In this blog, we bring you a success story from one of our placed candidates, Rishi, who participated in our Investment Banking program. Rishi, a fresh graduate, successfully landed a role at a reputed investment firm, The Oxan Partners, through our platform. In this podcast, he shares his experience with Jobaaj and how we helped him navigate the process. Let’s dive into his journey.

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Podcaster:
Hi, basically Rishi, in this video, I just wanted to know your feedback on how Jobaaj helped you get placed in your dream job. Can you start by sharing a little bit about your educational background and then we can move forward to discuss your experience with Jobaaj?

Rishi:
So, I’m from Delhi. I did my BCom Honors from Zakir Husain College in Delhi and graduated in 2022. After that, I started pursuing my CFA Level 1, which I completed in 2023. I went on to finish my CFA Level 2 in January 2024. During my preparation, I also did some freelancing to gain real-world experience.

Podcaster:
Great! And how did you come to know about Jobaaj?

Rishi:
I was contacted by a recruiter, and that’s how I found out about Jobaaj.

Podcaster:
Okay, and how was your overall experience? How did they help you with the interview preparation and job placement?

Rishi:
My experience has been really good. The placement team was very supportive. They helped me by scheduling interviews and giving me updates on the interview status. They also provided me with the necessary topics to prepare for each round, which made the process smoother.

Podcaster:
That’s awesome! And can you share which company you were placed at and your job role now?

Rishi:
I was placed at Good The Oen Partners as an Analyst.

Podcaster:
Analyst, great! Did you have prior experience in the analyst field?

Rishi:
No, I’m a fresher. I only had some freelancing experience prior to this.

Podcaster:
Alright. So, comparing Jobaaj with other job portals, what difference do you see?

Rishi:
I think communication is key. I was able to easily connect with the person who was helping me, and the communication was very clear. They kept me updated regularly, which was very helpful.

Podcaster:
Can you elaborate a bit on who you were connected with and how often you received updates?

Rishi:
I was in touch with Vishakha, who was fantastic. She first told me about a role in Hyderabad and scheduled my interview there. After completing two rounds in Hyderabad, she found another opportunity in Gurgaon and helped me prepare for that too. I had one round in Gurgaon, and after that, I got the job.

Podcaster:
That’s fantastic! Is there anything else you would like to highlight or thank our team for?

Rishi:
I’ve already shared the positive aspects of my experience. The team was excellent, very supportive, and helped me a lot in my job search. It’s been a great experience overall.

Podcaster:
And did they charge you anything for their services?

Rishi:
No, it was completely free. I didn’t have to pay anything.

Podcaster:
That’s good to hear! Lastly, if someone were to ask you for job recommendations, would you suggest they use Jobaaj?

Rishi:
Absolutely! My advice would be to prepare well for the interview. Whether it’s an analyst job or any other role, make sure you do your homework, practice the necessary skills, and go into the interview with confidence. Many people don’t take the time to prepare, but that’s key to success.

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

 

General interview questions answered by Rishi during his selection process

Can you explain the difference between enterprise value (EV) and equity value?

Sample Answer: Enterprise Value (EV) represents the total value of a company, including its debt, equity, and any other financing sources. It is calculated as:

EV=Market Capitalization+Debt−CashEV = \text{Market Capitalization} + \text{Debt} - \text{Cash}EV=Market Capitalization+Debt−Cash

Equity Value, on the other hand, represents the value of the company attributable to its shareholders, i.e., the market capitalization. The main difference is that EV includes both debt and equity, while equity value only includes the value of shareholders' stake. EV is a more comprehensive metric to use in valuation since it includes the entire capital structure.

What is a discounted cash flow (DCF) analysis and how do you perform it?

Sample Answer: A Discounted Cash Flow (DCF) analysis is a valuation method used to estimate the value of an investment based on its expected future cash flows. It is performed by projecting the company’s future free cash flows, then discounting them back to the present value using the company’s cost of capital (typically the weighted average cost of capital or WACC). The formula is:

DCF=∑FCFt(1+WACC)t\text{DCF} = \sum \frac{FCF_t}{(1 + WACC)^t}DCF=∑(1+WACC)tFCFt​​

where FCFtFCF_tFCFt​ is the free cash flow in year ttt, and WACC is the weighted average cost of capital. The sum of these discounted cash flows gives the enterprise value of the business.

How do you calculate the cost of equity?

Sample Answer: The cost of equity can be calculated using the Capital Asset Pricing Model (CAPM), which is expressed as:

Cost of Equity=Rf+β×(Rm−Rf)\text{Cost of Equity} = R_f + \beta \times (R_m - R_f)Cost of Equity=Rf​+β×(Rm​−Rf​)

where RfR_fRf​ is the risk-free rate (usually the yield on government bonds), β\betaβ is the stock's beta (a measure of its volatility compared to the market), and RmR_mRm​ is the expected return of the market. The cost of equity reflects the return that equity investors require for investing in a company.

What are the key financial statements and how do they interact with each other?

Sample Answer: The three key financial statements are:

  1. Income Statement – Shows a company’s revenues, expenses, and profits over a specific period.

  2. Balance Sheet – Provides a snapshot of a company’s assets, liabilities, and shareholders' equity at a given point in time.

  3. Cash Flow Statement – Tracks the cash inflows and outflows from operating, investing, and financing activities.

These statements are interconnected. The net income from the Income Statement flows into the Cash Flow Statement (operating section), and any changes in working capital from the Balance Sheet impact the Cash Flow Statement. Finally, the Cash Flow Statement influences the cash position on the Balance Sheet.

What is the difference between operating income and net income?

Sample Answer: Operating Income refers to the profit a company makes from its core business operations, excluding any non-operational income and expenses like interest or taxes. It’s calculated as:

Operating Income=Revenue−Operating Expenses\text{Operating Income} = \text{Revenue} - \text{Operating Expenses}Operating Income=Revenue−Operating Expenses

Net Income, on the other hand, is the bottom line profit, which takes into account all income, expenses, taxes, and interest. It’s the final measure of a company’s profitability and is calculated as:

Net Income=Operating Income−Interest−Taxes\text{Net Income} = \text{Operating Income} - \text{Interest} - \text{Taxes}Net Income=Operating Income−Interest−Taxes

How would you value a company with negative earnings?

Sample Answer: When valuing a company with negative earnings, traditional metrics like price-to-earnings (P/E) ratios aren’t applicable. In such cases, alternative valuation methods like the Discounted Cash Flow (DCF) model or Comparable Company Analysis (CCA) based on revenue or EBITDA multiples can be used. If using DCF, you would focus on projected future cash flows rather than earnings. For companies with negative earnings, it's crucial to look at their growth prospects, market positioning, and cash flow generation potential in the future.

What is a leveraged buyout (LBO) and how does it work?

Sample Answer: A Leveraged Buyout (LBO) is a financial transaction in which a company is acquired using a significant amount of borrowed funds (leverage). The buyer uses the target company's assets and future cash flows to secure the debt. The goal is to achieve a high return on equity by using borrowed capital. The process typically involves structuring the deal with debt financing and equity from the buyer or private equity firm. After the acquisition, the company’s cash flows are used to service the debt.

Explain what is meant by "beta" in finance.

Sample Answer: Beta is a measure of a stock’s volatility in relation to the overall market. A beta of 1 means the stock moves in line with the market, while a beta greater than 1 indicates the stock is more volatile than the market. A beta less than 1 means the stock is less volatile than the market. It is an important metric in calculating the cost of equity using the CAPM model and helps investors understand the risk of a particular stock relative to the market.