Up to 300% salary hikes, 16% growth in placement counts: upGrad's H1 report
Bengaluru, Delhi, and Mumbai emerged as the top job hubs for data analysts, digital marketers, data scientists, data engineers, and business analysts, upGrad noted.
Skilling and workforce development focused edtech startuphas recorded remuneration hikes of up to 300% in the first half of 2023, with data and digital marketing fields having the highest salary jumps.
upGrad's year-on-year placement counts saw a 16% increase in the first quarter, the company said in a statement. Data-driven roles continue to be in high demand, with Bengaluru, Delhi, and Mumbai emerging as the top job hubs for data analysts, digital marketers, data scientists, data engineers, and business analysts.
“As we navigate through a dynamic job market, it is imperative for us to enhance our placement services every six months and add newer elements to be in sync with India's hiring pulse," said Husain Tinwala, Co-Founder of upGrad Rekrut. upGrad had acquired recruitment and solutions staffing company Rekrut India in 2020 as the first instance of an Indian edtech firm acquiring a recruitment company.
"Technologies and innovation-induced roles are progressing at a faster pace, and the only way we can make our talent stand out is through top-class pedagogy and hands-on placement support," Tinwala added.
As per upGrad, nearly half of the professionals took the initiative to upskill themselves in the past 3-5 years, primarily through professional certifications and online courses.
“The amount of opportunities talent has today is in abundance, but the process is getting tougher. One needs to be a specialist and understand market-ready tools to be able to make the cut," Mayank Kumar, Co-founder and MD, upGrad said. "That’s where upskilling comes in and allows one to assess the skill demand coming out of Indian organisations," Kumar added.
Earlier this year, the Ronnie Screwvala-led company also launched upGrad Institute, a government-approved private education institution in Singapore that offers an industry-ready experiential curriculum. The institute has invested $5 million in its establishment and scaling.
A recent survey by Emeritus, a professional education firm, found that over 75% of Indians are concerned about technology replacing their jobs if they do not upskill. Scaler's 2023 Hiring Survey revealed that nearly two-thirds of Indian tech companies are investing in upskilling programmes for their employees to address skill gaps and bridge the talent gap.
In August this year, edtech unicorn PhysicsWallah (PW) too announced its plans to offer products and services catering to a growing demand in skilling, reskilling, and upskilling.
Edited by Kanishk Singh