Predictions are that the world will end in 2012! But on the off chance that that doesn’t happen, what careers can you aspiring young people look forward to? MYOD after all its research and talking to experts, figured the best thing to do would be to present you with the jobs that the market acknowledges, will see most growth in the second decade of the 21st century. In the following pages we bring you a listing of jobs and job roles that are expected to be big in the coming years. Whether they are for you, we leave to you to decide
1) Touching the sky
With India experiencing an average of around 8% per
annum growth in the past decade, the demand for
finance professionals is reaching new heights. Shruti Mittal reports
The financial sector is considered to be one of the key strengths of India as it supports huge levels of investments and promotes economic growth. Due to its growing importance, the jobs in this field are as diverse as they are significant.
The Indian financial system is characterised by two major segments - an organised sector and a traditional sector (informal credit market). In the organised sector, business organisations cater to the needs of financial services of the common man. Financial institutions with specialised services are classified as banking and non-banking entities.
According to a Ma Foi Randstad Employment Trends Survey (MEtS), India is expected to add 80,700 jobs in the organised sector of its financial system and grow at a rate of 8.9% in 2011. Another report by MEtS revealed that Banking, Financial Services and Insurance (BFSI) added 14,800 jobs between June and September 2011, and will continue the good show and is expected to add another 11,900 jobs between October and December 2011.
The growth of micro-finance industry, insurance sector and the increase in bank credit to the commercial sector are some of the factors that are fuelling the growth of this industry. The stable and positive sentiments on the economic front and greater efforts towards financial inclusion have helped the BFSI sector to grow.
With the ever increasing population and swelling demand for services by people, the financial sector is witnessing unparalleled growth. On the same lines are the jobs in the sector which are not only financially satisfying, but also provide professional satisfaction because of highly competitive environment.
Five prominent job rolesBroking
A broker is a person that acts as a link between a buyer and a seller. There are various roles in the financial sector where a broker can make good money. Roles such as forex broker, insurance broker, investment broker, stock broker etc.
Investment bankers are individuals who advise their clients/ organisations on high level issues of financial investments. They are responsible for executing strategies for mergers and acquisitions, managing the issuance of bonds and handling the company’s stock. An individual needs to possess strategic skills, be perfect at financial analysis and should also be able to help clients develop financial plans and implement them.
Private equity/Venture capital
The role requires strategic skills to set goals, preferences and investment strategies so as to provide working capital to a target company for expansion, product development, or restructuring of the company’s operations, management or ownership.
An ever increasing population means the insurance for them comes into strong focus. Whether it’s life insurance, vehicle insurance, medical insurance, home insurance etc., most have varying levels of importance. Secondly, with the entry of private players, the sector has witnessed exceptional growth. Also, the increase in disposable incomes of people has accelerated the need and demand of insurance. In times to come, selling insurance will be a very lucrative career option.
In this era of competition and business innovations, the need for commercial and financial masterminds is on the rise. The corporate sector today needs efficient CAs who can manage their balance sheets and keep the Income Tax department at bay. The sky is the limit as far as as salary packages are concerned here.
Institutes offering courses
• Institute for Financial Management and Research, Chennai
• National Institute of Business and Studies, Delhi
• The Institute of Chartered Financial Analysts of India, Delhi
• Indian Institute of Finance, Delhi
• Indian Institute of Banking and Finance, Delhi
“We have been insulated but need to be careful”
The financial services sector has witnessed visible growth in the last two decades in India. Depsite the financial crisis, it is still generating jobs for young people. Chandan Sinha, Regional Director, RBI expresses his views on the future of the finance sector in an interview with Shruti Mittal
How lucrative are jobs for students seeking to make a career in the financial sector?
Finance is one of the extensively growing sectors as it is concomitant to developments in the real economy. So, when the real economy is doing well, the financial sector also does well. The disposable incomes are increasing and hence the need for investment and consumption also increases. The growth in our financial sector and its fate is linked to developments on the global stage as well. Something we have seen in the global economic crisis of 2008. So, when organisations and banks have less to do, they cut down on jobs. This is something we should be aware of. So far, we have been insulated but if we think globally, which we have to because many Indians work abroad, in the finance sector currently there is an issue and we have to be very careful.
You think this revisiting of recession will have an effect on India as well?
It will come to India but it is mutate because our dynamics are different. Extent of openness is much less as compared to some of the other countries. Secondly, we have huge domestic consumption and investment. So to that extent we are insulated. But again we are not totally isolated. There will be an impact but it won’t be gigantic.
Will recession have an adverse effect on job generation?
It will to some extent. We saw it last time. Students passing out of management institutes were not getting placements or not getting as lucrative placements as they are used to and expect. The hiring gets reduced. What doesn’t happen in India is that not many people are given the pink slips, which is very common abroad because we are still a growing economy. We are in a much better position and have earned some sort of stability if we compare ourselves with other countries as per global standards. Our growth varies from 7.5% to 8%. We don’t need to worry much because growth creates its own demand. Secondly, we have an issue of financial inclusion.
Will Foreign Direct Investment (FDI) in the retail sector help in generating jobs in India?
FDI in the retail sector will definitely open doors to new employment opportunities, like that of logistics support, back office jobs, front office jobs etc. Jobs in higher segments will also see some light but only in the centralised operations. People will come into the Indian market with a whole lot of money and expertise because we have our own local large corporate retailers at almost similar standards but not on that scale. It won’t be that easy for the foreign players to get into the market because it will need a lot of investment to start with. They may not or will not make money initially.
Will FDI help reduce the commodity price?
At the retail level the cost will definitely reduce because they will cut down on several levels. Foreign players will come in with lots of efficiency. There are 5-6 levels before a product reaches its consumer and every level adds a markup. So, these new breed of retailers will directly tie up with the consumer.
What are the challenges that the financial sector is facing?
The biggest challenge that our financial sector is facing is the fact that Indians are not moving as much from the physical assets to the financial assets like real estate, gold, etc. They don’t buy equity. This is something we real need to work on. We need to have policies to encourage people to invest in financial assets. There is slower transition because once it starts happening, there will be growth. The movement is taking place but it’s very slow. We need to sensitise people with the benefits of the financial assets so that they start making investments in mutual funds, equity and other financial assets. Government and public authorities need to work a lot on it. For that matter RBI and SEBI have been working hard on financial literacy either through campaigns or through tie-ups.
What kind of growth is the sector set to witness?
India is expected to have high growth rates given our demographic dividends. We are growing at 8-9%, which creates demand and need for more financial services. Our trade will be higher. Integration with the global economy is going up, our corporate sector will need funding, partly domestic and from outside. So, when foreign money comes in, it creates lots of financial services. Indian companies are also investing abroad. Potential already existed but some of it is being crystallised now. Opening up of the economy and demographic dividend will act positively for us. We are also focussing on infrastructure. IT and outsourcing are also the real sectors. Incomes have gone up. Production and productivity will increase. Presently, the situation is quite favourable for us.
