Lecture on Industrial Training and Its Impact

Jun 27, 2024

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Key Takeaways from the Lecture on Industrial Training

Introduction

  • Presenter: Kushal, addressing Ankush, Tanvi, and Prasanna.
  • Focus: Importance and impact of Industrial Training and CA (Chartered Accountancy) journey.

Importance of Industrial Training

  • Enhanced Exposure: Industrial training provides immense exposure beneficial for future career growth.
  • Key Companies for Training: BCG, DBS Bank, and Motilal Oswal Private Equity.
  • Mistake Acknowledgment: Missing out on industrial training was termed as a significant mistake.
  • Career Benefits: It immensely benefits one's career, offering roles in sectors like credit analysis, management consulting, and private equity.

Presenters' Background and Roles

Ankush

  • Training at: DBS Bank, Mumbai.
  • Role: Credit analysis of banks, NBFCs, and insurance companies.
  • Background: Ranker in CA Foundation.

Tanvi

  • Training at: BCG.
  • Role: Management consulting, solving business problems, cost-reduction, revenue increase, product launches.
  • Background: All India Rank (AIR) 42 in CA Foundation.

Prasanna

  • Training at: Motilal Oswal Private Equity.
  • Role: Evaluating investment opportunities in private companies, ticket size of 200-500 Cr.
  • Background: Ranker in CA Foundation and Intermediate.

Transition from Articleship to Industrial Training

Articleship Journey

Ankush

  • Firm: KPMG.
  • Work: Statutory audit, primarily for Thomas Cook India Ltd.
  • Challenges: Monotonous work, increased workload for new learning opportunities, impact of work environment on efficiency.

Prasanna

  • Focus: Determined to specialize in M&A Taxation (M&A Tax). Role involved tax advisory during mergers, acquisitions, and private equity taxations.
  • Interviews: Included rounds with firms like L&T and KPMG, focused on technical questions and theoretical knowledge.
  • Experience: Hands-on engagements in private equity funds and transaction advisory.

Tanvi

  • Firm: VDO India LLP for Direct Taxation.
  • Work: Focused on finance services, advisories, and litigations. Interest in consulting led to application at BCG.

Transition to Industrial Training

Application and Interviews

  • BCG: Structured, involved case study formats, logical problem-solving, and practical exposure.
  • DBS Bank: Practical questions involving market scenarios and personal fit assessment.
  • Motilal Oswal: Financial concepts, investment theses, and discussion on current market positions.
  • HUL: Included structured technical and logical questions as well as practical on-ground scenarios.

Importance of Network and Platforms

  • Active participation on platforms like LinkedIn is crucial for finding industrial training opportunities.
  • Networking with seniors and peers, as well as engagement in industry-specific groups, helps in staying updated.

Industrial Training Benefits and Points to Note

Benefits

  • High Stipend: Some roles offer stipends up to 1.5 Lakh INR per month (e.g., BCG).
  • Practical Knowledge: Real-world experience and knowledge application in financial sectors, investment firms, and consultancies.
  • Career Acceleration: Bridges academic knowledge with industry practices, beneficial for long-term career growth.

Points to Note

  • Study Management: Balancing industrial training and preparing for CA exams requires time management and clear communication with managers.
  • Flexibility: Some firms offer flexible working hours or work-from-home options aiding study schedules.
  • Networking: Hostel life and professional interactions provide significant networking opportunities, enhancing learning and career prospects.
  • New Scheme Advantage: The new CA scheme offers the option of completing articleship in two years (one year of articleship, one year of industrial training) with an additional six months of study leave.

Experience Sharing and Fun Aspects

Hostel Life

  • Networking Hub: Extensive networking opportunities with peers from diverse profiles (IB, PE, consulting, etc.).
  • Support System: Seniors provide guidance on managing workload and study schedules.
  • Fun and Masti: Birthdays and celebrations add a fun dimension to hostel life.

Industrial Training Stories

  • Challenging Interviews: Industrial training interviews range from technical knowledge testing to assessing problem-solving abilities and logical thinking.

Conclusion

  • Prioritization: Achieving a rank in CA exams should be prioritized but leveraging industrial training for career acceleration is crucial.
  • Balancing Act: Proper planning and management help in balancing study and industrial training.
  • Future Prospects: Industrial training enhances career opportunities, making it a significant aspect of the CA journey.

Final Advice

  • Stay Updated: Keep yourself updated with economic trends and market developments.
  • Prepare Well: Focus on CA studies alongside industrial training to ensure a balanced approach and successful career.

This lecture provided in-depth insights into the significance of industrial training in the CA journey, sharing personal experiences, and practical advice for aspiring students.

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