Why an IT professional needs domain competency?

Information Technology is not just about the technology – it’s about understanding the business, which drives the technology. While senior BD professionals talk to the client CIOs and CTOs, you interact with the client’s IT team on an on-going basis.

Clients are not anymore looking for a low cost IT shop! They are looking for IT partners, who can understand and solve their business problems. Therefore IT companies, in turn, are paying much more importance to building teams, with better business domain knowledge, who can speak in the client’s language, ask relevant questions, and understand the project goals completely. The technical knowledge, combined with an understanding of the business domain, makes an IT professional, a well-rounded employee.

Suppose, you are working for a Banking project. The client’s IT team says “As this module connects to an RTGS settlement module, real-time General Ledger updates are a must”. This is complete Sanskrit to you! What are you going to do?

So, what kind of domain knowledge must you build? –

What kind of domain knowledge does an IT professional require? Obviously, that depends on which industries Indian IT typically gets business from.  Here is list of professional courses in finance for IT professionals, based on the revenue breakup of an IT company.

Ø  Banking, Financial Services & Insurance (BFSI)

Ø  Healthcare

Ø  Telecom

Ø  E-commerce

Ø  Retail

You see that BFSI comes first. That’s because the Banking and Finance industry contributes 30-40% of an IT company’s revenues! So this THE best place to start. The other big advantage is, if you are planning an MBA, this domain knowledge will really help – that’s not true of the other domains.

Right. But how to build the required domain knowledge?

Look at the business goal of the project-

Sitting at your desk and writing code in isolation is not a great idea, in the current business scenario. First, try and understand what this project is trying to achieve. Do some reading on what you don’t understand, in every team meeting you have with clients, take notes of business terms, and look up, what you don’t understand.

Do a good certification course –

This is very effective, as it not only reflects in your knowledge and performance but also you gain a certification on your CV. For instance, if your client is in retail domain, a certification in Manhattan Inventory Optimization tool or any BI tool will be very useful. Similarly, if your client is in BFSI (which is the highest revenue generator for most of the IT companies), remember, to get a good certification – which is the US perspective. The National Stock Exchange (NSE) along with FLIP, offers 3 such programs – Capital Markets International, Banking Fundamentals International and Investment Banking Operations – International. Here is a guide to the ‘Best certification courses in banking and finance courses, for IT Professionals’.

Get ready for the MBA admission interview!

Done with CAT? How did it go?

You must now be taking time out – after all the months of hectic preparation for the exam! Aaah! Now to put your feet up, and wait for the results due in January..

Well, you’re just missing the whole point then! Acing the written test, is just the beginning.

Your CV, Group discussions and Personal interviews are the REAL MATCH WINNERS. Only a minority ~ 30% – of those called for the process, make it through the college.

Unfortunately, not many MBA aspirants realize this fact – until they get rejected at one..then two.. or more,  of their dream B-Schools – and then realise, with panic, that their dreams are slipping away..and it’s too late! All because of lack of preparation for the  interview.

This is often the case, even with students having good written test scores.

Preparing for an interview, is not just thinking of the typical generic questions, which do get asked. There are many credible sources online that give you the most popular MBA interview questions – right from Tell me about yourself, where do you see yourself in x years to Which specialization you are looking at taking up. We don’t want to bore you with the same details again.

Instead, we will talk about the other crucial aspect of MBA admissions – Your CV.

Your CV can give you the command to steer your MBA interview in the direction you intend it to. Let’s see how.

1. Highlight your Managerial acumen

Needless to say, the panel is looking for managerial genes while they judge your candidacy. List out all the instances your have held positions of responsibility in your professional journey. From being a part of the college festival to heading a college literature club, list them.

Be specific about your achievements as a part of these roles and highlight any significant contribution you’ve made. Significant co or extra–curriculars, matter, too!

If you’ve made a mark at a District, State or National level in any field of arts or sports, that should be highlighted. It shows that you’re an overall achiever.

2. Showcase Goals and Initiative

Many of us don’t have impressive achievements. Then what? A great way to make up or add to this, is to showcase a preparatory certification on your CV. When the question of specialization comes up and you state your preference – the panel is right away looking for indicators on your CV, to show that you are you have at least thought of your goals. For instance, if you say Finance is your intended specialization or area of interest, you either need to have few years relevant experience or a powerful finance certification, right?

