Ok, the first experience from the Marketing Guru and the next one comes from our Finance Honcho (she's a Systems champ too btw). The following is a Gyaan session from Anuvalli, one of the most sincere students in campus. Enjoy!
IMI Campus, New Delhi: CitiCorp final shortlist was being announced; the first name called was mine. The entire world went suddenly silent. Everyone around me was shaking my hands and my lips were mouthing the words thank you by themselves. There was a wave of relief seeping thru every fibre of my body and my only thought then was that I don’t have to face the MCKC interview now.
There is no hard and fast rule to crack final placements except for this one thing- preparation, preparation and preparation. Well, If u thought you could just walk in there and bag that 50k+ p.m. job, sorry to disappoint you that’s only for the dreams. It’s better to shoot yourself with a gun rather than attending a placement final selection process without any preparation. Forgive me for being blunt, but that’s how important and necessary it is.
And yes the preparation word being repeated thrice was deliberate. The way I see it, the preparation before a final placement has to be on three fronts. However there can be many ways to prepare. This is what I had used and has worked for me. U got to start preparing at least a month before the first company comes to campus.
Prep 1- General AwarenessAlmost all companies conduct a Group Discussion procedure, which is always elimination round. Most often the topics are general and in some select occasions, ITC for instance, u have case study. By the time of the placements, u would have analyzed enough case studies to know how to handle one, so am not commenting on this. As for the general topics, there are two areas: global issues and local issues.
Global issues – I recommend that you read “The Economist” for these. Reading even the first main article of the e-edition every week for 10 weeks (or at least 5 weeks i.e. a month) is sufficient to make you aware of most global issues. Don’t think this is not needed, Progeon’s GD topic was – “Lessons learnt from the EU”.
Local issues – The Economic Times (or substitute it with any business newspaper) is a must. Even if ur not a finance major you still need to read this. Understand that when a company is looking at hiring people across specializations, they have a common GD process. Why, a company like Tata Motors, which was looking at Marketing and HR specialization, gave a GD topic on the sensex. Only you are to be blamed for missing a good marketing job, just because the GD topic was ‘fin’. So start reading the ET everyday beginning from at least a month before the placements begin and of course while the companies keep coming.
You don’t have to read the entire paper; just reading the editorial pages are sufficient for GDs. It is difficult to form an original opinion on whether the sensex will cross the 12000 mark or not, however you can always borrow others’ opinions and its opinions that the editorial pages offer u. Reading the editorial pages of any daily newspaper is sufficient to make u aware of most of the other local issues.
While reading a newspaper article, imagine it as a GD topic. Note the different points being made on that topic. Try to remember around 4/5 points at max on that topic. Most often just one line in a paragraph would capture the entire essence of the point being made. By heart that line, say it aloud as if you are making that point in a GD. It will help u to recollect it quickly. It is important to remember that line, for most often u would get to speak only one sentence in a GD or only one sentence out of the whole lot u have spoken would have got you through, for that would have been one of the few sensible sentences spoken on that topic in the whole course of the discussion. So look for these nuggets and one for each of the 4/5 points is all it takes for u to crack that GD for sure.
As for GDs with HR type topics like do MBA’s make good managers (Yes! you get such topics too) etc, trust your common sense.
Prep 2- FundasWhether you are a fin/marketing/HR/systems/operations major, u have to prepare on your fundamentals. This is the main reason why you are asking the company to hire u, so u got to be strong in you basic concepts. Since I am a fin major I can only talk on how to go about preparing on finance fundamentals. I am sure later posts would cover the other majors.
-----Fin Majors--------
FM1 and FM2 course preparation is a must. If you don’t have Brearly Myers, get it ASAP. Reading as many chapters (5 is the bare minimum) as possible is necessary. U can follow any other fin book u want, in addition, to BM and not as a substitute to it.
When interviewers pose u fin questions, they expect u to give specific answers and sometimes even words. You are sure to get these answers in BM. This is why BM is the best book I recommend to you.
When u read BM don’t skip any topic covered as unimportant or slacken your concentration. The most commonly asked question was whether NPV is a better measure or IRR? BM gives you 4 reasons as to why NPV is a better measure. I’m sure if u had read that analysis the first time, u would have never thought it important to remember. So please give importance to every issue being covered.
None expects u to be a Brearly or a Myers. They only want to test your clarity on the fundamental concepts. For instance, when they ask u what are the ways in which u can value a company, someone who says “net worth, DCF, market capitalization (etc)” to some one who says “ there are many methods, but broadly they are on three basis- asset based, income based and market value based. The most commonly used method in asset based is net value at market price or at book value; in income based DCF is used and market value based it is market capitalization. P/E ratio etc.”, who do u think is going to be selected. Notice that the answer in both cases is the same but the difference is in the clarity. Comes from preparation and nothing else.
You also need to prepare on one of the fourth term fin elective. Sometimes companies ask u which is your favorite fin paper. You should have an answer and being a fin major it is ideal to choose a 4th term elective rather than saying FM1/2, but nothing wrong in saying corporate finance. Prepare quite extensively, ur expected to have considerable knowledge on this paper for its you favorite.
When you have an interview in a few days time, I suggest u read the summary of BM chapters to refresh your memory. Also there are many online fin tutorials by many foreign universities that will in few minutes help u cover the fundamentals and give u the clarity on those concepts, use them. Do read the glossary to get precise definitions of important terms.
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Prep 3 – Personal Questions.You need to prepare on these questions, don’t think u would answer them off hand when asked. At that time u would hardly be able to come up with anything that sounds good. It is easier to prepare on this front.
To begin with collect as many commonly asked personal questions as possible (may be one of the future posts could be this). Think of an answer for each one of them. Imagine yourself to be the interviewer, ask if an interviewee gives that answer would it sound convincing and good to u. Edit and re-edit the answer.
Whether u prepare on any question or not, u have to prepare an impressive response for ‘tell me about yourself’. This is the first question asked in almost every interview and this is the best question they can ask u. This is your moment to tell the company everything u want them to know about you, make the most of it. It’s your chance to create an image for yourself in the company’s eyes, so work on it. I know people who customize their answer according to the company and the job profile. This is also your chance to say why you think you have an edge over everyone else, indirectly. So please do prepare.
And yes, being honest is the best thing to do. You have to state the truth, but not necessarily the whole truth, that’s as per your convenience. Just avoid lying.
Some General Gyaan.I’m taking the liberty to give a little more gyaan. To begin with, u don’t necessarily have to bag the first job that comes on campus nor the first one u sit for. But what is important is that u take each experience as a lesson. When ur not selected, think about the entire process, think what according to u went wrong. Then think of what could have been done to prevent that and work on it so that it doesn’t happen the next time. U have to do this everytime u have not been selected. There is no other way u can get better. If u feel nothing has gone wrong and that u should have been among the ones selected, don’t lose heart, u have to convince urself to the fact that u just did not match the company’s profile and there is nothing wrong with you. But of course this can’t be the reason every time, u know that. However if u have not made it, don’t worry. Just think which is the next company and start preparing for it earnestly. Never slacken ur pace, no point crying over spilt milk.
Want to end with what a friend of mine told me, which has given me great confidence every time I faced the process, ‘remember the company needs u more than u need them’. Rock placements!! All the best!!
Copyright (c) Anuvalli H. All rights reserved.
