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Class of 2020 these job opportunities await you!
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With most graduates facing a dearth of offers and a market that isn’t ready to take them on, the pandemic has perhaps created one of the most fragile economies that the world has seen in decades. It is no secret that the batch of 2020 will be facing one of the most difficult markets to penetrate. In fact, a majority of them are yet to write their final exams and will perhaps face the hurdle of lack of connectivity while doing so. Bearing that in mind, many job prospects for the class of 2020 are dwindling, but new opportunities also await. As they say, when one door closes another window opens!
Back in 2008, when the Great Recession took over the global economy, a similar situation was faced. Many graduates from prestigious institutions were left stranded after the companies rescinded their offers. Today, we see a similar trend emerging, however, the reasons and effects are very different.
In the 2008 recession, the entire market took a major hit. But today, the scenario is much different. Businesses such as tourism, transport, are taking a big hit. The impact on the oil industry, the petrochemical industry has been drastic. The CNBC strips are constantly red when displaying shares of the companies in these sectors. These sectors are in no condition to recruit as they have to first survive the existing crisis.
At the same time, tech companies and programs have seen a significant rise in the market. Back in 2009, all the sectors were suffering some sort of backlash, but currently, the biggest employers are trying their best to keep their fresh recruitment on track. Goldman Sachs, for example, made it to various news outlets after it announced that it would honour all the 1,460 Indian hires and now retract any offers! The fact that employers who stand in a position to keep rolling out vacancies are doing so, in itself shows how this dip in the economy is different from the 2008 recession.
But the fact remains that every major economic event presets challenges for every country, and at the same time ushers a new era of opportunities. New industries sprout, the consumer behaviour changes, and the market begins to change in accordance with the times. The COVID19 crisis will also fundamentally change the way the Indian market works. All the pre-existing industries will be coerced into restructuring in order to be relevant in this new reality.
Here is a list of industries that are already in a position to deal with the new employment trend post-COVID. These upcoming sectors will create larger employment opportunities and bounce back from the recession faster than the others, and perhaps with much greater profits:
The education sector has seen a dramatic change in recent times. The impact has been so profound that the youngest students are feeling it. This new face of education will be more fast-paced, have a wider digital presence, and offer much more flexibility. It will aim to make education accessible to a larger section of the society and will need:
The use of smartphones has increased tenfold in the last decade. Even the governments of the world, including India, have begun to promote digital payments. Online shopping companies are also encouraging the linking of digital wallets as opposed to net banking or debit card payments. Job opportunities will open for:
Content consumption is an industry that always finds a way to move with trending ways. It covers the scope of video, music, gaming, and will witness immense growth in the coming times. Subscription services, streaming services will gain popularity. It will open career opportunities in:
Almost all industries will now push themselves to make a digital transformation. This will require them to create secure payment gateways, security walls, API, and other such programs to steer clear of cybercrimes and financial fraud. This would require the combined expertise of:
There is no question that the e-commerce growth rate post-COVID19 will surpass previous levels. With the rise of internet penetration and data speeds, the emerging economies will see a higher growth rate. Following academic business specializations could prove to be beneficial in this sector:
The delivery of goods and services to customers will play a pivotal role in the new economy. The expansion of the logistics industry will require manpower and fresh minds to propel it forward. These skills can be beneficial for a career in logistics:
As people become more conscious about health, epidemics, and the need to be socially secure, this industry will gain relevance. Individuals will understand the value of insurance against sudden events for health, bankruptcy, natural calamities etc. Overall protection for families and homes will be important. This would require expertise in:
Robotics has always been thought of as a futuristic industry. However, as science and technology advance, the possibility of its application in various fields is increasing. Implementation of robotics for the public as well as the private sector will gain popularity. From security and manufacturing to healthcare and hospitality, robotics will be penetrating many industries. Entry-level jobs in this industry require skills of:
Apart from these job opportunities, a number of other sectors are open to the batch of 2020, such as healthcare, telecommunication, cloud computing etc. will gain popularity.
Graduates of 2020 can focus on the following things to increase their chances of getting placed in the post-COVID world:
Finally, do not lose hope. These times are dark and uncertain but all things must come to an end. Remember, this experience will remain with you for the rest of your life. Brush up the soft-skills you would require in the workplace and grab every opportunity that comes your way!
Here are some more reads that will help you navigate the tricky bylanes of the post lockdown world:
Back in 2008, when the Great Recession took over the global economy, a similar situation was faced. Many graduates from prestigious institutions were left stranded after the companies rescinded their offers. Today, we see a similar trend emerging, however, the reasons and effects are very different.
Why is this different from the 2008 recession?
