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Engineering Student Advice: Tips for Success

Nayagam P

Nayagam P P  |4408 Answers  |Ask -

Career Counsellor - Answered on Sep 08, 2024

Nayagam is a certified career counsellor and the founder of EduJob360.
He started his career as an HR professional and has over 10 years of experience in tutoring and mentoring students from Classes 8 to 12, helping them choose the right stream, course and college/university.
He also counsels students on how to prepare for entrance exams for getting admission into reputed universities /colleges for their graduate/postgraduate courses.
He has guided both fresh graduates and experienced professionals on how to write a resume, how to prepare for job interviews and how to negotiate their salary when joining a new job.
Nayagam has published an eBook, Professional Resume Writing Without Googling.
He has a postgraduate degree in human resources from Bhartiya Vidya Bhavan, Delhi, a postgraduate diploma in labour law from Madras University, a postgraduate diploma in school counselling from Symbiosis, Pune, and a certification in child psychology from Counsel India.
He has also completed his master’s degree in career counselling from ICCC-Mindler and Counsel, India.
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Praveen Question by Praveen on Sep 08, 2024Hindi
Career

Sir not able to find your tips/strategies to followed by 1st yr Engineering student till last yr . Kindly provide on which date was this given by you or link .my daughter doing CSE (AI& ML ) wants to do best online certification course which one would be best course for her on NPTEL - kindly advise My

Ans: Praveen Sir,

As desired by you, given below are the steps/strategies/techniques to be followed from 1st Year till last year.

1) Visit the college campus & your CSE Department. Spend around 2-3 hours, if the college has not yet opened.

2) Check the reviews/do thorough research about the college in Google/Quora. Please note, no college can be 100% perfect and the perception/opinion of the students about the college differs from one another. Keep in mind any negative evaluations of universities, but avoid making predetermined conclusions until you get them validated after joining the college, as the internet is flooded with information with differing opinions.
3) If the course curriculum is available on the college’s website, go through it.
4) Try to research your favorite subjects in Google / YouTube / LinkedIn etc. till college opens.
5) Now, create your professional-looking LinkedIn Profile.
6) It is advisable to create a new professional email ID (preferably Gmail ID) like ‘ravikant_btech or ravikant_tech or ravikant_cse_tech’ etc. (for LinkedIn/Job Applications/Certificate Courses) INSTEAD of using the same personal email ID that you might be having already.
7) You can provide your email ID to the college if it stresses for the same ID when you applied for the college No issue.
8) Have a limited/like-minded friends circle though you can interact with all the students of your classroom.
9) Involve in co/extra-curricular activities, related to your domain or which will be of your interest. This will help you in the long run for Campus Interviews/Abroad Education etc.
10) Avoid skipping any classes and take notes, provided by the Faculties. Class notes are more important for all tests/exams in your college.
11) Have a good/professional relationship with all faculties of the CS department.
12) Create a separate note-book for doubts for each subject.
13) Whenever doubt-clearing sessions are conducted, fully utilise them and get all your doubts cleared and note down to avoid 11th hour pressure before each test/exam.
14) Important: Maintain a decent SGPA/CGPA of 8.5 and above without any backlogs/arrears.
15) After 1st Semester is over, start learning and/or upgrading new skills from NPTEL, LinkedIn, Coursera, Upgrad, Internshala etc. and / or recommended by your faculties.
16) Once you complete the online/offline short-term courses & get certificates, immediately update them in LinkedIn.
17) MOST IMPORTANT: Put job alerts in LinkedIn, related to your domain (CSE), get notifications, go through the JD (Job Description) of each job vacancy to know the job market trends and prepare yourself for the same.
18) Whenever you get an opportunity, interact with the 2nd to 4th year students & get their advice which will enable you to plan after completing each academic year.
19) Whenever Campus Recruitments are taking place, if time permits, interact with the last year students after they attend the interview, to know about the assessment tests, interviews, group discussion, selection process & companies visited.
20) Placement cell of most of the colleges displays the names of the recruiters/companies visited during the last 3-years. Whenever time permits, do a research about each company by visiting its website.
21) It is advisable to start preparing for assessment tests of Campus Recruitment, once you enter into 4th year.
22) Decide in advance in 4th year itself, whether you want to go for the job after your BTech or to pursue your Masters in India or Abroad.
23) If decided for Masters, start preparing well for Entrance Exams/IELTS/TOEFL/PTE etc. whichever is applicable.
24) Before approaching an Abroad Education Consultant, conduct thorough study on the countries and universities you are interested in.
25) Please note, your college cannot arrange to provide internships for all students. If you get, well and good.
26) If not, you should start trying through LinkedIn, Internshala, any other Internship platforms, or through your parents/their colleagues in any of their companies for Internship (instead of relying only on your college).
27) As far as the Campus Interview is concerned, prepare a good/professional-looking Resume just in 1-page as you will be a fresher. Use ‘cultivatedculture’ Resume Building Platform which is very user-friendly and free also.
28) To prepare for the online or offline interview, prepare yourself with Mock Interviews using your mobile phone with the help of your family members/friends. Conduct at least 10 mock interviews, correcting yourself in each one for your responses to the questions as well as your body language.
29) Preparing around 20-25 technical / non-technical questions & answers for the same in advance will further boost your confidence when you face actual interviews.
30) When applying for campus interviews, prioritize organizations with job descriptions that fit your profile, hobbies, credentials, qualifications, location, job title, and company reputation.
31) However, have Plan B & Plan C if campus recruitment does not work out.

