“Spring Week & Internship Workshop” Friday, November 18th 2011

1. “Spring Week & Internship Workshop” Friday, November 18th 2011

2. Who we are... Who we are Introduction Ardal Gronager President Accounting & Finance Spring Weeks: Goldman Sachs (S&T), Swiss Re, BCG Partners Summer Internship: Goldman Sachs (S&T) CV Hugo Tanner Treasurer Modern Languages (Russian & Croatian) Spring Weeks: Barclays Capital & ICAP Summer Internships: Merrill Lynch (PWM), Barclays Capital (IBD) Cover Letter Competencies Aptitude Tests Tips & Hints Questions

3. Who we are... Who we are Introduction Mohammed Mulla Sponsorship Rep Economics Gap Year: Rothschild Spring Weeks: Morgan Stanley CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions James Fournier First Year Representative Law

4. Introduction Who we are Introduction CV Cover Letter • Spring Weeks • Outline of Session • CV • Cover Letter • Competencies • Aptitude tests • Tips & Hints • Questions • Drinks Competencies Aptitude Tests Tips & Hints Questions

5. What is a Spring Week? Who we are Introduction CV Cover Letter • Comprehensive introduction to financial services within the Easter break • 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 Competencies Aptitude Tests Tips & Hints Questions

6. What is a Summer Internship • A 10 week interview by both parties • 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 • Rotations vs. placements

7. Programmes... Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions

8. CV Structure Who we are Introduction CV Cover Letter • Profile • Education • Work Experience • Positions of Responsibilities • Skills and Interests • ONE PAGE (TWO MAX). DO NOT LIE. BE RELEVANT Competencies Aptitude Tests Tips & Hints Questions

9. Profile • Short Profile summarising your skills and how these apply to the role that you are seeking No DOB Durham Email

10. Education • Include Finance Modules, Quantitative or Language modules if applicable • College

11. Work Experience • Anything is relevant if competencies expressed • Sex it up

12. Positions of Responsibilities • Anything is relevant shows personality

13. Skills and Interests • Express your personality • Way to provide talking points at interview • No need to include references

14. 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 Competencies Aptitude Tests Tips & Hints Questions

15. Purpose Who we are Introduction CV Cover Letter • Supplement CV as an explanatory tool • Opportunity to express • Personality • Motivation • Written Clarity • Stand out – CV’s are quite generic • More important when competency questions not required Competencies Aptitude Tests Tips & Hints Questions

16. Core Structure Who we are Introduction CV Cover Letter • Introduction • Clearly State what you are applying for: Competencies Aptitude Tests Tips & Hints Questions Your address, Your address. Postcode 10, Aldermanbury, 125, London Wall, London. EC27 5AJ 1st December 2011 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 2012. Research Correct Address of firm Punctuation Consistency Clarifies context Program Branding Correct dictation of Name

17. Core Structure Who we are Introduction CV Cover Letter • Why Program • Why do you want a place • Want do you think you will gain from it • What made you apply Competencies Aptitude Tests Tips & Hints Questions ...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 2013 Demonstrate: :Research, Motivation Expression point - Big Picture:

18. Core Structure Who we are Introduction CV Cover Letter • Why bank • Knowledge, Research, Understanding • PUNCHY not generic • Do not regurgitate website 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

19. Core Structure Who we are Introduction CV Cover Letter • Why Area • Some programs area specific • You may already have some preference Competencies Aptitude Tests Tips & Hints Questions ...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... Check division name Continued Market Understanding

20. Core Structure Who we are Introduction CV Cover Letter • 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, Handle pressure, Ambition, Determination, Attention to detail, Pure Academics etc Stand Out: Do not be generic... Think of interesting examples. Competencies Aptitude Tests Tips & Hints Questions

21. Core Structure Who we are Introduction CV Cover Letter ....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... Competencies Aptitude Tests Tips & Hints Questions How many competencies can you name ?

22. Competencies Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions 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. 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)

23. Competencies (con’t) Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions 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

24. Competencies (con’t) Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions Highlight your achievements, using facts and figures to give a tangible impression of your successes: 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

25. Competencies Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions 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.

26. Competencies Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions 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 office-based 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

27. Aptitude Tests Who we are Introduction CV Cover Letter • Verbal Reasoning Test • Numerical Test • Becoming a standard part of the first stage screening process along with the CV, Cover Letter and Competency Based questions already discussed Competencies Aptitude Tests Tips & Hints Questions

28. Verbal Reasoning Example 1 Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions

29. Verbal Reasoning Example 2 Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions

30. Numerical Example 1 Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions

31. Answer to Example 1 Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions

32. Numerical Example 2 Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions

33. Answer to Example 2 Who we are Introduction CV Cover Letter Competencies Aptitude Tests Tips & Hints Questions

34. Tips & Hints – Reasoning Tests Who we are Introduction CV Cover Letter • 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 Competencies Aptitude Tests Tips & Hints Questions

35. Tips & Hints – Numerical Tests Who we are Introduction CV Cover Letter • Be careful with units • Calculator, rough paper • 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 www.students.efinancialcareers.co.uk www.dur.ac.uk/careers/s/cvapp/pt/ Competencies Aptitude Tests Tips & Hints Questions

36. General – Tips & Hints Who we are Introduction CV Cover Letter • 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 Competencies Aptitude Tests Tips & Hints Questions

38. Who we are Introduction CV Cover Letter Competencies Aptitude Tests Questions? Tips & Hints Questions