Credit Suisse Rejection! Watch

frederic743
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Anyone here with experience of applying for graduate schemes at CS?

I've applied to 3 areas (equity sales, equity research and IBD).

Following Numerical/verbal tests over the weekend, I receieved rejections for ES and ER but not for IBD. What does this mean?

Thanks in advance!
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frederic743
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btw, i'm pretty sure I failed the Numerical test.
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a443s
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To be honest any bank that uses those numerical/reasoning tests isn't worth applying to in the first place.

It's their loss, not yours.
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John_Sand
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This means you're pretty much screwed for all of them, just that they do not have the courtesy to inform you about it
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surfmonkey
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You can eliminate CS from your list. Once you fail the tests, you are out of the process for every position (including IBD in your case).
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aaf91
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Hey guys,

If I may ask, how long does it take to inform us whether or not we passed the tests?
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Destiny_808
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(Original post by a443s)
To be honest any bank that uses those numerical/reasoning tests isn't worth applying to in the first place.

It's their loss, not yours.


lol i think this is true. using those tests to screen people out is pretty pathetic
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sadhukar
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(Original post by a443s)
To be honest any bank that uses those numerical/reasoning tests isn't worth applying to in the first place.

It's their loss, not yours.
That's like, 90% of banks.

I've been rejected from CS as well and I don't understand why :|
Been applying since like 2011 to various programs. I think I should start a new account because they auto reject people who use old rejected accounts (although it took them a month to reject me oddly enough).

I don't really need the job since I already have one but I'm quite curious as to what happens if I keep applying to them.
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a443s
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(Original post by sadhukar)
That's like, 90% of banks.

I've been rejected from CS as well and I don't understand why :|
Been applying since like 2011 to various programs. I think I should start a new account because they auto reject people who use old rejected accounts (although it took them a month to reject me oddly enough).

I don't really need the job since I already have one but I'm quite curious as to what happens if I keep applying to them.
That's a good point, and I think you're right. The way I see it, banks look for ways to 'filter' out weaker applicants, and this can include seeing if you've been rejected before, and also if you've interned with them. I think an important point to remember is that an internship can work against you if you don't perform well - for example, I interned at a bank in 2011 and ever since then every application I have made to them has been declined. In some ways it's frustrating, as people can change and improve (especially when you're young), but they seem unwilling to accept that. What annoys me more than the rejection is when they don't even bother to invite you interview, so you don't even have a chance to show what you are capable of.

Don't worry, they've kept me waiting also. I applied to a certain bank last year and had to wait for 6 weeks until I was rejected. Apparently they do this for weaker applications, just in case stronger applicants defer to another bank or perform poorly at interview. I've applied to them again this year, and it's been 3 weeks and counting. I must admit, I find it quite rude and unprofessional. Especially since there is no communication from them prior to the rejection, then when they reject you they send it from a no-reply email address so you can't even ask for feedback or anything. If I kept them waiting for 3+ weeks to reply to an interview invitation etc, I imagine they wouldn't be too happy, would they?

More and more I find myself asking myself why I apply to these places, considering the sorts of behaviour mentioned above. I really hate the 'you need us more than we need you' mentality, and the way they treat you like rubbish because of it. I think they use their reputation and their reputation of investment banking to lure applicants who want to live the 'banker lifestyle', when in reality it is very different. Even I fall for it a little bit if I'm honest. Though I wouldn't beat yourself up above being rejected by CS; OK if it was GS or BAML maybe, but who cares about the other banks. I don't.
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DerPumuckl
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(Original post by a443s)
To be honest any bank that uses those numerical/reasoning tests isn't worth applying to in the first place.

It's their loss, not yours.
They all use them, so might as well not apply at all.
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ping19920218
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Totally agree...... Pathetic that while I hate those actions, I still wanna be one of them
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sadhukar
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(Original post by a443s)
That's a good point, and I think you're right. The way I see it, banks look for ways to 'filter' out weaker applicants, and this can include seeing if you've been rejected before, and also if you've interned with them. I think an important point to remember is that an internship can work against you if you don't perform well - for example, I interned at a bank in 2011 and ever since then every application I have made to them has been declined. In some ways it's frustrating, as people can change and improve (especially when you're young), but they seem unwilling to accept that. What annoys me more than the rejection is when they don't even bother to invite you interview, so you don't even have a chance to show what you are capable of.

Don't worry, they've kept me waiting also. I applied to a certain bank last year and had to wait for 6 weeks until I was rejected. Apparently they do this for weaker applications, just in case stronger applicants defer to another bank or perform poorly at interview. I've applied to them again this year, and it's been 3 weeks and counting. I must admit, I find it quite rude and unprofessional. Especially since there is no communication from them prior to the rejection, then when they reject you they send it from a no-reply email address so you can't even ask for feedback or anything. If I kept them waiting for 3+ weeks to reply to an interview invitation etc, I imagine they wouldn't be too happy, would they?

