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Top 10 Highest Paying Jobs and Career Options

Career

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July 30, 2018

Which are the highest paying jobs and career options? Working professionals and students across the world are interested in knowing the answer to this question. A Highest Paying Job means a lot of money. You can fulfill all your desires. It also offers a sense of financial security. You can have a good lifestyle and social status. If you are looking for a career change, here is a list of Top 10 Highest Paying Jobs and Career Options.

Before going ahead with the list, let me share few significant points. All the jobs which are mentioned in this post are paying high salary and highly rewarding. But Salary amount may vary with time, economic condition and sector performance. Each job mentioned in the list is unique which will require the necessary skills and domain knowledge. You may need to undergo training or a specific course. Now, let’s look at High paying jobs and career options.

Top 10 Highest Paying Jobs and Career Options

#1 Medical Professional

Medical Profession is one of the highest paying jobs all over the world. A medical professional could be doctors, dentist, physiotherapist, gynecologist or even a pathologist. Out of these doctors with MBBS and specialization degree earns the most.

Medical professional like a doctor can work in government as well as private hospital or they can even start own clinic. Earning of doctors is highly dependent on the skills. Apart from good earning this profession also gives a sense of satisfaction about serving people and making them healthy or disease-free.

#2 High paying Government Jobs

If you really want to serve the nation you can opt for civil service examination. The government offers highest paying jobs to civil service people such as IAS, IPS, IRS, IFS etc. These jobs are nation building jobs. A selection process of civil service is very tough.

Apart from that, you can also plan to apply at PSU such as ONGC, BHEL, SAIL, BPCL, GAIL, HPCL. These companies offer high paying jobs along with salary you will also get benefits like perks, low-interest loan, medical benefits, LTC etc.

#3 Commercial Pilot

Commercial Pilot is among highest paying jobs. If you want to earn good money especially at a lower age you should think of becoming a commercial pilot. The starting salary of a commercial pilot is in between Rs.1.5 Lakh to 2 Lakh per month. It requires immense training and specialized coursework. There are many government organization that offers commercial aviation courses. The career of a commercial pilot is challenging as they need to travel a lot, and most of the time they are in the air.

In addition, numerous private flight schools provide comprehensive training programs designed to fast-track your journey toward certification. These institutions often feature modern aircraft, experienced instructors, and flexible schedules tailored to different learning needs.

#4 Management Professional

Management professional is another set of career option which offers high paying jobs to individuals. Management professional role is required in most of the business areas like marketing, finance, human resource, logistic etc. To become management professional, you need to complete the MBA or PGDBA course. There are many business schools available in India, make sure to select the best business school which offers job via campus recruitment. If you are unable to join direct MBA course, you can opt for BBA course. After completion of BBA, you can go for MBA.

#5 Chartered Accountant

Chartered Accountant is the most promising and one of the highest paying jobs. A task of a chartered accountant is to keep track of financial affairs of businesses. CA’s (Chartered Accountant) are required for auditing and account related work. Chartered Accountant is for commerce graduate. You need to do a lot of hard work to complete CA coursework. As a CA you can opt for a job or start your own practice. A good CA gets monthly salary package of 1 Lakh to 2 Lakh.

#6 Architect

An architect is an evergreen career option. Creative and skilled architects are always in demand. The main task of the architect is planning and designing homes and other structures of clients. The income of a good architect is in the range of 1 Lakh to 1.5 Lakh per month. There are many architects who work as an independent interior designer. A combination of creativity and technical skill makes a good architect. To become an architect, you should be good at drawing.

Also Read – 10 Tips to top your career

#7 Scientist

A scientist is another evergreen career option where you can get high paying jobs. There are very few qualified scientists in our country. The government is giving special attention to R&D and ready to employ good scientists. Some good areas where scientists are required are defense, agriculture, fisheries, biotechnology, food processing etc.

#8 Advocate

An advocate or a lawyer is a profession that always remains in demand, irrespective of the economy or business conditions. Advocates are required in different fields such as criminal, litigation, taxation, corporate etc. A corporate lawyer and criminal lawyer are a highest paying job option. A corporate lawyer earns approximately 8 Lakh to 10 Lakh per year.

