What’s wrong with this?
I wouldn’t ask it but a lot of people would quit if it was too hectic making you conduct another round of interviewers. Fair play to him i’d say
Unless the function you’re looking to hire for is very heavy quant, why does having a PhD or MS make a difference? In fact, I’d find having an ok PhD to be a detractor if someone from a top school undergrad can do it since I’d assume the compensation expectations would be higher despite lower ability (I mean why bother with theoretical higher education bs if you’re in finance). The last thing I’d want to do is find a “perma-schooler”.
Villnius doesn’t always have a free minute or two…but when he does, he posts a tome on AF about how busy he is at his “we trade bonds here muthafucka” fund that can’t find an admin to get people water/coffee.
Don’t you screen them by phone first? I think that would cut down on many of these…I also agree with your comment on taking a look at hacksaw university grads, many of them may just be thrilled to get a chance.
The role we went to the job boards for was basically trade support. Our shop is a firm believer of promoting within and most trade support people move to the desk in some capacity within 2-3 years. For job requirements we only list a BS, (and as I posted, we ended up hiring an undergrad). But out of the 100 or so “legitimate” resumes we get from the 400, I would say 10 or so are PhD level (typically they just recently defended their doctoral dissertaion and don’t want to stay in academia.) A good 30-40 are MS level, and the rest undergrad. From our perspective of knowing the role will move to the desk, having the “overqualiified” person on trade support is just temporary, and we know we have someone on deck to move to the desk who can handle some of the more exotic stuff. As for compensation, it is not listed in the posting but it is very competitive based on not just the role, but what you bring to the table.
We do some phone interviews if they are not in the area. We will fly you in for live interviews if you advance in the process. But typically, if you can make it in, we would prefer to see you in person.
I contribute to this forum when I get a chance as it breaks up the day. We just finished our futures roll so it’s been slow the past few days, hense my ability to write a novel. I don’t think I posted much in Feb.
And we have a great admin, btw. Who, now that I think of it, probably offers them coffee or water when she first shows candidates to the conference room. …Now I REALLY don’t like the people who accept my coffee or water offer. Too good to accept from our admin? 
CvM, it’s clear your first hater post was just you looking for anything I said to hate on, and that your true reason for it was you felt that I was “putting people down”. You couldn’t be more wrong. Those mistakes people made, anyone can gain from. In a world where finance job competition is fierce, you simply cannot risk any negative bias, not for the jobs where we get over 10,000 resumes and there’s 1 opening. And seriously, showing up late? not being able to speak decently on your own resume and what you did? are those really debatable?. and Implying you want a lot of free time outside of work? If that’s what you really want, go teach 3rd grade public school.
Villnius, it’s great you posted the process you guys use to recruit. It’s pretty similiar to my shop. The simple fact is my internal recruiters get flooded with tons of resumes from all the top schools, which already yields enough to keep the interview meetings totally filled as is. So unless there’s a really strong referral from somewhere, it’s rare we have to look at the pile from a Tier 3 school.
Ask yourself realistically, do you see an employer who has the pick of candidates to choose from say to their recruiting “yes, please make sure to eliminate all the candidates from the top 20 univerisites/colleges.”
so if you want to flame, go ahead. guess what? it doesn’t change the process.
I’m actaully totally ok with candidate saying yes to a bottle of water. If they ask for coffee,cream,and sugar. then we have a problem…
That’s not what he implied though is it?
It’s a stupid move when the employer is holding all the cards and maybe he should’ve done his research but it isn’t an unreasonable request at all.
Has high finance always had such gruelling work hours?
Some interesting insight from hiring managers in here…
Question for ya’ll, is it comes up that a candidate has a kid/kids, is that a big negative mark? Do you actively try seek this info?
I learned in the CFA program that markets are efficient. If your open position is so grand and mighty, I find it hard to believe that the rockstar candidate hasn’t found it yet…hmmm.
^ This is true. Unless there are just no stellar financiers left in the world, there is clearly something wrong if none want to work at Itera’s shop, especially since it’s a top shop . Why aren’t you drawing in the stars? That’s where I’d start in this recruitment puzzle…
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It is not a negative at all to have a family, I would say the opposite here. Our firm promotes a healthy work/life balance. (Yes, you work long hours… I have disclosed my schedule in other posts, but you are also EXPECTED to take vacations periodically and encouraged to cover for others in your group/area so people can go to their children’s sports/school/doctors appts… etc.)
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It’s illegal to ask if someone has children… also how old they are, if they plan on ever having kids, if they are married… If the candidate doesn’t get the job they can claim discrimination. I’m not saying some shops don’t do it. But I know we don’t try to seek this info out.
dude, you have serious reading comprehension problems. I said we got thousands of resumes. we are the ones being stringent on who we let in.
interviewing successfully is key. if he asked me what the normal expected hours were, I would immediately know he was asking a work life balance question, and be 100% fine with that question. but throwing in a comment that you “highly value free time” raises red flags. I have never tried to pry on marriage and family that is indeed illegal
Right, 1000 deadbeats apply and the cream of the crop you let in either show up late or don’t show…that tells me that Top 2 MBAs don’t respect your shop or your open position. Therefore your ‘top shop’ can’t be a GS, MS, or KKR.
Why the hell did you ask then? If your time is so limited and you’re that eager to get interviewing, let them know that and don’t act like you have the extra time.
I seriously don’t give a sh*t if you think I’m a McDonald’s manager. keep hating