25 Best Career Options For Commerce Students [Trending Professional Courses in 2024]

Updated on 15 May, 2024

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Best Career Options For Commerce Students

Having cleared your tenth boards, you must have faced the impending question to select a particular stream. The inclination towards science will result in its selection, and the choice towards the other two- arts or Commerce comes suspending with the options the student has after they select a particular option.

Wondering what to do after 12th commerce? If you are trying to find the courses after 12th commerce, you learn accounts, finance, and business aspects, and you always have an opportunity to switch to Arts-based on your interests in the field. The future scope of commerce is bright and the commerce stream jobs have the ability to provide high salary if you choose the best career in commerce. So, this is the article for students who are wondering what to do after 12th commerce. 

You can also check out our free courses offered by upGrad in Management, Data Science, Machine Learning, Digital Marketing, and Technology. 

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

Commerce is a well-structured field to start your career plan with. Before taking the commerce field, check out all the professional courses after 12th commerce available and decide which one would be more suitable to you. To find the best career in commerce, you need to know the list of options you have. Completing your 11th-12th in Commerce after your higher secondary class ten board examinations will open up possibilities for you to select your option of a career plan. 

Also check our useful program on Advanced Certification in Digital Marketing – MICA

Most of the commerce stream jobs require on-the-job experience and some skills sets to help you grow. Courses after 12th commerce have a lot of scope and advantage if taken correctly.  So, if you are wondering what are all the career options after 12th commerce, this article will guide you.

Students having studied Commerce can pursue their professions in any of the following with the commerce courses offered: Let’s discuss in detail about the professional courses after 12th commerce. There are various commerce jobs list and salary one can compare and choose the best suitable options.

Also read: Top 10 Highest Paid Jobs in India in Commerce Field

Why Enrol In The Best Courses For Commerce Students?

After 12 commerce what to do? This is very important question every student think after completing class 12th. You can pursue research opportunities or establish a reputable, lucrative job by enrolling in the best courses for commerce students. Let’s examine the advantages of selecting a course on the 12th following commerce.

Numerous Career Prospects

After commerce career options you have a lot of employment alternatives. Jobs in the banking, investing, consulting, finance, and insurance sectors are among them. You can select one of the best courses for commerce students based on your career goals and areas of interest.

Real-Life Uses

The best career options after 12th commerce for girls & boys both come with practical applications that are evident at both the micro and macro levels of life. These programs provide you with the knowledge you need to create successful enterprises, manage your money better, and even preserve economies. 

Every commerce career options has real-world applications. You learn how to operate a business, become financially literate, and discover how to multiply your money through investments.

High-Paying Jobs

What we can become by taking commerce? Making money is one of the main advantages of pursuing a commerce course following your 12th-grade year. Compared to all other domains, science and the humanities offer less high-paying professions than commerce-based fields. 

An employee will never earn as much as a businessman. Scientists and engineers will earn less money than investment bankers or chartered accountants.

Career Options for Commerce Students

1. Bachelor of Commerce (B.Com)

This degree is the most customary course that students tend to choose after their class 12th completion. It is a 3 year degree course that provides curricular knowledge on subjects like Accountancy, Statistics, Management, Human Resource, Computer, Economics, etc. You can swiftly get admission to the various varied universities or institutions offering this course, based on your scores in class 10th and 12th boards. B.Com is one of the best commerce courses available and one of the best professional courses after 12th commerce. 

B.Com does not have a high difficulty level in the course structure, and students seeking this can easily practice and pursue other courses to gain specialization in different fields. Learn more about career options after B.Com. This is one of the initial career options after 12th commerce which the students tend to pursue.

2. Bachelor of Laws (LLB)

Having concluded your class 12th commerce, LLB emerges as one of the options that present enormous scope for students ahead in their career. Governed by The Bar Council of India (BCI), an LLB degree offers students to be of influence as lawyers or advocates. This program entails the study of subjects like Family Law, Constitutional Law, Property Law, Company Law, Administrative Law, etc. LLB is one of the popular choices for professional courses after 12th commerce by students. This is one of the best courses for commerce students to pursue posy- completion. 

Also, Check out online degree programs at upGrad.