#9 Investment Bankers

Investment bankers act as an intermediary between the capital market and investor. They provide asset management services to investors and institutions. It is considered one of the premium fields in the finance industry. To make a career in investment banking you should have a bachelor’s degree which belongs to finance/commerce background. There are very few organizations which provide investment banker course. It is one of the very good career options. You will need good analytical and communication skills to become an investment banker.

#10 Merchant Navy Jobs

Merchant Navy is a team of people who manage commercial shipping operation. This business is very challenging as most of the time you will remain in a ship sailing at sea. There are few courses available at college to become a navy officer. These courses are offered after 12th standard. The salary of a navy officer is in the range of Rs.50000 to 1.5 Lakh per month. Apart from salary, you will also get handsome perks and free food while on the ship.

So, those were the top 10 Highest paying jobs and career options that managed to get into my list. I know that there are many other career options which can earn you better money. But, I have shortlisted options where proper training or coursework is available. A working professional or student looking for high paying job should analyze pro and cons and take appropriate decision.

If you feel that any other career options or jobs are missing in above list which could be highly rewarding, please add it into the comment section given below.

Mutual Fund Agents & Distributors Commission & Misselling Cases

Mutual Funds

Shitanshu Kapadia

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July 28, 2018

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Do you know Mutual Fund Agents & Distributors makes a lot of money from the commission? You must have seen dedicated desk at banks, where so-called mutual fund agents named as relationship managers are sitting. They are trained to promote mutual fund and insurance products which earns them a hefty commission. They try to sell products without understanding investor need and risk profile. Their sole aim is to increase their revenue income or complete the monthly target.

Please note that any regular fund (except direct fund) where you invest your money you are directly or indirectly paying commission to the agent. Most of the mutual fund agents, sub-brokers and distributors work primarily for the commission, investors interest is a secondary part for them.

If you are mutual fund investor it is very important for you to understand different mutual fund commission rates and how mutual fund agents is doing mis-selling of mutual funds. In this post, we will talk about these aspects.

Also Read – Top 10 Direct Mutual Funds – 5 Star Rating by Value Research Online

Mutual Fund Agents & Distributors Commission

The mutual fund agent commission consists of three parts.

Commission from Client

A first commission is a direct commission paid to the agent for the services. This amount is in between 0.5% to 2%. This commission is not one time it is periodic every time you make an investment, you need to pay this commission. So, whenever you are selecting mutual fund agent figure out this commission against what type of advice you are getting.

Upfront Commission

An upfront commission is a commission paid by the asset management companies to the agent for the first year. The commission rate varies from fund house to fund house and type of mutual fund. The upfront payment for equity mutual fund is higher compared to debt funds.

Trail Commission

Trail Commission is the main source of earning for many mutual fund agents. Trail commission is the commission paid to an agent by asset management companies. This commission is paid to the agent every year till you remain invested in the mutual fund. Trail commission is calculated based on the percentage of the asset under management.

Trail commission is part of the expense ratio of the fund. A Trail commission from equity funds ranges from 0.2 – 1% and for debt fund it in the range of 0.1-1%.

So, mutual fund agent’s income purely depends upon investment amount and fund you select for the investment. The prime reason behind mis-selling of a mutual fund is for earning higher commission income.

Also Read – Direct Mutual Funds Platforms for online Investment in India

How to Identify Mutual Fund mis-selling?

There are various ways to identify mutual fund mis-selling.

If your mutual fund distributor is asking you to invest in New Fund offer, probably he is trying to mis-sell mutual funds, or
If agent is trying to sell mutual fund without understanding your risk profile, it may be case of mis-selling, or
If you are holding more sectorial and thematic funds in your portfolio which are sold by agent, it may be case of mis-selling, or
Your agent is trying to sell close-ended fund to you or if your portfolio holding contains majority of close-ended funds compared to open-ended diversified funds, or
If your portfolio contains majority of schemes which are not performing as per benchmark index, or
Making a false statement or sharing misleading information about mutual funds, or
Hiding associated risk of the scheme.

What you can do to save yourself from Misselling?

I hope as an investor you are clear with reason behind mis-selling. Here are few quick suggestions which investor can follow to avoid mis-selling.

