Navigating the quant trading new grad / intern hiring process
Summary
TLDRIn this video, Coding Jesus offers insights into the new grad and intern hiring process for software engineering, Quant Trader, and Quant Researcher roles in the US. He covers initial online assessments, behavioral interviews focusing on EQ and fit with the firm, and the importance of preparing for technical rounds. Tips include practicing coding problems, understanding firm culture, and showcasing personal stories and motivations. The video also advises on how to answer behavioral questions effectively using the STAR method and emphasizes the significance of demonstrating coachability, initiative, and perseverance.
Takeaways
- đ The video discusses the hiring process for new grads and interns, particularly in the US, focusing on software engineering, Quant Trader, and Quant researcher roles.
- đ The initial hiring stage often involves an online assessment with timed coding questions or a single non-timed problem to solve and return.
- â± For software engineering positions, candidates should aim to solve medium-level problems in under 20 minutes and easy problems in under 10 minutes.
- đ The Quant Trader and researcher assessments usually involve numerical sequences, statistics, and probability questions, with preparation involving focused problem-solving in these areas.
- 𧩠Some assessments may also include IQ-type questions, even if not formal IQ tests, to evaluate logical reasoning and pattern recognition.
- đ€ Following the online assessment, there's typically an HR call focusing on behavioral questions to assess EQ and cultural fit within the firm.
- đ Three essential questions to prepare for in the HR interview are: 'Tell me about yourself', 'Why do you want to work here?', and 'Why are you interested in quantitative trading?'
- đ It's crucial to craft a compelling story for 'Tell me about yourself', linking your educational background and interests to your pursuit of a career in finance.
- đą When explaining why you want to work at a particular firm, focus on the firm's culture, something you've learned about them, and how they've reacted to industry events.
- đĄ For the 'Why Quant trading?' question, consider discussing the cutting-edge technology used, the performance-driven nature of the role, and the intersection of markets and technology.
- đšâđ« The technical interview may revisit problems from the online assessment, asking for explanations and solutions, or present new problems to solve.
- đ Demonstrating qualities like coachability, initiative, and perseverance, especially for junior or intern roles, is as important as technical skills.
Q & A
What is the initial part of the new grad and intern hiring process discussed in the video?
-The initial part of the hiring process involves an online assessment that may include timed coding questions or a single non-timed problem to solve and send back to the company.
What is the suggested time frame for solving medium and easy problems during online assessments for software engineering roles?
-For software engineering roles, the suggestion is to solve a medium problem in under 20 minutes and an easy problem in under 10 minutes.
How does the online assessment for a Quant Trader or Quant Researcher differ from that of a Software Engineer?
-The online assessment for a Quant Trader or Quant Researcher focuses on numerical sequences, statistics, probability, etc., and may include problems related to these concepts.
What type of questions might be included in the online assessment to test IQ-like skills?
-The online assessment might include questions that present a sequence of pictures to identify the next logical picture or shapes to determine which piece fits into a given shape.
What is the purpose of the HR call in the hiring process?
-The HR call is meant to assess behavioral aspects, such as EQ (Emotional Quotient), and the candidate's fit with the firm.
What are the three key questions that a candidate should prepare for during the HR call?
-The three key questions are: 'Tell me about yourself', 'Why do you want to work here?', and 'Why are you interested in quantitative trading?'
What should a candidate's response to 'Tell me about yourself' include?
-The response should be a concise story of at most a minute and 15 seconds, focusing on how the candidate got interested in finance and why they are pursuing it as a career.
What are some topics a candidate might discuss when answering 'Why do you want to work for this company?'
-Topics might include the firm culture, something learned about the firm online, and how the firm has reacted to industry events.
What is the STAR-based approach for answering behavioral questions in interviews?
-The STAR-based approach stands for Situation, Task, Action, and Result, which helps structure the response to behavioral questions.
What are some technical topics that might be discussed in the technical assessment for junior or intern roles?
-Topics might include data structures, algorithms, time and space complexity, and specific technical problems from the online assessment.
What skills are recruiters looking for in addition to technical skills for junior or intern roles?
-In addition to technical skills, recruiters are looking for qualities like coachability, initiative, and perseverance.
What advice does the video give for the final round of interviews for junior or new grads?
-The advice includes being prepared to discuss option trading, financial market experience, handling stress, and staying updated with financial news.
How does the video suggest handling the 'Tell me about a time when...' type of questions?
-The video suggests using the STAR-based approach to structure the response, focusing on personal actions and the outcomes, whether positive or lessons learned.
What is the importance of asking questions at the end of the interview according to the video?
