Home
Blog
General
Best Career Options After Graduation – Booming in 2024

Best Career Options After Graduation – Booming in 2024

Updated on 18 March, 2024

29.07K+ views

• 19 min read

Table of Contents

1) Financial Planning & Analysis
2) Product Management
3) Biotechnology
4) Computer Information Systems Management
5) Digital Marketing
6) UX Designer
7) Software QA Engineering
8) Data Science

India has an unemployment rate of 7.2% and given the current circumstances; we can all agree to the highly cut-throat competitive that has become essential for all career options after graduation in 2023. The rapidly changing society, lifestyle, and technology have impacted employment in the nation. While the millennials these days possess a wide array of skills and potential techniques that weren’t present a few decades back, the Indian job market hasn’t started well in 2018 and would continue to remain tight for the next times according to the Bureau of Labor Statistics.

Learners receive an average Salary hike of 58% with the highest being up to 400%.

In such times, coming across a well-paying, relevant and enjoyable job at the same time has become not only frustrating but also chaotic. We are surrounded by automation in everything and every day it is growing stronger; it is quite natural to feel the building panic to build a stable career in these terms. Many a time you may find yourself in a dilemma of searching answers to the questions: Is my field of a career going to stay relevant shortly? Am I staying ahead of the current trends in the current job setting?

While we would love to deliver you with a definitive response to your questions, we are also aware of something that you ought to remember throughout: Change is the only constant. To emerge as a winner and stay ahead of all the recent trends in the market, here are some of the best career options to sought after in 2019 that can help you take leaps by engaging in part-time/online projects prior settling down for your dream organization:

Before selecting the best career after graduation, you must ensure it resonates with your passion and interest. Else, it will prove to be a wrong decision. Let’s get started with the details of the best career options after graduation.

1) Financial Planning & Analysis

The Indian market is currently brimming with multiple financial products and services, right from loans to government schemes to help individuals to various funds. For the consumers to choose products and services best for themselves can be like a double-edged sword which needs the intervention and counsel of competent financial advisors.

With 81.7 million of active investors in the nation currently, the ordinary people are getting interested and involved in financial planning. This leads to a rise in the growth for CFP (Certified Financial Planner) professionals to assist them in wealth management, financial planning, asset management, etc. But, currently, there are only 1150 CFPCM certified professionals in the nation to serve a large population of 1.2 billion and more.

According to the trend predictions by eminent economists, India is soon going to be recognized as being one of the three most significant economies in the world in the next 20 years. This into the growing per capita income for the next two decades and would witness a constant need for highly skilled money managers making it one of the best career options after graduation with a scope of enormous growth potential in the coming times.

Financial Planning and Analysis can be the best career after graduation for those interested in finance. Financial planning is one of the vital requirements of any individual or company. Several individuals and organisations are willing to help when the matter comes to financial planning. So, the career scope in this field is bright.

This career option imparts you how to manage a budget and derive financial solutions. You can work for a company or a government organisation. Usually, the salary of a financial planner varies from INR 3 lakh to 12 lakh per annum. Pursuing this career can bring up the best job after graduation for students willing to excel in finance.

Qualification: Commerce Graduates, BCom / MCom / Postgraduates, MBA Finance, Chartered Accountant
Type of Jobs: Audit Manager, Credit Analyst, Investment Manager Insurance, Treasury Manager
Top Employers: Banks, Financial Institutions, FinTech
Avg. Salary Range: Ranging from 3 lacs to 12 lacs (Graduates / MBA / CA) as per the highest qualification.

2) Product Management

Product managers mark as one of the 5 best career options in 2019 according to Glassdoor depending upon the hiring with more than 11,000 active job opportunities available across the world.

Not only this field of work is high paying but also with ample space for growth and development, thanks to the modern high-end technologies of Agile, Machine Learning and more. Unlike other job profiles, this position is a bit tricky as it requires the individual to take ownership of his work and be the ‘mini CEOs’ of the brand without being reported or getting acknowledged enough on the overall. Such brand men are responsible for the brand – from its sales, marketing to client relationships.

Because of such multi-dimensional scope of work for these individuals, the position of a product manager may be prone to subjectivity from one organization to another. Here are some of the core qualities and skills that you’d require to be a kickass product manager all along like Strategic thinking, Business mindset, Clear communication, Collaboration, Listening, Strong project management, UX background, Technical proficiency. And the best part of such a unique job profile is you can easily undergo a transition from other career paths into this at ease, especially if you have a knack for keeping up with the all-round development that takes place around a brand.

The increase in the number of tech companies leads to the increasing demand for software engineers, including those engineers proficient at software quality assurance. Each company uniquely works with quality control. For example, some companies have an independent QA team, others include one or two software QA engineers, and some companies include QA personnel in each development team. So, it can be said that there is a growing need for software QA engineers and therefore, it is one of the demanding career opportunities after graduation.

The software QA engineer job role involves a workload of 40-45 hours/week. Occasionally, they are required to extend their working hours to complete a project within the deadline. The hard work it demands suggests that it is one of the unique career options after graduation. Also, the hard work is justified by outstanding salaries.

They are responsible for handling both technical and non-technical tasks. The technical responsibilities include preparing test cases, coding, testing, analysing codes’ efficiency, and collecting requirements. The non-technical responsibilities include supervising the staff, coordinating with team members, and authenticating the software products’ deployment at the final stage.

It may seem to be one of the challenging career options after graduation. The reason is that software QA engineers must possess sharp analytical skills. These skills help them to evaluate the strengths and weaknesses of problems’ approaches, conclusions, and alternative solutions. Furthermore, in certain cases, they need to manage their staff in addition to supervising the codes. They must work calmly and confidently in such situations to ensure precise results.

Qualification: Graduates, Engineering Students
Type of Jobs: Product Manager
Top Employers: Information Technology, Telecom
Avg. Salary Range: Ranging from 3 lacs to 10 lacs (Engineers / B.Tech) as per the highest qualification.

3) Biotechnology

According to the recent reports by the Beyond Borders, the biotechnology industry has reached the profitability of $3.9 billion of net income in 2009 – the first time in history. While there has been more than many instances of heated debates of the industry’s inability to generate significant profits from itself, the fact that biotechnology is more critical than ever can’t be denied.

In current times, there has been a remarkable growth in the availability of several biotechnological products which can be life-saving now and unfeasible a few years back. The experts say that despite its flaws, the biotechnology industry will flourish as its products attract many willing financial markets which remain loyal to the industry since its inception. And as more biotechnology organizations mature, this industry would experience booming in its overall efficiency and profitability.

The biotechnology industry presents immense career opportunities. It is one of the best career options after graduation for biology experts. The biotech fresher graduates can apply for a job in these sectors and can gradually earn very well. Few of the leading recruiters in this field are pharmaceutical and chemical industries, cosmetic industries, bioprocessing industries, companies involved in manufacturing and developing agricultural and biological products, healthcare products manufacturing companies, etc. All these recruiters can guarantee the best jobs after graduation in India.