3. Cost and Management Accountant (CMA)

Just like the CA course, this degree is a professional course offered by The Institute of Cost Accountants of India. Similar to CA and CS, the curriculum is a formation of different levels, for students to clear the rounds.same as CA and CS. CMA is one of the best career in commerce. Following this course, it is required of students to obtain education and expertise associated with subjects like Cost & Management Accounting, Fundamentals of Commercial and Industrial Laws,  Laws and Ethics, etc. This is one of the in-demand commerce professional courses.

4. Chartered Accountancy (CA)

The Institute of Chartered Accountants of India administers the professional course for students having completed their class 12th in commerce. This professional course comprises various levels. CA is one of the famous and the best career in commerce. Students need to clear one to be eligible to sit for the next level with a higher difficulty level. If you are looking for the best commerce courses after 12th, CA is one of the best option out there. 

The overall difficulty level of this course is very high when compared with bachelor’s degrees. For a student to gain this certification will earn the CA title, and will yield profitable returns and one of the best careers in commerce. CA is one of the highest salary commerce stream jobs in the market. One of the most popular commerce courses available. 

The level of difficulty under this course is much higher as compared to other bachelor courses. Subjects included in this course are Accounting, Cost Accounting and Financial Management, Advanced Accounting, Taxation, Auditing and Assurance, Business Laws, Ethics and Communication, Information Technology and Strategic Management, Corporate and other Laws, etc.

Curious about the most lucrative career paths in commerce? Explore our detailed guide on the highest paid jobs in India in commerce, and aim for a prosperous future in the business world.

5. Bachelor of Business Administration (BBA)

Thinking about what to do after 12th commerce and interested in business administration? Want to get into business administration right from the beginning? The BBA is a common choice amongst students after they’ve completed their class 12th having studied commerce. It is a three-year undergraduate program where students obtain an education based on the principles of business and its administration.

Business aspects and methodologies are taught from the very beginning, and students learn methods of corporate operations and laws in functionality. This option is suited for students who have decided to join companies or run their businesses from a very starting phase of their careers and want all the expertise and skills to be taught right from where it starts.

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

6. Company Secretary (CS)

Unlike the CA certification, the CS or Company Secretary course is under the administration of The Institute of Company Secretaries of India(ICSI). Students with an inclination towards theoretical courses in Law choose this course for a career option. It is one of the best courses after 12th commerce. 

The degree brings laurels to the candidate bearing it, and, like the CA course has levels to clear each time till they reach the final CS Professional Programme category. The course provides an understanding of the legal purposes and agreements of companies. It will earn the applicants senior-level positions in corporate organizations. It is one of the attractive commerce courses available. 

7. Certified Financial Planner (CFP)

Considered as one of the best careers in commerce, the Financial Planning Standards Board India (FPSB) administers and supervises this professional course. For students having an interest in financial planning subjects, the courses certify and recognize expertise and knowledge in topics like financial planning and taxes, retirement, insurance, and estate planning. CFP is one of the top professional courses in commerce field. 

8. Bachelor of Economics

One of the best professional courses after 12th commerce, this three-year course is an essential and profitable alternative open for students. Following this program, students get exposed to various financial concepts and analytical methods in economic studies.

For learners having an interest in economics, this is a desiring option to secure knowledge and skills in understanding the underlying concepts and principles governing the subject. Subjects included in this course along the lines of economics are microeconomics and macroeconomics, econometrics, statistics, history of economics, political economy etc make this one of the best career options in commerce. 

9. Journalism and Mass Communication

Journalism and Mass Communication is a course different from the business courses that offer education related to finance and business topics. Students who have the interest to seek a career in media houses, be it print media or digital media for content creation and delivery, can opt for this course. This degree is a three-year program that will explore your skills and provide you with an education in Media and Indian Polity, Public Relations and Corporate Communication, Event Management, etc.

Learn: Top 10 Online Courses with High Salary

10. Bachelor of Commerce in Financial Market (BFM)

The BFM  is one of the most sorted commerce career options.  The three-year undergraduate degree program teaches students about finance, financial markets and their functions. The students can get various career opportunities after pursuing the relevant commerce group courses.

