upGrad records 567% hike in CTCs
UpGrad, an edtech platform, reported in its annual report that this year’s greatest increase in annual CTCs, or cost to the company, was roughly 567%. This rise for the Master of Business Administration degree was noted in the quarters of October, November, and December (MBA). According to upGrad, the most popular field for recruiting by recruiters is MBA, which is followed by Data Science, Machine Learning and Artificial Intelligence, and Digital Marketing, in that order.
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The com’any’s research also showed that the top hiring destinations in India include Bangalore, Mumbai, Mumbai, Hyderabad, Pune, and Chennai. Phalgun Kompalli, co-founder of the edtech platform, commented on this data by saying, “We do in-depth domain research and market analysis before we create our curriculum in collaboration with academicians and industry professionals. We can more easily determine employment patterns and then develop projects that will provide our students with realistic hands-on training. One of our greatest assets has been this.
Additionally, Kompalli disclosed that businesses are favouring applicants who have a mix of corporate experience and domain-specific training. He explained that the cycle time for them (the businesses) to become productive is much shorter with these people than it is with new personnel, which in turn keeps a lid on the payroll expense with greater ROI.
upGrad
Additionally, upGrad stated that in 2022, 10,000 people completed various courses through it and graduated. According to industry estimates, professions connected to data science are among the most sought-after tech jobs globally and are projected to be the third highest paying. By 2026, they are predicted to produce 11 million new jobs. Ronnie Screwvala, Mayank Kumar, and Kompalli created upGrad in 2015.
San Francisco, New York, Washington, London, Singapore, Dubai, Jakarta, Vietnam, Sydney, Melbourne, and Nairobi are the other locations of its international offices. It paid Rs 300 crore to acquire Harappa Foundation, another edtech startup, in July of this year. Additionally, upGrad declared its intention to allocate $30 million for offline growth and the opening of 10 new campuses in 2023.
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