2) Key to economic growth
This is one field where India has rightly found a place for itself in the world. IT services are still a growing field in India and the opportunities immense as Shruti Mittal discovers
If there’s one industry that had very humble, if not doubtful beginnings but has now metamorphosed into a key driver of global economic growth, it has to decidedly be, the IT industry. Economies of scale and insatiable demand from both consumers and enterprises characterise this rapidly growing sector. The industry can be credited with being the major growth catalyst for the Indian economy. It is also responsible for increasing presence of Indian professionals in the overseas market.
According to a report by NASSCOM, the IT industry in India is poised to become a US$ 225 billion industry by 2020. In 2011, the sector is estimated to have grown by 19 per cent, registering revenue of almost US$ 76 billion.
Growth creates its own demand and employment opportunities, which can be attributed to strong economic growth, advancement in technology infrastructure, competition, increased attention from the government and technology adoption by the consumer. According to a McKinsey report, India accounts for more than two-thirds of IT services, imports to developed countries from developing countries, and Bangalore, a city of 5.5 million people, accounts for just more than a third of it.
The sector has given Indian youth the opportunity to earn while sitting at home. School students and college students are raking in the ‘moolah’ sitting at home hunched over their PCs, laptops and MacBooks.
Five prominent job roles
Security specialist/ ethical hacker
Companies falling prey to hackers or experiencing data breaches is getting common with every passing day. Here is where the ethical hacker comes in. An ethical hacker is a computer professional who attacks the company’s own security systems (with permission from the company of course) to see where it has flaws and breaches so he can work to strengthen them.
Virtual systems manager
A virtual systems manager takes care of virtual servers that make up the computing environment and automation, which is responsible for the cloud being monitored, managed and secured. Besides virtual servers, they are also responsible for handling things on the conventional networks. They help in minimising the risk of catastrophic systems failure.
A software developer’s work includes programming, researching, designing, developing, software project management and testing software. They are vital constituents of a company and should possess sound programming skills. Encoding and decoding is the only mantra of their profession.
Technical support professionals monitor and maintain the computer systems and networks in an organisation. They are of sole importance because they act as the tool bar for things that may go wrong in a computer. They may install and configure computer systems, diagnose hardware/ software faults and solve technical and applications problems.
Database design and development
A database designer is responsible for preparing a comprehensive data model for the database, which is designed keeping in mind the storage and management requirements. The job profile further includes support and maintenance after its implementation and deployment.
Institutes offering IT related courses
• Indian Institutes of Technology (IIT)
• Indian Institute of Information and Technology (IIIT), Allahabad
• Delhi College of Engineering, Delhi
• BITS, Pilani
• Institute of Technology, Banaras Hindu University, Varanasi
‘‘IT will continue to grow as a field of excellence”
Hemal Patel, CEO of Elitecore Technologies, shares his views on the growing IT sector in India with Shruti Mittal
Jobs in the IT sector are most sought after by the youth. To what extent has the growth in this sector affected the job generation scenario in India?
The IT industry has seen phenomenal growth in recent years. Being an IT product player, we are currently seeing huge interest among today’s youth in working in an innovative R&D-based company. The job creation has been affected in the following ways:
Direct job creation: As companies invest, effort in software development takes place. Jobs are created to support not only the software industry, but also areas such as product support, pre-sales and more. This is true for Elitecore products like Cyberoam security appliances where we have recruited professionals with a firm background in engineering and product development. They render their expertise in various job departments. There is a great demand for professionals who can go beyond coding, to have out-of-the-box ideas and develop solutions to evolving customer needs.
Indirect job creation: As software product development becomes the mainstay of next-generation IT companies, allied industries are also expected to create more jobs to cope with the demand generated by it.
What according to you have been the defining trends in the IT industry in India in the last two decades?
The Indian IT industry has registered huge growth in the last 20 years. Today it accounts for a significant percentage of its GDP and export earnings. Some of the defining trends in this time period are as follows:The arrival of IT product companies: From its initial reputation as a worldwide hub for ITES-BPO services, today we have several examples of global IT product companies from India, building innovative solutions in different areas of expertise – ERP, Banking solutions, Telecom, Network Security and more.Shift from earlier dependence on the US market to emerging markets in APAC/Europe.
The IT Industry has played a major role in placing India on the international map. What is your point of view?
Indeed, the IT industry in India has been responsible for making Indian professionals a force to reckon with on the global map. IT exports accounted for 10% share in the total exports. The IT industry has created over two million jobs and brought immense recognition and prestige to India’s educational institutes which supply global companies with high quality of IT manpower. Our biggest achievement has been that we have successfully challenged the notion that a globally renowned IT product company cannot be created in India.
What kind of growth do you think we can expect in the coming years?
IT product development will be one of the major growth areas in future. We all know that Indian companies have been receiving these projects because of the talent pool we have. Of late, IT product firms have started focussing a lot more on developing business models and focus areas, thereby, putting money in the right places, investing in the distribution system (channels) and fuelling demand by making software affordable and available.
IT is one of the most flourishing sectors in the country’s financial system and the ferocious expansion makes it more interesting. Will we be able to stick to this speed?
Yes, we do believe that IT will continue to grow as a field of excellence in the near future. Becoming a global IT product, innovation is crucial in this journey. To foster growth in India’s software product economy, it is pertinent to see that Indian companies continue to increase customer confidence and enhance the quality, reliability and scalability of their products.
With the rising costs, do you think that India will be able to maintain the position of a preferred destination for companies looking to offshore their IT and back-office functions?
The fear of not being able to sustain due to rising costs is unfounded. Firstly, India has a vast, untapped talent resource pool in major IT hubs like Bangalore and Mumbai where the cost of operations is less compared to the metros. The challenge for IT companies is to tap into talent pools wherever they exist and ensure world-class operations from there.
Internet security has always been a matter of concern. Is there a solution to this grave problem?
The network security scene is growing wider in scope in India because security threats are getting more serious. Despite the prevalence of dangerous threats, both small and large companies lack the resources to effectively handle security issues on their own. Demand for integrated security solutions is rising. The Unified Threat Management (UTM) market is recognised as the fastest growing segment of the network security market which in the past was dominated by multiple systems like firewall/VPN products, spam blocker, content filtering solutions and more.
Nowadays, the growing trend is for these diverse security functions to be integrated into a single UTM appliance offering bundled protection with best-of-the-breed security features. These security capabilities are further managed from one GUI console, with centralised logging and reporting for a drilled-down overview into the current network security state.
3) A healthy outlook for healthcare
The field of medicine is now so much more than just medicine. It includes non-medical roles which are as important as the medical ones. Shailaja Mukherjee takes a look at what’s available for the prospective employee in the field of healthcare
A recession-resistant industry with ever growing job opportunities, healthcare is the only industry that has continued to add jobs even during the economic meltdown.
Dr. K.S Srinivasa Rao, Director of the Institute of Health Management Research says, “10 of the 20 fastest growing occupations in India are healthcare related. The industry is expected to generate 3.2 million jobs by 2018 making it one of the largest growing industries.”
