Monday, May 28, 2012

career in foreign languages

Career in Foreign Languages

Introduction Step-by-Step Start Early Is it the Right Career for Me?What would it Cost Me?Funding/Scholarship Job Prospects Pay Packet Demand and Supply Market Watch International Focus Positives/Negatives Different Roles, Different Names Top Companies Tips for Getting Hired Institutes

Introduction

With Indian companies emerging as global players and Indian market being eyed by multinational companies, it becomes essential that there is no dearth of professionals who can overcome language barriers and facilitate smooth communication for proper business transactions. Foreign language experts with a good understanding of cultures are in great demand in the corporate world. The scope of foreign languages as career is stupendous and candidates willing to explore it have multitude of job opportunities in various multinational companies and multilateral organisations. Moreover, language skills are essential attribute in most professions and help in the advancement of career.

Step-by-Step

There are various options to learn foreign languages. Whereas several students start learning a foreign language in their schools, numerous others opt the course after their 10+2 and go for graduation courses that are offered by various institutes, colleges and universities. Then there are some certificate courses and diploma courses which take less time and duration and are available in a condensed form – candidates who have done 10+2 are eligible for such courses. Those who are interested in higher education in foreign languages can opt for post-graduation and PhD which are being offered at select universities in India.

Start Early

Language skills are like sport skills wherein early starters are at an advantage. Therefore, it is advisable to make an early beginning as love for a foreign language cannot be developed; it has to be felt from within. Some public schools in India have foreign languages in their curriculum. Home tuition is ideal for those who have passion to learn foreign languages. Moreover, in order to attain proficiency in language skills, practice is key. Therefore, it helps tremendously if the learner is able to build a group wherein they converse in the concerned.

Is it the Right Career for Me?

If you have a deep interest in knowing the way of life, language and culture of other people, learning a foreign language is an extraordinary career option. Career in a foreign language is not only attractive in terms of fulfilling the innate passion to know culture and people but also earns you handsome salary. Knowing one foreign language alongside English adds significant value to career prospects. However, be ready to put in a lot of effort as learning a language is a painstaking task and requires high levels of concentration and a lot of hard work.

What would it Cost Me?

Whereas fee for foreign language courses in central universities such as University of Delhi and Jawaharlal Nehru University is minimal, Max Mueller Bhavan or Inlingua charge considerable fees from students. The fee depends upon the language and the number of learners. Whereas learning Korean, Japanese and Chinese is tough, these are available at only few centres in India and are available at a high cost. Arabic and Persian are available at most of the national universities and that too at very low fees. Alliance Française offers courses in French language and the whole course lasting for five year can cost anywhere between Rs 3-4 lacs.

Funding/Scholarship

Jawaharlal Nehru University offers attractive scholarships for students studying foreign languages. The university has excellent student exchange program with various universities and foreign language students receive option to study in foreign universities for certain period during their study in JNU. University of Delhi too offers certain scholarships based on merit and performance in university exams. Similarly, governments of South Korea and Japan offer students of Korean and Japanese a number of scholarships. Max Mueller Bhavan offers two scholarships at its centres in India to the two best students of advanced level learning. They are offered a chance to visit Germany and observe the society and people to learn the language with first hand interaction.

Job Prospects

Academic qualification and proficiency in foreign languages opens the gate for career in sectors such as tourism, embassies, diplomatic service, entertainment, public relations and mass communication, international organisations, publishing, interpretation and translation, etc. Additionally, various multinational corporate bodies require candidates possessing excellent language skills in French, German, Russian, Chinese, Japanese, Spanish, Korean, Portuguese, etc. Some new avenues such as online content writers, technical translators or decoders too have come up in a big way.

International organisations such as the United Nations Organization (UNO), Food and Agriculture Organization (FAO) and various Indian national organisations such as Ministry of External Affairs, Reserve Bank of India (RBI), etc too require professionals who have specialisation in foreign languages.