Hope, I have covered almost all aspects with value-additions.

Regarding NPTEL, to begin with, please advise her to join the course titled, "AN INTRODUCTION TO ARTIFICIAL INTELLIGENCE'. This will boost her confidence. Please type in google ' NPTEL Artificial Intelligence'. You will get the link as I am not authorised to provide direct link here Sir.. This course is conducted by an IIT-Delhi Professor Mausam. Gradually, she can go on joining other certifications, recommended by her college faculties.
All the BEST for Your Daughter's Bright Future, Praveen Sir.

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Asked on - Sep 08, 2024 | Answered on Sep 09, 2024
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Thanks a lot
Ans: Welcome Sir.
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Ramalingam

Ramalingam Kalirajan  |8186 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 04, 2025

Asked by Anonymous - Apr 04, 2025Hindi
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Money
i need guidance. i am 63 yrs with housing loan of 70lakh. Only asset is a house with market value 2 crore. i have 2 daughters to be married. I need to retire and start my practice as doctor. Guie me to a investment to live with 30000 monthly and to buy a house 0f 8 lakhs after disposing the property/ Presently earning 1.5L per month. pl suggest. shud i sell the property
Ans: Your situation requires a well-thought-out financial strategy. You have a housing loan of Rs 70 lakh, a house worth Rs 2 crore, and a need for Rs 30,000 per month after retirement. Additionally, you plan to buy a house worth Rs 8 lakh and have two daughters to be married. Below is a structured approach to help you achieve financial stability.

Selling the Property – A Necessary Step?
Selling your house is a practical option. Your outstanding loan is Rs 70 lakh, and the house is worth Rs 2 crore.

After repaying the loan, you will have Rs 1.3 crore. This can be used for investments and future expenses.

If you continue living in this house, EMIs will be a burden. Selling will free you from debt and give you financial stability.

Consider renting a home instead of buying again. This will keep more money available for investments.

Buying a House for Rs 8 Lakh
If you want to buy a smaller house for Rs 8 lakh, use only a small portion of your funds.

Avoid taking another loan. Pay for the house in full from the sale proceeds.

Ensure the house is in a location with good facilities, medical access, and safety.

Creating an Investment Plan for Rs 1.3 Crore
After selling your house and clearing the loan, you will need an investment plan.

