Introduction
Hello everyone, I’m Suyash Waghmare, a fourth-year Economics student. Let me take you through my journey. It all began after a demanding summer internship (read here) when I returned home, exhausted yet determined to study. Despite my best efforts, I had hoped to accomplish more. As we returned to campus, my friends focused on different career paths, having prepared extensively to tackle tests, guesstimates, and case studies.
Intern Season
To prepare for the intern season, I completed several finance projects, including SoC and course projects, and gained a broad understanding of equity markets. Additionally, I completed online courses, certifications, and in-depth finance courses on YouTube. With an improved resume, I entered the application process, focusing on Day 1 finance firms, as I had little hope in quant or consulting. Surprisingly, I was shortlisted by Deutsche, but the interview process taught me that superficial preparation was insufficient. The panel questioned topics listed on my resume that I couldn’t defend in depth. This experience highlighted the importance of being able to comprehensively defend resume items. Although I advanced to the next round, I struggled with the guesstimate and was eliminated on Day 1.
With a clear vision of pursuing a career in finance, I applied selectively to finance firms, despite many requiring coding skills that did not interest me. Factors like my CPI and difficulties in clearing tests resulted in missed opportunities. I also found securing internship offers in October through LinkedIn challenging.
With most reputable firms no longer available, I stopped filling out job application forms (JAFs) and decided to focus on strengthening my resume by securing a quality research internship. I revisited the university application process, meticulously built a database, and sent out about 400 emails, receiving 20 replies, 19 rejections, and one acceptance. After discussions, I chose an internship that blended finance and technology to enhance my coding skills in data science. Once this was settled, I resumed my search for summer internships.
Unexpectedly, an opportunity arose when a friend informed me that Apollo would be offering internships. I attended the pre-placement talk to gain any possible advantage. The test was quite easy mostly basic statistics and risk stuff. After waiting until December 4th, I returned home to focus on projects and escape the hectic atmosphere. As the days passed, I nearly forgot about the test until I received a call from a friend in the IC, who informed me that I had been shortlisted and that the interview was scheduled for the next day.
In light of my previous setbacks, I had diligently prepared my resume, puzzles, and probability skills throughout the semester. In a concentrated effort, I also reviewed the recommended book from the pre-placement talks.
Interview
This time, I felt confident; in the first round, I was asked to speak about one of my favorite finance topics. A few insightful questions were posed, but nothing overly challenging, thanks to the insights I gained from attending the pre-placement talk.
After much back and forth, the next round consisted of an intense examination of my resume. Following a rigorous review, I inquired about the company, a crucial strategy everyone should have in their arsenal. After a promising interview, I found myself unable to sleep, spending the next day refreshing intern blogs and emails while texting my PT Cell buddies back and forth. Finally, my friend called, bringing news that left me over the moon. A company I had long aspired to join had selected me for their internship program.
The Intern Experience
In February, Apollo hosted a small meet-up where they gave us gifts and introduced us to the firm’s culture. However, the real challenge began in May. We were assigned to the investment risk division, encompassing various risk teams, and I was on the market risk team. The new office is located in NESCO IT Park in Goregaon so consider about 45 min of travel at least in the morning due to traffic. The initial week was familiarizing ourselves with the firm’s daily operational basics. In the following week, we received our project assignments. I was tasked with a project involving a blend of coding, Excel, and finance—a comprehensive package.
At first, it seemed daunting, but with guidance from senior colleagues and deconstructing problems into manageable parts, I made significant progress. The skills required vary from project to project, but you encounter numerous finance terms that are essential to understand for successful implementation. Along the way, we participated in sessions detailing each team’s work and engaged with senior team members. We attended global speaker sessions featuring CXO-level leaders, including the Chief Economist, CEO, CHRO, and various partners. The opportunity to interact directly and ask questions greatly enriched our understanding and integration into the firm’s culture.
Culture
The culture at the firm is genuinely exceptional, characterized by intelligent individuals. It is notably open, encouraging inquiries on any topic. Everyone is accommodating and eager to offer guidance, not just on project-related matters but also on career development. The working hours were relaxed; we would arrive around 11 a.m. and enjoy a game of pool. The firm provided snacks and dinner. The pantry and cafeteria served our brunch needs as well. Typically, we would leave around 8:30 or 9:30 p.m., with company cabs available until 5:30 a.m. to take us home. The flexible schedule, depending on the tasks, allowed for early departures on quieter days. Interestingly, every internship I’ve had seems to coincide with an annual party—this year was no exception. We enjoyed a fantastic team meet-up, which facilitated bonding and helped us get to know one another better.
As I mentioned, each day involved problem-solving, which was the most enjoyable experience I have had in this regard since my JEE days. Working at one of the leading firms in Asset Management and Private Equity offered substantial exposure to the entire business landscape.
At Apollo, I learned an immense amount, enhancing my skills in SQL and gaining development experience in Python, which was entirely new to me. While I initially had only a basic understanding of bond math, my time at Apollo deepened my appreciation for the simplicity and complexity of financial markets, especially the credit market, and how each term is applied practically to assess and minimize risk. The most valuable aspect of my experience was networking with colleagues across the floor, seeking guidance on project-related matters and my career trajectory.
Final Word of Advice
Much of my perspective on life and hope has remained unchanged since my last blog. While those around me secured internships left and right, I needed a clear placement path. However, an unexpected opportunity occurred, and I was ready for it. My final piece of advice is not to lose hope. If you have a fixed goal, continue striving for it with all your effort. Be as prepared as possible; you never know when the next opportunity might present itself.
