Unemployment is a major concern in India today with a majority of youth trying hard to get a job that pays well as well as upgrading their skillset. And the COVID-19 pandemic has only made matters worse.?
However, a study has revealed that despite the damages caused by the novel coronavirus, one field still has over 93,500 jobs in India -- Data Science.
This is according to a study conducted by online learning platform ¡®Great Learning¡¯. The study sheds light on the fact that as of August 2020, over 93,500 jobs laid vacant in the field of data science.?
The study shows that even though the number of vacancies decreased this year (109.000 vacancies in February vs 82,500 vacancies in May 2020), the demand has remained consistent across key industries. One of the reasons why the demand continues to increase is the gradual increase in funding of Indian analytical firms, investment in enhancing analytical skills as well as an increase in the number of jobs being outsourced.?
As per the study, professionals with over 7 years of experience have the highest proportion of jobs with a share of 14.9 percent in August 2020, (compared to 12.5 percent in January 2020 and 6.7 percent last year).
People with 10 to 15 years of experience saw the vacancies to rise by 11 percent in August 2020 after doubling to 8.6 percent in January 2020 from last year. Vacancy for individuals over 15 years of experience witnessed a 4.9 percent spike in vacancies in August 2020 compared to to 2.8 percent in January 2020 and 1.0 percent last year.?
BFSI is still the largest recruiter of analytics and data science talent apart from IT amounting to 35 percent of all analytics jobs in the country. This is despite a noticeable drop in the contribution of the sector every year -- from 41 percent in 2018 to 38.3 percent in 2019 and 35 percent in August 2020.?
Pharmaceutical companies have also started to hire more from the field of data science with 16.3 percent vacancies across India -- 3.9 percent more than last year over the last year. Other sectors hiring analytics professionals include e-commerce, energy and utilities, media and retail.?
In case you were wondering what skills are in demand, you¡¯d be happy to know that Python professionals are among the most preferred candidates with over 27 percent jobs requiring Python as a core skill set. This is followed by Java/ Javascript with a 22 percent demand. R? comes third with 10 percent demand.?
Coming to the tools, Tableau skills are most preferred with 11 percent demand in August 2020, followed by Microsoft Power BI sitting at 6.5 percent. For cloud management, AWS? was the most preferred at 15 percent, followed by Azure Skills at 9.7 percent, and Google Cloud at 5 percent.?
According to the study, the average salary for someone in the field of data science is around Rs 9.5 lakhs per annum in the year 2020.?
With people who have more than 10 years of experience, the package ranges from Rs. 25 lakhs to Rs. 50 lakhs, based on roles and skills.