Successfully Applying to an Investment Bank: Tips and Strategies

2. How to apply successfully to an investment bank Queen Mary University Sarah Bell 6 October 2009

3. What we will cover today CVs Online application forms Testing Interviews Assessment Centres Research Group exercises Commercial Awareness Case studies • Avoid common pitfalls • Know what we’re looking for • Conduct yourself with confidence Competency interviews Networking

4. CVs A CV is your opportunity to showcase all the skills, attributes and achievements that make you attractive for the role Many employers ask you to condense this into a 1 page CV

5. CVs – the essentials….. • Try to divide the page approximately into thirds – give equal amount of space to education, work experience and other interests and skills • Pay attention to formatting, spelling and grammar – this is just as important as the content! • Stick to a simple style, avoid using logos, fancy • fonts, wordart etc • Be consise yet comprehensive • Utilise bullet points, avoid large chunks of text Personal Details Education Work Experience Interests & activities

6. What should a CV contain? Personal Details Full name, Current address Email address & telephone number Education University Dates attended Course title Summary of modules studies (highlight relevant modules) School Dates attended A Level (or equivalent) subjects and results. Summary of results previous to this, e.g. GSCEs: 5As, 5Bs.

7. What should a CV contain? Work experience Name of employer Job title Dates of employment (accurate) 3 – 4 bullet points to explain responsibilities / achievements Interests & activities Clubs / societies Volunteering Sports Elaborate – include details such as length of time you have taken part, achievements etc. Skills Language skills IT knowledge

8. CV Tips Chronological order with most recent first University education above school education This applies to work experience and interests too – don’t start this section with something you were involved in several years ago In the UK, a photo is not required on your CV It is not necessary to include a personal / goal statement You can also remove referees from your CV Don’t underestimate the importance of extra curricular activities Always provide a complete CV if submitting with an application form – don’t omit information you think you are duplicating

9. Online applications

10. Online applications: Hints and tips • Do not wait until the deadline • Attention to detail is key (including grammar and punctuation) • Do not copy and paste information about our firm from literature online • Competency questions – prepare a draft / think about your answers • Save a copy of your answers for interviews • Be careful you don’t copy and paste another application and put the wrong company name in your answer!!

11. Testing Companies use a range of different tests as part of the application process Psychometric tests Aptitude tests Personality tests Numerical & verbal reasoning tests Not designed to test advanced mathematical skills Designed to test ability to think quickly and analyse data 20 minutes to complete each test

12. Testing: advice Complete the tests in your native language where possible Ensure you are prepared, your phone is turned off, you are in a quiet place and you will not be disturbed – you don’t get a second chance! Numerical tests – ensure you have a proper calculator, keep your workings out – they may be used for further questions Practise

13. Testing: Numerical reasoning

14. Testing: Numerical reasoning

15. Testing: Numerical reasoning

16. Testing: Numerical reasoning

17. Testing: Verbal reasoning • Answers • True False Cannot Say • True False Cannot Say • True False Cannot Say

18. Testing: Verbal reasoning • Answers • True False Cannot Say • True False Cannot Say • True False Cannot Say

19. Testing: Verbal reasoning • Answers • True False Cannot Say • True False Cannot Say • True False Cannot Say

20. Testing: Verbal reasoning • Answers • True False Cannot Say • True False Cannot Say • True False Cannot Say

21. Testing: Verbal reasoning • Answers • True False Cannot Say • True False Cannot Say • True False Cannot Say

22. Practice Test Resources Company workshops Careers service websites GMAT tests www.shl.com http://students.efinancialcareers.co.uk www.ase-solutions.co.uk http://www.aptitudetestsonline.co.uk/Samples.aspx# www.morrisby.com These are resources that came up in a recent google search – there are many more online !

23. Interviews: The obvious • Be punctual • Neat appearance/business attire • Turn mobile phones off • Behave as if you want to be there - have the right attitude • You will be nervous

24. Types of Interview Motivations Commercial awareness Competencies Role specific / technical

25. Interviews: How can you prepare Make sure you know lots about Barclays Capital Ensure you’ve been reading the FT or Economist for 3 months Preparation Think about questions to ask your interviewer Think about questions you will be asked

26. Motivations • Why the investment banking industry ? • Why Barclays Capital specifically ? • Why the division you are applying to specifically ? • What have you done to confirm your careers decisions ?

27. Commercial awareness

28. Competency Based Interviews What are they? Past behaviour predicts future behaviour Relates to essential criteria/competencies for post Only one part of recruitment/interview process Interviewers look for: Past behaviours and performance Learning from past behaviours Future adaptability to new post Knowledge and understanding of issues in relation to role

29. Competencies

30. Competency based Interviews How to structure your answer: What did you do? What was the outcome? What was the situation? (set the scene) What would you do differently next time?

