IIM Ahmedabad Interview Experience

IIMA Experience.

Essay

Topic “ Indian society too short-cut centric” or something like that.

Rough page given. Not used. Also, don’t if you are a fluid writer. Essay was pretty decent. My hot streak in GD/Essays continued. Gave 2-3 examples. Finished well before the 10 min. time limit. Looked around, people were feverishly scribbling around.

PI

Prof P1 : The one who raped me on Acads

Prof P2 : Asked co-currics and extra-acads.

P1 : So, Srinjoy, what was the hot discussion outside ?

ME : Nothing much, just explaining some Bong stuff to people outside.

P1 : So, Kolkata, eh ? Srinjoy from the City of Joy.

ME : City of Palaces too, Sir (Not wanting a philosophical discussion on happiness, life etc. Trying to divert)

P1 : So Civil Engineering ? Do you like Civil ?

< TROUBLE  >

ME : Yes, Sir. Pretty interesting. (Why do you think, I’m here if I liked Civil so much ? )

P1 : Okay favourite subject.

My next answer would prove to be my nemesis. Huge mistake on my part.

ME : Solid Mechanics.

Solid Mechanics is interpreted differently in Civil and Mech. The Prof had Mech background and the ripping apart started. I had meant to say “Strength of Materials”. Digging graves, yours truly.

P1 : Okay, so look at this bottle. (Mineral water bottle). Note closely the vertical seals which get broken, when I open it.

P1 :Okay ?

P1 : What are the forces acting when the seal is broken ?

ME : (Jumping up ) Torsional Forces !!

( Totally wrong. Torsional forces act on rotating bodies not the vertical members. )

P1 : Just that ? (Playing around)

ME : Yeah Shear Forces, since area is parallel to direction of force.

P1 : What ? How ? Which area ?

(Again right force mentioned, but wrong reasoning)

ME : Fumbling around.

P1 : Draw the member and show me the forces.

ME : Draws and show the direction of forces.

P1 : Why forces in both directions ?

ME : Components in X and Y directions ?

P1 : What are they called ?

ME : ??? (No idea) Repeated Shear forces.

P1 : Okay what about the middle part ? What causes the bending ?

Me : Bending Forces. There’ll be a bending moment due to the Shearing effect. (Correct)

ME: Just like in a span of a bridge…

P! : (please stick to what asked, not bridges)

Yaar, Civil Engineer hun.  Maine kabhi bottles ko uss nazar se dekha nahi !!

ME:  Okay the bending forces will create a crack in the middle. Sheared off and hence seal broken. (No idea if what I said was correct, at all )

P1 : Okay draw a rigid beam. Apply a force at a point 60% from one side.

Me : done

P1 : Tell me the forces acting on the fixed ends.

ME: (Blanked out) Can’t remember !!

P1 : Nothing to remember. Just look and say.

(Actually there was a formula for moments. I am not sure if the forces was to treat it as a simply supporterd beam)

Me : Totally stuck. Draw some arbit directions.

P1 keeps confusing me. I change stances. Draw arbit diagrams.

P1 : Okay draw a hinge and its FBD. Beam on its ends with forces in the middle.

ME : Totally fumbled. Never heard of FBDs in hinges. Draw moments.

P1 : there’ll be a moment in the hinge ?

ME : Nope. Sorry my bad. Free rotation.

Continue drawing some arbit forces. All over the place. Horrible mess.

P1 :  So now that you have drawn forces. Acc to Newton, Force is mass times acceleration…..

ME : ( Know where this is going ) No sir, there will be resistive forces as well….. blaberring ….total mess……. Stuck………Ominous silence …… etc.

P2 comes to life and comes to the rescue.

P2 : Okay, Srinjoy leave that. You worked under X at IIMA last summer on Y. (Has gone through my certificates in detail )What was your sources ?

Me : Science direct and some other research papers. I was given an account by X.

(Truth : Was given an account. Never used it. Wiki-ed everything and wrote in my words )

P2 : What is the status of the paper ?

ME : Explained. Gave reasons. Cost analysis left, for which need to visit stations. Etc.

P3 : What was your conclusions ?

Me : Explained the technology used in India, etc. Why we do this, that etc.

P2 : This toh, we all know. What were your findings ?

ME : Explained in detail. (Only silver lining in an otherwise bleak affair)

P2 : You invest in equity and derivatives ?

Me : Only Equity Sir.

P2 : Explain parameters.

ME : Explained in as much detail. Parameters. Ratios.  Market Sentiments etc.

P2 : Market sentiments as in ?

ME : Explained reaction. Indian Budget Effect . Libya Oil Crisis. (Not much airtime, short answer)

P2 : So advise me to invest in two sectors.

Me : Banking and Infrastructure. Explained economic outlook over the next year. Added possibility of FDI influx in infra due to relaxed norms in infra. New Banking licenses by RBI to boost banking. Gave example of Yes Bank, India’s fastest growing NBFC.