In 2008, healthcare alone provided 14.3 million jobs. Increase in healthcare jobs is a direct result of the rapid urbanisation, increased work pressure, fast food becoming a substitute for major meals, reduced immunity levels and the lack of physical activities these days.
Dr. Rao explains, “Unlike 10 or say 20 years back, patients are also more educated and aware now. They have become more careful and cautious and are concerned about both their physical and mental health. They want to be assisted and guided properly before they undergo any treatment, which in-turn generates ample job opportunities, especially in entry level clinical roles and in non-clinical support roles apart from the regular verticals of medical practitioners.”
Be it an infant or a terminally ill person, the healthcare industry works around the clock. Combining technology and human touch, the industry is witnessing rapid growth. Responsible to diagnose, treat and administer needs of millions of people, it is a sector which is constantly expanding.
Dr. Y K Gupta, Professor and Head of Department of Pharmacology, All India Institute of Medical Sciences says, “The majority of establishments are that of health practitioners, general physicians in nursing or dentistry. But with technological advances, new jobs and roles have been generated in the sector. To name a few from the endless options, the industry offers opportunities in food and nutrition, genetic counselling, tertiary care, pediatrics, medico-legal services and health insurance too.”
Technology has brought about many new methods of diagnosis and treatment such as less invasive surgical techniques which have created more job opportunities. Not just in India, but there is a huge demand for qualified professionals on the international front as well. Healthcare has transcended beyond medicine with rapid privatisation and urbanisation.
Five prominent job roles
They shoulder the major responsibility of diagnosing and treating diseases or an ailment. They recommend medication, conduct a surgery and suggest the required therapy. There are endless fields one can specialise in, ranging from a surgeon, psychiatrist, nutritionist, dentist, speech therapist, neurologist or a pediatrician.
They may not have a scalpel or a stethoscope in their hands but they play a crucial role in managing hospitals and clinics. They integrate and coordinate all the activities of the different medical departments. From assisting people in finding a particular department, to data processing; they manage both the front desk and the back-end processes. It is one of the hottest emerging roles in the sector.
A lab technician, ultrasound technician, pharmacist, athletic trainers, nurses etc. are a few of the health technologists who perform their jobs under the supervision of an expert physician and assist them in their work.
Maintaining records is one of the major components of any industry and when you are dealing with thousands of them daily, it becomes crucially important. The work profile includes recording and preparing transcripts of the patient’s medical records. This streamlines work, saves time and reduces errors caused by illegible handwriting.
It is a combination of medicine and law. A medico-legal advisor helps in defining the extent or level of medical damage and helps people claim compensation for it. They give advice in legal matters related to medical audit, insurance settlements, document management and forensic pathology.
Institutes offering courses
• All India Institute of Medical Sciences, Delhi
• Institute of Health Management Research, Jaipur
• Institute of Medicine and Law, Mumbai
• Apollo Institute of Hospital Administration and Nursing, Hyderabad
• Indian Institute of Medical Transcription, Delhi
4) The best 'bait'
There’s no point your product being good if you can’t market it and sell it. The central message of marketing is what is attracting a lot of young people towards it, finds Shailaja Mukherjee
Marketing is all about the 4Ps; Product, Price, Place and Promotion. It is about meeting needs profitably. Over the past 20 years, marketing has evolved from the basic customer-and-market driven practice to the fundamentals like brand equity, e-commerce, supply chain management, viral marketing and integrated marketing communication.
In 1991, then Prime Minister P V Narasimha Rao opened up the Indian economy to the rest of the world. A big bang of commercialisation and consumerism took the Indian market by storm. Anurabh Varma, Assistant General Manager, Marketing at Capital Harley-Davidson says, “Gone are the days when a consumer knew what he had to buy.
Today, the aggressive bombardment of marketing push by companies influences his purchase. Earlier there were fixed organisational charts that companies used to plagiarise from each other; today no rules exist as such. Globalisation and internet marketing across various sectors has given people multiple choices to pursue their careers in.”
In the early 90’s, the first international exposure on television came through MTV and Indian youth saw for the first time what western culture was like. It had a deep impact on the popular culture amongst school and college going children. Demand for international clothing and accessories opened new avenues for marketers to explore.
“The increase in disposable incomes of graduates across various socio-economic categories has meant that the economy is experiencing not just a horizontal and vertical stretch, but also multiple job opportunities in marketing are opening up,” adds Anurabh.
Sibichan Mathew, Professor of Fashion Management Studies at the National Institute of Fashion Technlology (NIFT) says, “Whatever be the organisation’s size and growth, it is marketing that matters.” Similarly Arpita Ghosh from Aon Hewitt Consulting Services says, “Marketing has stretched from FMCG and Finance to sectors like education, entertainment and insurance, and offers innumerable job opportunities.”
In the past two decades, there has been a clear shift from managing product portfolios to managing customer portfolios. A holistic approach starting from design, development, relationship building, to brand building and core competencies has led to a colossal growth in marketing.
Five prominent job roles Marketing executive/ Marketing assistant
An entry level position, the marketing executive is responsible for the day-to-day activities of the organisation. He has to regularly interact with an account (client) and has to have excellent people skills.
They position and develop the marketing efforts for a particular company and are mainly responsible for coordinating all the product/ service centric processes, namely sales, distribution, advertising, promotion, R&D and accounts. A marketing manager handles the pivotal role of managing the operations of the entire marketing department while keeping brand building as the central focus. They establish marketing strategies, evaluate market conditions, threats from competitors and make changes in the marketing plan if required.
More of a field job, the role includes researching the current status of products/ services and customers’ perceptions of a product in the market using various primary and secondary research methods. And thereafter, analysing and interpreting the data. This role is very crucial as the marketing plan is devised based on the research data.
Public Relations Officer (PRO)
They are the spokespersons of a company and are required to publicise the firm by various promotional activities. From planning, management, execution to preparing press releases and presentations, they may handle multiple roles.
Chief Marketing Officer
They lead marketing operations, sales operations, manage partnerships and work for customer retention. They take care of the company’s media and industry relations as well as handle and direct all the client interactions. They may also head the advertising activities and are responsible for merchandising, electronic and print promotions and may also handle web sites and social media activities.
Institutes offering marketing related courses
• Indian Institutes of Management
• Faculty of Management Studies, Delhi
• Jamnalal Bajaj Institute of Management Studies, Mumbai
• S. P Jain Institute of Management and Research, Mumbai
• Institute of Management Technology, Ghaziabad
5) Services to the customer
A far cry from the government run hotels and resorts of the yesteryears, hospitality in India has a new, fresh face. Ritika Prabind takes a look at the hospitality sector to see what’s in store in the coming years
A service industry in its own right, the hospitality sector in India is growing by leaps and bounds. Globalisation and a constant flow of tourists and business people into India have necessitated a new kind of hospitality professional. One in tune with international standards and able to service both international and domestic travellers’ needs.
