Making a living in the financial sector is not easy. The financial realm is extremely competitive, so you'll need to perfect the art of finding the ideal employment. Let's be honest: if you did very well on the CAT exams, you would only apply to the best business schools in the country, right?
The same holds true for beginning your career as a manager or analyst in the nation. Having a great institution isn't enough; you also need a fantastic city. Some could disagree from this view since they might be aiming to settle overseas.
But if you're looking for the classiest place to launch your financial career, what location would you recommend? So, instead of just one, we provide ten excellent options.
Prime Locations for a Financial Services Career
The following is a select list of the top Indian cities in which to pursue a career in the financial sector.
If you want to see India's true economic and corporate domination, come to Mumbai, which is also regarded as India's financial centre. The entire city is packed with noteworthy and reputable banks, and other institutions oriented towards the finance backdrop. The city is home to several financial institutions, including the central offices of RBI and SBI.
The greatest thing is that, depending on your level of expertise, you may expect a starting salary anywhere from INR 5,000,000 to INR 12,000,000 per year, with annual increases of 10% to 12%. Contrary to first impressions, not everything is as perfect as it looks. Overpopulation, increased competition, and a high cost of living may not be suitable for everyone. If you are prepared to consider all of these factors, it is a great location to begin your professional career.
Gurgaon, India, is the second city in the list.
When compared to projections, the city's influx of millennials has been above average. In search of better financial and professional prospects, many people go there. Offices of well-known accounting firms such as Deloitte, Ernst & Young, PricewaterhouseCoopers, and others may be found in this area.
Other major corporations have recently set up shop here, and they all seem to be on the hunt for qualified business strategists and analysts. It's the pinnacle of the management careers available in Gurgaon. However, the city isn’t designed for everybody. No doubt, everything appears good and lovely, you could find it different given its industrial layout and more rivalry for jobs. The typical annual pay is around eight to nine thousand dollars, with yearly increases of around ten percent.
Delhi is a hub for many different types of businesses, industries, and IT, making it an ideal place to begin or advance a financial services career. Given its political wealth, its sporting apparel is an interesting mishmash. A number of banks and financial organisations, including several multinational ones, are located in the city. There are a few excellent options for people thinking about a career in management.
The city offers a starting income of 6-7 lakhs a year depending on your level of expertise, with growth of roughly 10%-11% annually. There is a good social scene and the cost of living is relatively low, making it a desirable place to call home. There is always more work to do, no matter how magnificent a city may seem. If you want to get ahead in this city, you're going to have to put in some serious effort.
You can see why people refer to Bangalore as "India's Silicon Valley" when discussing the country's technological hub. The city is home to a large number of IT firms, many of which have merged with national and international firms focused on market research and analysis. It's a great way to get your foot in the door of the business world.
Don't fret; the city is home to a number of thriving national and international banks. The typical salary is from 7-8 million rupees per year, with yearly increases of 7% to 10%. But if you want to make anything of yourself in the city, think twice: the prospects are small and the number of individuals pursuing the same targets is high.
In the past decade, Hyderabad has drawn various multinational and national corporations to make the city a part of their increasing effort into the country. It’s the location where you have tech titans such as Google, Facebook, Microsoft and others build up their operations. Even the banking industry has witnessed a meteoric rise, creating unprecedented possibilities and need for qualified professionals.
One might anticipate an average annual compensation of between seven and ten million rupees. Of course, it's important to remember that there are certain items missing from the metropolis. Making an actual difference with your work can lengthen the time it takes to see improvement from one year to the next.
Chennai, number six
Since it is the state capital of Tamil Nadu's financial sector, Chennai is a great spot to put your economic and business plans into action and advance your career. Management and business expertise are in high demand across many industries. There's no going back once you've made your way into the city and set up shop.
A salary of 4-7 million rupees per year is often provided, with possibility for increase according on performance. There are various business and government-oriented employment vacancies in the city that would give a perfect proving ground for what you have to offer in terms of skills and expertise.
Check out this helpful article we wrote on the best finance courses and certifications in India.
7 - Kolkata
Leading as the financial powerhouse of eastern India, Kolkata is no bashful of supplying the foundation blocks of establishing up your management profession. It is the third most famous city for aspiring managers to begin their careers, after Mumbai and Delhi. Both the commercial banking industry and the government-focused banking industry saw substantial growth. Annual salaries are typically between 5 and 10 million rupees.
Coimbatore, despite its many positive qualities, is often overlooked in favour of more popular destinations. Those who want to make it big in the business world will find that New York City provides a great learning environment.
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The area has become well-known for its many successful industrial and information technology firms. The two together might help you land a good career as an analyst or manager. It all comes down to your resume and the position you're applying for. If you're just starting out, a career in business or economics offers respectable pay and a reasonable promotion potential.
If you're looking to launch a career in economics and business, Pune is a great option. Several major financial institutions, including the Bank of New York, UBS, Barclays, WNS, and others, have established operations there in order to better compete for talent. Furthermore, if you are looking into the city extensively, there are no downsides other than the redundancy of being exposed to growth and development. However, your potential annual pay is somewhere between Rs. 6-7 lakh.
Placing Ahmedabad at Number Ten
Those who wish to make a name for themselves in management and have extensive experience can consider relocating to Ahmedabad. While it may be lacking in some areas of IT sophistication, what it lacks in that regard it more than makes up for in its gorgeous, pervasive industrial presence. Competition in the city is considerable but not particularly severe, so tread carefully. If you have financial expertise, you should have no trouble finding a high-paying job with excellent perks. Further, salaries often fall in between 7 and 12 million rupees annually.
Top Indian Cities for a Financial Services Career
Each of the locations on the provided list is a major centre with excellent opportunities for those interested in a career in finance. True, hard work and perseverance are also important, but major urban centres also provide expansion, visibility, and exposure for ambitious people from all walks of life who are interested in the global economy. The bottom line is that you can't go wrong with any of the options.
However, the exposure ratio varies from city to city depending on the monetary effect you hope to have. You may reap huge rewards by making a calculated decision that paves the way for a successful financial career.