Education: Thinking Out of the Box

Thinking Out of the Box

Intro: Students should identify their abilities and talents on the basis of their knowledge and interests. This will help them shape their career more effectively. So, let's look at some of the skills and out of the box career options

During summer months after the board exams gets over students want to utilise their time by thinking and doing some constructive and fruitful activity. Nowadays, students are planning to get admission into the colleges and pursue those courses in which they have interest. But sometimes due to peer pressure of parents and following their friends, they fit into a box like formation which does not allow them to think out of the box. But, today in the market there are plenty of options open to get into.

Forensic Psychology

Forensic psychologists need patience, creativity, and commitment. Are you interested in studying both law and psychology? Students who enjoy both subjects may find that forensic psychology is the perfect career choice. There are answers to some commonly asked questions.

What is forensic psychology?

Forensic psychology involves applying psychology to the field of criminal investigation and the law. The popularity of forensic psychology has grown phenomenally in recent years, partly due to sensationalised portrayals of the field in movies and television, which are not always accurate. Forensic psychologists are often depicted as criminal profilers who are able to almost psychically deduce a killer's next move. In reality, these professionals practice psychology as a science within the criminal justice system and civil courts.

What do forensic psychologists do?

Forensic psychologists are often involved in custody disputes, insurance claims and lawsuits. Some professionals work in family courts and offer psychotherapy services, perform child custody evaluations, investigate reports of child abuse and conduct visitation risk assessments.

Those working in the civil courts often assess competency, provide second opinions, and provide psychotherapy to crime victims. Professionals working in the criminal courts conduct evaluations of mental competency, work with child witnesses, and provide assessment of juvenile and adult offenders.

How much do forensic psychologists earn?

Salaries within forensic psychology can range greatly depending on the sector of employment, although most entry-level positions for those with a doctorate degree start out between $60,000 and $70,000 annually (approx 40,93,950 INR). Individuals with a bachelor's or master's degree generally hold the title of psychological assistant or psychological associate.Starting level salaries for these positions generally start around USD 35,000 or USD 40,000. Those in private practice who offer consulting services typically earn more, often in the USD 85,000 to USD 95,000 range.

 Eligibility

Such a degree normally takes 5 to 7 years of study. Admission into doctoral programmes is highly competitive. After the appropriate education, training, and experience, forensic psychologist can apply for board certification. The American Board of Forensic Psychology offers professionals the opportunity to be certified as a Diplomat of Forensic Psychology.

Actuarial Science (Insurance)/ Insurance Actuary

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Actuary means a person skilled in finance modelling and risk analysis in different areas of insurance. This study includes the value of life interests and insurance risks, or designing and pricing of policies, working out the benefits recommending rates relating to insurance business, annuities, insurance and pension rates, technology, taxation, employees’ benefits and such other risk management and investments.

What does an Actuary do?

a)Actuaries Make Financial Sense of the Future: Actuaries are experts in assessing the financial impact of tomorrow’s uncertain events. They enable financial decisions to be made with more confidence by analysing the past, modelling the future, assessing the risks involved, and communicating what the results mean in financial terms.

b)Actuaries Enable More Informed Decisions: Actuaries add value by enabling businesses and individuals to make better-informed decisions, with a clearer view of the likely range of financial outcomes from different future events.

c)Actuaries Balance the Interests of All: Actuaries balance their role in business management with responsibility for safeguarding the financial interests of the public.

Who can become an Actuary?

An HSC passed, graduate, post graduate, Engineer, MBA, CA, ICWA etc with sound knowledge in Mathematics and Statistics. Actuary loves logic and problem solving and can perform as a good communicator. Also, have an excellent sense of business awareness.

Eligibility

A candidate having passed Higher Secondary or equivalent examination in 10+2 pattern with 85% marks high degree of proficiency in mathematics as well as in other subjects is eligible for admission to the entrance examination. However, the candidate should also have attained the age of 16 years.

Job Opportunities

The actuaries can work in wide range of areas such as Life Insurance, General Insurance, Health Insurance, Reinsurance Companies, Pension funds, Consultants, Investments, Banking, Government, Academics and Risk Management. The estimated requirements for trained professionals in the Insurance sector in both government and private sector are expected to be more than 30,000/- a month. There is unlimited scope for actuaries in countries outside India where the infrastructure exists to absorb in avenues like life and general insurance, demography, investment, statistics, operations research etc and the remuneration offered is quite handsome and there is tremendous job satisfaction.

Also Read : Soft Skills That Give Hard Result

-Monica Sangwan