Amal Prasad
Mathematics and Computing (Dual)
Placements
JPMorgan Chase
Analyst - Quantitative Research
Interviewed by:
Esha Singh
Internships
Placements
20th September 2020
Q
When to start preparing for the Placement season?
I started preparing in midway August after the official TnP notification came and I targeted mostly software and quant companies. My preparation was centred around mathematics, probability and coding practice. After a month or so, the placement tests start gradually which are also helpful for preparation. So basically, I prepared for around 3 months. There were also times during my preparation where I was just sitting idle and was waiting for the test. So maybe one can start a month later than me
Q
Comparison between your intern and placement interviews?
Both the processes are very different. People give internship interviews with very little preparation and knowledge and even companies don’t expect a lot. On the other hand placement interviews are much more rigorous and challenging. Companies expect you to know what you have studied here in 4 years. But with respect to the competition, placements are a bit relaxed in comparison to internships.
For me, I didn’t prepare anything special for internships. I mostly used my previous knowledge of coding and mathematics to get through. Also, the questions were not so in-depth and quite straightforward which one may have seen somewhere. Whereas during the placements, questions were tougher, in-depth and concept based. In short, overall the concepts asked are the same, but internship preparation is intensive whereas placements are much more extensive.
For me, I didn’t prepare anything special for internships. I mostly used my previous knowledge of coding and mathematics to get through. Also, the questions were not so in-depth and quite straightforward which one may have seen somewhere. Whereas during the placements, questions were tougher, in-depth and concept based. In short, overall the concepts asked are the same, but internship preparation is intensive whereas placements are much more extensive.
Q
How did you decide your field of interest? What about backups?
It wasn’t very difficult for me to decide. I have a tech background and also my internship was in JP Morgan where my role as a quantitative researcher was to build quantitative models to predict some trends in the market and the economy of the US. I liked the work and decided that quantitative firms is where something I want to be.
In general, I think people shouldn’t focus on just one type of job. They should have in mind multiple roles. If you are preparing for tech roles, like software or quant, you’ll have lots of options. But for consulting and analytics, only a limited number of companies come to campus and even sometimes prefer if you have a bit of understanding of code and mathematics background. If you decide to wait for your specific job, the process is tedious and the morale takes a hit. So it would be good to have a backup because you have enough time in your hand.
In general, I think people shouldn’t focus on just one type of job. They should have in mind multiple roles. If you are preparing for tech roles, like software or quant, you’ll have lots of options. But for consulting and analytics, only a limited number of companies come to campus and even sometimes prefer if you have a bit of understanding of code and mathematics background. If you decide to wait for your specific job, the process is tedious and the morale takes a hit. So it would be good to have a backup because you have enough time in your hand.
Q
If someone does not get an intern via OCS in their 3rd year, what should they do?
Intern is even more competitive than placement with very specific roles which are mostly in software or quantitative firms. Getting in intern via OCS is good and should be considered as an achievement but that doesn’t mean not getting an intern is negative. So don’t be disheartened. Placements are going to be different and will not solely depend on your internship.
Q
Major problems that you faced?
The major problem was the online manner in which the tests were conducted. Some people didn’t follow ethical practices even though exams were proctored which resulted in companies releasing skewed shortlists. Although it didn’t affect me much because I had prepared well but I believe for some other people who worked equally hard as me but somehow didn’t perform well in the exam were at a loss due to this. Hopefully this problem is constrained to only this year and there won’t be such an issue next year onwards.
Q
Which one do you prefer, online or offline placements? What are your views about the same?
Definitely offline! As I have mentioned before that this was the major issue I faced. People indulge in malpractices in online tests at home. Previously, usually if 60-70% of the questions were solved, the test would be cleared. But this time, sometimes even after solving more than 95%, people were not able to get through.
Q
Necessities for targeting your field?
For quantitative roles, you ought to be very proficient in coding. Apart from that you also have to have a knack for probability and mathematics.
The surroundings here in IIT makes all of us want to do good but keep in mind that this is not the end of the world and your first job is not going to matter much. After some years, most probably you’ll be doing something completely different. The placement process can be very cruel and grounding for some people. Not getting shortlisted after many tests or not able to get through the interviews can take a real hit on your confidence level but keep in mind that this is just a phase and doesn’t define what you are!
Takeaways
