JOBS & CAREERS |
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Paying rich dividends
Career Hotline
In the realm of research
Jobs galore
OFFICE Mantra
Happiness @ work
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Paying rich
dividends
Insecurity and uncertainty has dogged the job market in present times of the so-called FEAR (False Evidences Appearing Real) of the Global Economic Crisis. But the situation seems to be not so grim for students of economics as far as getting plum jobs is concerned. There are 11,000 vacancies in the State Bank of India and 1,920 job opportunities in IDBI Bank Ltd (A Government of India undertaking) and all of these are meant for graduates and postgraduates in economics and allied subjects like commerce and management as economics is the mother science of all these subjects that are in demand today.
The latest developments in the world economy and consequent policy ethos have only added to the felt-need for trained/professional economists who are ready to take on the challenges of a globalised “knowledge-economy”. Even to become a politician the knowledge of economics is a must.
Vast scope
Whether we like it or not, there is no escape from the reality of goods and services. As long as these goods are to be produced and distributed with reference to the claims made in the present, without losing sight of the future, some kind of ‘rationality’ would be called for, and hence the need for economics as a discipline. More so, when we are living in a world full of contrasts — plenty co-existing with dehumanising poverty — one often ask the following set of questions: Who is to do what, why, when, where, and for whom? Why are we where we are and others in a different position? Can goods and services be different for us? What can we learn from the experiences of others as consumers, producers, distributors and traders? Can we tap the accumulated knowledge for alleviating poverty of one and all? Can we ensure good governance for inclusive growth? What are the options, instruments, and institutions available to us? Additionally, leaders in all walks of life also require, and play with strategies to stay at the top. For some it is a question of initiating change and bridging the gap, for others it is the management and sustainability of economic growth that is more important. Both sets are faced with economic questions and seek authentic answers. These types of questions are relevant for the individual (micro) as well as for groups. Each agent/agency can take its own decisions out of convention, tradition, habit, gut-feeling and the like, often the availability of professional advice is considered necessary and desirable. A need for trained (professional) economists springs from this source. A professional, besides having a strong spirit of enquiry, is required to be well versed in a variety of skills to handle a situation. But, that presumes an ability to comprehend the situation and think of alternatives, relate those to the past and come up with policy measures for the future. This calls for development of certain skills which is, by and large, not possible under the existing arrangement. In addition, the gap between theory and practice needs to be bridged through on-the-job training. The influx of foreign universities is partly due to the growing market for trained professionals. The indigenous systems need an urgent upgradation for negotiating this neo-imperialism. Quality product at affordable prices is the answer. There is certainly a case for making the present courses of study relevant for catering to the new/emerging demands on the profession and challenges faced by a ‘resurgent India’.
Matter of choice
Economics is about choice; taking decisions in one’s best interests given the constraints imposed by income, costs and time. It analyses how people, firms and governments obtain money and how their spending influences the production and distribution of goods and services. It emphasises people’s activities as they use their environment to produce goods and services and distribute them. Economists study how a society distributes scarce resources, such as land, labour, raw materials, and machinery, to produce goods and services. They conduct research, collect and analyse data, monitor economic trends, and develop forecasts. They research issues such as energy costs, inflation, interest rates, exchange rates, business cycles, taxes or employment levels.
