Indian Graduates Show Strong Interest in AI Despite Apprehensions About Job Disruptions: 2024 Graduate Outlook Survey

Out of the 1,000 graduates surveyed in India, 39% expressed confidence in the finance sector, marking a seven percentage point increase from the previous year's survey.

A new survey by the CFA Institute reveals that nearly 10,000 university students and graduates are optimistic about their career prospects despite the rise of AI in the job market. The 2024 Global Graduate Outlook Survey indicates a strong interest in AI among respondents in India and worldwide, even as concerns about job displacement persist.

Out of the 1,000 graduates surveyed in India, 39% expressed confidence in the finance sector, marking a seven percentage point increase from the previous year's survey. This confidence extends beyond finance, with nearly 90% of Indian graduates feeling positive about their future career prospects, significantly higher than their counterparts in the US (70%) and UK (68%).

Margaret Franklin, CFA, President and CEO of the CFA Institute, commented: "As graduates seek professions that promise stability and impact, finance emerges as an industry of opportunity. Careers in finance offer stability and a platform for graduates to support a more impactful future. With a focus on sustainable investment strategies and AI enhancements, graduates can help shape a more innovative industry."

Arati Porwal, Country Head – India, CFA Institute, added: "The survey results are encouraging, with graduates showing optimism about their future careers. Their dedication to continuous learning and professional development aligns well with the industry's needs and national skilling initiatives."

Embracing AI Amid Apprehensions

Indian graduates are proactively adapting to AI's integration into the workforce. The survey highlights that nearly 85% of Indian graduates consider AI/automation essential for their career success, surpassing the global average of 66%. Furthermore, 69% believe that learning AI skills offers significant benefits, and nearly 60% are interested in pursuing AI-related careers.

Evolving Employability Strategies

Graduates in India are increasingly valuing professional certifications, personality training, and upskilling to enhance their employability. Two-thirds (66%) consider professional industry qualifications vital for career advancement. Additionally, 73% of graduates emphasize the importance of upskilling and obtaining postgraduate or professional qualifications.

Practical skills (66%), real work experience (52%), and internships (43%) are also viewed as crucial for gaining an edge in the job market.

Career Aspirations and Concerns

While Indian graduates show increased confidence, some concerns persist. Issues like job availability (14%), career progression (9%), AI automation (11%), low pay (10%), and job satisfaction (8%) remain relevant. Despite these concerns, 97% of graduates value making a positive societal impact, with 53% considering a company's commitment to environmental, social, and governance (ESG) factors in their job search.

Sources of Career Information

A notable trend from the survey is the shift towards social media as a primary source of career advice, with 60% of Indian graduates using it for information, higher than the global average of 44%. Other sources include friends (53%), family (47%), college professors (46%), and career guidance professionals (43%).

Global Education and Employment

Despite a slight decline in the number of graduates studying abroad (72% in 2024 from 80% in 2023), a strong preference remains for returning to India for employment. Over two-thirds of these graduates express confidence in their career prospects within India, demonstrating a commitment to leveraging global education while seeking opportunities at home.

The 2024 CFA Institute Graduate Outlook Survey was conducted online from March 19-April 8, 2024, with 9,916 respondents aged 18-25, studying or having graduated within the last three years, from countries including the UK, US, India, Canada, Australia, Singapore, Hong Kong SAR, UAE, Germany, Spain, France, Brazil, Mexico, and China.