More and more I find myself asking myself why I apply to these places, considering the sorts of behaviour mentioned above. I really hate the 'you need us more than we need you' mentality, and the way they treat you like rubbish because of it. I think they use their reputation and their reputation of investment banking to lure applicants who want to live the 'banker lifestyle', when in reality it is very different. Even I fall for it a little bit if I'm honest. Though I wouldn't beat yourself up above being rejected by CS; OK if it was GS or BAML maybe, but who cares about the other banks. I don't.
Wait...of all banks you choose to provide as a good bank, you chose BAML?!? wtf? Everyone knows that the Morgans and GS are the top, with BarCap close behind....

Anyway, I agree with your sentiments but I think it's fair. They really don't need us because they get thousands of applications simply because we all apply to more than 1 bank (and we'd be pretty stupid to not do so no matter what people say about resume carpet bombing). Even so BAML's HR is disgusting. I've heard many horror stories from them. Check my topic on HR horror stories from a year ago to see what I and many others are talking about.

EDIT: that means you guys shouldn't stop trying, though. I got a good bank in the end, and no it isn't RBS or UBS :P
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a443s
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(Original post by sadhukar)
Wait...of all banks you choose to provide as a good bank, you chose BAML?!? wtf? Everyone knows that the Morgans and GS are the top, with BarCap close behind....

Anyway, I agree with your sentiments but I think it's fair. They really don't need us because they get thousands of applications simply because we all apply to more than 1 bank (and we'd be pretty stupid to not do so no matter what people say about resume carpet bombing). Even so BAML's HR is disgusting. I've heard many horror stories from them. Check my topic on HR horror stories from a year ago to see what I and many others are talking about.

EDIT: that means you guys shouldn't stop trying, though. I got a good bank in the end, and no it isn't RBS or UBS :P
Woah.....calm down. It was just my preference. I personally have no desire to work at JP Morgan or Barclays. Nonetheless perhaps you could provide a link to the BAML thread you are referring to, rather than me sifting through your posts to find it.
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Paul Allen
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(Original post by sadhukar)
Wait...of all banks you choose to provide as a good bank, you chose BAML?!? wtf? Everyone knows that the Morgans and GS are the top, with BarCap close behind....
This statement as a counter to the OP's original post is exactly what is wrong with this forum.

Everyone? Close behind? In what? Stop trying to generically rank investment banks. Commodities - yes GS, MS and BC. Do BC fare as well in equities? No. Does BC have comparable desks in IBD? One if that.

Does BAML own GS, MS and BC in certain areas? Yes. Where does it fare over the last 3Qs vs Barclays on fees? Second after GS and five places above BC. The point I am trying to make is that while general reputation of firms is widespread, performances vary across desks and teams.
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a443s
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(Original post by Paul Allen)
This statement as a counter to the OP's original post is exactly what is wrong with this forum.

Everyone? Close behind? In what? Stop trying to generically rank investment banks. Commodities - yes GS, MS and BC. Do BC fare as well in equities? No. Does BC have comparable desks in IBD? One if that.

Does BAML own GS, MS and BC in certain areas? Yes. Where does it fare over the last 3Qs vs Barclays on fees? Second after GS and five places above BC. The point I am trying to make is that while general reputation of firms is widespread, performances vary across desks and teams.
This is true.
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sadhukar
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(Original post by Paul Allen)
This statement as a counter to the OP's original post is exactly what is wrong with this forum.

Everyone? Close behind? In what? Stop trying to generically rank investment banks. Commodities - yes GS, MS and BC. Do BC fare as well in equities? No. Does BC have comparable desks in IBD? One if that.

Does BAML own GS, MS and BC in certain areas? Yes. Where does it fare over the last 3Qs vs Barclays on fees? Second after GS and five places above BC. The point I am trying to make is that while general reputation of firms is widespread, performances vary across desks and teams.
And those 2 statements directly contradict each other. Congratulations, you're an idiot.
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Paul Allen
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(Original post by sadhukar)
And those 2 statements directly contradict each other. Congratulations, you're an idiot.
General reputation in the world of finance is completely different to desk and team performance. If you're so well informed, take your statement about BC close behind MS and GS to someone who's spent any time in the city we'll see what kind of animal turd they throw in your face.

Your ranking was as generic as they come which is why this place is a melting pot of nonsense.

Contradiction? Reputation doesn't allude to a rank necessarily. It is generally known that Man Utd are a prestigious team with an incredible reputation. Do they rank in the top 3 in Europe? No. Well done though. One day you might say something and someone will benefit form it.
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