Once known as the Pensioner’s Paradise, Bangalore today is well known across the globe for its biotech industry. Now that Bangalore is comfortably placed among the top paying cities of India, known for absorbing a huge part of its workforce, let us find out about the best job generating sectors in the city.However before that we would like to highlight few of the attributes of the city which contributes towards its unrivaled position in the Indian job market:
- It has the highest number of Research and Development Centers in the whole country
- 80% of international IT companies have their Research and Development Centers in the city
- It is the 4th largest technology cluster of the world
- Boasting of an economy worth more than 100 billion US dollars, Bangalore forms a major economic center for India.
- Bio Tech Industry: The biotech industry in India is one of its key money spinners. In the year 2006-2007 this industry was worth US 2 billion dollars. Out of the 350 biotech companies spread across the entire country, 53% of them belong to Bangalore alone. With an impressive 135 firms, the biotech industry in the city offers career scope in bio-agri, bio-pharma and bio-industrial firms. Azyme Biosciences, Sangene Biotech and Quantument are some of the best biotech companies in the city.
- IT: The Information Technology sector of Bangalore is touted as one of the biggest grosser in the city in terms of revenue. The city provides jobs to 35% of the 1 million IT professionals of the country. The presence of MNCs like IBM, Dell, Accenture, Wipro, Siemens, and Cisco has gone a long way in consolidating the cityâ€™s position among the IT hubs of the globe. The average annual salary in offing by this industry in Bangalore is INR 604,634.
- Aviation Industry: Often touted as the “aviation monopoly capital” in India, Bangalore is home to some of the major companies in this industry. HAL or Hindustan Aeronautics Limited had its headquarters in Bangalore. Basing its operations mainly on research and development, this industry (one of the biggest public sectors employer in the city) provides jobs to some 9,500 employees here. Global giants who have their research and development centers in the city are Airbus, Boeing, Honeywell, UTL etc.
- Software Development Industry: One of the higher paying industries of the city (INR 614,796 on an average per year), careers here range from project management to software engineering and developing and from quality assurance to programming.
- Government Jobs or Public Sector: The city though known for its IT and ITES industries has witnessed impressive growth of the public sector jobs much before it became the IT hub of India. The public sector provides jobs in health, engineering, property tax, birth certificate, poverty alleviation etc.
Some of the sectors making headway in the city are Hotel industries and FMCG. It can well be said that these two will become the major draw for the city’s workforce in the years to come.