P2 : So whats the other form of analysis ?

Me : Technical Analysis.

P2 : How do you go about it ?

Me: I don’t trade on price action, Sir. There are oscillators and MACDs I don’t really understand in detail, so don’t venture into such a strategy etc.

(I have a basic knowhow on these, and do actually trade on momentum drives based on SMAs and EMAs but was low on confidence at that point)

P2, P1 : Okay. Thank you.

Thanked and left. Completely flattened.

Extra-acads went superb. IIMA intern also answered well. No questions on my startup, kinda depressing. Acads was horrible. Bloodbath, ripped apart.

Very less chances. IIMA has a reputation of stressing on acads, as you all know. If a miracle just happens, will be solely due to my IIMA profs good review, which P2 read, otherwise will be a hot day in Norway, if this converts. No hopes.

Please give me your reviews as comments etc.

Thank you for reading.

Edit:

As predicted, A dinged me. Perhaps, screwign up acads in an A interview is severely dealt with. A lot of my friends have missed out because of this. In my case, it was ridiculously unfair. It was pretty much basic mechanical engineering, and I wouldn’t have known most of it, even if I were a ten pointer (given A’s obsession with acads). The fact that an IIMA intern and a paper published there couldn’t help my cause is pretty depressing.

IIM Calcutta Interview Experience.

GD was stupendous.  Gave a lot of examples and original ideas. Spoke the most. Helped others.

PI

Three Panel Members. I was in Panel 10 (For those of you at ML, Beng on the 8^th Morning)

The room was dimly lit. Almost too dimly lit to make you feel sleepy. But after a stupendous GD I was all fired up and ready to face/defend whatever was thrown at me.

One was the alumnus. The one who had ‘nerd’ written all over his face. Must be an investment banker since he entirely diverted my hobby into a full on discussion on finance and investing. He was trying to sound very disinterested and tried to put up a stud-like attitude. (Smart-ass : SA)

Middle Prof , seemed Bengali, very well articulated flow of language, clear and crisp in questions, ready to help. (clarify the questions as in) (Serious Guy : SG)

The last prof who helped in moderating the GD, mostly remained silent but was enthusiastic whenever he asked questions and kept smiling all the time. Bengali, surely, from his accent. ( Enthu-prof : EP)

After the customary Good afternoons, I was seated in the middle. Lots of glasses and snacks on the table.

SA starts.

SA : So looking at your form, I believe you are a risk oriented guy. Why do I say that ?

Me : Because of Entrepreneurship and Equity-trading.

SA : How much have you invested in stocks ?

Me : Blah, blah.

SA : Returns ?

Me: Blah-blah. Mentioned recession lost money then again upsurge in Indian Markets.

SA: No leave all that. From start till end. Portfolio appreciation.

Me: Said

SA : Your general strategy ?

Me : I keep 60% large caps as fixed, and 40% I trade on a rolling weekly basis. These may be whatever I find interesting, or which shows particular momentum etc.

SA : So what all do you consider ? U mentioned fundamental analysis. Leave aside all PE and other ratios. Other than those.

Me : Market sentiments, news, external factors, political stability.

SA : Oh, really ?

SA : We shall come back to trading later. Lets start with your startup.

SG : What is it about ?

Me : said in detail about the business model, basics of operation etc.

SA : I dint really get that. Who are your clients/target ?

Me : Explained based on two divisions.

SG : Okay .. Tell me is it profit or non-profit ?

Me: Profit, but it has the social aspect of eradicating poverty etc.

SG : How do you make money then ?

Me : Explained the two-pronged revenue scheme.

SG : Okay. Tell me the division of total revenues from both.

Me : 60% and 40% explained my reasons.

SG : Where did you get the data from ? Don’t go on about the idea. Just tell me about your data source for target audience, your estimates etc ?

Me : Explained the two main sources of data.

<SG seems satisfied>  SA meanwhile is hell bent on taking my case.

SA: Tell me a good reason why it might not work out.

Me; Explained the challenges in getting the database built etc. (Handled this numerous times during my Bplan ppt, so was pretty easy)

SG : Did you analyse your market competition.

Me: X does the same thing with a narrow based model. Explained difference in approach. Etc.

SG : X operates in ?

ME; Old Delhi

SG : Your startup ?

Me : Gurgaon ?

SG : So locking horns ?

Me : Yes Sir at one point our paths will intersect.

SG : Give me three bullets what X has done wrong and you intend to implement it when you go afloat.

Me: Gave 3 solid reasons. Well prepared.

SA : Lets talk about your equity investments, then.

Me : ??

SA : Heard of portfolio modeling ?

Me : ( WTF ? ) No

SA : So you dunno what PM is and you have been investing in equity for Y years. Fantastic.

Me : Sir, I understand and I do diversify my risks across various sectors to minimize chances of major losses. (Guessing the definition as I speak)
EP  comes to life

EP : So why do us Indians don’t go for stocks instead of fixed deposits ?

