Tag Archive: Academic degree


When do you see the need of planning finances as an ENGINEER?

As a student, though your parents may make major efforts to pay your college fees, you as a student would have to plan your finances. Right from paying for a paid seat in college vs a free seat to funding your fresher party ticket amount, your parents take care of it. The accepted culture in this aspect is ironical. When parents face this task of spending money, they crib yet pay for their children. Once it is paid somewhere a false ego of parents bloats and the act of paying for such merry gets justified. This note is for parents and students who want to state a difference and are ready to approach finances practically.

  1. Personal finances: Planning personal finances at college seems next to impossible. When we inspect into the money we spend on various things and prepare a log of it, we understand how much mismanagement of money takes place. Especially in urban India, youth are not introduced into the habit of recording expenses. However, inculcating this habit would prove purposeful and useful in your career days.
  2. Further education: The herd trend among engineers in India is that, after their engineering course, students either tend to pursue MS in a foreign country or get into a job. Irrespective of, whether you are following this trend or not, you need to plan your finances for further education which could masters in science, MBA or PhD as you proceed in life.
  3. Your future and Career: Most students who step out as engineers engage is different worlds and turn out to be something fascinating. Youth at this juncture are seeing dreams with eyes wide open. To fulfill these dreams you need to get into the habit of financial planning.
  4. Contingencies may manifest in any form. Sometimes they are harsh to handle. Spare some money aside to handle them boldly.

For your career, at a later time, you will feel that your world has expanded. You need more to survive. You opt to join a job to accomplish many personal aspirations as well as those coined with your family’s aspirations.

  1. Career learning: As you start your career, you would realize that the skill sets acquired at college are not enough for you to excel. With this realizations starts your second round of learning. This includes certification courses, management programmes and other professional courses. This again demands money.
  2. Living: In Indian culture children and parents are together irrespective of age. Now the trend has set in where girls and boys are building their mini forts by staying on their own to pursue their career in different cities. With this you become the owner of your life, which means you will have to pay for your living expenses like food, water, utilities, telephone and so on.
  3. Your family: One fine day you have to take complete responsibility of your family and that is the day you will be proud that this article prepared you to plan your finances. You family will demand your presence as well as your material assets. So watch out and preparing from today.

HAPPY FINANCIAL PLANNING!

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The CEO of today was a college dropout” makes great headlines, but to most of the aspiring entrepreneurs it is very misleading. It is mostly interpreted in two ways:

a) The CEO was considered an idiot at college, made it big later on.

b) The CEO realized building a company is exciting and easier than acquiring a college degree.

Neither of the interpretations are genuine. These statements are only an output of emotional eruptions and frustration in life.

Then how should it be perceived?

Let’s consider a few examples to understand the true perspective of a CEO letting go of a college degree.

Mark Zuckerberg is fits this title the best. Let us understand his background a little more.
File:Mark Zuckerberg at the 37th G8 Summit in Deauville 018 v1.jpgBefore being known as an Internet entrepreneur and inventor of FACEBOOK, he was an achiever at school. He won many competitions in science, mathematics, astronomy, physics and classical studies. He can read and write four languages apart from English. It was only at Harvard he made a choice between a college degree and being the CEO of FACEBOOK. Though he did not get a degree, he earned things more precious that through his career.

Micky Jagtiani of Indian origin, has been a serial entrepreneur is the retail space of leisure, lifestyle and food. He started his journey as a businessman with a family owned business and is now the owner of LANDMARK retail stores. He joined a London accounting school and we know how the story ends. He dropped out of that school. Does that make him dumb, NO. He was smart is buying stake at the right time and marking his brand.

Steve Jobs and Bill Gates are few others to name who have a consistent achiever’s record and a sound background who fill the Famous College Dropout list.

Some resources that will give you more clarity in your perspective.

http://collegedropoutshalloffame.com/

http://en.wikipedia.org/wiki/List_of_college_dropout_billionaires

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Does a COLLEGE DEGREE define me?

Before we elaborate on this topic to understand whether or not a college degree can define a person, let us understand the purpose of both ‘a college‘ and ‘a degree‘.

A college as an educational institution has been established to impart specialized knowledge and skills and to educate the students in a holistically, to excel in a stream of study. A degree is further used to certify the level of skill sets and knowledge a student has acquired during the course duration in a college. The question to be answered here is, ” does the purpose to study in a college and acquire a degree, sustain even today?”.

Candidates who are prospective employees in an industry are evaluated by the degree they carry on paper and not what the person is really capable of. To beat this inefficient evaluation method, recruiters are constantly on an innovation spree trying to realize ‘THE CANDIDATE’ for their company.

Here is how the evolution took place.

  • Employment Exchange
  • Newspaper ads – Interview – Placement
  • Referrals – Certificationscreening – Interview – Placement
  • Online recruitment portal screening – Recruitment drives – Interview – Placement
  • Social media recruitment screening – Interview – Placement
  • Online & Offline Networking – Engaging with potential candidates – Being proactive for screening – Inviting candidates (Interview) – Placement

We can also see a parallel trend evolving which is – catching them young. Recruitment firms are now in a neck tight competition to engage with students and strike a relationship for a long term association. In India this trend is interestingly upside-down. We all know the potential is at the Bottom of the Pyramid but industry and institutions, who are pretty much the organized sector, are  not attempting to reach the potential from bottom. Catch them younger to beat the heat.

Why is this not happening?

This is not happening because the labour force at the bottom are large, huge in magnitude and number. This is impeding efforts to reach and make them a part of the organized sector. What is the way to make it happen? The answer to it is, ” COLLABORATION OF INDUSTRY, GOVERNMENT AND ABODES OF EDUCATION FOR SKILL ENHANCEMENT AND ATTITUDINAL SHIFTS”

When such a congregation is possible with smart execution, India will deliver anything and everything with finesse and perfection and build a new age.

Does a College Degree define me?

The answer to this questions still remains abstract. After engaging with the thoughts above, a person might be influenced to say ” A college degree does not define me.” It definitely can’t define or judge a person, but it should be considered as a valuable and authentic instrument to understand the potential of a candidate. Again, people who use a College Degree as the only instrument to evaluate will encounter fallacies in their judgement. It could be used as one of the parameters to understand the abilities and anticipate potential of a candidate.

For students who are scrambling to get a degree may find this thought process useful.

After long, arduous efforts for 3 or 4 years, you will be at crossroads wondering ,”what’s next?“. You are not alone at this juncture. Look carefully, you will find a lot of your peers here. You have this question occurring constantly here because of limited awareness about the career options you have. Ideally by knowing about these options even before you graduate is helpful.

With ECONOMICS as a major subject in your course, the career opportunities you will stumble upon could be:

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