Be the Dronacharya of Sports by choosing a career of a Sports Coach : The role of a mentor is respected worldwide. Whatever it may be the field, but a coach is enormously responsible for shaping up the life of their students. They give direction to raw skills and talents. In India, sportsmen are treated like gods and glittery stars. In fact they themselves want to be worshiped. For this they are highly dependent on their tutors and coaches in order to stay in form and perform well. What do you need to become a sports coach? Qualification wise it is absolutely not a challenge to become a sports coach. You can simply be a 12th pass having Physical Education as one of your majors. You can study sports as a subject in some of the selected institutes and universities of India and abroad if you wish to be a coach with a thorough knowledge of sports. But the skill sets required to become a successful sports coach are Good communication skills to morally boost participants. Expert at playing any particular sportsman Good analytical skills, solution giver, patience and non submitting spirit Great organizational skills, and supportive in nature Great physical stamina, aware of techniques to keep fit Leadership qualities with an endearing attitude So how to pursue a career as a sports coach? There are no obligations with formal education in sports coaching. One can be a senior or former player in any particular sport to pursue a career as sports coach. There are however some institutes offering you a diploma in sports coaching which expects you to have completed your graduation preferably in a sports subject. A very successful goal oriented sports coach can land up working with national and international clubs, schools and other academics. Start the career as a volunteer coach and shift to being an assistant coach till you finally reach the position of a head coach. It is highly possible for a well accomplished coach to open his new academy for sports coaching. And if the sport happens to be a well known sport like cricket, tennis, badminton or soccer, they can manage aid from various government, state or even corporate houses. What are some of the institutes to pursue sports coaching as a subject in India? Serial No. Name of Institute Courses offered 1 Netaji Subhash National Institute of Sports, Montibagh, Patiala Punjab Diploma in Sports Coaching 2 National Sports East Centre, Salt Lake City, Sector-III, Calcutta, West Bengal Diploma in Sports Coaching 3 National Sports West Centre, Sports Complex. Sector-15, Gandhinagar, Gujarat Diploma in Sports Coaching 4 Tripura University B.Phy Ed. 5 Punjab University B.Phy Ed 6 Indira Gandhi Institute of Physical Education and Sports Sciences Graduate Course by Sports Authority of India (SAI) - B.Sc.(Health and Phy.Ed. & Sports 7 University of Delhi PG Course(Sports) - M.Phy.Ed 8 SAI National Sports Diploma Courses in Sports Coaching 9 Bangalore University PG Course in Sports (M.Phy.Ed.) 10 Gulbarga University PG Course in Sports (M.Phy.Ed.) Fees involved for such courses are really minimal. So monetarily these courses are not much of a problem to pursue. How much can you expect? The salary of a sports coach is highly dependent upon, which sports he wishes to pursue his career in. On an average they can draw a salary of Rs.20000/- -Rs.25000/-on a monthly basis. For professional coach of any professional team, the sky is the limit. BCCI had offered Ravi Shastri , the former Indian cricketer an annual salary of Rs. 7000000/- . What are your career prospects abroad? If you want to be taken very seriously as a sports coach in India, a master's degree in sports coaching can really catapult your career in a big way. You can also choose to become a sports coach in many other games abroad, which can pay you handsomely. One may have to struggle far less in western countries than in India after choosing a career in sports coaching. The salary graph is shown below. Source: Payscale What are some of the good institutes to pursue a career as sports coach? Here are some of the institutes abroad where you can pursue a career in sports coaching. Universities in U.K. provide proper well defined courses in sports coaching. Course fees can range from £8000-£15000. Serial No Name of Institutes Course offered 1 St Mary's University, Twickenham B.Sc. Hons. Coaching Science 2 Kingston University London B.Sc. Hons. Sport Analysis and Coaching 3 Middlesex University B. Sc. Hons. Sport and Exercise Science (Teaching and Coaching Sport) 4 University of Roehampton B.A. Hons. Sports Coaching 5 University of East London B.Sc. Hons. Sport, Physical Education and Development 6 London Metropolitan University B.Sc. Hons. Sport Psychology and Coaching 7 London South Bank University B. Sc. Sports Coaching and Analysis Critical analysis of the career The satisfaction level reported my most sports coach, big or small has been found to be immense by a survey conducted by U.S. Bureau of Labor Statistics. But in India, apart from some selected sports, other sports coach have to face quite a number of resistance and overcome red tapism to finally get noticed and bring about significant change in the lives of those training under their tutelage. The salary figures are also not well defined for lesser known sports, and it is a big deal to make way for this career in India. Call for action: Until unless the country realizes the importance of sports and its growth it is difficult to realize the role of a mentor. All sportsmen require tutelage in order to discover their hidden talents and channelize it. And this is only possible if tutors are given due respect in the country, irrespective of whatever sports they wish to deal with.
Joining the dots with a CWA or CMA : The three pillars of cost and works accountancy are – cost competitiveness, cost management, and, efficient use of resources. Cost & Works Accountant (CWA)/Cost & Management Accountant (CMA) assists in planning, monitoring and controlling the cost and price of a product or a service Nowadays with multi-product ventures taking place, it has become important to know and understand the exact cost of production of every product and service at different stages, to minimize the expenditure incurred on them and to ensure optimum utilization of resources. This is where the role of cost accountant comes in. They evaluate the operating efficiency and effectiveness of production and service management by analysing information from different departments of the organisation. The process involves critical monitoring of relevant costs like material, labour, overhead and capital costs etc., involved in making a product or providing a service. They analyze the sales trend to strike a balance between the demand and supply in order to prevent over production. They also monitor the performance, in order to spot and report on problems and prevent them from occurring in future. Required Education There isn’t any restriction on the background required for Costs and Works Accountancy. It is open for all students. The minimum eligibility criteria to enrol in ICWAI foundation course is 10+2.The minimum age of the candidate should be 17 years at the time of admission in foundation course. However, the student has to appear for the preliminary examination, which consists of papers testing the candidates knowledge in English and elementary mathematics and their general awareness. Graduate in any discipline may join the Intermediate Course, which is of 18 months duration. Minimum age for intermediate course is 18 years. After successfully completing the Intermediate course, one is eligible for the Final Course, which is also of 18 months duration. For membership, one needs to have passed the final exam and have at least three years’ work experience. Career Path Career Path (10th to Job) Course Details: As discussed above, there are three levels, foundation, intermediate and final. The various papers in the respective levels are detailed below: Foundation Intermediate Final Fundamentals of Economics and Management Financial Accounting Corporate Laws and Compliance Fundamental of Accounting Laws, Ethics & Governance Advanced Financial Management Fundamentals of Laws & Ethics Direct Taxation Business Strategy & Strategic Cost Management Fundamentals of Business Mathematics & Statistics Cost Accounting & Financial Management Tax Management & Practice Operations Management and Information System Strategic Performance Management Cost & Management Accountancy Corporate Financial Reporting Indirect Taxation Cost and Management Audit Company Accounts and Audit Financial Analysis & Business Valuation The Intermediate course, also has two group discussions, two seminars and computer class of 50 hours while in the Final Course, the curriculum also includes a dissertation of 5000 words along with computer class of 100 hours; modular training of 15 days and industrial training of 6 months. The Institute of Cost Accountants of India (ICAI) formerly called Institute of Cost and Works Accountants of India (ICWAI) Institute of Cost and Works Accountants of India is the only statutory body of Government of India, which facilitates training programmes for costs and accountant management. ICWAI promotes, regulates and develops the profession of CWA in India. The institute has four regional centres in India-Delhi, Kolkata, Chennai and New Delhi. It has 95 chapters all over India, and, 8 overseas centres in all. Cost of Fees The fees structure for the course, both in