Career Hackers 2024-2026 Recruitment Primer for Sales & Trading

Latest Recruiting timeline

2025 – 2026

If you have eyes on the target profession, you need to ensure you are submitting your job application in time. Below listed are the timeline where each of the target professions will start accepting applications.

Important note: while it’s important to apply as early as you can, you definitely want to ensure your profile strength is on the required level before submitting your application. Otherwise, even if you are the first applicant submitting the application, you will still not be considered for next rounds. (more tips on your profile to be covered in below sections)

Understanding the Recruitment Cycle –the IB O!er Funnel

Candidates

APPLICATION

• Applicants from all around the world

APTITUDE TEST / VIDEO INTERVIEW

• General skillsets

1st ROUND INTERVIEW

• Technical-focused

SUPER DAY

• Intangibles-focused

SUMMER INTERNSHIP

• 360 assessment

RETURN OFFER

• Top 0.2-0.3% candidates

How Students from Career Hackers

Prepare Di!erently from You

Knowing the o!er funnel to begin with, how are you going to prepare for your recruitment cycle? Below is how our Career Hackers student’s preparation looks like, compared with those who don’t have the program’s support.

How You/Our Students Should Tackle the Weaknesses

If You're On Your Own

Aptitude Test

Your CV / Profile

Technicality / Finance Insights

Source the latest questions on your own

Get quality internships

*Challenge: you first need quality internships to land another quality internship

Identify the actual scope required & Convert textbook knowledge into interview friendly answers on your own

Behavioral Questions

Intangibles

Identify the core issue of your behavioral response, di!erence in key traits required across banks & divisions on your own

Try to be an interesting person on your own

Book a 1-on-1 free consultation with Career Hackers if you haven’t

Our Students

Aptitude Test & Video Interview Database

- Career Strategy Formulation

- Weekly job tracker

- Quality externships

- Theoretical Minimum Series

- Project-based Learning

- Investment Banks Research & Insights

- lliad & Pythagorean Research Teams

- Weekly News & Market Trend Analysis

- Weekly Assessment Centre Practice

- Insights & Speakers Series

- Alumni Network

- Hacking Script Masterclass with Felix & Skylar's review

- Mock interviews with industry coaches

- Intangibles factory

- WhatsApp Group Chats

- Return O!er Masterclass

What You Should Aim for before the Recruitment Season

Before submitting your job applications, you should ensure your overall profile strength is on par with your competition. The baseline standard you should aim for includes but not limits to the below:

Category Standard

Academic Studies

Work Experience

Academic results - GPA: 3.2 / 4.0

Exchange Schools: Ivy League, OxBridge, Russell Group

Brand name and front o"ce internships x 3

Extra-curricular Activities

Soft Skills

Problem Solving

Case competition with ranking Leadership experience

Volunteering

Your own initiatives

Presentation skills – outspoken

Ability to socialize with c-suite o"cers

Solving business cases within time limit as a group

Accounting knowledge (3 statements, commonly used ratios)

Technical Skills

Financial modelling / multiples

Forming insightful market views of your own

Intangibles

Unique value system

Exotic hobbies / personal journey

Getting Your CV Ready

Your CV is basically an investment thesis pitching to the professional firms and convincing them why they should invest their resources in you.

Bad CV Examples

Actual comments from coach:

• This CV layout is not banking-oriented, but creator-friendly rather. This would diminish your chance of being shortlisted for next round.

• At the same time, by dividing your CV into two columns, you would have less space to display your work experience and extra-curricular activities.

• As a fix, you should first put your CV into black-and-white color only, and only have one column of content instead of two. A smarter way to make use of your CV is to leverage 1 column so that you can maximize the space to highlight your key achievements.

Getting Your CV Ready

While the detailed techniques and customized re-writing advisory service are exclusive to students from Career Hackers Pro program, below is an example of how we have transformed our students’ profile from zero o!ers in recruitment season, to landing BlackRock Sales summer internship o!er.

Student Profile – Ivan - BlackRock O!eree

Background:

Year 3 CUHK BBA Student

Failed to land any o!ers during 1st recruitment season Interned in Bank of China, Standard Chartered Bank and 2 non-finance jobs

Primary goal : Breaking into Asset Management

CV Transformation

Before After

Key issues identified

• No Bulge Bracket bank interviews at all in 3rd year

• No narratives and intangibles

• Far from optimizing internship and ECA experience

After Fixing

• Re-written CV line by line with narratives and intangibles

• Got a new internship and applied during recruitment season again

• Got interviewed by di!erent BB banks and AM firms

• Received and accepted BlackRock o!er

Aptitude Test and Video Interviews

Aptitude tests and video interviews are inevitably the first step you need to conquer in order to break into wall street firms nowadays. It is paramount to understand the types of questions and an e"cient way to finish them with high accuracy consistently.

