With the fast transition in the trends of IT industry, there comes out the new and innovated designations to comply with. These new job profiles are emerging and capturing the market to help the industry sustain in the fast-paced technology market. Here we are going to discuss few prominent and newly invented positions which are capturing the market and making its space in the traditional boardrooms.
Few of these designations existed in the industry, but until now, they didn’t get the recognition. Now due to the changing face of technology, the importance of these designations and their respective areas are coming into existence.
The CRO or Chief Risk Officer can be a challenging job profile. The CRO is responsible for estimating and managing risks for the Organization. Due to increasing complexities of doing competitive business and enhanced regulatory miss-outs, risk management is now at the top of any corporate’s agenda, making the chief risk officer (CRO), a genuine C-suite position.
With high cases of breaching of cyber security, it has altogether become very important to have an authorized designation to support the organization against the risks.
Focused Sectors − Any sector that is regulated, such as banking, healthcare, insurance, technology, manufacturing can recruit a CRO.
Pay − Rs 1.5-2.5 Cr (With a higher fixed component; variable — about 25%).
A data analytics is the newest entrant in the market. It has made its foothold really strong with the entry itself. All the firms have loads of data and now they need specialized people to analyze the same and bring out valuable information from the same. Data Analytics involves insights into a certain dataset and identifying the usage of queries and data aggregation procedures. It requires strong database knowledge.
The entry-level jobs for data analysts are expected to be aplenty since companies across the board, from small firms to larger companies like Infosys are looking to expand their footprint in technology. These jobs will require mathematical and analytical skills.
Focused Sectors − Banking, insurance, retail, healthcare, gaming, travel can pull out huge benefits by hiring a data analyst.
Skills required − For becoming a data analyst, knowledge of any programming language, statistical skills, data intuition and machine learning skills.
Pay − Rs 2-10 lakh for entry-level jobs and Rs 70 lakh to Rs 1.5 crore for senior positions. The soft skills required for this job will be comparable to any other senior level job, such as good spoken and written English and more collaborative skills than an IT professional would need.
Companies are currently struggling to handle the overflow of data they’re receiving – from just everywhere. These companies need professionals who can develop solutions to capture, process, analyze and interpret data to pull out some benefit out of it. The data science is a field that comprises of everything that related to data cleansing, preparation, and analysis. Successful big data scientists will be in high demand and will be able to earn very nice salaries. But to be successful, big data scientists need to have a wide range of skills that until now did not even fit into one department.
Many organizations are struggling to find the right resources who can capture, analyze, build data models, do regression analysis on all the data they’ve got streaming in. With the huge additional cost to maintain these data, they need to filter out the data on the value of it.
Sectors − Telecom, retail, Online, Ad-network, e-commerce, banking, search recommenders, internet searchers and digital advertisements.
Skills required − For becoming a data scientist, knowledge of Hadoop, Python, SQL / noSQL and working with unstructured data.
Pay − For data scientist roles, depending on the scale of the business, the lead salary can vary from Rs 90 lakhs to Rs 1.5 Cr and the mid-managers paid upwards of Rs 50 lakh.
With huge data spread out across, someone is required to study that data. This brings in the scope for Big Data Specialist. Big Data is something that can be used to analyze the insights which can lead to better decisions and strategic business moves.
The profile of big data specialist requires some of the essential skills such as analytical and critical thinking, problem-solving, application of statistical methods, and knowledge of algorithms.
Sectors − Financial Services, retail, communication.
Skills required − For becoming a big data specialist, you need analytical, statistical, mathematical and computer skills.
Pay − Big data specialist starts with the salary package which can vary from Rs 80 lakhs to Rs 2.5 cr depending upon the level.
A cloud architect is a software professional who is usually taking up the responsibility for setting up and managing the cloud computing strategy. This includes cloud adoption plans, application design, and cloud management and monitoring.
To become a cloud architect, you need to have a deep knowledge and understanding of cloud computing and its roles and uses in the marketplace. This also includes the understanding of how the cloud works. It also needs in-depth familiarity of the important technologies that include virtualization, software-defined networking, network infrastructures, physical and virtual storage, data center computing, backup and recovery technologies, disaster recovery and business continuity technologies, and more.
Sectors − Almost in all the domains and industry.
Skills required − You need to have 8-10 years of industry experience to become a cloud architect and the knowledge of key software’s used in the implementation of a cloud.
Pay − Big data specialist starts with the salary package which can vary from Rs 7 lakhs to Rs 1.5 cr per annum, depending upon the level.
With the arrival of new job roles in the market, the existence of the legacy roles has not been cut down. The demand for Java developers, software test engineers, database administrators, network engineers is still booming, although, the responsibilities of these existing roles has become more crucial and complex. Along with taking care of their existing responsibilities, these regular designations has to accommodate the space for niche skills and adapt them in their normal course of work.
With new designations in the job market, comes the new challenges and the sustainability. These new job profiles may bring in the new charm and silver lining but by the next year they will also be added in the list of “normal” job profiles.