GS & Citi Securities
I got interviews with the Securities divisions of both companies but was wondering if there were any tips for nailing these?
Thanks a bunch
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i did both last year, the former being slightly more difficult. theyre two completely different cultures there. just know the market #s (and your opinions on direction), the mental maths, the fit questions (this should be easy by now) and make sure you come off looking intelligent but humble.
But you already knew all of this.
sooo what kind of technical skills are these two companies more likely to ask? CAPM, APT, stuff like that?
Thats not the type of technical questions they will ask, because thats not really what you deal with at S&T.
Technical questions are more likely to be (ones I actually got during SA): -How would you price a CDS? -What is more sensitive to interest rates, a call or put? -Describe how you make money on a delta hedge?
etc etc
Im assuming this is for SA.
Depends who you get. I got a commercial real estate prop desk head for one, and he asked me about DCF, the FX prop guy asked me alot of market related opinions, like where crude oil is going in next year, etc. Another guy was all fit, the "sales vs trading" question, etc. in general tho they like to talk about their own desk and product, so think of good questions for them to show you're paying attention and interested in what he has to say.
That was for GS. For Citi, its a little more laid back but some of them can still be hard asses. it may have more to do with the fact that for GS, my superday was after market hours so we had their full attention whereas for Citi mine was early in the afternoon, right on the trading floor.
Have some good stock picks, long and short. Be on your toes for those riddles and mental maths. and the usual rule is, you need to impress all but one, if not all, of your interviewers that day. the decision is made pretty quick, you'll know a few hours later or the next morning, the latest.
Chances are you're technical and analytical, what'll get you through the superday is your sociability. They know you're a junior and likely know very little, that is what the summer is for anyways.
what is more sensitive to interest rates? I would imagine puts because most of the time you, especially with no dividends, you rarely exercise puts before expiry. However, if interest rates are high enough, exercising the put pre-expiry could be an option
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