Are you planning to build a career in finance? Wondering, which is the best city to start your financial job? Here we have listed some of the best cities to build a good career in Finance in India.
Making a career out of finance isn’t a piece of cake. Well, you need to get your etiquettes of landing the right job perfectly to even get something out of the financial universe. Let’s be frank; if you were to get an excellent rank in your CAT examinations, then you would choose the top business colleges in the country, right?
The same implies starting your business, managerial, or analyst journey in the country. You don’t just need the college to be right, but you need the city to be great as well. Some might differ from this notion as they might be looking to settle abroad.
However, if you want to know the perfect city where you can kickstart your financial career in the most fashionable way possible? Then we don’t have one but have ten different cities that will not disappoint.
Best Cities for Career in Finance
If we specifically consider India, then there are some cities that can offer a lot more to the freshers and experienced people than others. They can offer better opportunities, salaries, exposure and even career growth. Obviously, talent is worshiped everywhere but we cannot ignore the skillset. So, if you are looking for the right city, then your search has definitely ended here!
Top Cities of Building a Career in Finance
Here is an exclusive list of best cities to build a career in the financial field in India:
1. Mumbai
Also known as India’s financial capital, Mumbai showcases its real dominance in the business and economics sector. The entire city is packed with notable and reputable banks, and other institutions belong towards the finance background. The headquarters of RBI, SBI and other banking institutions are present in the city.
The best part is that you can get a starting package of 5 lakhs – 12 lakhs per annum based on your work experience with a 10%-12% year on year growth. However, not everything is as good as it seems. The high cost of living, the stiffer competition and overpopulation in the city, might not be for all. If you are ready to look over all such things, then it’s one of the best places to kickstart your career.
2. Gurgaon
The city has been outperforming its estimates in terms of millennial migration from other cities. It’s become a hotspot of financial seekers and career opportunists to see what they can achieve. Prominent companies like Deloitte, EY, PwC and others have their offices set up here and for anyone well versed in the financial field can be easily associated with them.
Other prominent companies have been set up in the city seeking for business strategies and analysts. It’s quite the culmination of managerial jobs that Gurgaon has to offer. However, the city isn’t made for all. No doubt, everything looks fine and dandy, you might find it different given its industrial layout and greater competition for jobs. Speaking of employment, the average salary you can take home is 7-8 lakhs per annum with 10% year on year growth.
3. Delhi
Delhi is a melting pot for several industries, IT sectors and business to come together, providing a perfect platform for a career in finance to flourish. It’s quite the amalgamation given its rich political attire is sports. The city comprises of several banking institutions and sectors including international banks. There are some notable management colleges for those that are interested.
If you are looking at the city in terms of salary-wise, then you can get a starting salary of 6-7 lakhs per annum based on your experience with the growth of about 10%-11% per annum. It’s a favourable city given its average cost of living and great social life. No matter how great the city might be, the grind never stops. You will have to work hard if you want to make it anywhere in the city.
4. Bangalore
Bangalore is known as the silicon valley of India, and it’s for a good reason. Many IT companies combine with other international and national analysts oriented companies established in the city. It offers excellent scope for a kickstarting your career in economics and management.
Don’t worry; there are multiple national and international banks present in the city that thrive. The average compensation you could get is somewhere around 7-8 lakhs rupees per annum with 7%-10% year on year growth. However, if you aim to make anything out of yourself in the city, then think twice, the opportunities are limited and the people attacking the same are plenty.
5. Hyderabad
In the past decade, Hyderabad has attracted several international and national companies to make the city a part of their expanding venture into the country. It’s the place where you have tech giants such as Google, Facebook, Microsoft and others set up their offices. Even the banking sector has blown out of proportion with incredible opportunities and demand for experienced individuals looking to make something in the financial field.
The average salary that one can expect is 5-7 lakh rupees per annum. But then keep in mind that the city does lack a few things here and there. Also creating an impact in what you are doing will take considerably longer to get a year-on-year growth.
6. Chennai
Hailing as the financial capital of Tamil Nadu, Chennai, is another excellent place to implement your economic and business strategies and see your career shine. There are a broad range of business sectors looks for individuals from management and business backgrounds. If you break into the city and establish yourself, there’s no looking back.
The average salary offered in 4-7 lakh rupees per annum with growth limited based on work and productivity. There are several private and government-oriented job openings in the city that would provide a great proving ground for what you have to offer in terms of skills and knowledge.
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7. Kolkata
Leading as the financial hub of eastern India, Kolkata is no shy of offering the building blocks of setting up your managerial career. Right after Mumbai and Delhi, it’s the third most prominent city where aspirants can kickstart their managerial careers. The private and government-oriented banking sectors flourish significantly. The salary’s received are generally between the range of 5-10 lakh rupees per annum.
8. Coimbatore
Coimbatore is quite the underdog in the list that doesn’t get enough recognition based on what it truly offers. The city offers a broad exposure curve for aspiring candidates looking to make it big in the financial and managerial sectors.
The region is famous for industries and even IT companies. Combing the both could fetch you a decent job as an analyst or as a manager. It depends on your experience and job application. The salaries are quite decent, and the growth curve isn’t bad given that you are just starting your career in commerce or any one of the fields of business and economics.
9. Pune
Pune is another excellent place to have your career started in the economic business category. Its where significant players such as the bank of New York, UBS, Barclays, WNS and others have set up their companies to attract potential talent. Moreover, if you are looking much into the city, then there are no drawbacks besides the fact that the exposure to growth and development is redundant. However, the salary you might get is in the range of 6-7 lakh per annum.
10. Ahmedabad
Ahmedabad is the best city for those looking towards imprinting their names in the managerial side of things along with significant exposure. No doubt, it lacks the IT inflexion, it does make up beautifully for the industrial widespread is thrives upon. Beware, the competition in the city is high but not that fierce. If you are a well-versed person in finance, getting a well-paid job with great benefits is feasible. Moreover, the average salary ranges from 7-12 Lakh rupees per annum.
Best Financial Career Cities in India
The given list of cities are prominent hubs for anyone looking to have a bright future in finance. Well hard and determination does paly a fair share in the success, but then these cities provide the opportunity, growth and exposure for aspiring enthusiasts of the economic universe. Choosing any one of them will not disappoint.
No doubt, one should grab the best possible opportunity available to him. But working at a single place for long-time can often become tiring. Changing in like every 5 years is a good plan to keep on getting better packages. But this doesn’t mean you have to leave a satisfying job for it! Be clever to make the right decision.
However, based on the financial impact that you’re aiming to create, every city provides a different exposure ratio. Choose wisely to avail significant benefits in laying out the groundwork for a robust career in finance.