Student Welfare Group




Can you elaborate the selection procedure of JP Morgan?

JP Morgan Global Market Research profile conducted 2 rounds, one was skype based with one of the heads sitting in Mumbai, another one was face to face. Generally, each round lasted for 45-60 mins each. Both the rounds were a mix of HR, CV and CFA/stock market-related questions. They look out for people who have the passion to be in this field. Have a good knowledge about the current affairs. One should also be aware of how different economic relationships are related. For instance, I was asked how the repo rate cut will impact the economy and how INR depreciation would impact different sectors.

Could you list down questions were you asked in the different rounds? Puzzles, technical questions, any other discussion in general that you think will prove to be helpful for students.

My interview started with basic HR questions and the interviewer then moved onto my CV. I was asked to explain my role in each internship in detail. Even though my MSc Thesis was an ongoing project, I was asked extensively about it. In case you have done any work related to economy/sector specific, be thorough with each and every current affair and its impact. CFA related questions: Types of financial statements, walk me through DCF valuation and formulas. How will an increase in WACC impact the value of a firm? If Equity/Debt increases, how will WACC change? Given two firms, which multiple to use P/B, P/E, EV/EBITDA etc. If you are a CFA Candidate, I would suggest you be thorough with CFA L1 and L2 equity section (specifically the multiples chapter from L2 and Valuations from L1) Look out for investment banking interview questions.

Any advice that you want to give to the people sitting for placements in particular JP Morgan this year.

While preparing your CV, don’t exaggerate a lot, even if it is programming languages/software/subjects. In case you write, make sure to defend any sort of question that comes across. Start off with CAT material. Try to enhance your speed. The questions asked during most of the tests are very easy but requires pace. Brush up your statistics, regression, ML, Probability-based questions. For JPM Global Research: Market news, economy related. They asked us to write a 450-word essay on “how to bring GDP growth in India while controlling inflation” For CS/UBS: first three chapters from Jain Iyengar is a must. For EXL: CAT and speed. For Walmart/UBS: Regression, Matrices, ML. Solving as many puzzles as possible always help. It broadens your mindset well before. The puzzles should be on your fingertips. Try solving output based questions (coding) because many companies ask questions related to it during tests. Having a rough idea about functions, arrays, pointers and strings will do. Be confident about the work you did, prepare HR answers well before, cross check it every now and then. All they look out for is your interest and confidence. Even if you have failed somewhere, be humble to accept it. Be confident about your answers. They will try to misguide you, stick to your assumptions, your thoughts, don’t get driven away. Lastly, placement procedure is nerve-wracking. It will test your patience at all times. Be it tests, getting shortlisted in few companies, or being rejected by a company. Always have patience and try to crack the very first interview you get to hold on. You never know when you will get a second chance and whether you will be selected in that firm or not.

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