This is a story of Karan Jain. Karan comes from Ludhiana, one of the most prosperous cities in the state of Punjab.
He has been an academically bright student in his academics. He took up Commerce in his XIth standard. As the beaten track for any commerce student who does not have a family business backing and has to make it on his own, he enrolled for the CA course.
He did well in the quantitative papers and was among the highest scorers in the country in Costing and Financial Management. However, theory subjects like Auditing and Assurance and Law hit him hard. He could critically analyze numbers as a God-given gift, but due to the lack of Rote Power, he failed to clear his CA inter. This failure happened thrice and hit him hard.
This is the brutality of the CA degree, especially when you are a youth starting your professional journey with hopes of conquering the world. Then the ‘failed’ screenshot of the CA result engulfs the mind, making you question if you are cut out for it. Perhaps a life of mediocrity has to be embraced, or maybe the people who succeed in CA are from a different planet. Maybe it’s not in the destiny to be successful. As the failure took a toll on him, he decided to quit CA, uncertain of what test of life awaited him next and what other failure was in store for a ‘good-for-nothing’ guy. He passed the six-week full-time Investment Banking Program from The Wall Street School and successfully got placed in Equity 360 in Oct 2022.
Here is a transcript of his interview with us:
Why do you think making the right career decision was so difficult for you?
I was completely burnt out after the stress of CA Inter exams, despite the fact that I scored among the highest marks in Costing and Accounting Paper.
I did not enjoy learning and rote memorizing case laws and audit procedures at all. I found it too boring and procedural, and perhaps I was not cut out for it. Today, when I think about it, I was like a headless chicken, and despite my diligent efforts of running around, direction was nowhere in sight. I just can’t cram things. When I had to memorize things, I got so frustrated thinking that everything is available on Google, why do I go through the labor of memorizing unnecessary case laws and procedures.
Societal pressure after graduation pushed me to find a job. I started applying for random jobs in banks as a relationship manager, where I was supposed to sell insurance, mutual funds, and CASA products only. The most difficult part was that by now people had started judging me for my erratic career decisions.
How and why did you enroll for the Investment Banking Program by The Wall Street School?
I got to know about the six-week full-time Investment Banking and Financial Modeling program of Wall Street School from a friend. I perused through some YouTube videos relating to different aspects of Finance (careers, curriculum, recognition, etc.). Just for the sake of doing something and due to the sheer lack of more options, I enrolled in the same program, not very hopeful of anything except for an assurance from the management team of The Wall Street School that they would make a sincere effort with me and all the other candidates.
How was your experience at The Wall Street School?
I underwent six weeks of intensive training in financial modeling and valuations. The training was very rigorous and insightful. It exposed me to a completely new world. I had studied some concepts but never the practical application of these. To be honest, the experience was overwhelming initially. Coming from Ludhiana, I had never experienced any experiential learning like this before.
The six-week training opened up a new outlook into the field of Finance. From Excel to making three-statement models to business modeling with flags to security analysis of different companies to valuation of companies, every single day was a new experience and a new learning. To top it off, the trainers at The Wall Street School were not just coaches; they were mentors. I could message them on WhatsApp, talk to them about doubts, life, and career goals, anything. They were mentors more than just coaches. I worked hard during the six weeks.
In fact, I did not have a choice but to work hard. It was for me, for my life, for my career, for my vindication. I had peers who were MBA Finance, CAs, CA final students, and CFA students. Even they resonated with my thoughts that they did not have as much concept clarity in their MBA and CA as they did while undertaking the program with me. Because I was learning alongside them, I did not feel out of place.
What happened after completing the six-week training?
I enrolled in the placement services. I got two interview calls, and I flunked badly in both of them. Emotions and pressure overran me, and I really goofed up. I was very disappointed with myself. That ‘good-for-nothing’ impression of myself came back to haunt me. Nothing happened for a week, and I was getting desperate.
I spoke to Himanshu Jain Sir; he gave me a pep talk, and I was able to overcome my emotions. The next interview was lined up at Equity360. I did not want to screw up that opportunity. I had a mock interview with Manoj Goel Sir. I realized the mistakes I was making. I was able to convert my interview in a single shot, and my performance was flawless. Sumeet Sir liked my honesty, knowledge, and maybe the raw energy. I got an offer, and after discussing with my family, I said yes. I received the offer letter on the first Navratra of 2022. I will always remember that day. It was the first time ever in my life I felt a little worthy. I had got a chance to prove myself, a chance to redeem.
How are things now post-placement?
I have been working very closely with Sumeet Sir. He has been a fantastic mentor, always on the run, always trying to close deals, and he also asks me to dig for information, perform industry analysis, and takes me into deals. It’s amazing to just be with him in conversations he has for deal closing. Mind-boggling. I mean, wow.
Since the past nine months or so, as I have been a part of Equity 360, I feel I am not the Ludhiana wala Desi Karan Jain. My Ludhiana friends notice a lot of change in me professionally. Even I feel I have become more mature, more sure, more confident, and more competent. Sumeet Sir has been happy with my performance. He gave me a free hand to open up the Debt Syndication vertical in the company, and I am working on that. We have worked on numerous deals together. The network I have been able to build for myself is amazing. I recently connected directly with the CFO of PayTM for a professional assignment, and Sumeet Sir gave me the freedom to work independently on the deal. That is the level of trust I have been able to build with him.
Sometimes I think it’s okay to put in a full stop. The CA institute did not validate my credentials. Maybe success and recognition are beyond that. I wanted a chance, and I got it through the efforts of The Wall Street School, for which I will always be grateful to them. Now it is up to me to make the most of it.
To connect with Karan Jain, you may directly contact The Wall Street School or reach out to him on LinkedIn.
