With all that’s been going on at the moment and how precarious the job market is, you may be wondering how to secure your future and move up the corporate ladder. Well, things may look a little glum with the unemployment rate rising to 7.78% in February, the highest since October 2019. The important thing to remember is that following the herd will not lead you anywhere. The herd mentality is poisonous to success. With colleges churning out graduates by the thousands, the actual employability of those graduates is a concern. According to a survey conducted for the Salary Study 2020, we found out that only 46% of the students were found to be employable. Clearly, classroom training without real-world exposure isn’t worth much. With salary hikes in 2020 not expected to ring any celebration bells, it sure doesn’t look very promising. With such grim statistics staring us in the face it’s easy to block our minds to the very real opportunities out there.
History has always seen some domains hold more importance than the rest at various points in time. Our job is to figure out the jobs that have the most scope and build our future around it. The best and easiest way to do that is to upskill and work in fast-growing domains. With stiff competition, getting noticed is the key to success.
Technology has driven innovation and we are more dependent on it than ever before. India has welcomed technology with open arms and with initiatives like ‘Digital India’, it will only encourage the integration of technology in all spheres of life. India had over 480 million Internet users in 2018 and the number is consistently increasing. With so much data being generated, organizations are slowly recognizing the importance of drawing insights from the data and using it to their advantage. How do you think Amazon or Myntra recommends items that are similar to your past shopping sprees? This is all done by analyzing the data collected from the customers over a period of time.
Because of the growing importance of data, the demand for data analysts is at an all-time high. There are expected to be 1.5 lakh new job openings for Data Science professionals in 2020. Salary Study says that Analytics is one of the hottest domains with 97,000 unfilled openings in 2019 and the median salary of analytics practitioners is at 14.4 lakhs.
They draw the highest salaries of all IT professionals. The growth of a domain is evidenced by the salaries the professionals earn and Analytics is a burgeoning field.
Emerging technologies like Cybersecurity, Cloud Computing, Artificial Intelligence (AI), etc are also experiencing a dearth of qualified professionals. These are fast-growing industries and there will be an increase in the number of job openings. The best way to stand out from your peers is to add to your skillset. In today’s world, more emphasis is placed on skills and experience.
As mentioned earlier, herd mentality is to be disposed off if one wishes to progress in their career. Analyzing the facts and drawing conclusions by oneself is the only way to make the right decisions. The Analytics India Salary Study 2020 by Analytics India Magazine & Jigsaw Academy was prepared with the intention of guiding people intent on progressing in their career. This comprehensive guide on the current state of the Analytics and Data Science domains with an emphasis on salary trends will give you all the information needed to make an informed decision on the best career course. Do your research and make decisions based on numbers and not hearsay.