A popular choice is FLIP’s Finance & Banking Fundamentals online certification program. It shows your initiative, and gives you a solid foundation in key finance concepts, financial markets and banking business; ideal for candidates aspiring for an MBA in Finance. 

You can check FLIP’s industry endorsed certifications in Banking and Financial Services

Similarly, if the preference is marketing, a relevant certification – such as list of professional courses in finance will help your case.

Remember – don’t box yourself in by saying this will be your specialization. You can say, “This is what interests me. I’m learning more about it, so I can make an informed choice.”

3. The hobbies!

Many times candidates list out ‘Watching Movie’s & ‘Listening to Music’ or even – seriously – ‘surfing Social Media’ as a hobby! These are ‘time passes’, not something you should have on a professional CV!

Hobbies show your depth and passion – Interviewers respect people who have the in-depth knowledge that comes, from having an absorbing hobby, over the years.

Banking Courses after Graduation

The many-sided quality of business connections makes it important to obtain an abnormal state of preparing in the planning, management, and control of tasks related to accounting, finance, and taxation.  College thinks about in business sciences empower the improvement of these capacities; however there are regions in which the restrictions forced by the educational program have offered ascend to preparing holes. The course joins hypothetical classes, down to earth classes, an individual work and electronic instructional exercises with the goal that the understudies can counsel the questions that emerge amid the readiness of the subject. As always, banking is always seen as a good career. In this way, you can likewise make an incredible vocation in the world of banking and finance by a postgraduate diploma in banking and finance. Today every activity is being taken to connect each town to the bank. Thusly, the saving money segment is venturing up with speed. Openings are additionally being conceived with a similar rate. On the off chance that you need to do managing an account courses in Delhi after graduation, at that point it is critical to have a decent comprehension of money related data and economic situations first. Since there is an exchange of cash in banks and monetary establishments, for this situation, you can take care of issues identified with cash. It is likewise imperative to have solid diagnostic abilities inside you.

For PG Diploma in Banking and Finance, the understudy should pass 50 percent stamps in any subject under the four year college education. Regardless of whether the applicant can contemplate by finishing this standard, understudies are prompted that a similar competitor should tend towards this pattern, whose intrigue is in fund. These days’ individuals are offering inclination to the PG Diploma as opposed to doing two years MBA in this subject. The best bank preparing foundation in Delhi gives a total comprehension of the fund segment. Under the Diploma in Banking and Finance, central saving money profiles, for example, keeping cash, influencing interest to draft and dealing with other managing account capacities are educated. Saving money work, secure record book, corporate credit, venture credit, monetary credit and buyer credit, and so forth among the different banks are additionally arranged under this.  The banking courses after graduation, general society part 30 and 50 private division banks and the budgetary segment are relied upon to work. These incorporate desires of many sorts of positions in the wake of preparing, for example, money related supervisor, bank employee, bill, and record holder. Every single qualified understudy can land administrative positions in these organizations.

This is a region where there is no time restrict for consummation work. Here is the need that the concerned individual promptly comprehends things and there is a capability in that he can comprehend the rationale. To lead best bank preparing institute in Delhi, it is important to breeze through first in the Aptitude Test and furthermore give an individual meeting. It is for the most part inspected in English, logical capabilities, composing, and so forth in the composed examination. It is attempted to know whether the understudy has the fundamental learning or not. Subsequent to finishing the exams, they are told about the temporary job, instruction advance, and so on.  Searching for banking courses after graduation Find variety of unique job oriented courses LearnwithFlip for perfect specialization in banking.

Careers in Banking after Graduation

Banking – as a Career in India

Banking has always been a lucrative career for young graduates. With the push of financial inclusion, new banks coming in and the initiatives taken by the Indian Government to prioritise JAM (Jandhan, Aadhar, Mobile transactions), the Indian economy is exponentially increasing the opportunities, especially for Banking aspirants. RBI has issued 21 new banking licences out of which 11 new banks are already operational. They include two full-service banks (IDFC and Bandhan), seven Small Finance Banks and two Payment Banks.

 Why choose a Banking Sector Job?