Deal only with SEBI Registered Investment adviser.
Ensure that investment advisor understand your risk profile and suggest proper plan matching with your financial goals.
Asking enough questions to determine if the recommendation is right.
Check how the investment adviser is backing up his/her recommendation. It should be based on the facts and figures.
Invest only if you are convinced about product and it is matching with your financial goals.
Prepare direct mutual fund compared to regular mutual funds.

Note – Idea of this post is to make investor aware about mis-selling happening at certain banks on the name of relationship manager. It is not against mutual fund agent or their profession.

CAN SLIM – Stock Market Technique for identifying Best Stocks

Stock Market

Shitanshu Kapadia

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July 22, 2018

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CAN SLIM is a stock market technique for identifying best stocks. Identifying the best stock for the investment is a difficult task especially if you are new to the stock market.

Let’s do one small exercise, take two minutes and answer one simple question.

How will you identify the best stock for investment?

Well, your answer will be stock market research, fundamental analysis, stock market tips, a recommendation of stock market brokers, technical analysis etc. Whatever the case, one thing is sure that if you don’t do your homework correctly you are likely to lose money in the stock market. You have to be firm in the selection of stock. If you don’t know how to select stock here is a stock market technique to identify Best Stocks for Investment. The method is known as CAN SLIM. CAN SLIM is the combination of fundamental analysis and technical analysis.

Also Read – Best Stocks to buy in India for long term Investment

CAN SLIM – Stock Market Technique

CAN SLIM is a popular stock market technique for identifying best stocks for investment. It is techno fundamental strategy. CAN SLIM is a technique developed by the co-founder of Investor’s Business Daily Mr. William O’Neil in his book ‘How To Make Money In Stocks’. He is among Top 20 greatest investors of all time. CAN SLIM means a combination of fundamental and technical analysis, technical analysis suggests an entry and exit point for stock and fundamental analysis gives confidence of holding stock. In short, it is a combination of “WHAT to buy or sell” (Fundamental) and “WHEN to buy or sell” (Technical). This strategy gives benefits of both worlds.

The CAN SLIM stands for

C – Current Earnings
A – Annual Earnings
N – New
S – Supply and Demand
L – Leader or Laggard
I – Institutional Sponsorship
M – Market Direction

Current Earnings

Current Earning is an important parameter for Shortlisting Company. A profit of the company should be growing. You will find current earning in a quarterly result statement of the company. The company profit should be growing at least around 18-20% quarter-on-quarter. (Last three to four quarters). Big accelerating earnings growth attracts the attention of large institutional investors and is expected to take the stock price higher.

Annual Earnings

Current earning (Last three to four quarters) is short term view. You cannot ignore the long-term annual profitability of the company. You should try to find a company with consistent, stable and sustainable profits. The profit should be growing 20-25% over the past three years. A return on equity should be 17% or above.

New

The new thing plays a significant role in the success of a company. Most of the company who turn out as multibagger has one thing common newness and innovation.

New idea, new product or services, new market, new leadership, new condition or innovation is important for growth in the market. You should find out a company that constantly innovating in product and services. A notable example of this is Apple’s iPhone.

Also Read – 10 Multibagger Stocks of Jhunjhunwala Dolly Khanna and Porinju

Supply and Demand

The demand for the stock must be high while supply is low. A share in short supply and higher demand, have the inherent potential to rise faster. And oversupply of shares and weak demand will cause the price to decline. You should look for stocks that have stronger buyer demand especially institutional investor must be interested in the stock. It is an important parameter when it comes to technical analysis of the stock.

Leader or Laggard

Mostly all industries have few leaders and many laggards. You should find out a leader and forget laggard. In order to find a leader you can use ‘relative price strength’. A relative price strength should be 70 or higher. Another way to identify leader is by PE ratio. PE ratio of leader would be comparatively higher compared to laggard.

A stock in a leadership position helps a lot. The biggest market winners tend to be the fastest-growing leaders in a strong and rising industry.

Institutional sponsorship

Institutional sponsorship or investors means FII, Mutual Funds, Insurance companies etc. An institutional investor should be interested and have a stake in the company to support a hike in price. This happens if a stock is very good for investment.

