Background: Events and celebrations are an integral part of life and social existence. With growing household income and opening up of the economy the magnitude and number of events has grown quite a bit. Jairaj Srinivas presents the scope and opportunities for building a career in event management.

Event management is a career full of opportunities. It is a form of marketing and advertising which is glamorous and thrilling. It requires a lot of hard work and effort but at the same time offers enormous scope for growth. Events and occasions are an essential part of our lives. Every now and then, there are events small or big like birthday celebrations, engagements, weddings, commercial events like musical concerts, award functions, marathons, to name a few. We just can’t ignore them.

We have all attended such events. The professionals who work hard and put in their best efforts to make these events successful and memorable are the ‘Event Managers’. There is a huge growth in the number of companies/individuals organising and hosting events in India. However, the supply of qualified event managers is insufficient compared to the growing demand. This gives rise to immense scope in employment and earning in this sector.

As per an EY report, digital events are poised to grow at 20% over the next few years, given that 90% of marketers believe it to be important to them. Industries like auto, mobile handsets, media and entertainment, FMCG and durables will drive growth through new product launches.

Event management is mainly about organising a perfectly synchronised, well planned and focused event for a target audience. It involves budgeting, organising and executing events such as product launches, fashion shows, musical concerts, corporate seminars, exhibitions, theme parties, among others. Much investment is not required in this field and offers a lot of scope for creative expression, hence has become one of the most lucrative career options.

Growth

Event management is a multi -million industry with myriad events being organised daily. The size of Event management industry has grown at an alarming rate in the past decade in the Indian economy. Experts in the industry strongly believe that this is just the beginning of a new era. According to the surveys done by leading research agencies, the organised event industry in India is poised to grow by at least by 20% annually and is estimated to reach INR 1,20,000 crores.

As per an EY report, digital events are poised to grow at 20% over the next few years, given that 90% of marketers believe it to be important to them. Industries like auto, mobile handsets, media and entertainment, FMCG and durables will drive growth through new product launches.

Also read: The big business potential

Scope

Many companies today host and organise events regularly. These events could range from the small-time private events to the large-scale international events. Many young people are entering this field because they realise the potential of the market and the demand and supply situation. The most profitable aspect of this field is the need for creativity. And that is how and where one earns.

With more spending power the scope of events has grown and the events and entertainment industry today encompasses events like fashion and celebrity shows, film awards, celebrity promotions, television reality shows, road shows, musical concerts, Bollywood shows, theme parties and product launches. With the growing economy, industries need quality events. The constant rise in the number and the scale of all such events is the main growth driver of the sector.

There is a never-ending demand of professionals associated with this industry. There is an acute shortage of experienced professionals in this field, and a very few educational establishments offer professional courses for aspiring event managers. To fill this gap, the event management business has to acquire professionals from other vocations.

Rajiv Dubey General Manager-Media, Dabur India, shares, “The Events Industry has multilevel benefits and it has a very symbiotic relationship between its organizers, technicians, artists, advertisers, media, F&B industry and finally the clients.”

Innovation

Scope for innovation in events is immense. For example, there may be lot of marathons happening so you can choose to organise obstacles races to create an impact. Also, since there are marathons for men and women, you may like to organise small distance runs for kids. Incidentally, as per an EY report, events in the sports sector are likely to grow at over 18% over the next few years.

Another example is that since there are many Valentine’s Day events, you may want to organise events for singles on that day.

Also read: How to foster a culture of innovation at work

Market segmentation

The functioning of the event industry is getting extremely professional and organised with time. This industry caters to events in four broad categories— leisure, cultural, personal and organisational. With rising household as well as company incomes, growing number of corporate awards and conferences, television and sports events, reality shows and so on are helping this sector grow.

Job prospects

Many may wish to pursue this lucrative career in event management and there are plenty of jobs available in this industry. Initially you can join an event management company or a media house that specialises in event management activities. Once you gather substantial experience and expertise you can start working as a freelancer or set up your own business.

It demands a lot of hard work and effort. If you believe you have the necessary skills and are able to work hard, event management can be a smart career move for you

Event managers are respected by their clients, as they hold a place of prime importance for the success of any event. People around you know your worth and your efforts are appreciated.

This career option is one of the highest paying. Earning of an event manager is limitless. Even in the starting days, you earn much better than other professionals. As you get more exposure and experience, your scope of earning gets better.

This profession offers you the opportunity to meet many new people and helps you build contacts. You may get the chance to meet your favourite celebrity and also get an opportunity to manage an event for them. This occupation allows you to showcase your skills to a level where everyone would love to hire you. It grooms your overall personality. It not only gives you better recognition and financial freedom but also improves your persona as well. You learn how to talk, how to dress and accomplish tasks properly. You build a personal brand.

Huge international events need professionals too. You can get a chance to travel along with work too. Event management is a low risk business. You can to start your own venture and be your own boss, and have employees working for you as and when you get projects, without much investment. If multi-tasking in your thing and you are good at handling people and situations simultaneously, event management can prove to be just the career path you need.

Also read: Bollywood stars investing in startups: A new bond of love?

Image courtesy: shutterstock.com

To explore business opportunities, link with me by clicking on the 'Connect' button on my eBiz Card.