Education industry was the lone bright star in the year gone by

Education industry was the lone bright star in the year gone by

Education industry was the lone bright star in the year gone by
Enough of land slide in stock markets, rising prices of essentials, eroding margins, credit crunches, cost of finance, real estate crashes, evaporation of investment banks and loss of salaries. Pallavee Dhaundiyal Panthry opens the new year on a positive note outlining the growth of the education industry in otherwise bloodbath-2016

V K MENON , SENIOR DIRECTOR - CAREERS, ADMISSIONS AND FINANCIAL AID, ISB, HYDERABAD: Higher education is at an embryonic stage and will have exponential growth in years to come. We live in an age of specialisation. The right fit to the right job needs specific skill sets. Such matching skill sets are in high demand. Their availability is low.

Let us look at an example. Let us take a hospital chain which wants to grow pan India. People with the classical management skills, like strategic planning, positioning, finance, marketing, technology etc are required. Ideally they should also be doctors. Now, there are not many doctors who have done their post graduation in management.

Thus, there is a demand built up for this category. If we look at the current batch at the ISB, there are 10 doctors in the programme . They will be in high demand, not only in the healthcare sector, but also in sectors like pharmaceuticals , medical devices etc. This is how the demand for a particular talent set grows. The same is true for many other sectors.

Over the next few years we can expect the supply side to catch up. There will be many more players in higher education. The less efficient providers of higher education will find the going tough and like in any other competitive market, quality will be the determinant of success in this field. Many higher education institutions are waiting for the new policy to be announced to finalise their plans of entry into this market.

Overall, the year 2016 saw reasonable growth in this sector, though it was a difficult year for many. Job losses were common. Some of them took the opportunity to re-skill themselves and get into work areas of their choice. MBA offers one way of changing your career track. In an uncertain job market, many were reluctant to leave their jobs for an MBA program. Internationally, this impacted admissions quite severely but not much in India. I anticipate substantial growth in demand for good post graduate programs in 2016 and some years to come.

OM PATHAK , CHAIRMAN, DPS GHAZIABAD AND TEACHERSITY

2016 was an aftermath of 2016, when hiring was down and many of these graduates could not find suitable openings. The enrolments in 2016 were comparatively poor and did not reflect the YOY growth that higher education had in the past. But 2016 seems promising. Indian economy, despite the global meltdown grew at a fairly decent rate if not the much hyped 9 %. The recruiters are already back to work and companies have already started to hire.

We expect a robust growth in numbers in the coming academic year 2016. There is an awakening to the need of building quality in higher education. The government is getting serious and the institutions like the UGC and AICTE would have to ensure that the institutions of higher education provide quality learning and prepare students for careers. 2016 would see a paradigm shift in this regard.

Though conventional courses in engineering, say mechanical, electrical , chemical or electronics still remain preferred options, but there is now growing demand for civil and environment disciplines in engineering . MBA will no longer be confined to finance, marketing or HR, there is growing demand for specific domains like health and hospitals, energy and petroleum, transport, retail, insurance etc. Finding quality teachers in higher education will be our biggest challenge and we may have to attempt major policy reform in this area.

NINAD KARPE , MD AND CEO, APTECH

With the spread of basic education beyond urban and semi urban areas, growing competitiveness and a significantly large number in K-10 , K-12 studies, the higher education, notably, degree, post graduate degree had to spread. A significant number is also driven towards vocational courses, which would guarantee an employment etc. Also, with the rapid rise of education loan facilities, access to higher education is on the rise.

Talking about IT industry, it is out of the woods and companies have started to hire again. Many new job opportunities are being created for professionals with special skills such as mastery in newer technologies. An example is cloud computing-where industry observers mention that around 3 million jobs will be created over next five years.

Beyond IT, I believe Indian corporate are waking up to the reality of globally adaptable smart soft skill trained professional and thus a whole new breed of courses have sprung up training the young and new manager in international readiness of the corporate culture. The service industry - hospitality, aviation management, travel and tourism will flourish.

ATUL CHAUHAN , CHANCELLOR, AMITY UNIVERSITY

More people turned towards higher education in 2016, but not because of recession as India was the least affected by the downturn. Now, people know the importance of upgrading themselves with new skill sets. The year 2016 should see more aspirants of higher education as higher education talks about practical aspects of learning, which is must for growing relevant heights in life. I believe the subjects of 2016 year will be banking, telecom and nanotechnology .

SANTOSH CHOUBEY , CHANCELLOR , DR . C. V RAMAN UNIVERSITY

The year 2016 saw varying demands across various segments of higher education. While there was a definite slack in engineering and technology education, a higher percentage of students opted for graduate and post graduate programmes like BCA, B Com and M Sc information technology. Demands for specialised diploma programmes like animation, rural marketing and retail management were on the increase. Considering the industry scenario and needs, I think there is bound to be an increased demand in the insurance and financial management sectors as well as in core engineering programmes like civil, electrical and mechanical.

Another emerging industry which requires special skills is the entertainment industry and this too shall see a growth in the year ahead. When it comes to management education, institutes (apart from the top BSchools ) offering generalised MBA programmes remained largely vacant in 2016. However, those offering specialised MBA programs like hospitality, retail, insurance and risk management, media and rural among other streams sustained their growth. In medicine, there is a large gap between the demand and number of seats available. 2016, as any other year, saw medicine and dentistry in demand. Until the procedures for setting up medical colleges are simplified , this gap will continue. I think 2016 will be a year of specialised courses see more focus on choices.

VINEET GUPTA , DIRECTOR, JAMBOREE

There was a slight decline of aspirants for courses like MBA which require high investment for students were hesitant to make investments in an uncertain job market. There were also less students wishing to study a mater's degree abroad. Number of students for bachelor's degrees continued to remain high. This year, demand for master's courses will increase as companies are again hiring . Job market is looking robust for 2016. The specialised areas in demand will be biotechnology, construction management, internet marketing and entrepreneurship.

S R DUGAL , CHAIRMAN, INSTITUTE OF CLINICAL RESEARCH INDIA

Definitely I see more students stirring towards higher education in the coming year. With an increasing demand for specialised knowledge accompanied by the rapid annual economic growth rate there has been considerable improvement in higher education scenario of India in 2016, both in quantitative and qualitative terms. More students are aiming towards a better education, especially in fields such as clinical research and healthcare management which were initially less explored a decade ago.

The need for highly qualified personnel in tune with a good understanding of global standards calls for a demanding and challenging curricula. Talking about the demand of the industry in 2016, it seems that healthcare would be the new buzzword now. If you're tapping into the healthcare job market as you navigate on your career path, you've chosen one of the fastest growing industries in the labour market.

As for 2016 we have many things in mind. We would be introducing various new courses which will help the students to understand and implement new things in this sector. Also we plan to recruit around 6000 students for various courses offered compared to the 4000 we did in 2016. We want to provide a larger platform for students to achieve their goals.

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Comments   

# Nishith 2017-04-17
Hello sir, I am 3rd year B.com student, I want to pursue MBA from Thiruvananthapuram,Please suggest top B-School over there.
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# Shruti 2017-04-18
Hello, after b.com, MBA will be the right career option, you can find here the list of good B-Schools in Thiruvananthapuram- MBA in Thiruvananthapuram
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