Years ago, a coveted government job was what most people aspired for, but the trend has changed as students are now looking for a reputed private company job over working in the government sector. The reason is the perks, facilities, good remuneration and professionalism that comes with experience, revealed a recent study by Michael and Susan Dell Foundation.
A total of 43 per cent students prefer a reputed private company job over 37 per cent who desire a government opening. “Salary emerges as the single most important factor of job preference by a significant margin among students, across all categories of courses, and parents,” the study found.
Regarding the remuneration, parents have a higher expectation of salary than their wards. The study found students peg their salary expectations at slightly below their current monthly household income (Rs 21k vs 25k on an average).
According to career counsellor Sumanta Gulati, “Salaries, environment and career growth are the three factors millennials are looking for before joining a company. As government sectors provide stagnant growth, with less professionalism, the GenX are moving for reputed private company jobs.”
The country is going through huge unemployment, which according to the study, is three times more than the overall unemployment recorded since Independence. At present, less than 5 million people are currently employable in the country.
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“Most people believe that over 12 million people enter the labour force in India every year while the data shows actual numbers to be less than 5 million. The youth unemployment rate emerged to be three times that of overall unemployment. Further, nearly 56 per cent of the respondents asserted that their education and/or vocational training was inadequate to improve their prospects of landing a better, high-value job,” said Sabina Dewan, President and Executive Director, Just Jobs Network.