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Should I switch careers to data science with a mechanical engineering degree?

Chocko

Chocko Valliappa  |450 Answers  |Ask -

Tech Entrepreneur, Educationist - Answered on Oct 15, 2024

Chocko Valliappa is the founder and CEO of Vee Technologies, a global IT services company; HireMee, a talent assessment and talent management start-up; and vice chairman of The Sona Group of education institutions.
A fourth-generation entrepreneur, Valliappa is a member of Confederation of Indian Industry, Nasscom, Entrepreneurs Organization and Young Presidents’ Organization.
He was honoured by the YPO with their Global Social Impact award in 2018.
An alumnus of Christ College, Bangalore, Valliappa holds a degree in textile technology and management from the South India Textile Research Association. His advanced research in the Czech Republic led to the creation of innovative polyester spinning machinery.... more
Asked by Anonymous - Sep 25, 2024Hindi
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Career

Hi, I'm a 22 year old mechanical engineering graduate, currently unemployed, I'm confused between choosing career path, I want to learn Data Science, & now with my mechanical knowledge, I'm no better because I don't know anything because I never properly attended college because of my mental health. And I don't like working around with mechanical students & people. For now I have been applying for basic mechanical jobs. What should I do?

Ans: Hello, Your situation is not unique. Many bright people like you get bored with things easily. But that too should not worry about but stay positive and focused on your goal, there are ample learning resources online to pick the areas of knowledge you seek to work on. Talk to your teachers, class mates and ask them to suggest areas on how to get on this new knowledge seeking path. Be aware that there is nothing that is unachievable if you mind and heart are in it. Wish you all the best.
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Archana

Archana Deshpande  | Answer  |Ask -

Image Coach, Soft Skills Trainer - Answered on Apr 25, 2024

Asked by Anonymous - Apr 16, 2024Hindi
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Career
Hi, Im a 23 year old mechanical engineering graduate, currently unemployed, I am feeling to do some progress everyday, but day after day, nothing changes, I cant figure out what to do with this life and feeling very much lost, Cant think properly on doing what changes my life?
Ans: Hello!!

This information you have shared is not enough to understand what is that you are exactly wanting right now.
Let me see how I can help you. First of all extend your arm and pat yourself on the back for completing your engineering. You are a mechanical engineer!! Celebrate the fact and feel good about yourself.

I like the fact where you say "I am currently, unemployed", this can change soon, look out for opportunities, keep attending interviews, prepare well, ask for help, give it your best shot. Treat every failure as part of a learning process in becoming better next time. Surround yourself with positive and encouraging people.

Till you find a job, live life well on a day to day basis-
1. wake up early
2. exercise
3. eat well and sleep well
4. dress well at home too, don't be in your pyjamas, you should be in such a state that if someone asks you to come for an interview right away, you must be ready
5. beware of negative self talk... nip negative thoughts in the bud
6. looking for a job is your full time job, keep looking
7. be helpful around the house if you are living with your parents
8. till you find a job keep learning and building on your skills
9. volunteer to teach and help the less fortunate lot
10. do not sit idle, keep your body and mind active

Constantly invest in activities that ensure your physical, mental, emotional and spiritual well being!! Have rituals that focus on these four pillars of your life!

Blessings and all the very best!!

..Read more

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Milind

Milind Vadjikar  |417 Answers  |Ask -

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Milind Vadjikar  |417 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Oct 15, 2024

Asked by Anonymous - Oct 15, 2024Hindi
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Money
Hi Milind I am 52 years old single woman, from small town and who has worked hard ro reach to level in corporate with good salary. I have a corpus of about 5 crores and small flat in tier 2 town. I dont enjoy yhis new job wirh reputed brand and at a senior level as i dont find ut engaging or doing justice to role. My parents are old and i worry for rhem ans want to spent rkmw with them. With this corpus can i take a call to leave job and get decent income of atleast 2-2.5 lac a month. I have been quite action oriented, but now my mind and body feel exhasuted and also fear rhat without a job i will become lazy. Also living with parents will be a joy, at the same time resteictive to eating or socializing. I am quite concious ,if i leave this well paying ,senior role job with a big renonwed corporate which many of my friends aspired for and whole lot of people congratulated me ,they will think i was not able to justify my role,hence left . I dont want that impression at last stage of career as whole life i have been seen as hard working ,passionate professional. Such rhoughts are taking toll on my mental health. Please advise what should be done
Ans: Hello;

With the corpus that you have (5 Cr) you may buy an immediate annuity from a life insurance company and can expect to receive monthly payout of 2.5 L (pre tax)from the very next month. 6% annuity rate considered, if you shop around and negotiate you may get a better rate.

You can opt for increasing annuity to account for inflation and return of purchase price to your nominee, after you.

Ensure good health insurance policy to cover yourself and your parents.

Think about some vocation which you would like to pursue passionately after retirement.

You are seeking retirement from regular 9 to 5 job not from pursuit of your passion/goals.

It could be in the role of an consultant, counselor or educator.

You should take the decision which you feel is appropriate for you irrespective of what people comment because they will comment in any case.

Learn to ignore such people.

Happy Retirement!!

...Read more

Milind

Milind Vadjikar  |417 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Oct 15, 2024

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Milind Vadjikar  |417 Answers  |Ask -

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Money
Hello team, I am 40 years old and retired. I have 60 lakhs in hand (to be invested) with 5.60 lakh invested in diversified mutual funds, 2 lakhs in fixed deposit, 2.22 lakh in Sukanya (SSA). Will be drawing a pension of 30K/month. I don’t have any liabilities of home loan and car loan which I have already settled. Please advise me to invest my 60 Lakh for my future. I have a single child and she is studying in 10 grades. (a) Short term goal (for 1/2/3 years) - My daughter education yearly fees of 1.5 lakh - Foreign trips alternate year costing around 1.5 lakh - Monthly income of 20 K (b) Long term goal (in 10/15/20 years) - Daughter education (graduation/Post graduation) - Daughter marriage - Corpus of 1 Crore and above Your suggestions on Life term insurance and health insurance will be appreciated. I have central government health insurance still wanted to take up a private health insurance for better treatment.
Ans: Hello;

For goal under heading "a", I recommend you the following;

1. Invest 10 L in Arbitrage type of mutual fund (low risk) for the education funding requirement of your daughter.

2. Buy an immediate annuity for 40 L from a life insurance company which may yield you a monthly income of 20 K as desired. 6 % annuity rate considered.

3. Invest MF corpus(5.6 L) and FD sum(2 L) into an equity savings type mutual fund (low to moderate risk)
This will help fund your international vacations. Value 9.84 L in 3 years considering 9 % returns.

For achievement of goal under heading "b" invest 10 L lumpsum in a pure equity mutual fund for 20 years after which it will provide you a sum of 1.15 Cr. Top-up this investment as and when possible to prepone your target achievement in 15 or 12 years.(13% return considered)

You should have adequate term life cover atleast upto 60 years of age (Check for postal life insurance at your nearest post office if you want to buy) with suitable riders and also health care cover(HDFC ergo and Niva Bupa are good)despite CGHS.

Happy Investing!!

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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