Oral and Postal form is summarised below: Course Fees for both Oral or Postal (Rs.) Foundation 4,000 Intermediate 20,000 Final 17,000 Job Profiles The responsibilities of a cost and works accountant/costs and management accountant would typically include: Corporate Decision Making Resource Management Performance Management Financial Reporting & Strategy Optimization of Stakeholder’s value Risk Management Enterprise Governance Audit assurance and Taxation Sustainable Development Corporate Social Responsibility Opportunities and Growth India has slowly gained a stronghold as one of the brightest emerging economies. It is also one of the world's fastest-growing economies. So, with opportunities arising for all, and with the entire world focussing on optimization, the role and importance of cost accountants has increased manifold on the account of growing competition in the corporate sector. Their job, broadly stating, essentially comprises of closely analysing costs and devising ways to reduce it as far as possible. Another good development is that an ICAI has a mutual recognition arrangement with the Institute of Management Accountants, USA and the Institute of Public Accountants, Australia and Indian CMAs/CWAs can automatically become members of these institutes. The course curricula have also been mapped with Chartered Institute of Management Accountants (CIMA) in UK, where arrangement has been made by Indian CWAs/CMAs get exemption in eleven papers (at different levels) to qualify as a management accountant professional in UK. Industries to Explore A CWA or a CMA can work in high profile jobs both in private as well as government sectors. There is plenty of scope in the banking and insurance sectors. The government has made it mandatory for thirty-eight classes of companies to employ a cost accountant. This very fact throws up tremendous opportunities for one. The CV of a cost and works accountant/ cost & management accountant The key skills that the recruiters look for in a CWA or CMA are: Cost accountants should have good negotiation skills to confirm a deal with the available budget. They should possess good computer skills for using different accounting software, like, Tally They should possess excellent communication and interpersonal skills They should have the skill to make strategic decisions and independent judgments in crucial situations. Strong analytical and problem solving skills and the ability to comprehend different situations in a small time frame Earnings The ICAI has been conducting placements over the past few years across the country wherein many companies regularly visit the campus and on an average, 75-80% students get placed. According to ICAI, in their most recent placement, the average salary package was in the range of Rs. 6.0 lakh to Rs. 11.0 lakhs per annum. What Next? After the final course, one may join M. Phil or Ph.D. in commerce and allied subjects. Presently, total 35 Indian Universities have approved the course offered by ICAI/ICWAI. Many Cost and Works Accountants of the Institute have been top performers in their corporate life. They can occupy position of responsibility, like, Managing Director, Finance Director, Financial Controller, Chief Accountant, Cost Controller, etc. One can start his own practice as a cost accountant after obtaining a license from the Institute.
Become a Multi-linguist and see where that gets you : Travel the world, become aware of diverse opportunities this career has and enjoy the power of understanding people across international borders through the information provided in this article. The government of India will consider you as a literate if you can write and speak in one language but you'll just be another face in the crowd. Of course you do know English and your regional language. But mastery over foreign languages is truly empowering. In fact a study claims, learning a foreign language can delay the onset of Alzheimer's disease. Coming back to the point you can actually build a secure career after earning a degree in Foreign Languages in India as well as abroad. The astonishing merit of pursuing a degree in Foreign Languages is that it actually enables you to dive into any field you desire and the most amazing part is you can do that from anywhere across the globe. The study of foreign languages teaches and encourages respect for other people, it builds an understanding of the interrelation of language and human nature. It expands one’s view of the world, liberalizes one’s experience, and makes one more flexible and tolerant. Its study leads to an appreciation of cultural diversity. The figure below demonstrates how expertise in linguistics gives you the ability to become a part of several areas. ELIGIBILITY Students can opt for foreign language in schools (eg: Schools with IGCSE syllabus) although most schools in India, don’t offer this subject. You can take up foreign language after completing 10+2 in any discipline, opt for an undergraduate course and later pursue a degree in Masters then PhD. There are diploma and specialized courses available in various languages as well. LANGUAGES Across the globe, schools do teach at least one foreign language in their curriculum. But adults who are fluent in more than one language are rare, in India as well as abroad. According to a survey in 2001, 66% population of UK spoke only their native language. In India, according to Census of 2001, there are 122 major languages and 1599 other languages, out of which 30 languages are spoken by more than a million people. Offering a wide range to study and excel on a regional basis, but a degree in foreign language creates a national as well as international base for you to build your career on. Following are the languages that you can earn a degree in terms of the course of Foreign Languages. French Chinese Japanese Spanish Korean Portuguese Arabic Italian Mandarin Dutch CAREER PATH Career Path The picture above portrays all possible positions you can opt for after pursuing a degree in foreign languages. It's intriguing how mastering two-three languages can lead to such diverse employment opportunities. But to be the best, you need to study where quality education is provided. Following are a few such institutions which will help you fulfil your dreams. TOP INDIAN INSTITUTES Institutes Location Courses offered Eligibility Website SRM University Ghaziabad Undergraduate PhD 10+2 Masters http://www.srmuniv.ac.in/ Guru Nanak Dev University Amritsar Certificate and Diploma Courses 10+2 Preference given to graduates and PhD holders. http://gndu.ac.in/gndu2014/department-foreign.html Symbiosis Pune Certificate Courses 10+2 http://www.sifil-symbiosis.org/ CIEFL Hyderabad Part time and full time courses 10+2 http://efluniversity.ac.in/ Jawaharlal Nehru University New Delhi Undergraduate and certificate courses 10+2 www.jnu.ac.in/ Banaras Hindu University Banaras Post graduation Graduate http://www.bhu.ac.in/ TOP INSTITUTES OVERSEAS Institute Location Courses offered Eligibility Website Steinhardt New York M.A. Graduate www.steinhardt.nyu.edu Universitat Rivora Virgili M.A. Graduate http://www.urv.cat/ University of Groningen Netherlands M.A. Graduate www.mastersportal.edu COST OF FEES The course fee in India ranges from 10,000 to 100,000 rupees, depending on the location and institution you prefer. Total fee, abroad ranges from 2 to 6 lakhs, varying according to the place and institution. SKILLS REQUIRED Skills include strong writing, communication, oratory, multitasking, analytical, business and grasping skills. You ought to have these skills or at least a desire to learn and train your talents in these avenues. Qualities include passion to learn languages, high level of concentration, interest in the cultural heritage of other languages, discipline, hard work, determination, commitment and dedication. SECTORS YOU CAN WORK IN As mentioned earlier as well, expertise in foreign languages can open doors to multiple areas and for further specification here's a demand for qualified language professionals evident in seven major career areas: Business, Industry & Commerce Engineering Government & International Teaching Interpreting & Translation Media & Journalism Publishing Travel & Tourism Service Organizations EMPLOYMENT OPPORTUNITIES AND JOB PROFILES “Evalueserve”, an international research company claimed that BPO, IT and KPO need 160000 professionals in foreign language, in India. Demand for professionals in foreign languages from Indians with low salary expectation is high in foreign countries. The FBI has developed a special program-- Foreign Language Incentive Pay -- that awards additional compensation to employees who have certified foreign language proficiency in critical foreign languages. In the area of trade and commerce, companies which expand to other regions desperately require employees with knowledge of foreign languages. Below are few occupations you can take up. Freelancer Translator Teacher Content Writer Critic Editor Tourist Guide REMUNERATION Foreign language professionals earn a descent amount of salary. Professionals can earn from 30,000 – 50,000 rupees per month. Teachers can earn in the range of 15,000 to 25,000 rupees a month. Translators on the other hand receive Rs. 250 to 500 per page. Similarly, an interpreter who is paid on an hourly basis can earn up to Rs. 2000 to 4000 per hour, again depending upon his calibre and work experience. Freelancers earn on the basis of the projects they receive.
