Career Options After BMS: What to do After BMS? [2024]

Updated on 25 June, 2024

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Career Options After BMS

Bachelor of Management Studies (BMS) is a top-rated course with youngsters across the country. Students can pursue a three-year undergraduate degree, either offline and online from any college and university. There are many job-oriented short term courses which will be in-demand for students once they have cleared the exams and received their degree.

But, before understanding the scope for you after BMS, you first need to understand what management science is and why it is a respected and must-sought degree, not only in India but across the world.

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Management as a Science

Management gained acceptance as a science during the Industrial Revolution in Britain in the 19th century. One of its first proponents was Frederick Winslow Taylor, a mechanical engineer by profession, who authored the book “The Principles of Scientific Management” in 1909.

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Since then, management as science has taken the world by storm as using scientific methods you can use to complete processes and projects, efficiently. No business or organization can survive the stiff competition of the global markets and constant improvements in technology.

Pillars of Management

Taylor proposed the four pillars of management, and the crux is:

  1. Management helps individuals and organizations determine the most competent and proficient way to complete a task.
  2. Using it to monitor the performances of employees and business processes. It involves identifying gaps and creating efficient solutions.
  3. Identifying the strengths and weaknesses of both people and processes. It also involves ensuring the right learning is shared to improve efficiencies.
  4. A manager is responsible for planning for the improvement of both the professional, people and processes.

But, today, the 14 principles of Henri Fayol’s Administrative Management Theory are widely accepted by organizations and businesses. His principles focus less on science and more on the administrative side of management intending to create an efficient company structure.

Read: Top 10 Highest Paying Jobs in India

Career Options after BMS 

Now, that you have understood how management is important across the world, let us understand both the academic and career options after BMS.

1. Academic Options After BMS

Not every student pursuing a Bachelor of Management Studies wants to start doing a job after completing their undergraduate degree course. Some like to study further to increase both their knowledge and improve their chances of employability. The options are many from Master’s Degree, Doctorate Programs, Diplomas, and online courses that you can explore, and some of the more popular ones are shared below.

Also visit upGrad’s Degree Counselling page for all undergraduate and postgraduate programs.

2. Masters of Business Administration 

More popularly referred to as MBA, it is a graduate degree pursued by students from every academic background. The courses by colleges and universities offer theoretical knowledge and practical training in business and investment management. They learn to focus on financial management, risk management, sports management, celebrity management, entrepreneurship, healthcare management, international business, and more.  

You will have to clear the CAT and score a high percentile to get admission in the top B-schools of the country. In India, it is usually a 2-year degree program with a focus on business strategy, planning, organizational behavior, management, finance, accounting, business strategy, and employee management.

The average salary you can earn:

Source

You can look forward to working with both the government and the private sector after getting an MBA degree. 

3. Masters of Management Administration or Masters in Management

Both MBA and MMS are similar in their aspects as they relate to business management. Both are postgraduate degrees, but the major difference lies in the area of study. MMS or MIM students specialise in one area of a business, such as accounting, finance, economics, psychology or marketing. The focus on specialisation has made this a popular course since the early 2000s, and many universities and colleges are offering this specialised degree to interested candidates.

You need to complete an undergraduate program to get admission in the Master’s program. The program is usually for two years, and the course will vary depending on the area of specialisation. Classroom learnings and case studies are the key learning methodologies for this program.

A look at the average salaries by job:

Source

Though not as popular as MBA, MMS is a sought-degree with brands looking to hire experts in one area of their business.

4. Post Graduate Diploma in Management

The PGD in Management, like MIS, is similar to an MBA. This one year course will help students pursuing develop skills to become effective leaders. Subjects of study covered by the diploma are financial accounting, business economics, business English and basics of mathematics and statistics. Getting admission in a PGD in Management is as tough as getting admission in an MBA; candidates are required to clear written exams, and personal interviews before admission are offered.

During the course of the program, the focus is on practical learning, where you will work in small groups and teams. Learning methodologies of nearly all institutes focus on nurturing individuals to take on the responsibilities of a strategic, business manager.

Let us look at the salaries for a Post Graduate Diploma in Management

Source

Most of the biggest brands in the world hire PGD candidates to join their sales and marketing teams.

5. Masters of Computer Application

The popular course of MCA is for students who are looking for specialisation in computer science. As data and the science behind maintaining is the buzzword with every industry, it is a popular choice. It is natural to assume that only students who have cleared their BCA can get admission in this course. However, the Master’s program is open to students from different fields. So, if you have done your BMS and have a keen knowledge and interest in computer science, you should definitely explore this option.