In the 2008 recession, the entire market took a major hit. But today, the scenario is much different. Businesses such as tourism, transport, are taking a big hit. The impact on the oil industry, the petrochemical industry has been drastic. The CNBC strips are constantly red when displaying shares of the companies in these sectors. These sectors are in no condition to recruit as they have to first survive the existing crisis.
At the same time, tech companies and programs have seen a significant rise in the market. Back in 2009, all the sectors were suffering some sort of backlash, but currently, the biggest employers are trying their best to keep their fresh recruitment on track. Goldman Sachs, for example, made it to various news outlets after it announced that it would honour all the 1,460 Indian hires and now retract any offers! The fact that employers who stand in a position to keep rolling out vacancies are doing so, in itself shows how this dip in the economy is different from the 2008 recession.
What are some new opportunities for the batch of 2020?
But the fact remains that every major economic event presets challenges for every country, and at the same time ushers a new era of opportunities. New industries sprout, the consumer behaviour changes, and the market begins to change in accordance with the times. The COVID19 crisis will also fundamentally change the way the Indian market works. All the pre-existing industries will be coerced into restructuring in order to be relevant in this new reality.
Here is a list of industries that are already in a position to deal with the new employment trend post-COVID. These upcoming sectors will create larger employment opportunities and bounce back from the recession faster than the others, and perhaps with much greater profits:
Online education:
The education sector has seen a dramatic change in recent times. The impact has been so profound that the youngest students are feeling it. This new face of education will be more fast-paced, have a wider digital presence, and offer much more flexibility. It will aim to make education accessible to a larger section of the society and will need:
- Marketing experts
- Digital media managers
- Teachers trained in using digital platforms
Digital payments:
The use of smartphones has increased tenfold in the last decade. Even the governments of the world, including India, have begun to promote digital payments. Online shopping companies are also encouraging the linking of digital wallets as opposed to net banking or debit card payments. Job opportunities will open for:
- Monetary consultants
- Branch managers
- Banking and Finance specialists
Content:
Content consumption is an industry that always finds a way to move with trending ways. It covers the scope of video, music, gaming, and will witness immense growth in the coming times. Subscription services, streaming services will gain popularity. It will open career opportunities in:
- Advertising
- Content creation (writers, designers, photographers, etc.)
- Cinematography
Cybersecurity:
Almost all industries will now push themselves to make a digital transformation. This will require them to create secure payment gateways, security walls, API, and other such programs to steer clear of cybercrimes and financial fraud. This would require the combined expertise of:
- Risk analysts
- Cryptography
- Digital Forensics
- Ethical Hackers
E-Commerce:
There is no question that the e-commerce growth rate post-COVID19 will surpass previous levels. With the rise of internet penetration and data speeds, the emerging economies will see a higher growth rate. Following academic business specializations could prove to be beneficial in this sector:
- Operations
- Strategy and finance
- Information Technology
- International management
Logistics:
The delivery of goods and services to customers will play a pivotal role in the new economy. The expansion of the logistics industry will require manpower and fresh minds to propel it forward. These skills can be beneficial for a career in logistics:
- Business administration degree
- Analytical and organizational skills
- Proficiency in logistics software
Insurance:
As people become more conscious about health, epidemics, and the need to be socially secure, this industry will gain relevance. Individuals will understand the value of insurance against sudden events for health, bankruptcy, natural calamities etc. Overall protection for families and homes will be important. This would require expertise in:
- Consumer behaviour and psychology
- Finance
- Sales and marketing
Robotics:
Robotics has always been thought of as a futuristic industry. However, as science and technology advance, the possibility of its application in various fields is increasing. Implementation of robotics for the public as well as the private sector will gain popularity. From security and manufacturing to healthcare and hospitality, robotics will be penetrating many industries. Entry-level jobs in this industry require skills of:
- Mechanical Engineering
- Computer-aided design
- Advanced physics and mathematics
Apart from these job opportunities, a number of other sectors are open to the batch of 2020, such as healthcare, telecommunication, cloud computing etc. will gain popularity.
Some other things that can be done:
Graduates of 2020 can focus on the following things to increase their chances of getting placed in the post-COVID world:
- Make contacts, reach out to people who have experienced similar problems in the past. Learning from other’s experiences is important.
- Take short-term contracts, hands-on experience will ready you for future challenges you will face in the job market.
- Focus on what is in demand post-lockdown. Incorporate your skillset into the in-demand trends.
- Be flexible, learn to use virtual tools, and push your limits. Every degree has an interdisciplinary value, search on how that can be utilized in the existing market.
Finally, do not lose hope. These times are dark and uncertain but all things must come to an end. Remember, this experience will remain with you for the rest of your life. Brush up the soft-skills you would require in the workplace and grab every opportunity that comes your way!
Here are some more reads that will help you navigate the tricky bylanes of the post lockdown world:
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