Given the never-ending announcements of job or salary layoffs, many businesses have restricted the further recruitment process for 2020. Such appalling situations have arisen due to the severe effect of coronavirus pandemic. However, amid all the employment upheaval, the technology sector is comparatively at a better place. Many CEOs and business leaders have even pledged for no layoffs while certain companies are still hiring tech-professionals spanning various touchpoints – Artificial Intelligence, Robotics, Big Data, Internet of Things (IoT), Cybersecurity and Augmented Reality and Virtual Reality.
Analytics Insight has observed that despite all the unfavorable scenarios, these technology markets across various regions are open to new recruits that too with handsome pay. Countries like the United States, the United Kingdom, Canada, and India are offering a great pay scale to technology professionals.
Average Salaries Across Different Regions
Analyzing the average salaries offered to these candidates in the aforementioned nations in 2020, we observed that in the US the average salary of an AI professional is predicted to be US$1,14,061 per annum. The average pay of a Robotics professional is US$74,587 per annum while that of a big data candidate is US$1,03,214 per annum. The IoT, Cybersecurity, and AR/VR professionals are more likely to get average pay of US$1,01,541, US$85,422, and US$97,549 per annum respectively.
Across the Canadian technology market, we observed that candidates with considerable Artificial Intelligence qualifications are more likely to receive a pay of US$89,934 per annum while those with Robotics knowledge are eligible to get an average salary of US$52,130. Comparing the Big Data and IoT salaries, professionals with great data-driven training are expected to get US$89,107, whereas, those having apt knowledge of ethics and working of connected devices are eligible to receive US$72,897 per annum. The cybersecurity candidates can earn US$45,804 per annum in the Canadian region and professionals with creative abilities to enhance the AR/VR industry are more likely to get US$49,174 per annum.
Analytics Insight observed that across the UK, professionals with better big data efficiencies are expected to earn the highest in 2020. Big Data industry in the region is readily offering a handsome amount of US$69,992 per annum. Where AI professionals are predicted to earn US$64,608 per annum, Robotics professionals can easily grab an opportunity worth US$46141 per annum. The IoT, Cybersecurity, and AR/VR candidates are expected to earn US$55,335, US$64,190, and US$49,699 per annum.
Now analyzing the market of India, we have concluded that the AI industry in the nation is offering around US$13,215 per annum, and Robotics and Big Data industry is readily accepting candidates with average salaries US$22,101 and US$12,576 per annum respectively. The cybersecurity professionals are expected to earn comparatively more than IoT and AR/VR professionals. Professionals with considerable cybersecurity aptitude are eligible to get US$11,428 while those with IoT and AR/VR qualifications can easily grab offers worth US$9,349 and US$8,352 per annum respectively.
Global Skill Gap
However, despite all the monetary luring and big scale investments, technology companies are not able to get the right talent to drive their organizational success in the contemporary market. One of the major reasons behind their failed efforts is the skill gap.
Many computer science students who are undeniably efficient in their core arena are barely eligible to touch the new technologies including Artificial Intelligence, Big Data, and others aforementioned. This can be due to the lack of hands-on knowledge provided by the institutes or lack of awareness and loopholes in their education pattern.
The analysis presented by Analytics Insight on Global Skills Gap depicts that AI (66%), cybersecurity (64%), and IoT (62%) stand at the top three positions with the highest percentage of the global skill gap. Where the global skill gap for Robotics is around 60%, AR/VR industry is facing a 61% skill gap in 2020. Big data industry with the least percentage (58%) scores the last position in this enlisting.
And as the world navigates through the perils of fatal coronavirus pandemic and several nations are under lockdown, professionals and students can take great advantage to this quarantine situation. As an aftermath of the current pandemic, it will become even harder to grab the right job opportunity in the technology sector.
Therefore, utilizing the free time, they can prepare themselves for the post-pandemic landscape and get their desired job with a great pay scale while contributing to closing the prevailing skill gap.