JPMC

The process consisted of resume shortlisting, an Online Assessment, Group Discussion, two interview rounds and an HR round. The OA had 45 MCQs in 45 minutes and covered Corporate Finance & Accounting, Market Awareness, Quantitative Aptitude and English. Finance topics included inflation, repo rate, financial statements, ratios, bonds and GDP, while Market Awareness focused on current finance and business events. Quant covered topics such as AP/GP, probability, permutations and combinations, ratios, profit and loss, time and work, speed-distance and SI/CI. Out of 67 shortlisted candidates, 55 progressed to the GD. The Group Discussion was based on a business case involving increased global shipping lead times and costs affecting a company with online/offline sales and overseas inventory sourcing. It was not a typical open GD; panelists asked specific follow-up questions and candidates had to provide relevant, structured opinions and solutions. The focus was on understanding the business problem, considering its financial impact and suggesting practical strategies. Out of 55 candidates, 29 were shortlisted for interviews. Interview Round 1 was heavily focused on finance and accounting fundamentals. Questions included the three financial statements, depreciation and its impact on the income statement and cash flow, recent market activities and IPOs, repo rate and inflation, the role of an investment banker, India's GDP, Sensex and Nifty, PE ratio and Enterprise Value. There were also scenario-based and tricky accounting questions, along with mental-math questions. Interview Round 2 focused on investment banking, valuation and cultural fit, including DCF, WACC, beta, when DCF should not be used, other valuation methods, EV/EBITDA, EV/Sales, PE ratios, M&A, recent M&A deals and failed mergers. The HR round was more conversational and focused on introduction, motivation for entering finance, understanding of the investment banking role, minor subject, learning experiences from case competitions, knowledge about the company and general behavioural questions. Overall, the process strongly emphasized finance/accounting fundamentals, market awareness, valuation concepts, investment banking knowledge, current business events, communication and the ability to discuss business situations clearly and confidently.