Good luck you guys; JP is tough to get an interview for so well done! Make sure your numeracy test is strong enough (thats where I wasnt marked high enough last year) and for the interview dont worry about technical stuff but just make sure you know whats going on with JP and world events. A few stocks and shares knowledge cant hurt. I would say most important in these interviews is what I just mentioned and enthusiasm.
morgan stanley should be replying within the next couple of weeks.
how is the Bank of England different to any other Bank that operates in the UK?
Scarily in a lot less ways than you'd think. The printing money, interest rates and legislative power/responsibility to ensure monetary and financial stability are quite large ways though.
Well done everyone who's got interviews and stuff! I just heard back from Morgan Stanley today - I've got one with them next Wednesday - and also I've got one with Lehman Brothers.
The Lehman Brothers one is v puzzling though, because they're only interviewing 6 people! The scheme includes career guidance training sessions and things, so surely they wouldn't run it for just 2 people or something? It's their 1st year running it so that might explain keeping numbers down, but less than 6 is tiny! Or are they only interviewing the people they can't decide about? The email included the names of the other 5 and when they're being interviewed in case we want to travel together, but they haven't included contact details for them... it's all very strange! I'm pretty certain it's an official thing though, the email ended @lehman.com
I dunno much about these things... anyone have any insight into their weird and wonderful ways? Oh and I'd love to hear from anyone else with interviews with either firm, or anyone who's been in the past and can give me an idea what they're like?
"# Operations, Technology & Finance (OT&F) Spring Internship in London
The OT&F division is hosts a one-week spring internship in the London offices starting on Monday, April 3, 2006 (accommodation assistance provided). The aim of the program is to provide a comprehensive introduction to this challenging division and the range of opportunities available. The program will consist of an introduction to Goldman Sachs, OT&F overview presentations, group projects, networking events and the opportunity to spend some time with a team in your chosen area (Operations, Technology or Finance). Participants will be streamlined into three groups depending on the divisional preference. "
Thats the placement I applied for. I got a call today saying that I have secured a place and should receive the contract through the post soon!! I did not have an interview!
It's worth bearing in mind that first year programmes are very new things and many banks have just started doing them this year or last year (and so size, competition, programme content etc should be viewed accordingly). The first bulge bracket bank* to do one did it in the Spring of 2003.
Since then, other banks have been watching and waiting to launch their programmes which has happened since Spring 2004 and 2005 for many. Some are starting this year. In a good five years or so, Spring programmes will probably be seen as critically important (in the way summer internships are now) - which to me - is very weird and puts people under extreme pressure... but heyho.
I did mine in 2005.
The latest trendy things for the banks to do to pimp themselves are 1) Presidents Days and 2) individual sponsorship schemes.
Spring programmes will get important... in the USA, "serious" bank recruitment starts (relative to the degree length) earlier than in Europe and the trend is towards what goes on over there.
Got an email today from Morgan Stanley inviting me to an interview for their Spring Insight week this Easter. Bit disappointed as i was going to go on a Deloitte Insight day - seems a bit unecessary asking people to go down for an interview/test for only a weeks experience. Maybe they have loads of people who've applied? Most firms let you do a test online.
On the subject of Morgan Stanley, i had a phone call from someone from their HR a couple of weeks ago asking to confirm my date of graduation. I knew what they were going to say when i said 2008 (i had applied to their Summer Internship as well). Anyway the guy told me that it was definately worth applying to their Graduate scheme. Two things struck me. Why do certain IB's only accept penultimates and some accept people from any year, e.g. Goldman? I was speaking to someone at an interview who said that Morgan Stanley had told a lot of people to apply for Graduate positions as they had considerably more of these than Summer Internships.
p.s. Anyone heard back from RBS about their Easter Programme as its the only one i've not heard from for ages?
1) Online tests are ****. People cheat on them all the time.
2) Internships are more or less 10 week long interviews to the graduate programme.
I've gone into the library at UCL and seen a dozen plus people doing the same online test using all kinds of technology to assist each other. In a sense, hilarious, but it shows up online testing as being a waste of time because people cheat in them - a lot...
The only value online tests might have is in working out who the cheats are. By that, I mean getting the online test to be 'please do not use a calculator' and ask a series of almost certainly calculator requiring questions...