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Thursday, March 10, 2022

HIGH PAYING CAREER, FUTURE STREAM OF STUDIES, JOB OPPORTUNITIES

 Hunting a career prospect for a child presently reading in VI-XII poses a difficult choice. Two observations appear before the student and the guardian. Either the student is FASCINATED towards some occupation. Or the guardian makes a SERIOUS SELECTION of the career based on his capacity to spend vis a vis the probability of getting a lucrative opportunity.

Fascination comes from seeing a role model earning money, fame and position in the society or within the family or just by being influenced by someone’s impressive lectures. I’ve noticed students holding the preconceived ambition to choose a particular career. The only roadblock is going to be the financial capacity of the guardian. If the guardian can afford it, next comes the question of the landing a long-career with steady earning for at least next twenty years without disruption.

Most of the choice made today may not hold the test of time. That is, over the next three four decades they may not go on without major fundamental changes. Technology is fast changing the careers. What is applicable and lucrative today will not remain so next year. Therefore, one must keep UPGRADING ALWAYS.



 

Upgrading and knowing newer domain knowledge is not always an easy task. As family expands, one becomes more involved and finds lesser time to learn on self effort. Yet, people who manage to enter the middle management may find themselves safe. Based on the current trend , let us discuss a few future career options.

Software Architects: They need extensive technical knowledge of software and code. Becoming proficient in one technology or language only is not enough. This career needs a leadership role, a design role, a customer-facing role, and a technical role. This career requires a broad skill set of technical and interpersonal skills. The job necessitates-

Evaluating the needs of the project to determine which standards or tools are best

Breaking down the entire project into smaller steps (Structuring)

Ensuring the project proceeds on time (There will be time pressure)

Communicating the business’ needs with the team to ensure the right product is created

Checking the code for bugs

Ensuring the product can handle future changes, like security updates

These professionals design software systems. Their prime focus is on a specific type of software solution.

Cloud architects focus on creating systems and solutions to be stored and operated in the cloud.

Systems or application architects create solutions that solve a single problem (Kaizen approach).

Enterprise architects design solutions that solve problems across multiple projects for an entire organization.



 

The salary range can vary from $124,850 to $153,104 depending on efficiency and experience.

While the Bureau of Labor Statistics (BLS) does not track the salary or job outlook for software engineers, the BLS does predict that the software development field will grow @ 21% between 2018 and 2028


Solutions Architect

As a Solutions Architect one is responsible for assessing current computer systems, designing and developing new technology solutions and integrating software and hardware systems to fit the existing enterprise environment in order to address the needs of an organisation. One requires understanding how processes, operating systems and application architectures work together. A solutions architect fulfils an organization’s technology needs. They gather specifications, assess systems, and oversee team projects. To join this job, you need to have advanced technical skills and a deep understanding of business. 

The task and duties of a Solutions Architect involve:

Define the Solution based on clients business needs and present effectively and authoritatively to client stakeholders from both technical and business backgrounds

Write test plans that enforce the acceptance criteria of features and keep them updated

Develop proofs-of-concept to validate solution feasibility

Identify project issues / risks and present alternatives to alleviate or resolve

Document comprehensive client user stories and technical constraints/requirements

Produce detailed component specifications and translate these into detailed designs for implementation.

Lead technical analysis, implementation and deployment

Support the Project Managers in managing scope variations and risks effectively

Performs project assurance to validate that solution architecture aligns with the enterprise architecture;

The average salary for a solutions architect is Rs. 19,27,105 per annum while the base annual salary for freshers is generally around Rs. 5 lakh per annum. With more experience, the annual salary can go as high as Rs. 26 lakh per annum.



 

Commercial Pilot

In India, if one carries a flying experience of 250 hours, one may work as a commercial pilot. The salary of a commercial pilot is high in India. As a fresher, they may earn as much as Rs 1.5 Lakh per month. After gaining experience, their salary goes upto Rs. 5 to 6 Lakh per month on International route.

The initial salary of a private jet pilot is same as a commercial pilot, but after an experience they are paid a remuneration of Rs. 50 lakh per annum.

How many hours do they have to work?

Rarely, a pilot can work 40 hours in a week. They can work late at night, on weekends & even on holidays. If they work as a commercial pilot, 8 hour break is given to them between shifts. Most of the pilots fly between 85 and 100 hours per month. They are limited to a total of 100 hours per month, or 1000 hours in one year.

Commercial Pilot’s Qualification

Candidates should preferably have an undergraduate degree in a Science based subject such as Physics or Mathematics. Additionally, individuals must also have a Commercial Pilot License from a recognized institute and other licenses such as Airline Transport Pilot Licenses. Director General of Civil Aviation has the regulatory authority to help formulate courses to train pilots. Commercial pilots are also required to be physically fit and must pass all the necessary medical examinations.

 

Product Manager

Product management positions recently increased in demand within this decade. A product manager works with the people who design and manage a product. They cater to those who use the product and those who manage the business to ensure that the product meets everyone's needs.

Following are the products to name a few:

Technical products, such as programmes, apps and video games

Financial products, such as credit cards, mortgages and savings accounts

Manufactured products, such as appliances, pharmaceuticals and toys.

Product managers ensure that people building it have access to the latest technologies. They also listen to the users of the product. From customers, they gather information on what new features they want. This information is analysed their feedback and usage data are studied thoroughly. They're also responsible for the life cycle of the product, ensuring that everyone follows the product roadmap and that features are being released on time and they adhere to  high quality.

Responsibilities of a Product Manager:

He takes overall responsibility for the success of the given product. He contributes towards product strategy and vision. He meets regularly with all stakeholders, including product developers, marketing, customer service, finance and company heads. He collects, analyses and responds to the user feedback. He manages one or more budgets gathering and evaluating ideas and opinions. He plans new features and causes changes to a product demonstrating new ideas and features to stakeholders. He creates timelines and roadmaps for developing the product. He attends conferences and events related to a product or sector. He implements or supports marketing campaigns. He is instrumental in creating and overseeing development and project management processes; inspiring and enthusing colleagues and users of the product; learning about users and a product's market; researching competitors and similar products.

Salary of Product Manager

Starting salaries for product managers and junior product managers in the U.K. are usually between £25,000 and £40,000.

Qualification

Aspirants must have an undergraduate degree in Computer Science or a related field. Additionally, having previous experience as a manager is an added bonus. Industry certifications or additional knowledge about certain software may be required.

 

 

Investment Manager

One needs a bachelor’s degree in a field such as financial management or economics to start off.  Alternatively, one may specifically try

Becoming a CFA Charterholder

Becoming a CAIA Charterholder

Earning the FRM designation

Earning a master’s degree in business management or administration.

One must cope with stress and thrive in a competitive work environment to become an investment manager.  One may succeed if one is goal-oriented, enjoys mathematics, is proficient in data analysis and loves to solve problems.

The investment management profession offers some of the highest starting salaries in finance. For the talented and ambitious, there’s also a great deal of chance for that salary to grow. In America, Glassdoor reports that the annual salaries for investment managers range from $51,000 to just under $172,000. 

Industry analysts expect strong employment growth in the investment management field midway into the next decade. According to the BLS, employment in investment management is expected to grow @ 17 percent from 2020 to 2030. With a commerce background, good number crunching ability and a dedicated career will put an investment manager on a good stead.


Disclaimer: Images have been taken from the sites of Google.

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