The three-year degree prepares students to take on the responsibilities of an App Developer, Business Analyst, Database or Hardware Engineer, Ethical Hacker, Web Designer & Developer, and more. During the course, students will gain knowledge on developing computer applications to work in sectors such as banking, IT companies, digital marketing companies, desktop publishing, networking, and more.

A quick look at the basic pay scales for MCA graduates in India

 Source

MCA graduates are in high demand with both national and international organizations, and if you want to work abroad, building on your English language skills is also important.

Professional Courses

Instead of going the traditional way of doing a Masters or Post Graduation, students can explore the many options offered under professional courses. Most of these are run online and require a limited number of hours. You can pursue these courses along with a career, thus ensuring a steeper career growth in the future.

Some of the courses include:

  1. MBA Business Analytics – 18 months
  2. Data Science – PG certification – 5 months
  3. Digital Marketing – PG certification – 5-11 months
  4. MBA from Liverpool Business School
  5. Blockchain Certification – 6 months

Remember that these are professional courses, and in some cases, it may be mandatory to have job experience. Always check out the requirement of the course and your eligibility before applying for the course.

Most Common Specialization Courses in BMS – 

BMS full form is Bachelor’s in Management Studies. Students can choose any preferred specialisation in the BMS programme. They can pick a BMS course in the Marketing Management programme if they want to work in the marketing sector or a BMS scope in Travel & Tourism course if they want to work in the tourism sector. While many people wonder, is BMS a professional course? The answer is, yes. Here is a list of some of the most sought-after BMS course specialisations that will help you get amazing after BMS job opportunities:

  • Digital Marketing
  • Human Resources
  • Entrepreneurship
  • Finance/Accounting
  • Hospitality
  • Travel & Tourism
  • Hotel Management

Digital Marketing 

When we look for industries that are expanding both domestically and internationally, we find Digital Marketing. Virtually every company strives to have a digital presence in light of the increasing reliance on online markets. The COVID-19 pandemic’s effects in 2020 allowed firms with a digital presence to thrive. Organizations that relied only on physical clients were having difficulty competing. Thus, digital marketing has become a huge part of any business to grow. BMS scope in digital marketing. Experts in digital marketing are in high demand.

Human Resources 

Employees are a company’s most valuable resource; thus, every business organisation has to hire qualified specialists. The HR department of the firm helps the business bring in worthy individuals, which is why it is one of the essential elements of every organisation (HR). To be able to attract the greatest resources, an HR professional has to be aware of the needs and future of the company. BMS job opportunities in human resources are great.

Entrepreneurship

BMS full form is Bachelor of Management Studies. Conceptualizing, starting, and operating a commercial company to offer goods and services, create jobs, generate income, and support the national economy are all considered to be aspects of entrepreneurship. One must possess all the abilities and understanding of a sustainable approach to business in order to establish a successful company and help it expand through the ever-changing economic climate.

Entrepreneurship is highly regarded worldwide since it not only offers self-employment but also significantly influences a nation’s economy by creating jobs and generating income. Many of today’s entrepreneurs are well-known figures and role models for young people.

Finance/Accounting

Finance classes teach students how to manage their money and engage in financial activities, including investing, borrowing, saving and predicting. In the entire world, finance courses are the most popular since they open up a variety of profitable and fulfilling professional choices. Qualified finance specialists handle a significant portion of the company’s cost and accounting management. In every company across all industries, finance and accounts experts are necessary. BMS job opportunities in finance and accounting are amazing. 

Hospitality

A highly lucrative business, hospitality and travel offer graduates several work options in a variety of service industries. The two most important requirements to succeed in the hospitality and travel sector are a charismatic personality and effective communication skills while working with clients. Candidates in this sector can choose any specialisation and then complete the necessary training. BMS course scope in hospitality is bright. After BMS job opportunities in this field are also great. 

Travel & Tourism

The hospitality and travel industries are most commonly defined by travel and tourism. One of the biggest sources of income around the globe is tourism. The entire travel and tourism sector was impacted by the COVID-19 pandemic’s global lockdown, which led to a decrease in economic development in both wealthy and developing nations.

