The year 2024 shows a rise in the layoff of technical employees. Around 32,000 employees lost their jobs due to the ongoing transformation. Artificial intelligence and automation are not the future. But AI is ruling the present in the dialogue of tech-savvy professionals. Advancement is the prime reason behind the technical job layoffs. The customer preference is changing the technological landscape. Transformation is the reason behind the layoff. Software engineers are in constant demand of learning to upskill the relevant skills. The scaling up skills happens in the initial stage of the profession. But, after gaining experience, it becomes difficult to scale up the skills to match the pace of the growing industry.
In 2024, unfortunately, the 12th standard result shows the marks in engineering-related subjects are low. The commerce students have become the centre of attraction because of their marks. The commerce students are performing better than the science and computer science students. The manufacturing and finance industry sees constant growth parallel to the changes in the global market. The software industry is the trending industry with advancements in job roles. The growth factor is comparatively high in the software industry. The ups and downs are part and parcel of the life of software engineers. Due to the prevailing layoff news, students with engineering backgrounds are changing their job profiles as finance or functional consultants.
RR Academy offers professional courses that prepare professionals for leading management roles. The low-profile jobs are sensitive by nature. The high-profile jobs are not sensitive. The professionals working in the management team receive honour from the top management and investors. Choose a career that rewards value and consistent growth. A blog is here to project the latest scenario. The blog intrigues the readers with insight into the 2024 12th standard result, and growth of engineering graduates, B.com graduates and CA/CMA/ACS professionals.
2024 XII results:
In the 2024 State Board XII examination results, only a few students have secured full marks in physics and chemistry. So, the cut-off mark of engineering courses is going to come down. The admissions to BSC computer science and B.com courses may increase in 2024. The colleges are adding more seats to the computer-related graduation courses. The commerce students have secured more centum in the economics and commerce subjects. The cut-off mark for the B.com admission may go up in 2024.
In commerce, the students with centum are 6,142. The previous year’s commerce centum students are 5,678. In economics, the students with centum are 3,299. The centum in accountancy is showing a decrease. The previous year’s record is 6,573 students. The 2024 centum students’ total numbers are 1,647.
Engineering colleges are more numerous than commerce-based professional institutions. There is a demand for commerce and commerce-based professional courses. Institutions like RR Academy offer services to make commerce education popular. Competition in education depends upon the skills of the native place and the demands of the corporate world. The students of Tamil Nadu have skills in the medical, engineering and financial subjects. It is the right time to scale up the skills in finance subjects with the partnership of RR Academy.
Growth of Engineering graduates:
Technology is urging for changes in the system. So, professionals in technical jobs are at the edge of learning new tools and updating knowledge. Layoff news creates a ripple effect on the professionals. Not only in engineering companies but with top companies like Uber laid off around 25 per cent of the workforce. In the UK, there is a rule which says that the employer should disclose the details of roles at risk during the consultation period. Professionals try to find new jobs after receiving the notification from the employer. In an uncertain scenario, it is essential to inculcate formal procedures in the corporate culture. Companies inform the layoff news with the answer to the following questions: what are the reasons for the layoffs? How does the company ensure the plans, and what are the next opportunities for the employees? Engineering graduates and professionals working in software companies are at high risk during the layoff period. Growth and challenges are part and parcel of the engineering profession.
Growth of B.com Graduates:
B.com graduates suffer due to the automation of low-profile jobs. The B.com graduates work in the accountancy and tax departments. The experience in GST operations helps the B.com graduates to work as tax consultants. B.com graduates with experience find it easy to manage the ups and downs in the job market.
Growth of B.com with CA/CMA or ACS graduates:
B.com graduates with CA/CMA and ACS work with the internal audit, external audit and legal department. After completing the professional course, chartered accountants and cost accountants receive comparatively higher salaries than software engineers. The starting salary of a software engineer and chartered accountant is four times higher. After gaining experience, the professionals can work in the top management team, start individual businesses or work in the government departments. The CA/CMA and ACS professionals receive honour and monetary growth in the profession. The finance professionals work as management accountants, treasurers, forensic auditors, and financial analysts, investment advisors, restructuring managers, wealth management professionals, tax consultants, internal auditors, company secretaries and external auditors.
Conclusion:
Interest is the factor that drives the students to medical, engineering, audit and management jobs. Apart from interest, it is the right time to think about the job security. Finance jobs offer growth, honour, and job security. Finance professionals work with peace of mind as the role moves them in the right direction. The new syllabus of CA and CMA creates enthusiasm for working professionals. The reason is the number of subjects, reduction in the period of article ship training, self-paced examination and advance level subjects. Join CA/CMA and ACS courses in RR Academy to visualise consistent growth. Instead of choosing a stressful job environment, it is wise to do a finance course that makes the professional independent and productive.