Keep Rs 10-15 lakh in a bank FD or liquid mutual funds. This will act as an emergency fund.

Invest Rs 30-40 lakh in debt mutual funds. These provide stability and liquidity.

Invest Rs 50 lakh in equity mutual funds for long-term wealth growth. Use regular plans with a Certified Financial Planner.

Keep Rs 10-15 lakh in a balanced fund for moderate returns with lower risk.

Generating Rs 30,000 Monthly Income
Debt mutual funds can provide a stable withdrawal option. Withdraw systematically for monthly expenses.

Use a mix of dividend and growth options. This ensures you get both regular income and capital appreciation.

Equity funds will provide growth, helping you sustain your money for 20-25 years.

Managing Daughters’ Marriage Expenses
If you need Rs 20-30 lakh for each daughter’s wedding, set aside Rs 40-60 lakh from the sale proceeds.

Invest this amount in a mix of debt and equity funds. This will help you reach your goal in a few years.

Avoid withdrawing from your retirement corpus for wedding expenses.

Starting Your Medical Practice
If you plan to start a medical practice, keep Rs 10-20 lakh for setting it up.

Avoid heavy investments in infrastructure initially. Work from an existing clinic or shared space.

Ensure you have medical indemnity insurance to protect yourself.

Final Insights
Selling your house will give you financial freedom and remove loan pressure.

Invest wisely to generate a steady monthly income and secure your daughters' futures.

Do not invest in real estate again. Keep your funds liquid and flexible.

Work with a Certified Financial Planner to review your investments regularly.

Focus on financial security rather than high-risk investments.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |8186 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 03, 2025

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Dear Sir, I am 47 years old IT professional. My current salary is 1.5 lakhs per month. I have a daughter who just completed her 10th board exam. My corpus is around 1.6Cr FD&PPF; 30 lakhs in MF & stocks; 50 lakhs in EPF. I have no debt and living in my own house. Please suggest if I can plan for retirement
Ans: Your financial position is strong, and planning for retirement at 47 is a smart decision. Below is a detailed 360-degree approach to assess whether you can retire comfortably and how to ensure financial security.

Understanding Your Current Financial Position
Income: Rs 1.5 lakh per month.

Corpus:

Rs 1.6 crore in Fixed Deposits (FD) and Public Provident Fund (PPF).

Rs 30 lakh in mutual funds and stocks.

Rs 50 lakh in Employees' Provident Fund (EPF).

Liabilities: No debts.

Assets: Own house, ensuring no rent or EMI burden.

Family Responsibility:

Daughter has just completed the 10th board exam.

Higher education expenses need to be planned.

Key Considerations Before Retirement
Expected Retirement Age

If you plan to retire early (before 55), corpus sustainability needs careful assessment.

If you work till 60, it will provide a larger financial cushion.

Post-Retirement Expenses

Living expenses, healthcare, travel, and lifestyle costs must be considered.

Inflation will increase future expenses.

Daughter’s Education

Higher education costs are significant.

Corpus should cover both education and retirement without compromise.

Medical Expenses

Health costs increase with age.

A high health insurance cover is essential.

Wealth Growth vs. Safety

A mix of equity and debt investments ensures growth while preserving capital.

Excessive reliance on FDs and PPF may limit long-term wealth accumulation.

Assessing If You Can Retire Comfortably
Current Corpus Size

Rs 2.4 crore (excluding house) is a strong starting point.

But, inflation will reduce its real value over time.

Expected Corpus Growth

Investments in mutual funds and stocks should continue to grow.

PPF and EPF offer stable but lower returns.

Withdrawals Post-Retirement

Sustainable withdrawals should not deplete the corpus too soon.

A balanced investment strategy is required.

Gaps in Planning

Heavy reliance on FDs and PPF may not be ideal.

More equity exposure can ensure inflation-beating returns.

Steps to Strengthen Your Retirement Plan
1. Optimising Investment Strategy
Continue investing in mutual funds with a mix of large-cap, mid-cap, and flexi-cap funds.

