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Dark side of the jobs boom in India

Smita Rajan (name changed), an MBA from one of the lesser-known B-schools in Mumbai, was glad when she got a job at one of India's leading private sector banks in its marketing department. The salary was alright for a beginner and the career prospects sounded rosy enough.

A year later, Smita's father has managed a Rs 5 lakh personal loan -- the amount Smita is bound to pay her employer if she quits before two years.  "She signed a bond with her employer. But I would rather pay the high EMIs than see my daughter go through this daily torture," he says.

Here's his version of what Smita has to go through at her workplace: the 24-year old MBA graduate has to maintain a 9 am to 10 pm routine everyday; her job profile requires her to do door-to-door canvassing for opening accounts; and the monthly variable component of her salary has been cut by Rs 8,500 at least thrice for failure to meet the targets. "You surely don't need an MBA to do this job. My daughter is a psychological wreck as the bank has destroyed her confidence," Smita's father says. The bank apparently has appointed MBAs even to man the teller machines!

To be sure, Smita isn't alone. There are countless other examples of the uglier side of the much-hyped jobs boom in India.

Debashis Bhowmick (name changed) is an engineering graduate from one of the lower-rung private institutes in Kolkata. He came to Navi Mumbai to join a windmill company which has its headquarters in Europe. The quality of the job, however, was "slightly better than that of a security guard," he says. Bhowmick, who was lucky enough to find another job within four months, says his earlier boss had asked him to prepare a project report on the security system in the company's godowns.

Apparently, the company suspected that a lot of pilferage was happening in one of its godowns. The engineering graduate was asked to station himself in the security office to see the lacunae in the system. One of his observations was that some people left the godown unmanned during lunch time when the security guard went to the canteen to bring food.

Impressed with this finding, the boss then asked him to find out whether this was happening during tea or dinner time also, or whether the security guards went to the toilet often leaving the gate unmanned.  "I didn't do engineering to observe people's tea and toilet habits," Bhowmick wrote in his resignation letter.

Or, take the case of this first class B-Com graduate who works as a service officer in a BPO. The 4 pm to 2 am routine and the mindlessly repetitive task are bad enough leading to a host of health problems; what's worse is that the company has asked him to practice speaking English with a marble placed below his tongue to imitate the American accent better. The attrition rate in the company is as high as 30 to 40 per cent but they are quickly replaced as there are enough English-speaking graduates available for  Rs 12,000-a month job.

Talk to most of these first-class graduates, or MBAs, or engineers from the relatively lesser known institutes, and the common refrain is that companies offer unreachable targets, unrealistic incentive temptations and poor work profile. At a time when everybody is gung-ho about the huge employment boom in India, these examples indicate that many Indian companies are perhaps hiring for the future recklessly without having a clue as to the relationship between qualifications and job profile a fact that prompted Larsen & Toubro Chairman A M Naik to lash out at the IT sector for hijacking engineers when all they required were plain B-Com graduates.

But companies on their part say that a pressure-cooker existence is inevitable in an economy that is growing so fast. And that is true even for students who pass out from the premier institutes.

On the practice of recruiting over-qualified people for jobs that don't require specialised degrees, companies say this is also inevitable in a country where everybody and his uncle is either a first-class graduate or an engineer or an MBA.  But the quality of teaching in most of these second-rung institutes is abysmal and companies often have to pay through their nose to train them. "Even after training, we have no option but to offer these people jobs that are out of sync with their so-called degrees," an HR manager says.

He may have a point. Studies have indicated that only one in four graduates from India's colleges are employable. This means till the time the quality of education improves, the other three will have to remain content with either door-door canvassing for savings accounts, or watching people's tea and toilet habits, or honing up their American accents in graveyard shifts.

 

To Do or not To Do - That is the Question

The 80-20 rule applies to To Do lists as well. 80% of the items collectively contribute only 20% of the results. Those 20% of the items, the real priorities, should be scheduled in your planner as appointments with yourself so get them done. If you’re in doubt about whether something should be scheduled or put on a To Do list, ask yourself, “What would be the consequences of not getting this done?” If the answer is “Very little,” add it to your To Do list.

It’s best to use a planner to house your To Do list, not separate sheets of paper. You could easily misplace a separate sheet of paper. And you might also spend time copying the sheets over as they are diminished to two or three remaining items. There’s also the added advantage of seeing what you did each week since the crossed off items remain intact.

With a weekly To Do list you have next week’s To Do list as well. Each time a new task surfaces, you decide whether it should be done this week, next week or even later, and add it to that page.

Whether you use a week at a glance or a day at a glance planner is a matter of personal preference. I prefer to see how my week is shaping up. I like to be able to instantly spot my plans for the entire week and see what time I have left for additional projects. Robert Hochheiser, in his book Time Management (Barrons,1998) also claims that with day-by-day calendars you would have to turn pages four times to go from the beginning to the end of the week. But for many people that’s not a big deal.

 

11 Ways to Decompress after High Stress

These are some simple and great ways to destress after a tough day or event!

Work really well for me.

  1. Deep breathing. Take a deep breath. Hold it. Now let it out … slowly. Try counting to 10 as you let out your breath. Feel the tension and stress flowing out of you with your breath. Repeat 3-10 times, as necessary.
  2. Self-massage. I like to massage my shoulders, neck, head, lower back. It helps a lot. Even better: get your honey to do it for you! Another great relaxation technique is to tense up and then relax each muscle in your body, one at a time, starting from your toes up to your head.
  3. Take a walk. When I’m in the middle of stress, I like to take a walk around the building. I also do the deep breathing and self-massage mentioned above as I do so. It’s a great way of letting go of tension and allowing yourself to re-focus.
  4. Exercise. This morning, I went to the beach at 5:30 a.m. and went for a swim. It was beautiful at the beach at around sunrise, and the swim was invigorating. Yesterday I went for a bike ride, and the morning before it was a short but refreshing run. Tomorrow I think I’ll do another short run. It really gets the stress out of your system and gives you some quiet time to think when you exercise.
  5. Get outdoors. Even if I didn’t do the swim, just being there at the beach, with my decaf coffee was calming. It’s nice to connect with nature and take in the beauty around you. While you’re there, stretch, yawn, take some deep breaths, and enjoy.
  6. Disconnect. Turn off the phones, turn off the computer, and shut off the outside world for a little while. These things just raise your stress level. Go offline and forget about the online world! You can do it! Except for Karmic Mantra. That’s the only blog you’re allowed to read when you decompress.
  7. Take a day off. That’s what I’m doing today. Don’t tell my boss. I have lots of vacation and sick leave saved up, so it’s not a problem, actually. I’m just going to veg out and allow myself to calm down and center.
  8. Meditate. You don’t need to be trained to have a short, relaxing meditation session. Just sit somewhere quiet, close your eyes, relax, and focus on your breathing. Try to concentrate on it coming into your body, and then going out. When other things pop into your head (they will, inevitably), just acknowledge them (don’t try to force them out) and allow them to leave, and then focus again on your breathing. Do this for as long as you can, and then take a couple of cleansing breaths, and get up a new person.
  9. Read. I like to throw myself on the couch with a good book. Well, not necessarily a good book — a page-turner. Something that will engross me completely, take my mind off everything else. John Grisham works well for me, as does William Gibson. And Terry Pratchett. Or Ann Patchett, for that matter. And Stephen King. Just get lost in their world.
  10. Love. I like to spend time with my kids or my wife. Just snuggle with them, focus on them, forget about the world. They are all that’s important, and sometimes I need that reminder.
  11. Take a nap. One of my favorites. Just take a 30-minute nap, and you’re re-set! A nap is like a restart button for life.