In biotechnology, you can be assured of the best job after graduation if you can set up your company to manufacture different drugs, RNA Therapies development, etc. So, being an entrepreneur can also embark on a bright career in this field.

In India, Biotech developments are supervised by the Department of Biotechnology which works under the Ministry of Science and Technology control. Since vacancies for different relevant job roles are always there, you can expect the best jobs after graduation in biotechnology. You can work in public health care centres too. Moreover, if you are ambitious to progress in the research field, you can work in a research institution dealing with biotechnology. Working for R&D is one of the best career opportunities after graduation in biotechnology for those aiming to pursue a PhD or M.Sc.

Qualification: B.Pharma, Medical, BAMS, BHMS
Type of Jobs: Medical Officer, Radiologist, Medical Reps
Top Employers: Pharma, Research & Development, Medical Institutions
Avg. Salary Range: Ranging from 6 lacs to 20 lacs (MBBS / B.Pharma / BDS) as per the highest qualification.

4) Computer Information Systems Management

If you have an epiphany about your career, then maybe it’s time for you to attain a science bachelor’s degree and work your way up to become a CIS manager. With about 5 years of experience, these professionals are known to be the rightful leaders in the organization with a considerable pay scale, and the current trends say that there will be a rapid growth of over 15 percent in the next 10 years creating more than 50,900 jobs by 2022.

If you belong from a science background, then a Computer Information specialist job role can offer the best jobs after graduation. The dependency on computers is escalating in all industries. Therefore, decent job opportunities are guaranteed in this field. Computer Information System Management career option offers thousands of best jobs after graduation in India. Thus, it can be your best career option.

Qualification: Computer Engineers / Electronics & Telecom Engineers / BE / Btech.
Type of Jobs: System Engineer / System Analyst
Top Employers: IT Companies like – Deloitte, IBM, Accenture
Avg. Salary Range: Ranging from 3 lacs to 12 lacs as per the highest qualification.

5) Digital Marketing

In recent times, the world grows more and more digital with each passing moment and presents an enormous amount of work opportunities for people in the same industry. The digital economy keeps on rising to 10 times faster than that of the traditional economy and firms which get involved in the online trading are twice likely to be creating jobs than those that aren’t. While digital marketing continues to remain the buzzword even now, it has led to kickstarting the industry leaders come up with more qualitative work while small startups prove their worth by doing it smartly and budget friendly without compromising on the quality.

By 2022, more than 20 Lacs of people would be employed under the industry of digital marketing, and as it is a growing field, new opportunities and scope come and go, respectively. Since the skillset for carrying out digital marketing field of work requires a cluster of several skills, all different from another working together for the frequent target – the skillset is rare to find in an individual.

When the demand exceeds the supply, there’s a rise in the price. Companies, big or small, are willing to pay handsomely to such experienced, creative and certified professionals after a careful screening of skills on various projects.

Anything linked with social media is regarded as one of the excellent career options nowadays. The digital marketing career after graduation offers not only decent employment opportunities but also imparts advanced knowledge of recent technologies. It is a suitable career choice for people willing to explore something related to the web.

There is no need for career guidance after graduation if you want to progress in digital marketing. The reason is this field ensures great career opportunities for deserving candidates. The right marketing strategies can benefit their organisation with business success. The digital marketing freshers are initially assigned with marketing tasks wherein they can demonstrate their creativity. You can explore outstanding job roles, including Google ads expert, content maker, SEO and SEM specialist, marketing manager, etc.

Qualification: Graduates / Postgraduates / Management Professionals
Type of Jobs: Digital Marketing Manager / Performance Marketers / PPC Executive
Top Employers: Internet Companies, Agencies,
Avg. Salary Range: Ranging from 4 to 9 lacs depending on knowledge & qualification.

Considering your next steps after B.Com? Explore the variety of career options after BCom to navigate your future with confidence.

6) UX Designer

According to Indeed, this is one of the most popular job postings in 2019 in the USA with more importance on specialists in the field. With several businesses and organizations embracing the digital revolution, the need for valuable Graphic Designers shall keep on rising.

The UX experts are not only just the contributors but also are collaborators and discoverers on the global scale to the company’s brands and services. Therefore, there shall be a significant rise in the relevance of the digital design and UI/UX on the overall if you’re looking for a lucrative and exciting career path.

If you are ambitious in research, visual design, analytical thinking, human-computer interaction psychology, and fundamental knowledge of technical skills related to web/mobile design, then a UI/UX design is an appropriate career after graduation.

Generally, UI designers are accountable for designing the interfaces through certain tools. On the other hand, UX designers are accountable for performing research and pointing out the methods to tackle the user’s difficulties when interacting with the interface.

UX designers research their target users. The purpose is to understand their requirements and expectations of the product. Moreover, they formulate the blueprint (wireframe) on which the original design is built. UI designers add proper visual details to the blueprint to make the products come alive. The same entails defining the colour palette, types of icons/buttons/boxes/fonts, notifications, etc. They tweak their design until the final product precisely meets the company’s and users’ requirements.

It is better to get career guidance after graduation if you are confused about whether to move on with the UX designer career option or not. You must be proficient in design software like Adobe Photoshop, InDesign, Corel Draw, etc. Your work experience and skills in these tools are proportional to your career advancement. Furthermore, the additional knowledge of web programming languages like HTML, CSS, XML, and Java will be helpful.

Qualification: Graduates / Engineers
Type of Jobs: UI / UX Designer
Top Employers: IT-Software / Internet / E-commerce Companies
Avg. Salary Range: Ranging from 3 lacs to 9 lacs as per the highest qualification.

7) Software QA Engineering

To deliver high-end software products, the testing is required at the product’s development, release and acceptance stages. The scope of software testing is increasing according to market demand and also due to the latest revolutions in the IT sector.

Additionally, because of the existence of Big data, IOT, AI or cloud has made the software testing more meaningful and essential. But, the testing industry has now become too much competitive and evolved new paradigms at the same time. In the last decade, the profile of software tester has undergone a real transition, and the testing has become a show stopper for several product implementations. Businesses have realized the importance of the structured examination of applications before the release, and it pays well to the testers from one organization to another.

Qualification: Graduates / Engineers / Diploma Holders
Type of Jobs: QA Test Engineer, Testing & Implementation Engineer
Top Employers: IT-Software / Software Services
Avg. Salary Range: Ranging from 3 lacs to 8 lacs as per the highest qualification.

8) Data Science

Image Credits: Indeed.com

One of the most in-demand jobs and is projected to grow over 15% in the coming years, that translates to nearly 364,000 new job postings by 2022. The fastest growing roles are Data scientists and advanced analysts that are projected to see the demands grow by 28%.