Assuring Smiles through Covering Risks â€“ A Career in Insurance : The expanding Insurance market has provided a plethora of job opportunities. Depending upon their skills and qualifications, anyone can find rewarding employment in Insurance sector. Life is fraught with dangers. Take a look around, whatever we see is at risk. That swiftly moving car may meet an accident at the next turn. That healthy kid playing in the park may next day come down with a life-threatning disease. That man leaving for his job may never return home. That old couple next door may not receive their next pension cheque due to market crash. INSURANCE is the tool to overcome any financial difficulties arising out of such contingencies. Earlier Insurance was termed as a “necessary evil” but with the increase of risks in modern times the need for a risk-cover is needed greatly. To cover different type of risks, various kinds of Insurance products are being offered by companies. With increase in trade over the years and the awareness amongst the public, people in India are awakening to the need for Insurance. This expanding market has provided a plethora of job opportunities. Depending upon their skills and qualifications, anyone can find rewarding employment in the Insurance sector. There are both, Public Sector Companies (i.e. Government Owned) e.g. LIC, Oriental, GIC etc. as well as Private Insurance Companies like ICICI Lombard, HDFC Life, Aviva, Max Life Insurance etc. in India. Also, there are some Joint ventures between Public and Private sector like between Bank of India and United Sompo of Japan etc. Recruitment and Compensation In Public Sector Companies, there are mainly 2 divisions at lower management level i.e. Administration and Business Development. ADMINISTRATION looks after the back-end, day to day administration and smooth functioning of companies. Here, recruitment is done through competitive exams in 2 cadres, viz., Clerical and Executive (AAO). In BUSINESS DEVELOPMENT, there are independent Insurance Agents who are not the employees of the company and work on a commission-on-sales basis. Development Officers, who are company employees are responsible for managing the network of agents. In private sector, minimum qualification for recruitment in administration is Graduation. Executive level positions are held by professionals with degrees like MBA(Mktg), MBA(HR), CA, Law Graduates etc. Private companies also work on the Agent-model. Apart from these, there are various jobs like: PRODUCT DESIGN and RISK MANAGEMENT: This is a high risk job with a commensurate compensation package. Here, the preferred candidates are highly qualified professionals like Actuaries, CAs and MBAs from premier institutes. CLAIM EVALUATION: This work is generally outsourced to Technical professionals from relevant fields. They are paid on a case to case basis. LEGAL: Being a litigation prone industry, the Legal section of an Insurance company is a very important section. It is responsible for representing the company in various forums, legal and statutory compliances, testing new products for legal validation etc. Law graduates are preferred for this profile. A lot of legal work is outsourced too. OFFICIAL LANGUAGE OFFICER: In all Public Sector Companies Official Language Officers are appointed to promote the use of vernacular languages in day to day working and official correspondence. Preferred candidates are Masters degree holders in their respective languages. Career Path Compensation in Insurance industry varies on the basis of skills and performance of candidates, however a fair idea of popular average salaries offered in India and overseas is detailed below : Job Responsibility Appx Annual Salary in India (INR) Appx Annual Salary in USA ($) Accounts Manager 4,00,000 – 6,00,000 50,000 – 55,000 Underwriter 7,00,000 – 10,00,000 55,000 – 60,000 Business Development Manager 3,00,000 – 5,00,000 60,000 – 80,000 Development Officer 5,00,000 – 8,00,000 - Acturial Analyst 4,00,000 – 5,00,000 40,000 – 50,000 Senior Actuaries 10,00,000 – 25,00,000 1,00,000 – 2,50,000 Other Operational Executives 4,00,000 – 6,00,000 40,000 – 70,000 Top Institutes Indian Almost every Insurance company recruit graduate freshers for various general management, sales and marketing roles. However specialists are preferred for the roles of actuarial valuation and policy making, claim loss surveys, risk underwriting and other expert domains. Various institutes are imparting insurance educations in country and abroad. Name of the Institution Location Courses Offered Duration Fee Structure Website Birla Institute of Management Technology (BIMTECH) Noida PGDM (IBM) 2 years 3-5 Lacs www.bimtech.ac.in/ Insurance Institute of India (III) Mumbai Agent and Surveyor Accredition 1-2 years Upto 1 Lacs www.insuranceinstituteofindia.com/ Institute of Insurance and Risk Management (IIRM) Hyderabad PGDM 2 years 3-5 Lacs www.iirmworld.org.in/ Institute of Actuaries of India (IAI) Mumbai Actuary Professional Accredition 5-6 years 1-2 Lacs www.actuariesindia.org/ Various Management Institutions like IIM’s, MDI, IIFT, IMT etc India MBA / PGDBM 2 years 4-8 Lacs - Overseas Institutions Insurance is an integral part of any successful business and hence insurance education is integral to all business academics curriculum . Separate topics covering major aspect of Insurance are taught in most of the MBA programs worldvide. All major countries have their actuarial institues. Some of these institutions are : Name of the Institution Location Courses Offered Duration Fee Structure Website Chartered Insurance Institute (CII) UK Diploma and various certifications in Insurance 1-2 years $ 2000-10000 www.cii.co.uk/ Society of Actuaries (SOA) USA Actuary Professional Accredition 5-6 years $ 10000-20000 www.soa.org/ Harvards Business School (HBS) Boston MBA 2 years $ 50000 + www.hbs.edu/ MIT Sloan Sloan MBA 2 years $ 45000 + www.mitsloan.mit.edu/ Institute of Actuaries of Australia Australia Actuary Professional Accredition 5-6 years $10000-20000 www.actuaries.asn.au/ What Next? A career in insurance industry comes with a plethora of benefits including name, networking, wealth and satisfaction. Although neither a lost life can be reclaimed nor damage to any property can be undone, insurance nevertheless provides people with an option to rebuild their lives by ensuring financial stability even in critical times. With increase in worlwide economy the scope of insurance sector is set to grow by leaps and bounds. So don’t miss the bus!
