2020-07-10 Comments : 0
Which are those professions that get recruited the most? What career would give me best progress?
Jobseekers need to make sure they are the chosen jobs, and the jobs are of their choice, in return.
The choice for a career isn't an easy one. Do you weigh a high paying job in comparison to one that offers exciting challenges and expands your horizons?
How about a job that has lots of travel and excitement, but no means of a steady income? Today's youth has far more opportunities available to them, compared to their seniors a decade or two earlier.
Thanks to accelerated globalization, jobs that were earlier deemed as too risky or not reliable enough (like say photographer, sound technician, data scientist) are sought after now, and the youth isn't as worried about just job security as about gaining a rewarding experience and expanding their skills.
Practically, seeking employment in companies that have always performed well and are a recognized brand name is always a sound move, but the interest in start-ups and the increase in recruitment in this sector have seen a sharp rise, that is bound to create newer and newer jobs for all.
Jobseekers must remember that salaries across all industries are the product of the sector's benchmark, the employee's own experiences, training and knowledge. A high score on this criteria leads to a better salary.
When looking for the best jobs in India, there are many factors should be guiding the jobseekers, not just the salary package.
What makes a career or a job attractive?
Career growth, Job security and Reputation.
Jobseekers also make the mistake of comparing different salaries across different sectors, which is unfair. One cannot compare an IAS to a CA or a doctor or an engineer. Each of these sectors have their own place in the society.
prathigna.com brings you the list of careers that make the most sense both financially and professionally.
Top career Options in India for 2020:
1. INFORMATION TECHNOLOGY
The IT sector has been India's great calling card in the global scene for more than three decades now and shows no sign of slowing down. This sector has contributed considerably to changing India's image from a slow developing economy to a big presence as a global player, a worthy proponent of world class technology solutions. According to the IBEF (India Brand Equity Foundation) report, the Indian IT sector is set to witness earnings reaching at least $225 billion by 2020.
Industry experts and NASSCOM expect the Indian IT workforce to touch 30 million in recruitment by 2020, becoming the highest sector employer. This coupled with steady increase in salary trends that already offers a high base entry salary will remain the number one career option for several jobseekers. Not to be left behind, the outsourcing industry too still relies on India and is expected to reach the $2.5 billion mark in the upcoming 24 months.
2. TELECOM INDUSTRY
With the massive number of subscribers and users across this very large population, India's telecom trajectory is only seeing an upward trend. It is the world's second largest market with a base of over 1.21 billion users. According to a report by Zinnov, a smart phone penetration of over 15 percent reliably fuels the growth of enterprise mobility in India, leading to significant recruitment opportunities for youth and jobseekers across the country.
The Telecom Regulatory Authority of India (TRAI) had reported a 10-fold increase in broadband subscribers to 615 million in 2019. Outsourcing revenues from the telecom sector, have resulted in a growth of 45.74 per cent in CAGR during FY06-FY19 netting a revenue of $8.93 BILLION in FY2019. With all fairness, India is set to overtake all developed nations in terms of users, reach, and smartphone penetration. This means more jobs, more innovation and constant use of these services.
3. HEALTHCARE
It has become more and more clear that the healthcare sector is the biggest sector that stimulates economic growth and contributes to ever increasing rise in employment.
The IBEF reports that the healthcare market is set to reach $372 billion by 2022, as a result of increased incomes, greater health awareness, rise in lifestyle diseases and increased access to insurance.
Nearly 40 million new jobs are expected to be generated by 2020, as reported in the 'India's New Opportunities-2020' by the All India Management Association, in addition with Boston Consulting Group and the Confederation of Indian Industries (CII). The Indian healthcare industry also has advantages over other developing countries, due to which it has become a global hub for medical tourism. The low costs and easy access to facilities & medical treatment and educational services in India make it a very viable option, and are at a fraction of the cost in developed countries.
While our research and development may lag in molecular fields and drug patents, an increasing disposable income has shown the potential of a strong domestic market in India. This should result in significant employment generation across various functions such as sales, marketing, HR, IT and operations, within the medical industry.
4. INFRASTRUCTURE
Over the past couple of decades, India has seen an exponential growth in the infrastructure industry. Currently the infrastructure industry is one of the cornerstones of our Indian economy, the reason why we are the fourth largest and the second-fastest growing economy overall. The infrastructure industry in India is highly fragmented (it currently consists of roads and highways, railways, aviation, shipping, energy, power or oil & gas) and hence difficult to gauge its exact logistics and the jobs it generates each year in quantifiable terms, but it generates a very large amount of jobs.
Due to intensive government initiatives in which India plans to spend US$ 1.4 trillion on infrastructure in the next five years. With the next few years set to witness significant interest from international investors, this sector should grow at a CAGR of 10.5 per cent annually and is expected to reach US$ 215 billion in 2020, creating the need for many jobs.
5. RETAIL
Currently India ranks as the world's fifth largest global destination in the retail space. Overall, the Retail industry is expected to cross the $1.7 trillion mark by 2020 from the $795 billion in 2017. With the boom in the e-commerce market shows great progress, with experts expecting to grow at a CAGR of 30% for gross merchandise value to be worth $ 200 billion by 2026.
India was ranked No. 2 on the Global Retail Development Index (GRDI) in 2019. Retail is India's largest industry, currently accounting for over 10% of the nation's GDP and 8% of total employment.
Factors that are set to impact the industry largely are direct foreign investment, more organised logistics, and industry leaders predict that the next phase of growth will emerge from rural markets, in addition to production cost details including materials, labour, duties and mark-up expenses.
With great improvements in Product quality, transparency & sustainability, more usage of Mobile payment solutions and technology makes this a very interesting sector for both jobseekers and investors.
With the recent policy changes allow 100% FDI (foreign direct investment) under the automatic route for single-brand retail trading, the workforce is set to expand phenomenally, creating more jobs.
As is evident, there is no dearth of opportunities for jobseekers to find the best career options for themselves.
At prathigna.com, we make it easy for you to search your desired job according to location, job title and skill set. Learn more here.
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