Being the biggest service sector in the country, its total contribution to national GDP is 6.23% and it generates 8.78% of total employment. The sector is divided into three sub-sectors – hotels and resorts, casinos and cruise lines.
There is tremendous job potential in the industry thanks to both the government and private players. With the government allowing 100% Foreign Direct Investment (FDI) in the sector, there are at least 161 projects nationally in the pipeline which will generate job opportunities and along with it, demand for trained and skilled manpower.
Indian chefs and managers already have a demand in the Indian and overseas market. Virendra S Dutta, President, Executive Committee, Institute of Hotel Management (IHM) and founder of the International Institute of Culinary Arts (IICA) says, “Indian chefs and managers have great demand in the global market, especially on cruise liners. We need more and more trained chefs. We are lacking them now. There is a need of approximately 20,000 Indian chefs globally.”
Training is key though. The right kind of training can ensure a good future in the industry. “Training is a must for anyone who wants to work in this sector. This sector is all about pleasing the guest or customer. And one can only do this when he or she has the ability to understand the functioning of this business. One can get this ability only through training,” says Dutta.
The Institute from where the training is gained also matters a lot during placement. “One should try and get admission in a reputed institute to complete a hotel management degree, because during placement, the name matters a lot. The common industry belief is that anyone from a reputed institute is more efficient than others,” says Roshan Kumar of The Bristol, Gurgaon.
Five prominent job roles
Chefs are the head of the kitchen in any sector of the hospitality industry. Their careers are challenging and rewarding. They not only get the chance to do what they love, which is cooking and exploring new foods, but they also work as supervisors. They decide the food menu and oversee employees.
General managers are the principal people in charge in the hospitality industry. They take all important decisions about their workplace. They decide room rates, head teams and monitor income and expenses.
Also known as event managers, their roles require good organisational skills. They head teams and coordinate customers’ entertainment. They also ensure quality is maintained in the food and the beverages served in the hotel or restaurant.
With complete and up to date knowledge of the hospitality industry, they advice in the functioning of banquet operations, retail outlet management, reservation call centres, capital expenditure and other important areas.
They play a crucial role in the workings of this sector. They give practical training to the newcomers and joinees. It is their responsibility to get the new workforce acclamatised to the culture and environment of a new place. They ensure that the whole organisation works efficiently in the hands of the new workforce.
Institutes offering courses in hotel management
• Institute of Hotel Management, Catering & Nutrition, Pusa, New Delhi
• Welcomgroup Graduate School of Hotel Administration, (ITC), Manipal
• Oberoi Centre of Learning & Development, New Delhi
• International Institute of Culinary Arts, New Delhi
• Institute of Hotel Management, Catering Technology and Applied Nutrition, Mumbai
Hospitality – the heart of travel and tourism
The diverse and dynamic hospitality industry is growing at a fast pace today. In an exclusive interview to Angshuman Paul, Keshav Suri, Executive Director of Lalit Suri Hospitality Group shares his views on the many exciting opportunities available in the sector
What are the major trends you are seeing in the hospitality industry of today as compared to five years ago?
I think the milieu started changing precisely two years ago when we were getting ready for the Common wealth Games. Today, it’s not only the coffee, but the aura also offered by the hotel that has become important. Today the guest needs both coffee as well as a great ambience. You will find a guest appreciating the awesome café and another guest criticising the coffee. That’s where the hospitality job becomes challenging. The hospitality industry is at the heart of travel and tourism.
The common belief is that to make it here, one has to go to hotel management school. Do you think this belief is changing when it comes to recruitment?
I believe well-known hotel management schools do create perfect talent that we require to run a hotel, but not all profiles in the hospitality industry can be created by a hotel management school. For example, if you are a highly skilled and confident communicator, you can do an excellent job in the corporate communication division of the hotel. So, even if you are from a mass-communication background, you still have big scope in the hospitality industry.
How differently is the hospitality industry perceived in India as compared to the indsutry in the western world?
The difference is not much, as India has emerged as a global destination. This is automatically reflected in the job opportunities available, but unfortunately not much has changed in the general exposure of parents. Majority of the parents do not encourage their children to enter the hospitality industry; it’s never the first choice. They encourage their wards to pursue traditional careers like medicine and engineering. They need to understand that hospitality is not limited only to the art of cooking, but there are also roles in areas such as hospitality-related law, marketing, event management or human resources.
What are the job trends one can expect to see in the coming years in the sector?
With competition coming in and changes happening in the tourism industry, there are many new job opportunities emerging. Such as you could start a business by becominga franchisee for someone. Apart from entrepreneurs, the coming years will also generate the need for specialists like food technicians, and hotel–interior managers. More and more businesses in areas outside the traditional field of hospitality are searching for hospitality expertise. These include real estate investment, asset and financial management, consulting, education or humanitarian organisations.
6) Converging opportunities
For generations of Indians used to broadcasts on Doordarshan and not too high quality cinema, the last decade has opened up the media and entertainment
industry like never before. Ritika Prabind
takes a look at what that means for aspiring professionals
The Indian economy is one of the fastest growing economies in the world after China with GDP growth rate of 7 to 9 percent annually. This growth has a direct impact on the Media and Entertainment industry in India.
Anand Pradhan, Associate Professor and Hindi Journalism course Director, Indian Institute of Mass Communication (IIMC) says, “When your economy is growing, entertainment and media industry will also grow along with it. Reason behind this is the resource of media industry, which is advertising revenue. And this revenue is coming because of the growing economy.” He explains, “65% of the Indian population is below 35 years of age. They are basically the consumers. And they are consumers of all kinds of goods as well as media products. So, that is why the media is growing.”
According to a recent FICCI-KPMG report, this sector is growing at an annual rate of 12-15%. This makes the media and entertainment industry one of the hottest employment generating sectors in the country. It’s a human resource intensive industry. One cannot generate content through machines. In other industries, one can create products with machines. But here, one needs people who can make TV or film or radio content.
Lots of jobs have been generated in this sector. “Looking at the potential, huge capital investment is made for both vibrancy and further growth. This is automatically generating huge resources like skilled and creative man power,” says Nilotpal Majumdar, Dean, Satyajit Ray Film and Television Institute.
It is believed that by 2015, the media and entertainment industry in India will grow at a compound annual growth rate (CAGR) of 14%, which will be worth Rs. 1,27,500 crores. The government has allowed 100% FDI in advertising and has liberalised the policy for 100% FDI in the film industry. Prasar Bharti is about to start FM stations in 210 new cities. New media or online media has become very popular among the youth and they are drawn to it as a career option.
News media houses are looking for bright interns. There is a great demand for intelligent and hard working people. Specialisation in a particular field will open new doors. Satish K Singh, Editor, Zee News, says, “In the present scenario, numbers are not that encouraging as such. But I am sure, that in future, there will be lots of opportunity. Extensive training in certain specialisations will provide good opportunity. Because specialised people are much in demand. In a few years, we will have specialised channels such as health and wellness, history and many more. These will require specialised people to work in them.”