 

How to Stop Procrastinating

Procrastination can lead to many problems — tests failed, weight gained, relationships weakened.

But you can change your ways.

Procrastination is the art of keeping up with yesterday. ~Don Marquis

Here are some tips and steps to get you going!

Steps

  • Look at the effects of procrastination versus not procrastinating. What rewards lie ahead if you get it done? What are the effects if you continue to put it off? Which situation has better effects? Chances are, you will benefit more in the long term from facing the task head on.
    • Count how much time you spend on activities procrastinating. You may be shocked by the amount of time wasted simply watching TV.
  • Set reasonable goals. Plan your goals carefully, allowing enough time to complete them.
  • Break the task down into smaller parts. How can you approach it step by step? If you can concentrate on achieving one goal at a time, the task may become less of a burden.
  • Get started whether you “feel” like it or not. Going from doing nothing to doing something is often the hardest part of overcoming procrastination. Once you start, it will be easier to continue.
  • Ask for help. You don’t always have to do it alone.
  • Don’t expect perfection. No one is perfect. It’s better to try your best than to do nothing at all.
  • Reward yourself. The reward that lies at the end of a long road to a goal may be great, but while you’re on the way, it may not always be enough to motivate you. Remind yourself-with a break, a movie, some kind of treat you like-that you are making successful progress.
  • Don’t let yourself be distracted - by taking control and saying “no” to picking up the guitar, playing a DVD or texting your friends, you build confidence in your ability.
  • Other time traps to avoid: saying yes when you don’t have the time, studying when you’re tired or in a distracting location, not thinking ahead, not curbing your social time, and finally, taking on too many tasks and projects.

Tips

  • You may want to take a course in time management.
  • Several books have been written on procrastination. Here are the titles: “Procrastination: Why You Do It, What to Do About It” by Jane B. Burka, Lenora M., Ph.D. Yuen, “The Now Habit: A Strategic Program for Overcoming Procrastination and Enjoying Guilt-Free Play” by Neil Fiore and for students, “Beat Procrastination and Make the Grade : A Life-Saving Guide for Students” by Linda Sapadin, Jack Maguire. These are highly recommended.
  • Of course, not everyone enjoys reading - a very good audio CD/cassette is, “Make Your Mind Work for You : New Mind Power Techniques to Improve Memory, Beat Procrastination and More” by Joan Minninger.
  • If you hate to read and begin to procrastinate think of it this way. If you have to read a 276 page book divide it into the amount of time you have. If you have about 2 weeks, reading about 21 pages a day is much less overwhelming.

 

Tips for Interview and Job search

Being prepared is half the battle.
If you are one of those executive types unhappy at your present post
and embarking on a New Year's resolution to find a new one, here's a
helping hand. The job interview is considered to be the most
critical aspect of every expedition that brings you face-to- face
with the future boss. One must prepare for it with the same tenacity
and quickness as one does for a fencing tournament or a chess
match.

1. Tell me about yourself.
Since this is often the opening question in an interview, be
extracareful that you don't run off at the mouth. Keep your answer
to a minute or two at most. Cover four topics: early years,
education, work history, and recent career experience. Emphasize
this last subject. Remember that this is likely to be a warm-up
question. Don't waste your best points on it.

2. What do you know about our organization?
You should be able to discuss products or services, revenues,
reputation, image, goals, problems, management style, people,
history and philosophy. But don't act as if you know everything
about the place. Let your answer show that you have taken the time
to do some research, but don't overwhelm the interviewer, and make
it clear that you wish to learn more.

You might start your answer in this manner: "In my job search, I've
investigated a number of companies.

Yours is one of the few that interests me, for these reasons..."

Give your answer a positive tone. Don't say, "Well, everyone tells
me that you're in all sorts of trouble, and that's why I'm here",
even if that is why you're there.

3. Why do you want to work for us?
The deadliest answer you can give is "Because I like people." What
else would you like-animals?

Here, and throughout the interview, a good answer comes from having
done your homework so that you can speak in terms of the company's
needs. You might say that your research has shown that the company
is doing things you would like to be involved with, and that it's
doing them in ways that greatly interest you. For example, if the
organization is known for strong management, your answer should
mention that fact and show that you would like to be a part of that
team. If the company places a great deal of emphasis on research and
development, emphasize the fact that you want to create new things
and that you know this is a place in which such activity is
encouraged. If the organization stresses financial controls, your
answer should mention a reverence for numbers.

If you feel that you have to concoct an answer to this question -
if, for example, the company stresses research, and you feel that
you should mention it even though it really doesn't interest you-
then you probably should not be taking that interview, because you
probably shouldn't be considering a job with that organization.

Your homework should include learning enough about the company to
avoid approaching places where you wouldn't be able -or wouldn't
want- to function. Since most of us are poor liars, it's difficult
to con anyone in an interview. But even if you should succeed at it,
your prize is a job you don't really want.

4. What can you do for us that someone else can't?
Here you have every right, and perhaps an obligation, to toot your
own horn and be a bit egotistical. Talk about your record of getting
things done, and mention specifics from your resume or list of
career accomplishments. Say that your skills and interests, combined
with this history of getting results, make you valuable. Mention
your ability to set priorities, identify problems, and use your
experience and energy to solve them.

5. What do you find most attractive about this position?
What seems least attractive about it?

List three or four attractive factors of the job, and mention a
single, minor, unattractive item.

6. Why should we hire you?
Create your answer by thinking in terms of your ability, your
experience, and your energy. (Seequestion 4.)

7. What do you look for in a job?
Keep your answer oriented to opportunities at this organization.
Talk about your desire to perform and be recognized for your
contributions. Make your answer oriented toward opportunity rather
than personal security.

8. Please give me your defintion of [the position for which you
are being interviewed].
Keep your answer brief and taskoriented. Think in in terms of
responsibilities and accountability. Make sure that you really do
understand what the position involves before you attempt an answer.
If you are not certain. ask the interviewer; he or she may answer
the question for you.

9. How long would it take you to make a meaningful contribution
to our firm?
Be realistic. Say that, while you would expect to meet pressing
demands and pull your own weight from the first day, it might take
six months to a year before you could expect to know the
organization and its needs well enough to make a major contribution.

10. How long would you stay with us?
Say that you are interested in a career with the organization, but
admit that you would have to continue to feel challenged to remain
with any organization. Think in terms of, "As long as we both feel
achievement-oriented."

