Fresh graduates entering the job market are always concerned about the growth prospects and career growth in their chosen field during the coming years. These fears are especially warranted when one looks at the nature of global economies and how they have behaved in the recent past. Lay-off's have been common during the recent global economic slowdown. However, there are some jobs and careers that are considered ‘recession proof’. Fortunately for those, training in Information.
Technology (IT) or already in the field after their education, a Career in IT can be very rewarding.
Even during a recession, jobs don’t necessarily dry out. However, expectations in terms of career growth and remunerations may have to be mellowed down a little. Still, due to technology becoming a driver in the growth of businesses, IT technology will continue to grow despite the slowdown in global economies. The year 2015 would be a year for software developers. With changing trends in business process technologies, and more and more businesses turning towards iterative technologies to steer their enterprise, a career in IT can definitely help you reap favourable returns.
Despite the recent economic downturn, where many businesses shut their doors and many people lost their jobs, labour specialists, economists, the associations of colleges and employees report that several businesses are offering signing bonuses and lucrative salaries to attract and retain the best talent in the field of IT.
The median salaries in the IT sector depend on the profile you choose. In India, the average salary for a Senior Software Engineer is about Rs. 613,376. An entrant in the field can expect to earn Rs. 371,088. Project managers in IT have a higher salary band of about Rs 11,79,036 and a Software Developer should hope to earn about Rs 3,47,824 while starting out their careers. Junior Business Analysts in the IT sector have an average salary of Rs 605,604 while a Sr. Software Engineer / Developer / Programmer can hope to earn anywhere between Rs 628,944 to Rs 12,00,000 per annum. These salaries have shown an upward trend, and there is no reason to believe that this trend may falter in the coming years.
With the advent of technologies such as Big Data and cloud computing, more jobs are being created for IT professionals every year. The higher specialization you have, more would be the growth prospects for you. The more experience you have, the more salaries you would be drawing. The career growth is tremendous, and there are opportunities to move to offshore locations as well. A lot of employees have sought positions overseas while working with their Indian companies. This would not only help you get international experience, but would also help you attract higher salaries and give more weight to your resume.
With everything moving to the cloud today, there is no doubt that even web developers would experience a surge in their demand and get better career career prospects. So if you are looking to make a career or advance in IT, this is just the right time because the sector is growing at an unprecedented rate.