Embrace a Colorful Career with a Degree in the National Language : Become aware of why Hindi is much more than just a patriotic language and explore the opportunities you can grab with your degree in Hindi Literature, from working as a translator in large corporations to finding opportunities in the Army as an interpreter. 'Language is the key to understanding anything.' I personally believe this to be true. But is Hindi that language which will be the key? Is it worth building a career in? Yes, of course it is. I am not going to give you the same old lecture on how Hindi is our national language and we are obliged to preserve it. It definitely is but there's more to Hindi than what meets the eye. Apart from nearly 425 million people speaking Hindi as a first language, making it one of the most spoken languages in the world, and another 120 million speak Hindi as a second, Hindi is a language in which you can build a prosperous career. The further you read, you'll understand these are not empty words. While Hindi is the official language of India, Hindi is also spoken in Mauritius, Fiji, Suriname, Guyana, Trinidad & Tobago and Nepal. There's a similar pattern of thought amongst Indians, that English is THE language which will open the doors for a secure career for you and that our own language Hindi is 'so backward'. Career Fact: But what if I told you, this pattern of thought itself is backward? There's a demand for experts in Hindi for a job post of teaching the language to the U.S military so as to equip them to interact with the locals in regions where the language is used. Educational Requirements Bachelor's degree in Hindi Literature is enough for a fairly lucrative career. But if you opt for Masters or PhD, you make yourself prone to opportunities. There are institutions all over India which bestow the mastery in Hindi and yes, believe it or not, there are colleges abroad which offer you courses in Hindi. Below are the few of the best educational institutions in this matter. Career Path TOP UNIVERSITIES IN INDIA Institutes Location Courses Offered Eligibility Website University of Mumbai Mumbai M.A. PhD in Hindi Graduate in any discipline Masters degree in any discipline http://mu.ac.in/ Bangalore University Bangalore M.A. in Hindi P. G. Diploma in Functional Hindi Translation Graduate in any discipline with 50% marks in Hindi University degree OR Graduate in any discipline with 55% marks in Hindi http://bangaloreuniversity.ac.in/ University of Kerala Kerala M.A in Hindi Graduate in any discipline www.keralauniversity.ac.in/ University of Delhi New Delhi M.A in Hindi Graduate in discipline http://www.du.ac.in/ University of Madras Chennai M.A. Post graduate course in Functional Hindi and Translation PhD Certificate course in Hindi Graduate in any discipline Graduate in any discipline M.A 10+2 http://www.unom.ac.in/ Vision Institute of Professional Studies Kolkata B.A in Hindi 10+2 in any discipline http://www.visionvoice.co.in/ Babu Hari Ram Singh Mahavidyalaya Allahabad B.A. in Hindi 10+2 in any discipline http://bhsdegreecollege.org/ Banasthali University Jaipur Banasthali University B.A in Hindi 10+2 in any discipline http://www.banasthali.org/ TOP UNIVERSITIES OVERSEAS Institutes Location Courses Offered Eligibility Website University of Chicago Chicago B.A 10+2 (any discipline) http://salc.uchicago.edu/hindi-at-chicago Boston University England B.A (Hindi-Urdu CAS) 10+2 (any discipline) www.bu.edu University of California Berkeley Introductory Hindi Intermediate Hindi Readings in Modern Hindi 10+2 Intermediate Hindi http://southasia.berkeley.edu/ University of Minnesota S.E. Minneapolis MN Intensive Hindi Course 10+2 http://umabroad.umn.edu/ Fees Structure In India, the fee for a Bachelors’ degree in Hindi literature is within the range of 15,000 rupees to 100,000 rupees, depending on the location and institution. In government colleges, you can get a free seat with minimal charges after passing an entrance exam (on the date which the college decides). Masters and PhD's average fee is the same as Bachelors degree. The course fee, overseas ranges from 4,500 to 10,000 dollars. Employment Facts As mentioned earlier with your expertise in Hindi do not be under the presumption that you are limited to work in India only. Today the US intelligence and security agencies desperately require Hindi translators. "As a linguist or translator in the U.S. Army you are deployed to duty stations around the world. You can get recruited for language interpretation and intelligence analysis. As a linguist, you can qualify for an enlistment bonus up to $40,000 and the Montgomery GI Bill worth over $60,000," says an army recruiter. In 2009, the US Army introduced a program in which immigrants who speak one or more from 35 languages including Hindi can get in military and receive citizenship by the end of basic training of just 10 weeks. The reason why Hindi is getting a strong foothold overseas is because of the economic growth in India, which makes the foreign countries interested, language becomes a barrier, just like the old times when British colonized 2/3 of the world. Job Opportunites With immense rise of importance of our national language around the globe, there are various employment opportunities. You can work in different departments of the Central government as well as the State governments of India. Posts like Hindi Officer, Hindi Translator, Hindi Assistant, Manager (Official language) in different departments and units of Central and State government The scope has increased with the advent of private TV and Radio channels and the launch of Hindi versions of established magazines and In the field of Hindi media, there is a need for Editors, Reporters, Correspondents, Sub Editors, Proof Readers, Radio Jockeys, Anchors etc. A Degree or Diploma in Journalism, Mass Communication along with academic qualification in Hindi is a merit for job seekers. One can work in the mediums of Radio, TV, Cinema as a Script Writer, Dialogue Writer and This field necessitates a natural and artistic mastery of creative writing. But a degree or diploma in creative writing will enhance one’s style of writing. Need for translation of well-known works from international writers, blockbuster movies, advertisements and the work of translating in courts, is peaking as you read this. You can earn your livelihood as a freelance translator and can also set up your own translation firm. There are also opportunities of translation projects from foreign agencies. The task can be easily done through the internet. Now we find every global publication house struggling to make space for their existence in the masses, particularly the Hindi belt. Most surprisingly the leading multinational publishing houses not only started commissioning Hindi publication but started publishing translated versions (in Hindi) of best sellers also on a massive scale. So there is a great opportunity as a translator, editor & composer in big publishing houses. There is a job opportunity in foreign countries for the Post Graduates in Hindi language, especially those who have completed their Ph.D. Scope of teaching Hindi language and linguistics in foreign universities. Growth for interpreters and translators overall was expected to be at a very fast rate of 46% over the period of 2012 to 2022. One can always choose the traditional option of teaching Hindi at schools, colleges & universities as teacher and professor in India and overseas. Salary Overview The average salary for interpreters and translators was $49,320 a year. The entry-level translators may be paid somewhat less in the range from $22,301-$72,017. Those who want to put up a career in teaching can start earning in the range of 10,000 to 20,000 rupees per month. Candidates working with embassies can receive a compensation of 8,000 to 10,000 rupees per month. Translators are paid between 50 to 100 rupees per page. Interpreters generally earn around 300 to 500 rupees per hour. Professors in universities can earn up to 40,000 to 90,000 rupees per month in India. So, do not hesitate when entering the field. If the national language is something that you want to excel in, know that it has much more renown and use than what has actually been publicized.
Are you ready to play the devil's advocate?: Career in Corporate Law : Corporate Law relates to the study of various stakeholders in a company and how they interact with each other. A corporate lawyer has a multi-faceted role encompassing various responsibilities with a blend of operational and supervisory roles. The Devil’s dictionary defines Lawyer as someone who is adept in “circumvention of law”. Jim Carrey in the movie, Liar Liar, plays the role of lawyer. In that character, initially he would manipulate the law and situation to his favour instead of focussing on the truth. That’s how we in India used to perceive law as well. Though, in some societies, practicing Law is perceived to be a noble profession. The legal profession in India has undergone a substantial change over the years. Nowadays, a student of law is not confined to the court, but, is a part of corporate offices, consulting & advisory firms, administrative services, and a lot more fields. Required Education Students from any background can opt for a career in Law. In India, one may opt for any of the below options: (a) After 10+2, 5 years integrated B.A and L.L.B, or, (b) After graduation, 3 years bachelor of Law (L.L.B) In India, one may need to appear for entrance examinations to get in the law colleges. Common Law Aptitude Test (CLAT) is the entrance examination that one needs to clear to get into the coveted National Law Schools. There are other state level entrance examinations for other government colleges. One can study law abroad, but one needs to be aware whether that qualification will be