Most Common Types of Apt Tests

Aptitude Test and Video Interviews

Apt test providers and their armoury of tests

Numerical Verbal Logical Situational Personality Game Assessment

Introducing non-conventional apt tests

How to ace

new generation of apt tests

that have no standard answers?

Personality / Psychometrics Situational / Simulation Game Based Assessment

• Research on company & role culture

• Keep your consistency

• There’s no definite right or wrong answer? Actually it does, pay attention to the expression (e.g. do you like to take the lead in a team - if managerial role then you must answer yes)

• Format: Choose most e!ective or least e!ective / conversation like

• Questions revolve around how to interact with clients, priortise your workload, compliance issue, or to perform actual task

• Be prepare for technical questions to specific roles that’ll require understand job duty and knowledge

• May require to read data file and jot quick notes

• Reply email in written form or in video form

• Not about winning the game, but how to show you possess certain personality traits

• Research on company & role culture

• Keep your consistency

Aptitude Test and Video Interviews

Key Tips

Numerical Reasoning

• The maths is usually easy.

• Students usually failed only because of stress.

Verbal Reasoning Logic Test

• Avoid making assumptions and infer things that could not be deduced from the passage

• Do not over invest your time in one particular question that you’re stuck in

• Get familiar with the question types (rotating figures etc.)

Situational Judgement Personality Game-based Assessment

• Questions revolve around how to interact with clients, priortise your workload, compliance issue, or to perform actual task

• Be prepare for technical questions to specific roles

• Research on company & role culture

• Keep your consistency

Major Apt Test Provider - HireVue

Companies seen using:

• Not about winning the game, but how to show you possess certain personality traits

• HireVue is an artificial intelligence (AI)-powered video interviewing and assessment platform.

• Candidates can record video responses to pre-set interview questions

• HireVue uses machine learning algorithms to analyze various aspects of a candidate's interview, including facial expressions, tone of voice, and language, to provide insights and help assess their suitability for a particular role

• Almost all companies that are adopting video interview uses HireVue

Goldman Sachs / Amazon / Cathay / Unilever

Aptitude Test and Video Interviews

How do I pass the AI screening?

What matters more: AI, or the people behind?

Myth

• AI is used to evaluate candidate performance by keywords and facial expression.

Fact

• AI is not that perfect. HireVue even o"cially drop the facial monitoring part. HR will still be the final gatekeeper, looking at each video and do the screening themselves, so how you deliver you story is vital.

Getting into the Game

Misled candidates

Cramming all the keywords into your 2minute speech

Solution for star candidates

Actually preparing a unique story about your experience, and practice accordingly to impress the people behind the machine.

• Use common browsers (e.g. Chrome & Firefox. avoid Safari, Opera, Edge…etc.)

• Ensure good connectivity

• Grant OS privacy permissions

• Check if VPN is necessary if you are in overseas Turn it o! if it is not a must

• Have a clean background

• Check microphone or audio device receiving your sound with good quality

• Avoid disruption by notifications or other people in your apartment / room

• Dress appropriately (business formal recommended for most occasion)

• Notify HR within 30 mins if you encounter any technical issue

Aptitude Test and Video Interviews

How can you prepare Video Interviews beforehand?

Preparation before the Interview

• Source sample questions or FAQs

• Prepare unique story surrounding your experience and the demands of the questions

• Draft a hacking script based on your story

• Practice and time yourself

How long should the Hacking Script be? How many points should I cover?

Q Q A A

Generally, preparation time 0.5-2min answer 1-2mins attempts 1-2 times

Questions that you will run into

Talk about your background

• In 60 seconds, please tell us why we should consider you for an opportunity with Blackstone.

Problem solving & communication skills

• Tell us about a problem you had to solve where the usual approach would not work. What was the situation? How did you approach it? What did you learn from the outcome?

Your aspiration and future planning

• What would you like to accomplish in 3 years’ time at HKJC?

Sense to current market news and a!airs

• What do you think might be the key macro socio-economic-politico risks facing Swire Pacific?

Imaginary/ brainteaser

• If you had £100,000, how would you invest it and why?

Acing Behavioral Interviews

While technical questions are more straightforward and requires less technique in your delivery, behavioral and intangibles questions handling are usually the key to deciding who stands out in final round/Superday interviews.