Therefore, travel and tourism are very important for a country to flourish. There will be a huge need for people with experience in travel and tourism as the hospitality and travel industries are predicted to expand dramatically in the years to come. BMS course scope in travel and tourism is amazing. 

Hotel Management

You’ve probably left a hotel grinning and giving the staff a five-star review on the experience. It is due to the high calibre of the hotel and hospitality management team. Good hospitality is valued around the world, which explains the increase in demand for workers in the sector. If you want to work in the hotel or hospitality industry, you may study it at both the undergraduate and graduate levels. After BMS job opportunities in hotel management are great. 

ACCA Certification

Getting the ACCA (Association of Chartered Certified Accountants) certification post-BMS promises global recognition in finance. ACCA equips you with comprehensive knowledge in accounting, finance, and business management. This internationally acclaimed certification opens doors to diverse career avenues, from financial consultancy to strategic leadership roles.

The ACCA curriculum covers financial reporting, taxation, and audit, ensuring a holistic skill set. Attaining ACCA after BMS not only enhances your employability but also positions you as a strategic financial leader on the global stage. Navigate the complexities of modern finance with ACCA, setting the stage for a dynamic international career.

Job Options After BMS

 Now that we have looked at some of the popular academic options available to students, it is time to understand the options available. One thing that graduates must remember is that most organizations will offer entry-level positions. You can choose to do one of the courses mentioned above, or gain experience in the field and join a professional course that will further your career.

Here are some of the most sought after jobs by BMS graduates:

  1. Operations Management – Choosing the role of an Operations Manager as one of the bachelor of management studies career options offers a strategic avenue to apply management studies. Responsible for overseeing processes and ensuring smooth workflows, you play a pivotal role in organizational efficiency. Leveraging skills honed during your BMS, you navigate the intricacies of project execution and team coordination. 

Courses after BMS may complement your capabilities, but diving into operational management opens doors to impactful roles. From streamlining processes to optimizing resources, the after BMS job of an Operations Manager aligns with the multifaceted skill set cultivated during your Bachelor of Management Studies. Every company depends on its operational manager to ensure that the processes are running smoothly and efficiently. Organizations are usually looking for individuals with an eye-for-detail and ability to multitask.

  1. Project Level Management – Beyond BMS, delving into project management covers the essence of leadership, planning, and execution. Your BMS career options expand, encompassing roles where strategic thinking and organizational prowess are important. Post-BMS, becoming a Project Manager allows you to synthesize your academic foundation with real-world challenges, contributing to successful project outcomes and fostering your professional growth in the multifaceted landscape of management studies. The work of large and small scale companies are divided into projects. Companies are looking for educated individuals with the flair to manage stand-alone and multiple projects. They require leaders who can understand the value of planning, implementation, completion, and risk assessment.
  2. Customer Relationship Executives – As a Customer Relationship Executive post-BMS, you become the frontline ambassador for a company. Your role involves understanding customer needs, addressing concerns, and ensuring satisfaction. Building and nurturing strong client relationships are crucial. This position combines sales, marketing, and customer management, requiring interpersonal knowledge. It’s about translating client feedback into actionable insights for the company. 

Your ability to communicate effectively, empathize, and resolve issues contributes significantly to brand loyalty. In a dynamic market, being a Customer Relationship Executive offers a chance to shape positive customer experiences and foster long-lasting partnerships. Customers are pivotal to the success of both B2B and B2C companies. Most organizations hire customer relationship executives to coordinate with their customers. The main job revolves around understanding the customer requirement, sharing it with the concerned team, and then ensuring that the work gets delivered according to the expectations. It requires interpersonal skills and people’s management skills. It will cover sales, marketing as well as customer and communication management.

