digimark: October 2019

Sunday, October 20, 2019

Chartered Accountant

Between 100,000 and 150,000 students appear for entrance exams for the Chartered Accountant course every year.

Of these, only about 22 percent make it to the finals and qualify as Chartered Accountant. However, only about two percent of students pass the final exams at the very first attempt.

Studying to work as CA isn’t easy by any means. It involves studying voluminous books that consist of various accounting theories and practices, understanding various kinds of taxes and their rules as well as actual auditing and accounting to become CA.

All CA students have to study and work at the same time, which makes the course even tougher. During the daytime, they work as ‘articles’ with a Chartered Accountancy firm.

And at nights, they spend lots of time studying various subjects required to crack these tough competitive exams. Exams are conducted by the Institute of Chartered Accountants of India (ICAI).

The median income of a CA varies between Rs.500,000 to Rs.750,000 per month. Usually, CA’s are in demand around the year.

However, there’s a peak in demand for their services between March and July every year, since individuals and companies need to file tax returns with the government.

Educational Qualifications: (Minimum) Higher Secondary Certificate with Chartered Accountancy certificate from Institute of Chartered Accountants of India (ICAI).
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Top 10 Highest Paying Jobs in India For You to Make a Career In

The question, which are the highest paying jobs in India, often arise in our minds. We sometimes wonder whether we’re in the wrong profession or career, especially when our income isn’t sufficient to keep pace with skyrocketing prices of everything.

Understandably, there are lots of the highest paying jobs in India.

While most people believe that the highest paying jobs are usually for highly qualified persons, I beg to differ. Personally, I believe it’s our skills that help us get higher salaries rather than mere academic qualifications.

Therefore, I’m presenting this list of the top 10 highest paying jobs in India. Some of these would either amuse or even surprise you.

Top 10 Highest Paying Jobs in India

This list of highest paying jobs in India is based upon various parameters. They include net worth, monthly or annual income and nature of work. So be ready to be pleasantly surprised or amused at these highest paying jobs in India.

1. Spiritual Leader

Working or becoming a spiritual leader is the highest paying jobs in India. Whether you’re a spiritual leader on own merit or work for some spiritual organization, there’s no other profession that can send your net worth skyrocketing.

Acharya Balakrishna, an associate of Yoga guru Baba Ramdev is the richest spiritual leader in India. He’s also the editor of Yog Sandesh Magazine and CEO of Patanjali Ayurved, the fastest growing FMCG firm. He’s also an Ayurveda practitioner.

With an estimated net worth of US$.1.5 billion, Acharya Balakrishna is the richest spiritual leader in India. In fact, most spiritual leaders of India feature in Forbes and Fortune lists as richest persons in this country and the world.

Educational Qualifications: No specific qualifications.

2. Cricket Player

Cricket player is the second highest paying jobs in India. No, I’m not talking about all the extra money that top Indian cricket stars rake in from brand endorsements and advertising. Instead, we’re discussing salaries here.

Just in case you’re unaware, Board for Control of Cricket in India (BCCI), the Indian government regulator for this sport pays players to represent India at various cricket fixtures.

BCCI divided cricket players into four categories: Grade A+, Grade A, Grade B, and Grade-C. Their annual pay is decided on basis on these grades. Currently, three Indian cricketers, Virat Kohli, Rohit Sharma, and Jaspreet Bumrah come under Grade A+.

This means, they get an annual salary or retainer of Rs.70 million per year. Grade A cricketers get Rs.50 million, Grade B gets Rs.30 million while Grade C players get Rs.20 million per year.

Educational Qualifications: No specific qualifications.

3. Ambassador/ High Commissioner of the Republic of India

An Ambassador or High Commission of The Republic of India is the highest diplomatic position of our country and this is also one of the highest paid jobs in India. They are selected for the post by the Minister of External Affairs after considering various criteria.

Usually, an Indian citizen becomes an Ambassador or High Commissioner only after several years of service in the Indian Foreign Service.

An Ambassador or High Commissioner of India is appointed directly by the President of India. And they represent interests of India in a foreign country.

Actually, there’s no difference between an Ambassador and High Commissioner. Both are the same.

Only, an Indian ambassador posted to a Commonwealth country is known as the High Commissioner. Those appointed to the United Nations are known as Permanent Representative.

The Indian government pays US$8,000 per month as basic salary to an Ambassador or High Commissioner of India posted in Class-A countries.

The pay can be slightly lower for other countries, where the cost of living or diplomatic duties are lower. Their salary is decided by the prevailing Pay Commission and other criteria.

In addition to the basic highest salary in India, an Indian Ambassador or High Commissioner also gets several attractive perks.

These can total up to US$12,000 or more, depending on where they’re posted. To become an Ambassador, an Indian Foreign Service officer starts at a lower diplomatic rank and rises through the echelons.

