What It Takes to Join a Top Wall Street Bank

What It Takes to Join a Top Wall Street BankWhat It Takes to Join a Top Wall Street BankWith the application process for full-time and summer investment banking internships now underway, you might be asking yourself What makes a successful candidate?To join any line of business at a top Wall Street firm, its perhaps most important to demonstrate a deep interest in the financial industry, personal drive, and the ability to learn quickly. Its also important to demonstrate your capability to be entrepreneurial and motivated. In addition, you might also have to be capable of generating ideas and independently analysing business situations. Of course, many investment banking roles require analytical and quantitative skills. So those skills can be essential, too. But that doesnt mean firms are only looking for business, finance, and math majors. Investment banks recruit from all majors and areas of study, including from the arts and humanities.On-campus recruiting eventsAs for learning mor e about a specific firm, theres no better way than to meet its employees. And to that end, on-campus recruitment events will enable you to meet recent graduates and senior leaders at a firm, while learning more about the firm and its career opportunities. At these events, youll be able to talk to employees in person and ask questions that matter to you.Indeed, on-campus recruiting events offer a unique opportunity to meet representatives from all areas of firms business lines- and for you to leave a positive impression. To make the most of your interactions, advance preparation is key. Before an event, read about the firms line of business that specifically interests you and research it. Establish what you hope to achieve by talking to certain people. Think of how to describe yourself, what youre studying, and which career you hope to pursue. You might also want to prepare questions ahead of the event. (Typically, details about forthcoming events can be found at your universitys car eers service center, or from firms career websites.)Once you arrive at the event, make a good first impression by being organized and confident. Dont be afraid to approach people and introduce yourself, and remember that a firm handshake goes a long way. When asking questions, ask concise, relevant questions that require more than yes or no answers. Speak to as many people as possible, from all areas of the firm. This may help you to recognize opportunities in business areas you night have leid considered before.Cover letters and applicationsAfter a recruiting event, if you decide to apply for a role with a firm, your cover letter is your opportunity to sell yourself, and to distinguish yourself from the hundreds of other applicants. This is the place to state, briefly, why you wish to work at a particular firm, and how your background has prepared you for the challenge. Firms want to know that youve done some research on their business and that you understand why you want to join t heir team.Filling in your application form is equally important. (An application is sometimes accepted or required in addition to or in lieu of a resume). On your application you should include your expected month and year of graduation, and clearly state your role preference. Make the effort to individualize your form rather than copy and pasting from someone elses form. If you have no previous financial experience, find alternative ways to demonstrate your interest and aptitude, including other jobs that have required leadership and quantitative skills. Finally, correct contact details are vital. If you make a mistake, a firm might not be able to contact you.The bewerbungsgesprchIf your application is successful, and youre invited for an interview, remember that its a two-way process. Firms are interested in learning about you and your achievements, while you have the chance to find out about a firm and its culture. Before your interview, learn as much as you can about a firm. Thi nk about why a career in financial services attracts you. If your interview experience is minimal, attending practice sessions arranged by your university careers service can also help.At the interview, a great first impression can be made through punctuality a smart, professional appearance preparation confidence and honesty. When speaking, remember to structure your thoughts and demonstrate your interest by having some questions for your interviewee (or interviewees). You should also be able to discuss topical business issues, and remember that, no matter how well youve prepared, youll be expected to think on your feet.The offerIf you receive multiple offers following the various interviews you attend, find out if theres an offer deadline and inform the recruitment team if you need more time. You should also maintain open, honest communications with all your contacts. And, of course, always be professional in the way you manage your offers.This post was sponsored by J.P. MorganRea d mora Banking and finance careers with J.P. Morgan (jpmorgan.com) Technology careers with J.P. Morgan (jpmorgan.com)