  1. Human Resources Administrator & Recruitment Executive – Wondering what to do after BMS? Explore diverse career options like becoming a Human Resources Administrator. After BMS job opportunities in HR open avenues for those seeking dynamic roles. Courses after BMS complement this path, enhancing your understanding of people management. As a BMS graduate, you can seamlessly transition into roles like HR Administrator. Career options after BMS include impactful roles in human resources, managing talent, and fostering organizational growth. These career opportunities after BMS present a dynamic landscape where your skills contribute significantly to shaping a positive and efficient work environment. Most BMS students can apply for jobs with the HR departments, which also cover recruitment. The main responsibilities of the job are ensuring people-processes. HR executives are usually going between the management and executives, and hence, they enjoy a rather special place in the company ecosystem. The skills you will need to build upon will include people management with a strong foundation of creating and implementing processes for higher employee efficiency.  
  2. Financial Executive: Wondering after BMS which course is best or what can i do after bms degree? A compelling option is a career as a Financial Executive. After BMS, job opportunities in finance abound, and pursuing courses like Chartered Accountancy enhances your skills. With a Bachelor of Management Studies (BMS), you’re equipped for diverse career options in finance. Explore jobs after BMS in finance, where financial executives play a pivotal role in managing budgets, ensuring fiscal health, and making strategic financial decisions. The BMS course scope aligns seamlessly with financial roles, offering career options after BMS that promise professional growth and significant contributions to organizational success. No company can be successful in the long run if they are not managing their finances. From working with the accounts team, you can be called upon to help the sales team plan. You will mostly be tasked with advising teams on improving cost-efficiency with the help of newer processes or shift towards automation. 
  3. Data ScientistEntry Level – BMS graduates can opt for the role of a Data Scientist. Armed with analytical skills and an understanding of statistics, Data Scientists decipher patterns from extensive datasets. They play a crucial role in shaping business strategies, aiding decision-making, and predicting future trends. Proficient in machine learning, Data Scientists are in high demand across industries. Post-BMS, entering the data science domain offers opportunities to extract valuable insights from information, guiding organizations towards innovation and informed decisions. As mentioned above, most people wrongly assume that you need to be a computer engineer to pick up the job of a Data Scientist. The fact is that if you learn data science of the basic programming languages, you can easily join a company as a Data Scientist. The job is very much in demand across the world, and you can look to work with the biggest brands.
  4. Business Consultant: Searching, ‘After BMS which course is best?’ A compelling choice is to get into the role of a Business Consultant. Opting for courses after BMS that align with consultancy can be advantageous. As a BMS graduate, you possess the foundation to excel in consultancy roles, guiding organizations towards strategic success. Leveraging your BMS course scope, you navigate complexities, offer solutions, and drive business enhancements. Jobs after BMS in consultancy open doors to diverse industries, making it an enticing career path for those keen on problem-solving and strategic contributions.
  5. Marketing Executive: Seeking what after BMS? Begin an exciting journey as a Marketing Executive after completing your BMS. This career choice extends beyond conventional boundaries, allowing you to delve into market intricacies, understand consumer trends, and devise innovative promotional strategies. Post-BMS, the dynamic field of marketing gets open, offering diverse opportunities. 

Roles include shaping impactful campaigns, analyzing market data, and contributing to brand expansion. Courses post-BMS tailored to marketing nuances pave the way for a seamless transition. Explore the multifaceted field of marketing, where creativity meets strategy, and carve a fulfilling career path that aligns with your passion and expertise.

  1. Chartered Accountancy: Choosing Chartered Accountancy (CA) after BMS unfolds a pathway to unparalleled financial expertise. This esteemed profession involves rigorous training, financial audits, and strategic fiscal management. As a Chartered Accountant, you become a financial guardian, ensuring regulatory compliance and optimizing monetary resources. Pursuing CA after BMS opens doors to specialized roles in auditing, taxation, and financial consultancy. Rigorous examinations, including practical training, shape a comprehensive skill set. Beyond theoretical expertise, CA hones practical financial insights, making you invaluable to diverse industries. Elevate your financial prowess, uphold fiscal integrity, and begin a distinguished CA journey after your BMS degree.
  2. Digital Marketing Executive: Wondering, ‘What to do after BMS?’ Starting a career as a Digital Marketing Executive post-BMS unlocks a dynamic path. With your Bachelor of Management Studies (BMS) degree, diving into digital marketing blends creativity and strategy. This role, post-BMS, becomes an exciting avenue where you use your management background to navigate the online landscape. Beyond BMS, being a Digital Marketing Executive means creating engaging campaigns, understanding consumer behavior, and exploring innovative channels. Your options of jobs after BMS expand, merging marketing skills with the digital field, providing a journey full of creativity and strategic influence.
  3. Accounts Executive: With a Bachelor of Management Studies (BMS) degree in hand, you seamlessly connect your management foundation with the expertise of accountancy. In this post-BMS journey, the role involves overseeing financial transactions, ensuring precision, and actively contributing to the fiscal well-being of the organization. Beyond BMS, embracing the path of an Accounts Executive lets you apply your management skills in a specialized financial domain. Your career options expand, merging management skills with the nuanced field of accounts, creating a journey where meticulous financial management becomes your strength.