11. Bachelor’s in Accounting and Finance

It is a three-year graduate course that helps students learn about accounting and finance. The students get to learn about the technicalities of accounting and finance, which sets them up for successful career options for commerce students. The scope for commerce students in this subject is very high as various recruiters are in the market for this background students. 

12. Bachelor of Commerce in Banking and Insurance (BBI)

The students of BBI get their education in a niche and expertise area, allowing them to become skilled in a dedicated role. This is one of the good professional courses for commerce students which opens various doors for them. It is a three-year course which teaches about Banking and Insurance. It is one of the promising career options in commerce. 

13. CMA or Certified Management Accountant

This is an another career for commerce students. An expert in the field of management accounting and financial management is a CMA. Financial planning, control, analysis, and decision support are among the skills these people possess. After finishing your tenth class, you can enrol in the CMA foundation course. 

It needs a 12th pass to sit for the CMA foundation exam. To be admitted directly to the intermediate course, you need to have completed your graduation. 

14. Product Management

Every business continuously creates cutting-edge products and services using the most recent technical advancements to cater to a worldwide market. A product manager is an essential team member from the first phases of conceptualisation to design and production. 

From Microsoft to Tesla, every company is always looking to hire highly innovative and visionary product managers with the necessary qualifications. Given this, one can say that product management is one of the best courses for commerce students to pursue after 12th grade.

15. CPA or Certified Public Accountant 

Certified public accountants for companies, customers, and the government manage accounting, reporting, taxes, and auditing procedures. They provide enlightening information about behaving sensibly with money when the risks are great. 

It is among the highest-paying professions for commerce students in the US and worldwide. The AICPA is responsible for administering the CPA exam.

Finished your BBA and exploring what’s next? Unlock a world of opportunities with our guide on career options after BBA to navigate your professional journey ahead.

16. Industry Oriented Integrated Courses

Scope for commerce students in industry-focused jobs in India are many. Various industry-focused courses on the market are available, including integrated BBA-CA, integrated B.Com, integrated BBA-IB, and integrated BBA. 

These professional courses in commerce adopt an industry-centric approach to education, whereby industry perspectives are considered throughout the subject matter.

17. Investment Advisor

Investment advisors is another commerce group courses that counsel their clients on which stocks to buy in the stock market to minimise losses. They oversee their clients’ assets. This is one of the high-level positions in the business sector where a college degree is not necessary for the professional. 

To enrol in the Investment Advisor certification program, candidates must pass the CFA or NISM exam. Additionally, they must be registered with SEBI, India’s Securities and Exchange Board. 

18. CFA or Chartered Financial Analyst

A certified professional who attests to a financial analyst’s competence is called a chartered financial analyst (CFA). In the realm of investment analysis, they are regarded as the gold standard. You must clear the three exam levels to enrol in the CFA courses. 

The CFA exam is open to graduate professionals who fulfil the requirements. An international passport and residency in one of the participating countries are prerequisites for taking the exam. 

19. Actuary

What can a commerce student do after 12? If statistics, arithmetic, and business management are your strong suits, you can easily break into this industry and make a meaningful contribution to the commercial world. Financial modelling and risk analysis related to property damage, disability, or other potential issues that could affect the organisation may be part of your daily tasks. 

One of the greatest jobs in business is becoming an actuary; besides being extremely versatile, it also allows you to work for a well-established company or on your own.

20. Media Science & Graphic Designing

These two are among the best courses for commerce students or commerce stream career options who possess the ability to comprehend and produce visually appealing designs. Graphics are particularly well-suited for graphic design courses and multimedia. 

In the long term, it may turn out to be a very fruitful strategy with excellent returns. To become a valuable graphic designer in today’s world, you need to be knowledgeable about the specifics of digital media. After 12th commerce, this is among the top professional courses for commerce students available.

If we take commerce what are the career options? Students can apply for it immediately following +2. There are various advanced curriculum programs in graphic design, including certificate programs, diploma programs, undergraduate programs, and doctorate programs.

As a result of the widespread usage of digital technology, job openings are abundant nowadays. Jobs as graphic designers, web designers, photo editors, film editors, architects, and engineering drafters are all available to you. Additionally, user interface designers and flash animators work for several agencies.

All businesses need graphic designers, whether they are e-learning providers, advertising agencies, or small publishing houses, to polish their material and distribute it across many platforms.