-Asking questions at the end of the interview shows engagement and interest, but it's important to be mindful of the interviewer's time and not ask too many.
Outlines
đ New Grad and Intern Hiring Process Overview
Coding Jesus introduces the video's focus on the hiring process for new graduates and interns, particularly in the US, for software engineering, Quant Trader, and Quant Researcher roles. He emphasizes the importance of understanding the process, which typically begins with an online assessment involving timed coding questions. For software engineering, he suggests practicing to solve medium-level problems within 20 minutes and easy ones within 10. For Trader and Researcher roles, the assessment focuses on numerical sequences, statistics, and probability. He also mentions the inclusion of IQ-like questions and advises viewers on how to prepare for these assessments.
đ HR Call and Behavioral Interview Tips
The second paragraph delves into the HR call stage of the hiring process, which involves behavioral questions aimed at assessing a candidate's EQ and cultural fit within the firm. Coding Jesus stresses the importance of preparing for common questions such as reasons for interest in the company and the Quant trading field. He provides guidelines for crafting a compelling 'tell me about yourself' story and suggests focusing on firm culture, specific news events, and personal alignment with the firm's values when explaining why the candidate wants to work there.
đĄ Technical and Behavioral Assessments for Juniors and Interns
In this paragraph, Coding Jesus discusses the technical assessment phase of the hiring process for junior and intern candidates. He explains that this stage may involve revisiting and explaining solutions to previous online assessment questions or tackling new problems. For Trader and Researcher roles, this could include discussing pet projects and financial market knowledge. He also highlights the importance of demonstrating soft skills like coachability, initiative, and perseverance, and advises using the STAR method (Situation, Task, Action, Result) to answer behavioral questions effectively.
đ Final Interview Insights and Personal Advice Offering
The final paragraph provides insights into the final interview round for junior and new graduate roles, which is similar for both Researchers and Traders, with a focus on in-depth technical knowledge and market understanding. Coding Jesus advises candidates to stay updated with financial news and to be prepared to discuss their trading experiences and market insights. He also mentions the importance of asking insightful questions at the end of the interview and offers personal advice through his Patreon and Discord channels for those seeking more tailored guidance.
Mindmap
Keywords
đĄNew Grad and Intern Hiring Process
đĄOnline Assessment
đĄSoftware Engineering
đĄQuant Trader
đĄQuant Researcher
đĄBehavioral Questions
đĄTechnical Round
đĄPet Projects
đĄSTAR Method
đĄOption Pricing
đĄVolatility Surface
Highlights
Discussion on the new grad and intern hiring process in the US for major firms.
Online assessment as the initial step for software engineering, quant trading, and research roles.
Online assessment may include timed coding questions or non-timed problem-solving.
Practicing for online assessments: medium problems under 20 minutes, easy under 10 minutes.
Quant trader and researcher assessments focus on numerical sequences, statistics, and probability.
Online platforms for interview preparation in quantitative trading.
Sample problem: Probability of getting four heads in six coin flips.
Inclusion of IQ-type questions in some online assessments.
HR call focusing on behavioral questions to assess EQ and company fit.
Importance of EQ in software engineering roles beyond technical skills.
Three key behavioral questions to prepare for: tell me about yourself, why work here, and interest in quantitative trading.
Guidelines for crafting a compelling 'tell me about yourself' story.
How to discuss firm culture, industry knowledge, and personal alignment with the company.
Technical assessment for junior and intern levels, including revisiting online assessment problems.
STAR method for answering behavioral questions: Situation, Task, Action, Result.
Importance of showcasing personal actions and learnings in behavioral interviews.
Final interview round similarities between junior, researcher, and trader roles.
Customization of the interview process by different firms and the importance of adaptability.
How to engage with the presenter for more personalized advice through Patreon and Discord.
