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Am I eligible to apply top banks?

I got a bachelors degree (2:1) in Engineering from a 50th-60th univerisity and then achieved a masters degree in Engineering (distinction) from a top 10 university. Although I meet the minimum academic requirements, I know top banks (like citi, hsbc,etc) are always seeking candidate from top universities, so will I be garanteed an interview if I can pass the online test?

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Reply 1

iCreptio

Almost no one is ever guaranteed an interview after their online tests. Your university/grades is only half the story, you'll also need some sort of relevant experience, good extra-curriculars, etc.

As long as you have a strong application you should be able to get a few interviews, although no one can "guarantee" it, you'll just have to try.

Reply 2

KLL

Nothing to stop you if you meet the basic requirements. Doesn't mean you're anywhere near likely to get an interview. Less than the top 10% of people get interviews.

Reply 3

liarpoker

Original post by KLL

Nothing to stop you if you meet the basic requirements. Doesn't mean you're anywhere near likely to get an interview. Less than the top 10% of people get interviews.

What do you classify as the 10%?

I've come across quite a few people doing stints in IBD, AM, Sales,etc who are just your run of the mill, top university, strong ECs and good grades.

Reply 4

Tokyoround

Anybody is eligible to apply, whether your application will go anywhere is another matter.

Reply 5

KLL

Original post by liarpoker

What do you classify as the 10%?

I've come across quite a few people doing stints in IBD, AM, Sales,etc who are just your run of the mill, top university, strong ECs and good grades.

They're defiend by getting interviews.

Reply 6

mrkl

Banking being super competitive in London: I say it's tough because the 1st degree is only a 2.1 and most serious candidates will have 1sts

Reply 7

gr8wizard10

Original post by mrkl

Banking being super competitive in London: I say it's tough because the 1st degree is only a 2.1 and most serious candidates will have 1sts

The 2:1 requisite is just a filtration system.

2:1 Target > 1st Non target/semi-target (usually)

Reply 8

mrkl

Original post by Abdul-Karim

The 2:1 requisite is just a filtration system.

2:1 Target > 1st Non target/semi-target (usually)

Thanks for supporting me.

Yes, He went to a non target and most serious candidates will have 1sts

Reply 9

KLL

Original post by Abdul-Karim

2:1 Target > 1st Non target/semi-target (usually)

I still think thats a myth

Reply 10

gr8wizard10

Original post by KLL

I still think thats a myth

Banks have different HR recruitment processes. So very may well be..

Reply 11

KLL

Original post by Abdul-Karim

Banks have different HR recruitment processes. So very may well be..

Its not HR that decides but the analysts and associates loking through the CV.

Reply 12

gr8wizard10

Original post by KLL

Its not HR that decides but the analysts and associates loking through the CV.

When a spot opens HR are the ones who filter initial CVs. Then analysts generally filter it again and then Managers will make the final decision from a select few who get to final stage interviews.

Reply 13

KLL

Original post by Abdul-Karim

When a spot opens HR are the ones who filter initial CVs. Then analysts generally filter it again and then Managers will make the final decision from a select few who get to final stage interviews.

HR filters for HR stuff and minimum criteria, and usually doesn't make judgement calls on whether a 1st from a semi-target is as good as a 2.1 from a target.

Reply 14

ahpadt

Original post by Abdul-Karim

When a spot opens HR are the ones who filter initial CVs. Then analysts generally filter it again and then Managers will make the final decision from a select few who get to final stage interviews.

I would find it shocking that such inexperienced workers would be able to decide who can join the company.

Reply 15

KLL

Original post by ahpadt

I would find it shocking that such inexperienced workers would be able to decide who can join the company.

Actually it makes complete sense, as they are the people they will spend most of their waking hours with for the next years. As an intern / junior analyst you will be working mainly for assocites and senior analysts on a day to day basis.
The MD will actually forget your name if he doesn't interact with you regulary.

I was always annoyed when I didn't get to interview candidates for internship / analyst positions to support me, and it usually didn't lead to good results

(edited 9 years ago)

Reply 16

mrkl

Original post by KLL

I still think thats a myth

You may think it's a myth but the big FIs don't. When you have 1000s of people applying to 1 position then you can afford to be extremely choosy.

Reply 17

mrkl

the initial filter stage involves discriminating between target and non target, there is no semi target.

between the 5 targets , you have 10s of 1000s of applicants for a few hundred places in the top institutions. That means potentially 1000's of applicants for the FO posts.

Exactly why the target unis filter is there.

Reply 18

Szmessh

blind leading the blind again

Banking being super competitive in London: I say it's tough because the 1st degree is only a 2.1 and most serious candidates will have 1sts

2:1 is the bare minimum, that's it, if you are below that you are pretty much fked. So a 1st or 2:1 should be a given, the difference between them as far as your recruiting prospects go -> negligible. It's about what else do you have on your CV apart from your grades (and uni name).

2:1 Target > 1st Non target/semi-target (usually)

If you compare only this two data, it's not an "usually" but an always. It's not a myth (wtf) nor banks have different HR processes in this respect, a CV which has LSE on it has LSE on it (no matter it has 2:1 or 1st next to it).

the initial filter stage involves discriminating between target and non target, there is no semi target.

Wrong. For one, discriminating happens on the basis of the CV's content (uni, grades, ECs, work exp combined) and not solely on the uni name. For another, there ARE semi-targets -> for instance the difference between durham/notts and UEA is pretty big.

Reply 19

KLL

Original post by mrkl

You may think it's a myth but the big FIs don't. When you have 1000s of people applying to 1 position then you can afford to be extremely choosy.

Original post by Szmessh

Well, I can only speak from my experience as someone who has gotten FO interviews coming from a non-target with a 2.1 and as someone who is working at a major instiutions and has been involved in recruitment processes. So yeah, I tihnkits a myth.Its not a hard filter HR applies. The elitism comes from the analysts and associates who look through the pre-friltered CVs.