11. Your resume suggests that you may be over-qualified or too
experienced for this position. What's Your opinion?
Emphasize your interest in establishing a long-term association with
the organization, and say that you assume that if you perform well
in his job, new opportunities will open up for you. Mention that a
strong company needs a strong staff. Observe that experienced
executives are always at a premium. Suggest that since you are so
wellqualified, the employer will get a fast return on his
investment. Say that a growing, energetic company can never have too
much talent.

12. What is your management style?
You should know enough about the company's style to know that your
management style will complement it. Possible styles include: task
oriented (I'll enjoy problem-solving identifying what's wrong,
choosing a solution and implementing it"), results-oriented ("Every
management decision I make is determined by how it will affect the
bottom line"), or even paternalistic ("I'm committed to taking care
of my subordinates and pointing them in the right direction").

A participative style is currently quite popular: an open-door
method of managing in which you get things done by motivating people
and delegating responsibility.

As you consider this question, think about whether your style will
let you work hatppily and effectively within the organization.

13. Are you a good manager? Can you give me some examples? Do
you feel that you have top managerial potential?
Keep your answer achievementand ask-oriented. Rely on examples from
your career to buttress your argument. Stress your experience and
your energy.

14. What do you look for when You hire people?
Think in terms of skills. initiative, and the adaptability to be
able to work comfortably and effectively with others. Mention that
you like to hire people who appear capable of moving up in the
organization.

15. Have you ever had to fire people? What were the reasons,
and how did you handle the situation?
Admit that the situation was not easy, but say that it worked out
well, both for the company and, you think, for the individual. Show
that, like anyone else, you don't enjoy unpleasant tasks but that
you can resolve them efficiently and -in the case of firing someone-
humanely.

16. What do you think is the most difficult thing about being
a manager or executive?
Mention planning, execution, and cost-control. The most difficult
task is to motivate and manage employess to get something planned
and completed on time and within the budget.

17. What important trends do you see in our industry?
Be prepared with two or three trends that illustrate how well you
understand your industry. You might consider technological
challenges or opportunities, economic conditions, or even regulatory
demands as you collect your thoughts about the direction in which
your business is heading.

18. Why are you leaving (did you leave) your present (last) job?
Be brief, to the point, and as honest as you can without hurting
yourself. Refer back to the planning phase of your job search. where
you considered this topic as you set your reference statements. If
you were laid off in an across-the-board cutback, say so; otherwise,
indicate that the move was your decision, the result of your action.
Do not mention personality conflicts.

The interviewer may spend some time probing you on this issue,
particularly if it is clear that you were terminated. The "We agreed
to disagree" approach may be useful. Remember hat your references
are likely to be checked, so don't concoct a story for an interview.

19. How do you feel about leaving all your benefits to find a
new job?
Mention that you are concerned, naturally, but not panicked. You are
willing to accept some risk to find the right job for yourself.
Don't suggest that security might interest you more than getting the
job done successfully.

20. In your current (last) position, what features do (did)
you like the most? The least?
Be careful and be positive. Describe more features that you liked
than disliked. Don't cite personality problems. If you make your
last job sound terrible, an interviewer may wonder why you remained
there until now.

21. What do you think of your boss?
Be as positive as you can. A potential boss is likely to wonder if
you might talk about him in similar terms at some point in the
future.

22. Why aren't you earning more at your age?
Say that this is one reason that you are conducting this job search.
Don't be defensive.

23. What do you feel this position should pay?
Salary is a delicate topic. We suggest that you defer tying yourself
to a precise figure for as long as you can do so politely. You might
say, "I understand that the range for this job is between Rs.______
and Rs.______. That seems appropriate for the job as I understand
it." You might answer the question with a question: "Perhaps you can
help me on this one. Can you tell me if there is a range for similar
jobs in the organization?"

If you are asked the question during an initial screening interview,
you might say that you feel you need to know more about the
position's responsibilities before you could give a meaningful
answer to that question. Here, too, either by asking the interviewer
or search executive (if one is involved), or in research done as
part of your homework, you can try to find out whether there is a
salary grade attached to the job. If there is, and if you can live
with it, say that the range seems right to you.

If the interviewer continues to probe, you might say, "You know that
I'm making Rs.______ now. Like everyone else, I'd like to improve on
that figure, but my major interest is with the job itself." Remember
that the act of taking a new job does not, in and of itself, make
you worth more money.

If a search firm is involved, your contact there may be able to help
with the salary question. He or she may even be able to run
interference for you. If, for instance, he tells you what the
position pays, and you tell him that you are earning that amount now
and would Like to do a bit better, he might go back to the employer
and propose that you be offered an additional 10%.

If no price range is attached to the job, and the interviewer
continues to press the subject, then you will have to restpond with
a number. You cannot leave the impression that it does not really
matter, that you'll accept whatever is offered. If you've been
making Rs. 3,00,000a year, you can't say that a Rs. 2,00,000 figure
would be fine without sounding as if you've given up on yourself.
(If you are making a radical career change, however, this kind of
disparity may be more reasonable and understandable.)

Don't sell yourself short, but continue to stress the fact that the
job itself is the most important thing in your mind. The interviewer
may be trying to determine just how much you want the job. Don't
leave the impression that money is the only thing that is important
to you. Link questions of salary to the work itself.

But whenever possible, say as little as you can about salary until
you reach the "final" stage of the interview process. At that point,
you know that the company is genuinely interested in you and that it
is likely to be flexible in salary negotiations.

24. What are your long-range goals?
Refer back to the planning phase of your job search. Don't
answer, "I want the job you've advertised." Relate your goals to the
company you are interviewing: 'in a firm like yours, I would like
to..."

25. How successful do you you've been so far?
Say that, all-in-all, you're happy with the way your career has
progressed so far. Given the normal ups and downs of life, you feel
that you've done quite well and have no complaints.

Present a positive and confident picture of yourself, but don't
overstate your case. An answer like, "Everything's wonderful! I
can't think of a time when things were going better! I'm overjoyed!"
is likely to make an interviewer wonder whether you're trying to
fool him . . . or yourself. The most convincing confidence is
usually quiet confidence.

Job Search Tips
How prepared are you for planning and conducting an effective job
search?
Successful job seekers must have both good information and well-
developed job hunting skills.
Three important factors for a successful job search are
An awareness of your goals and skills
An understanding of the labor market, and
A well planned job search campaign.

Experts recommend that you begin an active job search six to nine
months in advance of your target employment date.
You can begin the process by visiting the Career Center early (for
students, nine months to a year before graduation).




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Ten Time Saving Tips to Speed Up Your Job Search
Be Prepared.

Have a telephone answering machine or voice mail system in place and
sign-up for a professional sounding email address. Put your cell
phone number on your resume so you can follow up in a timely manner.

Be More Than Prepared.
Always have an up-to-date resume ready to send - even if you are not
currently looking for work. You never know when an opportunity that
is too good to pass up might come along. Have a supply of good
quality resume paper, envelopes and stamps on hand.

