Mumbai Market Data

Explore compensation benchmarks, tax liabilities, and cost of living adjustments for professionals in Mumbai.

About Mumbai

Financial services, Bollywood, and consulting combine to set India’s highest salary benchmarks.

Mumbai represents a primary financial and business hubin India, attracting professionals from around the world. The city's strategic location, business-friendly environment, and quality of life make it an attractive destination for career growth and wealth accumulation.

Key Market Indicators

Cost of Living

Index score (100 = global average)

Rent Index

Housing cost indicator

Median Income

₹56,500

Estimated professional median

Tax System in India

India’s new tax regime applies progressive slabs plus a 4% health and education cess. Employees often contribute to Provident Fund and state insurance schemes.

Example Calculation

For a professional earning ₹56,500 annually in Mumbai:

Gross Income

₹56,500

Net Income

₹53,915

Tax Rate

4.6%

Monthly Take-Home

₹4,493

Popular Salary Benchmarks

Explore compensation data for key roles in Mumbai

View All

AI Engineer

₹1,80,000

Estimated base salary

Machine Learning Researcher

₹1,90,000

Estimated base salary

Product Manager

Tech

₹1,35,000

Estimated base salary

Fintech Product Manager

Tech

₹1,50,000

Estimated base salary

Data Engineering Manager

Tech

₹1,55,000

Estimated base salary

Data Scientist

Tech

₹1,25,000

Estimated base salary

Solutions Architect

Tech

₹1,45,000

Estimated base salary

Blockchain Architect

Tech

₹1,60,000

Estimated base salary

DevOps Engineer

Tech

₹1,30,000

Estimated base salary

Site Reliability Engineer

Tech

₹1,40,000

Estimated base salary

Cybersecurity Director

Tech

₹1,85,000

Estimated base salary

UX Designer

Tech

₹1,05,000

Estimated base salary

Investment Banker

Finance

₹1,50,000

Estimated base salary

Private Equity Associate

Finance

₹1,70,000

Estimated base salary

Hedge Fund Analyst

Finance

₹1,60,000

Estimated base salary

Portfolio Manager

Finance

₹2,00,000

Estimated base salary

Quantitative Researcher

Finance

₹2,10,000

Estimated base salary

Venture Capital Partner

Finance

₹2,20,000

Estimated base salary

Wealth Manager

Finance

₹1,40,000

Estimated base salary

Chief Financial Officer

Executive

₹2,50,000

Estimated base salary

Compare with Similar Markets

Singapore

Asia’s premier wealth management hub. Known for ultra-low personal income tax and high expatriate demand.

Hong Kong

A gateway to Asian capital markets. Features a simple, low-rate tax system capped at 17%.

Tokyo

The world’s largest metropolitan economy. Salaries are high, though offset by significant social contributions and taxes.

Osaka

Advanced manufacturing and biotech player with slightly lower living costs than Tokyo.

Shanghai

China’s commercial capital with multinational HQs, venture capital, and generous expatriate packages.

Beijing

Policy, aerospace, and AI research center offering strong cash compensation and subsidies.

Frequently Asked Questions

What is the cost of living in Mumbai?↓

Mumbai has a cost of living index of 70 and a rent index of 59, making it a moderately priced city. Housing costs are manageable relative to other major cities.

How does the tax system work in India?↓

India’s new tax regime applies progressive slabs plus a 4% health and education cess. Employees often contribute to Provident Fund and state insurance schemes.

What is a good salary in Mumbai?↓

For professionals in Mumbai, we estimate the median income at approximately ₹56,500. A salary above this level provides comfortable living standards, while salaries significantly below may require careful budgeting, especially for housing in prime districts.

What industries are strongest in Mumbai?↓

Mumbai is a major business hub with strong presence across multiple sectors. The city's status as a financial and technology center attracts professionals from various industries, with particularly strong opportunities in finance, technology, and professional services.