Market Direction

A Market direction means the market trend. It is generally seen that stock moves along with the market trend. Use the market direction to time your buy and sell decisions. Market direction is categorized into three confirmed uptrend, market uptrend under pressure, and market in correction. As per CAN SLIM one should invest during times of definite uptrends.

Over to you

The CAN SLIM method is the simplest method to identify stocks that have a greater possibility to see a price appreciation. The entire CAN SLIM method shows seven traits and all of them should work together. Let me explain – When current earnings, annual earnings are on the growth trajectory and new product or innovation take place (the CAN of CAN SLIM method) it attracts investor and demand of stock is likely to increase (supply and demand of method). These types of stocks are likely to become a leader and institutional sponsors will be surely interested to buy such stocks. This will be beneficial to the investor during a market uptrend.

I hope CAN SLIM method will help you in identifying the best stocks for investment.

Do you use this method for identifying stocks for investment?

Free Virtual Debit Cards in India for online payment

Credit Cards

Shitanshu Kapadia

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July 21, 2018

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Virtual Debit Cards in India – Virtual Debit card means prepaid card. It is like a normal debit card, but it is virtual, not real. This type of card is also known as Electronic Card or e-card. You can use this card only for online transactions. It is an easy and secure way of transacting online without providing card information. If you are looking for a good virtual debit card here is a list of Free Virtual Debit Card in India for online payment.

What is Virtual Debit Card?

A virtual Debit card is a card available either online at the website or inside Mobile banking app. You can use this card for doing shopping online. Virtual debit cards are cheaper compared to a physical card as no expense is involved in creating and shipping. Virtual Card cannot be used at PoS machines or ATMs for cash withdrawal or for recurring/ installments payments or for any other transaction that requires a physical card. The key features of the virtual card are given below.

Key Features

The cash limit of this card is low. This card is valid until the expiry date which is mentioned on the card.
This card can be created anytime online after validation.
It is easy to use this card. Any customer having internet banking facility with transaction rights can create a virtual card.
No additional interest as a card is generated by using deposited amount in the account.
It is secured to use this card as card number is new and usage is mostly allowed only once.

Also Read – What is Virtual Credit Card and How does it work?

Fee Virtual Debit Card in India for online payment

Kotak 811 Virtual Debit Card

Kotak 811 is the first Free Virtual Debit Card. Kotak 811 Virtual Debit Card is offered on mobile banking app. This card is generated automatically once you open Kotak 811 account. To get your virtual debit card details, tap on 811 on the home screen of Kotak Mobile Banking App. You can find the card number, validity date on the front of the card and tap on ‘show’ to get your CVV details. You can use this debit card to make an online purchase. It’s an international virtual debit card.

Axis Virtual or Online Debit Card

Axis bank also offers virtual or online debit card. This card is offered complimentary on Axis ASAP account. This virtual debit card can be accessed online using internet portal or banking app for axis bank. You can get reward points on the usage of the virtual debit card. You can also opt for a physical debit card. Your virtual card will be blocked on receipt of the physical debit card.

SBI Virtual Card

State Bank Virtual Card is a limit Debit card, which can be created using the State Bank Internet Banking facility. The maximum amount of card permissible with SBI is Rs.50000. SBI virtual card is valid for 48 hours or for a single transaction. A customer of SBI can create virtual card anytime. SBI card is issued by marking a lien on the selected account and actual debit to the account will take place only when the Card is used. SBI virtual card is a domestic debit card. You can use this card for online payment in Indian rupee only.

HDFC NetSafe

HDFC NetSafe is an online secure payment solution by HDFC. The NetSafe allows you to generate virtual card by using existing physical card. You can daily generate 5 virtual cards. This card is valid for 48 hours. The maximum limit of this card is Rs.75000.

Why one should use Virtual Card?

A virtual card has no physical existence and it can be used only for the specific time period. It is less risky to use this card for an online transaction. The card usage is protected via OTP, which is sent only to a customer’s registered mobile number. This means a chance of fraud is very less. As this card does not exist physically it cannot be cloned.

The virtual Debit card has a low limit and it can be used only for online transaction. If you are a frequent user of a credit card for doing online purchase, you should think of using a virtual card as an alternative to a physical credit card.