Don't Wait.
If you are laid-off, file for unemployment benefits right away. You
may be able to file online or by phone. Waiting could delay your
benefits check.

Get Help.
Utilize free or inexpensive services that provide career counseling
and job search assistance such as college career offices, state
Department of Labor offices or your local public library.

Create Your Own Templates.
Have email and paper versions of your resume and cover letter ready
to edit. That way you can change the content to match the
requirements of the job you're applying for, but, the contact
information and your opening and closing paragraphs won't need to be
changed.

Use Job Search Engines.
Search the job search engines. Use the sites that search the major
job banks, employer sites and electronic news groups for you.

Jobs by Email.
Let the jobs come to you. Use job search agents to sign up and
receive job listings by email. All the major job sites have search
agents and some web sites specialize in sending announcements.

Use Your Network.
Be cognizant of the fact that many, if not most, job openings aren't
advertised. Tell everyone you know that you are looking for work.
Ask if they can help




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The following list summarizes the most important Boolean rules.
To get the best results from any specific job database, however,
study its Frequently Asked Questions (FAQs) and use its online
tutorial, if one is provided.

Rule #1.
The characteristics (i.e., the individual words, terms or phrases)
that you use to describe your dream job are called "key words" on
the Internet. They are normally entered in all lower case letters
because capitalization makes them cases sensitive. In other words,
if you capitalize a key word, the computer will identify only those
jobs where that word is capitalized. If you use all lower case
letters, the computer will identify every job that contains the
word, whether it is capitalized or not.

Rule #2.
To link two characteristics together, both of which are required in
your dream job, use the Boolean operator AND. Boolean operators are
normally expressed in all capital letters. In the example above, you
might use the following expression to tell the computer what kind of
job you want: $50,000 AND hospitality. This expression tells the
computer that you want it to identify any job in its database that
offers both characteristics. It must pay $50,000, and it must be in
the hospitality industry. If either one of those factors is missing,
you do not want to see the job.

Rule #3.
To tell the computer that the characteristic for which you are
looking is a phrase rather than a single word, use quotation marks.
For example: "facility manager" AND Rs.50,000 AND hospitality.

Rule #4.
To link two characteristics together, either one of which is
acceptable in your dream job, use the Boolean operator OR. For
example, Milwaukee OR "Green Bay". Note that using capital letters
with city or state names is acceptable as they are seldom expressed
any other way.

Rule #5.
To link two characteristics together when they are part of a longer
set of characteristics, use parentheses. For example, "facility
manager" AND RS.50,000 AND hospitality AND (Milwaukee OR "Green
Bay").

Rule #6.
To account for the fact that different people use different terms to
express the same idea, always include any synonyms of your
characteristics and, wherever possible, use a Boolean operator
called a wildcard.




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The 7 Bad Habits of Ineffective Job Seekers
Habits can be good for you. As Stephen Covey pointed out in his
landmark book, The 7 Habits of Highly Effective People, the right
behavior patterns can propel you to great success. Unfortunately,
however, there's also a dark side to habits. Habits can be good, and
they can be bad. And, the wrong behavior patterns can constrain your
opportunities and, ultimately, derail your advancement in the world
of work. What are the bad habits of online job search? With a nod to
Dr. Covey, I think there are seven.

I call them The 7 Bad Habits of Ineffective Job Seekers. They are:

Habit #1: Limiting the time and effort you invest in your job search
Habit #2: Limiting the research you do to plan your search campaign
Habit #3: Limiting your search to a handful of the same job boards
Habit #4: Limiting your application to clicking on the Submit button
Habit #5: Limiting your use of the Internet to reading job postings
Habit #6: Limiting the care you take with your communications
Habit #7: Limiting the preparation you do for employer interactions



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Details on these bad habits :

Habit #1:
Limiting the time and effort you invest in your job search
As the old axiom goes, looking for a job is a full time job. That's
true whether you're conducting your search online or off. A job
search on the Internet, however, exposes you to many potential
distractions that are not found in the real world. There's e-mail
and browsing, chats and discussion forums, online poker and other
games, and a host of other forms of entertainment, exploration and
communication. And the key to job search success is to put them all
aside. You must dramatically limit the time you spend on such
activities and maximize the time you spend using the Internet's job
search resources.

Habit #2:
Limiting the research you do to plan your search campaign
The #1 reason people don't work out when they're hired by an
employer is not that they can't do the job, but that they don't fit
in. In other words, they take the right job with the wrong employer.
Doing careful, thorough research helps you avoid the negative
consequences of such a situation: When you go to work for the wrong
employer, your performance goes down which can, in turn, hurt your
standing in your field; you waste time that could have been spent
searching for your dream opportunity—the right job with the right
employer; and you risk losing that opportunity to someone else who's
active in the job market. To put it another way, inadequate research
virtually guarantees an inadequate work experience. And the
alternative is right at your fingertips. Use the Internet to assess
alternative employer's culture, management, values and performance,
and the focus your search on those organizations where you're likely
to feel comfortable (and do your best work).

Habit #3:
Limiting your search to a handful of the same job boards
There are over 40,000 job boards in operation on the Internet. In
addition to the ones that you've seen advertised, there are
thousands and thousands of others that you may not have heard about.
Collectively, they post over two million new openings every month.
To find your dream job online, therefore, you have to use enough
sites to cover the job market and the right ones to satisfy your
search objective. The formula 2GP + 3N + 2D will ensure you do that.
It involves using two general purpose sites that offer opportunities
in a broad array of professions, industries and locations; three
niche sites, including one that specializes in your career field,
one that specializes in your industry, and one that specializes in
the geographic area where you want to live; and two distinction
sites that focus on one or more of your personal attributes (e.g.,
age, gender, ethnicity, college, military service). I call it the
7:1 Method; use seven of the right sites to find the one right job
for you.

Habit #4:
Limiting your application to clicking on the Submit button
The competition for jobs today, particularly the best positions, is
simply too tough for you to do nothing more than show up online and
submit your resume. If you find your dream job and want to position
yourself for serious consideration by the employer, you have to
practice the "application two-step." Step 1 involves submitting your
credentials exactly as specified by the employer and exactly for
that job. It's a test to see if you can follow instructions and will
take the time to tailor your resume for the position you want. Step
2 involves networking to set yourself apart from the horde of other
applicants who are also likely to submit their resume for that
opening. Your goal is to find a personal or professional contact who
works for the employer and will walk your resume in the door of the
HR Department and lay it on the desk of the recruiter assigned to
fill your dream job.

Habit #5:
Limiting your use of the Internet to reading job postings
As in the real world, recruitment ads posted online reveal only a
portion of the job market. There are many more openings, including
some of the best positions, that aren't advertised. To find this so-
called "hidden job market," you have to make contact and develop
relationships with others online. That's called electronic
networking. It's done by participating in discussion forums and
bulletin boards hosted on the sites of such groups as your
professional association and college alumni organization. To get the
most out of your involvement, practice the Golden Rule of
Networking: Give as good as you get. Share your knowledge and
expertise with others in these online discussions, so that they will
be inclined to share their knowledge of job openings and their
connections in the workforce with you.

