With the economy in flux and the job market intensely bleak, young professionals should understand current and future recruitment trends and train for jobs that provide stability and flexibility.
At just 14, Michael Gonsalves is getting anxious about his future. While his parents are pressuring him to pursue engineering from the esteemed Indian Institutes of Technology (IITs) to “settle well in life” and be chased by the best of companies, Michael wishes to pursue his passion for music. However, he realizes that neither of his parents will ever allow him to become a musician, nor will he be earning enough to live well.
Michael is not alone. Like him, there are millions of students across India who, at a very young age, are stressed about their careers. With the competition so fierce, there is really a lot of pressure to start taking engineering or medical coaching from a really young age. Only the ones who crack the competitive exams with the best of ranks can get into the college of their dreams. Despite modernizing in many respects, India is still conservative when it comes to career choices. Most parents still believe that their children will only be able to earn well after doing a degree in engineering, medicine, or management studies.
But is it true? Are doctors, engineers and IT professionals still the best paid professionals? What jobs are most in demand now? Why are people of smaller cities more prone to government jobs? Why an engineering degree from an IIT and an MBA degree from one of the IIMs is still considered the dream combo? To find the answers, let us consider the current job market in India and examine the highest paid jobs as well as the jobs that will be most in demand in 2021:
Top paying jobs in India in 2021
If money is the strongest motivator for selecting a career option, then you can pursue any of these:
- Blockchain Developer
- Machine Learning Experts
- Data Scientists
- Doctors/ Surgeons
- Chartered Accountants
- App Developers
- Software Engineers
- Artificial Intelligence Professionals
- Commercial Pilots
- Investment bankers
Most of these career options are specialized in nature and require years of training. While a mid-lever doctor or surgeon can earn anywhere around 24 lakh per annum, a senior data scientist can demand anything above Rs 25 lakhs per annum. As per a blog in Great Learning, the supply-demand gap for artificial intelligence professionals is extremely high in India. Even now there are 2500 vacant AI positions that require skilled professionals, with the numbers poised to grow. Hence, if you are interested in pursuing a career in AI, you can easily demand anything around Rs 26 lakh per annum.
Watch : Artificial Intelligence & the Future – Rise of AI (Elon Musk, Bill Gates, Sundar Pichai)
10 jobs that will be in demand in 2021
2020 has been a terrible year for the job market. COVID-19 has had a profound impact on the jobs market across the globe with the economic crisis forcing corporates to cut jobs and slow hiring in most areas.
CNBC recently quoted a study by LinkedIn on the most in demand roles by analyzing job postings data on its platform across the globe. Here are the 10 most in demand jobs. And the best thing about them is that they don’t require any formal degree.
Josh Graff, UK country manager at LinkedIn, told CNBC that he always thought college played a crucial role in one’s career. However, if we see the jobs in this list, we see that they don’t necessitate formal education. You can develop the skills that you need online.
While a Government Job is always good, for youngsters, defence is one sector where there is a huge vacuum, and needs youngsters to look at it. In coming years, while government jobs will be an attraction, at the same time, in the private sector, healthcare, academia and manufacturing will need a lot of resources, since the government’s focus is in enhancing these sectors.Gurinderpal Singh, Co-founder, Talent21
10 most in-demand jobs that don’t need a degree
- Software Developer
- IT Administrator
- Sales Representative
- Project Manager
- Data Analyst
- Customer Service Specialist
- Digital Marketer
- Financial Analyst
- Graphic Designer
- IT Support/Help Desk
The Indian job market looks grim, with only 5% of companies planning to hire in the next few months, as per a report in The Economic Times. Sectors that will dominate the job market would be mining and construction, finance, insurance, and real estate.
Year 2021 is going to be all about specialization. The industry is witnessing a spike in demand for software developers for both front and backend.Brijesh Kumar, HR Head, Gramfactory
Watch: Top 10 IT Jobs Every Company will be Hiring for in 2020
Young India crazy about ‘Sarkari Naukri’
Previously, the preference for government jobs was only high among college-educated rural youth. However, the job stability, an increase in salaries and the pension have made even youth in big cities opt for government jobs. The share of youth in big cities who prefer a government job has witnessed a huge rise between 2007 and 2016. This could be driven by job stability as well as the declining income differential between the private and public sector, especially in entry-level jobs, says a LiveMint report.
Tech jobs, and government jobs may be appealing options for the emerging generation. In a post-COVID environment, a resurgent economy might even provide a viable path for those pursuing a career in music.