Transcript: Live chat with Jane Clark, head of graduate recruitment Merrill Lynch
Giulio: I heard that Merrill Lynch looks only for graduates that have passed the final university exam with maximum marks. Is this true or only a rumour?
We receive thousands of applications per year. It's a very competitive industry and as such we seek to recruit the best talent available.
Thom: What is the minimum requirement?
In terms of degree we look for a 2.1 or equivalent - more about the international equivalents can be found on the application form when you apply.
Kyra: What makes a candidate stand out in an interview?
Preparation is key to any interview. You must read the company website, also read the application that you've submitted and make sure you remember what you've written!
You also need to have some background knowledge of the investment banking industry, even if you are studying a degree of a different discipline.
I would suggest you read the FT at the weekend - it reviews events in the markets over the previous week. Also, read around the division you have actually applied to and come in to the interview knowing why you're interested in that area.
Bhavin: Aside from reading the financial press and displaying knowledge of and enthusiasm for the banking industry, what else can candidates do to impress interviewers or recruiters at investment banks?
This sounds simple, but turn up on time! I'd also say that people don't always listen to the questions asked in interviews - and some people tend to talk over the top of the interviewer - so make sure you listen to the question and answer it rather than going off the subject.
Padraic Sheerin: Hi Jane, approximately how long after submitting an online application until you find out if you are successful in getting an interview?
It varies from division to division. But every candidate will have received an answer by the closing date.
Martin Ivanov: I've missed out on the opportunity of doing a summer internship and am graduating this coming summer. What are my prospects and how would you advise me to go about applying for a graduate placement? Thanks in advance for answering.
You can apply for a full-time position in 2008: just because you haven't completed a summer internship at an investment bank doesn't mean to say you've ruled yourself out!
Akshay: I did my internship with ML in back office, but I was not selected for the graduate programme. So what other opportunities do I have to pursue a career in investment banking?
Listening to the feedback you receive after an internship is always important. We always give candidates another opportunity to apply if they want to.
Adefoluke: Is there any means of practising a numeracy test that looks like the one you get in the assessment centre?
Yes. There are numerous practice tests. For example, Merrill Lynch sponsors a numeracy test on the student centre of eFinancialCareers.com. It's also worth going to your university's careers service - they often have practice tests.
Peter: Hello Jane, would I be at a disadvantage if I have not studied Economics at an undergraduate level?
We accept applications from all degree disciplines - unless you're applying to technology, in which case we require that students come from a technical discipline.
Julia: What do you do to encourage women into banking?
At Merrill Lynch we have several programmes to attract women into investment banking. ML Uncovered is aimed at A-level students - we try to foster awareness of the opportunities available within Merrill Lynch for female students at the pre-university stage.
Vishals81: I have recently completed my MSc Finance and Management from Cranfield School of Management UK and will be joining a leading bank in Europe as a manager in the area of derivatives. My role will also involve creating tools and applications for clients. Since I have two months before I begin I would like to know what sort of preparation is needed for this sort of a role?
First of all congratulations! It's difficult for me to answer this specifically. In the first instance I'd suggest you give the company that's employed you a call and get their take. I would then do as much background reading as possible on the area of derivatives, and also on current market trends.
Gintare: Hi Jane, I heard that you hire from some specific universities? Therefore, does Lund University (Sweden) suit you? Thanks in advance.
We look for top talent, regardless of the university it comes from. We do target certain universities according to several factors, including league tables, where Merrill Lynch alumni are drawn from, and what each university has to offer in terms of courses taught. We review every application and are happy to hear from you whichever university you are studying at!
Giulio: What sort of question do you ask in an interview?
Most of the questions we ask are competency based - for example, "Tell me about a time when you worked in a successful team to achieve a goal. What made it a success?"
Sarah: What do you love most about working at Merrill Lynch? Thank you.
I work with great people. Teamwork's very important here. The great thing about Merrill Lynch is that it is a meritocracy - you put the effort in and your input is truly recognized. We value difference and protect individualism - it's an opportunity to work with inspiring people from different backgrounds to achieve real results.
Thank you very much Jane, do you want to add a few words to conclude?
Thank you everyone for your interest in Merrill Lynch. We look forward to seeing you on campus this season and to receiving your applications. Good luck!
For more information on graduate recruitment programmes at Merrill Lynch,