Habit #6:
Limiting the care you take with your communications
E-mail is often viewed as an informal communication medium where
typos and slang are not only appropriate, but expected. When you're
looking for a job, however, e-mail is strictly a business
communication. Every message makes an impression on the recruiter
and other representatives of the employer who receive it, and that
impression becomes a part of the data used to evaluate you. To make
the right impression, carefully edit and proofread every message
before you send it off. Don't use stilted or flowery language, but
do be formal and professional in what you write. Take the time and
make the effort to eliminate grammatical errors and misspellings and
ensure that your points are clearly and accurately expressed. Doing
so tells the employer that you take pride in what you do, and that
attribute makes you a stronger candidate.

Habit #7:
Limiting the preparation you do for employer interactions
In today's highly competitive job market, the interview begins in
the first nanosecond of the first contact with an employer. That
means you have to be well prepared and at the top of your game
virtually all of the time. What does that entail? First, make sure
that you thoroughly investigate each employer to which you apply.
Visit its Web-site, use a browser to search for information
published by other sources, and check out the commentary and
research available at such sites as Vault.com and Wetfeet.com. Then,
use the formal and informal educational resources on the Internet to
stay at the state-of-the-art in your field and up-to-the-minute on
your industry. Finally, use the information and insights you've
acquired to hone your ability to articulate the contribution you
will make to the employer, during every interaction you have with
its representatives. All of us get into a rut from time-to-time. We
put ourselves on autopilot and fall back on habits. It's a benign
way to relieve some of the workload and pressure in today's
demanding business environment. When you're looking for a new or
better job, however, those ruts can be harmful; they can lead to
behavior that limits your opportunity and potential success. They
are the 7 bad habits of ineffective job seekers—the ruts in the road
to your dream job.




Top
Review the following list of values and check those most important
to you.
Then rank your top five values in order of priority.

01. Job security

02. Working as part of a team

03. Working independently with little supervision

04. Making a contribution

05. Professional status

06. Mental challenge

07. Pleasant surroundings

08. Challenging, stimulating co-workers

09. Different tasks to accomplish daily

10. Financial rewards

11. Creating something

12. Ability to advance


Preparing Your Resume or Curriculum Vitae
The foundation of your job search should be a good, solid resume
(which may also be called a curriculum vitae or vita). The
curriculum vitae describes in detail one's professional career over
the course of one's life, including both work experiences and
qualifications. It is primarily used when pursuing opportunities in
an academic setting. Although the curriculum vitae and resume have
the same function, the differences between the two are length and
format. In the business world, the standard resume is usually no
more than two pages in length. An effective resume gets your foot in
the door and it may lead to personal interviews.

Your resume should be detailed enough to give employers the
information necessary to assess your qualifications for the job
opening. At the same time, it should be concise. It's essential that
your resume be word processed; if you can't word process it
yourself, hire a word processor. The few dollars you pay to have it
word processed will prove to be one of the best investments you will
make. You may use your resume for several different purposes:

include one with a "blind"' letter of inquiry about a job opening;
send one with a cover letter in response to an advertised position;
attach one to a standard job application; or
take it with you on a job interview.

Six steps are used to conduct an effective job search
1. Begin with Self-Assessment
2. Research and Explore Career Options
3. Choose a Career Field, then Target Employers
4. Prepare Job Search Materials and Develop Job Search Skills
5. Plan and Conduct Job Search Campaign
6. Obtain Offer and Continue to Develop Your Career Action Plan

A Leader Should Know....

(Former President of India APJ Abdul Kalam at Wharton India Economic forum , Philadelphia) 
  
Question: Could you give an example, from your own experience, of how leaders should manage failure? 
  
  
Kalam: Let me tell you about my experience. In 1973 I became the project director of India's satellite launch  
vehicle program,



 commonly called the SLV-3. Our goal was to put India's "Rohini" satellite into orbit by 1980.  
I was given funds and human resources -- but was told clearly that by 1980 we had to launch the satellite into space.  
Thousands of people worked together in scientific and technical teams towards that goal. 
   By 1979 -- I think the month was August -- we thought we were ready. As the project director, I went to the control 
center for the launch. At four minutes before the satellite launch, the computer began to go through the checklist of  
items that needed to be checked. One minute later, the computer program put the launch on hold; the display showed that 
some control components were not in order. My experts -- I had four or five of them with me -- told me not to worry; 
they had done their calculations and there was enough reserve fuel. So I bypassed the computer, switched to manual mode, 
and launched the rocket. In the first stage, everything worked fine. In the second stage, a problem developed. Instead of 
the satellite going into orbit, the whole rocket system plunged into the Bay of Bengal. It was a big failure. 
That day, the chairman of the Indian Space Research Organization, Prof. Satish Dhawan, had called a press conference.  
The launch was at 7:00 am, and the press conference -- where journalists from around the world were present -- was  
at 7:45 am at ISRO's satellite launch range in Sriharikota [in Andhra Pradesh in southern India]. Prof. Dhawan,  
the leader of the organization, conducted the press conference himself. He took responsibility for the failure -- he said  
that the team had worked very hard, but that it needed more technological support. He assured the media that in another  
year, the team would definitely succeed. Now, I was the project director, and it was my failure,



 but instead, he took  
responsibility for the failure as chairman of the organization. 
  
    The next year, in July 1980, we tried again to launch the satellite -- and this time we succeeded. The whole nation was  
jubilant. Again, there was a press conference. Prof. Dhawan called me aside and told me, "You conduct the press conference  
today."



 
  
    I learned a very important lesson that day. When failure occurred, the leader of the organization owned that failure.  
When success came, he gave it to his team. The best management lesson I have learned did not come to me from reading  
a book; it came from that experience.


 

An open letter

An open letter

http://epaper.timesofindia.com/Repository/getimage.dll?path=CAP/2008/04/07/53/Img/Pc0531100.jpg

 ADVICE to  PRINCIPALS, TEACHERS AND COUNSELLORS ON HOW TO MANAGE AND ISSUE EFFECTIVE LETTERS OF RECOMMENDATION TO STUDENTS

PRINCIPALS, teachers and counsellors, in your line of work, you are often requested to give Letters of Recommendation for your students. My sympathies are entirely with you - you are already overburdened with work, have loads of corrections to do, extra-curricular activities to supervise, bureaucratic processes to deal with at your institution, and above all, your own curriculum to complete.
   Writing these letters is, perhaps, the least of your concerns. And more often than not, students ask you at the last minute, and then annoyingly begin to badger you for them within a day or two. A more thankless task in the course of your work cannot be imagined - as I said earlier, my sympathies are entirely with you.

   Another way to look at this, perhaps, is that students are actually paying you an enormous compliment by requesting you to give them these Letters of Recommendation. They are conveying to you that they believe you know them well, and have sound knowledge of their intelligence, work capacity, integrity and other interests. Small comfort, but there you are.