Qualification: Graduates, Postgraduates, Engineers
Type of Jobs: Audit Manager, Credit Analyst, Investment Manager Insurance, Treasury Manager
Top Employers: Banks, Financial Institutions, FinTech
Avg. Salary Range: Ranging from 3 lacs to 12 lacs (Graduates / MBA / CA) as per the highest qualification.

Upon choosing data science as a career option has a lot of scopes and would remain so shortly. The workforce requirements have changed from a new breed of professionals skilled in data, analytics, machine learning, and workforce development. In today’s times, data science jobs are known as hybrid jobs which require deep expertise in multiple functional roles and skills like SQL, Big Data, Predictive modeling, Statistics, Mathematics, Machine Learning, R & Python programming along with hands-on experience in marketing, product management, and marketing strategy.

Data scientists need to analyse massive amounts of complex raw data and process information to determine patterns that can facilitate strategic business decisions. It is one of the demanding career options after graduation because it comes with exciting and well-paying job roles. Expert data scientists can efficiently use machines that can simulate human intelligence and improve business efficiency.

Machine Learning is the AI’s practical application that imparts computers to learn from the data and make the system more intelligent. Many businesses are beginning by implementing Machine Learning to improve their products. From demand and salary perspectives, it is one of the unique career options after graduation.

Frequently Asked Questions (FAQs)

1. Why is change necessary in learning?

Learning involves changes in knowledge, perspective, understandings, values, and meanings. Learning is not something to be done in a vacuum. The experiences of the past and the scope of the future determine how we learn and what we learn. As the saying goes, The only constant in the world is change. To sustain and keep pace with these changes, learning is indispensable. Savvying about the changes and their repercussions helps us to shape our learning. To not become anachronistic and also to be revered, it is necessary to change with the world and make learning and relearning a part of it.

2. Is there a right time or age to choose a career?

Deciding a career is a cathartic phase in life. Not necessarily faced only once in life, as many people switch jobs and careers if they do not find one gratifying. By and large, it is said that decisions regarding a career should be taken by senior secondary. Money plays a vital role in deciding on a career for many. Taking up a job for money with the thought of quitting later for passion is a task easier said than done. Planning further studies or a job without a concrete target is frivolous. Therefore, choosing the right career at the right time is necessary.

3. What factors affect a person's learning?

The brain size of every person is not alike, and neither is its learning capacity. The brain's capacity is often represented in terms of the Intelligence Quotient (IQ), but there is no such quotient for determining learning capacity. Learning capacity depends on various factors. Metacognition, the skill that people have in monitoring and controlling their memory and learning, is the most critical factor. Other external factors include comfort, lighting, colour, noise, and clutter. A comfortable environment and seating with proper lighting have a pragmatic effect on learning. Noise is a factor based on personal preference; some prefer silence, while others, some background music. Research has suggested that a cleaner and tidy study space is motivating and focus enhancing.

Did you find this article helpful?

Dilip Guru

He is a Growth Hacker, Digital Marketer & Blogger. He loves solving problems of scale and long term digital strategy.

Our Trending Courses

MBA by Liverpool Business School MBA (Master of Business Administration) Master of Business Administration (MBA)

Our Trending Skill

MBA in Finance MBA in HRM MBA in Marketing MBA in Business Analytics MBA in Operations Management MBA in International Business MBA in IT MBA in Healthcare Management MBA in General Management MBA in Agriculture MBA in Supply Chain Management MBA in Entrepreneurship MBA in Project Management

Get Free Consultation

By clicking "Submit" you Agree toupGrad's Terms & Conditions

FREE COURSES

Start Learning For Free

Introduction to Ratio Analysis

4.86K+ learners

5 hrs of learning

Learn now

How to be a Successful Business Analyst

24.59K+ learners

1 hrs of learning

Learn now

Introduction to Digital Banking

RELATED PROGRAMS

POPULAR

Birla Institute of Management Technology

Post Graduate Diploma in Management (BIMTECH)

PG Diploma
24 Months
AACSB & AICTE accredited

View Program

IMT Ghaziabad

Advanced General Management Program from IMT Ghaziabad

Certification
11 Months
Top Indian B-School

View Program

Harappa School of Leadership

Accelerated Management Program

Certification
6 Months
Leadership Development

View Program

SUGGESTED BLOGS

5.18K+

India’s Education Sector needs a new Avatar, a Contemporary Approach

This article was originally published in Economic Times. Everyone seems to be talking about disruption. Like “startup” and “funding”, “disruption” has become a part of our daily parlance and evinces a strong sentiment among entrepreneurial enthusiasts. We are seeing disruption across sectors and levels, all of which is helping us in reimagining the world around us. Education, meanwhile, is crying out for disruption but is going unheard. It is a sector that is brimming with opportunities and waiting to be tapped with an innovative approach. The Need of the Hour The question is, are our institutions and universities imparting knowledge for a world that does not exist anymore in its old avatar? And are all of us, especially our youth, becoming smarter learners? The answer for both these questions is a resounding “yes”. The Idea Called UpGrad: Why Education is Serious Business India has the largest college-age population in the world — close to a staggering 125 million — but it is startling to know that less than one in five of them is doing their post-secondary education. This means only 20% of college-age youngsters are doing their higher education as opposed to 90% in the US. Will India be able to achieve its gross domestic product (GDP) growth targets at this rate? No. Will we need to double our participation rates in higher education in the next five-ten years? Yes Can pure offline, brick-and-mortar college and university models fill this massive gap? Again, the answer is obvious. Look at the challenges. One, it takes four-eight years to set up one campus/university and at its peak it could cater to 5,000-10,000 students. Two, we need to have enough trainers and teachers to feed into these facilities, many of them in remote areas or away from cities. Three, the cumulative outlay at scale for private or public-private partnership (PPP) models to cater to the entire college-going population will be nothing short of $100 billion. Four, over half of this 125 million youngsters, I believe, will have compulsions to take up a job very early in life for socio-economic reasons and may not have the flexibility to go back to college after that. In this scenario, online education can be the big disruptor for India. Of course, there will be myriad challenges, but it offers exponential solutions: it can reach the remotest parts of India, aggregate the best faculty as everyone from the offline world can participate with much less demand on their time and lastly our youth can stay in their jobs while continuing to learn. Kushagra Saran’s Journey while Impacting Education Disruption in online education can be the answer to the gigantic challenge that India, called the youngest nation in the world, is facing. If we do not create equal opportunities and access to the best learning/upskilling/upgrading centres for our ambitious and aspiring youth, our demographic dividend can turn into a demographic debt. Skill India too has a goal to train over 400 million people by 2022 and this audacious outreach can be achieved only by radical disruptive thinking and bold execution. However, online will not succeed if it simply copies traditional teaching methodology. Online education should be more focused on professional education and post-graduation as those demographics look for flexibility and augmentation. For early years and K-12, brick-and-mortar schools will continue to play a big role in the holistic development of the child and online education will only be a supplement. Five-Year Plans For online education to be disruptive and for it to succeed, education will have to be thought through as a digitalfirst medium. Technology will have to be integrated to create a superior learning experience on the online platform. Online education has to move away from being a glorified content library; it has to involve peer-to-peer discussions, alumni chats, group studies and more. It has to shed its reputation of providing isolated, individual learning platforms and evolve into a social platform where you are not learning alone but studying together with a lot of individuals. Let’s come to terms with a few things. In the 21st century, what we learn will have less and less relevance after five years and hence there is a need for constant upgrade. Convergence of new forms of learning will be the fuel for and engine of economic growth. Universities need to develop programmes that are linked closely with employer demands. Otherwise, the results will be disastrous: while job seekers overspend on education programmes that are less likely to result in ideal employment opportunities, employers will be hiring poor fits. We need to change the mindsets of multiple stakeholders — academia, companies, students, young professionals and, most important, families — because how we learn and who we learn from have transformed. Our dependence on experts and figures of authority has diminished while our ability to learn from each other has spiralled dramatically. All I can say is, I wish I was back in college today. If you like to have one-to-one with industry experts, networking with hundreds of entrepreneurs, and bag a seed funding to start your idea, check Leadership & Management program

