IT industry faces severe talent crunch
IT companies in India moaning about scarcity of talent can expect it to get much worse.
By Sudeshna Sen, ET Online |
LONDON: IT companies in India moaning about scarcity of talent can expect it to get much worse – about 40% of Indian MBA applicants for overseas MBAs were from IT, and only 18% say they want to stick on in the industry after an MBA, says a recent study.
Despite the boom in India's IT industry, upwardly mobile Indians are sensing greater benefits outside IT. The QS Applicants Survey shows that 39% of Indians wanting to do an MBA overseas came from IT – and over 50% of those who apply for an MBA do so to switch careers from IT to consulting, financial services, and banking. Aspirations, again, are at an all time high – while India ranked 27th among countries when it came to current salary levels, it ranked 14th in the list when it came to Post-MBA Salary Expectations. Over 4% of applicants expected to earn US$80-85,000 upon completion, far higher than the regional average.
The QS Applicants Survey 07, conducted across 33 countries, covered about 1200-odd applicants in India and is aligned to the QS World MBA tour, a year-long event covering 35 countries with an average of 375 foreign educational institutions.
India, again, rankes highest on sheer numbers aspiring or applying to do an MBA -- there were more applicants from India than from any other country or city in the MBA tour. Says Biren Patel, director, QS Networks, "We have the largest number of events outside of the US in India. And there are about 2000 applicants per city from India, while the average globally is about 1400."QS Networks links undergraduate, graduate, MBA and executive communities around the world with recruiters and education providers, and partners with The Times, London, for its annual World University Rankings, the most-used university rankings in the UK.
The tour has just concluded its summer leg for India, and plans more fairs for the fall admission season. The MBA is seen as a viable option for aspiring Indian leaders to improve their careers and salaries. Combined with the fact that only 26% of Indians consider studying their MBA in their home country, suggests that many managers of the future are being tempted overseas by the lure of higher salaries and career possibilities, the study finds.
Despite the boom in India's IT industry, upwardly mobile Indians are sensing greater benefits outside IT. The QS Applicants Survey shows that 39% of Indians wanting to do an MBA overseas came from IT – and over 50% of those who apply for an MBA do so to switch careers from IT to consulting, financial services, and banking. Aspirations, again, are at an all time high – while India ranked 27th among countries when it came to current salary levels, it ranked 14th in the list when it came to Post-MBA Salary Expectations. Over 4% of applicants expected to earn US$80-85,000 upon completion, far higher than the regional average.
The QS Applicants Survey 07, conducted across 33 countries, covered about 1200-odd applicants in India and is aligned to the QS World MBA tour, a year-long event covering 35 countries with an average of 375 foreign educational institutions.
India, again, rankes highest on sheer numbers aspiring or applying to do an MBA -- there were more applicants from India than from any other country or city in the MBA tour. Says Biren Patel, director, QS Networks, "We have the largest number of events outside of the US in India. And there are about 2000 applicants per city from India, while the average globally is about 1400."QS Networks links undergraduate, graduate, MBA and executive communities around the world with recruiters and education providers, and partners with The Times, London, for its annual World University Rankings, the most-used university rankings in the UK.
The tour has just concluded its summer leg for India, and plans more fairs for the fall admission season. The MBA is seen as a viable option for aspiring Indian leaders to improve their careers and salaries. Combined with the fact that only 26% of Indians consider studying their MBA in their home country, suggests that many managers of the future are being tempted overseas by the lure of higher salaries and career possibilities, the study finds.
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