Let’s explore some additional perspectives related to career options after BMS (Bachelor of Management Studies).

1. Global Trends in Management Education

There is a surge in the demand for management education due to the dynamic nature of businesses. Economies are placing a significant emphasis on developing skilled managers to drive innovation.

2. Technological Integration in Management Courses

With the rapid advancement of technology, management courses globally are incorporating elements of artificial intelligence, data analytics, and digital strategies. This integration aims to prepare students for the evolving demands of the business world, where technology plays a crucial role in decision-making and operations.

3. Soft Skills Development

Employers are not only seeking candidates with technical expertise but also those who possess strong communication, problem-solving, and leadership skills. Management programs are adapting to include modules focused on nurturing these attributes.

4. Entrepreneurship Ecosystem

Many countries are fostering startup cultures, providing incubation facilities, and offering financial support to encourage young entrepreneurs. Management graduates with an entrepreneurial mindset are crucial contributors to these ecosystems.

5. ESG Factors

There is a growing awareness of environmental, social, and governance factors. Companies are recognizing the importance of sustainable practices, ethical governance, and social responsibility. Management programs are adapting their curriculum to instill a sense of responsibility and sustainability in future business leaders.

6. Remote Work and Management

Remote work has become a norm, influencing management practices. Management studies are incorporating modules that address the challenges and opportunities associated with remote leadership, team collaboration, and digital communication.

7. Global Networking Opportunities

Expanding on this, many universities and business schools facilitate global networking opportunities. Students have access to international conferences, exchange programs, and collaborative projects, providing them with a broader perspective and valuable global connections.

8. Industry-Specific Management Courses

Sectors like healthcare, renewable energy, and cybersecurity now have specialized management programs tailored to the unique challenges and opportunities within these industries.

9. Continuous Learning and Professional Development

The field of management is dynamic, and professionals need to engage in continuous learning. Online platforms, webinars, and micro-credentialing are becoming popular avenues for professionals to enhance their skills and stay updated with industry trends. Management graduates are encouraged to adopt a mindset of lifelong learning.

10. Global Mobility of Management Professionals

Management studies open doors to global career opportunities. Many graduates opt for international assignments, contributing to the global exchange of managerial expertise. Understanding cultural nuances and having a diverse perspective are increasingly valued qualities in the international business arena.

Top Four Reasons to Join BMS 

We have now covered the scope of both career and academic opportunities that you can explore. 

But, let us look at the reasons why you should join a BMS program.

1. You get to choose from multiple career choices. The program prepares you to take on a variety of roles within an organization. As is obvious from the career choices mentioned on the top, you will develop the capability to don on many hats. You will have the choice to work with nearly every department in the organization, depending on your capabilities and interests.

2. It is a course that gives you a professional edge over the other Bachelor’s degrees. Usually, the course structure is adapted to address the changing demands of the industry. Hence, at the end of three years, students will find themselves equipped to take on the rigorous demands of an organization.

3. Students get great starting salaries. The starting salary for most of the above-mentioned job profiles is between three and six lakhs per annum. You can easily expect a much higher salary after you have gained experience in your field. Most students are surprised to learn that organizations support higher learning programs through a focus on work-life balance and employee-centric leave policies.

4. Get an opportunity to pursue different academic opportunities. Again, the section on the academic scope of this blog features the numerous management degrees and professional courses that BMS students can explore. The pay scales are also an indication of how high you can rise. There is no dearth of good opportunities with Fortune 500 companies if you get your degree or diploma from the top universities of the world.

Things to Remember Before Joining a BMS Program

  • Go for psychometric testing to identify interests and capabilities – it will help you decide whether you are cut out to take on this professional course
  • Sit down with a counselor to plan your career path – it will give you a clear idea of the course you need to do and the jobs you should pick up
  • Always research the institute and go through their course structure before signing up for their program – always read reviews, and try to get in touch with alumni to know more about the course and institute
  • Check out the BMS faculty of the college you are joining – how much experience do they have? What is their educational background? How do students respond to them on social media? All these will give you an idea of the suitability of the course.

Summing up

Is BMS a professional course, and should you take it? The answer is yes. Students across the country covet education, and understandably so. It is a getaway for a better life and lifestyle, and students get the opportunity to be employed by the top renowned brands in the world. However, choosing a career path depends largely on your attributes and interest, and if management is what interests you, then the BMS degree is the perfect launchpad. 