by Ronnie Screwvala

11 Mar'16

5.55K+

Working Professional’s Need of Staying Relevant

Online education across segments and students population is emerging as a popular option for individuals. Across age groups, online education is getting adopted. A segment where we at UpGrad feel that online adoption will be rapid, is the working professional segment. And there are multiple reasons for the same – from their ability to pay, their willingness to move up in their career etc. In this piece I want to touch upon a key trend that we are targeting – changing requirements of the industry and the need to continuously upgrade for working professionals. To give an example, a few decades ago – a farmer’s son would be a farmer; a carpenter’s son would be a carpenter. Things changed over time, and a farmer’s son started becoming an engineer. And in today’s world, an engineer goes through 5+ career shifts in his/her career span. There’ll Be A Billion-Plus Job-Seekers By 2050, So Get Yourself Skilled NOW! Marketing is not the way it used to be 10 years back. Payment is not the way it used to be 5 years back. Data analysis has undergone drastic changes. And in this digital age, the rate of this change is going to further accelerate. Industry will evolve rapidly, and as working professionals, each one of us has to keep up with this changing requirement. Industry is not going to wait for the individual to get upskilled or upgraded, and a large part of the onus will lie with the individual. Further, the rate at which the needs of the industries are changing; our current university system is not able to cope up. Therefore, individuals have to look for alternate options to add relevant skills to their portfolio. This is where online education comes into the fore. Professionals today do not have the flexibility of leaving their jobs and going to a school to learn new skills. Online education platforms are great options for these professionals who are looking to continuously upgrade, while continuing to stay in their jobs. Unlike offline education, online medium provides the advantage of being able to update the program curriculum and content regularly, and keep it relevant to the industry needs. Online medium also allows real-life problems to come to working professionals learning, where an individual can actually live the real-life situations in the form of case studies. Top 10 Essential Tools For Startup Business in India In the digital age, each individual will have to continuously upskill himself/ herself to stay relevant, and that would provide a large opportunity for edtech startups to create scale platforms. EdTech startups will have to look for opportunities where there is a significant demand supply gap, and look at providing right education programs. The biggest challenge in this will be the ability of edtech startups to design the program content for digital medium, rather than replicate what is being covered in the offline programs. Taking advantage of the digital channel will be key here. So for all edtech startups, keep your ears on the ground, and look for areas and skills that will allow you to build scale learning platform.

by Mayank Kumar

20 Apr'16

5.08K+

Google I/O 2016 – Day 1 | Recap

The most awaited Google I/O 2016 Conference was filled with announcements about improvements in current products and launch of some new products. In this article, we have summarized the biggest announcements from Day 1 of the conference. Google Allo Allo is Google’s new messaging app with resident chatbot. It has features like whisper/shout, expressive stickers, smart replies- which evolve with time and wide range of bot support especially the Google Assistant search bot. One of the most important features of Allo is that all its chats are encrypted but incognito mode offers end-to-end encryption and an option to send messages that self-destruct. Additionally, once you close a chat, the entire conversation is deleted forever. Google Duo Duo is Google’s mobile only companion app for Allo that helps in video calling. One of its special feature is ‘Knock Knock’ which lets users see the incoming video call feed before even answering the call. So, the receiving party can see who’s calling and where they are before they even pick up the call. Google Assistant Google takes search to the next level. Google Assistant supports “conversational understanding” to make search more natural and to better support voice searches. Google Home Home is built on the Chromecast standard, which lets it push media to other Cast-compatible speakers and screens, change temperature or lighting through Nest devices, and integrate with third party services. The entire experience is hands-free, powered entirely by voice. In fact, it doesn’t even have any buttons. Simple voice commands will control every aspect of the Home. Android N Android N comes with new features that include more control over notification size from different apps and a new picture-in-picture mode. Android N uses a new API called Vulkan that lets developers directly control a phone’s GPU for sharper 3D graphics. Android N will also download and install system updates automatically. The name of Android N has not yet been released. It is going to be selected through a crowdsourced contest. Google Daydream Google has a new VR platform built on top of Android N, and the new VR platform is called Google Daydream. It is an optimized virtual reality platform that aims to standardize the mobile-based VR experience. It also spans both software and hardware; Its biggest limitation is that it will be available only in new phones with special sensors and screen. Android Wear 2.0 Android Wear 2.0 can function independently of a smartphone. Apps no longer need a connected smartphone in order to function. Apps can function and even communicate without a phone, as long as the wearable device is connected to the internet via cellular or Wi-Fi. Users can also make data from any app show up on any watch face. Instant Apps One of the most interesting announcement was google Instant Apps. With Instant Apps, users can begin using an app instantly from right within the Google Play store without even having to download and install the app. As we can see, Google has made some big moves in the three hottest areas of tech – virtual reality, messaging, and smart assistants. However it would be interesting to see how these new products will compete with their competitors and how much of market share would they capture after their launch.

