Indian software engineers are witnessing tremendous career growth and finding meaningful employment opportunities after undertaking upskilling courses, according to a survey.
Scaler, a Bengaluru-based edtech start-up for upskilling students and working professionals, today announced the release of KPMG commissioned "Scaler Placement Assessment Report", capturing the impact of upskilling on the Indian IT Ecosystem.
The rate of employability of Indian engineers has not been promising for more than a decade now, with a report by Aspiring Minds suggesting that nearly 97 percent of Indian graduates are unemployable.
The report further highlights the status of skill sets among engineers, with only 3 percent of the graduates adept in handling new-age skills in areas such as AI, Machine Learning, Data Engineering and Mobile technologies.
The latest Scaler Hiring Trends Report also indicates that 67 percent of tech recruiters in India are now choosing skills over degrees. Learners across demography are now recognizing the importance of tech upskilling platforms.
Scaler is a 9-11 month online, but immersive program learners take up along with their current jobs. Learners can choose to learn and build a career in either software engineering or data science. Inside Scaler, they go through live classes from industry experts, solve assignments with the help of teaching assistants and get personal mentorship from experts in the industry.
Over the last 3 years, professionals after upskilling (through Scaler programs) have witnessed over a 126 percent increase in their salaries across 2087 graduates. Scaler learners have witnessed a mean salary of 21.6 LPA, a median salary of 17.5 LPA and a placement rate of 93.5 percent. The highest domestic salary achieved by Scaler learners’ stands at 3.03 crores. The average salary for learners who had 6-10 years of work experience is Rs 31.9 lakh, while learners with more than 10 years of experience received packages averaging at Rs 57.1 lakh.
The KPMG assessment report also surveyed learners on their post-placement performance in the companies they joined. The average hike in salaries received after joining the new company stands at 67.8 percent, with 31.8 percent of alumni being promoted in the job they joined post-Scaler. In comparison, the average hike percentage across IT jobs in 2021 was 11.2 percent (according to the Salary Increase Survey by global professional services firm Aon).
Anshuman Singh, Co-Founder, Scaler and InterviewBit, "All career outcomes have a very high correlation to their adherence to the program. The program is very intensive and requires a lot of hard work. Getting into reputed product-based companies is no easy task. It needs techies to stay updated with the tech trends in the market, explore them, and thoroughly understand them. This is specifically hard because all of our learners do it with an existing job. I admire their commitment, and I am sure they will create a significant impact wherever they go.”
The KPMG Scaler report highlighted the majorly impacted industries with this boom in upskilling and they were Technology Solutions with an intake of 14.1 percent professionals, Financial Technologies with 13.9 percent, E-Commerce & Retail with 13.7 percent and Consumer Tech, which witnessed employment of 8.2 percent of upskilled professionals. Scaler also listed the top 25 employers for upskilled professionals across India, with Amazon, Microsoft and Delhivery in the top 3.
Abhimanyu Saxena, Co-Founder, Scaler and InterviewBit, said, "With the edtech players recognising this skill gap in the sector, the tech upskilling on offer today has been providing a second lease of life to Indian techies who aspire to work at product-based companies."