Specialisation
The various specialisation in economics are : Agricultural Economics, Financial Economics, Labour Economics, Industrial Economics, International Economics, Econometrics, Development Economics, Economics of Human Resource Development, Health Economics, Rural Economics and Development and Business Economics. Various universities offer BA (Honours) in Economics to those who have had Mathematics at Plus II level. BA and B.Com courses are available in almost all the universities. BBA or BBS is available in most of the management institutes. Various universities offer MA in Economics through correspondence or distance education system. Kurukshetra University, Department of Economics has started M.Sc (Banking & Finance), M.Sc (Financial Computing) in addition to MA and Ph. D courses as well as M.Sc (Honours) five-year integrated course in economics. Career options A course in economics s opens career options in government agencies, business firms, non-profit organisations, and academic institutions. Some of the graduates enter the accountancy profession and some find employment as managers and administrators in market research, advertising, sales and personnel. Newspapers provide economics graduates to write reports on economic and business events. The Institute of Applied Manpower Research, New Delhi; Institute of Economic Growth, New Delhi, National Council of Applied Economic Research, New Delhi and Indian Council of Social Science Research offer ample job opportunities to economists. Financial institutions like the Reserve Bank of India, private and foreign banks and insurance companies offer good openings to postgraduate degree holders in economics. UPSC conducts Indian Economic Service Examination every year. It is open to graduates in Economics in the age group of 21 years to 30 years. (The writer is Chairman, Department of Economics, Kurukshetra University)
Growth graph
Master's or Ph.D. degree in economics is required for many jobs in private-sector and for advancement to more responsible positions. Whether working in government, industry, research organisations, or consulting firms, economists with a bachelor's degree usually qualify for most entry-level positions as research assistant, administrative or management trainees or for various sales jobs. A master's degree usually is required to qualify for more responsible research and administrative positions. Many business, research and consulting firms and government agencies seek individuals who have strong computer and quantitative skills and can perform complex research. A Ph.D. is necessary for top economist positions in many organisations. Many corporation and government executives are required to have a strong background in economics.
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Career Hotline
Q. I am doing BE (2nd year). Could you please tell me something about jobs in the hydropower sector? — Kamlesh Johar A. Hydropower, which uses the energy of flowing water to produce electricity, is one of the largest and least expensive sources of renewable energy produced in our country today (wind, solar, geothermal, and biomass being other sources). Most hydropower projects use a dam and a reservoir to retain water from a river. When the stored water is released, it passes through and rotates turbines, which spin generators to produce electricity. Water stored in a reservoir can be accessed quickly for use during times when the demand for electricity is high. Other hydropower plants, called "run of the river" projects, do not require dams. Instead, a portion of a river’s water is diverted into a canal or pipe to spin turbines. As with many of the other renewable energy technologies, the design, construction, and maintenance of hydropower plants require electrical and mechanical engineers, technicians, and skilled workers. If the hydropower project also involves managing the reservoir and the surrounding land, the developer will also hire recreation planners and resource managers. In addition, licensing laws now require current or prospective hydropower plant developers to assess the environmental effects of their operation. Thus, the hydropower industry now also employs environmental scientists (biologists, hydrologists, ecologists, and wildlife habitat specialists, for example) to assess environmental impacts and address environmental remediation. Environmental scientists, as well as engineers, also participate in R&D efforts through private companies, national laboratories, and universities. |
Make the right choice
Q. I am appearing in Class X board. I am unable to decide between medical and engineering streams. Please suggest me some career options for both the streams.
— Sahil Arora A. As with most young people your age, you are confused and perhaps not clear what exactly you want to do, which is perfectly normal. Making a career decision is not the easiest thing in the world. Both medicine and engineering are top-of-the-line options, which leads me to believe that you are keen on pursuing a professional career. It’s, therefore, essential to go by your interests, aptitude and inclination rather than conforming to outdated beliefs and assumptions or what is considered “Hot” or “Happening”. This is certainly not to belittle certain practical considerations. For instance, if you are keen on medicine but don’t savour the prospect of being on call round-the-clock, you may opt for fields like dentistry, ophthalmology or dermatology, plastic surgery etc, which pose fewer emergencies. Nonetheless, be prepared to put in a good 10-12 years of medical study before you can think of earning. If you’re interested in engineering, keep in mind that there are many different fields of engineering, most of which require an aptitude for higher mathematics. And by the way, should you want the best of both medicine and technology – you could opt for biomedical engineering/science or biotechnology among others. Also, do make a realistic SWOT analysis to assess your strengths and weakness. This will make for greater clarity and help you prioritise your goals. For starters, short-list options on the strength of the match between you and the requirements of a career or profession. When the two factors are well-matched, you would both be automatically successful in such a profession and also have a career which you enjoy. From such a shortlist, you can then make a final choice based on the scope and financial rewards a particular career offers. There are aptitude tests that you can take to help you find out the occupations that you’d do best in. Lastly, do talk to people who are already working in these fields. It really helps; moreover you’ll find that most folks will enjoy telling you about their jobs.
