Navigating Finance Roles and PS Interviews

The Economics Association sat down with 2021 batch seniors, (and Economics Association Alumni :)) Sidhant Bhat and Deepanshu Garg to discuss their experiences with the Practice School (PS) process. They shared insights on how PS-2 works, the types of roles offered, the application timeline, and how it compares to SI and Thesis. They also offered valuable advice on when and how to start preparing for PS-2 interviews. This interview was mainly focused on the finance roles for Practice School 2.

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Q: Could you explain how the PS-2 process works, particularly for finance roles, and how you prepared for it?

Earlier, finance companies came in mid-April, often selecting students purely on resume or CGPA. Now, interviews are standard for most companies. In our year, Nomura and JPMC arrived unusually early—in early March during midsems.

Finance roles are split into revenue and risk sides; seniors recommend aiming for revenue roles since Indian risk roles aren’t as strong. For preparation, solid academics are still super important. If your interview is close, try picking up some machine learning, as it helps with projects and gets noticed. Certifications like FRM are widely appreciated and cheaper than some others like CFA.

Dual degree students are often preferred for certain roles because most finance companies want interns for longer durations, but single degree students still have options if they target the right firms or they can choose to graduate early and continue to work at the company. Overall, collecting previous year job descriptions from seniors early and tailoring your resume/skills for those roles is a huge help in cracking finance roles.

Q: For the roles open to dual degree students, is preference given to Economics, Economics + Computer Science students, or is it the same for all, regardless of your MSc. and B.E. branches?

In finance PS roles, Economics students are preferred for many positions. However, certain roles—like model validation or model salary—often are a good fit for Physics and Maths students due to their strong background in mathematical modelling. Physics coursework, for example, heavily involves concepts like the Taylor Series, building a solid quantitative foundation that is valued in these roles.

While most positions prefer Economics students, some specific roles target Math + CS, Physics + CS, or similar branches, as these students work more on the mathematical side of finance.

Q: For those who are unaware, could you briefly explain how interaction roles work, and how they differ from the typical roles offered in Practice School?

PS roles can be broadly divided into interaction and non-interaction roles.

• Interaction roles involve a selection process—first a resume shortlisting, then one or more interviews, followed by shortlisting. These roles typically start coming in early March and continue till May. The timeline and number of interview rounds depends on the specific role and company.
  

• Non-interaction roles are allocated purely on the basis of CGPA, with the process taking place around May–June. Here, students receive a list of available stations, submit their preferences, and are allotted a role based on CGPA.
  

The key difference is that interaction roles require active preparation and performance in interviews, while non-interaction roles rely solely on academic standing.

Q: What’s the application process and rough timeline for these roles, from resume building to preference filling and finally the interviews?

Start building your resume in parallel with interview preparation. Since finance roles now start arriving by late February or early March, aim to finish most courses and projects by December of your last semester. That’s when you should begin assembling and refining your resume—adding courses, fine-tuning descriptions, and tailoring it for different roles. There’s no “perfect” resume; it’s built gradually.

Begin role preparation by January. Don’t wait for shortlisting—once shortlisted, you might get only 20-24 hours before the interview, which is too little to start from scratch.

For non-interaction roles, there’s no fixed prep timeline; you simply fill preferences when the station list is released. For companies like JP Morgan, interaction roles give only 2–3 days to submit your resume and preferences.

Research the roles you’re targeting in advance so you know your top 2–3 preferences—these are the only ones likely to give you interview calls. Filling them strategically is crucial, as lower preferences rarely lead to calls.

Q: Most dual-degree students tend to opt for two semesters of Practice School, while some do a thesis in one semester and PS in the other. Some also prepare for SI as well. Could you briefly explain the factors to consider while making this decision?

When deciding between two semesters of Practice School (PS), an SI (Summer Internship), or a thesis plus PS, there are a few key factors to keep in mind. If you're aiming for top IT roles at companies like Google or Microsoft, an SI makes the most sense—the experience is designed for tech-focused students, and some diversity programs give extra benefits to girls. In contrast, dual PS has historically been the “go-to” option for students interested in finance since most finance companies recruit via PS and prefer candidates who can work for a full year, which also boosts chances for a pre-placement offer. Thesis plus PS is mainly chosen by those who are planning to pursue a master’s degree; the thesis will help strengthen your applications for higher studies.