recognized in India. Legal systems of some countries are similar to that in India. As you are aware that India was under the English rule for many years, the Indian judicial system has been primarily adapted from English Law, or ‘common law’. English Law is the basis for many legal systems, including those in Canada, Australia, New Zealand, Singapore, Malaysia, India and Pakistan. In US, one can study a JD (Judicial Degree) to start with and then study LLM (Masters of Law) for graduation. In the UK, Australia and New Zealand, one can study an LLB (Bachelor of Law) as an undergraduate law degree, and the top it up with a post-graduation degree. But one has to pass bar exams to qualify as a professional lawyer. Career Path Career Path (10th to Job) Course Details: One definitely needs to be a Bachelor of Law and registered with the Bar Council of India to be practicing lawyer. For, joining the corporate ranks, one need not register oneself with the Bar Council. The top law colleges in India and abroad are listed below: Top Institutes (India): Law School University Location Exam & Cut-off Total Course Fess (INR Lacs) NLSIU, Bangalore NLSIU, Bangalore Bangalore CLAT: 147 9.00 Nalsar University of Law Nalsar University of Law Hyderabad CLAT 7.00 National Law Institute University National Law Institute University Bhopal CLAT 6.45 West Bengal National University of Juridical Sciences West Bengal National University of Juridical Sciences Kolkata CLAT:137 6.45 National Law University, Jodhpur National Law University, Jodhpur Jodhpur CLAT: 131 5.60 Symbiosis Law School Symbiosis International University Pune SET 11.80 Gujarat National Law University Gujarat National Law University Gandhinagar CLAT: 128 9.50 Hidayatullah National Law University Hidayatullah National Law University New Raipur CLAT 6.80 School of Law, Christ University Christ University Bangalore - 6.50 Faculty of Law University of Calcutta Kolkata WB-LET 0.06 Top Institutes (Overseas): Following are few top law colleges around the globe are: Rank Name of Institution Location Web Site 1 Harvard University United States www.harvard.edu 2 University of Cambridge United Kingdom www.cam.ac.uk 3 University of Oxford United Kingdom www.ox.ac.uk 4 Yale University United States http://www.yale.edu/ 5 New York University (NYU) United States http://www.nyu.edu/ 6 Stanford University United States https://www.stanford.edu/ 7 London School of Economics and Political Science (LSE) United Kingdom http://www.lse.ac.uk/home.aspx 8 The University of Melbourne Australia http://www.unimelb.edu.au/ 9 University of California, Berkeley United States http://www.berkeley.edu/ 10 Columbia University United States http://www.columbia.edu/ Source: Forbes, QS One can opt for an L.L.M in Corporate Law or undertake several certification courses available both in India and abroad to provide one an edge in the corporate law. There are several online certifications available on corporate law from top universities around the globe. Cost of Fees The fees of the top law colleges in India are summarised in the table above. The cost of a law degree from abroad would essentially range between INR 20.0 lacs to INR 90.0 lacs, including allied costs. Job Profiles Broadly, one has to work in either of the broad categories: As an advocate, practicing law: Usually, it takes time to settle unless one has contacts and is working under a senior counsel. As a Legal officer owning responsibilities depending on the type of firm one joins The job roles usually offered are: Legal officer/Manager Legal Advisor Senior/Junior Associate (Legal) The responsibilities of a corporate lawyer would typically include: Drafting and negotiation of agreements: Leave and License agreement, Confidentiality agreement, Assignment agreement, etc Advisory services – Corporate Law Research and advice on various issues in corporate law Compliance Looking after the various compliances of the group/company depending on the type of firm Handling litigations Engaging with external counsels and resolving litigations Appearing before court and resolving the matter Drafting notices, affidavits, written statements, plaints, petitions Company secretarial Drafting of Agenda, Minutes, Notices of Board Dealing with various regulatory and compliance issues and with Registrar of Companies Handling Secretarial Audit, etc. Opportunities and Growth India has slowly gained a stronghold as one of the brightest emerging economies. It is also one of the world's fastest-growing economies and after Dr. Manmohan Singh’s landmark economic policy in 1991, become an attractive destination for inbound investment and, increasingly, a source of deal-activity globally. Most of the global conglomerates have been willing to invest in India. Based on the recommendations of Foreign Investment Promotion Board (FIPB), the Government, in a meeting held on September 29, 2015, approved 18 proposals of FDI amounting to approximately US$ 770 million. Thus we can see the rate at which investments are flowing in, the volume of capital markets transactions, the quantum of capital raising, the number of strategic joint ventures and investments and large-scale restructurings, or major cross-border mergers and acquisitions, that are taking place in India. As per Economic Times, Opportunity beckons the corporate lawyers in India, as foreign firms are strengthening their India desks by adding experienced dealmakers in Singapore and London as Indian regulations prohibit foreign firms from having an office in India or advising on Indian law. They, however, can do this in cooperation with the Indian bar and work with Indian law firms. Indian lawyers with dual-qualifications - qualification to work in India and abroad are in great demand. With the volume of capital market deals, Mergers & acquisition deals, going around, it’s not difficult to gauge the future of corporate lawyers in India. Industries to Explore A corporate lawyer can be a good fit in any corporate house. Some of the industries where a corporate lawyer might excel are: Banking and Financial Services Industry (BFSI): Banks, like, SBI, Deutsche Bank Insurance companies like, Bharti Axa, LIC Knowledge Process Outsourcing offices of global behemoths like Mckinsey, Ernst & Young Consulting Firms like, Ernst & Young (E&Y), Mckinsey, KPMG Law advisory firms: Some of the top law advisory firms are: Amarchand & Mangaldas AZB & Associates Amicus Fox Mandal Jehangir & Gullabbhai & BIlimoria & Daruwala Khaitan & Co. Luthra & Luthra The CV of a corporate lawyer The key skills that the recruiters look for in a corporate lawyer are: Good drafting skills and a good oratorical skills Excellent communication and interpersonal skills Knowledge of specific acts based on the industry, like, Banking Act, Income Tax Act, Company Law, etc or certain rules like IRDAI rules in insurance industry Ability to work under pressure and desire to be a part of a big team Strong analytical and problem solving skills and ability to comprehend different situations in a small time frame Earnings The edge that corporate lawyers have is that even at the start of their careers, their earning potential is quite high as compared to other professions. However, like all other professions, it is always the cream that rises to the top and hence with experience and time, very high and lucrative remuneration will be limited to a few. The compensation for the corporate lawyers is good. The increase of salary of farm fresh corporate lawyers is linked to the gradual improvement in the quality of legal education in India. Typically, their packages would be around 10.0 lacs per annum if one graduates out of the top law schools. But, if one passes out from the low ranking colleges, one has to struggle in the initial years. What Next? Corporate lawyers can become general business managers and even aspire to become CEOs. Corporate Lawyers can go on to start their own advisory firms.
Go solo as a Portfolio Manager : Portfolio management involves efficient allocation of resources to generate higher return on investment. A portfolio manager manages investment portfolios of people. Charles Darwin!!!! When you hear the name what comes to your mind? “Theory of evolution” or “Survival of the fittest” or “Natural selection”. You might be thinking what does Darwin has to do with Portfolio Management. Well it has to do with “selection”. That’s what a portfolio manager has to do. Select assets and allocate resources so that the portfolio generates higher return to the investors. Now, we have been hearing the word “portfolio”. It means a collection of investing tools like equity, debt, commodities, or, may be mutual funds. I would like to enlighten you about another concept known as active and passive investor. Active investors are ones who are their own portfolio managers, and, they are abreast of what is happening around and manage their investment actively. However, there are another category who tends to give the steering of their investment vehicle to a person whom they trust and ride the journey along with the manager, we would call the portfolio manager. A portfolio manager’s primary job is identifying the proper investment policy for a client or fund keeping in mind the risk and return matrix and client’s financial need. Required Education Similar to most other careers in investing world, education in financial discipline at preliminary level is not necessary but desirable. However, one needs to have a strong interest in financial markets, accounting and economics, with strong analytical and quantitative skills. One should have good communication and presentation skills as well. Knowledge in statistical tools is also desirable. For a career as a portfolio manager, it’s almost mandatory for one to be a Chartered Accountant, or an MBA (Finance). Most of the portfolio managers are also Chartered Financial Analysts or Certified Financial Risk Managers (FRM). Career Path Career Path (10th to Job) Course Details: For a career in portfolio management services in an Asset Management Company (AMC), one needs to be a post-graduate, preferably those in MBA (Finance) or Chartered Accountancy. Hence, the list of top business schools and other relevant colleges are listed below for a quick reference. Top Institutes (India): Institute Locations Course Eligibility Website/Information Indian Institute of Management Ahmedabad Bangalore Kolkata Lucknow Indore Kozhikode PGDBM At least 10+2 in any discipline CAT/GMAT https://en.wikipedia.org/wiki/Indian_Institutes_of_Management Indian School of Business Hyderabad Gurgaon PGDBM At least 10+2 in any discipline CAT/GMAT http://www.isb.edu/ Management Development Institute Gurgaon Murshidabad PGDBM At least 10+2 in any discipline GMAT Mostly, Work-Experience is required. http://www.mdi.ac.in/ Institute of Chartered Accountants of India Any Chartered Accountant Class XII (Any discipline) www.icai.org.in/ Financial Risk Manager (FRM) from GARP Any Financial Risk Manager Undergraduate (or appearing in final year of UG exam) http://www.garp.org/#!