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SAP’s the way to go
Q. I am a MCA graduate from Panjab University, Chandigarh. I am interested in pursuing SAP course. Kindly guide me about the institutes offering this course and the approximate fees and the possible job opportunities.
— Neha Jain A. SAP is the world’s leading provider of ERP applications (business software solutions). Today, thousands of businesses and industries globally run installations of SAP (System Application and Products) software to improve and manage customer relationship, stay competitive and enhance partner collaboration and create efficiencies across their supply chains and business operations in more than 25 industry segments, including high tech, retail, public sector and financial services, healthcare and even government. In India SAP has the largest market share. And growing. You can obtain SAP certifications at three levels of expertise — Associate, Professional. and Master’s level, which is the ultimate. Siemens Info Systems Ltd is one of the largest global SAP implementers as well as the largest SAP Consulting & Authorised Education Partner.(www.sap.com/asia/education). Genovate Solutions, has the largest network of SAP authorised training centres across Asia Pac with centres in several cities in India. CDAC (D/o IT, M/o Communications & IT), Anusandhan Bhawan, C56/1, Institutional Area, Sector 62, Noida 201307 (www.cdacnoida.com) offers industry/project oriented full-time Modular ERP Programmes Egyan, SCO 216, level II, Sector 36-D, Chandigarh 160036 (SAP ATC) Sunmarrs, Hyderabad is another good institute for learning SAP Basis Administration.
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Mother of all technologies
Q. What exactly is industrial mathematics? Where do these mathematicians work?
— Gopesh Ojha A. Industrial mathematics has become a buzzword in the US, Europe and Japan in the last decade. In fact, this branch of applied mathematics is not only the queen of all sciences but is also the mother of all technologies. Scientific computing, semiconductor devices, image processing, electro-optics, very large integrated systems (VLIS), and sensor technology are some of the emerging areas of high technology. As classical geometry is “inadequate” to understand the intricacies of nature, a new geometry called Fractal Geometry has been invented by a mathematician. It has proved useful in studying and picturing mountains, skies, rainfall, coastal lines, artificial scenery, and designs and patterns through computers. This technique has revolutionised the film industry, image processing and data compression techniques, leading to the compact disc. In recent years, as new technologies have been developed, the demand for professionals capable of modelling and simulating these emerging technologies has dramatically increased. Modelling, analysis and computations performed by industrial mathematicians working with other professionals can provide technical advantages and cost savings, important for a company’s competitive edge. Industry mathematicians usually work in multidisciplinary teams and cover a wide range of industrial areas from aircraft and automobile design to software development, computer security and weather modelling and prediction. They are mainly hired by the computer software industry, electronics and computer manufacturers, aerospace and transportation equipment manufacturers, chemical/pharmaceutical manufacturers, communication service providers, engineering research organisations, consulting firms and some government agencies. For a wealth of info on this subject, check website of the Society for Industrial and Applied Mathematics (SIAM), especially their pages on Thinking of a Career in Applied Mathematics?
www.siam.org/careers/thinking.php
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Hospitable terrain
Q. I am a final-year student of hotel management. I like the hospitality sector but my classmates feel that there is no point hanging on to hospitality as other industries, particularly BPOs, offer much better pay packages?
— Loveena Vij A. Most students and professionals these days are being lured to BPOs, multiplexes and retail because of the handsome packages being offered. The grass does seem much greener there. However, here’s a word of caution for those looking to give hospitality a cold shoulder because of the fear of being underpaid and the lure of higher pay packets and extravagant perks. Although lucrative offers may be thrown at you from other industries, do consider whether it is worth chasing the moolah at the cost of your career, personality development and an exciting and challenging work environment that hospitality can open for you? As many as 1500-2000 new hotel rooms are being added in Delhi and its suburbs alone to cater to the Commonwealth Games next year. Already 27 new hotel projects are under way, so you can just estimate the demand in this sector. You have just completed a full-fledged course in hospitality, which obviously means that it appealed to you over all other options, then why give it up now even before you’ve given this industry a fair trial? For money alone? Many high paying jobs can be dreadfully monotonous and demoralising. They in no way contribute to developing your unique skills, or to using your talents and improving your personality. I’m not disparaging BPO jobs, many of which can be pretty challenging as they move into value-added services. While there’s no end to the money one can earn, it is by no means the sole yardstick of your true worth. It’s better to pursue your field of interest, which offers you the opportunity to grow and develop as an individual. This is the key to success in your personal and professional life. Everything else will fall into place — money, family, job and personal contentment.