Five prominent job roles
Native to news channels and newspapers, reporters gather information, take interviews, do research and write the story as well. Generally, they work on a specific beat such as crime, education, politics and many more. They are the main source of information in the news world.
Creative directors play a very important role in the media and entertainment industry. They can work as art directors, copy writers or as lead designers. They supervise their subordinates in graphic design, fine arts, motion graphics and other creative fields.
Also known as directors of photography, they deal with the technical aspects of the images in motion pictures. They take creative and analytical decisions at the time of pre-production and post-production both.
Editors are responsible for correction, abridgment and other modifications to produce error free content. They are equally important in every mode of this sector, whether it is written, visual or audio.
Visualisers play a very important role in the advertising sector. They convert the idea and imagination into viewable mode. Their role is very important to win over the customer. They make ads crisp and interesting.
Institutes offering relevant courses
• Indian Institute of Mass Communication (IIMC), New Delhi
• Film and Television Institute of India (FTII), Pune
• Asian College of Journalism, Chennai
• AJ Kidwai Mass Communication Research Centre, Jamia, New Delhi
• Satyajit Ray Film and Television Institute, Kolkata
In a candid chat with Ritika Prabind, journalist and academic Vartika Nanda, discusses the prospects of a career in the Media and Entertainment industry
The Indian media and entertainment industry has undergone a sea change in the last two decades. Post liberalisation and privatisation, various segments within the industry like films, television, advertising and print witnessed tremendous growth. Earlier, the public service broadcaster enjoyed monopoly in the sector.
The quality and content of the news has altered greatly in comparison to what it was before. Earlier the news content was crisp and very informative but the quality of presentation was not that appealing. However, TV serials like ‘Humlog’ and ‘Ramayana’ fetched good viewership as these serials were of family and religious orientation.
The new TV set up which emerged post liberalisation, more or less could be easily identified with young people. The setup was as experimental and innovative as any young mind would aspire to be. Eventually the new avatar couldn’t keep itself away from committing blunders. In the former setup, a 24 minute bulletin was divided into proper segments of national news, international news, sports news and weather. The kind of news that we get to see on 24 hour news channels is specialised in programming and repetitive. The change in news pattern requires brainstorming which we don’t see happening, unfortunately.
Going back to the basics, the definition of journalism that I knew of since my college years was - ‘journalism is hard work minus money’. Over time, youngsters started looking for instant fame, money and glamour in TV journalism. The new generation presumes that television media is a space where one gets everything readymade and handy. But a job in television media is not only about broadcasting oneself on TV and gaining publicity. Behind the glamour attached to this profession, there is a lot of hard work involved. One needs to put in long working hours, night shifts and deal with constant pressure of a daily beat.
Apart from TV journalism, there are other job profiles in the media sector such as radio jockeys, actors, musicians, dancers, video technology creators, media managers, accounts planning, cameramen, editors, soundmen and public relations officers. Among these, some are high profile jobs that are in constant public glare and can help earn big money.
In the past few years, a lot of discussion has been centered around community media. In India, it took shape after the Tsunami disaster in 2004. Students aren’t aware of community media because it is still not a major part of media studies and the curriculum. I believe this sector has immense potential to grow in the near future. It will open the space for citizen journalism, public discussion, as well as job opportunities. Taking up a job in this segment can also be challenging because it is less sponsored.
The films and TV serial industry is another growth sector. India is producing maximum number of films in the world. There are many areas and segments one can pitch in. New media or online media is lucrative. While attending a seminar, I was informed that the number of Facebook users is equivalent to the population of three most developed countries of the world. It has become a platform for young people. Every TV channel and newspaper has an online presence. It is quite evident that the youth spends a lot of time online and prefers to read stuff available on the internet.
The growth of media is seen not only in metropolitan cities but in small towns as well. Initially, students from the remotest areas could not avail job opportunities within their geographical reach. Now a number of regional and local channels operate in every state of India. Opportunities lie in these channels as well. Many renowned personalities in the media started their initial career in a local channel and rose to a good platform with experience. TV channels often hire interns and a number of them come from rural and small towns. The urban elite class had this notion that they held an edge over students from these regions. This glass ceiling has been broken. People from all parts of the country are availing opportunities.
India has the highest number of TV channels, newspapers and magazines in the world. Media is growing at a healthy pace. A talented, dedicated and hard working person will never run out of opportunities in the media. One who wants to practice journalism must study and travel. This will increase their knowledge giving them first hand experience.
7) Creative designs on the future
The Indian growth story has created a demand for professionals in fields which till some decades back weren’t even seen as regular jobs. Himani Tyagi looks at how design and architecture jobs are the new things on the block
Designers are the actual creators of consumer products. Be it beauty products, technology, basic necessities or fashion, there are distinct design elements in each of these areas. And in the past few years, their horizons have only expanded.
Since 1991, the Indian economy has transformed from a closed economy into a market based economy where market forces have come into play. “The rule of market economy is the survival of the best. Consumers enjoy the luxury of choosing between different products and that is how design of a product has come to play a crucial role,” says Pradyumna Vyas, Director, National Institute of Design (NID), Ahmedabad.
Design in India has gone through a phase of innovation and creativity due to the increased consumer awareness and demand of utility and comfort.
Opportunities for students are immense in a designing profession as there will be a need for skilled and trained design professionals in a number of sectors. There is a huge scope in sectors like manufacturing, IT, fashion, engineering, technology, automobiles etc. as these industries evolve on a regular basis. “We are producing hardly 1,000 designers every year against a huge demand of 10,000 designers,” informs Mr. Vyas.
The demand for talented and skilled designers will continue to rise in the near future and students will continue to avail job opportunities in the fields of fashion designing, interior designing, textile designing, automobile designing, animation and graphic designing.
Pakhi Gupta, a Delhi based freelance interior designer says, “The technological revolution has made the field multi-disciplinary in its approach, which in turn has increased the scope in designing. Often, large teams are created for a project where people from different designing backgrounds are hired so as to deal with complex issues of designing, art and structure. Students can always explore their chances in their niche.”
Prominent job roles
If you have a flair for fashion and have creative ideas, then accessory designing is the right role for you. An accessory designer is generally responsible for conceptualising and designing accessories like handbags, shoes, jewellery, hats, belts, gloves etc.
A furniture designer designs items of contemporary furniture and other related products for commercial, industrial, domestic and international clients.
An exhibition designer’s work involves creating fixtures and displaying stands for public exhibitions, trade shows and conferences. He or she can be from a different background such as industrial design, product design or interior design.
Institutes offering design courses
• National Institute of Design (NID), Ahmedabad
• National Institute of Fashion Technology, NIFT
• IILM School of Design, Gurgaon
• Pearl Academy, Delhi
• Raffles Design International, Mumbai
Architecture has undergone a tremendous change as demographic set ups have been altered significantly. Students from different streams, disciplines and social backgrounds have started opting for a career in architecture. “Big scale projects, technological advancement and emergence of a number of specialisations within the field of architecture have brought in positive changes,” says Swapna Sarita Swin, Project Architect, Raheja Developers. From building sciences, project management, to urban planning and sustainable development, architecture has emerged as a highly attractive career option carrying great potential in terms of future growth.