Pay Packet

Foreign language professionals earn attractive remuneration depending upon the work and the organization. Professionals working for PR or Marketing Department of any MNC can earn Rs 30,000 – 50,000 per month. Teachers can earn any salary in the range of Rs 15,000 to Rs 25,000 a month. Translators on the other hand receive Rs 250 to Rs 500 per page; compensation depends a lot upon the proficiency in the language. Similarly, an interpreter who is paid on an hourly basis can earn Rs 2000 to Rs 4000 per hour, again depending upon his calibre and work experience.

Demand and Supply

Despite huge demand for foreign language professionals there is not much information available for aspirants. As a result few professionals come out from foreign language institutes which ultimately results in a dearth of trained foreign language experts. India requires a huge number of foreign language experts, particularly in Chinese, Japanese and Korean languages. Whereas India possesses millions of English language experts, it faces shortage of people who know French, German and Portuguese. One important reason for shortage of trained foreign language professionals is lack of infrastructural set up in institutes and universities. Also, there are not many institutes which offer quality training in any foreign language. Additionally, most of the foreign language training centres or universities are located only in metros and big cities and candidates from small cities cannot afford to come to learn languages in metros.

Market Watch

Market for professional experts in foreign languages, particularly in European languages is expected to widen up in couple of decades. Evalueserve, an international research company claims that there would be a requirement of more than 1,60,000 foreign language professionals in various BPO, IT and KPO processes in India. Moreover, there is a strong requirement for skilled foreign language professionals who can effectively work in language-sensitive processes outsourced to India by companies located in the European countries.The research company concludes that the total addressable market for language-sensitive work is worth USD 14.4 billion. The demand is putting aside the English language experts which are in plenty in India.

A major issue with India’s foreign language professionals is that they are not efficient enough to work in language-sensitive processes thanks to their inefficient training. Numerous companies hire foreign professionals with proficiency in languages for outsourced work despite their heavy fees which, in fact, shows that Indian language professional can cash in, given right training is provided to them.

International Focus

Whereas Indian MNCs require trained foreign language professionals to open their operations in foreign countries, foreign multinationals require such candidates at cheap salaries from India. The situation is so attractive for Indian foreign language professionals that language experts in Japanese, Chinese and Korean get jobs soon after their five year language course from various institutes. International job opportunities for foreign language experts from India are open in supranational bodies such as United Nations Organization and its other bodies, various projects of India’s Foreign Ministry and of course India’s spy agencies.

Positives/Negatives

The demand for a language depends a lot on the country and its economic prowess; therefore, it is important to take an informed decision while choosing a particular language as a field of study. One fine example is Russian language. When the Soviet Union was at the helm of international business and India’s biggest development partner, Russian experts were in high demand; however, after the breakdown of the Soviet Union, there is not much scope for Russian language professionals. Same is the situation with Persian language. Now it is China and Japan that offer attractive job prospects for Chinese and Japanese language professionals respectively.

Despite the fact that there are certain inherent risks in deciding upon a career in foreign languages, it is an interesting career. Nevertheless, the satisfaction of knowing a foreign language is worth taking the risk. And in any case, a well thought out decision taken after setting the priorities is certain to steer you in the right direction.

Different Roles, Different Names

Foreign language experts don a variety of roles depending upon their skills and experience as well as the job. Here are some of the professions you can look for:

•    Diplomatic Service Professional
•    Foreign Language Trainer
•    Translator for MNCs and Government Organizations
•    Research Associate
•    Interpreter
•    Tourist Guide
•    Air Hostess or Flight Steward
•    Attendant at hotels
•    Freelance Writer, Translator, Interpreter
•    Public Relation Officer

Top Companies

Some of the top corporate companies that hire language experts are:

•    Accenture
•    Evalueserve
•    Wipro
•    Fiserv
•    TCS
•    Tech Mahindra
•    Infosys
•    Kuliza
•    Scabbard

Tips for Getting Hired

There is no shortcut to get a job as what matters is the skills and proficiency; therefore, the person should be genuinely skilled in the language so that his skills can be used by the employing company. However, there are some points which can help a candidate get hired which can be summarized in the following manner:

A passion to learn foreign language is must as it helps to know the language in fulsome manner,

Readymade sentences do not help in long term, so learn the language from scratch and construct your own sentences. There would be problem at the beginning but effort would pay in the end.