Reduce dependence on FDs for long-term needs.

Equity mutual funds help counter inflation and grow wealth.

Avoid index funds as they provide average returns without active management.

Regular funds through a Certified Financial Planner (CFP) offer expert monitoring.

Diversify investments between equity, debt, and fixed-income products.

2. Planning for Daughter’s Education
Higher education costs can be Rs 30-50 lakh in the next 5-7 years.

Separate this goal from your retirement plan.

Increase equity investment to build an education corpus.

Avoid withdrawing from retirement savings for education.

3. Building a Healthcare Safety Net
Health insurance should cover at least Rs 30-50 lakh.

Consider super top-up plans for additional coverage.

Maintain an emergency medical fund to cover non-insured expenses.

Review insurance policies periodically.

4. Creating a Sustainable Withdrawal Plan
Avoid withdrawing a large portion of the corpus in early retirement years.

Keep at least 5 years of expenses in liquid assets.

Equity exposure should reduce gradually as retirement progresses.

Use dividends and interest income before selling assets.

Final Insights
Retirement is possible, but adjustments are needed for long-term security.

Continue investing aggressively for the next few years.

Ensure daughter's education is planned separately.

Review investments and insurance regularly.

Keep flexibility in withdrawal strategy post-retirement.

A structured plan will ensure a financially secure and comfortable retirement.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

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Ramalingam Kalirajan  |8186 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 03, 2025

Asked by Anonymous - Apr 03, 2025Hindi
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My employer offers a salary sacrifice scheme for pension contributions, but I don't fully understand how it works. What are the potential advantages and disadvantages of joining such a scheme, and how does it affect my take-home pay and long-term financial planning?
Ans: A salary sacrifice scheme for pension contributions allows you to give up a portion of your salary in exchange for increased employer contributions to your pension. It has tax and National Insurance (NI) advantages but also some potential drawbacks.

How Salary Sacrifice for Pension Works
You agree to reduce your gross salary by a chosen amount.

Your employer contributes this amount directly to your pension.

Since your taxable salary is lower, you pay less income tax and NI.

Your employer also saves on NI and may pass on some or all of this saving to your pension.

Advantages
1. Tax and NI Savings
You don’t pay income tax or NI on the sacrificed amount.

Your employer saves on NI (currently 13.8%) and may increase your pension with these savings.

2. Higher Pension Contributions
Since more money goes into your pension, your retirement corpus grows faster.

Compounding over time enhances long-term wealth.

3. Increased Take-Home Pay
Although you sacrifice part of your salary, the NI savings may offset some of the reduction.

Depending on employer policies, your net pay may not drop significantly.

4. Potential Employer Matching
Some employers pass their NI savings into your pension, increasing your total contributions.

Disadvantages
1. Reduced Gross Salary
A lower salary means reduced future pay rises if they are percentage-based.

Life cover, sick pay, and redundancy pay linked to salary may be affected.

2. Lower Borrowing Capacity
Mortgage applications consider salary; a lower reported income might reduce borrowing potential.

3. Impact on State Benefits
If salary drops below certain thresholds, statutory benefits like maternity pay and state pension could be affected.

4. Restricted Access to Pension
The extra pension savings cannot be accessed before retirement (except under specific conditions).

Effect on Take-Home Pay
Your net pay will be slightly lower, but less than the actual amount sacrificed.

The tax and NI savings cushion the impact.

If your employer adds their NI savings, your total retirement savings increase.

Effect on Long-Term Financial Planning
Your pension fund grows faster, improving retirement security.

Short-term disposable income is slightly reduced, so budget planning is important.

Consider how the reduced salary affects other financial goals like buying a house or saving for education.

Should You Opt for It?
If employer NI savings are passed to your pension, it’s highly beneficial.

If you are close to lower tax bands or state benefit thresholds, assess the impact.

