickness to understand ‘business situations’ and solving relevant problems)
  • Programming 
  • Knowledge of consumer psychology
  • Machine learning

Required Educational Qualifications

The best thing about becoming a data scientist is you only need to be a graduate to pursue a career in this field. 

How to Enter This Field

You can get a PG Diploma in Data Science from upGrad and IIIT-B to get the required skills and become a data scientist. On the other hand, you can get a Master’s in Data Science and work on projects to do the same. 

Data Scientist Salary in Mumbai

Average data scientist salary in Mumbai is ₹7,87,321.

highest paying jobs in mumbai

How data scientist salary in Mumbai increases over experience

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4. Management Consultant

Companies face various problems in the business world, and many times, they look to experts to solve them. These experts are management consultants. There’s always a considerable demand in the market for management consultants. So, the pay in this role is also very lucrative. In addition to being one of the highest paying jobs in Mumbai, it is also a fast-paced one.

Management consultants identify the problems present in the aspects of a business and help solve them. They might improve any or all aspects of a company as required, such as productivity, scale, or reputation. 

Most in-demand Skills

  • Understanding of finance, economics, business, and marketing
  • Excellent communication skills, both oral and written
  • Analytical and problem-solving ability
  • Being able to work under pressure and face challenges

Required Educational Qualifications

To become a management consultant, you should have a Bachelor’s in economics, finance, business, the management or any related field. You can also get an MBA to enhance your career prospects and develop the skills this job requires. 

How to Enter This Field

Management consultation requires industry experience so you’d have to work as a management professional first before you apply for this role. Getting familiar with the latest technologies and skills can help become a management consultant. 

Management Consultant Salary in Mumbai

Average management consultant salary in Mumbai is ₹11,72,307.

highest paying jobs in mumbai

How management consultant salary in Mumbai increases over experience

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5. Full Stack Software Developer

Software development has always been one of the most lucrative fields in Mumbai. As a full-stack developer, you can bag a job in some of the most prestigious companies, such as Microsoft, Infosys, Google, and others. A full-stack developer handles the front-end as well as the back-end of a website or software. 

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The front-end is what a user sees and interacts with, and the back-end is what allows the software to run and perform its functions. They usually work with teams and assist them in development. 

Most in-demand Skills

  • HTML, CSS, JavaScript
  • Ability to notice small details to avoid errors
  • Communication skills
  • Ability to meet deadlines
  • Understanding of Web design, UI, and UX

Required Educational Qualifications

You should have a Bachelor’s in Engineering, but you don’t need coding experience.

How to Enter This Field

To become a full-stack developer, you must have a deep understanding of multiple programming languages related to front-end and back-end development such as HTML, Python, JS, and CSS. Apart from that, you can work on projects to create a portfolio which you can show to recruiters. You can take a course in full-stack development to learn these skills and get projects as well. 

Full Stack Software Developer Salary in Mumbai

Average full stack developer salary in Mumbai is ₹5,92,348.

highest paying jobs in mumbai

How full stack developer salary in Mumbai increases over experience

highest paying jobs in mumbai

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6. Investment Banker

Investment banking is among the highest-paying sectors all over the world, so it makes sense for it to be among the most lucrative areas in Mumbai. An investment banker works in a financial advisory firm and assists individuals and companies in managing their finances. They usually handle investments for large corporations and organisations along with managing IPOs (Initial Public Offerings), bonds, mergers, acquisitions. 

Most in-demand Skills

  • Ability to think and plan strategically  
  • Statistics
  • Design thinking
  • Adept in financial strategies and international business
  • Familiarity with business growth strategies
  • Ability to convey technical details and insights in non-technical terms 
  • Communication skills

Required Educational Qualifications

You must have an MBA in Finance to enter this sector. On the other hand, if you’re not interested in a degree, you can also enrol in the TheWallStreet School in New Delhi, which provides a 6-week course to graduates who want to enter the corporate world. 