Despite 200 architecture colleges, India is still unable to meet the demand for skilled and trained professionals. “Urbanisation, social dynamism, exponential growth of population and demand for low cost housing will contribute to the growth of the profession,” predicts Swapna. The recent spread of awareness among people about sustainable architecture and green architecture has also added to the scope of environment architects and landscape architects in India.
“Getting your first assignment can be slightly difficult as the first challenge is to convince the clients of your ability to produce the desired design within the given budget. Therefore, apprenticeship experience is a must on your records,” says Paran Bharadwaj, an architect. Architecture graduates can start working with construction companies as designers.
The annual package for a fresh architecture graduate starts from two lakh rupees. While working in real estate can fetch you a salary of Rs. 40,000 to Rs. 50,000 per month.
Prominent job roles
An architect is a person who has received formal training from an institute on planning, designing and construction of buildings. He or she is generally licensed to practice architecture in a company, real estate or work independently.
Unlike architects, architecture designers aren’t registered but perform the job of designing small buildings and houses.
An architecture engineer holds the dual qualification of civil engineer and architect. He or she has to focus on specific requirements of a structure such as its ability to withstand natural disasters.
Institutes offering architecture courses
• School of Planning & Architecture, New Delhi
• Birla Institute of Technology, Mesra
• School of Architecture, CEPT, Ahmedabad
• Anna University, School of Architecture & Planning, Chennai
• Indian Institutes of Technology – Kharagpur, Roorkee
“There is no dearth of jobs in the textile sector”
Creativity and innovation are the buzzwords for the design sector, one of the top employment generators. Monica S. Garg, Joint Secretary in the Ministry of Textiles and Director General, NIFT in an interview with Shruti Mittal shares the scope and growth the sector is envisaged to witness
What are the initiatives taken by the government to encourage students to opt for design as a career?
In order to keep our students updated, we did a curriculum review with the help of industry and peer institutes. The purpose was to prepare a curriculum that would suit the dynamics of the industry. An invigorating, in-depth study was conducted.
More industry exposure, contemporary issues such as green and sustainable fashion, research methodology, developing entrepreneurs, conducting modules for entrepreneurship development are now part of our curriculum. Moreover, now we are focussing on reviving connect with the grass roots so that students can understand the traditional arts and crafts of our country, which are very varied, diverse and rich. It has a lot of export potential.
What kinds of jobs are being created in the sector?
Newer avenues are being created for the youth. Fields such as fashion designing, textile designing, knitwear designing, accessory designing, fashion communication, footwear designing, architecture, interior designing. Fashion communication is in itself a very diverse field. It includes graphic design, communications, media, publicity, advertising, retail, marketing, management.
Since these avenues are somewhat new to the Indian market, how satisfactory would you say are they financially and professionally?
The jobs may not be lucrative in the beginning because the industry looks at the experience as well. But in a year or two, they become more lucrative and are at par with other professions. To enhance students’ creativity, NIFT has entered into an agreement with the Fashion Institute of Technology (FIT), New York. The students who will get the opportunity to learn at FIT will be given a dual degree. This initiative will definitely help students to get good jobs in the market.
What is the scope of fashion design jobs in India?
There is no dearth of jobs in the sector for people who are hard working. Even during recession, when every sector saw a fall in growth, the textile sector remained untouched. Our growing population is our biggest asset, because it increases the size of our domestic market. Design adds value to the product and enhances its value, makes it more desirable. There are ample opportunities for people who are creative because the Indian market is opening up and so is the mindset of the people. They are ready to experiment, which increases the scope and rate of hiring in this sector.
What kind of challenges is the textile sector facing in the present time?
The growth of the textile sector in India is not as much as we had wanted it to be. The market is still unable to absorb the students passing out. But fortunately, countries like Bangladesh and Sri Lanka are hiring Indian students with a fashion background. This way, Indian students are getting an opportunity to learn about the international market.
Will the proposed foreign direct investment (FDI) in the Indian retail sector help in creating more jobs?
We haven’t studied the impact but whenever the jobs are created there is no doubt that design, management and technology students will always benefit. Secondly, textile is a growing sector in India and gradually the demand for professionals with similar expertise is increasing.
8) Laws to success
Traditional black coat and white shirted lawyers are making way for those in crisp business suits who rarely step into the courtroom. Himani Tyagi delves into the world of corporate law
The re-organisation of rules concerning business transactions and the World Trade Organisation (WTO) regime have directly led to an increase in demand for corporate lawyers in the country. Business and business related activities such as mergers, acquisitions, raising money and other business offerings now require trained corporate lawyers as these businesses have to function under a legal framework defined by the Government of India.
The revision of the Companies Act 1956 in 2006 has introduced rules and regulations governing the working of business corporations. “Now, every transaction is regulated by the government. The present FDI scenario will increase the number of joint ventures, mergers and acquisitions. In this context we will see a rise in the demand for corporate lawyers with business skills,” says Rishi Raj, a corporate lawyer with Singhania & Partners.
Prof. Veer Singh, Vice-Chancellor, NALSAR, Hyderabad is of the same opinion. “In this global market scenario, India will play a substantial role and the demand for Indian professionals and expertise is expected to rise in the field of corporate law,” he asserts.
But there’s other reasons fanning the demand for corporate lawyers. Indian courts are overburdened with cases and trial lawyers. For many therefore, corporate law serves as a very attractive alternative. But there is already a definite shortage.
“In the coming ten years, the demand for trained corporate lawyers will reach 95,000. At present there are 13 national law schools which produce merely 1,100 to 1,200 law graduates altogether every year. There is going to be a huge demand-supply mismatch in India,” says Prof. Singh.
Intellectual Property Rights
Comparatively a new area, Intellectual Property Rights (IPR) is throwing up new challenges for corporate lawyers, particularly for companies operating on a global scale. In this context, Intellectual Property Law deals with patents, trademarks, industrial designs, copyrights etc., which ensure protected ownership rights on technology and products in the market. In the new economic world order, IPR has become valuable for companies to retain their share in the market.
Neelkamal Jain, IP lawyer with Singhania & Partners says, “The Indian economy is growing and its global presence is increasing day by day. Innovations and scientific development has picked up pace. If India has to capture and retain its international market share, then Intellectual Property Law should be strengthened.”
Both Corporate Law and Intellectual Property Law have become lucrative practices in India. Top law firms and corporates provide excellent job opportunities to fresh graduates. The average salary of a law graduate from a recognised university in India is Rs. 12 lakhs and above.
Five prominent job roles
A corporate lawyer is responsible for solving all legal matters and makes sure that the company owners are aware of the legality of the company. He or she is also responsible for all the legal transactions of the company.