Educational Qualifications: Graduate/ Post Graduate in any stream. Graduate of Indian Administrative Services (IAS) with specialization in Indian Foreign Services (IFS).

4. Management Specialists

Not everyone enjoys the privilege of becoming a Management Specialist.

It requires qualifications in management from top business schools such as the Indian Institute of Management, Jamnalal Bajaj Institute of Management Studies or a foreign degree from Harvard Business School among others.

IIM, JBIM, and Harvard graduates in India are in high demand. They don’t need to find jobs. Instead, the top brass of largest Indian corporations attend their convocation ceremonies and usually make spot offers.

A fresh IIM or JBIM graduate can expect a median monthly salary of Rs.2.3 million. However, to graduate from IIM isn’t a cakewalk.

It requires rigorous studies, practical training, and intense personal discipline. In fact, IIM graduates are also in high demand around the world for their excellent managerial skills.

Educational Qualifications: Graduate from any stream. Post Graduate Program from IIM (any campus) such as Master of Business Administration.

5. Commercial Pilot

India is one of the fastest-growing airline passenger markets in the world that is why this is also one of the highest paid jobs in India. Despite the closure of one private airline in early 2019, the Indian civil aviation industry shows a growth of 7.4 percent between April 2019 and June 2019.

While flag carrier Air India leads in international markets, there are several other airlines that cater to foreign and domestic markets. These include Vistara, Air Asia, IndiGo, SpiceJet and Go Air.

As a result, there’s a huge demand for commercial pilots in India to fly on domestic and international routes. It’s a very prestigious job too.

Commercial pilots in India earn a median salary of Rs.250,000 per month plus perks. Pilots that fly on international routes usually get a median monthly salary of Rs.500,000 per month and perks.

Earlier, most airlines would recruit retired pilots from the Indian Air Force and train them to fly commercial airliners.

Nowadays, any woman or man that graduates with a Student Pilot License can apply for Private Pilot License and start working with an airline.

The airline trains candidates with Student Pilot License and qualifies them to fly as First Officer on commercial flights. During this period, they assist the Flight Commander or Captain with various flight processes.

Upon accumulating a certain number of flying hours and passing tests conducted by the Directorate General of Civil Aviation, they get the Commercial Pilot license.

Educational Qualifications: (Minimum) Higher Secondary Certificate with Commercial Pilot License from DGCA.

How the Employer Benefits

How the employer benefits should come while finishing your answer to this question: “Why should I hire you?” If the employer wasn’t interested in your services, you wouldn’t be there at the interview in the very first place.

The very fact that someone took the efforts to go through your application, include you on the shortlist and invite for an interview clearly indicates that. This means, the employer also has some interest in hiring you. After all, they’re not doing charity.

When you include the above three points, round off your answer about how any- I repeat- any employer would benefit by hiring you. This is a clear indicator of your confidence.

It sends a loud and clear message that by losing you, the company could be inadvertently gifting away your talents to a close competitor.

No interviewer on this planet wants to regret losing someone that could be an asset to the organization. And you need to drive home this message during an interview.

Tips for Answering “Why Should We Hire You

nswering this question depends on two factors: whether you’re a fresher or an experienced job seeker. Therefore, respond to this question using the following tips.

1. Say Why This Job Matters
You’re applying for that job for some reason. Maybe it’s an organization you wish to work for and see excellent career prospects. Or you’re looking at launching your career with this particular organization and gain skills as fresher.

Therefore, speak about the reasons why you’re applying for the job and how working there benefits you. Unless you see personal and professional benefits with the employer, you wouldn’t be applying. And interviewers know that too.

Hence, it’s better, to be honest about the reasons behind your application.

2. Leverage Your Experience or Inexperience
If you have adequate experience for the job, say how it would benefit a new employer. Speak about the value you can add to the organization, should they hire you.

Tell the interviewer that you can start performing well within a very short period, thanks to your expertise and qualifications.

And if you’re a fresher, point out you’re a quick learner and would be able to start delivering the necessary results within a realistic time span.

Speak why training you would prove beneficial to the organization. Use your academic qualifications and mention how they would come handy for the employer in their field of business.

3. Speak About Your Vision
When you speak about a vision for yourself, you’re indirectly speaking about your plans to grow with the company. And this signifies you’re willing to exert extra efforts to enable the organization’s progress.

When you answer ‘Why should we hire you,” speaking of your vision enables interviewers to know you’ll be an employee that means business.

Usually, there’s another question: “Where do you see yourself in five years?” Try and find how you should answer this question and include a part of it while answering why someone should hire you.

Employers prefer hiring candidates that have a goal for themselves and are willing to tie them with the company’s objectives.
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