Tarun Shindai's Jobaaj Learnings Review: From MSc Graduate to Financial Analyst at EClerx

"I realized an MBA alone wasn't enough — I needed real skills. That's when I joined the Investment Banking Program... It taught me practical things like financial modeling, equity research, Excel — which MBA didn't." — Tarun Shindai

Tarun Shindai studied BSc in Chemistry, Zoology and Botany, then an MSc, then an MBA — a science track he took because his parents wanted him to, while he wanted finance. He started exploring markets during the lockdown, took Jobaaj Learnings' Investment Banking Program for the practical skills his MBA had not covered, and now works in Pune at EClerx as a Financial Analyst in the Capital Markets division, Asset Servicing, on a Morgan Stanley account.

If you are searching “is Jobaaj Learnings genuine”, “is Jobaaj real or fake” or “is an investment banking course worth it after an MBA”, Tarun's account is unusually blunt about the trade-off he accepted: “EClerx doesn't offer high packages to freshers.” He took it for the domain exposure instead, and says so on camera. He also describes his three-round interview in enough detail to prepare against. Read it alongside the other conversations in our Interview Series and the wider feedback on the reviews page.

Who Is Tarun Shindai? Science by Family, Finance by Choice

Tarun is originally from Barara and now based in Pune. His academic record is entirely in the sciences:

• BSc — Chemistry, Zoology and Botany
• MSc
• MBA

And the reason is candid: “Honestly, I always wanted to pursue an MBA, but my parents wanted me to stay in the science stream.”

The turning point was the lockdown during his MSc. With time on his hands he explored financial markets, took online courses, and started trading — “made profits, made losses — and learned a lot.” That is where the interest in finance and investment banking came from.

Why the MBA Wasn't Enough

Tarun's diagnosis of his own gap is the most useful part of this review for anyone holding a management degree and no offers:

"MBA teaches mostly theory. But the industry wants practical skills. In my interviews, Excel came up a lot. The program helped me master Excel, financial modeling, and live simulations. I remember how others struggled to even use basic formulas — but I was confident because I had practiced everything during training."

Two claims worth separating. The first is about the curriculum gap — his MBA did not teach financial modelling, equity research or applied Excel. The second is an observation from inside the interview room: candidates were visibly failing on basic spreadsheet work.

The Interview at EClerx: Three Rounds in One Day

Tarun describes the process precisely, which makes it genuinely useful preparation material:

The Pressure Test: “What's 7% of 7?”

The detail worth remembering from Tarun's account is what the manager round was actually testing:

"I was asked logical questions like 'What's 7% of 7?' to see if I'd change my answer under pressure. I stayed calm and gave the right answer — and I think that confidence helped me."

The arithmetic is trivial — 0.49. The question is not about arithmetic. It is about whether you abandon a correct answer when an interviewer looks sceptical. Expect that, and hold your ground when you are right.

The Role: Asset Servicing on a Morgan Stanley Account

Tarun works in the Capital Markets division at EClerx, in Asset Servicing. His description of the work, while still in training:

• Handling client transactions
• Dealing with custodians
• Working with securities including bonds and derivatives
• Client: Morgan Stanley — which he describes as making it a high-responsibility role

And a practical detail most job descriptions omit: “Since I work with sensitive financial data, I don't get to work from home — we work on a secure floor with restricted access.” If remote work matters to you, capital markets operations is not the domain for it.

The Salary Trade-Off He Accepted

This section exists because Tarun raised it himself, unprompted, and it is the opposite of what a promotional testimonial contains:

"Don't chase salary in the beginning. Focus on learning and gaining hands-on experience. Salary will come with time. EClerx doesn't offer high packages to freshers, but it gives excellent learning in domains like Asset Servicing, which is critical if you want to enter investment banking or capital markets."

He does not disclose a figure. What he does disclose is that the package is not high for freshers, and that he took the role for the domain exposure instead. That is a real trade-off, honestly stated — and it is worth knowing before you assume a placement means a strong salary.

