While the Indian economy continues to struggle with low job creation due to lack of new investments and prepares for the tectonic shift on their operations due to the emergence of new technologies such as Artificial intelligence or Internet of things (IoT), some jobs which were traditionally in demand continue to hold their fort even though some of those roles now require significantly new set of skills. Given below are the roles, where demand is expected to outpace the availability of qualified talent.
The Sectors such as automotive, telecom and pharmaceuticals continue to increase their spend on R&D with demand for R&D professionals across levels.
The demand is expected to rise significantly as global organisations continue to establish and expand their captive R&D centres in India
They are competing directly for talent with Indian companies. Engine optimisation, electrical batteries, body engineering are some of the areas with R&D talent is in demand in the automotive sector.
Also professionals with skills in Android and 5G network technologies are being aggressively recruited by telecom players while pharma companies continue to look for R&D talent in cancer, diabetes and cardio.
Depending upon the area of research, an entry-level R & D engineer salary can range from Rs 10-25 lakh, going up to Rs 2-4 crore for a senior R & D leader.
The need for progressive CIOs is growing further as organisations strive to leverage emerging technologies such as AI, Data Mining & Analytics and IoT to automate their processes & generate ROI on IT investments
The demand for such CIOs coming from traditional sectors such as textiles, power, logistics and automotive.
CIOs will continue to be one of the hot jobs in the years to come.
The average salaries for CIOs have moved from Rs 75 lakh to Rs 1.5 crore.
The surge in demand for Head of Product or Chief Product Officer can be attributed to the huge investments which online start-up ventures have attracted in the last 5 years with constant pressure on getting the product right & generating revenue.
The demand for experienced product development professionals has been significant with industry also tapping the expat talent pool from the Silicon Valley.
The Indian startups will also continue to generate demand for this profile, as long as they attract investments.
Salaries for Chief Product Officers can range from Rs 1.25 crore to Rs 5 crore depending upon experience and track record.
The role of Chief Audit Executive (CAE) has become more prominent and accountable, with CEO, CFO & Audit Committee replying heavily on CAE to manage enterprise risks.
More organisations are establishing direct reporting relationship between CAE & Audit Committee, with organisations demanding audit professionals who are conversant with managing Board of Directors, can manage risks and advise management on strengthening internal control environment
Average salary for Chief Audit Executive has gone up to from Rs 75 lakh to Rs 1.2 crore, with large organisations paying their Chief Auditor between Rs 1.5 to Rs 2.5 crore