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3 Years In IT Sector, What Next? Study By AIM & Jigsaw Academy

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3 Years In IT Sector,
What Next?
Study By Analytics India Magazine & Jigsaw Academy
2 3
CONTENTS
Introduction
Research Methodology
How long have you been
working in this industry?
Do you wish to work in you...
4 5
INTRODUCTION
The field of information
technology is evolving at a
more faster rate than usual.
Areas like artificial i...
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3 Years In IT Sector, What Next? Study By AIM & Jigsaw Academy

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The field of information technology is evolving at a faster rate than usual. Areas like artificial intelligence, data science, data analytics and internet of things, among others, are now being integrated with industries across all sectors. Many times, it becomes difficult to keep track of these technologies and keep up with them.

The field of information technology is evolving at a faster rate than usual. Areas like artificial intelligence, data science, data analytics and internet of things, among others, are now being integrated with industries across all sectors. Many times, it becomes difficult to keep track of these technologies and keep up with them.

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3 Years In IT Sector, What Next? Study By AIM & Jigsaw Academy

  1. 1. 3 Years In IT Sector, What Next? Study By Analytics India Magazine & Jigsaw Academy
  2. 2. 2 3 CONTENTS Introduction Research Methodology How long have you been working in this industry? Do you wish to work in your current technology/domain for the next five years? Do you feel you face enough growth opportunities in your current role? If you do want to change your job/role, how do you plan to do it? What Future Tech would you like to upskill to? If you would like to upskill, how do you plan to do that? Do you think, your organisation should sponsor to upskill you? Do you think your current job will be automated in the next 3-5 years? How many times do you hear keywords like AI/ IoT/ Blockchain in your current organisation? Are you already looking out for a job in tech like AI/ data science/ IoT/ Blockchain? Do you think your past experience would be wasted once you move to another technology? How much salary hike do you think you would receive once you transition to another tech? The Managerial Perspective Road To Career Transition 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34
  3. 3. 4 5 INTRODUCTION The field of information technology is evolving at a more faster rate than usual. Areas like artificial intelligence, data science, data analytics and internet of things, among others, are now being integrated with industries across all sectors. Many times, it becomes difficult to keep a track of these technologies and keep up with them. Now, more than ever, we are seeing a pattern where young professionals are finding themselves confused about their future in the company — be it regarding their job roles, their progress, or even the fear of losing their jobs to machines. Analytics India Magazine, in association with Jigsaw Academy, decided to find out what goes on behind the making of a good career graph in 2019. From the education background to upskilling strategies and organisational partnerships for further studies, today’s young professionals have found many ways to fight the career ennui. In fact, industry numbers suggest that there is an 18% to 20% attrition rate for young professionals with around three to four years of work experience.
  4. 4. 6 7 RESEARCH METHODOLOGY The samples were collected by asking respondents to fill in a survey created by AIM about what these young professionals felt like at work — professionally. This included various sub-topics such as growth opportunity in the current organisation, their need to upskill and their preference of a particular New Tech. We took opinions from young Indian professionals with work experience between 2 to 4 years to get a thorough idea of the working environment in this growing field. Our survey was met with much enthusiasm — and we got some great insights from it. Some of them were expected, and many of them were real eye-openers.
  5. 5. 8 9 • Our core demographic for the survey, young professionals with work experience of between two to five years constituted a majority of the result at 39% • The other important constituents to the survey were young working professionals with less than two years of work experience at 27% • 19% of our respondents were persons with 5-10 years of work experience 0-2 years 27% 2-5 years 39% 5-10 years 19% 15+ years 9% 10-15 years 6% HOW LONG HAVE YOU BEEN WORKING IN THIS INDUSTRY? 39%respondants are with work experience of 2-5 years
  6. 6. 10 11 DO YOU WISH TO WORK IN YOUR CURRENT TECHNOLOGY/DOMAIN FOR THE NEXT FIVE YEARS? • The answer to this question was an ambitious “no” with 63% young professionals saying that they would definitely want to change their roles in terms of technology or domain • About 27% respondents were not sure about their future in their chosen sector • And only 10% of the respondents said that they wanted to keep working in the same technology domain No 63% Maybe 10% Yes 27% 63%professionals want to change their roles in terms of technology or domain
