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Moving to Mumbai
Expatriates who are looking to earn some of the world’s highest salaries, are turning away from the lucrative and exclusive expat neighbourhoods of Dubai and are seeking new opportunities in the Indian city of Mumbai. According to a survey conducted by HSBC Bank International, Mumbai actually tops the ranks for the highest expat salaries in the world, with average earnings sitting at approximately $217,165! Here, we’re taking a closer look at why the world’s highest paid expats are heading to Mumbai.
Career opportunities in Mumbai
A main reason for expats to move to Mumbai is a result of the extensive career opportunities there. Every industry offers an opening for expatriates to capitalise on, and with some of the world’s largest corporations operating in the area. Tata Group is one such corporation which comprises of more than 100 companies in various business sectors such as IT and engineering.
Highest paying careers in India
There are numerous careers which offer excellent wage packets for expatriates in Mumbai, even if the individuals do not boast extensive degrees or other qualifications. Growth hacking was one of the highest earning careers in 2017 and offers rapid experimentation across marketing and product development. The minimum qualification for this particular role is simply a degree, with salaries ranging from Rs 60,000 to Rs 3 lakhs a month. This is equivalent to $922.80 to $4,614.00 a month. This tops out at $55,368 annually. For those looking for higher paying careers, management professionals, investment bankers, oil and natural gas sector professionals, and aviation professionals tend to reach the top of the list.
One of the major benefits for expats moving to Mumbai with their family is the world-class schools which are available in the country. The three top international schools include the American School, German School and Ecole Francaise. Education is a priority for many families, and while the admission process can be challenging (which means parents may want to consider applying up to six months in advance), the options are somewhat endless to provide excellent standards of schooling for children.
With some of the most world-class hospitals located in Mumbai, expats are able to benefit from top quality treatments, without the premium costs attributed to them. Many tourists will often travel to the country to benefit from the low cost of expert procedures, but expats can benefit from these on a daily basis. Private clinics are generally the options suited to expats in the country, with English speaking staff and associations with international groups and universities. However, it is important for expats to have medical insurance.