Amidst the global coronavirus outbreak in different corners of the world, financial disruption and lack of jobs were the key challenges posed by the virus.
Hundreds and thousands of Indians were laid off from their jobs; however, a recent update indicates that over 93,500 data science jobs in India have been vacant till the end of August.
A study was conducted by EdTech company Great Learning, indicating a massive hike in the number of vacancies for data science jobs. Presently, India contributes a total of 9.8 per cent of total global analytics job opportunities until August.
As per the data collected earlier, there were a total of 7.2 per cent vacancies in data science opening until January 2020.
Increasing demand for professionals in the Analytical Sector
Amidst the global coronavirus, there has been a high job demands in the analytical sector of India. The overall number of job opportunities have decreased; however, the vacancies indicate an overall consistent growth statistic.
The key reason for an increase in data science job vacancies is considered to be the year-on-year increase of funding in Indian analytics organisations and start-ups.
Moreover, there has been a constant inflow of investment for the development of the analytics sector of India. A great number of job opportunities were outsourced to firms located in India due to the present coronavirus.
The massive job openings in the data science field are dominated by multiple MNCs. However, they are equally shared by domestic IT and KPO organisations.
These organisations are likely to shift their bases to India and are, therefore, recruiting in large numbers.
As per the study conducted by Great Learning start-up, the data science job landscape was tracked to learn more of the changes that occurred in the industry during the time of the pandemic.
The study indicated a great demand for mid and senior-level job profiles expecting a work experience of over seven years. 2020 has been dominated by mid and senior-level job positions whereas 2019 was dominated by younger professionals.
Therefore, the trackers indicate that there has been an overall growth in the sector along with significant changes in job profiles offered to professionals.
Demand for professionals from across the country
Among several metro cities in India, Bengaluru continues to top the list of high job opening city. The maximum number of job opportunities have been offered by Bengaluru-based start-ups and firms.
A total of 23 per cent job openings were contributed by Bengaluru whereas Delhi/NCR created 20 per cent of the maximum number of jobs. Mumbai contributed a total of 15 per cent job openings.
Among the several sectors posting job opportunities for data scientists, the BFSI sector has been the largest recruiter of data science and analytics talent in the country. The BFSI sector is said to have created a total of 35 per cent total job openings for data scientists.
However, as per the data collected, the contribution of the BFSI sector has been witnessing an overall decline since the past few years. The jobs created by the sector was at 41 per cent in 2018, 38.3 per cent in 2019 and 35 per cent in August this year.
Apart from the BFSI sector, the pharmaceutical sector of India has also been showing an increase in the proportion of data analytics job. The sector has witnessed an overall increase of 3.9 per cent of job openings, contributing to a total of 16.3 per cent data science jobs in India.
Post the widespread of the coronavirus, the health and pharma sector of the country has been boosted massively. Therefore, there has been significant growth in data science jobs.
Among several MNCs, KPO and IT companies, the leading organisations which have contributed greatly to the data science sector through career opportunities include companies like Mphasis, Accenture, Capgemini, Infosys, Tech Mahindra, IBM, Dell, HCL, Cognizant Technology Solutions and Collabera Technologies.
As per the data received through the study, the median salary for data science professionals in the country stands at Rs 9.5 LPA in 2020.
The actual salary may vary from one organisation to another. Professionals with more than a decade of work experience are likely to receive a salary package of Rs 25 to Rs 50 LPA as per their job roles and requirements.
Professionals with knowledge and expertise in ‘Python’ can benefit greatly since it remains a requirement from the majority of recruiters.
A total of 27 per cent job opening require a candidate with expertise in Python. Other than Python, Java/JavaScript is also accepted as the key core skill. There has been a significant 22 per cent demand in job openings requiring a candidate with expertise in Java or JavaScript.
Stay connected with fellow students on PaGaLGuY for CAT Exam 2020 Discussion