For those applying for Industrial Training - Here's What I Learned Along the Way
When to apply?
You should ideally apply 2-5 months before your 1.5-year completion date. Corporations have a long onboarding process and you would not want to fall short on duration. My first day at Goldman Sachs was 3 months post getting the selection call.
How to apply?
1. There are telegram groups specifically for posting industrial training vacancies. Most Industrial Training vacancies would be shared here.
2. On LinkedIn, search for "industrial trainee". You will find relevant posts on companies hiring.
3. You can also check on ICAI website for companies empanelled for Industrial Training.
How to prepare?
You should keep your Linkedin profile up to date and Keep your resume in handy so that you can apply immediately.
Interview Prep: Since Industry is a relatively new field you are not expected to know much about the technical aspect. However you must have a broader understanding of the industry.
You will be quizzed about the work you performed and your learnings from it. This is to show how conceptually thorough you are with the work assigned to you.
Since I worked in the Direct Tax domain I was asked about Form 3CA/3CB and the clauses in it. If you get to know the department you are interviewing for, read the job description and the day-to-day activities to be performed.
You can connect with the interns working in the department and understand the possible questions you may be asked and read about the trends and news related to the company and the industry it is operating in.
Going through ICAI subject compilers to get a bird's eye view of various topics will be helpful. If you don't know the answer to any question, feel free to tell the interviewer that you don't know the answer.
Based on your initial answer on the topic, you may be asked deeper questions. So better to admit early on that you do not know a particular topic instead of guessing it
During my interview, I was asked about Forex, derivatives, and about the news related to the company. 6 months later this made so much sense as my primary work was related to forex!
So do good research beforehand.
Hope this helps!
If you want to understand the process in detail, check out our blog here.