A learning aptitude and zeal to excel is must to build up proficiency in spoken aspect of the language.
If active interaction is possible, use it to maximize the language skills. No one can speak better than native speaker so talk with them to enhance spoken skills,
What various MNCs and KPOs look for in candidates is their fluency and clarity in the language, so gain them overtime.

Institutes

Read more Careers on : foreign language, French, german, Spanish, Chinese, mandarin, BPO, multinational, career. Interpreter, translator Foreign Languages

career in chartered accountancy

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Careers in

Career in Chartered Accountancy

Introduction

Chartered accountancy is the core of all business, be it big or small. A chartered accountant’s work involves auditing, taxation, accounting and financial planning. It can be a very challenging and rewarding job.

Career prospects after doing chartered accountancy are exciting. Chartered accountancy can be the first step to other rewarding careers in finance, investment consultancy and fund management.

The Chartered Accountancy course is conducted by the Institute of Chartered Accountants of India, which has its headquarters in New Delhi, 5 regional offices (Calcutta, Kanpur, Chennai, Mumbai and New Delhi) and 81 branches under these regional centres.

Step-by-Step

The qualifications for becoming a CA have changed over the years. Initially — and that was decades ago — one could think of becoming a CA only after finishing graduation and a candidate had to undergo five years of articleship training. In 1991-92, ICAI allowed candidates who had cleared their Plus Two examinations to appear for the Foundation Course of the CA programme. In October 2001, ICAI introduced PE-1 and PE-2 system of examinations in place of the Foundation and the Intermediate examinations. However, in 2006, ICAI revamped the system and launched CPT, IPCC and FC.

The unique feature of the chartered accountancy is its curriculum, which is theoretical education with complementary practical training. A student would undergo theoretical education and practical training concurrently from the very beginning. This balanced approach helps the students to appreciate the underlying practical applications of the theoretical education scheme.

Common Proficiency Test (CPT)
CPT is an entry level test of four subjects i.e. Accounting, Mercantile Laws, General Economics and Quantitative Aptitude.
Integrated Professional Competence Course (IPCC)
This is first stage of CA curriculum wherein only working knowledge of core and allied subjects to accountancy profession is covered. The subjects of IPCC are classified into two groups which a student can study and appear in the examination group-wise or both the groups together. IPCC is designed to improve knowledge of accountancy linked to accounting standards to build strong foundation for developing knowledge of financial reporting at the final stage. The students update their knowledge of business communication, business strategies, taxes, information technology and audit.
CA Final
CA Final covers advanced application knowledge of core subjects like financial reporting, strategic financial management, advanced management accounting, advanced auditing and professional ethics and information systems control and audit. In addition, principles of e-governance, corporate and allied laws, international taxation and VAT are important features of the updated subject contents.
Articleship
The students after passing Group I of IPCC will register for Articleship for a period of three years with experienced CAs. Certain rules do apply - CAs with 16 years of experience and above can take on about 8 articles, those with less experience can train fewer articles and these teachers or 'Principals' as they are called, can be changed during the course of training. An agreement of training needs to be executed before it begins. During the training time, articles learn the technical details of the work and as time passes, they are given larger assignments with less supervision. All articled clerks are paid a stipend depending on their city's population.

Start Early

In today’s cut throat competitive world, it is advisable that a student starts planning right after class 10. For chartered accountancy, a student can register with the Board of Studies and prepare for entry level test while pursuing 10+2. It is better to take mathematics at this level. Students of commerce stream definitely have an advantage while pursuing this career. The latest scheme of CA is designed to encourage young talented students having aptitude for accounting education to make an early entry into the profession.

Is it the Right Career for Me?

It is generally believed that only students of commerce should pursue CA course. However, CA being a very practical course, the students from science and arts streams can equally benefit and make a successful career. Students of science and arts stream have to make extra efforts in order to understand some complex accounting nuances and have to get basic knowledge of various management topics. But it can be easily concluded that students of science and arts streams can be successful CAs, if they are ready to toil.

What would it Cost Me?

Unlike other professional courses, the fee for becoming a CA is very less, which is inclusive of the cost of study material. For registering with IPPC you have to shell out Rs 9000 while the fee for CPT is Rs 6700.

