Only 3% engineering grads get high-quality tech jobs with packages above Rs 8L: Survey

Bengaluru: To address the gap between skills needed for high-quality technology jobs and work-readiness of graduates, Scaler (a platform by edtech startup InterviewBit) has launched a college-companion programme called Scaler Edge – to boost the employability of engineering students.

Additionally, to meet the growing demand for online skilling courses, the company plans to hire 500 more teaching assistants and mentors in this financial year.

According to industry estimates, 15 lakh engineers graduate in India every year out of which only 2.5 lakh students land relevant jobs in technical domains. Out of those, roughly 2.2 lakh openings are in software, within which a vast majority (1.8 lakh jobs) are in IT services garnering around only Rs 3-5 lakh per annum (LPA) in remuneration. The lack of industry-ready skills is a significant contributor to the current status of employment across the industry.

To address this discrepancy, Scaler is launching a 2-year college-companion programme designed with inputs from top CTOs and engineers across tech companies, to help students build industry-oriented skill-sets and pursue career tracks of the future.

Estimates further suggest that of the available engineering jobs, only approximately 40,000 jobs (for ~3% of ~15L engineers) provide an ideal mix of autonomy and learning potential with packages upwards of Rs 8-10 LPA for freshers. Additionally, of the 3% of graduates that land coveted high paying and high-quality jobs, the majority come from Tier 1 colleges — implying the lack of good quality opportunities for students from Tier 2 and Tier 3 colleges.

The inequity in available employment opportunities across institutions leads to around 12.5 lakh engineers almost every year who have to reroute options and pursue non-technical opportunities to stay afloat.

The course also helps students work on functional projects that can be added to their resumes to highlight their capabilities to future employers.

“In light of industry data that highlights the lack of skills needed for high quality jobs among engineering graduates, we wanted to ensure that students have the best resources available to master industry-oriented skills and improve their employment opportunities. With this at the forefront of our efforts, we devised Scaler Edge. We believe that learning directly from industry experts and getting mentored by those at the forefront of tech innovation in India is essential to creating future tech leaders,” said Abhimanyu Saxena, co-founder, InterviewBit and Scaler Academy.

“We believe that Covid has presented us with a once-in-a-generation opportunity to bring the highest quality of industry-ready live learning from instructors with experience at top tech companies. We are eager to work with the new batch of Scaler Edge students and look forward to learning alongside them through this programme,” said Anshuman Singh, co-founder, InterviewBit and Scaler Academy.

The programme requires no prior experience in technology or coding and is open to students of all streams. The first year of the programme covers foundations in computer science, followed by students selecting a career track in second year, out of the five most coveted fields in Indian technology, namely: data science, machine learning / AI, mobile development, full-stack development, and back-end development.

Over 600 global companies work with InterviewBit for their hiring requirements such as Google, Uber, Amazon, Facebook, Flipkart, Myntra and Dunzo, among others where more than 4,000 students have been placed through the platform thus far.

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