Here are a few tips to assist you:




POINTS TO REMEMBER    


If you are regularly requested to give Letters of Recommendation (LoRs), put up clear guidelines in your office for students
   Specify the amount of time you require and add a few extra days as a margin of safety

   Students should be notified to give extra copies of the blank LoRs with their names and data filled in.You may want to keep your own copy for reference, and in case of an error, valuable time could be wasted in arranging for extra copies. Besides, you shouldn't have to make copies yourself — that is the student's job

   You deal with hundreds of students within the span of a few years --- you cannot be expected to remember the details about each and every student you teach. Ask the student to give you copies of their board exam results, and a short note on prizes, awards, participation in extra curricular activities, voluntary work, and leadership positions held

   Ask students to provide details about the universities and colleges where the LoRs are going. This achieves two objectives — you will be able to give more effective letters, and it will ensure that students do their homework and familiarise themselves with their target institutions

   If the student has taken standardised tests such as the SATs, TOEFL or IELTS, GRE, GMAT or any others, ask them to provide copies of the same.You will have validated proof of their academic potential

   Students are usually asked to write an application essay (also known as a Statement of Purpose, or SOP). Ask the student to give you a copy of his/her SOP if they have already written one --- it gives you valuable pointers about the future plans of the student, which you can comment upon in your LoR


WRITING THE LETTER


Now for the actual letter. It is important to differentiate LoRs from routine 'character certificates' that are issued by schools to all their students.
   North American universities evaluate students on several parameters --- the most common being academic strength as indicated by their scholastic achievements in class exams, class rank and standardised tests. They also look for leadership qualities, abilities outside the classroom such as sports and athletics, debating, theatre, quizzing etc, extra curricular involvement, voluntary and community work, and special interests and abilities.

   It is important to remember that universities and colleges abroad are not completely familiar with the Indian education system. One common misnomer is the name 'public school'.What those abroad do not know is that in India, public schools are, in fact, very 'exclusive' schools, which admit students only after rigorous testing.

   For Canada and the US, public schools are literally that — public schools which charge no tuition fee, and are open to all residents within that particular school district. It is therefore comparatively easy for a bright student to rank in the top 5, 10 or 20 th percentile of his/her class in Canada and the US. It is crucial to include information about how students have already been through several filters before getting where they are.

   Further, the Indian education system uses a formal, measured, rigid system of communication, whereas

the Western world uses a relaxed, informal, spontaneous, but more analytical method of communication. It would be best to adapt to the international norms in this respect. Be generous in your estimation of your students' potential, but don't gush --- that would be going to the other extreme.

It is also important to emphasise that your own school sets standards that are considerably higher than the board exams (which most private schools in India do), and your reasons for doing so. The class exam results may therefore not be a true reflection of the final results the student will receive in the boards. Most foreign universities make admissions decisions in January-February; well before the board results are available.

CUSTOMER CARE IN 2020

Operator : "Thank you for calling Pizza Galaxy Kholi . May I have your..."

Customer: "Hello, can I order.."

Operator : "Can I have your multi purpose card number first, Sir?"

Customer: "It's eh..., hold........ ..on..... .889861356102049 998-45-54610"

Operator : "OK... you're... Mr Singh and you're calling from 43rd Floor, Akask View Apt, Cantt Road, ........
                 Your home number is 4094! 2366, your office 76452302 and your mobile is 0142662566.

                 Which number are you calling from now Sir?"

Customer: "Home! How did you get all my phone numbers?

Operator : "We are connected to the system Sir"

Customer: "May I order your Seafood Pizza..."

Operator : "That's not a good idea Sir"

Customer: "How come?"

Operator : "According to your medical records, you have high blood pressure and even higher cholesterol level Sir"

Customer: "What?... What do you recommend then?"

Operator : "Try our Low Fat Hokkien Mee Pizza. You'll like it"

Customer: "How do you know for sure?"


Operator : "You borrowed a book entitled "Popular Hokkien Dishes" from the National Library last week Sir"

Customer: "OK I give up... Give me three family size ones then, how much will that cost?"

Operator : "That should be enough for your family of 10, Sir. The total is Rs 2249.99"

Customer: "Can I pay by! credit card?"

Operator : "I'm afraid you have to pay us cash, Sir. Your credit card is over the limit and you owe your bank Rs10,720.55 since October last year.

That's not including the late payment charges on your housing loan, Sir."

Customer: "I guess I have to run to the neighbourhood ATM and withdraw some cash before your guy arrives"

Operator : "You can't Sir. Based on the records, you've reached your daily limit on machine withdrawal today"

Customer: "Never mind just send the pizzas, I'll have the cash ready. How long is it gonna take anyway?"

Operator : "About 45 minutes Sir, but if you can't wait you can always come and collect it on your scooter.. ."

Customer: " What!"

Operator : "According to the details in system, you own a Lambretta 1969 Vintage Scooter,...registration number USE 8999..."

Customer: " ????"

Operator : "Is there anything else Sir?"

Customer: "Nothing... by the way... aren't you giving me that 3 free bottles of cola as advertised?"

Operator : "We normally would Sir, but based on your records you're also diabetic.... ... "

Customer:
#$$^%&$@$%^

Operator : "Better watch your language Sir. Remember on 11th Nov 1986 you were convicted for using abusive language on a policeman who stopped you for driving through a one way, in fact you were driving a 1973 Ambassador bearing registeration number UTD 4267.......

Customer:
[Faints]

 

Top 7 reasons why I joined IT ...

Money Making Strategies For Your Website...

Money Making Strategies For Your Website...

Your website can be your own automatic cash machine if you equipped your
website with the right money-making strategies. It is essential to have a good
money-making strategies because without one you simply cannot make the targeted
profits that you always dreamed of.

Without a good money-making strategies, your website will be like a football
team going into a playoff without a winning strategies. Below are 5 of the best
money-making strategies that can be applied to your website:
1)You could offer a free e-book to your web site visitors. Allow them to give
the e-book to their own web site visitors by linking directly to your web site.
The e-book should be related to your target audience. You could also allow them
to upload the e-book to their own web site and give it away. Just include your
link in it.

2)Offer your visitors a free advertisement in your free e-zine if they
subscribe. For example, you could say, "Subscribe to our free e-zine and get a
no-cost e-zine ad! Another example, "Subscribe to our free e-zine and get a free
classified ad!"

3)Offer your visitors a discount on all the products you sell if they subscribe
to your free e-zine. For example, you could say, "Subscribe to our free e-zine
and get 50% off all our products!" Another example, "Subscribe to our free e-zine
and get $8 off our brand new e-book!"

4)You could offer your visitors a free e-book if they subscribe to your free e-zine.
For example, you could say, "Subscribe to our free e-zine and get a our new
e-book for free!" Another example, "Subscribe to our free e-zine and get five
e-books with full give-away rights!"

