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R P Yadav  |210 Answers  |Ask -

HR, Workspace Expert - Answered on Nov 30, 2023

R P Yadav is the founder, chairman and managing director of Genius Consultants Limited, a 30-year-old human resources solutions company.
Over the years, he has been the recipient of numerous awards including the Lifetime Achievement Award from World HR Congress and HR Person Of The Year from Public Relations Council of India.
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Sourish Question by Sourish on Nov 29, 2023Translate

I am 30 years old with experience of 9 years. I am getting a ctc of only 4.8 LPA as of now where people with my experience or less earning more. I am really disappointed with my career. I have following experice Assistant production manager/operations manager (for a jewellery manufacturing company)-1.7 years Sales commission partner (jewellery export company b2b, b2c)-6.5 years Operations manager (smart chip pvt ltd, govt project)-9 months. I have done b.tech in mechanical engineering. Please guide me through

Ans: Dear Sourish,
I would suggest to concentrate in yourself rather than looking at others. Try the best in your current company to get promotion and an increment. Parallelly you can try in any other similar companies to get a higher package.

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Chocko Valliappa  |73 Answers  |Ask -

Tech Entrepreneur, Educationist - Answered on Jan 17, 2024

Asked by Anonymous - Oct 01, 2023Translate
sir, i am 43 yrs old, completed my bachelors in Mechanical engg and doctorate from NIT. Presently, working in a private university with research and academic roles and responsibilities. With the interest of students in this domain has gone down drastically during the past few years, can you advice for a change in career like Data science etc as my present ctc is less than 8 lpa
Ans: Even though a career switch from a Doctorate in Mechanical Engineering to Data Science represents a transition that aligns with the growing interdisciplinary nature of modern research and industry I am of the view that you need to build on your years of academic experience in Mechanical Engineering by leveraging your doctorate in Data Science to further your career as a researcher professor in academia by contributing to cutting-edge research, guiding students, and shaping the field through your expertise.
Also explore consulting assignments in companies, especially in engineering and manufacturing, to help them use data science for optimization, predictive maintenance, and process improvement.
By wearing a Data Scientist in Engineering or Manufacturing hat marry your mechanical engineering background with data science skills look for roles that involve analyzing and optimizing engineering processes, designing experiments, and leveraging data for product development.
These are just two out of a host of options that you could explore by helping your university to build strong consulting practice and let your client see value and pay the top dollar. When that happens, the University will find ways to compensate your fairly for your value add.

Krishna Kumar  |73 Answers  |Ask -

Workplace Expert - Answered on Feb 19, 2024

Asked by Anonymous - Feb 19, 2024Translate
Dear Mr. Krishna Kumar....This is sandhu here....I have been working in the logistics industry for about 25 years. My initial requirement was to learn from the front end since I was working in the back operations...hence I moved on to another county worked in 2 companies a freight forwarder and a distributor...and I am now working in the gulf with the second company (Distributor of world-class brand in electronics ) for about 17 years and growth seems to be completely stalled in terms of position. I am right now in a middle management position however looking for management position for about 17 years but does not seem to be working. Really do not know what should I do and looking for more expert advise...should I change to teaching filed....I am completely stationary in terms of growth prospects.
Ans: Dear Mr.Sandhu

Feeling stagnated in work or life is a normal that we all need to embrace. Many a times this feeling comes more out of peer pressure than our own.

Firstly, please define what growth means to you...role & responsibilities, position, salary, team size, value creation.

Secondly, do an honest assessment for self in each of the above areas and see where you think you are not growing.

Thirdly, ask yourself what is it that you want to do, if you feel for teaching then go for it but if it is a compromise because you feel you are not growing then I would suggest don't.

Fourthly, take up some courses that can enhance your skill sets.

Lastly, assess your own needs and wants at the stage of life you are in, talk to your family and see if what you have is good enough to live a peaceful and contented life.

All the best.
Latest Questions

Moneywize   |59 Answers  |Ask -

Financial Planner - Answered on Feb 25, 2024

Asked by Anonymous - Feb 24, 2024Translate
I will be retiring in October 2024 and expecting a retirement corpus of Rs 80 lakh. I would be spending 60 per cent of this amount on my son’s medical admission and studies. How should I invest the rest in different sectors to earn monthly income of nearly about 40,000?
Ans: Given your retirement corpus of Rs 80 lakh and your plan to allocate 60% of it towards your son's medical admission and studies, which amounts to Rs 48 lakh, you'll have Rs 32 lakh remaining for investment. To generate a monthly income of approximately Rs 40,000, you'll need to carefully plan your investment strategy. Here's a suggested approach:

1. Assess Your Risk Tolerance: Before investing, consider your risk tolerance, investment horizon, and financial goals. Since you're retiring soon and seeking a regular monthly income, it's advisable to focus on relatively stable and income-generating investment options.

2. Allocate Funds: With Rs 32 lakh available for investment, you can allocate the amount across different investment instruments to achieve diversification and manage risk.

3 Income-Generating Investments: To generate a monthly income of Rs 40,000, you'll need investments that offer regular payouts. Here are some options to consider:

a. Senior Citizen Savings Scheme (SCSS): This government-backed savings scheme offers quarterly interest payouts. You can invest up to Rs 15 lakh individually and earn regular income at a fixed interest rate, currently around 7.4% per annum.

b. Post Office Monthly Income Scheme (POMIS): Another government-backed scheme that provides monthly income. The maximum investment limit is Rs 4.5 lakh for an individual account and Rs 9 lakh for a joint account. The current interest rate is around 6.6% per annum.

c. Fixed Deposits (FDs): Consider investing a portion of your corpus in fixed deposits offered by banks or financial institutions. Opt for monthly interest payout FDs to generate regular income.

d. Debt Mutual Funds: Invest a portion in debt mutual funds that focus on generating steady income with relatively lower risk compared to equity funds. Choose funds with a track record of consistent returns and low expense ratios.

4. Systematic Withdrawal Plan (SWP): For investments in mutual funds or other growth-oriented instruments, consider setting up a systematic withdrawal plan. SWP allows you to withdraw a fixed amount regularly, which can serve as your monthly income.

5. Emergency Fund: Set aside a portion of your corpus as an emergency fund to cover unexpected expenses or contingencies. This fund should be easily accessible and parked in liquid or low-risk instruments like savings accounts or liquid funds.

6. Review and Adjust: Regularly review your investment portfolio to ensure it remains aligned with your financial goals and income requirements. Adjust your asset allocation and investment strategy as needed based on changing market conditions and personal circumstances.

It's crucial to consult with a financial advisor or planner who can provide personalised advice based on your specific situation and goals. They can help you create a comprehensive retirement plan and investment strategy tailored to your needs, risk tolerance, and income requirements. Additionally, consider tax implications on your investment income and consult with a tax advisor to optimise your tax efficiency.
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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