It’s important to note that SI usually occurs after the fourth year’s second semester and tends to overlap with the PS period that starts in July, so students doing SI can’t also opt for dual PS. AUGSD doesn’t allow both unless, in rare cases, the timelines don’t clash. So, in short: if your career goals are in IT, go for SI; if you're interested in finance, dual PS is usually preferable; and if you’re considering research or a master’s, thesis plus PS is the logical choice. For students who take an SI, a thesis is often the fallback for their final year first semester. Ultimately, your decision should match your longer-term ambitions and the requirements of the roles or further studies you’re targeting.

Q: What went into your preparation for interviews, and when is the right time to start preparing for PS-2 interviews? Do you have any tips on what to prepare and what is generally asked?

Deepanshu: For interview preparation, I believe focused preparation should start by January of your fourth year. Before that, concentrate on your courses and CGPA, but once January hits, prioritize revising key finance courses like FRM, DRM, and SAPM while strengthening your Python, machine learning, OOPS, and DSA skills. It’s important to thoroughly understand every project you've done, not just do them for marks or grades. Start with the job description early, identify key skills, and tailor your preparation accordingly. Use your summer breaks productively for certifications, internships, or skill-building. Interview questions usually cover your projects, finance fundamentals, programming basics, probability, and role-specific technical skills, so hands-on practice is essential. Having a strong SOP, whether formal or informal, really helps you stand out. I recommend using resources like YouTube and online practice as long as your knowledge is solid and practical.

Sidhant: My path was a bit different because I didn't have an amazing CGPA or very strong offshoot, so I focused heavily on finance courses and projects rather than my second degree in Computer Science. For every project in DRM, BAV, FM, and others, I made sure to understand each part deeply instead of just aiming for marks. These finance minor projects often involve Python, data scraping, and pre-processing—skills that frequently come up in interviews. SOPs helped me a lot, and they don’t have to be formal—informal projects with professors are valuable too. I had three SOPs on my resume and also secured a TA role. My advice is to focus on truly knowing your projects inside out so you stand out, even if your grades aren’t the highest. Nowadays, many SOPs include machine learning or econometrics. Exploring open finance-related projects on platforms like YouTube or Kaggle is also a great way to gain practical experience.

Q: Your interview process must have been really tedious and time consuming. Reflecting on your experience through the interview process, How did your respective interviews go? And in your view what do the interviewer typically expect from a candidate?

Deepanshu: Interviews can be nerve-wracking, but confidence is key, whether you’re a single or dual degree student. Interviewers understand you’re still learning and don’t expect perfect answers or industry-level expertise. It’s more important to clearly explain what you’ve done and show your thought process honestly—avoid bluffing, as they can easily spot it. Missing a few questions isn’t a dealbreaker; if you explain your reasoning well, it leaves a strong impression.

Sidhant: One big takeaway is the importance of mock interviews. Start by thoroughly understanding the job description, as interviewers assess your fit against it. Practicing with friends or even alone helps simulate a real interview and improve communication skills. Prepare a clear, confident self-introduction, since expressing your ideas clearly matters as much as technical knowledge. Interviewers are generally friendly if you know your stuff, but remember to treat every interview as a valuable opportunity and prepare accordingly.

Q: Like you mentioned, companies like Morgan Stanley and JPMC offer several roles when they come to our campus. So how did you go about your preferences for the roles and should one's preparation differ from role to role, or is it similar?

Finance roles at companies on campus generally fall into two categories: revenue and risk. Risk roles typically involve basic Python and Excel, often in middle or back-office functions, and front-office risk roles for undergraduates are rare in India. Revenue roles, such as Global Research (equity research) and Trading & Structuring (financial engineering) at JP Morgan, offer stronger learning curves and better exit opportunities, even though pay is similar across both categories. Preparation for these roles differs—Trading & Structuring demands strong skills in machine learning, algorithms, and probabilistic reasoning, while Global Research requires market awareness, curiosity, strong academics, and possibly CFA or FRM certifications. Risk roles tend to focus on more basic technical tools. Morgan Stanley offers some of the most premium roles like Quantitative Strategists, Data Strategists, and Financial Institutions Division roles, which combine research and quantitative analysis, sometimes including algorithmic trading. Given the unpredictability in role offerings, collecting past job descriptions and preparing accordingly is the safest strategy. Overall, the finance role landscape on campus ranges from technical, research-driven revenue roles to more process-oriented risk roles.

