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Can a person on a Grad scheme apply to other grad schemes?

 
#1 Can a person on a Grad scheme apply to other grad schemes?
04/03/2008 23:55

Me

Can a person on a graduate scheme at a big-4 (auditors) Consultancy (the one with the biggest consultancy arm) apply for Trading/Sales grad schemes at Tier-2 Investment Banks? (Which will start when their current grad scheme ends). How successful are they likely to be?

Assume a strong interest in financial markets, very good academics, and a strong ability to sell themselves.

Thanks,

Me

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#2 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 02:50

Anon to Me (#1)

Yes. If you've got good academics as you say you have then you should get through to interview stage. After that then it's very competitive as you well know.

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#3 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 07:21

Me to Anon (#2)

Thank God, that's so good to hear. Consulting's a great job, but I've realised it's not for me... The uncertainty and inability to shape your own career, and the constant travel, means that I just cannot do it...!

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#4 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 09:22

fg to Me (#3)

What position will you be applying for....grad?

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#5 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 09:30

anon to fg (#4)

You can definately do this.

I'm just over a year in with my Big 4 programme and am leaving to join a grad programme in September (after 18 months) in the markets.

Just have good reasons for why you want to leave as you will get asked in interviews.

You're too late for this years intake incidentally.

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#6 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 09:59

Me to anon (#5)

I'm happy applying to the grad schemes.

I'm in the first year of my grad scheme, so am planning to apply for the 2009 intake, which will mean I can see through the scheme here. I'm a bit worried that I may be seen as a 'career hopper' though, as I did the Teach First scheme before joining here... May be difficult to justify ANOTHER career change..!

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#7 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 10:01

Do to anon (#5)

Congrats on the move. How did you go through interviews whilst still working? There's only so many sick days you can take off. Or did you leave then apply? Could you give some more insight into your background, skills and how you made this move - for the eager whipper snappers

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#8 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 10:06

anon to Me (#6)

Maybe you need to think about what you want from your career then. Are you going to get what you want out of sales and trading or are you going to get frustrated with that and leave also?

These are questions I had to ask myself when doing the milkround again and a bit of sel-analysis will help you.

I too was concerned about leaving my programme after 18 months rather than 2 years but I don't think it'll matter too much.

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#9 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 10:14

Me to anon (#8)

Well Teach First was a 2 year scheme, so that came to an end. What I'm finding frustrating about Consulting, rather than the work itself (which I actually really enjoy) is the lack of specific skills I'm learning - It's all a bit too general, with no specific focus to my career. Also, the travelling is affecting me a lot more than I thought it would. I'm presuming that's not a good enough reason to put forward in an interview though...!

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#10 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 10:35

s to Me (#9)

How do you get away with all the interviews whilst still working?

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#11 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 10:45

Me to s (#10)

I don't know...! Days off, doctor's appointments?

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#12 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 11:03

s to Me (#11)

Yes, but I've been looking at this as well and have isolated about 30 firms. Let's say I get interest from a third (8) (I've got a strong CV: Ox, lots of extra curric, leadership etc). Psychometrics won't be a problem, so there will therefore be, on average, one first round and one assessment centre. Being optimistic, let's say I make it to the final round of 1/3 of these (3ish). That means I will have had 8 first round, 3 second round and hopefully an offer somewhere. That means 11 interviews over the course of 2-3 months. Add to this the fact there may be extra interviews dotted in for certain companies and you're looking at 15 interviews. This sounds a bit unreasonable to take off as sick days in this space of time, especially because they are unlikely to be consecutive days. Sure, if you're good you can apply to a few, nail them and get in...but going through the consulting process you must know how much of a numbers game the application process is.

So, save scheduling multiple interviews over consecutive days, how would you explain the time off? There may well be telephone interviews for some, but I'd guess you're going to have to come face to face with a firm at least twice.

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#13 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 11:12

Me to s (#12)

I'm only going to apply to 6 firms. For Consulting, only applied to 3... Got offers for all. I know banking interviews maybe one step up (specially since I only applied to Tier 2 consultancies), but I reckon if you prep well enough, and are good enough, then the number of interviews you have shouldn't be too much of an issue. I don't agree with the numbers game principle; do a few, and do them properly.

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#14 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 12:24

s to deleted (#0)

Fair enough. If you're good enough then I guess that's the way forward. I'd be interested to know whihc banks you have selected though, and why. Also, what section of consulting are you in, and what has your work experience been like?

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#15 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 12:29

Me to s (#14)

Definate banks (because I have contacts there):

JP Morgan

Credit Suisse

Lehman

And then I was thinking 3 tier-2 banks - Havn't started research yet, but along the lines of BarCap, HSBC

Experience is Teach First and Consulting (Operations), and an internship in Credit Suisse (middle office)

What about you?

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#16 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 12:51

s to Me (#15)

One year at a strat boutique, not much experience in financial products. There are quite a few few Tier 2 and boutique banks with solid grad schemes. You're lucky to have contacts in those BB - did you get them through projects?

Having one year of consulting behind you (especially if it's in financial areas) will do wonders if you get the interview. The only problem is, I don't know whether BB and even well established Tier 2 banks will consider a grad with 12-18 months under his belt for interview. I'm hoping it won't be a problem.

I may even start doing more of this fantasy trading malarkey, it seems to go down well.

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#17 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 13:14

Question for me to s (#16)

Hi Me,

Out of curiosity how old are you now? My guess is 4 years post graduate and say this was after 1 years intern then around 26/7.

Do you think that this will be frowned upon when joining a grad scheme? I am in a similar position and just wonder whether you think, rightly or wrongly, it makes any difference?

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#18 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 16:52

anon to Question for me (#17)

26/27 isn't too old but you will be old by comparison.

Most of the people I interviewed with were at uni. Don't let that hold you back though, it'll do you favors in front of clients.

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#19 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 16:58

Me to anon (#18)

Contacts are from projects, friends who have joined, people from work experience, etc.

I'm 23.

A lot of banks will consider ppl with work experience - that said, some won't. Never understood the rationale for not doing so, but hey,

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#20 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 17:06

Question for me to Me (#19)

23? I guessed older. 18 when start uni (4 years including placement) = 22. Teach first = 2 years. So that's 24. Add on 18 months at big 4 = 25/6.

Did you also drop out Teach first or are you Dougie Howser MD?

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#21 RE: Can a person on a Grad scheme apply to other grad schemes?
05/03/2008 17:33

Me to Question for me (#20)

Internship wasn't a full year, was 3 months b/w years - was 21 when I finished uni, just turned 23 when I finished Teach First, and am 23 now, in my 1st year of grad scheme!

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