  7. 7. 12 13 DO YOU FEEL YOU FACE ENOUGH GROWTH OPPORTUNITIES IN YOUR CURRENT ROLE? • Interestingly enough, an overwhelming majority of the professionals at 66% said that they did not face enough growth opportunities in their current role • Only 34% said they did foresee growth opportunity No 66% Yes 34% 34%professionals foresee a growth opportunity in their career
  8. 8. 14 15 IF YOU DO WANT TO CHANGE YOUR JOB/ROLE, HOW DO YOU PLAN TO DO IT? • When asked the question about how these young professionals wanted to take their career ahead if looking for a change, the majority of them, at 59%, said that they would prefer to upskill, while keeping their current jobs • 18% of the respondents said that they would quit working full time and take a break to pursue a subject properly • 13% of the respondents, on the other hand, said that they would like to change jobs, as that would also allow them to get more exposure and experience Up-skill 59% Study break 18% No change 6% New job in same organisation 4% New job in different organisation 13% 59%professionals prefer to upskill while keeping their current jobs
  9. 9. 16 17 WHAT FUTURE TECH WOULD YOU LIKE TO UPSKILL TO? • When asked about what future tech would most of the young professionals would upgrade their skill set to, most young professionals gave a very clear answer: artificial intelligence and machine learning-related technologies were most in demand at 44% • 35% of the respondents with 3-5 years of work experience in the IT sector also said that data science would be a great option to upskill AI/ML 44% Blockchain 6% IoT 1% Others 14% Data science 35% 44%professionals want to venture into artificial intelligence related career
  10. 10. 18 19 IF YOU WOULD LIKE TO UPSKILL, HOW DO YOU PLAN TO DO THAT? • 37% of the respondents who prefer to upskill said that the best way to do this was through taking up a part-time educational programme • 35% said that they would prefer studying on their own, using their own material which is available freely online • 19% of the respondents said that they would like to quit their full- time jobs and pursue full-time education Sponsored program 9% Self study 35% Full-time course 19% Part-time course 37% 37%professionals prefer part-time education for upskilling
  11. 11. 20 21 DO YOU THINK, YOUR ORGANISATION SHOULD SPONSOR TO UPSKILL YOU? This question was met with a very positive reaction where 64% of the respondents said that they would like it if their organisations encouraged the culture of upskilling by sponsoring it. Yes 64% No 36% 64%professionals want their organisation to sponsor upskilling programmes
  12. 12. 22 23 DO YOU THINK YOUR CURRENT JOB WILL BE AUTOMATED IN THE NEXT 3-5 YEARS? Probably reacting to the dystopian warnings predicted all around the country via different means, almost half the respondents, at 49%, said that they were worried that their job would be automated within the next five years. Yes 49%No 51% 49%professionals are worried that their jobs might get automated
  13. 13. 24 25 HOW MANY TIMES DO YOU HEAR KEYWORDS LIKE AI/ IOT/ BLOCKCHAIN IN YOUR CURRENT ORGANISATION? • New tech concepts such as AI, IoT and blockchain have become fairly common at workplaces today. Clearly, respondents have had positive experience towards it, because, 44% said that they heard these terms frequently • 28% respondents said that they heard these terms regularly Never 8% Frequently 44% Regularly 28% Sporadically 20% 28%respondants hear of terms such as AI, IoT, Blockchain on a regular basis
  14. 14. 26 27 ARE YOU ALREADY LOOKING OUT FOR A JOB IN TECH LIKE AI/ IOT/ BLOCKCHAIN? Clearly, after gaining a few years of work experience in the IT sector, the next step for most young professionals is to then move on to New Tech. This was demonstrated by an overwhelming majority of 72% who said that they were already looking out for a new job in this area Yes 72% No 28% 72%professionals are already looking out for job in emerging tech
  15. 15. 28 29 DO YOU THINK YOUR PAST EXPERIENCE WOULD BE WASTED ONCE YOU MOVE TO ANOTHER TECHNOLOGY? Many professionals have expressed this fear in the past that while upskilling is a good move for the career, but it may sometimes undermind the past work experience. • But 52% of the respondents said that they did not think that upskilling or moving into another, newer technology would waste their past work experience • However, 29% of the respondents were not sure about this Yes 19% No 52% Maybe 29% 52%respondants believe that their past experience wouldn’t go waste if they upskill
  16. 16. 30 31 HOW MUCH SALARY HIKE DO YOU THINK YOU WOULD RECEIVE ONCE YOU TRANSITION TO ANOTHER TECH? Most of the time, these young professionals want to move to newer territories in the future tech is because of the growth opportunities and monetary compensation. • 58% respondents think that they would get a salary hike between 20 to 50 percent after they upskill themselves or transition to new tech • 18% respondents said that they expected they would get as much as a 50 percent hike No hike 8% 10-20 percent 16% 50+ percent 18% 20-50 percent 58% 18%respondants expect 50% hike if they switch to emerging tech