If you plan to apply for a mortgage, check how it affects your eligibility.

A Certified Financial Planner (CFP) can help assess your personal situation before making a decision.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |8186 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 03, 2025

Asked by Anonymous - Apr 03, 2025Hindi
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Money
Hi Sir , Greetings of the day!! hope you are doing well !! I want to do a savings of 50 lacs in as much less time span as possible because I want to buy a property in Gurgaon. My monthly salary is 1 lac 11k and I am currently investing 10k in mutual fund monthly and 50k in nps yearly. Can you please guide me how can I save 50 lacs and in how much time ?
Ans: Your goal of saving Rs 50 lakh for a property in Gurgaon is ambitious but achievable with the right strategy. Below is a structured approach to help you reach your target in the shortest possible time.

Understanding Your Current Financial Position
Your monthly salary is Rs 1.11 lakh.

You invest Rs 10,000 per month in mutual funds.

Your annual NPS contribution is Rs 50,000.

You haven't mentioned any liabilities or existing savings. If you have any ongoing EMIs or debts, they should be factored in.

Key Considerations for Achieving Rs 50 Lakh Target
The speed of reaching Rs 50 lakh depends on savings rate and returns.

High savings rate is the most reliable way to accumulate wealth.

Investment returns are uncertain and depend on market conditions.

A balanced approach is necessary to ensure stability and growth.

Increasing Your Savings Rate
Currently, you are investing Rs 10,000 per month.

If you can increase it to Rs 50,000 per month, you will reach Rs 50 lakh faster.

Cutting discretionary expenses will free up more money for investments.

Consider reducing unnecessary spending on dining out, luxury items, and vacations.

Redirect bonuses, incentives, or salary hikes towards savings.

Choosing the Right Investment Instruments
Mutual Funds for Growth
Actively managed equity mutual funds can generate better returns than fixed deposits.

A mix of large-cap, mid-cap, and small-cap funds can balance risk and reward.

Mid-cap and small-cap funds have higher growth potential but also higher volatility.

Avoid index funds as they provide average returns and lack active risk management.

Debt Investments for Stability
Fixed deposits, debt mutual funds, and PPF provide stability.

These should be used for short-term parking rather than long-term growth.

Debt mutual funds are taxed based on your income tax slab.

Avoid locking too much money in low-return instruments.

Balancing Risk and Return
Investing entirely in equity mutual funds can generate high returns but comes with volatility.

A mix of 80% equity and 20% debt can provide stability.

As your target nears, shift more funds towards safer instruments.

Avoid speculation and high-risk investments like cryptocurrency.

Role of NPS in Your Goal
NPS is good for retirement but not ideal for short-term goals.

Partial withdrawal is allowed only under specific conditions.

Do not rely on NPS for your property purchase.

Managing Tax Efficiency
Equity mutual fund LTCG above Rs 1.25 lakh is taxed at 12.5%.

Short-term capital gains (STCG) are taxed at 20%.

Debt mutual fund gains are taxed as per your income slab.

Investing in tax-efficient instruments will maximize returns.

Estimating the Timeframe
If you invest Rs 50,000 per month, you can accumulate Rs 50 lakh in about 7-8 years with moderate returns.

If you invest Rs 75,000 per month, you can reach Rs 50 lakh in about 5 years.

The faster you increase your savings, the sooner you will achieve your goal.

Final Insights
Increase your monthly investment to at least Rs 50,000.

Focus on actively managed equity mutual funds.

Keep a small portion in debt for stability.

Avoid unnecessary expenses and invest salary increments.

Do not depend on NPS for this goal.

Monitor and adjust your portfolio as needed.

Stay disciplined and patient to achieve your target.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Dr Dipankar

Dr Dipankar Dutta  |1092 Answers  |Ask -

Tech Careers and Skill Development Expert - Answered on Apr 03, 2025

Dr Dipankar

Dr Dipankar Dutta  |1092 Answers  |Ask -

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