What Questions to Ask During an Interview

What Questions to Ask During an InterviewWhat Questions to Ask During an InterviewWhen youre interviewing for a new job, the hiring manager shouldnt be the only one asking questions. In fact, engaging with a potential employer is critical Being inquisitive can tischset you apart from other candidates by demonstrating your interest in the position and the company. It can also help you learn more about the job responsibilities, the company culture and the potential for advancement.But what kinds of questions are appropriate? Here are some of the best questions job candidates can ask during interviews, based on an OfficeTeam survey of 609 HR managers in the U.S. and Canada. You wont have time to ask all of them, but reviewing them can kick-start your thought process as you prepare for interview day.Show your interest in the positionCan you tell me more about why youre trying to fill this position?Review the job posting carefully and go in explaining that you know the specific skills lis ted, but you want to know more, especially how the skills relate to the role. Asking this question will give you a fuller understanding of the expectations associated with the job and what need(s) it fills for the employer.Is this a new position or am I replacing someone?The answer to this question can help you either way the interviewer responds. If the position is new, you can ask whether you might be responsible for defining the role and it gives you a chance to talk about how exciting that is to you. On the other hand, if the position is a replacement, it gives you an opening for asking about potential turnover issues, which could be a red flag.What colleagues will I be working with?You can use this question to learn more about how responsibilities are shared among gruppe members. You can even ask to meet a few of your potential new coworkers, but this may be a more appropriate request for a second or third interview, when its clear youre a serious candidate for the job.Whats th e biggest challenge the team has faced in the past year?No job is perfect. Ask the interviewer to talk a little bit about the barriers youll face. Will you be dealing with long approval cycles, difficult clients or tight budgets? If youve experienced similar challenges in a previous role, you can share your experiences working through difficult situations. Make sure you have a realistic but positive attitude when discussing your previous experiences. You dont want to come across as a complainer, but as a problem-solver.We can help you prepare for the next stage of the job interview process negotiating a salary. Our Salary Guides offer salary comparisons by city in each industry.GET THE SALARY GUIDEDiscover how to do your best workWhat does it take for someone to be successful in this job?It will be very telling to hear what the manager feels are prerequisites for being a high performer in the position. Is it regular communication? Bringing new ideas to the table? This information w ill be helpful leid only if youre offered the job but also in deciding whether the role is the right fit for you to begin with.What would I be expected to accomplish in my first year? Ask about any goals or benchmarks established for the role. Will you be tasked with launching a new project or initiative? Do you need to improve internal processes? Taking time to ask this type of question clues you in to the level of work expected, and it also shows the employer youre already formulating ways to be successful in the job.How will you evaluate my performance? Performance reviews are standard procedure in virtually any job. How will your manager evaluate your contributions? Ask this ahead of time so expectations are clear from the start. However, this is also a question that may be more appropriate for a second or third interview. Use your best judgement to determine when to ask.What do you enjoy most about working here?Gain inside information about the company by asking the interviewer s experiences working there. Are the people friendly? Is the work rewarding? Sometimes, asking directly may be the only way to get this sort of information.How would you describe the workplace culture?If youve done your research on the company, you may already know the answer to this question. Still, ask about it and listen carefully for the qualities most important to you employee appreciation, company-paid employee development opportunities, casual dress, and so on. This question is probably the best of all to help you determine how well youll fit into the organization.Where would the company like to be in five years?Learn more about the key objectives of the organization and try to determine how you may be able to play a part in achieving them. Asking about goals can also help you get a feel for the companys performance and any struggles it may be facing.Do employees have work-life balance?This question is related to the one about workplace culture. Does your potential employer h elp people balance personal and professional responsibilities? Are there flexible hours and telecommuting options when situations arise, for example?Find out about growth potentialWhat are the advancement opportunities in this organization?Show potential employers that youre interested in finding a future at their company by asking about growth opportunities. If you are offered the job, this information can help you decide whether or bedrngnis to accept.What types of professional development opportunities are offered?More and more companies want to invest in their workers and improve retention rates. As an employee of the company, will you be able to attend conferences or register for online courses related to your profession? How will the company help you stay on top of the latest news and best practices in your industry?Can you tell me about your history with the company?Its a nice way of asking, How did you get to where you are? The answer will give you a glimpse into what it too k for the interviewer to get to their current position, and youll find out about the skills, personal attributes and other factors that can lead to advancement within the company.Dont be afraid to speak upWhatever you do, dont stay quiet during your interview. Its supposed to be a conversation that shows a hiring manager your genuine interest in the position. But not everybody does it. Coming in with a few questions in mind can help you set yourself apart from the competition.

