NIGHTMARE Recruitment Process at Nomura Global Markets (15 interviews & Rejected in Final round by HR)

To provide some insight,  I am a recent graduate from a top 50 globally ranked university, with a Bachelor of Commerce. As a Japanese bilingual, I attended the Boston Career Forum, where I received an internship offer from Nomura within their Global Markets division in their Tokyo headquarters.

Upon the completion of the internship (end of May), I unfortunately did not receive a return offer. Oh well, not a big deal. This was until I networked with a few Nomura Sales Trader execs from North America on LinkedIn around August, who asked me from their side if I wanted to join their West Coast operations as an Equity Salesperson. I agreed, and we completed 3 interviews in the span of quite literally 3 months (did 2 in August, and ghosted me completely until late October where they wanted to conduct another), ultimately leading to a phone call from the head of North American operations telling me "we'll give you some advice, you should work at the HQ for a few years and then come over to our branch", like okay 3  months of anticipation for not a rejection, not an offer, but a 5 minute phone call of advice.

I was extremely frustrated about the fact that they took an immense amount of time to conduct the interviews for a position they initially offered me, just to give me some advice that didn't help me in the slightest. 

I thought my encounter with Nomura would end there; let me tell you, that was just the tip of the iceberg. 

Late November rolls around, and the HR rep from Tokyo emails me, asking me if I am still interested in working full-time in Nomura HQ (in Japan). Despite the unpleasantness I felt with their North American team, I still wanted to gain exposure within Sales and Trading and thought that it would indeed be a great opportunity. Furthermore, I was not competing with anyone for the position, so I thought why not. Therefore, I said yes.

Within the span of 2 months, I completed a total of 12 interviews. Yes, I am not making a typo here. 12 interviews.  I am not going to lie, some of the interviewers were extremely nice, and especially the people working on the actual desk I was supposed to be at were absolutely wonderful (shoutout to you guys, I am extremely grateful for your support and kindness), but cmon man lol. 12 interviews are ABSOLUTELY ABSURD. I just cannot see how that is necessary. This cannot be morally correct, especially for an upcoming grad. I have never even heard of this in Bulge Brackets for IB.

The first 6 interviews were online (I'm based in North America), and they told me that I would have to do the final interviews in Japan, which they flew me out for. I was told that 4 interviews would be conducted in person, WHICH WAS A LIE, and I did an additional 2.

Up until the final round, the interviewers consisted of various execs on the trading floor, certain directors, the head of different desks, etc. THE FINAL ROUND, however, was conducted by HR, and I thought that they would simply be providing me with contract information and negotiating start dates. I was dead wrong; I was absolutely drilled by an HR exec who quite literally disliked every single answer of mine (the same answers that got me to the final stage) and was kept for 30 minutes longer than the scheduled interview time. But I got along with the people on the desk I was supposed to work for, I was given the green light from what felt like the entire trading floor, surely I would be fine?

I got a phone call a week later saying the HR person said to cancel my application.

I don't know if this is a cultural aspect specific to Japan or simply a Nomura thing, but no upcoming grad should ever have to go through this. Ever. They made me carry a suit around during Christmas break when I was on vacation in Vegas with my family to do virtual interviews (completely disregarding the fact that I was just trying to spend time with family, not stress about interviews), put me in a constant state of unease as I felt like there was simply no light in the end of the tunnel with interview after interview, was reminded constantly by people in Nomura when I was at the HQ about "hey, if you don't perform well in this next interview, this person can easily reject your whole application and your trip would have been for nothing". This whole process felt like I was getting hazed in a fraternity. 

This process completely ruined my confidence, and I am now considering giving up on this industry; I think S&T is extremely interesting, but another 15 interviews just for the potential chance to break into the field is simply not worth it in my opinion. 

What do you guys think? Any advice, please?

4 Comments
 

This experience sounds like an absolute rollercoaster, and it's no surprise you're feeling disillusioned. Based on the most helpful WSO content, here are some key takeaways and advice for navigating situations like this:

1. The Process Was Overkill, But Not Uncommon in Certain Cultures

  • While 15 interviews are excessive by most standards, it's not unheard of in certain firms or regions, particularly in Japan, where decision-making can be highly hierarchical and meticulous. However, the lack of transparency (e.g., misleading you about the number of interviews) and the HR grilling in the final round are red flags. This isn't reflective of the entire industry but rather a specific firm's culture.

2. HR's Role in Final Decisions

  • It's frustrating, but HR often has significant veto power in some firms, even if the desk loves you. This is why it's crucial to tailor your answers to align with the firm's broader values and culture, not just the technical or desk-specific aspects. Unfortunately, it seems like the HR exec had a different perspective, which derailed your application.

3. Don't Let One Bad Experience Define Your Career

  • It's understandable to feel burned out after such a grueling process, but don't let this one experience dictate your future. Sales and Trading (S&T) is a dynamic and rewarding field, and there are plenty of other firms with more reasonable recruitment processes. Consider this a learning experience and use it to refine your approach for future opportunities.

4. Rebuild Your Confidence

  • The process may have shaken your confidence, but remember that you made it to the final round of a highly competitive process. That alone is a testament to your skills and potential. Take some time to reflect on what went well and what you can improve, and don't hesitate to seek feedback from mentors or peers.

5. Explore Other Opportunities

  • If you're still interested in S&T, consider targeting firms with a reputation for more structured and transparent recruitment processes. Networking remains a powerful tool, so continue building relationships with professionals in the industry. You might also explore other roles within finance that align with your skills and interests.

6. Mental Health and Perspective

  • The toll this process took on your mental health is valid. It's okay to take a step back, recharge, and reassess your goals. Remember, no job or industry is worth sacrificing your well-being.

7. Community Support

  • You're not alone in this. Many WSO users have shared similar stories of grueling recruitment processes, and the consensus is clear: it's not you, it's the system. Engage with the community to gain insights, share your story, and find encouragement.

Ultimately, this experience, while painful, doesn't define your career. Use it as fuel to find a firm that values your skills and treats candidates with respect. Keep pushing forward—you've already proven you have what it takes to compete at a high level.

Sources: https://www.wallstreetoasis.com/forum/asset-management/sales-trading-interview-guide-gekkos-guidance-part-2?customgpt=1, Superday Advice From a Tired Interviewer, Superday Advice From a Tired Interviewer

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Omnis eum molestiae hic. Nemo dolorem magni deserunt veritatis beatae. Id error iste nam sapiente amet enim aut.

Veniam eveniet repellat blanditiis voluptatem quis. Voluptas accusantium reiciendis consequatur dicta eos officiis explicabo. Quod voluptas eum debitis aliquid libero cupiditate explicabo. Aspernatur id consequatur dolorum et consequuntur.

Aut quia exercitationem sunt exercitationem laudantium quia laboriosam. Molestiae maxime nemo esse fugit tempora eum dolor impedit.

 
Most Helpful

Cum laudantium aut recusandae possimus consequatur voluptates harum minima. Voluptatem inventore nulla omnis dolores ullam aut cum perspiciatis. Ullam asperiores rem ipsa ut distinctio debitis. Porro rem dolorem id illo quam ea ipsum. Minus vitae repellendus ab qui ut.

Ducimus dignissimos numquam earum nihil ipsam facilis. Consequatur iure labore voluptates optio eos quae.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.2%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 01 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 05 98.2%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (43) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (75) $151
  • Intern/Summer Analyst (67) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
CompBanker's picture
CompBanker
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
DrApeman's picture
DrApeman
98.9
8
dosk17's picture
dosk17
98.9
9
GameTheory's picture
GameTheory
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”