According to a report, 67% of tech recruiters in India are now choosing skills over degrees.
Over the last three years, professionals who have undergone upskilling in India have witnessed over a 126% increase in their salaries, noted a commissioned report by KMPG.
The assessment report also looked into learners' post-placement performance in the companies they joined. There was an observed hike in the average salaries received after joining the new company, at 67.8%, with 31.8% of alumni being promoted in the job they joined post upskilling. For comparison, the average hike percentage across IT jobs in 2021 was 11.2%.
Highlighting the majorly-impacted industries with upskilling gaining momentum, technology solutions saw an intake of 14.1% professionals, financial technologies with 13.9%, e-commerce & retail with 13.7%, and consumer tech, which witnessed the employment of 8.2% of upskilled professionals.
According to the report, the rate of employability of Indian engineers has "not been promising for more than a decade now", with a separate report cited suggesting that nearly 97% of Indian graduates are unemployable.
The report further highlighted the status of skillsets among engineers, with only 3% of the graduates adept in handling new-age skills in areas such as AI, machine learning, data engineering, and mobile technologies. Interestingly, the report also noted that 67% of tech recruiters in India are now choosing skills over degrees, with learners across demographies now recognising the importance of tech upskilling.
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