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Shekhar

Shekhar Kumar  |154 Answers  |Ask -

Leadership, HR Expert - Answered on May 20, 2024

Shekhar Kumar is senior manager, talent acquisition, at the Shri Venkateshwara University in Gajraula, Uttar Pradesh. He has 18 years of expertise in the search and placement of executive leadership talent across various industries.
He has also mentored middle and senior management professionals for leadership positions and guided them in career development.
Shekhar has a bachelor's degree in business management from Magadh University, Bihar, and a master's degree in human resource management from Annamalai University, Tamil Nadu.... more
Asked by Anonymous - Apr 30, 2024Hindi
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Career

I am a Banker. I have worked as finance professional for 20 years now but I have not excelled in my career as I am not great at finance. I have been dragging myself for 20 years now. Can you help as to how can I change my career to which I like as well as excel in it.

Ans: It's commendable that you're seeking a career change after 20 years in finance. Changing careers can be challenging but also highly rewarding if it aligns with your interests and strengths. Here is some advice to help you transition into a new career that you both enjoy and excel at, but first do a self-assessment to know what you truly enjoy doing. Use career assessment tools and resources like LinkedIn, job boards, and industry publications to explore different career options. Consider hobbies, activities, or subjects that you find engaging and fulfilling. Assess your transferable skills, such as problem-solving, analytical thinking, communication, leadership, and any technical skills you’ve developed. Look into various career fields that align with your interests and strengths. Consider fields like education, healthcare, technology, non-profit work, entrepreneurship, etc. Talk to professionals in fields you’re interested in. This will give you insights into your day-to-day responsibilities, required skills, and potential challenges. Determine what new skills or qualifications you need for your desired career. This might include technical skills, certifications, or degrees. Platforms like Coursera, Udemy, and edX offer courses in various fields. Consider enrolling in relevant courses to build your skillset. Use your financial background to become a business or financial consultant. If you enjoy teaching, consider becoming a finance professor or instructor. Alternatively, you could move into administration or counseling within educational institutions. Leverage your management and analytical skills in the healthcare sector, which often seeks professionals with strong organizational and financial skills. Consider roles in fintech, data analysis, or project management. Changing careers after 20 years in finance is a significant step, but with careful planning, skill development, and a strategic approach, you can successfully transition to a career that you enjoy and excel in. Focus on what drives you and aligns with your strengths, and take actionable steps toward achieving your new career goals.
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Aashish

Aashish Sood  | Answer  |Ask -

CAT, Management Expert - Answered on May 30, 2024

Asked by Anonymous - May 30, 2024Hindi
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Career
Hii .I'm a PSU bank manager. I have experience of 12 years. I m frustrated by the torture in banking these days. I m d only bread winner in family. I m slowly degrading my mental as well as physical health.Please advise me for some career switch option
Ans: I'm sorry to hear about the difficulties you're facing in your current role. It's crucial to prioritize your mental and physical well-being, and considering a career switch can be a step toward a healthier and more fulfilling professional life.

Reflect on your skills, interests, and what aspects of your current job you enjoy or excel at. Consider taking a career assessment test to identify potential career paths aligned with your strengths and interests.

Use your banking experience to become a financial advisor or wealth manager. This role allows you to work closely with clients to manage their finances, investments, and retirement planning. You can transition to a corporate finance role within a company, focusing on financial planning, analysis, and management. You may decide to leverage your banking experience to move into risk management or compliance roles, focusing on ensuring organizations adhere to regulations and manage risks effectively.

If you enjoy mentoring and educating others, consider teaching finance, banking, or business management at educational institutions.

If you have a business idea or passion project, consider starting your own business. This allows for more control over your work environment and schedule.

You can use your extensive experience to become a consultant in banking, finance, or business operations. Consultants often have more flexible work arrangements and can work on diverse projects.

Switching careers can be daunting but also rewarding if it leads to a healthier and more satisfying professional life. However, with your experience, it should be a fairly simple thing for you to do.

Prioritize your health, do thorough research, and make a strategic plan to achieve a successful career transition.

..Read more

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Milind

Milind Vadjikar  |1152 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Apr 04, 2025

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Sir, Age: 26 Subject: NPS ( National Pension Scheme) Scheme Choice : LC 75 ( Aggressive Auto Choice) Tier : Tier 1 Pension Fund: ICICI Prudential Pension Fund Current value of scheme : Rs. 57927/- Investing Rs. 5600/- on a monthly basis My goals: Want my portfolio to beat inflation and provide a pension of Rs. 1 lakh monthly ( in hopes that beating inflation value of Rs. 1 lakh does not decrease over time) Time horizon : 34 years Questions: 1. Sir will my NPS scheme beat inflation? 2. Is the Pension Fund ( ICICI Prudential) a good choice or should I shift? 3. Will one lakh pension after 34 years be enough to support my lifestyle? (Assuming that everything pans out smoothly) 4. Judging by today's tax law income up to 12 lakh p.a. is non taxable, will I be taxed on my pension still if the law remains as is? (Hypothetical question) My details : 1.Unmarried, never planning on marriage or kids ever. 2.Current utility bills amount to Rs. 15,000 per month 3. Other expenses Rs. 5-7k per month. 4. I have other investments too, but I want to know if I can rely on NPS in old age or not. With this information alone, is retirement with NPS feasible?
Ans: Hello;

Your current expenses add upto 22 K per month.

After 34 years this amount will be 1.6 L per month considering 6% inflation.

This would need a corpus of 5-6 Cr.

Your current investment would fetch you around 1.2 Cr which is quite low.

You need to invest minimum 25 K per month in NPS to expect 5 Cr+ corpus build after 34 years. (A modest 8% return considered from NPS)

Also you may shift from Auto choice to Active choice so as to ensure 75% allocation to equity upto 50 age.(In Auto choice after 35 age equity allocation is tapered down).

You are allowed to have different fund managers for different asset classes based on their performance in respective category.

Current fund manager looks okay however you need to review performance every year.

For generating retirement corpus it is better to have 2-3 investment avenues rather then a single one.

A mix of EPF/PPF, NPS and MFs should be more appropriate.

Best wishes;

...Read more

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