Thursday, June 12, 2008

Indian graduates worried about finding jobs

A new Accenture study indicates the fresh graduates in India are concerned that the weakening economy will affect their job search. The study based on a global survey of 286 graduating students in India - and of 2,464 in eight countries -, reveals that out of 87 percent of university seniors from India who have started looking for jobs, only half (51 percent) have found one yet.

The fears of a weakening economy have made 36 percent of the students under the study to be willing to adjust their job search criteria by accepting a lower salary; broadening their search by industry or skill area (31 per cent); accepting the first job offer (25 percent); looking for a job in a different country (25 percent); looking for a job in a different city (24 percent); and compromising on job requirements (24 percent).

Engineering, computers and math are the top professions chosen by Indian graduates, while technology consulting, communications, or electronics are the preferred industries/sectors for work.

That 46 percent of the Indian respondents, who were concerned the weakening economy would affect their job search, were far less concerned about the weakening economy than university students worldwide (63 percent), is still a point to cheer about.

Despite the concerns about a challenging job market, many Indian respondents said they would trade off some salary to work for a prestigious company, have interesting work or the opportunity to gain global experience.

The study also finds that more Indian respondents expect to have a full-time job within three months of graduation compared to respondents overall and over half (53 percent) of the India graduates will graduate without any student loans. For most, loans will not exceed Rs 4 lakh

posted by: sajju