Internship and Graduate Applications Workshop 2013
Introduction
• Outline of Session
– CV
– Cover Letter
– Aptitude Tests
– Competencies
• Interview Process
• Questions
What is a Summer Internship?
• A 10 week interview by both parts
• A great opportunity to sample the lifestyle of a
career in the City
• Open to all degree disciplines
• Penultimate year students as well as recent
graduates
• Rotation vs. placements
Firm
Internship
Graduate
Barclays Capital
31st December
15th November
Morgan Stanley
1st December
-
Bank of America
Merrill Lynch
12th December
-
Goldman Sachs
1st December
-
J.P. Morgan
8th December
10th November
RBS
31st January
15th November
UBS
29th December
10th November
Credit Suisse
11th December
17th November
Citi
27th December
-
Nomura
12th January
1st December
Deutsche Bank
30th December
17th November
EY
Rolling
Rolling
ICAP
26th January
24th November
BNP Paribas
31st December
30th November
CV Structure
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Profile
Education
Work Experience
Positions of Responsibilities
Skills and Interests
• One Page (Two max). Don’t lie. Be relevant.
Profile
Education
Work Experience
Positions of Responsibility
Skills and Interests
Cover Letter
• Purpose
• Core Structure
– Intro
– Why Division & Program
– Why Bank
– Why You
Check if letter has specific addressee – otherwise
‘Dear Sir/Madam’
Purpose
• Supplement CV as an explanatory tool
• Opportunity to express:
– Personality
– Motivation
– Written Clarity
• Stand out – CVs are quite generic
• More important when competency questions
are not required
Core Structure
• Introduction
– Clearly state what you are applying for
Core Structure
• Why Program
– What made you apply
– Why do you want a place
– What do you think you will gain from it
Core Structure
• Why Area
– Some programs area specific
– You may already have some preference
Core Structure
• Why bank
– Knowledge, Research, Understanding
– PUNCHY, not generic
– Do not regurgitate website
Core Structure
• Why You
– Highlight key skills which you can offer
– Demonstrate them through 3 to 4 examples
• Skill Base:
Numerical, Analytical, Communicational, Evaluative, Leadership,
Enthusiasm for Finance (DUIFG!), Team Work, Stamina, Drive,
Project Based Work, Linguistic Ability, Organisational, Intrigue,
Ability to Synthesize Information, Determination, Attention to
Detail, Pure Academics, etc.
• Stand Out: Do not be generic…Think of interesting
examples
Core Structure
General – Tips and Hints
• Spelling and Grammar
• The company name e.g. J.P. Morgan not
Jpmorgan, JPM or J P Morgan
• Be careful when copying and pasting
• Make every word count
• The applications can lead to
– £10,000 internship
– £45,000 graduate offer
• Be concise
• Stay in touch with us
Aptitude Tests
• Verbal Reasoning Test
• Numerical Test
– Ratios, percentage calculations, exchange rates,
inflation and proportion
• A standard part of the first stage screening
process along with the CV, Cover Letter, and
Competency Based questions already
discussed
Verbal Reasoning Example 1
Verbal Reasoning Example 2
Numerical Example 1
Answer to Numerical Example 1
Numerical Example 2
Answer to Numerical Example 2
Reasoning Tests – Hints and Tips
• Make sure you will not be interrupted during
the test
• Don’t ponder too long on any question, make
an educated guess and move on
• True/False given information / Cannot say
without more info, don’t try to infer
information
• Read broad sheet newspapers, reports and
business journals
Numerical Tests – Hints and Tips
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•
•
•
•
Be careful with units
Calculator, rough paper
Don’t spend too long on one questions if you are stuck
Aim for roughly 1 minute per question
Read financial reports in newspapers, studying tables
of data and practicing your mental arithmetic
• Practice at:
www.shl.com
www.students.efinancialcareers.co.uk
www.dur.ac.uk/careers/s/cvapp/pt/
Competencies i
Competencies ii
Competencies iii
Competencies Example 1
Competencies Example 2
Telephone Interview
• Usually 30 minutes
• Every interviewer is a business representative –
not HR
• Mixture of competency and technical knowledge
• Keep CV, Cover Letter, and basic notes in front of
you
• Speak slowly, clearly and concisely
• Don’t be afraid to pause
• Smile!
Telephone Interview
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Answers to competencies
Why the firm
Why the division
Why you
Recent financial news
Market overview
– Exchange rates
– Oil & Gold prices
– Inflation rate
• A stock / live deal you are interested in
Assessment Centre
• Usually ½ or 1 day long
• The whole day is assessed, including lunch
• Generally consist of:
– Repeat Numerical Testing
– Group Exercise
– Individual Presentation
– One to One Interviews