31. Competency questions: advice Think about scenarios for each of the main competencies in advance Do not over prepare – be careful to answer the question asked rather than give a scenario you have prepared that doesn’t fit the question ! Be succinct – explain the situation thoroughly, but ensure you give relevant information, don’t ramble It is acceptable to ask for a minute to get your thoughts together before answering Try to give examples from a range of different scenarios rather than focussing on one event for each Give examples that put you in a good light! (Unless asked to talk about when something went wrong!)

32. Competency interview questions Exercise

33. Competency interview practice • Get into groups of 2 or 3 people • Select a business area e.g. Sales, Investment Banking, Trading • Discuss what competencies might be required to work in this business area • Predict the types of competency questions that you might be asked • Tell me about a time when…. • Can you give me an example of…. • Try answering the questions you have come up with

34. Competency interview practice EXAMPLE Business area: HR Competencies needed for the role: Communication skills, organisational skills, multi – tasking Possible questions: Can you tell me about a time when you had to give a difficult message to an employee? How did you deal with this Tell me about a time when you had to work to a tight deadline, how did you ensure you met the deadline?

35. The ‘Business’ Interview Show motivation / interest for the area your interviewer works in – be inquisitive: two-way conversation Be open minded – don’t tell an interviewer from FX that you want to work in Commodities before discussing the role. Be focused enough to be able to demonstrate drive and commitment for the business area (whilst taking into account the previous point) Ensure you can identify key differences between Barcap and our major competitors Ensure you understand the main competencies required for the role you have applied for and reflect these in your interview Ensure you can talk about industry developments relevant to the business area you have applied to.

36. Assessment Centres Why do we run assessment centres? What does an assessment centre involve? How to stand out

37. Why do we run assessment centres ? Put your skills into practice Test candidates in a variety of situations Efficiency > 30 candidates per assessment event Two way process

38. What does an Assessment Centre involve? Interviews Case studies Group exercises Testing Networking Role Plays Presentations Prioritising/ “in-tray” exercises

39. Assessment Centre: How to stand out Consider your conduct throughout the event, not just during each activity Interaction with other candidates Networking Think about each activity as an opportunity to showcase your skills & abilities Think about what the assessors will want to see from you during each activity – competencies Enjoy the event!

40. Group Exercises • Common assessment centre activity • Tests a variety of skills • Teamwork • Communication skills • Analytical skills • Vary from exercises or case studies related to the role you are applying for to abstract problem solving tasks

41. Example: “All Adrift” • Brief • You have 40 minutes to complete this task. • You and your friends are crewing a small yacht on a sailing holiday. Following an accident in the galley, the boat catches fire and you have to abandon ship. You all quickly don life jackets and try to send out an SOS message, giving your position about 150 miles off the west coast of France. Unfortunately, you are not sure if the message will get through as fire has already reached some of the equipment. • The weather is fine and clear with an easterly wind blowing at about 10 knots. The fire spreads quickly and you launch a small open dinghy big enough to take you all. There is little time to deliberate on what to take – but you all grab the nearest items to hand. Here is a list of the items.

42. All Adrift…continued • Fishing tackle (line and hook) • Oars for the Dinghy • Plastic sheeting (large) • Plastic bucket • Gallon of fresh water • Knife • Chart and compass • Rope • Radio/Cassette Player • First aid kit • Bottle of brandy • Tinned food • Camera with flash • Blanket Your task is to choose the ten most important items and rank them in what you consider to be the correct order of importance. You have 10 minutes to record your decisions individually You then have 20 minutes to agree on a group ranking. The group must reach consensus on the 10 items and their ranking. At the end of this period you have 10 minutes to prepare and present the groups decision to the assessors and you must be prepared to justify your decisions.

43. Group Exercises - hints Contribution and quality of ideas Delivery of ideas – confidence, ability to convince others of your ideas Be aware of your body language Listening to others Bringing quieter members into the discussion – asking for their suggestions Structuring & planning Timekeeping Summing up Presenting ideas – not just what you have to say but how you say it Be enthusiastic, don’t be afraid to express your ideas Read the instructions thoroughly – don’t miss key information

44. Next steps What we offer Full-time positions (programmes starting in February and July) Recruiting Now! Application deadline: 15 November 2009 Internship positions for penultimate students (summer and off-cycle) Application deadline: 31 December 2009 Our training programmes Initial Training Programme (ITP) Continuous Professional Education (CPE) Mentoring

45. Roles available Compliance Legal Research Corporate Communications Marketing Sales Global Financial Risk Management Operations Structuring Finance Prime Services Technology Investment Banking Quantitative Analytics Trading