Transcript How to get a Spring Week... - Durham University & Investment

“How to get a Spring Week...”
Tuesday November 16th 2010
Learn, participate & Succeed”
Who we are...
Who we are
Introduction
Mikhel Ruia
President
Economics
Gap Year: Merrill Lynch
Spring Weeks: J.P. Morgan, Morgan Stanley and McKinsey
Summer Internship: J.P. Morgan Cazenove (M&A)
Graduate Offer: J.P. Morgan Cazenove (M&A)
Daniel Lou
Treasurer
Economics
Spring Weeks: RBS, SEO
Summer Internship: Macquarie
Graduate Offer: Macquarie
Learn, participate & Succeed”
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Who we are...
Who we are
Introduction
Alex Challans
Sponsorship Rep FS
Economics
Spring Weeks: J.P. Morgan, RBS
Summer Internship Offer: J.P. Morgan Cazenove (M&A)
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Ardal Gronager
Sponsorship Rep IB
Economics
Spring Weeks: Goldman Sachs, SwissRe
Summer Internship Offer: Goldman Sachs (Sales & Trading)
Learn, participate & Succeed”
Who we are...
Who we are
Introduction
Mohammed Mulla
First Year Rep
Economics
Gap Year: Rothschild
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
• Communicate your voice to the Exec
• Promote all First Year Events
• Increase your involvement
• Answer First Year programme questions and queries
Learn, participate & Succeed”
Who we are
Introduction
Introduction
• Spring Weeks
• Outline of Session
– CV
– Cover Letter
– Competencies
– Aptitude tests
• Tips & Hints
• Questions
• Drinks
Learn, participate & Succeed”
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
What is a Spring Week?
Who we are
Introduction
CV
Cover Letter
Competencies
• Comprehensive introduction to financial Aptitude
Tests
Tips & Hints
services within the Easter break
Questions
• Open to all degree disciplines
• First years or second years on 4 year course
• Demystify any preconceptions and
stereotypes surrounding the industry
• Early recruitment source to spot potential
talent
Learn, participate & Succeed”
Who we are
Programmes...
Introduction
CV
Bank
Area Specific Deadline
URL:
Cover Letter
Yes
02-Jan
www.jpmorgan.com
Competencies
No
31-Dec
www.barcap.com
No
31-Dec
www.morganstanley.com
No
5-Jan
www.bankofamerica.com
Yes
09-Jan
www.goldmansachs.com
No
17-Jan
www.ubs.com
Yes
31-Jan
www.rbs.co.uk
Yes
17-Jan
www.credit-suisse.com
Yes
N/A
www.citibank.com
No
16-Jan
www.nomura.com
Yes
14-Jan
www.db.com
No
N/A
www.ey.com
Learn, participate & Succeed”
Aptitude Tests
Tips & Hints
Questions
CV Structure
• Profile
Who we are
Introduction
CV
Cover Letter
• Education
Competencies
Aptitude Tests
Tips & Hints
Questions
• Work Experience
• Positions of Responsibilities
• Skills and Interests
• ONE PAGE (TWO MAX). DO NOT LIE. BE RELEVANT
Learn, participate & Succeed”
Profile
• Short Profile summarising your skills and how these apply
to the role that you are seeking
No DOB
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Durham Email
Education
• Include
Finance Modules, Quantitative or Language modules if
applicable
• College
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Work Experience
• Anything is relevant if competencies expressed
• Sex it up
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Positions of Responsibilities
• Anything is relevant shows personality
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Skills and Interests
• Express your personality
• Way to provide talking points at interview
• No need to include references
Learn, participate & Succeed”
Cover Letter
Who we are
Introduction
CV
Cover Letter
• Purpose
• Core Structure
– Intro
– Why Program
– Why Bank
– Why Area
– Why You
• The 4 Core: Skills, Competencies & Examples
Learn, participate & Succeed”
Competencies
Aptitude Tests
Tips & Hints
Questions
Who we are
Purpose
Introduction
CV
• Supplement CV as an explanatory tool
• Opportunity to express
– Personality
– Motivation
– Written Clarity
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
• Stand out – CV’s are quite generic
• More important when competency questions
not required
Learn, participate & Succeed”
Who we are
Core Structure
Introduction
CV
Cover Letter
• Introduction
Competencies
Aptitude Tests
– Clearly State what you are applying for:
Research Correct Address of firm
Punctuation Consistency
10, Aldermanbury,
125, London Wall,
London.
EC27 5AJ
Tips & Hints
Questions
Your address,
Your address.
Postcode
Clarifies context
Correct dictation of Name
Program Branding
1st December 2009
Dear Sir,
RE: J.P. Morgan Spring Week: Inside the Industry Application
I am writing to express my interest for a place on the J.P. Morgan Spring Week: Inside the
Industry programme 2010.
