India Inc. wants students with skills in robotic process automation (RPA), machine learning (ML) and artificial intelligence (AI), but these skills are lacking on campus when needed.
“This demand-supply discrepancy is because the curriculum takes one year after the demand for a particular skill increases. As the demand for skills declines after three years, it leads to both talent and employers,” said Deloitte’s second annual Campus Workforce Trends survey. Search 8
The survey was shared exclusively with Mint which was data from 150+ organizations and 250+ campuses across multiple industries.
The IT / ITES sectors were most sought after during campus placements followed by consumer goods and financial services.
In addition to digitizing all the processes of India Inc. in the last two years of the epidemic, there is a demand for Big Data Analytics, Fintech and Risk Analysis, AI, Cyber Security and Product Design and Engineering.
But Deloitte noted that top competencies on campus only show partial fulfillment of these needs, featuring iOS / Android development, digital marketing and market access, material science / R&D, and financial risk management.
“Although industry-academy partnerships continue to grow stronger each year, they are not embedded at the course level (some may be, but not yet institutionalized),” said Debut India partner Anubhav Gupta. “It transforms from a long campus to a corporate orientation program (three months to more than a year) – sometimes it causes discomfort to children,” he added.
Salaries vary across different specializations according to demand in each corporate sector. For example, within the MBA specialization, the consulting / services industry provides the maximum salary difference to students specializing in banking and financial services and finance, followed by marketing and business analysis. Entrepreneur and family business students, on the other hand, get the lowest pay offer with the FMCG / FMCD industry, followed by the IT / ITES industry.
IT / ITES offers top payouts in data science and more relevant engineering stream specializations instead of AI, then computer science. Engineering specialization also attracts higher pay gaps from the consulting / services industry.