A broad summary of the subjects taught in the graphic design professional courses in commerce is as follows:

  • Principles Of Management
  • Digital Publishing
  • Background And Concept
  • Sound Recording
  • Flash And Scripting For Web
  • 2d And 3d Animation
  • Language Planning
  • Portfolio Development
  • Fundamentals Of Graphics Designing And Multimedia
  • Visual Communication
  • Typography And Generic Skills
  • CAD (Computer-Aided Design)
  • Animation
  • Visual Effects
  • Sound Principles
  • Team Management
  • Multimedia Authoring and Others.

21. BDes in Design

The Bachelor of Design (BDes), sometimes known as BDesign, is a well-known undergraduate design degree. Fashion design, interior design, accessory design, textile design, and many other specialisations are among the many options for a four-year, full-time program that leads to a B.Des degree. 

Various design specialisations, such as multimedia design, visual communication, graphic design, visual effects design, and game design, are currently offered under the BDes degree, which has evolved over time.

22. Retail Management

Retail manager salaries are sometimes among the highest in the industry, making it one of the fastest-growing occupations. A retail manager keeps up the running of a store. They keep in constant contact with the clients while attending to the demands of the workforce. 

Professionals with a background in retail management courses are knowledgeable about consumer acquisition strategies, retail philosophies, and brands.

23. Strategic Management

To effectively manage one’s career, strategies and actions must be developed and put into action. This is known as career strategic management. Taking charge of one’s job destiny and making decisions that will result in a fulfilling and prosperous career is what it entails. 

Given your PMP certification and training, this is the position you will most likely hold as a future strategic project manager.

24. Aviation Courses

Individuals who aspire to become air hostesses, cabin crew, or commercial pilots enrol in these courses. You will be able to become a professional in aviation by gaining the necessary abilities through the practical knowledge gained from these courses. As early as sixteen years old, you can choose these courses. 

25. Side Courses for Commerce Students

Side courses after 12 commerce are short-termed courses a candidate can pursue while pursuing their current degree. These side courses after 12 commerce are heavily skill-emphasized and prepare learners to bag opportunities in the real world through applicable skills. Side courses for commerce students can be great to enhance already attained skills and gain an edge over other candidates. 

Here are a few side courses after 12th commerce:

  • Diploma in Advanced Accounting: A diploma in advanced accounting is a four-year course after 12th commerce, preparing candidates to pursue accounting roles in the future. The course covers advanced accounting operations to achieve proficiency in topics like mergers, currencies, acquisitions, financial statements, lease contracts, funds, etc. These skills offer eligible candidates jobs after 12th commerce such as accountant, financial advisor, tax advisor, or budget analyst to help people make financial decisions.
  • Certificate in Banking: Certification in banking is a course that usually spans six months to a year, helping students to bag positions as financial or banking professionals. It is one of the best courses after 12th commerce that offers industry-relevant skills to learners aiming to boost their careers for lucrative jobs. Such side courses for commerce students imparts knowledge about the banking sector and its organs, such as tax regimes, policies, funds, history, current scenario of banking instruments, etc. 
  • Diploma in Retail Management: With the rising trends and opportunities extended to the retail sector, many candidates are inclining toward job opportunities in the retail sector. A diploma in retail management makes it possible through its comprehensive course structure, including the fundamentals of retail management, market details, segmentation, merchandising, retail pricing, operations, and customer management, preparing learners to win the potential jobs after 12th commerce heads on.  
  • Certificate in Entrepreneurship: Growing entrepreneurial talent in the nation demands skilled candidates to take on the role and expand it towards success. Instead of entering the field inexperienced, a certification in entrepreneurship can help kickstart your business journey. The course offers fundamentals and advanced concepts of managing business ventures through inter and intra-personal skills. The course curriculum includes structured experiments, market assessment, raising capital, engagement with potential investors, and intricate operations, helping your business evolve over time. 
  • Certificate course in Advertising or Marketing: Establishing a place for your brand among competitive brands can be tiring when you lack the right skills and tools. Certification courses in advertising or marketing prevent a lack of insight in extending the right tools and strategies to deliver quality marketing schemes and win over customers. The certification covers online and offline marketing instruments to help candidates gain proficiency in both aspects.

