Class of 2017, BITS Pilani Hyderabad Campus
CGPA: 9.18
Branch: MSc Economics plus B.E. Electronics and Communication
1. What is your field of interest and what are your current roles and responsibilities at JPMC?
Broadly speaking, corporate finance and business valuation have been my field of interest. Over time I have also developed an interest in social impact, ESG based investing and climate finance.
I work as Equity Research Associate in Equity Research at J.P. Morgan. I specifically focus on companies in the European Metals & Mining sector such as Arcelormittal, Anglo American and BHP. My responsibilities include building financial models for the companies that we analyse, develop valuation methodologies, conduct market research, write comprehensive research reports and pitch our recommendation to J.P. Morgan’s clients (mutual funds, equity funds etc.).
The highlight of my first year in a full time role at JPM, was the opportunity to work in London with my team for 5 weeks. Following that I was given more responsibilities over the next 2 years, which included direct interactions with clients and ability to explore topics such as clean energy finance and climate change. 4 years at J.P. Morgan so far have been full of learnings.
2. How did you choose your career path and how did college play a role in this?
I had started off as an MSc. Maths student in college during my first year but after speaking to numerous seniors and evaluating my interests, I decided to switch to MSc. Economics in my second year. Fortunately, I made the switch with a good CGPA at the end of the first year.
Coding has never been my cup of tea, and as a result I opted for ECE as my dual. As I started my Economics courses, I felt more inclined and interested in understanding the intricacies of finance and economics. While in my 2nd year, I took up a course on equity research by Mentored Research, which further broadened my horizon. By the end of the 3rd year, I had decided that I wanted to pursue a career in finance in the long term. To begin on that path, I ensured that I completed all my courses by the end of the 4th year, which gave me an option to do my PS-2 for the entire of my 5th year.
In 2016 I started my PS-2 at J.P. Morgan where I was allotted the equity research division. Over the course of one year, I had the opportunity to work with teams analysing different sectors – emerging market investment strategy, medical technology, consumer goods, UK small & mid cap and finally metals & mining. I was offered a full time position towards the end of my PS-2.
3. What is a day in your life like?
a. Traveling – Travelling does take up some part of my day considering I am based out of Mumbai. However, once I got used to it, it doesn’t seem like a big hassle. Equity Research as such doesn’t require travelling for work since I’m not based onshore with my team.
b. Work life balance – A lot of people would say that work-life balance in investment banking is pretty bad. I wouldn’t completely agree with that from personal experience. Most teams, including mine, are very accommodative and respect your personal/private life distinction. Of course, equity research isn’t your normal 9-5 job and you typically spend longer hours at work (odd hours sometimes considering the geography you support). I work for an average of 10-11 hours every day, with rare stretches to 1.
c. Perks of working at JPMC/as an equity analyst – I Wouldn’t really term it as glamorous, but one of the best parts of working at JPM is the amount of exposure to various people and geographies that you get. My team itself has members from England, Australia, Russia and South Africa. Another excellent opportunity that analysts get is the chance to work for an extended period of time internationally. I spent 5 weeks in London in 2017 which provided me with a whole new perspective and exposure to a different work culture. An added perk would be the pay, which is higher than the market average for the same role.
d. Social Service – While my usual work takes up almost all of my weekdays, I have made it a point to pursue my other passions during the weekends – one of which is social impact. For a little over 2 years now, I have been volunteering at Make A Difference which works with children in shelter homes. My experience with the organisation motivated me to take up a leadership role this year. As a fellow (city manager) for Mumbai, I now lead a team of more than 100 volunteers.
4. In what ways has college helped you? How did it help you grow personally and professionally and how to make the best use of the resources in college?
College has definitely been a key aspect in my journey so far, where I have developed both personally and professionally.
In terms of personal growth, the first thing that college helped me achieve was the sense of independence and the ability to cultivate responsibility at the same time. I was also able to develop the confidence to network with people, explore different options – both academic and extra-curricular and give back to the college community through clubs and associations. I have learnt a lot from everyone that I have interacted in college – peers, juniors and seniors.
Professionally, the finance electives and courses widened my interest in the area, along with the support of the faculty in the economics department. The flexibility to choose from electives from other departments was also a plus.