by Dilip Guru

19 May'16

898.96K+

There’ll Be A Billion-Plus Job-Seekers By 2050, So Get Yourself Skilled NOW

This isn’t just a catchy headline meant to shock you, though that would be a justified reaction. If you are 25 years old, have graduated from a reputed institute in a traditional higher education discipline and are looking for a job, you may not be handed one on a platter any time soon. You may be cushioned within the famous Indian demographic that is supposed to yield a “dividend”, but unlike what you’ve been reading everywhere, this does not guarantee you employment. Between 1980 to 2010, 90% of world labour force growth occurred in developing countries and about 500 million new workers emerged in India and China alone (workers went from 260 million to 470 million in India, between this period). India, along with other developing counterparts, is all set to fuel 60% of the global growth in labour in the upcoming years. Keep in mind that enrolment in Indian higher education is only 24% right now. With India attaining almost universal elementary education and increased retention in secondary schools, the projected demand for higher education and jobs thereafter, will only escalate. By 2050, India will be home to more than a billion job seekers. This means providing jobs for over 12 million new entrants annually. There is also the challenge of finding jobs for the backlog, which reached 60 million by 2014. So isn’t this good news? India finally placed on the world map with a solid advantage where labour supply is concerned. Well, it may not all be good news. The new-age job-seeker must strive to acquire specific skill sets to be considered employable. Currently, only 43% of Indian youth are considered fully employable. Indian millennials are being touted as the future of jobs and the saviours of the working world. But this won’t hold true if in-demand skills are not imparted to the youth entering the workforce. The world of work is changing and industries are transforming. It’s a fact that we are moving towards a massive labour pool, but we are possibly riding a low-skill, low-wage cycle to get there. The country is on a trajectory that involves a surplus of millions of low-skill workers, whereas most nations, including India, will be increasingly demanding a high-skill workforce. Impacting Education: My Journey and UpGrad Most industries are replacing low-skill jobs with high-skill ones. Skills relating to upcoming technologies like cloud computing, social media, artificial intelligence, robotics, nanotechnology, etc, are gaining immense relevance. Unfortunately, our education system is not preparing students well enough to enter the workforce as high-skill workers or equipping them with skills in the mentioned emerging domains. Gone are the days when just holding a graduate degree was enough to get employers to clamour to hire you. Education is not enough. The new-age job-seeker must strive to acquire specific skill sets to be considered employable. Currently, only 43% of Indian youth are considered fully employable. Gone are the days when just holding a graduate degree was enough to get employers to clamour to hire you. Education is not enough. The positive connotation associated with our demographic shift has been taken for granted and assigned the term “dividend.” But if we don’t strategically harness this change, we could very easily be faced with a demographic disaster. We don’t want to be stuck in a situation where we have too many job-seekers with inadequate skills, and therefore not enough jobs for them. India is moving workers out of farm jobs at a very fast rate, and this will only add to the burden of providing jobs in other sectors. We need a wake-up call and more concerted efforts towards large-scale skill development and training. We may have a situation of too few high-skill workers and not enough jobs for medium- or low-skill workers. This needs to be rectified by adjusting the education and skilling system to ready ourselves for the jobs of tomorrow. UpGrad develops various programs such as Digital Marketing Certification Program, and Product Management Certification Program in collaboration with IIIT Bangalore, specially designed for working professionals looking to up-skill themselves. Check out the free courses.

by Mayank Kumar

20 Jun'16

6.59K+

Only 25% Of Indian Graduates Are Employable, And The Solution Is Obvious

Co-authored by: Apoorva Shankar, Business Development Associate, UpGrad The world today has enhanced productivity requirements. Due to this, the demand for highly skilled labour is growing. China and India are set to drive this demand. Globally, the share of low-skill jobs is likely to decline from 74% of employment in 2010 to 62% by 2020. On the other hand, the shortage of highly skilled workers with a tertiary level of education is expected to reach 18 million by 2020, globally. But due to its demographic dividend, India will have a labour surplus of 47 million by 2020. However, this surplus may only be of low-skilled labour. And while the demand for highly skilled labour is increasing, the supply isn’t quite keeping up. The challenge, as well as opportunity, that India faces is how to train such a large reserve of labour and convert low skills to high skills. One solution that immediately comes to mind is providing higher education for all. But at present only 24% of those meant to be participating in higher education, are actually enrolled. Plus, traditional college or university pedagogy has been increasingly criticized for being outdated and irrelevant to the jobs market. If you attended school or college in India, you will have first-hand experience of the ills that plague the system. Some of the reasons for this are: Absence of a customized or personalized approach to education (necessary as different students have different needs and learning capabilities). Restricted resources due to not-for-profit nature of educational institutes and over-regulation. Lack of technology infrastructure. Poor teaching quality. Lack of skills-based learning. Low focus on research and development. Minimal partnerships with industry/foreign academia. Outdated curricula not reflecting requirements of a dynamic market environment. Skill-intensive industries are expected to contribute more than 90% of India’s GDP by 2030. The opportunity is staring at us in the face. Only about 25% of Indian graduates are considered employable by the organized sector. Further, 48% of Indian employers said they were having difficulty in filling jobs, in 2012. Despite employers expressing difficulty in finding employable candidates, in 2009-10 the unemployment rates in India were higher for those who were more educated (graduates had more difficulty finding jobs than secondary or primary level graduates). [b_color background=”#EDFF3D”] Also Read – Technology will surely kill some jobs, but not all of them [/b_color] So Indian education, in its current form, hasn’t proved to be enough training for the incoming workforce. The numbers also prove that just completing higher education in any field is not all it takes anymore. This pinch is being increasingly felt as the world of jobs is turning upside down; which is why we need skill training. Skill-intensive industries are expected to contribute more than 90% of India’s GDP by 2030. The opportunity is staring at us in the face. It’s not just about the potential but also the responsibility we are tasked with — restoring balance to the global supply of labour. The country needs to invest in skill development and training for a large chunk of its population. Exploiting sheer numbers is therefore one major reason to skill our workers. Secondly, the demand for advanced skill-sets in emerging areas is growing. Knowledge-intensive roles such as finance, business, etc, and those related to information technology and entrepreneurship are gaining momentum. The reality that these skills must be acquired will take root for more and more individuals, including drop-outs from the mainstream education system and those who have completed such education. Currently, the actual supply of these workers falls drastically short of matching growing demand. Hence, the gaps in domain knowledge are another reason to scale up the skilling. You are likely to be at a disadvantage, in terms of skill training and thereby employability, when compared to someone your age in China, USA, South Korea… In China about 47% of the workforce has received some kind of skill training, 52% in USA, 68% in UK, 75% in Germany, 80% in Japan and 96% in South Korea. Comparatively, only about 10% of the Indian workforce received such training in 2008. India is seventh in the category of countries facing maximum difficulty in filling jobs, i.e., 58% difficulty, where the global average is 38%. These figures reflect that just belonging to the young Indian demographic is not enough. You are likely to be at a disadvantage, in terms of skill training and thereby employability, when compared to someone your age in China, USA, South Korea etc. To address these imbalances, India needs unprecedented increase in both education and job creation. At this point, there is no guaranteed advantage for India in the contest for high-skill talent. It will be dependent on skilling. Considering the state of higher education and the skill upgrade required to be carried out in the future, the process will not just be about learning for professionals, but rather unlearning and re-learning.

