No interviews for S&T

I’ve sent around 100 applications for S&T/markets roles (internships and graduate positions) and haven’t gotten a single actual interview (only HireVues). My resume follows the WSO template, I have a near-perfect GPA, and I’ve got multiple somewhat relevant internships, including one in investment banking at a BB.

That IB internship was a while ago and I realized I didn’t want to do banking long term. I’ve always targeted S&T but got accepted for the IB internship, which was my second choice, and I took it since I didn’t have anything else at the time. I turned down the FT offer because I didn’t enjoy the work and wanted to move back toward markets.

I’ve mostly been targeting London from continental Europe, casting a fairly wide net firm-wise but focusing mainly on macro products. Curious what everyone else’s experience has been lately and how the overall S&T market is looking.

8 Comments
 

Based on the most helpful WSO content, your situation reflects some of the challenges many candidates face when targeting S&T roles, especially in the current market environment. Here are some insights and actionable advice:

1. Challenges in the S&T Market

  • Automation and Headcount Reduction: The S&T industry has been under pressure due to automation and reduced wallet share, leading to fewer roles and more competition. Many banks are reallocating resources to other areas, as highlighted in WSO threads.
  • Macro Products Focus: While macro desks (e.g., rates, FX) are still relevant, they are also among the areas where automation and electronic trading have had significant impacts. This could mean fewer entry-level opportunities compared to other desks.

2. Resume and Application Strategy

  • Relevance of Experience: While your IB internship at a BB is impressive, S&T recruiters may not see it as directly relevant. Highlight any market-related tasks or transferable skills (e.g., risk analysis, market research) from your internships.
  • Targeting Specific Desks: Consider broadening your focus beyond macro products. For example, less liquid asset classes (e.g., credit, commodities) may offer more opportunities as they are less susceptible to automation.
  • Networking: S&T hiring often relies heavily on networking. If you haven’t already, leverage LinkedIn, alumni networks, and industry events to connect with professionals in the field. Personal referrals can significantly increase your chances of landing interviews.

3. Interview Preparation

  • Technical Skills: Ensure you’re well-prepared for technical questions, especially around coding (Python, VBA) and quantitative skills, as these are increasingly valued in S&T roles.
  • Behavioral Fit: S&T roles often require quick decision-making and strong communication skills. Be ready to demonstrate these traits through examples in your past experiences.

4. Market Trends

  • London S&T Market: The London market remains competitive, with many candidates targeting it from across Europe. However, some WSO threads suggest that the economic environment and regulatory changes have made hiring more selective.
  • Alternative Paths: If direct S&T roles remain elusive, consider roles in risk, treasury, or even quant trading/programming as stepping stones. These can provide relevant experience and make you a stronger candidate for future S&T opportunities.

5. Next Steps

  • Refine Your Applications: Tailor your resume and cover letters to emphasize market-related skills and experiences. Use the WSO template but ensure it’s customized for each role.
  • Expand Your Search: Look beyond BBs to include smaller firms, prop trading shops, and even rotational programs in physical commodities trading, as these can offer valuable exposure.
  • Seek Feedback: If possible, get your resume and application materials reviewed by professionals or through services like WSO’s resume reviews.

The S&T market is undoubtedly challenging, but with a strategic approach and persistence, you can improve your chances. Keep pushing, and don’t hesitate to explore adjacent roles that align with your long-term goals.

Sources: Q&A: The Future/Current State of S&T - BB VP Macro Trader, The Efficient Career Hypothesis: Almost All Jobs Are Priced In, Is S&T still a good career path?, Q&A: The Future/Current State of S&T - BB VP Macro Trader

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

We’re still hiring plenty. If you’re getting Hirevue invites, your problem isn’t in your resume or experience.

Record yourself answering Hirevue questions and watch it back. If you were a first-year analyst, would you send this person to meet with your boss? If your answer is “no”, then you have work to do.

 
Most Helpful

I've been mentoring quite a few candidates recently with profiles very similar to yours—strong GPA, relevant internships, solid resumes—and yet many consistently stumble at the HireVue stage. It’s become one of the biggest hurdles I focus on with mentees, especially for S&T roles.

The issue often isn’t the resume—it’s how candidates come across in a 2-minute video. HireVue heavily weights structure, delivery, and market fluency. If your answers aren’t crisp, conviction-led, and framed with clear logic (e.g. thesis–evidence–implication), it’s easy to get filtered out before a human even reviews your application.

For macro-focused roles, you need to show you track markets, form views, and think in terms of risk and positioning. That doesn’t mean being flashy—it means being clear, decisive, and relevant.

I’d also suggest recording yourself answering typical HireVue questions and reviewing tone, pacing, and structure. It’s a skill in itself, and one that can make all the difference.

Hang in there—your background is strong, and with a few tweaks to how you present it, you’ll be much better positioned to convert those HireVues into interviews.

Good luck!
 

 

Thanks for the insight, really appreciate it. Funny thing is, I actually got past a few HireVues and into first-round interviews last season, even though I had fewer and less relevant internships and wasn’t as good at them back then. Since then I’ve practiced more, recorded myself, and worked on improving my structure and delivery.

That’s why I’ve been a bit confused this time around, since I felt more prepared and had a stronger profile overall. I’ll keep improving how I come across on video and keep on applying, your points definitely gave me a few things to think about. Thanks again for taking the time to write that out.

 

Makes sense—and I’ve seen that happen too. Sometimes stronger profiles raise expectations, and even small shifts in tone or pacing can affect AI scoring more than you'd think. Keep refining how you frame your views and deliver with punch. You’re clearly close. All the best!

 

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