How to Enter This Field

To become an investment banker, you should first get an MBA (as we discussed above) and gain some professional experience. 

Investment Banker Salary in Mumbai

Average investment banker salary in Mumbai is ₹1,951,380.

highest paying jobs in mumbai

How salary of investment banker in Mumbai increases over experience:

highest paying jobs in mumbai

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7. Product Management

In the current market, companies have to release new products continually to thrive. If they delay, they risk losing their market share to a competitor who releases products faster. Due to this fast-paced nature of the market, companies now look for product managers who can handle the lifecycle of a particular product.

Product managers are responsible for every stage of a product’s lifecycle, which means they handle a product’s research, creation, development, testing, deployment, and performance. Product management is also among the highest paying jobs in Mumbai. 

Most in-demand Skills

  • Market research and competitor analysis
  • Ability to understand consumer behaviour and sentiments
  • Ability to lead teams and collaborate with other departments
  • Being able to set and meet deadlines according to the resources available

Required Educational Qualifications

You should have an undergraduate degree. 

How to Enter This Field

To become a product manager, you will need certification in product management or an MBA with specialisation in marketing. upGrad offers a unique product management course where you get to learn in-demand skills such as user design, market research, and others from leading experts and thought-leaders. It has always been one of the best jobs in Mumbai, and dealing with money – yours and others – is the stuff of dreams.

Product Management Salary in Mumbai

Average product management salary in Mumbai is ₹1,107,526.

highest paying jobs in mumbai

How product manager salary in Mumbai increases over experience:

highest paying jobs in mumbai

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The average salary of product managers in Mumbai is 12 lakh per annum. The lower limit for this role is 7 lakh per year whereas the upper limit goes up to 23 lakh per year making it one of the highest paid jobs in Mumbai. In Mumbai, you can get a product manager in some of the most reputed organisations of the country such as Tata Consultancy Services and ICICI Bank which makes it one of the highest salary jobs in Mumbai. 

8. Corporate Lawyer

A job which gets a lot of coverage on TV shows and movies, corporate lawyer is also among the highest paying jobs in Mumbai. Corporate lawyers help businesses with their legal rights, responsibilities and obligations. The demand for corporate lawyers is soaring as the number of companies in India is growing steadily. 

As a corporate lawyer, you’d help companies on how to structure their business, perform deals, and handle their legal obligations. Corporate lawyers help businesses in designing their agreements and transactions. 

Most in-demand Skills

  • Numerical ability
  • Business awareness
  • Analytical and numerical skills
  • Ability to handle client confidentiality
  • Being able to perform thorough research 
  • A keen eye for details

Required Educational Qualifications

You must have a Bachelor’s degree in law (LLB) to qualify. 

How to Enter This Field

Most corporate lawyers have a Master’s degree in law (LLM) with specialisation in corporate law. They are familiar with banking and financial law, M&A transactions, corporate insolvency law, and many others. You can enrol in our LLM in Corporate & Financial Law as well, which we offer in partnership with India’s #1 Law School, Jindal Global Law School. 

Corporate Lawyer Salary in Mumbai

Average corporate lawyer in Mumbai is ₹7,16,860.

highest paying jobs in mumbai

How corporate lawyer in Mumbai increases over experience:

highest paying jobs in mumbai

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The average salary of a corporate lawyer in Mumbai is seven lakhs per year. With some years of experience, this number can go up to 20 lakh per year as well. These numbers quickly make it one of the highest paid jobs in Mumbai. Industry experience and understanding of relevant fields are crucial to advance in this sector. 

Check out: Highest Paying Jobs in Commerce Field

Conclusion

These are the top 10 highest paying jobs in Mumbai – that will help you grow financially / that will be in demand. We hope we made choosing your career easier through this article. Money is a great reason to select a field, but you should also keep your interests in mind during the selection. 

Which job did you like the most? Let us know in the comments below.

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