Funding/Scholarship

There is not much scope for any scholarships while pursuing chartered accountancy.

Job Prospects

On completion of the training, the candidates need to gain membership to the ICAI before they can start practicing as a CA. A member wishing to practice in India or abroad needs to obtain a Certificate of Practice from the ICAI, the yearly fee of which is Rs. 400. Once the membership is taken, the practicing member cannot work in any other business or occupation without taking permission from the council; they are only permitted to work in areas as specified in the CA regulations. More information on enrolment or the examinations can be requested from the Institute's offices or the Headquarters at Indraprastha, New Delhi or the Board of Studies, C1 - Sector 1, Noida - 201301.

Pay Packet

For CA Inter: Generally candidates holding CA inter-qualification are paid somewhere between Rs 7,500 and 15,000 depending on the type of firm. Payments can be higher for candidates possessing other qualifications such as MCom or an MBA. On the other hand starting salaries can be as little as Rs 4,500 to 5,000 in some small towns of the country.
For CA Final (FCA): Starting salaries range between Rs 12,000 to 30,000 depending on the type of firm and nature of the economy.
A full fledged CA can expect a salary between Rs 30,000 to 75,000 after serving a stint of more than 5 years at a top firm.

Demand and Supply

It can be easily concluded that the country needs about 7,500 to 10,000 fresh CAs every year seeing the growth of Indian economy in the last 5 years.

Market Watch

Chartered Accountants have been one of the most sought after professionals in India. Much of the reputation of CAs is due to the fact that their rigorous training (both theoretical and practical) makes them practically jack of all trades as far as the domain of finance is concerned. In spite of the sea change in global trade systems and practices, the requirement of CAs has remained steady.
The demand for CAs has been growing between 10% to 15% over the past 3 – 4 years. The demand however depends on the state of the economy and there is direct bearing on the demand of CAs when the economy is in downtrend. But the statutory clause for mandatory appointment of CAs provides substantial cushion support to the CA fraternity as compared to other comparable peers.

International Focus

The qualification of CA is globally recognized hence industry outlook for CAs is bright indeed. Much recognition for CA degree is due to the fact that the CA course has been able to keep pace with changes in industry scenario. Several new modules and topics have not only been incorporated into the CA course but have been very effectively implemented to give increasing more power to the CA degree. In spite of the fact that several top-notch B-schools (including IIMs) have produced some of the most brilliant B-school grads, it is noteworthy that CAs has been able to retain their prominence in present world order.

Positives/Negatives

+ves

The job is highly paying.
CAs command tremendous respect in the organisations and society.

-ves

It can be a stressful job as the responsibilities are enormous and there is no scope for any errors.
Regular update of knowledge is a must otherwise it may lead to stagnation in career.

Different Roles, Different Names

A Chartered Accountant’s work area has become so wide and involves so many activities that sometimes a CA is perceived as almost an enigma. A CA can start career with auditing activities, which is the basic work area of a CA. From here a more fulfilling career in finance can be pursed after getting enough exposure of intricacies of finance. As an investment consultant and as a fund manager a CA can play the role of a top decision maker. CAs also work in project management and consultancy services.

Top Companies/Verticals

Following are the areas where CAs find an opportunity:

Banks (Both private and public)
Public Limited Companies (mandatory for the purpose of law)
Auditing Firms (such as KPMG, Price Waterhouse, etc.)
Finance Companies, Mutual Funds, Portfolio Management Companies, Investment Houses, Stock Broking Firms
Legal firms, Legal houses, Patent Firms, attorneys, Trade Mark and Copyright Registers

Tips for Getting Hired

Accounting is a precision oriented job. Pay attention to how you dress, speak and conduct yourself in company. These also add a personal charisma which helps in maintaining good relations with peers and clients.
You need to understand the business world. It is also important that you show this understanding. Start looking at the bigger picture in terms of company numbers. This business acumen is a prerequisite for a CA.
Leadership and analytical skills are vital to a chartered accountant. Besides these, work on your communication skills both oral and written.
Be prepared to work long and hard when needed especially in the taxation months.
Maintain high ethical standards.