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Mayank

Mayank Rautela  |235 Answers  |Ask -

HR Expert - Answered on Mar 02, 2021

Mayank Rautela is the group chief human resources officer at Care Hospitals.
A management graduate from the Symbiosis Institute of Management Studies with a master's degree in labour laws from Pune University, Rautela has over 20 years of experience in general management, strategic human resources, global mergers and integrations and change management.... more
Mohit Question by Mohit on Mar 02, 2021Translate
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Career

Sir,
I am still a fresher in the job market due to the lockdown.
I have failed to get selected in both online interviews as well as interviews I have personally attended.
I am feeling very demoralised.
Please share your valuable guidance.
With regards,
Mohit Dabra
B Tech (electrical), graduated in 2020 from YMCA Haryana
Applied for sales and marketing as a business development executive

Ans:

Hi Mohit.

You are a qualified engineer, yet you are applying for sales and marketing roles. That’s like a footballer wanting to get into the Ranji team.

Please focus on your core area of expertise and look for opportunities in the engineering field. In order to do so, you may have to supplement your skills with additional certificate programmes.

With global markets opening up, do keep your options open for international roles.

A master's degree in electrical engineering could also be a good option for you.

If sales is your area of interest, then focus on engineering product/services companies to make use of your educational background.

Career

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Dear Mayank,I am a BCom graduate with 25+ years of experience in accounts and finance.My designation is manager, accounts and finance.I have worked for reputed companies like Karvy Consultants, Ramky, VLCC Healthcare and others.On March 20, 2020, a few days before the lockdown, I was asked to resign from my job and my salary was paid on the same day.Since then, I have been applying for jobs continuously.I am not adamant about my designation. I am trying for all jobs that relate to my experiences. I have been searching through newspapers, Naukri.com, Monster and various social media but it has been a case of ‘Apply and apply but no reply’.Fortunately, both my kids are working from home in IT companies but being the senior responsible caretaker, I am sitting idle without a job in hand.Can you advise/suggest and help me to solve this problem.RegardsNagaraju U E
Ans:

Dear Nagaraju.

I appreciate your zeal and enthusiasm to continue to work even after a long career and the fact that your children are also working. Apart from what you have been doing, I would recommend these specific steps:

1. Reach out to your managers and colleagues who you have worked in the past as references are still the best way to get a job.

2. Since you have an accounting background, you can also consider working as a freelancer as there are many opportunities for part time gig workers.

3. Explore academics as a career option.

4. Giving back to the society is also very enriching, so do take up some charity or volunteer work.

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HR Expert - Answered on Feb 24, 2021

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Hello,I'm Swagato Ghose, 32, from Kolkata. During the pandemic and because of lockdown, I lost my job. I'm a marketing professional and worked for a print and packaging company based in Hyderabad.The situation is very difficult because, even after trying hard for the past two to three months, nothing positive is materialising.No organisations revert after the interview process and the salary offered during the interview time is negligible when compared to what I was getting before this lockdown happened.It's getting unbearable and I am on the verge of a nervous breakdown as the future seems absolutely uncertain.I'm badly looking for a decent opportunity, but there seems to be very little hope in these tough times as it looks like the recruitment has frozen in most of the good companies.I am really worried about the future and don't know how my professional career is going to shape up.How do I survive this phase?Thanks and regards,Swagato Ghose
Ans:

Hey Swagato.

Hold on! Never give up as life is always full of ups and downs.

A job loss in the time of a global pandemic is not a result of your performance but due to the slowdown in the economy.

Things are now getting back to normal and most companies have started selective hiring.

This is the time to start reskilling in your area of work so that you have the right skill sets that companies are looking for in your field.

Keep yourself engaged with some freelance work or even charitable work.

Remain positive and healthy and close to your loved ones.

You have a bright future.

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Financial Planner - Answered on Feb 25, 2024

Asked by Anonymous - Feb 24, 2024Translate
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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.
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