Indian graduates rank finance as stable career, show higher interest in AI than global average: Survey

NEW DELHI: Graduates in India and globally ranked finance as the most promising and stable career, the 2024 Global Graduate Outlook Survey published by the CFA Institute found. Out of the 1,000 graduates surveyed in India, nearly 85% of Indian graduates think artificial intelligence (AI), automation are important to the success of their desired career paths, garnering a higher interest than the global average (66%) in embracing AI, the survey revealed.

The 2024 CFA Institute Graduate Outlook Survey was done online from March 19-April 8 by Dynata. A total of 9,916 respondents pursuing a bachelor’s degree or higher, or who have graduated with a degree within the last three years and aged between 18-25 years took part in the survey. Respondents were from the UK, US, India, Canada, Australia, Singapore, Hong Kong SAR, UAE, Germany, Spain, France, Brazil, Mexico, and China.

Margaret Franklin, CFA, President and CEO, CFA Institute said: “As graduates today seek professions that not only promise stability but also resonate with their desires to make a real tangible difference, finance emerges as an industry of opportunity. Our research shows that careers in finance offer the assurance of stability and provide a platform for graduates to support a more impactful future.”

“With new focus on sustainable investment strategies and possibilities for AI to enhance practices, graduates have the opportunity to help shape a more innovative industry through a career in finance,” Franklin added.

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Indian graduates and AI

While there are concerns about job displacements amid the emergence and evolving new technology, Indian graduates embrace AI and show strong interest in adapting to the technological advancements. According to the survey, 69% graduates think learning and knowing how to use AI has a large benefit and nearly 60% graduates showed interest in pursuing a career in the field of AI, indicating a proactive approach to aligning their skills with the evolving industry demands.

Professional certification, upskilling

There has been increasing interest in professional certifications, upskilling and personality training with two-third, 66%, of Indian graduates considering a professional industry qualification as the most valuable in driving their career forward.

73% of graduates consider up-skilling and postgraduate or professional qualifications to be “very important” in today’s job market, 66% consider practical skills, 55% expressed real work experience and 43% choose internships as the other significant attributes that “will give them an edge while looking for a job post graduating”.

Concerns, priorities

Despite embracing the evolving technological advancements, the top concerns regarding career prospects include “lack of jobs (14%) and career progression (9%) in their preferred sector, AI automation replacing jobs (11%), low pay (10%), and feeling unfulfilled or uninterested in their work (8%), rank as top concerns”.

With around 97% noting the importance of making a positive societal impact, the survey revealed that “graduates seek out employers with commitments to purpose, as 53% say that a company’s commitment to environmental, social, and governance (ESG) factors would definitely influence their decision to apply for a job”. The CFA Institute said that a survey conducted on CFA programme found that 88% expressed some interest in enhancing their understanding of ESG considerations in investment decisions.

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Study abroad

Nearly 72% of Indian graduates still choose to go abroad for higher studies, however, the number has declined since 2023 by 8%. Despite studying abroad, Indian graduates also plan to return to India for employment and showed high confidence in career prospects in India.