Below are some quick self-check tips for your preparation. Details and advanced techniques are covered in Hacking Script Masterclass and mentoring calls with Felix and Skylar.

Behavioural Interview Hacking Script

Interview and Technical Mastery

Delivery Intention

Perfect Answer Narrative

1

Why is the interviewer asking this question?

2

3

Is your story attractive and unique enough?

Is the structure appealing enough? Are you captivating enough?

Hacking Script Sample

What is Your Favorite Movie?

Before using Hacking Scripts:

My favourite movie is Interstellar, which talks about space travel.

I love it because it features a ground-breaking narrative which involves space exploration and time travel.

The ultra-realistic visual e!ects also are captivating.

Most importantly, the movie is about love, which is the one thing that transcends time and space.

IBD o!eree real answer at Superday:

My favourite movie is Interstellar.

While most Hollywood blockbusters involving space exploration focus on extravagant fight scenes with endless visual stimulations, the movie aims to provoke us a question: should we keep exploring space for without, or shall we look inward for exploiting within?

Space adventure has long been the pinnacle of human achievement. We thought It helps us conquer the unknown, advance through the big gap and arrive at the promised land. But is it true? Interstellar tells us otherwise.

The space that worth exploring isn’t the one outside is the one inside everyone of us, our existence and the meaning of it. The space is empty and our heart isn’t.

Introduction to Sales & Trading

•

•

•

• Establish / maintain client relationship

• O!er solutions for investors according to investment mandate

• Pitch research / publications / trade ideas

• Funding

• Cooperate with structures to customise solutions

• Execute trades between clients and traders (carry risks)

• Administrative work - check credit limit / bookings / arranging meetings

Introduction to Sales & Trading

Roles & Responsibilities

Sales Cash Sales

D1 Sales

Prime Brokerage Sales

Risk Sales

Derivatives / Exotics Sales

Structured Product Sales Flow Trader Prop Trader

Sales Cash Sales

D1 Sales

Prime Brokerage Sales

Risk Sales

Derivatives / Exotics Sales

Structured Product Sales

• Represent clients to execute deal

• Risk-free for the bank

• Income comes from commission

• Being the counterpart of the client

• Gain bank capital commitment

• Income comes from bid-ask spread / overall PnL

• Use the bank’s own money to make profit through direct investment rather than earning commission and fee by executing on behalf of clients

• Fewer roles post Volker rule

Trader Structurer

• Pricing

• Create Customised Products

• Syndicate bonds / private placement for respective client / issuer

• Pitching solution

• Familiarize with market structures, client segments (especially retail / wealth)

• Work with internal ops / legal / tech to set up the infrastructure

6-7

Introduction to Sales & Trading

An ordinary day at desk be like

necessary

• Pnl reporting

• Risk management

• Funding

Introduction to Sales & Trading

After having brief understanding, which is suitable for me?

Market: Macro / Micro

• Longer term horizon

• Larger market

• Greater types of participants

• Can have shorter term horizon

• Individual company

Macro Micro

Vanilla

• Broad spectrum of potential drivers

• Cross asset correlation

• More focused in country / politics / central bank decisions news

Product: Vanilla / Complex

• Cash equity / stock

• D1 structures

• FX

• Futures

• Rates

• Credits

Complex

• Dig into drivers that impact functions of the company

• Smaller size of market

• More focused on company / sector related news

• Exotic products

• Derivatives (depends)

• Structured products

Skills: Presentation & Interpersonal skills / Risk-tolerance / Mathematical quotient

Interview Recipe

Behavioural + Knowledge + Technical + Presentation

Behaviour Knowledge Technical

• Your passion / purpose

• Why S&T but not AM or IBD

• Describe an experience of handling a tremendous stress

• Market knowledge - what are listed securities

• Market levels - levels of major equity indices; VIX levels; treasuries yields; major currency pairs (EUR/USD, USD/ JPY, USD/CNH); commodities

• The breadth / depth of di!erent markets

• Recent market themes

• Product knowledge - structure

• Potential interests

• Payo! formula

• Risk formula (if helpful) else knowing the greeks are good

• What are the potential drivers of the price actions

Introduction to Sales & Trading Technicality

For each of the asset classes, what students need to master if they want to be the expert in that specific asset class?

• They don’t neccessarily expect you to come in ready but it’s a case of demonstrating interest.

• There is no control over which area of markets the interviewer will come from. They will however know the basics about whatever asset class you say you’re inclined towards.

General Questions

• What is [the bank’s] share price?

• Who are our clients? (i.e. institutional investors, corporates, sovereigns etc.)