4 Pleasing Results From Hiring a Career Change Candidate

4 Pleasing Results From Hiring a Career Change Candidate4 Pleasing Results From Hiring a Career Change CandidateResearch says that that people hold an average of 7-15 jobs during their lives. Many of those people not only change jobs, they change careers. A survey conducted by Simply Hired in the fall of 2013 showed that 43 percent of respondents were seeking to change professions. Older workers, who might be overlooked by recruiters as candidates for lower-level positions, are the group most likely to seek a career change. More than half (55 percent) of those between 40 and 49 said they wanted to change careers. Making the leap to another career is a tough decision for many people. They may have to consider a different schedule, lower pay or a different pay structure and more or less travel, among other factors. And often the biggest hurdle is getting hired in a new field in which they have little or no experience. Recruiters often make assumptions about career changers. They wont h ave enough experience with technology. They wont want lower pay. They wont want to work for a younger manager. And so on. Those assumptions can keep recruiters from finding great employees. Here are four reasons you should consider career-changers 1. Work EthicCompared to a recent college grad, a career changer has a proven work ethic. Lets face it they have been showing up to a job they didnt necessarily like every day for years on end. They know how to put in the hours. If they became fairly advanced in their previous field, they know what it means to pay their dues. That means they will show up for you, too. 2. PassionSomeone who has decided to change careers has likely given a lot of thought to what theyre passionate about. Whether thats a passion for the new field itself or changing to a career that supports the lifestyle they desire (more travel, summers off, etc.), they are motivated to make themselves happy. Happy people who are passionate about both what they do and the lif estyle they lead have a positive effect on everyone around them. Passion and enthusiasm are infectious, and thats surely good for morale, if not the bottom line.3. Humility Taking a leap into the unknown of a new career means being willing to learn the ropes and ask a lot of questions. Career changers are less likely to be stuck in old ways of how things were done at their previous job. Instead of making assumptions, the career changer will adapt and learn as they go. People who are willing to say, I dont know, can you please tell me? can be powerful assets to your organization. Asking questions fosters dialogue, which helps break the monotony of every day routine, and engages others in their own work by having them articulate goals and processes. 4. Diversity Innovation requires diverse perspectives. The ability to question the status quo, when combined with years of experience in another field, can inform new processes and products, and enhance efficiency. One study found that a t eam consisting of a combination of inherent (traits that are innate or inherited) and acquired (from past experience) diversity drives innovation in organizations. Companies with both inherited and acquired diversity are 70 percent more likely to capture a new market and 45 percent more likely to improve market share. Adding employees with skills acquired from other fields can bring fresh perspective that will help drive your companys success.When interviewing a career-change seeker, probe the four areas just mentioned. Work ethic Ask them about their commitment to previous jobs.Passion Discover the reasons theyre seeking career change. Did they pursue training or education in the new field? Does the reason theyre seeking the change feel like it comes from the heart, or are they just seeking money or an easy way out? Humility Look for examples of how they approach problem-solving in new situations. Are they willing to know what they dont know and seek out help? Diversity Will they b e comfortable in situations with people who have a lot more experience in a given field? Ask for examples of situations where they had to speak up to a superior or how they approach coming to agreement in situations that have many perspectives. Every organization can use another passionate, humble employee with a strong work ethic and a fresh perspective. They might just not have the experience you expect, so dont overlook those who are seeking a change. Over the next several months well be sharing best learnings and best practices on how to adapt and thrive in this new era of changing careers. To receive articles like this by email, sign up for Simply Hireds Monthly Newsletter and Feature Articles. Read more Charm Candidates With an Irresistible Company CulturePromote From Within or Hire From Without? Six Factors to Consider that Will Shape Your CultureThree Simple Ways to Attract the Right CandidateAnd Deter All OthersWhy Some Recruiters Almost Always Hire the Right CandidateBaby Steps To MeritocracyThe Changing Workforce