First job? Take what you get and run with it

While much of the media in recent months has focused on job losses and downsizing in Indian industry as a result of the global slowdown, the real crisis is in India's engineering colleges and business schools, and on college and university campuses.

Most of corporate India's workforce is still hanging on to their jobs. Sure, increments are low and some may have been downsized but, by and large, most people who were in employment are still getting a monthly pay cheque. It is those who are seeking employment for the first time who are struggling the most.

If you leave the Top 50 B-schools and the Top 100 engineering colleges out of the discussion, the majority of the graduating class in most campuses is still looking for jobs and many who have managed to get a job have had to lower their expectations and go for what they can get.

Bangalore: In engineering colleges, the information technology, or IT, services sector is most responsible for the low off take of graduates. Many IT companies simply did not go to colleges to hire this year. And those that did go ended up either withdrawing offers or deferring joining dates by several months or longer.

At some of the best B-schools, many students are still without jobs, and at others, those who have got placed have had to accept offers from companies they would not have dreamt of joining till just a few months back. The situation in the lower-ranked B-schools is a lot worse.

The B-school situation is compounded by the fact that in the last five years, course fees have risen to a level that graduates need to get jobs which pay a certain minimum amount to be able to repay education loans taken for the course in the first place.

While this may be bad enough, there is worse news to come. While it is hoped that the Indian economy and the hiring will pick up in the second half of this financial year, the fact is that hiring at the entry level will pick up a lot later. It has been seen in the past that entry-level hiring gets hit first in a slowdown and picks up last in a recovery. Do not expect any great joy in the next placement season.

So, what should a fresh engineer or MBA do in the current market?

First, accept the new reality. The market has changed and till it changes back for the better, you are going to have to scale back your expectations. Sure, it's not your fault and this is not what you studied hard for, but that's the way the cookie crumbles.

Be flexible about the industry you wish to join: If IT is not hiring, it is not hiring, period. Either join a smaller company in IT or a start-up, or look at other areas. There are many other industries that need engineers and some companies there may be hiring telecom, manufacturing, chemicals and electronics, among others. Be willing to look at something different.

Lower the bar on salary. The average salary for the graduating class at the business school has gone up by close to 40 times in the 20 years . And my 4-5 years seniors must had considered themselves fortunate and privileged at that time.

While 20 years is a long time, a 40-time hike in salary during this period is great going by any standard.

I am pretty sure the wage inflation in the graduating class of other B-schools and engineering colleges has been as much in the past two decades. So be happy you've done well. Count your blessings.

Consider other functions and roles. Yes, you always dreamed of being an investment banker. But those jobs are simply not available any more. Take what you are getting and run with it. More opportunities will emerge as the economy recovers. Till then get some experience under your belt.

Think about a further course of higher study. If the job market depresses you or you are just not able to get what you want, evaluate a further qualification and come back into the job market a couple of years later when things are better.

In short, roll with the flow. Over a 30-year career span, what you are experiencing today is only a minor setback... :)) Cheers

India ranks 87 in the list of failed nations

New Delhi: India is far better than the neighbors like Pakistan and China in terms of the performance as a nation. India is ranked 87 in a list of 177 failed states in 2010 while China ranked at 57th place and Pakistan at 10th place. The list,published by Foreign Policy magazine, is topped by Somalia, followed by Zimbabwe, Sudan, and Chad.

In India's immediate neighbourhood, Burma has been placed at 13, Sri Lanka (22) and Nepal 25. China is ranked at 57th place. Norway is ranked at the bottom of the list.

"Shattered Somalia has been the No.1 failed state for three years running, and none of the current top 10 has shown much improvement, if any, since FOREIGN POLICY and the Fund for Peace began publishing the index in 2005," it said.

"Altogether, the top 10 slots have rotated among just 15 unhappy countries in the index's six years. State failure, it seems, is a chronic condition," said the magazine.

The magazine said Somalia saw yet another year plagued by lawlessness and chaos, with pirates plying the coast while radical Islamist militias tightened their grip on the streets of Mogadishu.

"Across the Gulf of Aden, long-ignored Yemen leapt into the news when a would-be suicide bomber who had trained there tried to blow up a commercial flight bound for Detroit," it said.

Afghanistan and Iraq traded places on the index as both states contemplated the exit of US combat troops, while already isolated Sudan saw its dictator, Omar Hassan al-Bashir, defy an arrest warrant from the International Criminal Court and the war-ravaged Democratic Republic of the Congo once again proved itself a country in little more than name, the magazine said.

The magazine has used 90,000 publicly available sources to analyze 177 countries and rate them on 12 metrics of state decay - from refugee flows to economic implosion, human rights violations to security threats.

An hour interview on CNBC with Warren Buffet...

There was a one hour interview on CNBC with Warren Buffet, the third richest person in the world as of April 2007, behind Microsoft co-founder Bill Gates and Mexican telecom magnate Carlos Slim. In June 2006, he made a commitment to give away his fortune to charity, with 83% of it going to the Bill and Melinda Gates Foundation. The donation amounts to approximately $30 billion. Buffett's donation is said to be the largest in U.S. History. At the time of the announcement the donation was enough to more than double the size of the foundation.