Me : Sir, it is a matter of mentality, the savings mentality that we Indians have

EP changes expression. I change my line of reasoning.

…. Also, the time you need to invest to take care of your investments is very limited for working professionals. So the safer option is FD.

EP : Yes, it’s a problem even we professors of Finance have. <smiles> But why not go for bonds. What is it about stocks that prevents us the most. ?

ME : The risk !!

EP : Risk, eh ? Define Risk.

Me : (Give a totally lame definition.)

EP : No think and say.

Me : Risk in this context is the probability of you getting you capital invested back with an ROI.

EP : ROI ?

Me : (defines ROI)

EP :So time is an issue with trading eh ? What would you advise me ?

ME :  Go for mutual funds.

EP : Again, risk !!

Me : (stuck) safer bonds etc…

SG : So how often do you trade in a week ?

Me : Depends on market activity. Flat markets 1ce/2ce a week, otherwise 3 times a week.

EP : How many times did you trade in the last month ?

Me: 8-10 times.

EP : Gimme names.

Me : Biocon, Yes Bank, Indian Bank, DLF, Syndicate Bank, IFCI etc.

EP :Tell me the brokerages you paid for them.

Me : ( Do some mental calculations of brokerages and tell them.) Fairly correct.

EP :No tell me individual brokerages.

Me: Told. (Might be wrong)

SA : Tell me Biocons price at whch you sold ?

Me: 350 odd.

SA: Over the past month ?

ME : Yeah (spot on, I sold Biocon at 356 but in late January, since then it has fallen to 320 odd)

SA : You talk about market sentiments a lot, What is that ?

ME: Said Libyan crisis may affect oil stocks ?

SA : Which all ?

Me : ONGC, IOCL (Might be wrong, on dangerous territory here)

SA, SG looks on suspiciously

Me: Due to the crisis, Brent Crude prices have soared and hence, market sentiment on these scrips will be negative, since these will affect expected revenues, unless they have hedged oil prices before.

SG :Are you sure ??

Me : Yes Sir.

SG : What else ?

ME: Political instability. DMK Cong split might send the prices falling.

SA : So lets say, SBI will its prices go down today if DMK announced split ?

Me:  SBI as it is , it is overvalued, looking at its fundamentals….other factors…

SA : No stop, just due to this cause, how much will SBI go down today ?

ME: Market sentiment will be weak, all stocks will take a beating …so will a large cap like SBI

SA :Gimme a number.

Me: Thinking …… 3% fall.

SG : Will you put your father’s saving into that advice ?

ME: If my research is positive I will.

SG : No, will you short sell ? You know short selling right ?

ME: Yes, but I don’t go short. I always go long.

EP, SG  : Why Why ?

Me : I tried shorting in day trading a few times, dint work out…so don’t do it anymore.

SG : But if you can go long, you can go short easily ?

Me : Sir, it’s a matter of confidence now. I just don’t do it.

SA : So do you look at detailed annual reports ?

Me: No sir, I just follow the condensed format, since trading is just a hobby I am happy to follow it in a limited way.

SA: So you don’t know what is portfolio modeling, don’t read balance books in detail.

ME: Tried to explain importance of ratios, liquidity etc, but In vain.

SA :So what if people buy the stocks at the right price, you are one day late and left behind.

ME: Even between the optimum buying and selling points there is enough space to make profits if you take on the right momentum drive.

EP : What is that beta you talked about ?

Me :No sir, I said price/book value ratio, not beta.

EP :I heard beta.

ME : Anyways, I can explain. Took two examples 1.1 and 0.49 and explained how each will follow Sensex or vary from it.

EP : So which is higher ?

ME: 0.49 will show more volatility. As it is further from 1.

SA : Okay, so tell me about your project at IIM Ahmedabad ?

ME:  Told, as much as I could.

SA :No briefly !!

ME : Said.

SA : Conclusions.

ME : Explained why certain technologies cannot be implemented in India now due to huge capital requirements etc.

SA: Okay, we are done.

Thanking everyone, smiles appearing. SA was busy with his notes at all times.

I later came to know it was the longest interview of all IIMC ones at my batch. 35 minutes. Too long. My throat was dry to the core.

They remained skeptical at all times. But were listening and always let me finish my sentences.Was it a stress interview ? I don’t know.

Edit : Beta Answer totally wrong. My answer is actually a popular misconception.

So much probing on my hobby was kind of unfair.

SBI answer correct, while the oil prices answer might be a bit shady.

Also, hoping they understood my business model properly and the revenue schemes. MArketing is is the focal aspect of my startup and I wish SA had allowed me to explain the 5-point programme I had so carefully designed.

Edit :

IIM Calcutta Converted… They don’t say “the more you get raped, the better are your chances”. Also, maybe they did like the versatility and risk taking appetite in my profile. I still remember “Risk-oriented guy, huh ?”.