/frm_program_exams/ Top Institutes (Overseas): Following are the top B-schools in the world: Institute Courses Average Score in GMAT Country Website University of Chicago – Booth School of Business MBA 720 USA https://www.chicagobooth.edu/ Stanford Graduate School of Business MBA 720 USA https://www.gsb.stanford.edu/ Harvard Business School MBA 730 USA http://www.hbs.edu/Pages/default.aspx University of Pennsylvania-Wharton MBA 728 USA https://www.wharton.upenn.edu/ London business school MBA 700 UK https://www.london.edu/ INSEAD MBA 703 France http://www.insead.edu/home/ University of Oxford- Saïd Business School MBA 690 UK http://www.sbs.ox.ac.uk/ HEC Paris MBA MBA 690 France http://www.mba.hec.edu/ NUS Business School MBA 672 Singapore http://bschool.nus.edu/ HKUST Business School MBA 600 Hong Kong http://www.bm.ust.hk/ Source: Financial Times, QS Other than GMAT/SAT/GRE, it is mandatory for the students to appear for IELTS/TOEFL. Scores above 100 are considered to be good in TOEFL. Again, one should remember that while applying for the MBA schools, the score in entrance is only a fraction of the parameters used for judging a candidate. Everything in the application really does matter, including the application essays and recommendations. Cost in Fees: The cost for a MBA from a top college in India would range between INR 8.0 lacs to INR 25.0 lacs, including allied costs. An MBA from abroad would range between INR 35.0 lacs to INR 90.0 lacs including allied costs. Executive MBAs, mostly for experienced candidates cost much higher, but the advantage is that the duration of the course is shorter and the peer group is usually better. Job Profiles Broadly, one has to work in any of the broad categories: Active portfolio management: Active buying and selling of funds Passive portfolio management: Usually, working in Exchange Traded Funds (ETF) Discretionary portfolio management: The fund manager has the power to sell and buy assets at will but keeping the financial needs of the client as priority Non-discretionary portfolio management: Usually advisory role The job roles usually offered are: Asset Manager Fund Manager Portfolio Manager Wealth Manager The responsibilities of a portfolio manager would typically include: The primary responsibility of a portfolio manager would be to generate positive returns for the client and help his client achieve his financial goal within the stipulated timeline. The portfolio manager takes the key role for planning the investment portfolio of an individual based on the demographic and economic profile of the client. The portfolio manager is also responsible for imparting financial awareness and knowledge to his client. He would also be responsible for providing tailor-made solutions to his clients depending on the risk profile of the client. Opportunities and Growth The growth and outlook of the asset management companies or the portfolio management companies are in line with the outlook of global and India economy. The last two years were very good for the industry. In the present year, the market has been subdued. But, there has been several Initial Public Offerings (IPO) in the Indian domestic market, which, suggests that the outlook is not too grim. If seen from a global perspective, we can see that the biggest crash in markets occurred in China, while the markets of Europe are on the edge due to the crash. Thus, helped by the favourable macro factors, India is in a brighter spot in the global equity market. The global scenario might take a while to turn around. Industries to Explore A portfolio manager would be working in the following industries: Banking and Financial Services Industry (BFSI): Mutual Funds like, Franklin Templeton, Mirae Asset, Kotak AMC, HDFC AMC Portfolio Management Service providers, like, PPAS, Brokerage firms, like, Karvy, Sharekhan Investment Banks like, JP Morgan, Goldman Sachs Banks, like, SBI, Deutsche Bank However, the greatest advantage of being a portfolio manager is that after years of experience, and myriad of contacts in the corporate world, one can start one’s own portfolio management service (PMS), going solo. The sky is the only limit once that starts. The CV of a Portfolio Manager The key skills that the recruiter looks in a portfolio manager are: Decent writing skills with an ability to comprehend financial reports Knowledge of key macro-economic trends and cycles, various asset classes and financial products Excellent communication and interpersonal skills – The job profile requires regular interaction with the client, discussing their requirements, and, financial goals Ability to work under pressure – A portfolio manager has to work under strict deadlines, and most entry-level profiles are required to stretch long. The individual should be self-motivated, proactive and passionate for investing and financial markets The other skills that an aspiring portfolio manager should possess to create an edge over the others are: Knowledge about a particular industry, its key players, competitive landscape, macro factors affecting the industry and trends in that industry Earnings The compensation for the portfolio managers are very good as the profile is mostly for seasoned candidates. Typically, their packages include a substantial bonus component. In India, the average salary for a portfolio manager would be around INR 11.0 lacs, starting from m INR 4.0 lacs per annum in small brokerage firms, to INR 30.0 lacs per annum in the foreign banks or large AMCs. The US counterparts earn more than $100,000 per annum plus bonuses. What Next? The most desirable exit route would be going solo!!!! Starting one’s own portfolio management service can take one places and one can aim for the stars Few try and move to investment banking or mutual funds (as fund manager) Few move into advisory roles ---------------------------------------------------------------------------------------------------------------------------------------------- Latest Articles: Aeronautical Engineering: Let Your Dreams Fly! | Make volatility your friend as a Stock Broker | Suit Up for a Career in Banking | Sports Management - Be the Sports leader for all games | A Career in Interior Designing | Striving to Make a Difference: Career as Development Practitioner | Put on your Dancing Shoes | Be a Piece of Art to Enter the Industry of Glamour: Career in Modelling | Play the mind game to start a career in Sports Psychology
Aeronautical Engineering: Let Your Dreams Fly! : It gives you wings! No. we are not speaking about Red Bull, we are speaking about Aeronautical Engineering. All of us have been intrigued by the concept of flight at some point of our life. From flying kites to “engineering” the longest flying paper rocket in classrooms, we have all tried to solve the mystery behind flying object at some age. We all have that one friend who runs to the terrace every time an aircraft is crossing from above. If even you dream to one day rule the sky’s and create innovative flying machines, Aeronautical Engineering is the best career for you! Aeronautical Engineering is a branch of aerospace engineering that deals with the study and creation of advanced technologies in the field of aviation, defense system, and space technology. This course prepares you for designing, development, testing, maintenance and operation of commercial airplanes, military aircraft and their components. Although aeronautical engineers generally don’t fly aircraft, they certainly have a huge contribution towards the field of aviation. Let’s look at the responsibilities and job description of aeronautical engineers. What Do Aeronautical Engineers Do? A job of Aeronautical Engineers includes several responsibilities. They are responsible for creating innovative, eco-friendly, economic and energy efficient methods of air transportation. As an aeronautical engineer, you can either design or develop aircraft or work on components of aircraft. An aeronautical engineer has to be adept with the laws of physics and aerodynamics. Those who want to design aircraft, have to master several designing softwares like CAD or CAM. Apart from virtuoso over technology, you’ll also need to hone your interpersonal skills like teamwork, leadership, and communication. This career demands high dedication and during projects, you might be expected to burn the midnight oil and be prepared to carry some work back home. How to Become an Aeronautical Engineer There are a several point of entry in the field of engineering depending on the amount of education. The minimum eligibility for becoming an aeronautical engineer is a diploma in aeronautical engineering. The