Application questions: Tell us about a time when you have led or been part of a successful team

Tell us about a time when you have led or been part of a successful team. What problems did you face? How did you overcome these problems and what was the final result?

Why are they asking this? Unfortunately, having great academics and being a bookworm just isn't enough to break into the financial services sector. Although a 2.1 or 1st will open more doors, the real secret to success in the workplace is how you build relationships and manage upwards, downward and sideways within a team. This is why this question holds so much weight in the investment banking recruitment process. Much of your answer will show how likely you are to succeed.

How should you answer? Don't fall into the trap of thinking you should spend the majority of space on the form talking about what went right. The real emphasis in the question is actually what went wrong and your role in facing these issues head on and solving them. Again, the real truth of the business world is that very few projects run smoothly, even if they end up delivering a positive end result. Typically, personnel problems, external influences and poorly thought out plans are to blame for most issues.

So think back to what actually went wrong, describe your actions and also add in the 'learnings' that you would take to future projects - for example "in future I would research my market more thoroughly" or "I would ensure there was enough in the budget for contingencies."

And what mistakes should you avoid? You should avoid making yourself seem like some latter-day business svengali, who is always in the right. Apportioning blame solely to others is a bad management technique and a trait loathed by most team members in the real world. So cast a critical eye over the whole scenario but don't let yourself down by becoming too involved in whose fault it was. After all, a good team player or leader pulls everyone together for a common goal.