Learn, participate & Succeed”
Who we are
Core Structure
Introduction
CV
Cover Letter
• Why Program
Competencies
Aptitude Tests
– Why do you want a place
– Want do you think you will gain from it
– What made you apply
Tips & Hints
Demonstrate: :Research, Motivation
...Having been informed about the programme through the Durham University & Investment and
Finance Group (DUIFG), listening to the experiences of past participants, such as (insert name), I felt
immediately compelled to apply. I see this opportunity within J.P. Morgan as an excellent foundation to
expose myself to the intricacies of such a prestigious company, develop my understanding of the
industry as a whole and pursue my current goal of obtaining a position on your penultimate year
summer internship programme 2011
Expression point Big Picture:
Learn, participate & Succeed”
Questions
Core Structure
Who we are
Introduction
• Why bank
CV
– Knowledge, Research, Understanding
– PUNCHY not generic
– Do not regurgitate website
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
... Given the adversity surrounding the industry and current macroeconomic turmoil, which is hopefully
easing, J.P. Morgan has stood out and further cemented its position as the market leader; especially
within the universal banking model, a model which has crumbled at the likes of Citi and RBS
catastrophically. Jamie Dimon’s inspirational leadership and pursuit of a fortress balance sheet, which at
times was once foreseen as a conservative approach in the bull market of post-2002, has enabled J.P.
Morgan to not only remain stable in the current downturn but make strategic acquisitions of Bear
Stearns and Washington Mutual. This has allowed J.P. Morgan to grow its brokerage and retail franchises
respectively. For an aspiring graduate this has truly set J.P. Morgan apart from its rivals as the place to
be, in such a well led institution. Further, this ability for a firm to organically innovate provides an
environment in which a dedicated graduate can excel. The recent change in management structure
which combined the role of the two co-heads of the investment bank appointing Jess Staley is further
testament to a company continually searching for the competitive edge...
Market Understanding, Context of J.P. Morgan,
Analysis . Research
Learn, participate & Succeed”
Core Structure
• Why Area
– Some programs area specific
– You may already have some preference
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Check division name
...An area of interest which particularly attracts to me to investment banking is risk management. I see
this area as such an exciting field which is entering a new paradigm given the economic climate. Past
models are being completely re-evaluated in the way markets approach risk and entering the industry in
such important period within the history of capitalism I see as compelling especially as I can use my
passion for mathematics within the area...
Continued Market Understanding
Learn, participate & Succeed”
Core Structure
• Why You
– Highlight key skills which you can offer
– Demonstrate them through 3 to 4 examples
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Skill Base:
Questions
Numerical, Analytical, Communicational, Evaluative
Leadership, Enthusiasm for Finance (DUIFG!), Team
Work, Stamina, Drive, Project Based Work,
Linguistic ability, Organisational, Intrigue, Ability to
Synthesize Information, Handle pressure, Ambition,
Determination, Attention to detail, Pure Academics
etc
Stand Out: Do not be generic... Think of interesting
examples.
Learn, participate & Succeed”
Core Structure
Who we are
Introduction
CV
Cover Letter
Competencies
....I consider myself to be a well-rounded team player within any context and situation, which I
hope is shown through my extracurricular interests. My organisational and leadership skills
exhibited last year has led to my appointment as the Hatfield College Table Tennis Captain
08/09, normally a role assigned for a final year student. Taekwondo has installed in me an
inner drive and stamina I feel is very transferable to the modern work environment. This I
hope is demonstrated through my ability to achieve a black belt in less than three years.
My degree (Philosophy, Politics and Economics) requires much evaluative work in order to
synthesise an array of literature. During my Gap Year internship with KPMG, I developed
my numerical skills greatly conducting audits continuously leaving me with an in-depth
knowledge of accounting practice within the professional domain.
Finally, I pursue my intrigue in financial markets through my membership of the DUIFG where I
have been elected as an Analyst on our Fund Team covering the TMT sector where I report
to the Fund Manager my investments ideas within the sector...
How many competencies can you name ?
Learn, participate & Succeed”
Aptitude Tests
Tips & Hints
Questions
Competencies
A competency interview is a style of interviewing often used to evaluate a candidate's
competence, particularly when it is hard to select on the basis of an applicant's past or
previous industry experience, but this is an ineffective tool for graduate level candidates.
Competency based interviews give valuable insights into an individual's preferred style of
working and help predict behaviors in future situations.
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Example competency questions:
•
What makes you suited for the role to which you applied?
•
Give an example of when you've overcome a complex problem with a simple solution?
•
Give an example of when you've led a team, how would you have managed a challenge
to your authority?
•
Give an example of when you've failed in the past?
•
Have you ever had to work in a team with someone who you do not like and did not
work well with, how did you overcome this?
