upGrad records 10,000+ graduates in 2022; highest CTC hike rose to 567%
Mumbai : Asia’s largest higher edtech company upGrad continues with its growth spree as 10,000+ learners have completed their online courses with its domestic and international university partners and graduated in just one calendar year. The year also witnessed the highest CTC hike of 567% during October-November-December (OND) within the MBA domain.
According to upGrad Data Labs (an internal arm of producing industry & company-specific data-driven reports & insights), MBA remained the most preferred hiring domain for recruiters during the year followed by Data Science, Machine Learning and AI, and Digital Marketing, respectively. The trends can be traced back to the rising demand for data-skilled professionals and individuals who demonstrates the right set of leadership skills and business acumen. The data further revealed that Bengaluru, Delhi and Mumbai, in that order, topped the recruiting charts while Hyderabad, Pune and Chennai were amongst the next popular hiring locations.
“We perform in-depth domain research and market analysis before we design our curriculum in partnership with industry leaders and academicians. It becomes easier for us to assess the hiring trends and then accordingly create projects that will empower our learners with accurate hands-on training. It has been one of our biggest strengths,” said Phalgun Kompalli, Co-founder, upGrad. “Another core differentiating point would be our mentors who shadow learners throughout their module and monitor their learning progress. They are extremely prompt in nudging them at frequent intervals to ensure learners complete their assignments and exams on time. Our focus has always remained on driving career outcomes and hence, these y-o-y numbers just help us with adequate adrenaline to work harder,” he added.
upGrad during the same year facilitated placements for over 1200 learners into the MBA domain, thereby dispelling several stereotypes associated with online education. Additionally, as per industry estimates, Data science-related job roles are one of the most in-demand tech jobs worldwide and are estimated to be the third-highest paying; expected to create 11 million jobs by 2026.
“In the last few years, the demand for upskilled talent is on a rise. Companies are getting more agile in providing opportunities for upskilled talent since they have a unique combination of corporate exposure & domain-based qualification. The cycle time for them to get productive is significantly lesser than a fresh talent, and hence, it keeps a check on the payroll cost with better ROI. The online customer acquisition channels help companies create a reach, much faster compared with the traditional channels, and this will keep pushing the demand for digital marketers. The industry will face a challenge hiring experienced professionals with the growing demand for data scientists, AI & ML specialists or data analytics,” concluded Co-Founder & Head of Placements at upGrad Rekrut.