by Mayank Kumar

13 Jul'16

5.2K+

7 reasons to watch UpGrad Talks today

There is really no secret sauce for success. Provided you have had the opportunity to view the exclusive online tete-e-tete sessions brought to you by UpGrad Talks. With an amazing roster of world-class speakers, some from the top 1000 companies of India such as Mahindra & Mahindra, Tata Sky, Coca Cola, JP Morgan, JWT to start-up poster children such as RedBus, Snadeal, Ola & Zivame and many more, Upgrad Talks provides insights into their formulae for success. The talks also share deep learning from situations that didn’t work out and many valuable nuggets of honest, down-to-earth and practical advice from successful entrepreneurs, experts and industry leaders. While some lip service has been paid to new-age technologies and skill sets, and the evolution of industries because of these, a deeper understanding of what this signifies is missing. Upgrad Talks intends to fill this gap by bringing together thought-leaders from different walks of life and raising the level of discourse in this area, as they share their experiences. Here are the top reasons why you must visit talks.upgrad.com today and make it your daily source of insights and motivation: Get Inspired Inspiration can come from many different sources. You may get inspired when you see a problem that needs a solution, which you are able to ideate, or get inspired when you hear stories of adversity being overcome by sheer willpower. Rarely does the simple existence of wealth inspire us. It may motivate us to work harder, but inspiration stems from a deeper place that needs real stories. Upgrad Talks are stories from the folks who have lived these stories, first hand. Not only does hearing someone’s complete story of challenges, thought process and subsequent outcome inspire, it also gives birth to new ideas and provides impetus to grow in your own space. Moreover, inspiration also stems from well-put statements such as, ‘attitude will sail you through,’ by Harit Nagpal, CEO of Tata Sky. A key benefit of listening to industry leaders is that it also inspires us to think. ‘What we think, we become,’ is a quote by Buddha that sums up this well. Go ahead, face challenges It does not matter if you are a startup or an established financial organization; challenges, big or small, exist in every level of most businesses. Challenges faced, strategized and overcome is the rite of passage for almost everyone. Not only do Upgrad Talks cover challenges faced by leading industry veterans, it also covers it from various stages of businesses along with discussion of the solutions that helped overcome them. Upgrad Talks speakers’ discuss challenges faced by businesses in different spaces, which makes these talks an interesting listen. Furthermore, is quite motivating to hear the candid conversations of business leaders. So what is the common thought on challenges in the Upgrad Talks? No challenge is too big. It also strengthens the belief that challenges help you grow and become stronger and develops a sense of confidence to take on the next big challenge. Learn from influencers People who can motivate are great influencers. To hear success stories at Upgrad Talks, which have been driven by deep-rooted passion as well as courage of conviction can be a great influence on most people. It is likely to help you push yourself to greater heights and also follow your dreams a bit more diligently. To quote Snapdeal’s Kunal Bahl, ‘ there is a fine line between stubbornness and persistence.’ Upgrad Talks is likely to help you define the lines as an excellent selection of influencers talk also about the key soft skills required to make it a significant mark on the industry that you belong to. Mentoring As you listen to entrepreneurs, business leaders and experts on models that have worked, one can also start drawing parallels to one’s one business or profession. Mentoring of this kind is both subtle and effective as it helps you choose some key takeaways from the shared experiences that are most relevant to you. Follow the series to get premium access to the best mentors in the country as they talk about education, the emerging digital age and its impact on businesses, talent shortages and advice to youngsters. A bit of crystal gazing In the series of Upgrad Talks, one is likely to come across a vast amount of business knowledge which has been converted into digestible insights that can also help you choose the next steps in your career. Speakers’ at Upgrad Talks share their business mantras and what the future is likely to be. This is crystal gazing of the finest variety and yet another reason to tune into the talks. A healthy dash of optimism One of the unique selling points of the Upgrad Talks is that they also brings out the combined optimism in business from key industry leaders. Apart from that one can learn what is next in the industry, and explore potential future opportunities in the workspace. The upbeat and positive nature of these talks makes them a must-listen. Easily available online Just in case you were wondering how far you would need to travel to listen to such a wide range of speakers, you can breath easy. Upgrad Talks are delivered online and you can listen to them at your own convenience. All you need to do is to long onto talks.upgrad.com and you can access high quality, pre-recorded sessions online. Upgrad is making content richer, bigger and better as it kicks off with 15+ talks delivered by entrepreneurs, experts & business leaders. You definitely do not want to miss out on the educational transformation that UpGrad is fuelling in partnership with some of the greatest minds. Remember, one can never stop learning. So, if you always aspired to hear great advice and insights from the top Indian business leaders on how you can grow your business, choose a career goal or get inspired, do take a look at Upgrad Talks. They are truly the voices that impact. Join us today and be a part of it at talks.upgrad.com.