Following are some of the best Professional courses for commerce students.

Courses Offered by upGrad

There are various certifications in varied fields that are tailor-made to formulate a thriving career. It provides for the development of skills and expertise required with each industry.  These courses concentrate and aim to prepare the student’s career by training them in talent sessions, aptitude tests as well as interview preparation. 

Data Science

upGrad is offering the country’s leading program- Executive PG Program in Data Science from IIIT-B. Chief Data Science faculty and professionals in the industry will be mentoring you in this course.

Learners wondering what to do after 12th commerce and has interest in tech, it’s a twelve-month program designed specifically for students who have completed their Bachelor’s degree, and are determined to drive their career further in the field. The course offers the best training in knowledge and expertise on Data Science modules (like Statistics, Databases, Business Problem Solving, Cost Modelling, Advanced-Data Visualization, Big Data, RevenuePredictive Analytics using Python, Machine Learning and Finance, etc.).

Data scientist profile is now one of the most coveted professions that are in demand by big corporations and startups as well. The PG Diploma is from the IIIT-B and comes with five specializations from which you can choose the one that best suits your educational background & work ambitions. The course provides opportunities in career-growth options like Data Analysts, Machine Learning Engineers, and Data Scientists and assists with job profiles in Top Firms.

Digital Marketing

upGrad, with India’s top university in marketing, MICA, has come up with the Advance Certification in Digital Marketing and Communication

Students with a Bachelor’s or an Equivalent Degree are qualified for the course. On the program conclusion, you’ll get the Post Graduate Certification from MICA and upGrad certificate along with a certificate from Facebook, in Growing Business with Facebook.

Industry professionals and instructors from the best university in the industry will mentor you on topics like Branding, SEO, SEM, Marketing Analytics, Content Marketing, and Social Media.

This curriculum has three different Customised Tracks for Sharper Outcomes- the Executive, Management & Leadership Track.

It’s a twenty-six-week program explicitly designed for students who have completed their Bachelor’s degree, and are resolute to manage their career notably in the field. The course offers the best education in information and expertise for job opportunities like  Media, SEM Manager, SEO Specialist, Digital Marketing Manager, Social and Content Manager.

Check out the digital marketing job opportunity after getting the course done.

Full Stack Development

To help you leap towards your dream of becoming a Software Developer, upGrad has Executive PG Program in Full-Stack Software Development course.

On completing the entire eleven-month program, you’ll be certified with Post Graduate Diploma from IIIT Bangalore and receive the university’s Alumni status. The best of the country’s Software Engineering faculty and Industry leaders will be mentoring students with skills like Rich & Interactive Web UI Backend APIs and Build Robust and Scalable Websites.

BBA

At upGrad, we have mentored thousands of students from across the globe for different courses and careers. Checkout our degree courses offered by upGrad in association with top universities for motivated students like you looking for state-of-the-art BBA courses after completing their 12th.

Check out our course page and know all about the syllabus, features, fees, and more!

Choosing The Best Commerce Course After 12th: Learn How

When you talk about the scope for commerce students there are numerous things to consider. Among the crucial elements while opting for courses after 12th commerce are: – 

Job Objectives

Which job aspirations do you have in mind? What we can become by taking commerce, what type of work are you hoping to have? To select the best courses for commerce students after +2, be sure the course or career for commerce students will assist you in reaching your objectives.

Study Topics In The 12th Grade

In the 12th grade, what subjects did you study? You might want to think about pursuing a professional courses after 12th commerce in that field if you do well in that particular subject. 

The Length Of The Course

Is the course duration? Is the course offered full- or part-time? Verify if you are able to dedicate yourself to the entire course. 

Tuition Fees

Are the course fees affordable for you? Make sure all of the expenses related to the course, including textbooks, supplies, and lodging, have been considered. 

Location

Understanding the location of the course is crucial to selecting the finest courses after commerce 12th grade. Check if the course is available where you wish to study if that is a certain city or nation. 

Institution’s Status

How well-known is the organisation that is providing the course? Make sure to investigate the school and peruse testimonials from former enrollees. To lay a strong foundation, you can choose to enrol in the best courses for commerce students after completing your +2. 