Q: How relevant did you find the course content of the finance minor and other CS courses when it comes to your preparation? And were there any course or a CDC which was particularly useful when it came to preparing for the interview?

The relevance of finance and CS courses depends on the roles you aim for. Core finance courses like FRAM, SAPM, and DRM are essential across the board, while equity-focused roles call for additional courses like BAV and FM. Applied Econometrics, especially time series analysis and forecasting, is valuable and frequently discussed in interviews. For technical finance roles, CS courses such as OOPS and DSA are important. Beyond grades, adopting a learning-first mindset is crucial—understanding economic trends and machine learning concepts, particularly causality, enhances your project work and interview readiness. A strong foundation in finance, technical skills, and practical economic awareness together prepares you best for interviews.

Q: How relevant is CGPA and offshoot when it comes to shortlisting for finance roles Is a high CGPA a critical factor in the selection process, or do skill sets and practical experience carry more weight?

CGPA plays a crucial role in shortlisting for finance roles, especially for dual degree students, where it heavily influences both shortlisting and final selection. For single degree students, though the number of roles may be fewer, a strong CGPA still matters as evidence of persistence and performance. Alongside CGPA, strong offshoot, projects, internships, and certifications are important to demonstrate domain knowledge. Overall, CGPA is typically the first filter used by companies, but success in interviews depends on a combination of skills, technical tools like Excel, Python, and machine learning, and soft skills. In essence, CGPA opens the door, while practical skills and experience help secure the role. For top-tier roles, maintaining a strong CGPA (often 7.5 or 8+) is even more critical, as companies value consistent performance across all courses, because it reflects dedication and the ability to meet high standards.

Q: Lastly, is there any advice or insight from your own experience that you think would be helpful for students preparing to apply for Practice School in the future?

Deepanshu: In today’s unpredictable job market, my main advice is don’t delay your preparation or assume that opportunities will just come later. Whether you’re a single or dual degree student, even in your second or third year, start thinking now about the roles you would like to see yourselves in and how your career might take shape. Begin by talking to peers, seniors, and alumni to understand what different roles involve, what the industry trends are, and how best to prepare. If you’re set on finance, focus on building relevant skills—learn Python, study machine learning, pursue Bloomberg certifications, and concentrate on your finance courses and projects. For IT or tech roles, focus on coding, projects, and building a strong resume. If you’re undecided, this is the perfect time to explore different fields and think about how each might evolve over the next few years, aligning with what excites you. Especially if you’re in your second year and planning a finance minor, use this window to explore before heavier commitments come in. Lastly, don’t take anyone’s opinion as absolute. Everyone’s path is unique, so take advice but make your decisions based on your own strengths, interests, and goals.

Sidhant: I completely agree with what Deepanshu says—ask questions and make decisions actively. You have access to an amazing network of alumni, seniors, and mentors on LinkedIn, so use it. Reach out and share your interests or confusions, and learn how others have navigated similar choices. Don’t stop at the first answer—keep asking follow-up questions until something clicks, and when it does, act immediately. Don’t wait for “next week” or “next month.” Even if you fail, you’ll learn and try again. Growth is a cycle: ask, try, fail, ask again, and try again. Whenever I feel stuck, I connect with alumni or seniors on LinkedIn and ask them what they’d do in my place or how they see the industry evolving. Their insights help me keep a realistic view of the future. But remember, no advice fits everyone perfectly—you should use it as input and then test it for yourself. Most importantly, don’t hide behind confusion. It’s okay to be unsure, but doing nothing won’t help. If you’re stuck between CS, IT, or finance, explore each actively rather than just going with the flow. Be curious, be decisive, and take ownership of your journey. If you keep asking, trying, and refining, you will find something meaningful.

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This interview was taken by Anubhav Saha Roy and Vidyesh Panyam and edited by P. Varun and Hamaid Izhar of the Economics Association.