5. How did you shape your profile, while in college, for entering into a finance career?
a. Projects – Quality projects that have a practical aspect are helpful. Completing projects take up some time during the semester, so I would suggest taking up topics that you are really interested in. I did two projects while on campus – one on analysing unemployment in India and the second on analysing the effect of events on a company’s share price.
b. Clubs/Deps – Clubs and departments have helped develop my soft skills, networking abilities, team working skills and leadership qualities. I was a part of ELAS, DoSH and Maharashtra Mandal. Extracurricular participation and involvement is also very important when it comes to applying for Masters.
c. LORs – LORs are the most important while applying for Masters. I have tried to maintain a consistent dialogue with the professors whose courses that I enjoyed the most and have reached out to them when I needed advice.
d. CGPA (how important is it) – CGPA does play an important role in shaping your career path. An above average CGPA will increase the number of opportunities available to you. I, fortunately, had a good CGPA of 9.18 at the end of 5 years. A good CGPA shows to companies and universities (if you are applying for Masters) that you are analytical and adept at handling academic rigour. My strong advice would be to not neglect your CGPA – a low CGPA can close many doors even if you excel elsewhere.
e. Important college and online courses – As someone who wanted to begin a career in finance, I focused on taking up finance related electives and courses in colleges. A few that I found helpful were Fundamentals of Finance & Accounting, Microeconomics, Security Analysis & Portfolio Management, Project Appraisal, Derivatives and Risk Management and Business Analysis & Valuation. Apart from that the CFA Level 1 curriculum is useful for those looking to understand basic finance.
6. What according to you are the key skills a financial analyst should have in her/his resume?
a. Soft skills – Strong communication skills, ability to lead and work in teams, strong analytical skills
b. Technical skills – Basic knowledge about financial modelling, business valuation, working knowledge of the current economic condition in various markets
c. What makes one stand out from others applicants – proficiency in Excel, working knowledge of VBA, any knowledge of Python or other coding language is useful. Proactiveness, history of working in teams, good communication skills.
7. How did you go about getting jobs and internships? How did you go about your preparation?
a. Preparation for interviews – Since I got a PPO, right after PS-2, I wasn't required to give an interview. However a few things to keep in mind while preparing for interviews would be – have a working knowledge of key financial ratios, read up on how financial markets are doing currently and which sectors/industries are performing better than others, build anecdotes that will help you answer HR questions.
b. Preparation for tests – For the role of an equity research analyst the two testable aspects companies look for are writing skills and understanding of financial modelling. To develop your writing skills take a financial news item or any company of your liking and write a page analysing the news/company. This will help you better articulate your thoughts. To practice financial modelling, pick up any company of your liking, go through its annual report, understand its account statements and financial ratios. There are numerous courses online that you refer to build a basic model for the company.
c. When is the right time to start – Use your first two years in college to explore as much as possible. Keep trying new things until you find something that you are passionate about. Specifically for finance, 3rd year would be the best time to start building your knowledge base and by the end of 4th year you will have a much deeper insight into the subject. This will also help a lot during PS-2.
d. Any other insights that you would like to give - Start building on your network right from college, reach out to seniors to understand their point of view. I’m personally very proud of the strength of the BITSian community and leverage it to the fullest. Every time I need guidance on anything, there always has been a BITSian who has helped me out.
8. Since we are all going to be home for months, do you have any online courses that you would recommend students aspiring for finance jobs doing?
There are numerous online courses from the world’s top universities on Coursera and the likes. For those who want to delve into finance you can start off with courses on financial statement analysis, financial modelling and valuation, portfolio management and investment theory, how mergers & acquisitions happen, how are deals made. Do try to leverage courses on improving your MS Excel skills ( fun fact: I only use my keyboard to navigate through Excel now). Try to learn VBA and Python if you are interested in coding.
9. Many students are learning to trade and invest while they are still in college, have you done the same? Do you feel that having a little knowledge on stock trading provides an advantage during placements?
Single stock trading and investing didn't excite me in college (still doesn’t to some extent) and so I didn’t actively trade/invest when on campus. However, having a working knowledge about the Indian stock market will give you a leg up during placements for finance roles. Trading in stocks requires a lot of diligence and research, so if you are interested in trading you need to set out time in your day to do that.
10. What advice would you give your juniors who would like to make a career in finance? What were the things you wish you knew/did during your college days that would have helped you now?
Finance is an industry which has numerous sub areas that you can specialize in. When you are looking for job opportunities in the industry make sure that you do some research on the roles available and the qualifications required, and how you can switch from one role to the other in the future. For example, investment banking and private equity focused roles are majorly only open to MBA candidates.
Some things that I wish I had more exposure to during college days would be access to information about the various roles in finance, quality guidance from industry leaders and more finance centric events on campus.
11. What are your opinions on the requirement of coding in the field of finance?
Coding has increasingly become important in the financial services industry. Most companies are looking for coding skills during recruitments. Fintech has seen a rapid increase in demand with JPM itself investing in fintech capabilities with the view of automating processes. With the changing landscape, it has become important to have a working knowledge of a coding language (Python, SQL are the most useful in finance).
Disclaimer: The points given above are the views and steps taken by the individual. They are not fixed steps and guideline to base your college upon. Our hope is to inspire students so they can take the necessary steps here after. We hope you like it!
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