Conclusion

If you were wondering what to do after 12th commerce or searching for IT courses after 12th commerce, these are the top career options for commerce students to get high paying commerce stream jobs. Students often find themselves in a dilemma to select the best curriculum for their career plan. Courses after 12th commerce are plenty but choosing the right makes or breaks everything. We believe that your question of which career is best for commerce students is answered by now.

The scope of commerce or IT courses after 12th commerce  is satisfactory. With various options in Accounting, Finance, Engineering, Marketing, or Business Administration, you should first work on your interest after plus two commerce courses, decide the career path and then select the best career in commerce that agrees well with your plan onward. Before selecting after plus two commerce courses, find the salary range, eligibility, skills required and institution. 

We hope you liked our article about the best career options in commerce. If you need career guidance, you can talk to our student counsellors.

Frequently Asked Questions (FAQs)

1. What is the roadmap to be a Chartered Accountant (CA)?

A Chartered Accountant manages budgets, files audits, does risk and tax planning, prepares financial statements, and provides financial advice. The journey to becoming a CA is not easy. It requires much hard work, planning, and mastery in accounting, auditing, tax management, etc. To complete the course, one has to go through 4 stages. The first stage is CPT (Common Proficiency Test) which tests candidates on accounting, Quantitative Aptitude, Mercantile Laws, and General Economics. After passing the CPT, candidates must write IPCC, which consists of 7 papers. Then, they proceed with articleship. Candidates must gain 3 years of practical experience by working at a firm. The last stage is to pass the final CA exam, after which a candidate can register with the ICAI and formally receive the designation of CA.

2. What are some of the opportunities that B.Com. graduates can look for?

Bachelor of Commerce is a course that covers subjects like finance, accounting, banking, economics, and tax laws providing a wide range of opportunities to B.Com. students. B.Com. graduates have the potential and knowledge to become Chartered Accountants (CA), Company Secretary (CS), Financial Risk Managers, etc., in various organisations. They can also pursue higher studies like MBA and M.Com. They can also look for a career in investment banking and account management. Their salaries range from INR 2.8 LPA to INR 18 LPA based on their profession, experience, and expertise in their respective fields.

3. What are the roles and responsibilities of a CS?

A Company Secretary is part of the Institute of Company Secretaries of India (ICSI). They hold one of the senior-most positions in a company's management and have a significant say in a company's decision-making. They maintain the company's accounts and conduct audits before filing the Income Tax Returns. They advise the Board of Directors on the risks and profits of taking a particular decision. A company secretary ensures that the company abides by the rules and regulations. They are also responsible for planning and organising meetings, giving promotions, raising funds for the company, etc.

4. Why do people study commerce after class 12th?

Those who wish to pursue business or go ahead with studies related to business later on in their career generally prefer to study commerce at the graduation level. But there can be many other reasons for candidates to choose this stream of education after they complete school. Studying commerce helps develop core business skills and a keen understanding of economics and its influence on businesses. It also enhances their critical, analytical thinking skills and financial data interpretation abilities, which are essential if you want to set up your own business. Those who want to become a CA, a CS, or a CFA also opt to study commerce.

5. Is MBA easy after studying B.Com?

Students from all streams of education can be equally at ease studying MBA. However, commerce students are in a slightly advantageous position comparatively because there are certain similarities in the subjects taught and electives offered in B.Com and MBA. So if you have completed your B.Com, you will find it easier to align yourself with the curriculum of the MBA program than other students who have completed their graduation in Science or Arts streams. This is especially true in the case of an MBA in Finance, which is mostly opted for by commerce students. However, that does not mean Science or Arts students do not study MBA in finance.

6. Should you choose commerce or Arts?

Whether you choose arts or commerce should depend on what you are passionate about and your vision for your career path. If you are interested in literature, art, crafts, language, music, photography, films, or history, you need to study Arts at the graduate level. On the other hand, if you wish to study Chartered Accountancy or Company Secretary, commerce should be your subject of choice. If you are comfortable with numbers and have a keen interest in matters of business, studying commerce will be a better option. Additionally, if you are a creative person interested in visual media, Arts will be a more prudent choice.

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Nitin Gurmukhani

There is no better service to society than helping voluntarily. Grammarly fan, random reader, and an avid learner.

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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

898.94K+

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