If you are keen on upgrading your career with an Executive MBA course, upGrad is offering MBA from Liverpool Business School. The program has been designed to stand at par with the best on-campus Executive MBA programs across the globe.

Frequently Asked Questions (FAQs)

1. What is the difference between MBA, MMS and PGDM?

Firstly, all the three courses are related to management and are pursued after completion of graduation. MBA stands for Management of Business Administration and is offered either as a regular MBA or an Executive MBA. MMS stands for the Master of Management Studies and PGDM stands for Post Graduate Diploma in Management. As the name defines, PGDM is a diploma course and not a full-time degree but offers value that is almost similar to other degrees. When on one hand MBA and PGDM are recognised internationally, MMS is approved by AICTE (All India Council for Technical Education) and is of value only in India.


 

2. What are professional courses?

Each profession needs personnel who have specific knowledge and skills in that specific field. The need for such personnel is fulfilled by people pursuing professional courses. To keep up with the industry’s demand for the required skill set, professional courses provide learning and experience in the desired field. Such qualifications vary from industry to industry. To discuss a few, Chartered Accountant, Company Secretary, Lawyer, Doctor, etc., are all professions which require some specific qualification to become a licensed practitioner. Pursuing a professional course may seem to be a road less traveled but the destination is well worth the journey.


 

3. hat is the average salary of a BMS graduate?

Bachelor of Management Studies is an undergraduate professional management course. Plethora options are available after pursuing the course, may it be in terms of job availability or further continuation of education. If one opts to go for a job after completing graduation, the average salary may range from INR 3 lakhs to INR 8 lakhs per annum. It would depend upon the job profile and also the number of years of experience. It being a management field salary would alter depending upon the area of management. To illustrate, the salary offered to an Operations Manager, or finance manager would be higher than one offered to a customer relations manager.


 

4. What is the difference between MBA, MMS and PGDM?

Firstly, all the three courses are related to management and are pursued after completion of graduation. MBA stands for Management of Business Administration and is offered either as a regular MBA or an Executive MBA. MMS stands for the Master of Management Studies and PGDM stands for Post Graduate Diploma in Management. As the name defines, PGDM is a diploma course and not a full-time degree but offers value that is almost similar to other degrees. When on one hand MBA and PGDM are recognised internationally, MMS is approved by AICTE (All India Council for Technical Education) and is of value only in India.


 

5. What are professional courses?

Each profession needs personnel who have specific knowledge and skills in that specific field. The need for such personnel is fulfilled by people pursuing professional courses. To keep up with the industry’s demand for the required skill set, professional courses provide learning and experience in the desired field. Such qualifications vary from industry to industry. To discuss a few, Chartered Accountant, Company Secretary, Lawyer, Doctor, etc., are all professions which require some specific qualification to become a licensed practitioner. Pursuing a professional course may seem to be a road less traveled but the destination is well worth the journey.


 

6. What is the average salary of a BMS graduate?

Bachelor of Management Studies is an undergraduate professional management course. Plethora options are available after pursuing the course, may it be in terms of job availability or further continuation of education. If one opts to go for a job after completing graduation, the average salary may range from INR 3 lakhs to INR 8 lakhs per annum. It would depend upon the job profile and also the number of years of experience. It being a management field salary would alter depending upon the area of management. To illustrate, the salary offered to an Operations Manager, or finance manager would be higher than one offered to a customer relations manager.


 

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.

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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.
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by Mayank Kumar

20 Apr'16
Google I/O 2016 – Day 1 | Recap

5.07K+

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.
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by Dilip Guru

19 May'16
There’ll Be A Billion-Plus Job-Seekers By 2050, So Get Yourself Skilled NOW

898.95K+

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.
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by Mayank Kumar

20 Jun'16
Only 25% Of Indian Graduates Are Employable, And The Solution Is Obvious

6.57K+

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.
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by Mayank Kumar

13 Jul'16
7 reasons to watch UpGrad Talks today

5.19K+

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.
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by Omkar Pradhan

06 Aug'16
Evolving online education: Learning Together

5.36K+

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.
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by Ankit Mittal

08 Aug'16
Skill deprivation: Education alone won’t guarantee a job, in-demand skills need of hour

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
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by Apoorva Shankar

08 Nov'16
Why The Growth Of Higher Education In India Hinges On The Private Sector

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/
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by Apoorva Shankar

08 Nov'16