Corporate legal associate
A Corporate legal associate is responsible for preparing legal documents and other contracts, ensuring compliance with regulatory requirements and assisting in investigation of matters assigned to the legal department of the company.
Corporate transactional lawyer
He or she is responsible for contracts, negotiations and prevents future conflicts which may affect the interests of the company. They specially deal with Mergers & Acquisitions (M&A).
Corporate litigation lawyer
He or she learns about a dispute and is directly involved in settling the matter.
Corporate tax lawyer
The job of a corporate tax lawyer involves helping the business on different tax related issues such as Income Tax, Excise and other tax formalities.
Institutes offering Corporate and IP Law
• NALSAR University of Law, Hyderabad
• National Law School of India University (NLSIU), Bangalore
• National University of Juridical Sciences (NUJS), Kolkata
• Symbiosis Society’s Law College, Pune
• Faculty of Law, University of Delhi
A matter of choice
Sajai Singh, Senior Partner with J. Sagar Associates on how the corporate law profession has evolved in the last two decades
As I try and relive the last two decades while writing this article, what stands out as the single most dramatic factor that has affected the corporate law profession and India in general, over the last two decades, is the availability of choice. Young people today can be more precise in what study to pursue! This availability of choice may be a factor of the changed landscape and the easy availability of information, both aiding decision making.
I passed out of the Campus Law Centre (CLC), Delhi University, in the year 1990. Before passing out, I wanted to get into non-litigation legal practice, keeping in mind my interests. A bit of fine tuning of my interests made me realise that options to work in the arena of International Public Law, Admiralty Law or even Treaty Negotiation were best understood as unviable options. A not so close option was Corporate Law.
JB Dadachandji, a senior practioner in the field of corporate law in Delhi, told me that a lawyer in India is understood to be someone who goes to court, and litigates on behalf of his clients. Other avenues, broadly referred to as Chamber Practice, though available, are not really as well respected as litigation.
He gave me a valuable suggestion, which I give to all young practioners since - give yourself two years in litigation, and then decide if you still want to move to non-litigation practice. I joined Raian Karanjawala soon after law school. Since I had not done any legal internships during my legal studies, I did not know what to expect. Internships are an interesting evolution of the scope of legal education.
I enjoyed advocacy, and a lot of my skill sets were learnt on my feet in the court room and chasing files in the Court Registry. While I learnt process and procedure in the Registry, in the court I learnt positioning. As a teacher of Negotiation Skills to lawyers, I strongly recommend to my students not to take positions but to look behind and beyond positions.
Litigation also taught me the art of research. It taught me various ways of interpreting statute, and the fallibility of caselaw. The learnings from the labour courts, come in handy even today as I support IT/ITES industries which are human capital focussed and deal with employment issues on a daily basis.
With all the learnings that contentious work gave me, I knew that I had an aptitude for non-contentious work.
It was 1992; India began its tryst with globalisation. Multinationals, shunned by India for long, were being cautiously welcomed. With the multinationals came the need to have corporate lawyers. It was an exciting time. I joined a recently started firm, J. Sagar Associates and later, left for Bangalore to set up their office there. I’ve been with them and their philosophy for 19 years now!
In Bangalore, the economy was closely linked to the US economy. A lot of the businesses either supported US companies or were their subsidiaries. The dot com boom and subsequent burst. The highs and lows of the 2000s were all felt in Bangalore and my practice. Not only were these impacts in the financial sense, these changes also required one to learn, apply and adapt legal support to clients.
Money was flowing into Bangalore and each investor, domestic or foreign, required very different protections, exits and assurances. With hard work, one was able to create precedents, where none existed, find innovative solutions where there was little guidance and finally address client needs efficiently resulting in a satisfied client. Unknown to participants in this whole process, the 2000s saw the scope of corporate legal practice change – specialisation was emerging.
The move from being a generalist to a specialist I think has been the most significant change in my profession. And this has been fuelled by the choices that now exist for businesses, and therefore for their advisors. With every new structure, business needs new expertise, and specialists are born. Today when I talk to young lawyers, they discuss career choices between say specialising in direct tax and private equity investments. Between telecoms and sports law. Between education and transportation law. There is no better time to be a lawyer in India than now!
Specialisation is key. Each area of business is supported by specialised lawyers who understand just that aspect of business. They know the business and the intricacies, so they can interpret law to those realities. More and more specialisation is coming to the Indian legal profession and those who aim carefully will be rewarded immensely.
So when someone asks me today, what has changed in the corporate law profession in India over the last two decades, my answer is simple. It is the availability of abundant choices. In a few years, the concept of corporate law may be antiquated. The choices would have taken over and there will be different fields and legal professionals focussed on each choice that has and will emerge.At this time, all I can say is that I am glad I could witness a profession, a time and a country change.
9) Building the country’s foundation
At a point of time the preferred choice of engineering graduates, civil engineering is once again acquiring new importance in a resurgent India. Himani Tyagi finds out how
Once recognised as an elite profession, Civil Engineering has continued to remain the soul of infrastructural development in India, not only during the British colonial period, but even after Independence. The continued importance of the field has more to do with the emergence of huge opportunities for civil engineers in India in the infrastructure and industrial sector.
“In the past five to six years, the demand for civil engineers has been increasing and will continue to go up,” says Professor S K Singh, Head, Department of Civil Engineering, Delhi Technological University. The analysis appears to be in line with government plans to spend $500 billion by 2012 on infrastructure, in comparison with $220 billion during the Tenth Five Year Plan (2002 – 2007). The expenditure is set to rise by 100% in the next five year plan.
Infrastructure boom in terms of construction of national highways, flyovers, metro rails, airport terminals, ports, power plants, hydropower plants, nuclear power plants etc. offer ample opportunities in India. “Till 1991, infrastructure was funded mainly by the government, but post 1991, with the arrival of Public Private Partnership (PPP) in many of the infrastructure projects, huge investments from industries has made the sector more lucrative,” says Prof. S. R. Gandhi, Head, Department of Civil Engineering, Indian Institute of Technology, Madras. With the involvement of MNCs in Civil Construction, Design and Project Management etc. in the recent past, job prospects have improved.
But in the journey to here, the supply demand cycle for civil engineers has seen many fluctuations. “The effect of the economic slowdown and recession in the West has made fellowships for higher studies more difficult to obtain. This factor, together with the surge in infrastructure has improved the opportunities for civil engineers in India itself,” informs Prof. Gandhi.
Civil engineers find job opportunities in public and private industries, government departments, teaching and research roles. There are a number of finance and infrastructure oriented organisations such as GMR, GVK, SAIPEM, Shell Technology, Metro Rail, NTPC, BHEL, L&T, etc. where students get good placements. A new recruit is generally given six to twelve months training before he or she is absorbed by the company.
The salary is variable depending on the size of the industry and amount of money the organisation invests in the training of a candidate. The entry level salary for a graduate civil engineer starts from three to twelve lakh rupees per annum.