• What services do we o!er?

How to make a sales pitch?

Technical Questions

• What are currency pairs?Can you list some common ones? What is a currency forward and how would it di!er from the spot? What are the current levels for EURUSD,GBPUSD? How would a change in the Fed rate change these?

• What is an equity? What is an option? What is a future? What is the Eurostoxx/FTSE/S&P trading at? How would interest rates a!ect this?

• What is a yield curve? What makes a yield curve shallower or steeper? How do the curves change with maturity? What is a Bond? How does it di!er from a loan? How does the price change it interest rates change? How does coporate debt di!er from equity?

• What is the base rate in the UK/Eurozone/US? What does this mean? What does the overnight rate/Libor mean and why is it important? What is a swap? How do interest rates a!ect inflation or economic growth?

Introduction to Quant

A day in the life

• They design and implement complex models that allow financial firms to price and trade securities, so as to generate profits and reduce risk

• They are employed primarily by investment banks and hedge funds

• Because of the challenging nature of the work, quant analysts are in great demand and able to command very high salaries

Di!erent Types of Quants

Quantitative Researcher

• Research di!erent alphas/factors to produce predictive signals as inputs to trading strategies; Design trading algorithms that profit from market abnormalities

Quantitative Trader

• Execute quantitative trading algorithm to profit from market abnormalities; actively monitor strategy and it s associated risk

Quantitative Developer

• Implement trading strategies using various programming language, e.g. C++, Java, Python; Develop low latency trading environment and maintaining connectivity towards di!erent trading venue

0900 Arrive at o"ce

0930 Catch up meeting with Manager/Traders

1000 Morning Research

1300 Lunch

1600 Markets start closing, catch up with traders for PTA

1700 Wrap up daily progress and leave o"ce

Execution Quant

• Design execution algorithms to ensure e"cient order placement that help reduce trading slippage; Conduct Post Trade Analysis to find out attributes of trading costs

Risk Quant

• Develop tools and models to monitor risk of bank/trading position

Modelling Quant

• Develop pricing models and softwares for various assets, ranging from futures, options, exotic products,… etc

Introduction to Quant

Buy Side vs Sell Side Quant

Institutions

Buy Side Sell Side

pension funds, hedge funds, and proprietary firms

Job Nature researching, developing, and implementing trading strategies

Quanlifications trader: undergrad / masters in quant-oriented field research: PhD in math intensive field

Skills required

Linear algebra, di!erential calculus, probability and discrete Mathematics, time-series analysis, machine learning, econometric models, bigdata analysis, Python, Java, C++ or C

Pay solely depends on alpha, whether you can earn money for the firm

Working Hours

banks and consulting firms

create tailor-made securities and hedge complex portfolios for their clients

financial engineering degrees

stochastic processes (Itô calculus) and partial di!erential equations, ordinary di!erential equations, numerical approximations of definite integrals, Taylor series expansions, Montecario Simulations

slightly lower than trader, a bit higher if quant trading

Same across buy sell side and firm specific, trade hours if quant trading

How to break in - Requirements

Can non BBA/Finance/CS/STEM major student work as a quant?

Yes, but not all roles are available. For other roles, may need a more technical degree: Quantitative Researcher Quantitative Trader Quantitative Developer Modelling Quant

• Quant Trading/ Quant Research is open to individuals as long as they know the “golden formula to make money”

• Exception includes firms that uses sophisticated models to generate alpha

• Computer Science

• Mathematics

• Mathematical Finance

• Statistics

Introduction to Quant

How to break in - Interview Questions

JOB EXPERIENCE/ BEHAVIOURAL

• School projects / Case competitions

• Previous internships

• Hobbies / Interests

• Language

FINANCE

• Usually the finance questions will be related to some mathematical formula, e.g: Black Scholes questions, Brownian Motion

PROGRAMMING

• Common Python questions and libraries, some algorithm questions, e.g: Di!erence between mutable and immutable objects in Python?

MATHS / STAT / BRAIN TEASER

• e.g: Probability of getting HHHT in coin tossing?

How to break in - Interview Questions Examples

CASE STUDIES

• Sometimes there will be take home programming assignments, e.g.: Backtesting on specific strategies

Given n is an integer, and n^2 is 1369, what is n?

Introduction to Quant

Market and Hiring Trends

• Market news impact banks/ hedge funds in general, but won’t have specific e!ect on quants

• Firm selection: (Priority)

• Top-tier Hedge funds

• Tier-1 Banks

• Mid-small sized funds

• Lower tier banks

What Our Students Says About Us