Job Crisis for ENGINEERS during 2013-2015

A million engineers in India struggling to get placed in an extremely challenging market.

 

 Somewhere between a fifth to a third of the million students graduating out of India's engineering colleges run the risk of being unemployed. Others will take jobs well below their technical qualifications in a market where there are few jobs for India's overflowing technical talent pool. Beset by a flood of institutes (offering a varying degree of education) and a shrinking market for their skills, India's engineers are struggling to subsist in an extremely challenging market.

 

  According to multiple estimates, India trains around 1.5 million engineers, which is more than the US and China combined. However, two key industries hiring these engineers -- information technology and manufacturing -- are actually hiring fewer people than before.

 

For example, India's IT industry, a sponge for 50-75% of these engineers will hire 50,000 fewer people this year, according to Nasscom. Manufacturing, too, is facing a similar stasis, say HR consultants and skills evaluation firms.

According to data from AICTE, the regulator for technical education in India, there were 1,511 engineering colleges across India, graduating over 550,000 students back in 2006-07. Fuelled by fast growth, especially in the $110 billion outsourcing market, a raft of new colleges sprung up -- since then, the number of colleges and graduates have doubled.

 

 

   

" Race lagi hai har jhaga bhago gai nai to kuchlai jaogee...."

 

 

 

 

 

 

 

 

 

 

 

 

 

Impact of recession on Industries in 2013

 IT and computer streams are going to experiences their worst time in this 2013 year till 2015 which was expected to be the end of JOB CRISIS.  

 

Hiring is slowing down because recruiters are changing their strategy. "An engineering degree is a poor proxy for your education and employment skills," says Manish Sabharwal, chairman of TeamLease, a temp staffing firm. 

"The world of work is evolving... employers increasingly don't care what you know, they focus on what you can do with that knowledge." While dozens of new institutes have been established in the past six or eight years, he claims that over a third of them are empty and perhaps they are "worth more dead (for the real estate they sit on) than alive."

A global economic slowdown may have only worsened what is already a bad problem, say others such as Amit Bansal, co-founder of Purple Leap, a skills assessment firm, which routinely gauges the capabilities of students across these institutes.

 "Even without this slowdown, there are a large number of students who won't get a job," he says. Bansal estimates that, at best, there are 150,000-200,000 jobs generated annually in the Indian economy and far too many engineers attacking this labour pool.

What's more, India's technical talent pool is also warped, with almost the same number of engineers as technical graduates from institutes such as ITI. "In developed markets, there is usually one engineer for every ten," says Bansal. This skew is only compounding the woes of engineers in India.  

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