Hey great thread Jamiroquai! I've been searching for stuff like this for a long time.I have a couple of questions:
1.)How are the selection rounds like ? Do they cull everyone with a percentage/ GPA limit at top B-schools ?
You will have to check as to how they pick people in the selection rounds in India, but I am guessing that the GPA plays a substantial role.
In the US, the GPA plays a role only in a GPA-anal firm like JP Morgan. Other BB's use GPA only as a hygiene factor to make sure that they're not recruiting someone who would be much more suited for brand management / HR.
How technical are the interviews ? ( do we need to know M&I;'s guide and the Rosenbaum book inside out ?). I've read somewhere that we are expected to already know financial modelling before applying.
Rosenbaum's book is amazing in terms of taking you right where you need to be for technical interviews. Believe it or not, I have a copy right here on the table beside me. You don't need to know the stuff cold - but you should have read thru the stuff that pertains to the field you'd like to get into. I've been fortunate enough to meet the guy when I was on Wall Street recruiting with UBS (flexes ivy league muscle
)
Also, it is expected that you know valuation methodologies in order to get in. DCF and the other major ones are dealt with in his book. (Damn, now I sound like I'm selling his book). I don't figuring out how to do a valuation should really be a big deal once you know how your statements connect with each other.
Give the paid M&I; guide a skip and read the website
http://www.mergersandinquisitions.com/ instead - it's way better in terms of information value per rupee spent
2) If you are at a top B-school , but have low acads. will networking through alums help ? How is the networking scenario in India ?
Yeah, am gonna call a rain-check on this one. Am not really 100% on the 'making it' part once you're in a top b-school (and don't wanna BS my way thru questions). However, I do know that its relatively simpler and involves a lot less networking (ass-kissing) than it does in the US, but would involve more of a CGPA role than you might like (coz they're looking to pick up the best)
3) What are the best groups at i-banks in India in terms of so called exit ops. Do big 4 accounting Cos. with advisory services groups offer the same exit ops in India ? (eg KPMG )
Advisory, in India, is played by the big-four accounting firms whose Advisory desks which don't have balance sheet strength to underwrite transactions. They do pretty decent deals in India and are well-respected across the board. This is primarily because the deals are so vanilla and primitive there that you don't really need full-service banks in most capital-raises. As major banks enter the field slowly but surely (it's already started) - advisory firms will take their rightful place at the back of the bus.
But - as of now, they're the best there is, just slightly behind the BBs in terms of prestige, pay and learning opportunities.
When you talk about exit opps - are you talking about PE? In that case, the best there are - are firms which allow you the most prestige - BBs make the most sense in this case, right?
4) Whats the average age of 1st year analysts?
In the US, it's about 22. Three years down, they're either promoted or "encouraged" to go to business school. In India, most of the IIM hires don't have relevant experience and are therefore picked up for Analyst roles. They then have the opportunity to grow into Associate roles.
My background: Non -Engg.About a year in a top 4 US Commercial bank operations (fund accounting).
(we're too f***in ninja for that!)
!!
)
a lot of those jobs are in the firms' Global Resource Centres - i.e. glorified KPOs.