The job market in India is at an all-time high. The surveys are indicating a rise in employment of fresh graduates more than ever. Between the years 2014-2022, the nominal GDP has shown a CAGR of 10 percent (which is massive) and for which growth in employment is a major contributing factor, says an opinion article by Your Story. Between the same time period mentioned above, the technology job roles have grown by 31 percent, says an article on LiveMint. Another article in The Week, says that the growth of new and advanced technologies and the globalization of the economy is going to give the job market a kick upwards, in 2022. All of this means, freshers now have opportunities galore. Let’s check out the few highest-paying jobs of 2023.
1. Data Science
A lot of experts have commented that due to the industrial revolution, the IT sector is the highest growing sector globally. This is because of the growth of advanced technologies like Data Science, IoT (Internet of Things), Cloud computing among many others. These technologies are creating a revolution and are creating lakhs of jobs in India, at present. Now all these technologies require specific skill sets that a lot of freshers seem to lack. Therefore, there is an increasing need for graduates to undergo training to educate themselves. All top software companies like TCS, Infosys, etc. have hired employees at an increased whopping rate of 57% in India, says Trak.in. This is because these skills like data science, machine learning, artificial intelligence, Big Data, AR and VR, etc. are in huge demand. A data scientist fresher can easily earn up to 6 lakhs per annum.
2. Web Development
The various avenues like programming and coding in Python/Django; UI and UX development; to data visualization are going to boom in the upcoming years. Being a full-stack web developer, or a software developer is a very lucrative career option. With the increasing use of blockchain technology for providing more accurate services, the job of a developer is going to be in demand, says an article on The Week. On average, a fresher who gets into web development will make about 4-6 lakhs per annum depending on the company that hires him/her.
3. Digital Marketing
As businesses continue to transform their processes to digital, there has been a sharp rise in the digital marketing job market. Companies like Tata Steel, Schneider Electric, Whirlpool are investing lump sums of money in digital technology, says an article in Economic Times. Therefore, domains like Social Media Marketing, Content Development, Paid search marketing among others have seen a considerable rise. The digital marketing software market is predicted to generate a whopping CAGR of 19.4% in the coming future, and one key contributing factor is social media marketing, says a research report by Global News Wire. The surge in the penetration of the Internet everywhere is a major cause of the growth worldwide. The average starting salary for a fresher would be about 5 lakhs per annum.
4. Management Consultant
Management consulting refers to a practice wherein professionals help organizations improve upon their performance, by addressing their concerns and suggesting enhancements. There’s an escalating demand for management consultants due to improving global economic conditions, says EIN News. The management consulting market is expected to grow over 6.2% during 2018-2025, says a forecast report. Freshers who are interested in joining management consulting are expected to possess skills in consulting, strategy, business strategy, etc. The average salary will be about 8 lakhs per annum.
You have to remember that ‘price doesn’t make deals and salary doesn’t make your career’. Choose a high-paying job of your interest and it’ll pay off sooner or later. Good luck!