I was at my B-School a couple of days ago and chatting with students and placement committee members. The conversation veered to what Investment Banks look for in their interview process.
I remember from chatting with my classmates from 16 years ago, that the IB interviews comprised of quantitative problems involving probability. I also remember speaking with some of these classmates after they joined the I Banks that their job does not really involve all that quant, except a couple who did bond pricing for a living.
I would like to propose a new recruitment for the investment banks. Start the recruitment process with a screening of the documentary 'Inside Job' by Charles Ferguson as the very first step. During the interview ask them what they thought.
Candidates who are shocked by the unfairness of it all are not cut out for I Banking. Candidates with a twinkle in their eye and those wondering, 'You mean I can make all this money at my clients' expense without any chance of being prosecuted? This is awesome. How could I get a piece of this action?" Those are the ones you are looking for.
For any I Bankers reading this, you can contact me directly for a more detailed process based on this algo.
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