Transcripts
what's up guys coding Jesus here guys in
today's video I would like to discuss
the new grad and intern hiring process
which is really either starting or in
full swing currently at least in the US
at all major firms so if you're
interested in what that process looks
like what you can expect Etc then I
really recommend you watch this video
cuz not only am I going to be talking
about the software engineering
perspective but also the equivalent
Quant Trader and Quant resear researcher
variants of that process okay so let's
start off with the software engineer and
this initial part of the process is
going to be very similar for all three
rules the first part of the process what
you can expect is going to be an online
assessment that online assessment may
vary by firm but what it usually
includes is some sort of timed
assessment where you have two questions
lead code like questions you might have
one easy two mediums you might have just
two mediums you might have two easys you
might have one hard problem another
variant of this is to just give you a
single problem in a non-timed fashion
and just say solve it and you know send
us back the solution whenever you're
done all right so there's a couple
different variations here my general
Insight here is in order to practice for
these online assessments from the
software engineering perspective you
should be able to do a medium and under
20 minutes and a easy in under 10
minutes all right that's my suggestion
now what is the equivalent Trader or
researcher variance the trader and
researcher online assessment is actually
quite similar there might be a bit of
nuance between them but in general they
focus on numerical sequences statistics
probability Etc how do you best prepare
for that you best prepare for that by
doing problems focused around those
Concepts there's a bunch of different
platforms online that can provide you
with that sort of interview preparation
for quantitative trading and let me give
you an example problem let's say you
have you know six coins and you flip
each coin successively Flip Flip Flip
Flip Flip right you do that six times
what is the probability that amongst
those six coin flips four of those end
up being heads right that might be a
problem that you might need to to face
just a sample some of these online
assessments also include IQ type like
questions so they're not per se giving
you an IQ test I know that there's
probably some like legality as to
whether or not IQ tests are even legal
in certain States but they will give you
like a quasi IQ not really IQ test so
they will give you a sequence of various
pictures and they will say well what's
the next logical picture or they will
give you some sort of shape and they
will show you at a various angles and
they will say which piece fits in this
shape so you'll need to answer that okay
the next stage is usually some sort of
call with HR that call involves
questions that are behavioral in nature
and it's just trying to assess your EQ
and the sort of fit you have with the
firm what do I mean by EQ well a lot of
software Engineers you know they might
be strong technically but they might
just be really awkward and not able to
speak to people or communicate ideas
properly this is where some people that
are really strong in the tech technal
side but not so great on the behavioral
side are going to struggle so they'll
ask you questions for example like how
did you how do you know about our firm
they'll ask you questions like why are
you interested in this company why you
interested in Quant trading Etc this
will apply for all rules so Trader
researcher software engineer if there's
three questions that I will tell you
that you need to prepare for this round
at all costs it's going to be these
three questions tell me about yourself
why do you want to work here and why you
interested in quantitative Trading it
doesn't mean they're asking you what's
your background in quantitative trading
they're asking you why are you
interested in this space now let me give
you a couple of guidelines for this in
order to Ace this part okay tell me
about yourself should be a story and it
should be a story of at most a minute
and 15 seconds when I say story I'm not
telling you know recite your life
tragedy in the history and uh you know
you were had struggling with addiction
and battling with no don't do that what
the story should be about is how you got
interested in the world of
finance and why you are looking to
pursue it as a career so you might want
to start off speaking about what school
you went to what program you were in why
you decided to learn that how learning
about you know Finance or computer
science or philosophy in school LED you
to quantitative trading and how that
ultimately ultimately LED you to the
interviewer that's sitting right in
front of you okay so that's something
you're going to want to
do another thing another guideline
you're going to want for the next
question which is tell me why you want
to work for example at this company is
you want to bring up two to three things
these two to three things each should be
related to one of the following topics
one is the firm culture another is
something that you've learned online
about the firm and another thing might
be about
the uh industry and how the firm has
reacted to set XYZ event these are just
examples you don't have to act follow
these word for word these are just
examples now let me give you an instance
of one of each so for example you might
have spoken to person XYZ at the firm
over a cup of coffee and while speaking
to them you learned how great the firm
is and y y y and how cool everybody is
okay that's a cultural point that you'd
want to talk about that's specific to
that firm another thing that I mentioned
is the news right so you read about XYZ
event and how this firm was involved and
you thought that was really cool or how
they handled whatever volatility and etc
etc the third thing you can do to talk
about firm firm specific reason why you
want to work here is go over their
website watch their videos look at one
of their videos where they say for
example um you know there might be a
talk about why this person loves working
in the software engineering role or why
they love working as a Trader or why
they love working as a
researcher take the content of what they
said and say well you know I was
watching this video online about how Bob
talked about his transition from a
Trader to a software engineer and I
thought that was very inspirational
because in school I did a transition
from an economics to a computer science
degree and understanding that you guys
value that intellectual diversity and
being able to to uh mold myself as my
career progresses is something that I
think is very important at a firm right
I think that's a really good answer and
I just spitballed that off the top of my
