As you can see from my other post I am applying for an industrial placement to investment banks but I am also applying for summer internships. I've pretty much sent off all the applications that I want to top tier banks which include Goldman Sachs, Morgan Stanley, Credit Suisse and Citi (previously named citigroup).
The Way it Works
The way all the investment banks recruit is so similar that they use the same companies to design and make their applications! You'll get the obvious personal details followed by your academic results during the online application process. Some banks also put in competency based questions like "Tell us about a recent development in the industry that may affect us" - this was an actual question from BarCap.
After you complete your application most banks will invite you to a numerical reasoning or verbal reasoning test. Sometimes both! This is where the huge filtering happens. Some banks also filter at the first stage when you send out your application. They filter according to your grades (A Levels for the
After successful completion of the application and tests you may be asked for a first round interview which can be over the phone or face to face. After this there may be another round which usually is an assessment centre with the other candidates and you participate in group projects, presentations etc. Plus an interview on the day. This is the general method but some IBs will adopt different methods that suits them.
After all the above they may yet again be a final round interview! You think this is hard work?! Well during my spring internship (1 week) at Goldman Sachs an MD (Managing Director) spoke to us. He told us that he was interviewed 13 times by different people prior to joining Goldman Sachs! He thought this was crazy and he spoke to his new colleagues on the first day and told them about his interviews. They all replied that he was lucky since some of them were interviewed over 20 times!!! So I think it’s fair to say that we have it good!?!
If you have any questions you can use the comments below.
3 comments:
Questions here
In your opinion was there any bank(s) who's numerical test was much much harder? So far I've only completed Lynch's for S&T
I've been spending a couple of days getting my CV etc. sorted. Do you think it's too late to apply now even though the deadlines are beg jan or end of dec? I guess it's your first time too..
Cheers
Yes - I found the UBS test very hard - since they have an extra test on top of the numerical reasoning - a logical reasoning one - which was very hard.
Most of the numerical reasoning tests are done by SHL -so they are all similar and have the same level of difficulty - but i have met some that seemed harder than most for some reason...like the Barclays numerical test. No idea why it was hard for me it just was!
I think you have left it late - but it is not too late. If there was no point in sending your application now then there would be no point of having deadlines set by banks - if you know what i mean. But to be honest most banks are well into their final round interviews.
However, Goldman Sachs - have a policy of reviewing their applications after the deadline. Thats what they said, so it is questonable!
Apply as quickly as you can - and to as many as you can. Use the "machine gun" approach.
I hope the above helps.
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