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- Are you planning to pursue Chartered Accountancy from The Institute Of Chartered Accountants Of India?
- According to the current rules, you must serve 2 years of articleship under a practicing CA, but for the last year, you can opt for industrial training.
- Here is how to prepare for the interview at top investment banks such as JPMorgan Chase & Co, Goldman Sachs, and Credit Suisse.
Why pursue Industrial Training?
If you want corporate exposure and want to understand how an industry works, then you should pursue Industrial training.
It is a perfect opportunity for you to learn the work culture of corporate companies and prepare yourself for the future.
If you are not interested in doing audits, taxation, or finance can go for industrial training.
You’ll probably get a higher stipend as an industrial trainee, as compared to what you get at a CA firm. It could range from INR 15,000- INR 50,000 per month, depending on your profile and the company you are working at.
As an Industrial Trainee, you can get assignments related to reporting, corporate strategy, and other interesting functions. And there are usually 5 working days a week and fixed working hours.
How to apply for CA Industrial Training
JPMorgan Chase & Co, Goldman Sachs, and Credit Suisse are some of the big names in the investment banking world, and many CA students want to pursue industrial training in one of these banks.
- You can directly apply to them by visiting the company’s website and going to the “Careers” section.
- Secondly, you can check for vacancies on ICAI’s notice board. ICAI also organizes campus placement programs for industrial training.
- The third option would be connecting with people on LinkedIn who are working in these companies. Then ask politely whether they can refer you to their organization.
Register yourself on some job portals as well, such as:
CA Industrial Training Interview at JPMorgan Chase
We spoke to CA Karan about his interview experience at JP Morgan.
The first thing that he mentioned was to get your basics right related to CA IPCC and CA Final concepts.
Interviewers don’t expect you to have advanced knowledge, their focus is to test your understanding of basic concepts.
The interview Structure:
- For JP Morgan you first have to appear for an MCQ-based Online Aptitude Test. They will ask you accounting, finance, or current affairs-related questions.
- If you get shortlisted in this round, you would have to appear for a written test. This test will determine whether you would get shortlisted for the interview.
- Once you clear this, you’d have to appear for personal interview rounds in the end. Generally, there are three personal interview rounds which can be quite challenging.
- Brush up on topics like capital markets, valuations, your previous work experience, what you learned in the last two years of articleship, and also some IPCC concepts.
The typical salary for a J.P. Morgan industrial trainee is INR 5,33,108 per annum.
CA Industrial Training Interview at Goldman Sachs
Garima Kumari gave her industrial training interview at Goldman Sachs.
- She was asked to join a screening call, where they asked her some basic questions.
- After getting shortlisted, she had to face a technical round with the manager. Most of the questions asked in that round were about her articleship experience.
- In the next technical round, they asked her some finance-related questions. She was asked what is a derivative, bonds, factors that affect the price of bonds, external and internal factors that affect the share price of a company, etc.
- Since these questions are mostly part of the CA final syllabus, you can prepare for them in advance.
- The next & final round is a partner round. A few tricky questions were asked, as well as some basic questions.
- In total, there were three personal interview rounds at Goldman Sachs.
CA Industrial Training Interview at Credit Suisse
Rishabh appeared for the industrial training interview at Credit Suisse. He applied through LinkedIn.
Just like JP Morgan and Goldman Sachs, Credit Suisse also has three rounds of interviews.
- After getting his CV shortlisted the HR manager called him for a basic screening, after which he had to appear for an online assessment test. It contained a 60 marks test where almost 30 questions were asked.
- Questions were based on finance and some CA final’s strategic financial management (SFM) concepts.
- He was shortlisted for a technical round where they asked him finance-related questions, as well as some capital market-related questions.
The typical Credit Suisse CA industrial trainee salary is INR 6,04,819 per annum.
Different profiles at Credit Suisse
We talked to CA Rohit Sharma, who worked as an Industrial Trainee at Credit Suisse.
He was part of Legal Entity Standard Reporting, which is related to providing financial services.
His work included reporting balances according to the US GAAP and Swiss GAAP accounting standards on a monthly basis. For every quarter they had to make a balance sheet.
When asked about the other roles CA trainees could get into, he mentioned that there is also a profile known as Legal Entity Accounting and Review. It mostly includes journal postings.
There are also some job profiles related to product control, value at risk (VaR) analysis, etc.
He said that working with Credit Suisse is altogether a very different and new experience.
FAQ
Q. How long is industrial training in ICAI?
The term of industrial training may vary between nine and twelve months during the last year of the practical training.
Q. Which companies provide Industrial Training?
Industrial Training can only be offered by businesses that have received approval from the Institute of Chartered Accountants of India. The Institute’s official website lists organizations that can provide industrial training to CA students.
Q. How many leaves are allowed in CA industrial training?
Usually, a study leave of 2- 3 months is expected. But it would be the individual company’s decision after all.
Q. What is the stipend Goldman Sachs offers a CA industrial trainee?
A CA industrial trainee’s salary at Goldman Sachs India is around INR 6,00,000 per annum.
Q. What is the stipend JPMorgan Chase offers a CA industrial trainee?
The typical salary for a JP Morgan industrial trainee is around INR 5,33,108 per annum.
Q. What is the stipend in Credit Suisse offers a CA industrial trainee?
The typical Credit Suisse CA industrial trainee salary is around INR 6,04,819 per annum.
