What the fuck....|Rajat Poonia Rajasthan
WTF...with Engineers
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.
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.
> How is [the situation in China] different than the average liberal arts major in the US expecting the world at their doorstep just because they have a useless degree that prepares them to do nothing more than work as a part-time retail clerk, 25 hours a week, dumped into the Obamacare system?
After growing at an astronomical rate for years, the cost of education is going to plunge. Job statistics will force that outcome.
Job Problems...
Jobs have, however, failed to keep pace. "The entire ecosystem has been built around feeding the IT industry," says Kamal Karanth, managing director of Kelly Services, a global HR consultancy.
..Trickle Down
This muddled equation is now showing signs of social and economic strain across the country. Frustrated engineers are taking jobs for which they are overqualified and, therefore, underpaid.
A few exceptions have even turned to crime. According to media reports, Manjunath Reddy, a civil engineer, turned to chain snatching in Thane, a suburb of Mumbai, to support his young family. While he used some money to buy a small flat in peripheral Mumbai, his failure to net a job drove him to crime, he told the police when caught.
Like him, another engineer in Aurangabad turned to car lifting as a route to easy money. "The social aspect of this massive under-employment and unemployment will soon be witnessed," warns Pratik Kumar, HR chief of Wipro and chief executive of its infrastructure engineering unit.
"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."
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.
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.
> How is [the situation in China] different than the average liberal arts major in the US expecting the world at their doorstep just because they have a useless degree that prepares them to do nothing more than work as a part-time retail clerk, 25 hours a week, dumped into the Obamacare system?
After growing at an astronomical rate for years, the cost of education is going to plunge. Job statistics will force that outcome.
Job Problems...
Jobs have, however, failed to keep pace. "The entire ecosystem has been built around feeding the IT industry," says Kamal Karanth, managing director of Kelly Services, a global HR consultancy.
..Trickle Down
This muddled equation is now showing signs of social and economic strain across the country. Frustrated engineers are taking jobs for which they are overqualified and, therefore, underpaid.
A few exceptions have even turned to crime. According to media reports, Manjunath Reddy, a civil engineer, turned to chain snatching in Thane, a suburb of Mumbai, to support his young family. While he used some money to buy a small flat in peripheral Mumbai, his failure to net a job drove him to crime, he told the police when caught.
Like him, another engineer in Aurangabad turned to car lifting as a route to easy money. "The social aspect of this massive under-employment and unemployment will soon be witnessed," warns Pratik Kumar, HR chief of Wipro and chief executive of its infrastructure engineering unit.
"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."
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