diploma courses are available at different polytechnic colleges. Diploma holders can work in the ranks of junior technicians, helpers or assistants. If you wish to get into higher scale aeronautical engineering jobs, you must pursue a degree program in Bachelors of Engineering (B.E) or Bachelors of Technology (B.Tech.). For admission to these courses, you need to have a minimum of 60% marks in 10+2 with Physics, Chemistry, and Mathematics. There are various examinations depending on the college or the country from where you wish to pursue the course. Once you are done with your graduation, you either get a job or pursue a postgraduate degree in Aeronautical Engineering. For pursuing an M.E. or M.Tech. Course, you must have a bachelor’s degree in aeronautical engineering or any other equivalent stream of engineering. Top Colleges for Aeronautical Engineering: Being a niche field, aeronautical engineering is available in very selective colleges. Due to high demand in the aviation field and less amount of seats, there is a high competition among students for this course. Students who want to pursue the course in India have to appear in exams like JEE mains and JEE advanced. Admissions are also conducted through other exams conducted on a state level. If you wish to study abroad, you will have to appear in exams like SAT, ACT, etc. and also appear in some language proficiency exams like TOEFL or IELTS. Best Aeronautical Engineering Colleges in India: B.E/B.Tech. Aeronautical Engineering: Name of College Official Website IIT Mumbai www.iitb.ac.in/ IIT Kharagpur www.iitkgp.ac.in/ IIT Chennai https://www.iitm.ac.in/ IIT Kanpur www.iitk.ac.in/ Indian Institute of Engineering Science and Technology www.iiests.ac.in/ M.E/M.Tech. Aeronautical Engineering Name of College Official Website Indian Institute of Technology (IIT), Kanpur www.iitk.ac.in/ Indian Institute of Technology, Bombay www.iitb.ac.in/ Indian Institute of Technology, Kharagpur (IIT K) www.iitkgp.ac.in/ Indian Institute of Technology, Madras (IIT M) https://www.iitm.ac.in/ Hindustan Institute of Technology and Science (HITS), Chennai www.hindustanuniv.ac.in Best Aeronautical Engineering Colleges Abroad: Name of College Official Website Massachusetts Institute of Technology (MIT), Cambridge, Massachusetts. www.web.mit.edu/ Georgia Institute of Technology, Atlanta, Georgia. www.gatech.edu/ University of Michigan, Ann Arbor, Michigan, United States https://umich.edu/ Purdue University, West Lafayette, Indiana. www.purdue.edu/ California Institute of Technology, Pasadena, California, United States. www.caltech.edu/ Cost of Education As it is a specialized field, the cost of pursuing a degree in aeronautical engineering can be significantly higher. The fees vary from government colleges to private colleges. The fees in government colleges in India might be around INR 25,000 to 40,000 while the same in private colleges can start from INR 70,000 and go up to 3 lakhs per annum. The fees for pursuing the course abroad can be significantly higher and cost around INR 23 lakh INR for the graduation course. Counting the Bounty Aeronautical engineers is a prestigious profession and is one of the highest paying engineering professions. The average salary offered to a fresher varies from government to private institution and also depends on the education qualification. The salary packages are considerably higher in the private sector, but engineers working in government sector enjoy many perks. Coming to numbers, an average fresher can earn around 30,000 to 40,000 rupees per month in government organizations like HAL or NAL. On the other hand, the same in private organizations like Air India, Jet Airways, Indigo Airlines, etc. can go up to 40,000 to 50,000 INR per month. Summing it All Up! Aeronautical Engineering is undoubtedly one of the best professions. The profession is not only highly paying but also ensures high social status and standard of living. There is always a huge demand for a skilled aeronautical engineer, and both private and government organization give huge perks to retain efficient engineers. When you are designing the best aircraft, you deserve to be treated with free air travel for your family. Like every other good thing, there are certain challenges in this career. It is an intellectually challenging job and can be very demanding. There is virtually no scope for errors, and you might need to travel a lot. If you think that you can rise above these challenges and take the flight of your dreams, then even the sky is not a limit for you! Are you ready to give wings to your dreams? ---------------------------------------------------------------------------------------------------------------------------------------------- Latest Articles: Make volatility your friend as a Stock Broker | Suit Up for a Career in Banking | Sports Management - Be the Sports leader for all games | A Career in Interior Designing | Striving to Make a Difference: Career as Development Practitioner | Put on your Dancing Shoes | Be a Piece of Art to Enter the Industry of Glamour: Career in Modelling | Play the mind game to start a career in Sports Psychology
Make volatility your friend as a Stock Broker : Stock broking helps the buyers meet sellers and vice versa and bringing an equilibrium to the supply and demand in the financial market. The ticker is their heart beat of the stock broker as they capitalize on the uncertainties in the market. Stock exchange can be defined as “an exchange or stock market where stock brokers and traders can buy and/or sell stocks (also called shares), bonds, and other securities.” Now, the next question would be “What is the difference between a broker and a trader?” The difference lies in the organization that they work for. While a broker works on his own, or for brokerage houses, traders work for asset management companies. Brokers interact directly with the client, while traders usually work for a portfolio manager. So ignite the animal spirit in you and bring out the punter in you, if you want to be stock broker. Stock broking isn’t for the faint hearted, one has to ride on the wave of volatility to be a successful stock broker. On the flip side, there is little room for monotonicity in stock broking as change is the only constant out there. There are opportunities galore for the opportunist. There are millions to be made, and, who knows it could be any one of you!!! Required Education One needs to be a graduate, preferably in commerce, to be stock broker. Any work experience in similar fields is always handy. The minimum eligibility to be a sub-broker (the previous stage of being a broker) is a high school education. In India, the minimum age to be a stock broker is 21 years. In India, the stock brokers need to get themselves registered with Securities Exchange Board of India (SEBI), the controlling body of securities in India. The broker has to appear in various exams where one is judged on subjects like securities and portfolio management, economics, capital markets, etc. Further, larger broking firms prefer MBA (Fin), or, Chartered Accountants, or, Chartered Financial Analysts (CFAs). One needs to have a strong interest in financial markets, accounting and economics, along with strong analytical and quantitative skills. Career Path Career Path (10th to Job) Course Details: As detailed above, graduation in commerce gives an edge if you want to opt for a career as a stock broker. However, the bigger brokerage firms like Kotak Securities, ICICI Securities, Karvy, Motilal Oswal(in India) and Morgan Stanley, Bank of America, Meryll Lynch (Global) favour MBAs and CAs. Hence, a list of top colleges in relevant fields is listed below for a quick reference. Top Institutes (India): Institute Locations Course Eligibility Website/Information Indian Institute of Management Ahmedabad Bangalore Kolkata Lucknow Indore Kozhikode PGDBM At least 10+2+3 in any discipline CAT/GMAT https://en.wikipedia.org/wiki/Indian_Institutes_of_Management Institute of Chartered Accountants of India Any Chartered Accountant Class XII (Any discipline) www.icai.org.in/ Chartered Financial Analyst Institute, U.S.A Any Chartered Financial Analyst Undergraduate (or appearing in final year of UG exam) https://www.cfainstitute.org/pages/index.aspx Top Institutes (Overseas): Following are the top B-schools in the world: Institute Courses Average Score in GMAT Country Website University of Chicago – Booth School of Business MBA 720 USA https://www.chicagobooth.edu/ Stanford Graduate School of Business MBA 720 USA https://www.gsb.stanford.edu/ Harvard Business School MBA 730 USA http://www.hbs.edu/Pages/default.aspx University of Pennsylvania-Wharton MBA 728 USA https://www.wharton.upenn.edu/ London business school MBA 700 UK https://www.london.edu/ INSEAD MBA 703 France http://www.insead.edu/home/ University of Oxford- Saïd Business School MBA 690 UK http://www.sbs.ox.ac.uk/ HEC Paris MBA MBA 690 France http://www.mba.hec.edu/ NUS Business School MBA 672 Singapore http://bschool.nus.edu/ HKUST Business School MBA 600 Hong Kong http://www.bm.ust.hk/ Source: Financial Times, QS There are few other institutes that offer certain courses that might help one willing to pursue a career in stock broking. The list of such institutes is given below College Place Course name Website Institute of Company Secretaries of India Any major city in India PG membership course in capital market and financial services http://www.icsi.edu/ National Institute of Securities Market New Delhi 1 year PG programme in fundamentals of capital market development http://www.nism.ac.in/ Mumbai Stock Exchange Training Institute Mumbai Various certification courses http://www.bsebti.com/ Cost in Fees The cost of a MBA from a top college in India would range between INR 8.0 lacs to INR 25.0 lacs including allied costs. An