by Omkar Pradhan

06 Aug'16

5.37K+

Evolving online education: Learning Together

Technologies in online learning have been making promises since early 20th century. From radio to present day MOOCs, multiple new technologies were seen as silver bullet in revolutionising education. These promises were indeed laudable, to make education accessible to everyone, affordable for everyone and more effective. Yet, the same history of unmet expectations has been repeated every time*. Although a lot has happened over the past decade in terms of growth and expansion of online education, there are many challenges yet to be solved before we can say online learning has truly arrived. We, at UpGrad, believe the following three challenges are the biggest hurdles to the success of online education. Isolation: Online learning is solitary experience Acceptability: Online learning’s validity in the Job Market Not Engaging: Interplay of distractions and motivations in learning online The dismally low completion rates and high failure rates are reflection of these challenges [1]. Our goal at UpGrad is to fight these challenges and provide an unmatched learning experience for the working professionals. We believe, with the flexibility of online learning, every working professional can “UpGrade” himself without going back to full-time formal education. Hence, we need to to make online learning mainstream. In this article we would be sharing how are setting the online learning as a ‘Social Experience’ for our students, ie the first of the three mentioned challenges. In 2000s, internet surfing was mainly an individual experience and on the other hand, in 2016 almost all of internet time is a social experience. We do not feel alone in 2016 version of internet. We believe online education will have much higher engagement and completion rates once it becomes a social experience. An average student’s e-learning journey is an individual experience making him/her feel isolated. Learners move through the course with limited interactions with both their instructor and classmates. We at UpGrad, are building a new learning platform specifically designed keeping our students and their needs in mind. We believe this would be key to provide the kind of engagement levels the students deserve. The perception of social presence (or lack of) is a big concern among students and teachers in online learning. Teachers develop courses in isolation and the students take the courses in isolation. Researchers have found strong correlation between the sense of social presence facilitated by the course and student’s perceived learning [3,4,5]. Also there is good re correlation between withdrawal in the course and student’s perceived lack of social interaction and instructor presence [3]. Lack of social interaction in e-learning increases the distraction, since a learner would look for social interaction elsewhere which is usually Twitter, Whatsapp or Facebook. If there is another learner doing the same course in my apartment building, there are limited chances that I would know about him. As learners of online courses, we are oblivious of everyone else’s presence except few replies on the discussion forum. They do form Facebook groups or Whatsapp groups organically, yet the whole online learning format ends up being mostly a solo experience. Here are the steps we are taking at UpGrad in making our online programs a social experience.: Profiles : The first step in ‘social’ e-learning is knowing your classmates. We have learner profiles with education and work history along with other details. Almost everyone is encouraged to fill in their full profile along with a descriptive ‘bio’ section. There are multiple points where learners are nudged to click on the profiles. To improve discoverability of relevant profiles we not only leverage cohort social graph but also use interest graph, performance graph, complementary skills graphs. Combined with other semi random** algorithms like who was recently online, learners bump into each other in interesting ways. In the first month of Data Analytics Program, an average engaged learner viewed peer profiles 110 times. Discussions: We have a discussion forum which is contextual and relevant to the course content. We designed it from the ground up to involve learners during the course. They help each other, solve doubts, ask questions, have healthy debates on the forum. Only when there is no consensus a Teaching Assistant gets involved in clearing the doubts. Last 3 months data shows that on a daily basis 50% of the students who are engaged on the platform, also engaged actively on the discussion forum. As most professionals have different backgrounds, sharing of experiences on the forum is much valuable to everyone in the cohort. We have seen learners fall into three buckets on the forum. First is the majority producers, the top 30% of forum content producers are responsible for around 70% of the discussions. The next 50% do the rest of 30% of the content but continue to voice their opinions through upvotes. Rest of the 20% are mere observers. These numbers are highly encouraging and we will be investing more time in finding out how student-student social interactions can help in overall engagement. Figure 1: Forum topic distribution in one of our programs. Share in the pie is (questions * votes) for each topic. Bigger share of the pie is a proxy for doubts. This lead us to start live sessions on those topics. Thought Leader AMAs: Initiating and maintaining engagement on the forum is hard. To set the ball rolling, we started the discussion forum for a new cohort with getting a thought leader to do an AMA on the platform. This way not only the students got a product onboarding experience but also the social expectation was set amongst the peers. In some months, the total content creation during AMAs ended up around 20% of the total cumulative content. We also observed a side benefit of starting the program with thought leader – that learners are more helpful, behave with more civility and show much more respect for each other. This is not very unusual because it is known that a group’s eventual social dynamics are very much impacted by behaviour in initial few days. In a way, it sets the trend which follows upto the end of the course. We also explored bringing in external motivations to see how does it impact on engagement levels. At times, there were small gifts for top forum contributors and at times we included forum participation in the grading. Our primary observations show that this is to be used cautiously. We are working on establishing a balance between extrinsic and intrinsic motivations for social involvement. Facebook Groups: For all cohorts we have Facebook groups for students apart from the platform discussion forum. We were not very confident how much our forum will be used for non academic discussions and generic social sharing. However, we found more and more discussions of generic nature and sharing of articles & blogs also started happening on the forum. Hence facebook group ended up becoming redundant. We are thinking of doing away with a cohort’s facebook group with this expanded use of discussion forum In summary, having a strong sense of community within the students is a big predictor of learning outcomes. This has been researched multiple times [7, 8]. Our platform’s usage data of course progress and social interaction activity strongly confirms this research. At a time, a learner who is socially engaged on our platform has usually completed 4 times (Figure 2) course materials than a learner who does not participate in social discussions. This high correlation has been repeated across multiple cohorts. Figure 2: At a snapshot of time course completion rates for learners active on forum vs non active. Apart from the student isolation e-learning content creators and facilitators tend to work in isolation, reflecting and sharing of best practices is minimal[6]. We at UpGrad are aware of this problem, and making sure different program teams collaborate and share solutions to common problems. We do not have complete solution to isolation in learning yet. We as a company are focussed on solving this problem, we are testing out few ideas and are willing to share the results with the community. With these changes we are expecting online learning experience to be more engaging, more involving and eventually pushing up the low completion rates of online learning. These are early days of online education and we have miles to go. Bibliography [1] http://collegequarterly.ca/2007-vol10-num03-summer/rolfe.html [2] Online Social Networks as Formal Learning Environments: Learner Experiences and Activities, The International Review of Research in Open and Distributed Learning, Vol 13, No 1 (2012) [3] Tello SF (2007). An analysis of student persistence in online education. International Journal of Information and Communication Technology Education [4] Herbert, M. (2006). Staying the course: A study in online student satisfaction and retention. Online Journal of Distance Learning Administration, 9(4). [5] Morris, T. A. (2009). Anytime/anywhere online learning: Does it remove barriers for adult learners. In T.Kidd (Ed.), Online education and adult learning: New frontiers for teaching practices. Hershey, PA:IGI Global. [6] Duncan, H & Barnett J (2009) Learning to teach online. [7] Kaulback, B (2015). Learning Together : Community and Network from the perspective of designers of online learning. (Doctoral dissertation) [8] Bernard, R. M., Abrami, P. C., Borokhovski, E., Wade, C. A., Tamim, R. M., Surkes, M. A., & Bethel, E. C. (2009). A meta-analysis of three types of interaction treatments in distance education. Review of Educational Research, 79(3), 1243–1289.

by Ankit Mittal

08 Aug'16

898.95K+

Skill deprivation: Education alone won’t guarantee a job, in-demand skills need of hour

