IBD Recruitment Process

application process

Selection Processes are standardised throughout the Banking Industry and are composed of the following phases:

ONLINE TESTING: This phase represents the first stage of the selection process during which the candidate will be asked to go through a set of screening tests:

  • Numerical Reasoning Test: From 10 to 20 questions provided by SHL, Kenexa or Talent Q
  • Verbal Reasoning Test: Focused on short essays evaluation
  • Logical Reasoning Test: Evaluates the candidate’s capacity to analyse patterns and solve logical series
  • Situational Reasoning Test: Challenges the candidate through a series of business situation to be handled

FIRST CV SCREENING: In this stage, successful CVs will be handed in to the “Business Side” where mainly Analysts or Associates will evaluate interesting profiles of students with similar background and origin;

PHONE INTERVIEW: The Phone Interview is an intermediate filter that some Financial Institutions use (Barclays, Morgan Stanley, UBS) in order to evaluate motivation, interest and eventually some basic technical skills in a 15 to 30 minutes call:

  • Why have you applied for this position/bank
  • Competency based questions (ie examples of leadership)
  • How would you invest USD1 million?

FACE TO FACE INTERVIEW: A few banks’ selection process is structured in two Interview stages. During face to face interviews the candidate is mainly evaluated and challenged on his/her level of motivation and interest in the field by asking questions related to the bank itself, financial news (read the FT!) and competency based.

ASSESSMENT CENTERS: Assessment Centers represent the last step of the selection process where the candidate is exposed to a more structured set of evaluations that could vary in this range:

  • Face to face interviews (usually more than 2)
  • Business Case: finance-related case (non technical besides JP Morgan) where the candidate is asked to provide either a suggested solution supported by data or a brief presentation
  • Group work: Used by some banks (BAML, Citi, Barclays, Credit Suisse, UBS, RBS) in order to evaluate the candidate’s capacity to analyse a business problem while understanding group dynamics
  • Presentation: Further step where is asked to replicate a simple business situation such as a meeting or a call
  • Numerical/Verbal Reasoning Test: Additional evaluation where the candidate is asked to pass a certain threshold (generally low) in order to proceed in the assessment centre (Usually candidates are asked to take tests at the beginning of the assessment centre)
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