Indians were found to be willing to spend close to Rs 2 lakh (US $2,500) each year out of pocket for career push, illustrating the growing appetite for upskilling to meet industrial demands. The recently released Emeritus Global Workplace Skills Study 2023 from the professional education platform provided this insight.
In the coming 12 months, 1 in 2 Indians are prepared to pay for a career push for themselves, their children, or their family, according to a study of professionals from a variety of industries in the nation.
Key Conclusions Of The Research;
Even while the poll indicated that 2 in 3 respondents admitted to spending their money sparingly, focusing on necessities like healthcare, medicine, groceries, etc., amid job losses and income cuts abroad, education remained a top priority for Indians.
In contrast to most other countries in the world, where organisations provide the majority of the funding for career push, India’s trend of individuals paying for further education stood out.
What Motivates Indians To Study More?
According to the report, improved work stability, a boost in self-confidence, the development of leadership skills, and maintaining current knowledge of the sector were the primary drivers for Indian professionals to pursue higher education.
The amount of time that professionals devote to career push is another indication of how important lifelong learning is in Indian culture.
According to the report, participants are willing to devote an average of 11 hours each week to continuing their education. According to the Study, the majority of Indians favoured short-duration programmes for upskilling. Professionals in the nation are, on average, willing to commit to a career push programme for approximately five months.
Personalised career plans, guaranteed internships, networking possibilities, and benefits from career workshops, according to the survey, are more likely to persuade Indian customers to spend more for a programme.
About 7 out of 10 respondents thought it was worthwhile to pay more to have one of these extra perks. The ability to pay in monthly installments, cashback advantages, and a promise of a full return were some of the most tempting enrolment benefits, according to the survey.
“The data from the study clearly points out that Indians are relentless in their focus to stay relevant in today’s job market,” said Mohan Kannegal, CEO, India and APAC, Emeritus. Indian professionals are utilising education and upskilling to build confidence and a competitive edge since they are prudent investments, particularly in these unpredictable times.
Study Population And Areas
In order to understand the global workforce’s perception of online education in these uncertain times, Emeritus conducted the third edition of the study through its extensive survey of 6,600 professionals aged between 21 and 65 across 18 countries, including India, Australia, Brazil, France, US, China, UK, Brazil, Mexico, and UAE, among others.
A total of 1,720 Indians between the ages of 21 and 65 who lived in 20 Tier I and II cities in India were surveyed for the study.
The respondents’ average age was 39, and they had an average of 12 years’ worth of job experience.
The Indian professionals who participated in the poll came from a variety of industries, including software and IT services, finance, insurance, education, manufacturing, technology and innovation, healthcare, engineering and construction, and retail.