The Banking sector offers the best opportunities for graduates, compared to other industries. Even when the overall job creation was low, the Banking sector contributed the maximum towards employment in FY2017 – roughly around 21%. In addition to this, here are some more advantages of a career in the banking industry

Ø  Comparatively high job security, even in the private sector

Ø  Competitive compensation

Ø  Good social standing

Ø  High growth sector

 How to get a job in the Banking Sector?

For a graduate, there are various ways to start a career in Banking. The most popular & aspirational route, is to join a Public Sector Bank (PSB), as a Probationary Officer (PO).

Before we look at the ‘How’, let us quickly see What a Probationary Officer does!

A Probationary Officer designated as an Assistant Manager in a Public Sector bank. After spending the initial 12-24 months in probation, he/she gets confirmed as Assistant Manager.

The responsibilities of a Bank PO Interview, would be –

Ø  Bringing in Business: As a PO, you’re expected to bring in revenues by promoting the products of the bank and its partners. These products include fixed deposits, mutual funds, insurance policies, credit cards etc.,

Ø  Reporting: A major part of the POs responsibility is generating End of Day reports (deposits, withdrawals etc.,), managing the day’s closings to avoid any mismatch.

Ø  Customer Service: Involves servicing branch customers in account opening, deposits, receipts, ATM cards, chequebooks, loans etc., Note that this is not a direct responsibility of a PO, as these services are predominantly handled by the clerical staff.

Ø  Other major responsibilities include Cash Handling, Payment clearance, Managing internal communication, Supervision of clerical work, Loan processing, etc.

Coming to the ‘How’ –

 IBPS PO Exam:

All Public Sector Banks (PSBs) except SBI, hire Probationary Officers (POs) through the IBPS (Institute of Banking Personnel Selection) exam. IBPS conducts the PO exams once in a year. Aspirants will have to clear Prelims, Mains and IBPS Interview, to get selected. The procedure is common across all the Public Sector Banks, except SBI. At the end of the process, you will be allocated to the bank you have selected, based on your preference and ranking.

Note that, the Ibps PO exam is fiercely competitive! Here are some statistics –

In 2016, for 8862 vacancies, a mammoth 30 lakh candidates appeared for the prelims! Out of which, 1.8 lakh candidates were selected for Mains and just 27,000 – about 3:1 – made it to the interviews.

Click here to know more about the IBPS Bank PO exam, 2018.

 The SBI PO Exam:

Did you know, State Bank of India (SBI) was once the Central Bank? That is, it performed the function that RBI, the banking regulator, performs today! SBI is the largest bank in India with more than 2 Lakh employees. It separately conducts its own PO exam to recruit Probationary Officers. Every PO aspirant aspires to join State Bank of India.

Similar to IBPS, 25 lakh+ candidates applied for a mere 2403 vacancies in SBI PO 2017. 6376 candidates made it to the Personal Interview round.

Click here to know more about the SBI PO exam.

Given the competitive nature of the exams, you must prepare wisely – for all the stages, not just the written exams.

 Reserve Bank of India (RBI) – Grade ‘B’ Officer:

RBI’s grade B Officer is one of the most prestigious banking jobs that graduates aspire to get into. Thanks to the attractive take-home salaries of approximately INR 65,000 that grade B officers start their career with. Also it’s more cool to work for the Banker of Banks, rather than a Bank, right?

Having said that, there were only 161 vacancies announced in 2017 and 2 lakh+ applicants! Which means tougher competition to get in!.

 Private Sector Banks:

If the chances of getting into a public sector bank or RBI seem farfetched to you, an equal or better career is up for grabs in the Private banking sector.

 Why the Private Sector?

Let’s get something straight! Public sector bank jobs are no more your relaxing, settled for life peaceful jobs! Bad loans piled up over years at the PSBs, has led to a major shake-up. The government is getting Public sector banks to follow their private counterparts in terms of efficiency, HR policies, Risk Management etc., Targets and sales pressure will also become a reality here, as in the Private sector; but you may not see the same level of growth, that you can in the Private sector.

Read this comprehensive article to know what the private sector is and the various opportunities here. [Includes the list of new banks now operational]

Unlike PSBs and RBI grade ‘B’officer exams, there’s no ‘One Exam Cracks All’ formula for the private banks. You need to keep a track of the openings in each bank and apply for it, basis your competencies and eligibility. Here’s a list of some popular private banks and their career pages.