Five prominent job roles
At the entry-level, structural designers design the structural elements of a building or non building structures such as beams, floors or columns. They can also specialise in the fields of bridge engineering, industrial structures, building engineering or special mechanical structures after gaining good experience.
Architectural engineers’ work focuses on specific requirements of a structure such as a structure’s ability to withstand natural disasters. Others may focus on air quality, impact of construction on the environment and energy efficiency.
A site engineer’s task involves visiting the project site, developing construction plans and community consensus. They work closely with surveyors and other specialised engineers within the project site.
The title ‘Project Engineer’ is given to a new project manager or site manager. They typically do field work, managing day-to-day activities of the project and representing the general contractor. The work doesn’t involve designing but guiding tradesmen on the job by interpreting project plans. With considerable experience, one becomes a ‘Project Manager’.
Civil engineers can become software developers or assist IT professionals in developing technically advanced software for various projects.
Institutes offering Civil Engineering
• Indian Institutes of Technology - Madras, Delhi, Mumbai, Kharagpur, Kanpur, Roorkee and Guwahati
• Delhi Technological University, Delhi
• The Institution of Civil Engineers, Ludhiana, Punjab
• Birla Institute of Technology, Pilani
• Institute of Technology, Varanasi, Banaras Hindu University
Laying a strong foundation
Civil engineers have one of the world’s most important jobs - they are instrumental in enhancing the quality of life. Atul Kumar, Chief General Manager of NHAI in an interview with Himani Tyagi shares his views on the growing demand of civil engineers in India and abroad
A nation can explore and unleash its full potential provided it improves the infrastructure facilities. It is vital for economic development. Better the infrastructure facilities better will be the growth prospects.
Since 1991, Indian economy has witnessed major changes such as globalization, privatization, better living standard and infrastructure expansion. The question arises, whether these changes are a result of contribution from civil engineers. The answer to which is that the rapid infrastructure developments happening in India can only be strengthened with the contribution from young professionals in the civil engineering field.
India has substantial funds flowing in for infrastructure and major cities like Delhi/NCR, Mumbai, Bangalore and Chennai are abuzz with construction activities. Apart from this, a number of other projects are coming up for upgradation and development of national or state highways.
Every nation is expanding its infrastructure in its capacity so as to survive in the era of international competition. The scope for civil engineers also lies abroad in many developing countries in Asia, Africa and Middle East. There is a lot of demand for Indian engineers as infrastructure development is picking up in developing countries. Civil Engineering is the next big thing in the engineering sector. The present demand will generate many job opportunities and it will continue to rise for next two decades.
However, there is a sort of regional imbalance in the demand-supply of civil engineers in India. In comparison to rural areas housing and construction projects are dominant in urban areas and so is the demand for civil engineers. For instance metro construction can only take place in cities.
Over the years several reasons have contributed in the growth of the civil engineering profession. Firstly, urbanization, the demand for Civil Engineering has a direct relation with population growth. Earlier major population resided in villages but now people have started migrating to metros and small cities in search of better job opportunities. This has directly led to an increased demand for urban infrastructure facilities and generated a great demand for civil engineers.
Secondly, industrialisation, the pace at which it has accelerated in past two decades has further pressed the need to develop adequate infrastructure network.Lastly, Technological Revolution, the advanced techniques utilized extensively in construction in developed and developing nations have slowly trickled down to India.
The discipline of civil engineering has also evolved with the introduction of new concepts such as green buildings, expressways and bridges etc, in the construction field. Another positive development in this direction has been the addition of Civil Engineering programme in a number of private institutes and those with already established programme have increased the number of seats based on the demand.
To meet the prospective growth there are some definitive skill sets that a civil engineer should possess. He or she should be well versed with the three concepts of engineering, design and architecture. Also, hard work, analytical skills, aptitude and intelligence are a must for a civil engineer. The role of a civil engineer is extremely crucial in the overall development of the nation. As the world’s population increases and as environmental concerns mount, civil engineering skills will be required throughout the world.
10) Banking on banking
It is one of the sectors expected to provide the most growth and job opportunities in the coming years in India. Shruti Mittal explores the opportunities available with banking
Liberalisation and relaxation in Foreign Direct Investment (FDI) norms in the country has had a direct impact on the Banking sector. It is one of the service sectors that has witnessed a tremendous boom in recent years. This of course has had a knock on effect on the hiring of talented professionals and their willingness to work in one of the most lucrative service sectors.
“Employment in banking is predicted to increase significantly between 2008 and 2012. The combined effects of technology and population growth will continue to affect total employment growth and the mix of occupations in the banking industry. Also, many foreign banks prefer to concentrate strategically on Asian economies as they offer higher profitability currently,” informs, Sanchita Mukherjee, Vice President, Marketing, HSBC.
If the campus placements of leading B schools are any indication, then this sector might be termed as one of the most lucrative today. Compensation is nowadays structured such that apart from the fixed pay, the variable pay-outs have a good upside based on the performance of the individual.
“Public and private sector jobs are likely to recruit professionals at graduate levels/ post-graduate levels and qualifications such as MBA/ PGDBM, Chartered Accountancy, Masters in subjects like Economics etc are preferred. Thus, the peer group in private banks is usually young, dynamic and a qualified set of professionals who bring diversity and knowledge to the work arena, which is good news for the youth,” she further adds.
Secondly, the IT revolution has had a great impact on the Indian banking system. The use of computers has led to introduction of online banking in India. Apart from this, third party products like mutual funds, insurance to clients and wealth management have become revenue grossers for many private and foreign banks.
Five prominent job roles
A Private banker is a specialist who can provide structured solutions to complex financial needs tailored to suit an individual’s financial objectives. He churns out creative solutions to complicated situations to help affluent individuals and their families manage their wealth today, and develop new sources of wealth for future generations. He can be either in relationship management or in product development/ Investment counselling.
An Investment banker helps customers raise funds in capital markets and gives advice on mergers and acquisitions (M&A). This may involve subscribing investors to a security issuance, coordinating with bidders or negotiating with a merger target.
A Corporate treasurer is responsible for an investment bank’s funding, capital structure management and liquidity risk monitoring. He provides a comprehensive range of products which include - foreign exchange, money market and fixed income products and derivatives in both rupees and major currencies.
A Corporate banker is a specialist on corporate financial management and transactions. Clients are serviced by sector based client service teams that combine relationship managers, product specialists and industry specialists to develop customised financial solutions.
Relationship managers in personal banking/retail banking
Relationship management teams are tasked with understanding in-depth, the sectors in which clients operate with the aim of adding value through detailed industry knowledge and structured financial solutions.
Entry barriers are low in this segment. As in personal banking, given the demographic shifts resulting from changes in age profile and household incomes, consumers have increasingly started demanding enhanced institutional capabilities and service levels from banks, which enhances the scope of the people seeking a job in personal banking/ retail banking.
Graduates and postgraduates can compete based on work experience and communication skills. The segment is high on growth with good job creation prospects; more so with the banking sector being opened up with more licences to run banks made available.