Pros and Cons, Based on Tarun's Account

What worked:

• Applied Excel training that visibly separated him from other candidates in interviews
• Financial modelling and equity research his MBA had not covered
• Live simulations, so the skills had been practised rather than watched
• A capital markets seat with genuine domain exposure on a major institutional account
• Mentorship he could reach out to during the process

What he says is the downside:

• The fresher package is not high. His words, volunteered.
• No work from home, because of data sensitivity — a secure floor with restricted access.
• He was still in training at the time of recording, so this is an early-stage account of the role.
• The MBA didn't help directly. Useful context if you are counting on a management degree to open finance doors.

Capital Markets Interview Questions and Model Answers

Why did you switch from science to finance?

Model answer: I took science because of family expectations, but the interest was always in finance. The pandemic gave me time to explore the markets properly — online courses, then trading with my own money, which taught me more about risk than any lecture. The analytical habits from a science background transfer directly: hypothesis, evidence, revision.

What is a custodian, and what role does it play in capital markets?

Model answer: A custodian is a financial institution that holds securities in safekeeping on behalf of clients, protecting them from loss or theft. Beyond safekeeping, custodians handle settlement, reporting, corporate actions and compliance for institutional investors — which is why asset servicing work runs through them constantly.

What is KYC and why does it matter?

Model answer: Know Your Customer — the mandatory process of identifying and verifying a client's identity before and during a business relationship. It exists to prevent money laundering, fraud and illicit financing, and it is a regulatory obligation rather than an internal preference, particularly in investment banking and asset management.

What is Anti-Money Laundering (AML)?

Model answer: The framework of laws, procedures and controls that stop criminals disguising illegally obtained funds as legitimate income — transaction monitoring, flagging suspicious activity, and maintaining the compliance record that proves the institution is not being used as a channel.

What are derivatives? Name the main types.

Model answer: Contracts whose value derives from an underlying asset — a stock, bond, commodity, currency or interest rate. The four main types are forwards, futures, options and swaps. They are used either to hedge an existing exposure or to take a speculative position.

How comfortable are you with Excel?

Model answer: Very. VLOOKUP and HLOOKUP, IF, INDEX-MATCH, SUMIFS, COUNTIFS and pivot tables, along with filtering, formatting and building data simulations. In finance Excel is the working surface for almost everything, so it needs to be practised rather than listed.

Tarun's Advice for Freshers Entering Finance

He gave six points, and they stand as he said them:

• Learn practical skills, not just theory. Excel, financial modelling, research — they matter.
• Don't worry about the starting salary. Worry about experience and learning.
• Take internships. They teach you more than college does.
• Be open to referrals, rejections and interviews. Keep going.
• Reduce screen time and mobile addiction — especially if you are aiming for floor jobs in finance, where the working day does not accommodate it.
• Reach out to mentors. He credits seniors, friends, and Vishakha, who guided him through the process.

Full Podcast Transcript

The complete conversation, unedited.

Frequently Asked Questions

Is Jobaaj Learnings genuine, or is it fake?

This page documents one recorded case: Tarun Shindai, a science graduate with an MSc and MBA, hired as a Financial Analyst at EClerx in Pune, working in Asset Servicing on a Morgan Stanley account. He describes his interview rounds in detail and states plainly that the fresher package is not high. See the wider review set on the reviews page.

Is an MBA enough to get into investment banking?

Not in Tarun's experience. He holds one and says it taught mostly theory — the practical skills interviews tested him on, particularly Excel and financial modelling, came from the programme rather than the degree.

What was the EClerx interview process?

Three rounds in a single day: an introduction round, an HR round covering AML, KYC and assets, and a tough manager round testing communication and composure. After selection there was a take-home test covering English, logic and aptitude.

What salary does EClerx pay freshers?

Tarun does not give a figure, but says directly that EClerx does not offer high packages to freshers. He took the role for the learning in Asset Servicing rather than the pay.

What does Asset Servicing involve?

Handling client transactions, dealing with custodians, and working with securities including bonds and derivatives — the operational side of capital markets. Because of the data involved, the work is on-site on a secure floor with restricted access.

Can a science graduate move into finance?

Tarun did, from a BSc in Chemistry, Zoology and Botany. What made the difference, on his account, was applied skills — Excel, financial modelling and equity research — rather than the degrees themselves.