MBA from abroad would range between INR 35.0 lacs to INR 90.0 lacs including allied costs. The fees for various diploma courses and certification courses that are available in India start from INR 4,000.0 to INR 1.0 lac. Job Profiles All in all, one can work in any of these broad categories: Work for institutions like brokerage houses, catering to retail clients Advisors Security traders Work for self, i.e., own practice The job roles usually offered are: Security sales representative Securities trader Securities broker Securities analyst The responsibilities of an equity analyst would typically include: Buying and selling securities for their client Acting as a securities sales advisor, suggesting clients what to buy or sell Elucidating stock market jargons and trading strategies to client Offering financial counselling and devising financial portfolios Opportunities and Growth The growth and outlook of the brokerage houses is in sync with the economy. The last two years were very good for the industry. In the present year, even though the Indian economy and the financial market has been subdued to quite an extent, the inherent numbers of IPOs or Initial Public Offerings have increased considerably. Moreover, the inherent position of the Indian market is quite better than those in other markets, such as China which had suffered a huge market crash recently, as well as markets in Europe India is in a brighter spot in the global equity market helped by the favourable macro-economic environment. However, the global scenario might take a while to turn around. Moreover, with so many listed companies in India and so many IPOs coming every year, there is a huge scope for the stock broking industry in India. Industries to Explore A stock broker would be working in the following industries: Banking and Financial Services Industry (BFSI): Brokerage firms, like, Karvy, Sharekhan Investment Banks like, JP Morgan, Goldman Sachs Banks, like, SBI, Deutsche Bank Mutual Funds like, Franklin Templeton, Mirae Asset Business houses, like, Tata Group, AB Group – Recruits for in-house trading The CV of a stock broker The key skills that the recruiters look for in a stock broker at entry level are: Excellent communication and interpersonal skills – The job profile requires regular interaction with clients Ability to work under pressure – A stock broker has to take decisions in a fraction of a second and time would always be on the other side of the field. The individual should be self-motivated, proactive and possess a passion for investing and financial markets. Earnings The compensation for the equity researchers are average at the initial stage of the career. Typically, their packages include a substantial bonus component. In India, the typical salary for an entry level analyst would range from INR 2.0 lacs per annum in small brokerage firms to INR 10.0 lacs per annum in the bigger brokerage houses, recruiting for proprietary trading profiles. The US counterparts earn more than $ 40,000 per annum plus bonuses. What Next? The sub-broker would look forward to climb up the ladder and become a broker. After substantial experience, one can open one’s own brokerage house or advisory services ---------------------------------------------------------------------------------------------------------------------------------------------- Latest Articles: Suit Up for a Career in Banking | Sports Management - Be the Sports leader for all games | A Career in Interior Designing | Striving to Make a Difference: Career as Development Practitioner | Put on your Dancing Shoes | Be a Piece of Art to Enter the Industry of Glamour: Career in Modelling | Play the mind game to start a career in Sports Psychology
Suit Up for a Career in Banking : Whatever the point of entry, there is a chance of high growth in the field of Banking. Also, there are vast avenues for networking, social service, making a name for oneself and self satisfaction. A working person always earns more than what he can carry around in his pocket. This extra money not only needs safeguarding but also further investment so that it can earn more money. Both of these functions together define Banking. Career Fact: Switzerland, a country which is mere 132nd area-wise and 98th population-wise in the world, is the financial capital of the world since it is the most preferred banking destination in the world. Banking is the management of other people’s money.. In earlier times, banking was limited to loans and safeguarding of deposits. Now the services provided by banks have increased manifold like providing debit and credit cards, lockers, ATM services, online transfer of funds, insurance, brokerage services, fund managers, risk management services, advice to corporates etc. With the increase in the roles played by banks, the need for skilled professionals to manage the same has also risen. Apart from Graduates and Post-graduates, professionals like CA, MBA, MCA, Actuaries are enjoying lucrative career in banking. Top Institutes Overseas (as per 2014 updated rankings by Forbes.com excluding USA) Most MBA courses offered internationally by reputed universities have integral banking courses as a part of their financial concentrations. Ranking School Location Courses Offered Eligibility 2014 Salary Website #1 Insead France Mba Graduation $209 K www.insead.edu/ #2 IMD Switzerland Mba Graduation $226 K www.imd.org/ #3 Cambridge (Judge) UK Mba Graduation $169 K www.jbs.cam.ac.uk/ #4 SDA Bocconi Italy Mba Graduation $160 K www.sdabocconi.it/ #5 IE Business School Spain Mba Graduation $175 K www.ie.edu/ #6 Cranfield UK Mba Graduation $135 K www.som.cranfield.ac.uk/ #7 Oxford (Said) UK Mba Graduation $150 K www.sbs.ox.ac.uk/ #8 Warwick UK Mba Graduation $121 K www.wbs.ac.uk/ #9 Lancaster UK Mba Graduation $95 K www.lancaster.ac.uk/lums/ #10 S P Jain Dubai Mba Graduation $57 K www.spjain.org/ India Apart from these courses employees of various banks can pursue diploma, certificate and management courses offered by Indian Institute of Banking and Finance (IIBF), a professional body of banks, financial institutions and their employees. Different bank structures can be categorized as follows : RECRUITMENT PROCESS Public Sector Banks generally recruit at two levels: Clerical: Minimum qualification is 10+2. Selection is through competitive exam. On clearing of JAIIB and CAIIB certificates, the candidates can reach upto the level of Chief Managers and above. Probationary Officer/Assistant Manager: Minimum qualification is Graduation in any discipline. Selection is through competitive exam. These candidates can reach upto the top-most level i.e. CMD. Recruitment to the above two cadres is looked after by IBPS, a body for joint recruitment in Clerical and PO cadre in Public Sector Banks. Also, recruitment of specialists in Middle Management posts like IT experts, Lawyers, CAs, MBAs etc., is undertaken by each Public Sector Bank individually. Private Banks generally prefer graduates for recruitment at any level. Executive level jobs are filled with professionals like MBAs, CAs etc., through direct interview, campus placement etc. Required Education Skills and Career Prospects: Work Profile and Salary Structure Due to expanding nature of banking operations, there are a number of job profiles active nowadays in banks. General Branch Banking - In PSB's generalist officers are recruited as Probationary Officers POs and the clerical cadre with remuneration of appx Rs 20,000 a month plus for clerical cadre and Managerial cadre earns appx Rs 40,000 plus perks. Sales and Marketing Officer - They look after development of sales and marketing of new and existing products and services offered by the bank. Starting salary for marketing officer is in the Rs 50,000 plus range, plus commissions on sales. Product Design Officers - Their main focus is on designing of new and relevant products and services. The preferred candidates are Actuaries and CA's. Technology Officers - B.Tech, BE or MCA are preferred for these posts. They look after technology driven banking operation, innovation and automation. They earn at par with POs. Investment Bankers - This is a high risk-high gain area. Generally MBA's from reputed institutes and experienced CA's are preferred. Overseas compensation are as high as 2 crores. Credit Officers - They look after the credit policy making and approval and disbursal of loans. PSB's appoint POS, however private banks prefer specialized officers. There are various other profiles reserved for more experienced and senior management executives like - arbitration, corporate financial consulting, IPO management etc. Future Prospects There is a prospective chance of 4-5 lakh job openings in banking sector in next 5 years. Whatever the point of entry, there is a chance of high growth in this field. Also, there are vast avenues for networking, social service, making a name for oneself and self satisfaction. Mohammad Yunus of Bangladesh won a Nobel Prize for pro-poor banking. CSR and other social initiatives by banks provide a chance to their employees to work in the field of Social Service and achieve a higher level of satisfaction. In short, Banking possesses all the qualities looked for in a good job opportunity, especially if you want to excel in handling financial assets as well as people. ---------------------------------------------------------------------------------------------------------------------------------------------- Latest Articles: Sports Management - Be the Sports leader for all games | A Career in Interior Designing | Striving to Make a Difference: Career as Development Practitioner | Put on your Dancing Shoes | Be a Piece of Art to Enter the Industry of Glamour: Career in Modelling | Play the mind game to start a career in Sports Psychology | Sparkle as a Jewellery Designer | Career in Optometry