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Fresher’s Guide To Existing Job Market in India
Number of Graduates in India
As quoted in the Indian Constitution, Government of India grants eleven fundamental rights to its citizen and ‘Right to Education’ is one of the oldest of all. Free and compulsory education for children between 6 to 14 age group is provided as a fundamental right by the country’s constitution.
Primary Education in the country is provided by numerous public and private bodies, which are controlled and funded by central, state and local governing bodies. However, over the years, India had progressed and expanded its education module for a greater good. Improvement in the country’s educational framework is because of its persistent economic development.
At primary and secondary level, India has the largest pool of private school when compared with the government bodies. In addition to that, the country also has the largest bandwidth of higher educational institutions. India altogether has 700 degree granting institutions aka universities and over 35,000 affiliated colleges which annually enroll over 20 million students in different niches.
Top 4 fields of study in higher education are:
- Arts – 37% enrollment
- Science – 19% enrollment
- Commerce and Management – 18% enrollment
- Engineering and Technology – 16% enrollment
Over 85% of the students get enrolled in the three year B.A., B.Com. or B.Sc. degrees and the remaining one-sixth get enroll in the engineering or technology degrees. India is the largest producer of engineers and IT professionals in the world. With such huge bandwidth of graduates, country is slowly becoming one of the biggest workforce supplier in the world.
Average population residing in India is below 25 years, making it one of the youngest nation in the world. The country today is the largest supplier of skilled and informal workforce in the world. Talking about the domestic employment, industrial boom, growth in the information technology and outsourcing, infrastructural boom and globalization have altogether resulted in the job growth within India. Today, India produces a subsequent amount of freshers jobs in different niches.
Current Hiring Trend of the Country…
India currently faces a skill shortage. Despite being the second largest producer of graduates and engineers in the world, India has less than 50% graduates who are skilled as per market demand, which, on the other hand, is increasing the demand-supply gap in the country. Increasing market demand and relatively stagnant have spiked the competition rate.
The company today focuses more on hiring freshers who can be trained or has substantial knowledge of the domain. Despite having skill shortage, hiring is quite optimistic in the country. In the second half of 2015, over 70% companies are open for new hires. Stable political and economic conditions have resulted in the job boom in the nation.
- Over 70% fresher job positions are created for the entry level positions, which means, there is considerable increase in the creation of new jobs and diverse skill requirement.
- Around 66% positions have been created due to growth hiring.
- Over 40% job openings are going to be in the middle and senior positions.
- Over 51% companies are increasing their hiring requirements.
With the huge number of freshers job, today, India has become one of the largest employer of untrained or inexperienced workforce in the world.
Quick Facts (Source: NASSCOM)
- India has world’s largest employable graduates, approximately 36-37%.
- India produces over 5.5 million graduates annually.
- The country has over 45% of the total workforce of global MNCs.
- There are approximately 11-12% domain specialist in the country.
- India also employs over 170,000 foreign nationals.
- India has the second largest English speaking population in the world.
- Working population in the country is expected to grow by 50% by 2020.
Highly Demanded Graduate Degrees…
Top 10 Bachelor’s degrees in demand are:
- Computer Science
- Mechanical Engineering
- Business Administration or Management
- Electrical Engineering
- Information Sciences and Systems
- Logistics or Supply Chain
- Management in Information systems
Highly Demanded Masters Degrees…
Top 10 management degrees in demand are:
2. Computer Science
4. Masters of Business Administration
5. Mechanical Engineering
6. Electrical Engineering
7. Computer Engineering
8. Information Sciences and Systems
9. Logistics and Supply Chain
10. Human Resource
Highly Demanded Doctorate Degrees…
Top 10 doctorate degrees in demand are:
- Chemical Engineering
- Electrical Engineering
- Computer Engineering
- Mechanical Engineering
- Materials Engineering or Science
- Computer Science
- Aerospace or Aeronautical Engineering
City Wise Average Salary In India
Top Employing Sectors for Fresher…
Top employing sectors, especially for freshers in India are:
- Information Technology
- Oil & Gas Sector
- Media and Entertainment
Employability Skills that Employers are Looking For…
Apart from domain skills, employers are keenly looking for soft skills and market knowledge before hiring a candidate. Here are few soft skills that employers are looking for, in the current employment market:
- Strong self-belief
- Problem solving skills
- Sound Communication
- Teamwork and Collaboration
- Passion for excellence
- Innovation or Creativity
- Ability to Work Independently
A Word of Advice…
Now, when you know all about employability, education and highest demanded career choices in India, it’s time to overlook the basics required to initiate your job search in the country.
1. Resume and Cover Letter
Resume play an important role in the entire job search. Resumes are your very first mode of communication with a potential employer. And how can one forget “First Impression is the Last Impression”. If your resume is not able to convey a recruiter, why s/he should hire you then the chances of getting shortlisted declines automatically. Every fresher must focus upon highlighting their skills, acknowledgements and area of expertise.
A cover letter plays an important role in answering ‘Why a company should hire you’. Make sure to write how you can help a company solve their problems and how you are the best fit for the given job position.
2. Skill Development
As mentioned above, India has skill shortage. In a country where less than 50% graduates are skilled according to market need, one need to focus on skill development. Don’t waste time while job hunting, use it to enhance your skills. Focus on the market skills, soft skills and then the domain skills.
3. Social Presence
We all know the importance of good virtual presence. Gone are the days when social media were the medium of personal communication, today social channels are used by companies/recruiters to fulfill their need of a skilled workforce. Building a reputable social presence can help you with the job search process in all means. Create your profile on Twitter, Facebook, and LinkedIn and stay updated with your niche.
The 21st century is all about networking. If you are able to network with the right set of people personally and professionally, it increases your credibility in the market and hence, increases your chances of getting hired by industry giants. Networking in an online and offline space is equally important. These networks could be used during the job hunt. Use them to get a job referral and don’t forget to maintain these networks.
5. Using Smart Technology for Easier Job Hunt
We cannot imagine our lives without technology. Incorporation of technology in daily life and professional environment has made our task quite easier. Use these smart technologies for searching a job in the relevant niche. Effective usage of internet, virtual space and gadgets such as laptops, tablets or smartphone could fasten your entire job search process. Post your resume on various job portals and stay connected with social/job channels with these help of these smart devices. Apply for a job and update your profile from any corner of the world. Get connected with an employer with the help of these smart technologies.
Happy Job Hunting!