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In the realm of research
Clinical Research is the next big career. The clinical research market worldwide is worth over $52 billion. There are more then 2, 50,000 positions vacant globally and the salaries
India is the second largest pharmaceutical market in Asia growing at more than 9 per cent annually. According to Mckinsey report there are more than 50,000 jobs in clinical research in India. With the influx of multinationals setting up research facilities here, the industry is poised to grow exponentially. According to Dr. Dharinder Tayal, Director, Anovus Institute of Clinical Research (AICR), “India’s strength in this field rests on the availability of large patient populations, highly educated talent, high percentage of English-speaking population, wide spectrum of disease, lower cost of operations and favorable economic and IP environment.” Clinical research market in India is growing at a compounded annual growth rate (CAGR) of 60 per cent. The market size at present from the clinical research organisation business is $60 million. The same is projected to grow to $1.5 billion by 2010, by which the industry will spend $300 million plus on clinical trials in India, as per Goldman Sachs and Mckinsey report. The same will be valued between $500 million and $1 billion by 2010.
What is Clinical Research? Clinical research is applied research. In simple terms, it involves testing of new medication on human population. The purpose is to evaluate whether the medication is safe and effective when it is used for the disease under question. Clinical trials that are an indispensable part of Clinical Research, tell us what is the carried out in a phased manner. As clinical trial involves research on human subjects, it has to be performed to the highest standards. Ensuring that the clinical trials are performed in accordance with national guidelines is, therefore, pertinent. Trials cannot be conducted without the approval of regulatory bodies like Drug Controller General of India. After the completion of research, the regulatory agency reviews the data obtained from thousands of patients. If the medication proves to be effective without much of side effects, permission is granted to market the product. Generation of quality data (observations on the patients like blood pressure) by the physicians (investigators) is the fundamental and crucial component of clinical research. Each physicians carries out the actual clinical trial at his hospital and the sponsor team coordinates the trials. Preparing clinical trial documents (the protocol, case report) and the supply of tested drugs at desired time are some of the important responsibilities of the sponsor. According to Dr Girish Sahni, Director, Institute of Microbial Technology (IMTECH) “there is a dire need for clinical research in the country today to combat various diseases through new drugs that are not only effective but more significantly, affordable for common man. The formation of a professional forum for initiating interface between academia, researchers and the industry, therefore, assumes importance”.
Training Training in clinical research, to a great extent, helps to build up most of these qualities and develop an insight into the field. However, it always depends upon the quality and the methodology of training and trainer’s experience in the field. A good training will ensure that at the end of the course, the student is able to take up responsibilities in the industry without further training by the employer where he would be eventually placed. Hence, it is not only sufficient to have an inclination to do a course in clinical research but also to choose the right institution. Aspiring students should collect information through Internet, past students and interaction with the teaching faculty. To conclude, a career in clinical research is definitely challenging and satisfying. However success is ensured only when one chooses the right course from the right institution after a thorough homework. There are various growth opportunities along the way for those willing to learn. For those interested in serious research work, a PhD. is the ideal solution. There are postgraduate degrees and diploma courses offered by various colleges. Specialisation in branches of pharmacy, life sciences and biochemistry will also be useful. Eligibility A Bachelor’s degree in science is a must to enter this field. Ideally the industry is looking for science graduates from pharmacy, medicine, life sciences and bioscience. Anyone who fulfils these criteria can join the industry. Pay packet Freshers can expect a pay packet of around three lakh rupees or more per annum. If you have a Master’s degree backing your qualifications, then the amount is almost double. Clinical research is an industry where experience counts, thus the longer you are in this field, the higher salary you can expect.
