- Hi, I am Saiyam Aggarwal. My long-term goal after qualifying as a CA was to enter the corporate world.
- That’s why landing an industrial training spot at Bharti Airtel was a dream come true.
- In this article I dive into the importance of industrial training for a CA, the valuable lessons I have learned, and interview tips to help you succeed!
Pursuing CA industrial training
Choosing to pursue industrial training is entirely dependent on an individual’s interest.
My reason for choosing industrial training was to explore the corporate culture.
I wanted to learn their ways of working so that I could get an easy entry into the corporate world after qualifying as a Chartered Accountant (CA).
During my industrial training, I got the chance to work in different areas, including Direct Taxation, Indirect Taxation, Appeals, Financial Modeling, and Company Law Matters.
If you are sure of which sector you want to apply for, then doing a proper SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis of the corporation would be a good idea.
I did the same before selecting Bharti Airtel (industry leader, new technologies coming, competitive advantage, and other factors).
What I learned during industrial training
Working in a giant corporation could be a great learning experience for Chartered Accountant interns.
During my articles at a mid-sized firm, I could only use my knowledge to an extent, as we had a limited business size and limited clients.
The majority of our clients were not large corporations. Hence, I did not get the opportunity to apply all the provisions of Direct Taxation or Indirect Taxation or all the standards of audit, thus limiting my growth.
On the contrary, working for a large corporation like Airtel gave me more exposure in all of these areas.
It helped me grow professionally.
How to pick a division to join?
I had decided a long time ago which department I would like to join.
Luckily, Airtel had a vacancy in that department.
Airtel gave me the option of joining two departments. I chose the SVA Department (part of the Finance Team).
When did I apply for industrial training?
- I started applying two months before the end of my second year of articleship.
- I applied to almost 6 companies and received calls from all of them.
- Within one month I received a confirmation from Airtel. It took me 1 month to complete the process for Airtel.
- What one can do is enroll themselves at various chartered accountant job websites like cajobportal.com or charteredclub.com.
- Also, the main source of information is social sites or apps like WhatsApp, as nowadays many job groups run on this platform.
- Who can forget the friends one makes during the journey?
- It is very important to keep in touch with everyone so that all can share different information, including industrial training vacancies.
Cons of industrial training
- Hectic Schedule
- Late Sittings
- Missing coaching classes on a daily basis,
- You never know when the boss might call.
- Less preparation time for exams
Exam study leave
- Generally, the discussion related to exam study leaves takes place during the interview. So, be clear about your needs during the interview.
- However, at times, even though you had previously decided on a 90-day study leave, some important work might show up. And you would have to complete it. So there is no guarantee.
- Furthermore, if you establish good working relationships with your employer and demonstrate your worth, they may be able to assist you in obtaining appropriate study leave.
- I obtained a study leave period of 2 months at Airtel.
- Study leave periods during industrial training are generally unpaid, but it depends on the terms and conditions of each company. So discuss that during the interview round as well.
Preparing for the CA Final exams
- I started preparing for my CA final exams during my industrial training period.
- Corporates have their own set of deadlines subject to the condition, which gives you time to prepare.
- I also used to study while traveling so I could make up for the lost time.
- So, start as early as possible, and do remember that the practice manual is the key to success. One can never ignore it, as the ICAI’s material is always supreme, even though many things written or solutions provided by them are not right.
- I failed once due to ignoring the practice manual (please never do that).
- If you have talent, skills, and knowledge and are ready to do the hard work, anyone would be happy to hire you, even if you cleared the IPCC after multiple attempts.
Allowance for industrial training
- The money is definitely better when one is interning at a big corporation.
- The stipend for an article assistant in a mid-sized accounting firm is really low.
- Generally, the stipend ranges between INR 20000 and 25000, and there is no scope for negotiation in that as this is not a regular job.
- I have never seen anyone negotiate, but many companies like Amazon, and JP Morgan give a stipend of around INR 40k–50k.
- Selecting a division to join is purely based on the career path you want to pursue. Yes, they do give chances to select (subject to availability), but it can also be a trap.
- For example: A friend of mine was attending an interview in finance. During the interview, HR offered him a role in the Tax Team, and he said yes. HR rejected him (possibly) because they believed he lacked a clear plan or wasn’t sure what he truly desired.
- So to each their own, but I would suggest just being honest and clear with yourself and others.
Interview tips for CA industrial training
- The interview at Airtel was not all that tough.
- The interviewers understand that we have limited exposure and conduct the interview accordingly.
- The only thing that matters is your skills, knowledge, and eagerness to learn. If you are eager to learn, they can sense it and will surely hire you.
- But again, only eagerness won’t work; you have to face all the interview questions as well, and for that, one has to prepare for it.
- When it comes to interview attire for men, it has to be a business suit (with a tie).
At Airtel, they had 3 rounds of interviews:
- HR Round: That was quite normal. They asked me questions like, “Tell me about yourself?” “Why do you want to work with us?” “Why do you want to work in the finance team?”
- Technical Round: This was my second round, and here they asked me similar questions as the HR did. However, they also asked me about my articleship experience and what I learned there. They asked me questions testing my knowledge relating to finance and accounts
- Team Head Round: This was the last round, and it was very general with the team head. No technical questions were asked here!
How I prepared for my interview at Airtel
- I got some tips from my friends and teachers. For everything else, Google is king!
- Teachers and friends advised me, saying that whatever company I was going to apply to, I should be ready with the corporate information, which is easily available on the company’s website or annual report.
- They also guided me on how to tackle some of the questions that they could ask during the interview session.
- Lastly, they helped me draft a proper resume.
Resume tips
- In my opinion, a one-page resume is ideal.
- Don’t make it lengthy, as it restricts the interviewer from asking you more questions.
- For example, if you mention everything in your resume and the interviewer reads your entire resume and then asks you, “Tell me something that is not written in your resume? “Then you will be left with nothing.
- So mention only what is needed, and keep the resume simple and short!
Would I recommend industrial training to other CA students?
- Learning is always a big concern in the CA course, so the level of knowledge and experience that one gets in industrial training is far more vast and better than the experience from a mid-sized CA firm.
- For those who want to pursue corporate jobs after becoming a Chartered Accountant, industrial training provides a platform that may help you gain an advantage over others.
- The contacts that one makes during the period of industrial training are priceless.
- I do not recommend industrial training to the interns of the Big 4 accounting firms unless they get an opportunity in the Investment Banking Department or maybe in a department where job openings come by rarely, like hedge funds, treasury, or something along these lines. I hope you get my point.
- I would recommend industrial training only to those who want to get into the corporate world, as the exposure you would be getting in IT is only relevant to the corporate or respective sector.
- Of course, in corporate giants, you learn and develop great communication, networking, and Excel skills.
Some more useful tips for CA students
- Rather than focusing on grades, work on your skills and knowledge because they are the weapons that will help you fight more effectively.
- If you are attending an interview, marks can help you get through Gate 1, but after that, it is your skills and knowledge that will help you crack the interview.
- That is why it is never suggested to go for a dummy internship, as I have seen many dummy candidates clear their CA Final in one shot but struggle when it comes to getting a job.
- HR people are humans. If someone tries to reach them indirectly, he or she might get a negative feeling from that person.
- You can try sending your CV through a company employee.
- Most of us don’t have that big of a network, so for that, start using LinkedIn. You will be surprised at how helpful people are!
- Even if two people from a group of 100 help you, you are sorted.
