Welcome to our latest podcast blog! In this episode, we are featuring a heartening success story of one of our placed candidates, Durga Prasana, who successfully transitioned from being a Chartered Accountant (CA) to landing a role in the Investment Banking (IB) sector. This inspiring journey was made possible through our Investment Banking Program, where Durga shares her experiences, the challenges she faced, and the guidance she received from our expert mentors.

As part of our Job Placement Assistance, we aim to help our candidates secure meaningful and impactful roles in various industries. Durga’s story is a testament to the hard work and dedication that both our candidates and mentors invest in making career aspirations come true.

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Podcaster:

Good afternoon everyone. We're back with another successful placement. We have with us Miss Durga Prasana. How are you Durga?

Durga:

I'm good, sir. How are you?

Podcaster:

I'm fine as well. We are so happy to see that you got placed. So please tell our audience about yourself.

Durga:

Hey everyone! I’m Durga Prasana, a qualified Chartered Accountant. After completing my qualification, I decided to pursue a career in investment banking. I know it's not an easy domain to break into, so I enrolled in an Investment Banking course with Jobaaj, along with their job assistance and placement program. After my internship, I was fortunate to receive a great opportunity to work as a fresher in this industry, thanks to the continuous support from the Jobaaj team.

Podcaster:

Thank you! That’s really nice to hear. Now let’s break down your journey. You mentioned that you’re a qualified CA. When did you complete your Chartered Accountancy?

Durga:

I qualified in the May 2024 attempt.

Podcaster:

May 2024! And did you work after that?

Durga:

No, sir. I was working until July 2024. After that, I started looking for placements in the IB industry. It was tough to break into, so I decided to pursue coaching and an internship to help me gain a foothold. That’s when I chose this course at Jobaaj.

Podcaster:

Right! So, Durga, CA is a prestigious degree and many people consider it at some point. But why do you think CA alone wasn’t enough to break into IB or core finance?

Durga:

CA is a very professional and rewarding qualification. It pays well in many domains. But when it comes to investment banking, you need more specific technical skills and deep knowledge. While CA gave me solid theoretical understanding, I needed practical experience and mentorship to understand what the industry actually requires. That’s where Jobaaj’s professional guidance made a difference.

Podcaster:

Right, you’ve studied a lot of theory in finance, like FME in intermediate and strategic financial management in your finals. But as you said, CA studies lack practical application.

Durga:

Yes, exactly.

Podcaster:

Thank you for shedding light on that. Now, let’s talk about the journey with us. After enrolling, you studied and cleared the exam. Then came the assignments. How was that experience?

Durga:

It was a completely new experience for me. Before the assignments, I only knew the theory, but the course helped me apply my knowledge practically. For example, I learned how working capital is applied in real company financial statements, not just the theory. Initially, I made some mistakes in my assignments, like the capital growth percentage, but I received detailed feedback from you, and I learned a lot. It was a great learning experience for me.

Podcaster:

I can imagine you were frustrated at some points with all the corrections. It must have felt like a lot of work, right?

Durga:

Yes, sir! There were times I got fed up, especially with the same mistakes, but after some conversations, I understood where I was going wrong. Now, I can explain these concepts to others confidently.

Podcaster:

Exactly, the real learning happens when you apply theory on the spreadsheet. One mistake in a cell can ruin everything, and fixing it takes time. But that’s the reality of the job!

Durga:

Absolutely, sir.

Podcaster:

After all the hard work with assignments, what was the placement process like?

Durga:

After completing my assignments, the placement team reached out to me. Vishakha ma'am and Vanshika ma'am were instrumental in the entire placement process. They helped me with LinkedIn optimization, approaching HRs, and applying for roles. They guided me at every step, no matter how small the doubt. I felt very supported throughout the process.

Podcaster:

We want our candidates to succeed. It’s not just about the course, it’s about getting you placed in the right role. How long did it take for you to land your job?

Durga:

It took around two months from starting the placement process to getting the job. I attended one or two interviews before getting the offer from Oxan Partners.

Podcaster:

So, was CA helpful in landing the job, or do you think the rejections were more about your profile or performance?

Durga:

CA definitely gave me an edge. It helped me get shortlisted by many good companies. Even though I faced rejections, I know the CA qualification gave me credibility and helped me stand out.

Podcaster:

People often say that finance is a male-dominated industry. Did you face any gender-based discrimination or challenges?

Durga:

No, sir, I never faced any discrimination. Many people, both men and women, were willing to help me with referrals or doubts. I didn’t experience any setbacks because of my gender.

Podcaster:

That’s great to hear. And finally, what advice would you give to others who want to break into the finance industry, especially women?

Durga:

I would say, it’s not easy for a fresher to get into the finance industry, but mentorship and professional guidance are key. I didn’t know how to approach companies or apply for referrals initially, but with the help of Jobaaj, I learned everything. Finance is competitive, but with persistence and the right guidance, anyone can make it.

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Don’t miss the full conversation—watch the podcast now and get inspired by Durga's journey!

 

General interview questions answered by Durga during her selection process

What technical skills do you possess that would make you an asset to our team?

Sample Answer: I have strong proficiency in financial analysis, including working with Excel for financial modeling, forecasting, and ratio analysis. I’m also comfortable with tools like Bloomberg and Reuters for market research and data analysis. Additionally, I’ve learned how to analyze key performance indicators (KPIs) like EBITDA, P/E ratios, and debt-to-equity ratios, which are essential in assessing a company’s financial health.

Can you explain how working capital impacts a company’s financial health?

Sample Answer: Working capital is the difference between a company’s current assets and current liabilities. It measures a company’s short-term liquidity and operational efficiency. A positive working capital indicates that the company can cover its short-term liabilities and reinvest in operations. Conversely, negative working capital could signal liquidity problems, affecting the company’s ability to pay off its debts or invest in growth opportunities.

Why do you believe mentorship is important in the investment banking industry?

Sample Answer: Investment banking is a highly technical and dynamic field. Mentorship helps individuals gain real-world insights and guidance from professionals who have already navigated the complexities of the industry. It also accelerates learning and skill development, ensuring that individuals don’t just focus on theory but also understand how to apply those skills effectively in real-life situations. In my own journey, mentorship was crucial in bridging the gap between academic knowledge and practical application.

Describe a time when you had to work under pressure and how you managed it.

Sample Answer: During my internship, I was tasked with preparing a financial model for a potential merger. The deadline was tight, and there were several data discrepancies to resolve. I broke the task down into smaller, manageable steps, prioritized the most critical issues, and communicated regularly with my team for feedback. By staying organized and calm under pressure, I was able to meet the deadline without compromising on quality.

How do you stay updated on the latest trends and developments in the finance industry?

Sample Answer: I regularly read financial news and reports from sources like Bloomberg, The Wall Street Journal, and Financial Times. I also follow industry experts on LinkedIn and attend webinars and networking events to stay updated on the latest trends in investment banking and financial markets. Additionally, I’ve completed courses on financial modeling and investment banking, which I use to further my knowledge.