If you are 25 years old, hold a degree in a traditional arts discipline from a well-regarded institute and are looking for a job, you may not be handed one on a platter any time soon. You may be cushioned within the famous Indian demographic that is supposed to yield a ‘dividend,’ but unlike what you’ve been reading everywhere, this does not guarantee you employment. Between 1980 to 2010, 90% of world labour force growth occurred in developing countries and about 500 million new workers emerged in India and China alone (workers went from 260 million to 470 million in India, between this period). India is all set to power most of global growth in labour in the coming years. Enrolment in Indian higher education is 24% right now. With India attaining almost universal elementary education, and increased retention in secondary schools, the projected demand for higher education and jobs will only escalate. India has finally been placed on the world map with a solid advantage where labour supply is concerned. Impacting Education: My Journey and UpGrad It’s not all good news though. Indian millennials are being touted as the future of jobs and the saviours of the working world. But this won’t hold true if in-demand skills are not imparted to the youth entering the workforce. The world of work is changing and industries are transforming. It’s a fact that we are moving towards a massive labour pool, but we are possibly riding a low-skill, low-wage cycle to get there. The country is on a trajectory that involves a surplus of millions of low-skill workers, whereas most nations, including India, will be demanding high-skill workers more and more. Most industries are replacing low-skill jobs with high-skill ones. Skills relating to upcoming technologies in advanced areas – think AI, robotics, data science and mining – are gaining immense relevance. Unfortunately, our education system is not preparing students well enough to enter the workforce as high-skill workers nor equipping them with skills in emerging domains. Curricula is outdated and pedagogy poorly-developed. Gone are the days when just holding a graduate degree was enough to get employers to clamour to hire you. Education is not enough. The new-age job-seeker must strive to acquire specific skill sets to be considered employable (currently only 43% of Indian youth are considered fully employable). This applies to all sectors of the economy, as most industries and businesses are adopting new-age technologies and going digital within most functions. There’ll Be A Billion-Plus Job-Seekers By 2050! The positive connotation associated with our demographic shift has been taken for granted and assigned the term ‘dividend.’ But if we don’t strategically harness this change, we could easily be faced with a demographic disaster. We don’t want to be stuck in a situation where we have too many job-seekers with inadequate skills, and therefore not enough jobs for them. India is moving workers out of farm jobs at a very fast rate, and this will only add to the burden of providing jobs in other sectors. Realising this, even the government has begun focusing on skill development and training. Creating an entirely new Ministry and launching the Skill India Mission are clear indications of this. Another sign that skill training is gaining momentum is reflected in the growth of the Indian education and skills industry at an average rate of 13% over four years. From Rs 1.21 trillion in 2008 to Rs 2.35 trillion in 2012. However, these measures have not been enough to successfully skill India’s young. Only 2% of the Indian workforce has received some kind of formal skills training so far, and 8% have received informal training. Comparatively, 47% of China’s workforce is skill trained, 52% in USA, 68% in UK, 75% in Germany, 80% in Japan and 96% in South Korea. Almost half of Indian employers find it difficult to fill jobs and a similar proportion of employed youth suffer from some degree of skill deprivation. By 2050, India will be home to more than a billion jobseekers. This means providing jobs for over 12 million new entrants annually. There is also the challenge of finding jobs for the backlog, which reached 60 million by 2014. The pace of accretion to the labour market will keep increasing, given our demographic profile and declining age-dependency ratio. Our working age population (15-64 years) will peak in 2050 and till then pressures for jobs will only become worse. We need a wake-up call and more concerted efforts towards large-scale skill development and training. We may have a situation of too few high-skill workers and not enough jobs for medium or low-skill workers. This needs to be rectified by adjusting the education and skilling system to ready ourselves for the jobs of tomorrow. Article Source: http://www.firstpost.com/business/skill-deprivation-education-alone-wont-guarantee-a-job-in-demand-skills-need-of-hour-3020568.html

by Apoorva Shankar

08 Nov'16

5.13K+

Why The Growth Of Higher Education In India Hinges On The Private Sector

For the sake of simplicity, let’s say that the public sector’s role in education can be identified as a three-fold one. Firstly, it is tasked with universalizing access to education. Its next responsibility would be to regulate the sector and finally, to ensure quality education for all. In the context of the access provider role, estimates show that just in terms of physical infrastructure, more than a US $100 billion spends would be required in higher education alone, to double enrollment, from where it stands today (24%). Where regulation is concerned, bodies such as the University Grants Commission (UGC) and other higher education regulators are in-charge but leave much to be desired in terms of quality checks and monitoring, accreditation, etc. In fact, the UGC merely acts as a grants disbursing body now for universities and colleges, rather than a regulator. This is despite the fact that about 16% of the Ministry’s budget (2016-17) was allocated to UGC. Regarding quality, the government struggles to set standards and measure outcomes. Accreditation in the country is irregular and sub-optimal. In addition, unlike school education, where a certain level of learning outcomes may be gauged, this is difficult to do in higher education – especially assessing employability of a student post completing such education. So is there a role the government should prioritise? Further, because the government is entrusted with these roles, does it necessarily mean that they are its exclusive mandate? Or should the government act as an enabler and allow external participation if it means better execution and a higher success rate? The education and training industry is extremely large today and has strong further growth potential. With total educational spending of $2.7 trillion, the industry accounted for about 4.25% of the world’s GDP in 2010. In India alone, the spending on education and skilling has touched approximately Rs 74,000 crore. This may seem like a daunting figure but is still not sufficient. India spends about 4% of its GDP on all of education (about 1% on higher education), whereas globally the minimum recommended expenditure on education is 6% of GDP. Most of the public expenditure on higher education is used upon salaries and maintaining existing institutions, leaving very little to be spent on curriculum, research, and technology. However, spending on education still has enormous scaling to do and this is where the private sector comes in. Private players will have opportunities from rising demand in segments not well covered by the public education system (like adult education and vocational training). They bring in additional capital and are able to make huge investments, especially when government spending is insufficient and results in substantial infrastructure and investment deficit. For instance, the government had set a target of achieving a 30% enrolment ratio in higher education by 2020. The enrolment ratio currently is 24%. Judging by historical trends, and the current pace of rising enrolments, this target seems difficult to achieve. We may need a better, plan to succeed. Plus, the demand for higher education is only set to accelerate with growing population, higher enrolment as well as retention of students in schools. The private sector could play a crucial role in plugging these gaps and matching demand. In fact, it is already capturing the market in a big way, as can be seen in the adjacent graph. Enrolment in, and share of, private higher education institutions has surpassed that of government institutions (data as on 2013). Even the online education market in India expected to grow to US $40 billion by as soon as 2017. Unlike the education sector, which is legally mandated to operate on a not-for-profit basis, for-profit skill training institutes can be set up. This, coupled with initiatives of the National Skill Development Corporation, has encouraged the private sector to set up vocational training institutes. Corporate interest has also increased in the skill development space because of the benefits that accrue to businesses themselves, in the form of adequately trained manpower as a ready pool for future hiring. Majority of institutions offering professional disciplines are now in the private sector. There is a tendency of the public sector to view the private sector’s involvement in the education space with scepticism. But the private sector is necessary because of its ability to match industry demand for superior skilled manpower. It supplements infrastructure, facilities, technology and pedagogy and has an added advantage of escaping bureaucratic control and retaining autonomy to a large extent. Private players often collaborate with reputed international universities for faculty and other benefits which can be attractive to prospective students. They are also heavily investing in research-based education. As consumers of skilled manpower as well, the private sector is in a position to understand what type of skill training is to be imparted, and eventually benefit from it. This makes skill-training more efficient and effective. All three education-related roles of the government are equally important. However, while regulation should remain outside the purview of the private sector, nothing should stop them from assisting the public sector in maximising enrolments and improving quality of education. Public needs to work with private and create a level-playing field, in order to uplift the overall quality of education. Article Source: http://www.huffingtonpost.in/mayank-kumar/why-the-growth-of-higher-education-in-india-hinges-on-the-privat/

by Apoorva Shankar

08 Nov'16