Institute watch
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Anovus Institute of Clinical Research, Chandigarh (Affiliated to Punjab Technical University) M.Sc. in Clinical Research (Two Years) One Year Advance Diploma in Clinical Research www.anovus.net
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Institute of Clinical Research, New Delhi M.Sc. in Clinical Research (Two Years) Post Graduate Diploma in Clinical Trial Management (One Year) www.icriindia.org
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RNIS College of Clinical Research and Allied Sciences Advance Post Graduate Diploma in Clinical Research www.rnisclinical.org
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Aceas Clinical Research, Ahemdabad. Affiliated to Institute of Clinical Research Buckinghamshire , UK Post Graduate Diploma in Clinical Research (One Year) www.aceas.co.in
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Clinical Research Education & Management Academy, New Delhi (Affiliated to Dibrugarh State University, Assam ) Advanced Post Graduate Diploma in Clinical Research & Management (Two Year ) www.cremaindia.org
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Jobs galore
Employment of economists is concentrated in large cities. Some work abroad for companies with major international operations, for Government agencies, and for international organisations, such as the World Bank, International Monetary Fund, and United Nations.
Economists are concerned with practical applications of economic policy and work for a variety of organisations. Economists working for corporations are involved primarily in micro economic issues, such as forecasting consumer demand and sales of the firm’s products. Some analyse their competitors’ growth and market share and advise their company on how to handle the competition. Others monitor legislation passed by the government, such as environmental and worker safety regulations, and assess its impact on their business. Corporations with many international branches or subsidiaries might employ economists to monitor the economic situations in countries where they do business or to provide a risk assessment of a country into which the company might expand. To work in economic consulting or research firms, economists may perform the same tasks as economists working for corporations. Another large employer of economists is the Government. Economists in the Central Government and state governments administer most of the surveys and collect economic data. The two important data collection agencies of the Central Government namely National Sample Survey Organization (NSSO) and Central Statistical Organization (CSO) provide ample employment opportunities from time to time. A Master's or Ph.D. degree in economics is required for many jobs in private-sector and for advancement to more responsible positions. Whether working in government, industry, research organizations, or consulting firms, economists with a bachelor's degree usually qualify for most entry-level positions as a research assistant, administrative or management trainees or for various sales jobs. A master's degree usually is required to qualify for more responsible research and administrative positions. Many business, research and consulting firms and government agencies seek individuals who have strong computer and quantitative skills and can perform complex research. A Ph.D. is necessary for top economist positions in many organizations. Many corporation and government executives are required to have a strong background in economics. In addition to the previously mentioned jobs, economists hold faculty positions in colleges and universities. As firms increasingly employ workers to perform more specialized tasks, the best opportunities for individuals with background in economics are expected to be in positions that have titles other than economist. Some examples of job titles often held by those with an economics background are financial analyst, market analyst, public policy consultant, researcher or research assistant, and econometrician. A Master's or Ph.D. degree, along with a strong background in economic theory, mathematics, statistics, and econometrics, provides the basis for acquiring any specialty within the economics field. Economists who are skilled in quantitative techniques and their application to economic modeling and forecasting, and having good communications skills can get better job opportunities. Graduates with bachelor's degrees can find jobs in industry and business as management or sales trainees or as administrative assistants. We only need to learn to understand, analyze and interpret the economics of any thing and everything on earth.
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Tame a tough boss
Tact, patience and confidence are sure ways to deal with an angry boss, writes D.C. Sharma Irritable, hot tempered, and moody bosses are troublesome. Their unpredictable and sometimes tyrannical behaviour substantially hampers the ability and competence of good workers. But there is no occasion to lose heart as certain strategies when put into action can help a lot in facing stubborn, aggressive and short tempered bosses. One gets cooperation even from a tough boss, then! Resist retaliation
The situation at the workplace becomes tense when an angry boss hurls insulting words on efficient workers. The best way to deal with such a barrage of harsh words is not to give in to the impulse to retaliate. Thus instead of saying “You’re wrong, boss”, the reply should be, “May be you don’t like how I do this Sir, so please tell me more about what’s on your mind.” Psychological studies have proved that even an angry boss is pacified when he learns that his opinion on the matter is being appreciated. Who on earth doesn’t like to hear how his worth is appreciated?