His annual salary of about $100,000 is tiny by the standards of senior executive remuneration in other comparable companies. In an interview on CNBC, he mentioned that his annual salary is equal to the price of the Berkshire Hathaway Class A share price.

Here are some very interesting aspects of his life.

1. Born on August 30, 1930, he bought his first share at age 11 and he now regrets that he started too late!
2. He bought a small farm at age 14 with savings from delivering newspapers.
3. He still lives in the same small 3 bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4. He drives his own car everywhere and does not have a driver or security people around him.
5. He never travels by private jet, although he owns the world's largest private jet company.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.
7. He has given his CEO's only two rules.

Rule number 1: Do not lose any of your share holder's money.
Rule number 2: Do not forget rule number 1.

8. He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.
9. Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
10. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
11. His advice to young people: Stay away from credit cards and invest in yourself.

Tips for Taming Your Tongue

Your language might offend some people, but the tone and attitude behind your words do far greater damage to all of your relationships.

Even if your friends and associates commonly use cuss words, you will be perceived as more mature, intelligent, articulate, polite, considerate and pleasant if you control your language and the emotions that typically prompt expletives. You can choose to have character and class, or be considered rude, crude and crass.

Cursing is sometimes humorous, but sometimes abusive. It can help vent anger, or provoke it. It can relieve stress, or cause it. It can be clever and flirtatious, or sexist and intimidating. Consequently, be aware of when and where you swear. Control it, tame it, time it. Or, to be on the safe side, stop using it altogether.

Recognize that swearing does damage.
You probably swear because it is easy, fun, candid, emphatic, expressive, breaks rules, and somehow partially reduces anger and pain. But the negatives outweigh the positives. You really don't win an argument by swearing. You don't prove that you are smart or articulate. You don't earn respect or admiration. You don't motivate, you intimidate. Swearing doesn't get you hired, promoted, or romantically connected.

Start by eliminating casual swearing.
Pretend that your sweet little grandmother or your young daughter is always next to you. Use inflections for emphasis instead of offensive adjectives. Be more descriptive instead of using the "s" word to describe everything from objects, work and the weather to the way you feel, the way someone looks, and the way something smells.

Think positively.
Look to the bright side. Develop a "can do" attitude. Worry only to the point that motivates you to prepare for the problem, then hope for the best. A positive mental attitude not only eliminates lots of swearing, it brings you contentment and brightens your personality.

Practice being patient.
When you are stuck in line or in traffic, ask yourself if a few more minutes matters. Be honest -- does it really matter? If so, and you have no control of the situation, plan the rest of your day or do the thinking that you say you never have time to do. Talk to someone, even a stranger in line with you.

Cope, don't cuss.
We live in an imperfect world, yet our expectations continually increase. Each day can be filled with aggravations, delays, disappointments and frustrations. The fact is, we have to deal with them anyway. So stop cussing and learn to cope. Consider even the smallest annoyance a challenge, and feel proud of yourself for taking care of it cheerfully and efficiently.

Stop complaining.
Before you start griping or whining about something, remind yourself of a very important reality: no one wants to hear it! Why would they? Avoid complaining about matters that you and the people with you have no control over. For all other complaints, try to offer a rational solution. Others will admire your common sense, wisdom and calm approach to the problem.

Use alternative words.
English is a colorful language, but chronic cursers repeatedly use the same, unimaginative words that have been around for centuries. Take the time to develop your own list of alternatives to the nasty words you now use, relying on your own intelligence, a thesaurus, good books, and even some of the more clever TV shows. Select a few powerful or even funny words, and get in the habit of substituting them for swear words. For example, instead of B.S., choices range from lie, fabrication, nonsense and exaggeration to bunk, baloney, drivel, malarkey, hokum, hogwash and balderdash. They might not give you satisfaction at first, but they will eventually.

Make your point politely.
Some substitute words can be just as offensive if your tone is abrasive or you insult someone. Think of the response to what you are about to say, and decide if you need to reword your statement to be more effective. For example, if someone suggests that you are doing something incorrectly, your response can range from "Who gives a flying f___?" to "I don't care," to "It really doesn't matter," or "I think my way is faster." The first reply is defensive, defiant, belligerent, and reflects a terrible attitude. The last reply is a justification that the other person might appreciate. Take the time to make your point in a mature and convincing manner.

Think of what you should have said.
It is easy to blurt out a swear word at an inappropriate time, or to bark out a tactless or tasteless remark before you have a chance to consider the impact. Think of what you could have said. After you shout an expletive, simply say the tamer word you wished you had said. If you make a statement that you later realize was negative, confrontational or rude, think of how you could have phrased the statement. Over time, these exercises will train you to think and act differently.

Work at it.
Breaking the swearing habit might prove to be no easier that losing weight, giving up cigarettes, or correcting any other habit. It takes practice, support from others, and a true desire to be a better person - not only by controlling your language, but the emotions that prompt you to swear. Here are a few exercises to condition yourself:

* Think in clean language, and switch negative thoughts into positive solutions.
* When you are on your way to a situation you know will test your temper and your tongue, plan
ahead what you will say and how you will say it.
* Tell your family or friends what you are doing, and you will be more cautious around them.
* Determine when and why you swear the most, and develop your own tricks for changing your behavior.