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Mumbai as the Financial Capital aids Job Seekers

Updated on August 24, 2015
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Mumbai, earlier known as Bombay, has crucial significance in the lives of people across the nation. Some address it as the entertainment capital of India and others call it as the New York of the East. Mumbai is India's financial and commercial capital as it generates 6.16% of the total GDP. People rely on it as the city feeds a large number of people by offering several jobs.

It plays a crucial role in the growth and development of the Indian economy. It has attracted a large number of national and multinational firms since a long time. The supremacy of this city has led us believe on its caliber of catering people in several ways including fruitful job, cheaper yet better living etc. If someone asks specifically about what kind of job, we can say that the city offers best finance job in Mumbai.

Excerpt from History

The British Raj got this island from the Portuguese as part of the dowry when Catherine of Braganza got married to King Charles II. Nobody saw any great future for this deserted string of islands. The discovery of a protected deep sea harbor made the perception of the East India Company positive towards the deserted string of islands. They shifted their Western India headquarters from Surat to Bombay (Mumbai’s earlier name).

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The Present

It was known as the ‘Gateway’ to India in colonial. In fact, it remains so even today. It has dominant urban landscape of the western part of the country. Its characteristics being the center of financial services, capital markets and manufacturing provide ample amount of jobs here. The finance boom in the mid-nineties made this city see immense growth and experience the establishments of modern era financial institutions. It has headquarters of almost all major banks such as:

Banks
Banks
Banks
The Reserve Bank of India
The Bombay Stock Exchange
The National Stock Exchange of India
The SEBI
Bank of India
Central Bank of India
Dena Bank
IDBI Bank
State Bank of India
Union Bank of India
Axis Bank
Bank of Rajasthan
Development Credit Bank
Federal Bank
HDFC BankIndusInd Bank
IndusInd Bank
Jammu & Kashmir Bank
Karnataka Bank
Kotak Mahindra Bank
Lakshmi Vilas Bank
Ratnakar Bank

Major Locations for Jobs

As the city is a prime location for banking, financial services and insurance (BFSI) sector, we can call it as the hub of all financial activities. Good connectivity to other parts of the city, comparatively low real estate cost and sound infrastructure in Andheri and Goregaon are the major reasons to choose the said parts of Mumbai as the best locations for various financial institutions.

Andheri

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Andheri

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The Impact of Time Zone

Mumbai's location extremely favors day-long business across time zones. Tokyo is three and a half hours ahead to Mumbai. The city is four and a half hours ahead to London and nine and a half hours ahead to New York. The time zone helps Mumbai collaborate with the world leaders easily. It helps keeping the dealings connected in the business hours.

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Different Types of Finance Career Here

Almost any career that involves money planning through acquisition, payment, or growth can be considered a finance career. Mumbai, being the financial capital, has different types of finance careers. From specific financial institutions like banks to numerous companies that require professional to navigate money matters and make wise investments, Mumbai has everything. You can consider the following career in finance here in Mumbai:

1) Banking

Many finance careers are housed within banking institutions in Mumbai. You can start out as a teller, assist with deposits and withdrawals, educate consumers about various account options. If you want to move towards more advanced personnel work with experience you are gaining year-on -year, you can apply as account managers and loan officers further. Investment banking has lucrative career possibilities.

2) Accounting

Accounting career involves dealing with financial reconciliation and money related obligations. If you want to try a very fruitful career, tax accountancy is a popular career. You need to deal with filing and preparing tax returns. Companies require in-house accountants and Mumbai has numerous opportunities available.

3) Financial Planning

Dealing with money is always complicated for businesses and individuals. That is why, financial planning is required. It is among the most lucrative career options. You have to help clients make the most of what they have in their hands. Financial planners often structures retirement and pension plans.

4) Investments and Stocks

Mumbai has headquarters of National Stock Exchange of India and Bombay Stock Exchange. It can provide you better opportunities in the stock market. Either you can work through the actual trade floors or through your office to assist the investors. You can analyse the market trends in the real time and plan the buying and selling accordingly.

5) Insurance

You have abundance of job opportunities in insurance sector here in Mumbai. Insurance houses require underwriters who can calculate premiums, insurance rates and fees. You have to understand the market trends and demographic charts. Insurance sector is a wide sector from life insurance, auto to medical insurance.

Basic Career Options

Following are the types of finance jobs in accountancy, banking and finance sectors:

  • Senior tax professional/tax inspector
  • Tax adviser
  • Accounting technician
  • Actuary
  • Chartered public finance accountant
  • Corporate investment banker
  • Corporate treasurer
  • Financial adviser
  • Financial trader
  • Internal auditor
  • Investment analyst
  • Operational investment banker
  • Retail banker
  • Financial manager
  • Financial risk analyst
  • Chartered accountant
  • Chartered management accountant

Opportunities for Freshers

Mumbai, the land of riches, can never see anyone wondering for jobs. If you are a fresher and looking for finance job In Mumbai, the city will never let you down. It provides freshers a reason for survival here where many private sector banks offer banking jobs. They have openings for different profiles. The city provides best career possibilities to polish the skills and gain experience to move to better positions in further in life.

Opportunities for Experts

If you want to move from your current city where you are working in financial sector, Mumbai would be one of the best destinations to switch. Experienced have many opportunities waiting here in the form of various jobs in finance sector. You can consider the city as your final destination career wise.

Opportunities other than Financial Institutions

Financial institutions are not the only source of jobs here. Career in finance is not limited to banks. Whether you are a fresher or a professional, you can find ample finance Job In Mumbai in various other sectors. If you see finance jobs in financial sector, it is your misconception. You can find such career possibilities in any of the below mentioned field as well:

  • Entertainment Sector (Bollywood)
  • Automotive Parts
  • Clothing
  • Textile Mills
  • Pharmaceuticals
  • Import
  • Export
  • IT
  • Health Care

Conclusion

Mumbai has grown so much and so are career possibilities in finance sector here. We have different proofs in the forms of mushrooming headquarters of private and public sector banks. IndusInd Bank and Axis Bank are the latest examples of growing finance sector of Mumbai. It has other industries as well which provide various career opportunities to people whether they are professionals or freshers. In fact, it has its own personification as the financial capital of India. It is not controlled by Delhi likewise New York by Washington. The city lives on its own terms. We can hope more from Mumbai in future. You should not any further and try your luck here in the city of hopes. The city would love to facilitate job seekers till eternity!

Do you see Mumbai as the best job providing destination in finance sector?

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