Ask for help
Organisational psychology reveals that people who are afraid to ask for help when in need, actually reject themselves in advance. “Asking is the world’s most powerful and neglected secret of success and happiness,” reveals PercyRoss, the celebrated self-made multimillionaire. No organisation can make progress if its workers are hesitant to ask for and offer help to their boss. This is a sure, yet unhealthy sign of the lack of coordination. Only proper coordination enables workers to face even a tough boss.
Body language
Studies have proved how body language plays a great role even in facing a tough boss. A worker who slumps submissively with rounded shoulders and eyes turned down, and slips away from an angry boss is sure to lose his position at the workplace sooner or later. Only the one who neither retaliates nor slips away, but faces an upset boss with confidence, can win the field. However, if you find it difficult to look into those blood-shot eyes, you can easily gaze at the point of the boss’ chin or forehead or nose. More than 90 per cent similar effects are achieved by employing this method. The boss realises that the worker in question is a person of value and worth. During my college days, our professor of psychology would tell us how to save our skin from an angry teacher, if any. He would advise us to imagine a revolving spotlight shining brightly above the head of the angry teacher. Constant practice had enabled us to see how the angry person would listen to us attentively instead of bursting upon us. In order to be productive, just pacify your angry boss sincerely and bring him back on the right track. Having frequent conversations with your boss can also avoid unpleasant situations. In such informal conversations, call your boss by name. One’s name, when uttered with due respect, is most pleasing. Some like to be addressed with the first name, while others love to hear their surname spoken in a pleasing tone. Experience will show you which part of his name your boss likes to hear. Every utterance of that part of his name will make him form a rapport with you. He will appreciate your worth and efficiency and when such cordial understanding exists between a worker and a boss then the chances of volatile situations diminish considerably.
Positive programming
Beliefs make or mar a worker and these beliefs depend upon our subconscious programming. If a worker is programmed to be confident enough to face even a tough boss, then there will not be any problem. However, if a worker has negative programming then he fears even the shadow of his boss. Such conditioning can be replaced with a positive one. The worker should see his image in the mirror each morning on waking up, and each night while going to bed, and rehearse talking to his boss with confidence. He should listen to his own confident and convincing voice. This will not only build the worker’s confidence, but would also change the behaviour of his boss towards him. “You will see it when you believe it,” says popular self-improvement writer Dr Wayne W. dyer. Really, faith and conviction can work miracles.
The tact track
Bosses often shout when they themselves are in the wrong and inefficient workers often become a target of their anger. The boss uses such an angry outburst just to cover up his own weak points. But an efficient worker helps his boss save face even in such a situation. He tactfully wins his confidence. He cushions his boss’ ego with a face-saving strategy. He just coddles his boss avoiding his angry retorts and vindictive behaviour. An efficient subordinate smells a difficult situation well in advance. A good worker analyses the situation and makes sure that he can face it properly. His planning becomes all the more important when the boss himself doesn’t have any set norms of working. By getting a sufficient stock of facts and formulae, such a worker takes the right course of action to make his boss realise how much he himself needs to mend. But beware! Never doubt your boss’ good intentions. Listen to his justifications patiently. After all, he can’t be a complete villain. He has reached that position by virtue of some good qualities and always remember that an amicable solution is always the best one.
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Happiness @ work
Without bending your back, don’t expect things to change for the better.
Not just by wishful thinking, but by hard labour are tasks accomplished, Just because a lion dreams it, a deer doesn't enter its mouth, say the Shastras. By hard work, many heroes have turned the tide. A persistent spider inspired a broken King Bruce to ‘fight until victory’. So intense was robber Ratnakar’s meditation that ants made an anthill over him. He got the name ‘Valmiki’ from the anthill and became the world’s first poet. How can Agnes start a congregation if she cannot even light a candle properly, Archbishop Ferdinand Periers had asked. By the time she died, Agnes aka Mother Teresa’s Missionaries of Charity was operating nearly 2,300 institutions worldwide. Finding no reason to live, Kisan Baburao Hazare was contemplating suicide when he visited Ralegan Siddhi, a barren village in Maharashtra. He found his calling, slogged for 15 years, turned the desert into a self-sufficient Eden and earned the title ‘Annasaheb’ (elder brother). — Sai R. Vaidyanathan This column appears weekly. The writer can be contacted at
svaidyanathan@tribunemail.com
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