5)You could offer your visitors a free subscription to your private web site if
they subscribe to your free e-zine. For example, you could say, "Subscribe to
our free e-zine and get free access to our private membership web site!" Another
example, "Subscribe to our free e-zine and get a 3-month trial membership to our
Members Only web site!"

The 5 of the best money-making strategies above is just an example with what you
can do in order to make your website a profitable one. You can also use
different strategies but bear in mind that the main purpose of applying
money-making strategies to your website is for a sole purpose of making your
website an automated cash machine for you and for your family.

MS Word shotcuts

100 keyboard shortcuts

CTRL+C (Copy)

CTRL+X (Cut)

CTRL+V (Paste)

CTRL+Z (Undo)

DELETE (Delete)

SHIFT+DELETE (Delete the selected item permanently without placing the item in the Recycle Bin)

CTRL while dragging an item (Copy the selected item)

CTRL+SHIFT while dragging an item (Create a shortcut to the selected item)

F2 key (Rename the selected item)

CTRL+RIGHT ARROW (Move the insertion point to the beginning of the next word)

CTRL+LEFT ARROW (Move the insertion point to the beginning of the previous word)

CTRL+DOWN ARROW (Move the insertion point to the beginning of the next paragraph)

CTRL+UP ARROW (Move the insertion point to the beginning of the previous paragraph)

CTRL+SHIFT with any of the arrow keys (Highlight a block of text)

SHIFT with any of the arrow keys (Select more than one item in a window or on the
desktop, or select text in a document)

CTRL+A (Select all)

F3 key (Search for a file or a folder)

ALT+ENTER (View the properties for the selected item)

ALT+F4 (Close the active item, or quit the active program)

ALT+ENTER (Display the properties of the selected object)

ALT+SPACEBAR (Open the shortcut menu for the active window)

CTRL+F4 (Close the active document in programs that enable you to have multiple
documents open simultaneously)

ALT+TAB (Switch between the open items)

ALT+ESC (Cycle through items in the order that they had been opened)

F6 key (Cycle through the screen elements in a window or on the desktop)

F4 key (Display the Address bar list in My Computer or Windows Explorer)

SHIFT+F10 (Display the shortcut menu for the selected item)

ALT+SPACEBAR (Display the System menu for the active window)

CTRL+ESC (Display the Start menu)

ALT+Underlined letter in a menu name (Display the corresponding menu)

Underlined letter in a command name on an open menu (Perform the corresponding
command)

F10 key (Activate the menu bar in the active program)

RIGHT ARROW (Open the next menu to the right, or open a submenu)

LEFT ARROW (Open the next menu to the left, or close a submenu)

F5 key (Update the active window)

BACKSPACE (View the folder one level up in My Computer or Windows Explorer)

ESC (Cancel the current task)

SHIFT when you insert a CD-ROM into the CD-ROM drive (Prevent the CD-ROM from
automatically playing)

Dialog Box Keyboard Shortcuts

CTRL+TAB (Move forward through the tabs)

CTRL+SHIFT+TAB (Move backward through the tabs)

TAB (Move forward through the options)

SHIFT+TAB (Move backward through the options)

ALT+Underlined letter (Perform the corresponding command or select the corresponding
option)

ENTER (Perform the command for the active option or button)

SPACEBAR (Select or clear the check box if the active option is a check box)

Arrow keys (Select a button if the active option is a group of option buttons)

F1 key (Display Help)

F4 key (Display the items in the active list)

BACKSPACE (Open a folder one level up if a folder is selected in the Save As or Open dialog box)

micro$oft Natural Keyboard Shortcuts

Windows Logo (Display or hide the Start menu)

Windows Logo+BREAK (Display the System Properties dialog box)

Windows Logo+D (Display the desktop)

Windows Logo+M (Minimize all of the windows)

Windows Logo+SHIFT+M (Restore the minimized windows)

Windows Logo+E (Open My Computer)

Windows Logo+F (Search for a file or a folder)

CTRL+Windows Logo+F (Search for computers)

Windows Logo+F1 (Display Windows Help)

Windows Logo+ L (Lock the keyboard)

Windows Logo+R (Open the Run dialog box)

Windows Logo+U (Open Utility Manager)

Accessibility Keyboard Shortcuts

Right SHIFT for eight seconds (Switch FilterKeys either on or off)

Left ALT+left SHIFT+PRINT SCREEN (Switch High Contrast either on or off)

Left ALT+left SHIFT+NUM LOCK (Switch the MouseKeys either on or off)

SHIFT five times (Switch the StickyKeys either on or off)

NUM LOCK for five seconds (Switch the ToggleKeys either on or off)

Windows Logo +U (Open Utility Manager)

Windows Explorer Keyboard Shortcuts

END (Display the bottom of the active window)

HOME (Display the top of the active window)

NUM LOCK+Asterisk sign (*) (Display all of the subfolders that are under the selected
folder)

NUM LOCK+Plus sign (+) (Display the contents of the selected folder)

NUM LOCK+Minus sign (-) (Collapse the selected folder)

LEFT ARROW (Collapse the current selection if it is expanded, or select the parent folder)

RIGHT ARROW (Display the current selection if it is collapsed, or select the first subfolder)

Shortcut Keys for Character Map

After you double-click a character on the grid of characters, you can move through the
grid by using the keyboard shortcuts:

RIGHT ARROW (Move to the right or to the beginning of the next line)

LEFT ARROW (Move to the left or to the end of the previous line)

UP ARROW (Move up one row)

DOWN ARROW (Move down one row)

PAGE UP (Move up one screen at a time)

PAGE DOWN (Move down one screen at a time)

HOME (Move to the beginning of the line)

END (Move to the end of the line)

CTRL+HOME (Move to the first character)

CTRL+END (Move to the last character)

SPACEBAR (Switch between Enlarged and Normal mode when a character is selected)

micro$oft Management Console (MMC) Main Window Keyboard Shortcuts

CTRL+O (Open a saved console)

CTRL+N (Open a new console)

CTRL+S (Save the open console)

CTRL+M (Add or remove a console item)

CTRL+W (Open a new window)

F5 key (Update the content of all console windows)

ALT+SPACEBAR (Display the MMC window menu)

ALT+F4 (Close the console)

ALT+A (Display the Action menu)

ALT+V (Display the View menu)

ALT+F (Display the File menu)

ALT+O (Display the Favorites menu)

MMC Console Window Keyboard Shortcuts

CTRL+P (Print the current page or active pane)

ALT+Minus sign (-) (Display the window menu for the active console window)

SHIFT+F10 (Display the Action shortcut menu for the selected item)

F1 key (Open the Help topic, if any, for the selected item)

F5 key (Update the content of all console windows)

CTRL+F10 (Maximize the active console window)

CTRL+F5 (Restore the active console window)

ALT+ENTER (Display the Properties dialog box, if any, for the selected item)

F2 key (Rename the selected item)

CTRL+F4 (Close the active console window. When a console has only one console
window, this shortcut closes the console)

Remote Desktop Connection Navigation

CTRL+ALT+END (Open the m*cro$oft Windows NT Security dialog box)

