With rapid urbanisation and the dire need to put India on the global infrastructure map, the sector has witnessed a fast-paced growth in recent years. The coming years are expected to accelerate the growth of infrastructure development further. If you are planning to pursue a career in this field, then now is the time!
In fact, infrastructure development management has emerged as a niche career option among students, especially for those who are enrolled in an MBA programme. If you still have apprehensions about pursuing a career in this sector, here is what you need to know.
- Bright Career Prospects
India is set to become the third-largest construction market in the world by 2022. Its real estate market will also grow to USD 650 billion by 2025, surpass USD 850 billion by 2028 and touch USD 1 trillion by 2030. The Indian government has allocated Rs4.56 lakh crore and launched several schemes to push the progress of infrastructure projects. This will lead to a surge in the activities in the infrastructure sector resulting in increased employment opportunities.
- Versatility of Careers
Infrastructure is divided into sub-sectors such as real estate, energy, dams and bridges, rail/road/air transport, renewable energy, smart cities, sewage system, telecom, agriculture, defence to name a few. Within the sector opportunities exist in the fields of contract management, project management and project finance management and project consultancy management.
- Career Advancement Opportunities
The infrastructure sector is so vast that you will never face any career stagnancy or boredom. Every project is different in size, nature and deadline from another. You can carve your career path in both vertical and horizontal domains of the sector, depending on your interest and expertise. As you begin to gain experience, there are more chances of moving to higher positions.
- Job Stability and Security
The infrastructure industry is a continuously growing sector. As the population of the world increases with changing demographics, there will always be more demand for housing, power and other infrastructure amenities. This industry is relatively more insulated from recession. In worst case, governments are known to have stepped in to provide a booster dose. There is very less likelihood of recession or downsizing in this sector. Hence, you can rest assured of job stability and security.
- Career & Compensation
The employers are ready to pay lucrative salaries and perks to encourage talent to work for them. Also, since the sector is very dynamic, requiring the professionals to upgrade their skills and adapting to changing trends with agility and constantly, they get paid handsomely at any point in career graph.
- Meaningful Career
The infrastructure sector is all about building new things, making lives of people better, creating a “Happy” community and leading the country’s economy towards a progressive growth. At the end of the day, when you look back at your work, it gives you a sense of pride and joy. The infrastructure sector is currently facing a shortage of trained people. SCMHRD to trains its students to “ready to go” within a a week of joining the programme. As techniques & technologies are upgraded, employees need to adapt themselves. Compesation is rarely an issue for the right candidate. The most gratifying part of a career in this sector is the joy of creating, making a difference to people’s lives and contributing to it.
- Travel and Offshore Career Opportunities
Infrastructure projects aren’t restricted to one city or country. If you have the right profile, then you can be hired for transnational projects. You not only get opportunities to travel and explore new places, but also increase your networking list of contacts. International work experience on your resume can be a stepping stone to landing a job with a foreign company in another country. Global experience gives you the leverage to demand better salary and employability terms and conditions which makes you eligible for better compensation & benifits.
- Entrepreneurship Opportunities
If you are someone who believes in taking risks, being your own boss and do social good, then a career in infrastructure entrepreneurship is perfect for you. These days, several people have taken a plunge into entrepreneurship to design smart, affordable and technology-driven solutions for infrastructure sector. There is a demand for entrepreneurs who can create futuristic, economically, socially and environmentally sustainable infrastructure solutions. Another area where you can think of building your career.
There is no doubt that a career in infrastructure development management could take your professional growth on the next level.
Authored by Dr. Pratima Sheorey, director, Symbiosis Centre for Management and Human Resource Development, Pune