Opportunities for Employment for New Graduates in 2023-24

Finding the emerging industries with the best job prospects in today's rapidly changing workplace may be challenging for recent graduates or professionals in the early stages of their careers. However, watching the market to make wise career decisions is essential. As a result, we've compiled a list of the most promising emerging sectors that will provide many opportunities for new graduates to start their careers in 2023–2024.

These sectors range from those with rapidly evolving technology to those that are growing and adapting to the changing needs of the world community. So let's look into it and investigate! 

Artificial Intelligence (AI) & Machine Learning (ML)

• Healthcare, finance, transportation, and customer service are just a few industries being altered by artificial intelligence (AI) and machine learning (ML) technologies. Data analytics and Computer science graduates may find employment developing AI algorithms, implementing ML models, or analysing massive data sets. AI & ML are among India's most in-demand career possibilities as more firms strive to adopt these technologies to stay competitive. As businesses across the country increasingly rely on these technologies to add value for their customers, Jobs in AI and ML are highly sought after.

Renewable Energy

With an emphasis on developing solutions for renewable energy sources, it is projected that the Renewable Energy industry will continue to expand significantly. Due to the push for a greener economy and the need to reduce carbon emissions, there is an increasing need for specialists in this area. 

• If you have experience in engineering, business, or environmental science, you may have opportunities in geothermal, solar, or wind energy sectors. Salary ranges in this field are influenced by training and experience. Solar engineers typically make roughly Rs. 540,000 annually, while wind turbine technicians make an average of Rs. 359,000 annually, according to Glassdoor. 

Entry-level employees, such as solar PV installers or operations and maintenance personnel, can earn between Rs.200,000 and Rs.400,000 annually. Project managers in the renewable energy industry can make between Rs.900,000 and Rs.2,500,000 annually.

Blockchain

Demand for blockchain expertise is rising in India as more businesses and startups embrace this technology to improve security and optimise operations. According to NASSCOM, the blockchain industry in India is expected to grow at a rate of 35% by 2025, creating a significant opportunity for job generation. If you're interested in the industry, a few vocations in great demand are blockchain developers, architects, analysts, project managers, and researchers. 

• Recent graduates must have the necessary skills, certifications, and job experience to compete in this rising employment market. Ethereum Developer Certification, Blockchain Developer Certification, and Smart Contract Developer Certification are a few proposed programs that could aid candidates in gaining the needed abilities. 
• The benefits of internships and working on blockchain projects include exposure to the real world, the development of practical skills, and industrial experience.

Digital Marketing

The area of digital marketing in India is expected to have tremendous job development. According to KPMG, the Indian digital advertising market is expected to reach Rs 539.5 billion ($7.1 billion) by 2024, growing at a 32% CAGR. This shows a rising demand for knowledgeable people with digital marketing experience. If you're interested in a career in digital marketing, look into becoming an SEO specialist, social media manager, or digital marketing manager. Digital marketing managers make between Rs. 5,00,000 and Rs. 12,00,000 per year, SEO specialists make between Rs. 2,40,000 and Rs. 5,00,000 per year, and social media managers make between Rs. 3,00,000 and Rs. 8,00,000 per year.

Average Pay for Different Roles

The average annual income for AI and ML engineers in India is Rs. 7.4 Lakhs, with salaries ranging from Rs. 3.7 Lakhs to Rs. 25.8 Lakhs. Depending on the business and level of expertise. The key AI & ML roles, together with the typical salaries they command, are listed below.

AI/ML Engineer: AI/ML engineers use AI & ML technology to create cutting-edge solutions for various sectors. In India, an AI/ML engineer can expect to make an average of between Rs. 5-7 LPA.

Data scientists examine and optimise massive databases to support commercial decision-making. In India, a data scientist may expect to make between Rs. 10 and 12 LPA on average.

Cybersecurity: There is an increasing demand for cybersecurity specialists in India due to the rise in cyberattacks and data breaches at numerous firms. A DSCI-Nasscom report estimates India will need a million more cybersecurity workers by 2025. Businesses in India are working with educational institutions to promote cybersecurity as a job and offer students training, making it a more appealing choice for a career.