Anand Rathi Reviews

This review is for only the IIM grads about to join this company as Management Trainees. Do not confuse this with other reviews on this site which are for AMs. To the IIM students, this is shown as a Finance job. The actual job only involves filling up forms, depositing cheques, updating portfolios manually in excel as they do not have the IT infrastructure to do so. You will not learn anything about finance here. Not even marketing. You are just being hired for IIM tag. If you want to switch after working here for 1-2 years, your experience will be irrelevant. For all the IIM grads- if you have picked up this job on campus please search for any other job and keep joining this as your last option. Filling up forms and depositing cheques is something you will not want to do after doing finance from IIM- nothing about valuations, derivatives and other finance concepts here. Only those who get into product eam have some scope while switching to another company. Join here if you get into product team but not as an Management Trainee which is actually a job of account manager. There is no IT infrastructure here. So you end up doing things manually which take a lot of time and you leran nothing from it. You will not get any bonus or hike for 3 years

There will not be any increment for initial five years even if you perform decently. Even your total compensation will reduce after getting a promotion. Let me explain the math. The current salary structure of the company pays 10lpa fixed to the RMs with 10 Cr of AUM, 15lpa fixed to the RMs with 20 Cr of AUM, 20lpa fixed to the RMs with 30Cr of AUM and so on. Now the company is hiring Management Trainees from top B-Schools at a fixed salary of 15-16lpa which is higher than that of an RM. But the designation offered to these MTs is Account Manager which is a level below the RM. And the company does not have a separate salary structure for these MTs. With the current compensation structure, an MT is supposed to get his first hike from 15/16lpa to 20lpa when he reaches 30 Cr of AUM. So, how much time will be required to acquire clients worth 30 Cr? On an average, the company promotes an Account Manager after 3 years. After promotion a new RM needs 2 years to accumulate 30 Cr of AUM. Now the second point. How your total compensation can reduce after your promotion? As an Account Manager you may receive 1.5-3 lakh of bonus based on your team performance and your RM's whim. Basically, your RM may share a small part of his bonus with you. But when you will be promoted, this bonus sharing thing will not be there and as a new RM, you are extremely unlikely to make any bonus. So after promotion, your total compensation will reduce. Other Cons 1. A lot of redundant work because of poor IT infrastructure 2. The job actually includes a few rediculous things. For instance, you need to fill up forms on behalf of clients, sometimes you have to run behind clients to get signatures. Your manager can make you book flights/hotels for him. He might ask you to do his web check-in for flights. He will also ask you to do all the paperwork and procedures to get his expenses reimbursed 3. The annual review was some random rating on their internal portal without any verbal communication