Introduction
With the digital dynamic taking a quantum leap, the workforce experienced a skill gap in the technical and non-technical spheres. Prominent Government Skilling Bodies like the National Skill Development Corporation of India (NSDC) and Industrial Enterprises have collaborated with Higher EdTech Platforms to overcome the skill gap. The top-five in-demand skills in both spheres are enlisted below.
Data Professionals
Contemporary business organizations rely on data assimilation to enhance YoY profitability and growth. Data Professionals involved in the sphere of Data Analysts, Data Scientists, and Data Architects are the most in-demand professions in the Indian sub-continent. According to the Bureau of Labor Statistics, jobs in spheres of Data Processes are expected to escalate by 38% annually by 2026. The market is expected to grow to $322.9 Billion. The average pay scale for a Data Professional in India amounts to ₹5.3 lacs per annum. Getting into Data Profession is ideal for those who want to make a career switch from the non-tech field to the tech field.
Software Testing Professionals
Applications help end-users to simplify and manage routine tasks. Each application undergoes tests to ensure seamless performance before it goes live. With over six million (and counting) Software Developers in India, there is a growing demand for Software Testing Professionals to keep from unwanted software bloopers. Software Testing Professionals have a critical role in ensuring that the application runs smoothly and is free of bugs and runtime errors. The profession is lucrative as Software testing happens on a regular basis. The Software Testing market is valued at $40 billion in 2021 and is expected to grow at over 12% CAGR between 2023 and 2030. In India, the national average pay of a Software Testing Professional amounts to ₹4.2 lacs per annum. The pay scale also depends on the expertise and skill possessed by the professional.
Cybersecurity
In May 2021, Air India faced a cyber breach forcing the organization to take severe action and beef up its cybersecurity. Cybersecurity ensures that data breaches are minimized and business processes are functioning seamlessly. Cybersecurity Professionals are much in demand and expected to grow in the coming years. The current market size of Cyber Security Professionals is valued at $10.2 Trillion. The market is expected to display a YoY growth of over 15% or more. Cybersecurity professionals can enjoy a very lucrative career growth path.
Digital Marketing
With over 3.5 million smartphone users, enterprises believe that the digital marketing profession has demonstrated promising growth and will continue to do so in the coming years. According to Expert Marketing Research, the Digital Marketing segment vaulted at $353 Billion in 2021. The market is demonstrating a YoY growth of 17.6% and expected to notch up to $930 Billion by 2026. The career growth path of a Digital Marketer is varied. The growth of the segment also depends on the inventiveness of the Professional and their ability to steer markets profitably.
Investment Banking
The Indian government has given several grants for startups to establish themselves as they play an imperative role in fuelling India’s economic growth. The contemporary business environment has propelled the growth of Investment Banking. Investment banking as a segment stages a. 15-20% YoY growth. This means there is a growing demand for professionals with keen business acumen who understand the nuances of trade and transactions to aid in fitting wealth allocation. The national average salary of an investment banker amounts to ₹5.8 lacs per annum.
Professionals are expected to synergize their domain skills with the requisite soft skill to mobilize their career path progressively. It is also essential to realize that professionals require to skill themselves in order to update their knowledge and align themselves with the workforce requirements and expectations.
(The author is Mr. Girish Singhania, CEO, EduBridge and the views expressed in this article are his own)