•
Describe an instance where you have delivered more than was expected of you. (150
words)
Learn, participate & Succeed”
Competencies (con’t)
Use the ‘Star’ method for questions where you’re asked to describe a scenario. Outlining the:
•
Situation,
•
Task,
•
Action and
•
Result
Key competencies YOU NEED TO DEMONSTRATE in your application and in interviews:
•
Excellent academic background, at least for the larger banks
•
Strong numerical and IT skills=
•
Stamina and drive to succeed
•
A keen interest in and knowledge of the financial sector and the role you are applying for as
well as current affairs and business in general
•
The ability to work long hours, under pressure and to tight deadlines
•
An ability to grasp complex issues quickly
•
Strong communication and team-working skills
•
Fluency in a European language is an advantage, depending on the role chosen
Learn, participate & Succeed”
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Competencies (con’t)
Highlight your achievements, using facts and figures to give a tangible impression of your successes:
Who we are
Introduction
CV
Cover Letter
Competencies
Vary your examples and attempt to write about things that aren’t the norm:
•
Try not to use an example more than once , and for this example think about for which
competency it could best be used
•
Most people will have led a university project or participated in an extra-curricular activity
team; the more interesting things you’ve done, the more likely your application is to be
noticed.
•
Also try to think of example that are recent, what you did when you were 15 at school really
doesn’t matter
•
However, do not make things up! You may be asked further details about the scenarios at
interview and any embellishments will come out. No-one wants to hire a liar.
•
Go off topic or write irrelevant things – this gives the impression that you have either not done
something suitable or that you have misread the question.
•
Similarly, don't go into too much background detail when answering competency questions.
Your interviewer only wants to know about your past behaviors. Further detail is redundant.
Prepare TWO example for each competency, this way you will be ready if they do not like your first
example of if they are trying to catch you off guard
Learn, participate & Succeed”
Aptitude Tests
Tips & Hints
Questions
Competencies
Now how do you think you would be able to handle to following competency questions?
Describe an instance where you have delivered more than was expected of you. (150 words)
•
Last term I was elected to be my student hall’s bicycle security officer. This was typically
somewhat of a joke position and the previous two position holders had done very little.
However, having had my bike stolen three times whilst at university, I was determined to
break the norm and do more than typically expected of the bicycle security officer. So far
I have managed to negotiate for the local bike shop to give extra 10% discounts to
students for bicycle locks and raised awareness of the issue by liaising with Bristol police
to ensure that free bicycle identification kits are distributed within halls and faculty
common rooms. With only two bicycles stolen from students in my halls in the first half
of this term (compared with 10 last term) the measures seem to have had some success,
which I am hopeful will continue throughout the year.
Learn, participate & Succeed”
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Competencies
Who we are
Introduction
CV
Cover Letter
What do you perceive as your weaknesses? (150 words)
•
Whilst I am very interested in joining the J.P.Morgan Spring Week programme, I am
inexperienced having not previously worked in a business related position or an officebased role. Nonetheless I am hopeful that my passion for the technology sector will help
me to understand the day-to-day elements of the job quickly; I have also come to learn
about the business behind the technology sector through the research I have done in
contributing stories about mobile broadband to the moconews.net blog /website. Also,
having studied History, I am aware that I lack the theoretical knowledge and
mathematical expertise which would help me in the finance part of the rotation scheme.
However, I have been trying to develop my skills in this area through taking a business
module alongside my normal course and by reading some introductory text finance
books.
GOOD LUCK
Learn, participate & Succeed”
Competencies
Aptitude Tests
Tips & Hints
Questions
Aptitude Tests
Who we are
Introduction
CV
Cover Letter
Competencies
• Verbal Reasoning Test
Aptitude Tests
Tips & Hints
• Numerical Test
Questions
• Becoming a standard part of the first stage
screening process along with the CV, Cover
Letter and Competency Based questions
already discussed
Learn, participate & Succeed”
Verbal Reasoning Example 1
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Learn, participate & Succeed”
Verbal Reasoning Example 2
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Learn, participate & Succeed”
Numerical Example 1
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Learn, participate & Succeed”
Answer to Example 1
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Learn, participate & Succeed”
Numerical Example 2
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Learn, participate & Succeed”
Answer to Example 2
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Learn, participate & Succeed”
Tips & Hints – Reasoning Tests
Who we are
Introduction
CV
Cover Letter
Competencies
• Make sure you will not be interrupted during Aptitude
Tests
the test
Tips & Hints
Questions
• 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
Learn, participate & Succeed”
Tips & Hints – Numerical Tests
Who we are
Introduction
CV
Cover Letter
•
•
•
•
•
Competencies
Be careful with units
Aptitude Tests
Tips & Hints
Calculator, rough paper
Questions
Don’t spend too long on a question you are stuck on
Aim for roughly a minute per question
Read financial reports in newspapers, studying tables
of data and practicing your mental arithmetic
• Practise at:
www.shl.com
students.efinancialcareers.co.uk
Learn, participate & Succeed”
General – Tips & 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
• Don’t rush: a spring week can lead to:– £10,000 internship
– £50,000 graduate offer
• Be concise
• Stay in touch with us
Learn, participate & Succeed”
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Who we are
Introduction
CV
Cover Letter
Competencies
Aptitude Tests
Tips & Hints
Questions
Learn, participate & Succeed”