ALT+PAGE UP (Switch between programs from left to right)

ALT+PAGE DOWN (Switch between programs from right to left)

ALT+INSERT (Cycle through the programs in most recently used order)

ALT+HOME (Display the Start menu)

CTRL+ALT+BREAK (Switch the client computer between a window and a full screen)

ALT+DELETE (Display the Windows menu)

CTRL+ALT+Minus sign (-) (Place a snapshot of the active window in the client on the
Terminal server clipboard and provide the same functionality as pressing PRINT SCREEN on a local computer.)
CTRL+ALT+Plus sign (+) (Place a snapshot of the entire client window area on the Terminal server clipboard and provide the same functionality as pressing ALT+PRINT SCREEN on a local computer.)
m*cro$oft Internet Explorer Navigation

CTRL+B (Open the Organize Favorites dialog box)
CTRL+E (Open the Search bar)
CTRL+F (Start the Find utility)
CTRL+H (Open the History bar)
CTRL+I (Open the Favorites bar)
CTRL+L (Open the Open dialog box)
CTRL+N (Start another instance of the browser with the same Web address)
CTRL+O (Open the Open dialog box, the same as CTRL+L)
CTRL+P (Open the Print dialog box)
CTRL+R (Update the current Web page)
CTRL+W (Close the current window)

Student's Corner:- OF DEGREES, LOANS AND MORE...

FINANCING YOUR EDUCATION, IN INDIA OR ABROAD, CAN BE A DAUNTING TASK. HOWEVER, THERE ARE
A NUMBER OF OPTIONS
THAT YOU COULD AVAIL OF TO FUND YOUR EDUCATION.
THE  PROCESS


   Financial resource crunch has often staved off the middle class Indian student from higher education. To add insult to injury, the recent fee hikes announced by premier institutes such as the IIMs and IITs have made quality education a distant dream for deserving youngsters with a monetary disadvantage. “Hitherto, only education abroad was considered out of reach, but spiralling costs of education in India as well have put such thoughts at bay. One is at wit's end when it comes to thinking about garnering funds to send children to medical or engineering schools,” opines Pramod Acharya, a concerned parent of an 18-year-old.
   Even the first step to acquiring admission to professional courses- gathering brochures- is so expensive that one has to spend a sizeable chunk to get a decent number of them. “Competition for admissions to an MBA programme is so tough, that I had to collect brochures for 10 institutes and that cost me a fortune,”declares Aaron Jason, an MBA student.

EDUCATIONAL LOANS

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So how does one go about chasing his or her dream of a good education? Experts believe that getting a loan sanctioned by a bank, whether it is to pursue a degree abroad or from a premier institute in India is not difficult for a meritorious student. Recent RBI regulations have given a thrust to educational loans and the government has proposed to take over the interest burden during the moratorium period for students from families whose income is less than 2.5 lakhs perannum. Hence, the scene looks brighter for students from lower and middle-income groups, who want to pursue higher education. Moreover, banks these days do not insist on a collateral for loans up to rupees four lakhs.
   Public and private sector banks have various education loan schemes for school, graduate and postgraduate studies in India. For example, Bank of Baroda offers Baroda Vidya, a one of its kind finance option for parents of students pursuing school education. These loans are available for studies from nursery to senior secondary school. There are many other banks that provide customised financial solutions to their customers. “All professional, graduate, postgraduate courses and other courses approved by the UGC/ government/AICTE are eligible for loans,”informs V Rangarajan, assistant GM, Rural Banking Department, Indian Bank.
   However, things may vary subject to the lending agency. Take the example of Shravan Kamath, 24, a Mumbai-based professional, who is headed to the US for a degree in communication studies. He has managed to get a loan of about 60% of his actual costs from a public sector bank at 13.5% interest. “I am getting the rest of the amount through the scholarship that I have been awarded from the institute,” declares Kamath. So what does he think about the services of the funding agency? “Although the process is quite easy you have to wait for at least a month for the cheque to get ready,”he answers.
   “Banks prefer giving loans to meritorious students in order to be doubly sure that the applicant will not turn into a defaulter. Thus, stringent checks about both the academic background of the student, and the credibility of the institute that he or she is applying to are undertaken to avoid any trouble. This often causes the inadvertent delay,” informs a bank employee who does not wish to be named.Some students prefer taking loans from public sector banks. Almost all public sector banks offer educational loans up to Rs 20 lakhs for higher studies on foreign shores. However, a suitable third party guarantee is required for loans above rupees four lakhs,and tangible collateral security is required for loans above Rs 15 lakhs.

TAX EXEMPTION

According to M H Balasubramanian, a practicing chartered accountant, “Under section 80E of the Income Tax Act, 100% of the interest paid on loan taken for pursuing higher education by the student will be allowed as deduction from gross total income of the initial assessment year and for seven successive assessment years or until the interest on such loan is paid by the student in full, whichever is earlier.” The exemption is currently available only to the student and not to the parent or coborrower.

Documents required for applying for educational loans    

The completed application form in the
   bank's format
Proof of permanent address Proof of age Passport size photographs Mark sheets of all the examinations passed prior to application Proof of admission scholarship, studentship, etc, in an approved institute Schedule of expenses for the specified course (list given below) Borrower's bank account statement for the last six months Income tax assessment order of the last two years Brief statement of assets and liabilities of the co-borrower (parent or spouse) Proof of income (ie salary slips/ Form 16 etc) of the co-borrower

For overseas educational loans, in addition to the above, one also needs to furnish:

Attested photocopies of visa and passport Letter of admission of the foreign university or accredited institute The prospectus of the institution giving details of fees, hostel charges, etc The statement providing details of assets and liabilities of the parent or co-borrower If the student is applying for loans above rupees four lakhs, details of the guarantor, tangible collateral security, etc, are also required

Expenses generally considered for loan by most banks:

Fees payable to college/ school/ hostel Examination/ library/ laboratory fees Purchase of books/ equipment/ instruments/ uniforms Caution deposit/ building fund/ refundable deposit Travel expenses/ passage money for studies abroad

OTHER WAYS OF FUNDING YOUR EDUCATION

Scholarships are a popular way of funding your own education. In all probability, a student applying for a scholarship will apply to globally reputed institutes. However, not many institutes are open to this idea. Also, it goes without saying that unless you have excellent academic and extra curricular records,getting a Felix,Rhodes or an Inlaks scholarship for your overseas education may just remain a distant dream.
   There are also many philanthropic organisations in India that offer sponsorships for studies in India or abroad. Some organisations that offer educational scholarships include the Indian Oil Corporation, J N Tata Trust, Sahu Jain Trust and K C Mahindra Education Trust, among others.

MERIT:THE DECIDING FACTOR

Educational loans and scholarships are meant for a creamy layer of consistent performers. “Scholarships given to Indian students are very competitive and thus, mediocre performers should choose universityfunded options instead.”
   So, if your academic records are in great shape and it's just the funds that are keeping you from your dream degree, fret not! Educational loans, scholarships, sponsorships - choose your best bet!

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