Ø  HDFC Bank – http://www.hdfcbank.com/aboutus/careers/

Ø  ICICI Bank – http://www.icicicareers.com/

Ø  Axis Bank – http://www.axisbank.com/careers/

Ø  IDFC Bank – https://careers.idfcbank.com/

Ø  Yes Bank – https://www.yesbank.in/work-with-us/career-opportunities

Ø  Bandhan Bank – https://www.bandhanbank.com/recruitment.aspx

Ø  IndusInd Bank – http://www.indusind.com/careers

As the career page will have a huge bunch of CVs, you must write a crisp, CUSTOMISED cover note for each bank; your CV must have a standout factor, to get it shortlisted. A great project, internship or a banking-specific certification, are a must-have.

How to become a Research Analyst

“Yes, this stock has hit its peak; this is the right time to sell”. Where does this recommendation come from? How do Mutual Funds or Wealth management companies decide, which stocks to invest in? The answer lies in the extremely interesting field of Equity Research.

Broadly, there are two methods of analyzing a stock’s performance:

The ‘Fundamental Analysis’ approach, looks at the fundamental factors driving stock value: the economy, industry and the company’s financials. Using these, it then arrives at a fair value. The basic idea here is, the price of a stock should, finally, reflect its actual value.

It often doesn’t. Prices are also driven by herd mentality, fear, greed and mismatches between the demand and supply of the stock!

So, if a stock is trading at below its fair value, then you’d buy it – its price should go up, to the fair value; and vice versa.

Technical Analysis, on the other hand, is based on the principle that past investor behaviour will repeat in the future. That is, price movements in the past, will repeat in the future. It involves pure analysis of the past patterns of stock price movements.

In real life, most professionals use a combination of both.

As a fresher, how do you get the knowledge, to enter this field? First, let us understand the roles available to you. We can then see, how to get there.

Broadly, entry level roles are available in –

(a) The businesses which actually do the trading Brokerage firms. They need the research, so that they can advise their clients. They use these research reports, to showcase their expertise as well. Examples are IIFL, Angel Broking, Anand Rathi, etc.

(b) Global investment houses such as Goldman Sachs, Nomura have their captive research units (KPOs) in India, where Analysts will research not just Indian stocks, but stocks in other markets too. Traders will make decisions, or recommend investments to clients, basis this analysis.

There are third party KPOs as well, who handle the research for a range of clients – again, these are usually, global financial institutions. Examples of third party KPOs are Copal Amba, Crisil, Evalueserv, etc.

A brokerage firm typically prefers people with experience; at the least, an MBA in Finance. Fresher’s have more options in a KPO: the client there would lay out a template, and you would have very specific tasks.

In either case, your designation will usually be ‘Research Analyst’ or ‘Research Associate’.

An Analyst starts by doing some basic analysis such as calculating ratios using standard templates built in-house. She soon starts specializing in a particular industry such as IT, Healthcare, Auto, etc. She needs to acquire in-depth knowledge of a particular sector, in order to grow as an Analyst. This is because, a lot of factors external to the company, affect that particular industry. For example, US visa and outsourcing rules, will impact the Indian IT industry.

Within the Research team, it’s a fairly flat structure. You’ll grow quickly to doing the complete analysis of a company. However, the final report and recommendation (Buy?/Hold?/Sell?) is done by the head of Analysis for that sector.

So, how do you get there?

This is a competitive field! First, make a list of ten companies in each – Brokerages, Captive and Third Party KPOs, you can apply to. Second, find out the head of research on LinkedIn, for each company – you can also derive the email ID, by using the ‘firstname.lastname@companyurl.com’ format.

Write to each of them, with a customized cover note, and your CV.

But for the CV to catch their attention, you have to make sure, you have a great CV AND the right knowledge, to crack the interview. You must showcase your focus in this area – either via an internship, a project and/or a good short term course, with an industry endorsed certification. An extremely relevant one is the FLIP-NCFM certification on Equity Research issued by NSE. Once you’ve done this, you can also add on a FLIP Certification in Technical Analysis – both of them together, with give you a Research Analyst certification.