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Amit

Amit Bansal  | Answer  |Ask -

Answered on Jun 18, 2010

au Question by au on Jun 18, 2010Hindi
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Career

I am Non - Graduate In feild of IT with over 7+ Year experience what would be scope of growth w/o the degree and would doing a degree a fresh now be recomendable, would have experience count post graduation

Ans: A graduation would definitely help. Seriously consider it.
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Abhishek

Abhishek Shah  |76 Answers  |Ask -

HR Expert - Answered on May 18, 2023

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Hello Abhishek, my age is 43 & I am a b.com graduate, currently working in an mnc since last 8 years in back office document management profile with around 50000 in-hand salary. I have total experience of 11 years in same profile. I am searching for new job since last 1-2 years but not getting it in similar profile as companies are preferring persons with less salary/experience for this work. Please advise shall I try for data analysis/PMO profile in IT sector by doing some courses & if it's possible/advisable at my age with non technical degree & non relevant experience. Is there any other field you can advise where I can get similar salary. Thanks for your help in advance. Wish to be Anonymous.
Ans: Hi there,

Based on your current situation, it is understandable that you are exploring new career opportunities. Transitioning to a data analysis or PMO (Project Management Office) profile in the IT sector is indeed a viable option. While it may require you to acquire some additional skills through relevant courses, it is possible to make a successful career switch at your age and with a non-technical degree.

To enhance your chances of securing a job in these fields, consider the following steps:

Research and assess the demand: Investigate the job market to determine the demand for data analysts and PMO professionals in your region. This will help you gauge the opportunities available and make an informed decision.

Identify required skills: Look for the key skills and qualifications sought by employers in these fields. This will give you a clear understanding of the specific knowledge and expertise you need to acquire.

Skill development: Enroll in courses or training programs that specialize in data analysis or project management. These courses will equip you with the necessary technical skills and knowledge required for these roles.

Showcase transferable skills: Highlight your transferable skills from your previous experience, such as attention to detail, problem-solving abilities, organizational skills, and proficiency in data management. These skills can be valuable in data analysis and PMO roles.

Networking: Build a professional network in the IT industry. Attend industry events, join relevant online communities, and connect with professionals already working in the desired roles. Networking can help you discover job opportunities and gain insights into the industry.

Regarding the salary aspect, it's important to note that a transition to a different field might come with initial adjustments in salary. However, with the right skills and experience, you can work your way up to a similar salary level as your current role or even higher.

Remember, age should not be a deterrent in pursuing a new career path. Many individuals successfully transition into new roles and industries at various stages of their lives. Stay motivated, be open to learning, and leverage your existing strengths to make a successful switch. Good luck!

Regards,
Abhishek

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Ramalingam

Ramalingam Kalirajan  |5194 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 24, 2024

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Money
Hi Sir, I have invested in a policy of HDFC bank with name HDFC Life Uday. In this I have been investing 24K per annum. Same amount i have to invest for 8 years that will end up in 2026. Maturity time is 2030. Can you please tell me how much amount will i get on maturity.
Ans: You have invested in the HDFC Life Uday policy, a traditional, non-linked insurance plan. You are paying Rs. 24,000 annually for 8 years, with the policy maturing in 2030.

Understanding HDFC Life Uday
HDFC Life Uday offers a combination of savings and protection. It includes a guaranteed sum assured and potential bonuses. However, this type of policy has several disadvantages.

Disadvantages of HDFC Life Uday
Lower Returns: Traditional policies typically offer lower returns compared to other investment options. The returns may not keep up with inflation.

High Costs: These policies often have higher costs due to premiums covering both insurance and savings components.

Limited Liquidity: Traditional policies have long lock-in periods. Accessing your money before maturity can be difficult and costly.

Inflation Impact: The fixed returns may not keep pace with inflation, reducing the purchasing power of your maturity amount.

Complexity: The structure of bonuses and guarantees can be complex and less transparent.

Surrendering the Policy
Given the disadvantages, it may be beneficial to surrender your HDFC Life Uday policy and reinvest in more efficient options.

Surrender Value: Before making a decision, check the surrender value of your policy. This is the amount you will receive if you terminate the policy early.

Reinvestment Strategy: Consider reinvesting the surrender value in mutual funds. Mutual funds can provide higher returns and greater flexibility.

Benefits of Mutual Funds
Higher Returns: Mutual funds generally offer higher returns compared to traditional policies.

Diversification: Mutual funds invest in a variety of assets, reducing risk.

Liquidity: Mutual funds are more liquid, allowing you easier access to your money.

Professional Management: Funds are managed by experts who adjust investments based on market conditions.

Flexibility: You can choose from a wide range of funds based on your risk appetite and financial goals.

Investing Through a Certified Financial Planner (CFP)
Consider investing in mutual funds through a Certified Financial Planner (CFP). Here’s why:

Expert Guidance: A CFP provides personalized advice tailored to your financial goals.

Regular Monitoring: They continuously monitor and adjust your investments to optimize returns.

Comprehensive Planning: CFPs offer a holistic approach, covering all aspects of your financial life.

Final Insights
Given the lower returns, high costs, and limited liquidity of traditional policies like HDFC Life Uday, it may be wise to surrender the policy. Reinvesting in mutual funds through a Certified Financial Planner can provide higher returns, greater flexibility, and professional management. Review your surrender value and consult a CFP for personalized advice and a comprehensive financial plan.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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Samraat

Samraat Jadhav  |1891 Answers  |Ask -

Stock Market Expert - Answered on Jul 24, 2024

Samraat

Samraat Jadhav  |1891 Answers  |Ask -

Stock Market Expert - Answered on Jul 24, 2024

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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