  17. 17. 32 33 THE MANAGERIAL PERSPECTIVE Mohan Sitharam, the chief human resources officer at Subex, told Analytics India Magazine that they always preferred to upskill and retain current employees than hire outside talent. “Subex is a product company with deep expertise in the telecom domain. For a business such as ours, it is an obvious choice to retain and upskill our engineers. We consider re- training our existing resources as raising the bar of our talent’s competence, and in our experience, we realise that the odds of advantage are twice when we retrain our existing talent, rather hiring skills.” Bhuvan Nijhawan, Director Education – Asia Pacific, SAS, told Analytics India Magazine, “Young Professionals these days are constantly looking to upskill themselves, given the rapid market demands and advancements in Data Science technologies. These employees not only intend to continue with their current employer but also upskill themselves for career progression and growth. To encourage such budding talent and recognise their skillset, SAS® has introduced SAS® Digital Badges. These badges are given only to those who take up our official Training programs or those who clear the Certification exam. This also acts as a reference point for potential interviewers. With increasing demand for skills in Data Science, Machine Learning & Artificial intelligence, tech-savvy professionals with 0 to 3 years’ experience often look forward to acquiring these skillsets. Moreover, the hype in this field often leaves them with scattered information making it difficult to choose relevant programs to their profile. With this in consideration, SAS has developed assessment tools which map their existing skill sets thus aiding with recommended curricula relevant to their profile. We also work to connect these talents with our partner organisations and customers.”
  18. 18. 34 35 ROAD TO CAREER TRANSITION Abdul Baasit, one of the students who completed the Postgraduate Program in Data Science and Machine Learning from Jigsaw Academy has transitioned successfully in his career. “I had a background in IT but in around 2015, I discovered my interest in data and generally working with mathematical solutions,” he said. Abdul initially completed the course in Data Science with SAS and while he did then move into the data science space, he felt that it wasn’t quite enough. “I’d noticed the potential of analytics in the job market and was keen to get further into it. I felt that doing another more in-depth course would be helpful,” he added.
  19. 19. 36 37 ABOUT ANALYTICS INDIA MAGAZINE Founded in 2012, Analytics India Magazine has since been dedicated to passionately championing and promoting the analytics ecosystem in India. It chronicles the technological progress in the space of analytics, artificial intelligence, data science, big data by highlighting the innovations, players in the field, challenges shaping the future, through the promotion and discussion of ideas and thoughts by smart, ardent, , action-oriented individuals who want to change the world. Analytics India Magazine has been a pre-eminent source of news, information and analysis for the Indian analytics analytics ecosystem by covering opinions, analysis and insights on the key breakthroughs and developments in data-driven technologies as well as highlighting how they are being leverages for future impact. With a dedicated editorial staff and a network of more than 250 expert contributors, AIM’s stories are targeted at futurists, AI researchers, Data science entrepreneurs, analytics aficionados and technophiles. ABOUT JIGSAW ACADEMY Jigsaw Academy was started in 2011 by Gaurav Vohra and Sarita Digumarti. They were brought together by their shared passion for data and their belief in the power of analytics and Big Data to change the way not just industries, but individuals could work. They regard data science as a necessary life-skill, and their constant endeavour to improve how it is taught has been a consistent factor in what continues to distinguish Jigsaw Academy from other training providers.
  20. 20. © 2018 Analytics India Magazine Pvt Ltd and Jigsaw Academy. All rights reserved. Images or text from this publication may not be reproduced or distributed in any form without prior written permission from Analytics India Magazine or Great Learning. The information contained in this publication has been obtained from sources believed to be reliable. Analytics India Magazine and Great Learning disclaim all warranties as to the accuracy, completeness or adequacy of such information and shall have no liability for errors, omissions or inadequacies in such information. This publication consists of the opinions of Analytics India Magazine and should not be construed as statements of fact. The opinions expressed herein are subject to change without notice.
  21. 21. CONTACT US ANALYTICS INDIA MAGAZINE #280 , 2ND FLOOR, 5TH MAIN, 15 A CROSS, SECTOR 6 , HSR LAYOUT BENGALURU- 560102 JIGSAW ACADEMY NO. 308, THIRD FLOOR, 100FT MAIN ROAD, INDIRANAGAR, 1ST STAGE, BENGALURU-560038

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