Digital Labor Market, specialties competition race and financial basket shaped: why you should choose engineering and technological education

Digital Labor Market, specialties competition race and financial basket shaped: why you should choose engineering and technological education

Armenian labor market is in the sphere of immediate influence of Information Technology. IT sphere and employers somehow dictate the development road of the labor market. This is good for our country as we have potential and global market but on the other side, there are many problems and actions to take. IT sphere is attractive because of its salary rates, social packages and salary format. Therefore, less youth is keen on scientific research as it is not so attractive for them.
The dynamic growth of IT makes it difficult for more traditional spheres to prosper, including finance and banking or recruitment processes.

If university graduates or youth that studied in foreign countries some 10-15 years ago wanted to work in banking or consultation, currently they prefer IT. Flow of specialists from other professions to IT sphere is rather tangible.

The scarcity of experienced specialists in technologies and dynamic growth pace of projects make companies to artificially increase the salaries of IT specialists in the company that creates tangible difference between the salaries of IT and non-IT specialists.

On the other hand, thanks to the tangible influence of IT, in the last 5-10 years, positive changes occur in other sector’s employers. For example, the transition from personnel specialist to human resource specialists, change of workplace format, Agile approach application at workplaces, and these are just a few to mention from these positive changes.

In the first quarter of 2020-2022, IT continues its dynamic development establishing new workplaces and the companies will continue to be leaders increasing their activities by 4-6 points.

Enthusiasm and inclusion of provincial towns in the context of development is in the limit of 7-8%. The growth of provincial activity is connected with the digitization of Armenia’s labor market and any change in the sphere will lead to growth of provincial towns.

It is possible to make changes in the context of most demanded specialties but growth in the sphere of programming, sales and service will again rise from 2022, taking into account the activities of IT and Import/Export/Trade spheres.

Deficit will grow in line with demand of programming specialists and such condition will be in the development of Digital marketing, Data Science, Product Development, Project Development and professions emerging from the fourth industrial revolution.

In the context of salaries: the dynamic growth in IT will continue, connected with entrance of new companies, the growth will fluctuate around 10-22%. Salary increase will be for the specialties in sales that mostly work in the sphere of technology. 5-8.8% increase will be observed in marketing.

Soft skills will continue to increase in importance after 2022 as well. In case of some specialties, essential factors in case of well-done job will be taken into account.

Taking into account the rapidly developing techno world, National Polytechnic University of Armenia as the only educational institution of this sphere that installed modern educational innovative models, providing students with not only education but also stable and high salary.