How assessment centres are structured, bank by bank

Having made it through the application process, the online psychometric tests and a first round of interviews in your quest to break into investment banking it's easy to then fall at the next hurdle - the dreaded assessment centres.

Designed to test your knowledge of the industry, your reasons for wanting to work in it, teamwork and presentation skills, there are a lot of potential stumbling blocks.

Although broadly similar, each investment bank has variations in the way it chooses to test candidates. Based on conversations with graduate recruiters and students who have undergone the assessment centres, we've created a loose outline of what you should expect at each of the major banks.

If you feel we've missed anything, or have something to add, let us know below

Bank of America Merrill Lynch

Expect a numerical test at the assessment centre regardless of the division you're interviewing for, and a group discussion which is assessed by members of the business. There's usually just a single competency-based interview, according to the bank, but students have reported incidences of a more technical examination.

Finally, there's an individual presentation exercise, which will be assessed by one person from the business.

Barclays Capital

There are no psychometric tests at BarCap's assessment centre, but you may be asked to repeat those you submitted online. Also expect a series of interviews with hiring managers, which will be both competency-based and focused on more technical issues.

There will also be a group activity to test your team-working skills and a group case study and presentation, which will be assessed by the hiring managers from the division you're applying to. You should also anticipate role playing activities and a trading game.

Citi

For full-time positions you'll be expected to make it through two first round interviews before being invited to the assessment centre, whereas aspiring summer interns go straight there.

Once there, expect a numerical and logical reasoning test and three 30 minute one-on-one competency-based interviews, followed by one group discussion and an individual presentation to someone working in the division you're applying to.

Credit Suisse

There are no tests at the Credit Suisse assessment centre, but there are typically two rounds of interviews, competency-based and with individuals from the business. Usually, there are no more than three of these.

There's also a group exercise, where you're expected to work through a problem and present it to a panel of managers from the business. Finally, there's a written case study test.

Goldman Sachs

Goldman declined to comment, but we understand that students applying for investment banking positions are typically subjected to two rounds interviews at the assessment centre. The first is competency based, usually with two interviewers and lasts around 45 minutes.

The second is with people within the division you're applying to, so expect questions more closely aligned with this area to test your knowledge, and also bear in mind these people will be looking to see if your personality will suit the team.

Finally, there's group exercise designed to test your team working and problem solving skills.

JP Morgan

JP Morgan didn't respond to our requests for comment. However, from conversations with students we understand that the assessment centre consists of an individual presentation discussing an issue raised in a recent financial publication, followed by a group exercise, then two interviews - the first competency-based and the second testing your knowledge of and motivation for working in the division you've applied to

Morgan Stanley

The Morgan Stanley assessment centre typically lasts half a day, according to a bank spokesperson, during which time you'll undertake some written tests, between 2-4 one-on-one competency-based interviews (depending on the division you apply to), a group exercise and an individual presentation.

Nomura

There's no testing in the Nomura assessment centre, but expect some vigorous interviewing. For full-time positions, there are seven interviews in total. The first round will comprise three interviews with associates or senior analysts and a case study presentation. The interviews will test your problem solving, team skills, leadership, initiative and communication abilities.

The second round will involve four interviews with more senior staff members - managing directors, executive directors and VPs - and you should expect them to test your knowledge of and motivation for working in investment banking or global markets.

Royal Bank of Scotland (global banking and markets)

Before making to the assessment centre, RBS will invite you to its half day 'ability centre', during which you'll undertake a standard numerical test and something called an ABLE test - essentially a financial reasoning test designed to your ability to absorb a lot of data under significant time pressure. There will also be an interview with someone from the business.

If you're applying for an investment banking or markets role, at the assessment centre you'll be expected to complete a written test, a group discussion and an individual presentation. For banking, they'll also be an interview with a panel, but markets applicants will take part in a trading game instead.

For operations and technology, expect all of the elements of the banking assessment, plus an ABLE test (for ops) and a diagrammatic (or logical reasoning) test for IT.

UBS

The assessment centre kick-starts with a numerical reasoning test and if you make it through this you'll be expected to give a ten minute individual presentation to a panel of people from the business. There are also competency interviews with individuals from the business, the number of which will depend on which division you're applying to.

Finally, you'll be involved in a group discussion and subsequent presentation to a panel from the business.