New Delhi, India, March 3, 2014: Less than 10% students aspire to work for start-ups, according to the latest Aspiring Minds National Employability Report, Engineering Graduates - 2014. Though the start-up landscape in India has witnessed some credible success stories and investment, it is not yet attracting fresh talent.
“Entrepreneurship and startups are a fundamental part of India’s growth story. With less than 10% engineers interested in working for startups, startups need to do more to reach out to our student base with benefits, excitement and growth they can offer. AMCAT is helping over 500 SMEs and Startups get access to high quality talent from across the nation. A lot more effort can be done here,” said Himanshu Aggarwal, Co-founder and CEO, Aspiring Minds.
The report surveys 15,000 engineering students (2013 batch) across India, on three major areas: Job preferences, Role expectations and Salary.
1. Job Aspirations
More than 60% students are interested in large companies, whereas less than 10% consider start-ups. But, students from lower tier institutions prefer start-ups, probably because they think it is in their reach.
Females aspire to work in large companies more than males.
2. Role Aspirations
Software jobs continue to rule as the most lucrative option for engineers. Options in technical sales, marketing and content development are yet to attract interest of engineers at large.
92% students in core engineering want a job in their domain as opposed to software engineering. This is concerning both due to low employability of students in these jobs (7.49%) and the lack of such jobs in the market.
Males are open to both software and core engineering roles but, females prefer software roles. A greater percentage of females aspire for managerial positions compared to males.
While engineers from tier 1 prefer software development and managerial roles, tier 3 is more inclined towards core engineering.
3. Salary Aspirations
Despite a general trend of higher salaries in software roles, core branch engineers aspire for higher salaries.
Major difference between aspired salary of engineers from tier 1 and tier 2 colleges (Rest. 43000) compared to tier 1 and tier 3 (Rest. 71000).
Females on an average aspire for higher salaries than their male counterparts.
About Aspiring Minds:
Aspiring Minds is India’s leading employability solutions company, headquartered in Gurgaon. Aspiring Minds offers scientific assessments with an innovative large-scale sourcing model analogous to a GRE-for-job concept. The state-of-the-art assessment tools developed by Aspiring Minds have been used across industry verticals to help recruit the right people, develop profile-wise employability benchmarks and assess workforce health.
Aspiring Minds’ intelligent adaptive assessments span across Language, Cognitive skills, Domain knowledge and Personality. A strong in-house research and development team with alumni from IITs and MIT form the development back bone of the patent pending assessment tools.
AMCAT™ - the flagship product is India’s Largest Employability Test. Conducted across the country throughout the year, AMCAT has been taken by over 1,000,000 candidates in 3000+ campuses, spread across 25 states. Tens of thousands of candidates secure their dream jobs every year through AMCAT.
Powered by a highly dedicated management team drawn from the IITs and IIMs, over 225 full-time employees, and a pan-India operational presence, Aspiring Minds has helped leading brands across verticals to improve their recruitment process efficiency and the quality of talent they hire. Aspiring Minds products and solutions have been adopted by leading corporates across sectors.
For more information log on to www.aspiringminds.in