head so that's another example of how
you can approach that the third question
that you're going to need to answer is
why do you want to work in Quant trading
now I'm going to give you guys a couple
of good kind of topics to talk about and
I hope you guys don't all become like
Android clones of each other that just
regurgitate this in the interview
because if everybody's saying the exact
same answer recruiters are going to be
like what's going on like why is
everybody a saying the same thing okay
these are just ideas don't go ahead and
copy this and I mean you can C you get
the point okay what I'm getting at here
is uh here's a couple of topics one
topic might be for example that in the
world of quantitative trading you're
working on the tip of the sphere of
technology so you're always going to be
working with the latest technology which
is something that might excite you as a
candidate right that's something you
might want to be able to speak about
maybe if you're coming to this from the
trader perspective you say well I like
the idea of owning my own portfolio and
being extremely performance-driven so I
like the idea of eating what I kill and
I thrive in environments where I'm under
stress and I'm under pressure all right
so that might be something that you
might want to speak about another thing
you might want to speak about maybe is
say for example I'm very interested in
the cross-section of markets and
Technology I you know growing up I was
always interested in the stock market I
started my own Investment Portfolio at
the age of 18 where I was able to
deposit my first paycheck into my RSP or
Roth IRA or 401k or whatever and over
time as I started reading more in the
financial times and the Wall Street
Journal I started better understanding
the interaction between Tech and finance
and how technology can really augment my
ability to perform in the financial
markets okay so that's something you
also might want to mention as well just
something cool like that I'm just
spitballing ideas here that's a
behavioral round once you pass that
essentially the HR has said like you're
a normal person you're not some like
weirdo you you know how to talk properly
you're able to string sentences together
because at this point you've already
passed kind of the the basic technical
assessment now the actual technical
assessment comes into play at the more
senior level you're probably doing a
round on computer architecture you're
probably doing a round on concurrency
but on the Junior and intern level the
next round is going to be a technical
round that might involve one of two
things or both of these things they
might involve new questions or
explaining your approach to the current
questions in the online assessment so
let's talk about that one first so what
you might have is you might have some
sort of whiteboard like interview with
the team in person they might fly you
out to the site to speak to the people
on on that team in person and they might
go over the technical problem that you
had in your online assessment and ask
you why did you do this why do you do
that what's the time complexity of this
uh what's the space complexity of that
right so they're kind of testing your
data structures and algorithms and
seeing how you think through problems
they might also ask you questions that
are new so here's a new easy problem or
a new medium problem let's walk through
it together how do you go about soling
solving this right so that's something
that they might do on the trader side
they might ask you more related to your
pet projects so talk to me about your
trading experience why did you decide to
build this black shs option pricer how
did you use it why did you decide to
build this uh volatility surface how do
you go about using that volatility
surface to actually generate meaningful
insights about the market and make
trades that generate profit right so
they might go through something like
that with you if you also are familiar
with you know shelder nber's option
pricing and volatility book they might
ask you like tell when is the options
Vega the highest when it's in the money
out of the money at the money Etc so
they might ask you those sorts of trivia
like questions they'll probably also ask
you things like tell me about a time
where you took leadership tell me about
a time where you persevered so they're
not only looking for those technical
skills especially on the Junior and
intern level they're looking for
important skills related to things like
coachability initiative and perseverance
I think that's going to be probably one
of the most three most important skills
you're going to need on the qualitative
side as a junior or intern so they're
going to ask you you know tell me about
a time where you worked with a difficult
manager or you had a conflict that you
needed to resolve the way you answer
these sorts of problems or these sorts
of questions is with the star-based
approach what's a star-based approach
situation task action result okay tell
me about the situation High Level under
30 seconds don't go rambling giving them
some sort of Shakespearean tale then go
into the task what were you specifically
tasked with doing so they have the
context they have your task now they you
tell them what your action was so what
action did you take to remedy the
situation and what was the result the
result doesn't always need to be good it
doesn't need to be like we made billions
of dollars because of my you know
heroism it doesn't need to be some sort
of Grand Story okay it could be as
simple as the result was actually not
great but I learned something from it
right that might be an interesting kind
of like way to Fram this sort this sort
of answer and it will show that you're
genuine and you're honest but don't go
and and say something didn't work out if
it did right so if it did work out great
say why it worked out and say you know
and emphasize what you did to allow it
to work out okay because they're
interviewing you they're not
interviewing your team so when you're
talking about that action component
don't say my team did this they're not
interviewing your team they're
interviewing you so you would say like
the action that I took is XY Z okay at
the end of the interview uh what they'll
probably ask you if you have any more
questions uh if you do have questions
great uh ask them I usually recommend
people ask two questions don't go too
much
into you know asking like a bajillion
questions at the end of the day you need
to be cognizant of people's time and
that's the general interview process
that process that final round interview
for the junior or new grad is very
similar on the researcher and Trader
side except instead of asking you about
new questions rela you leite code like
questions like I said they might be
asking you about option trading about
your experience in financial markets
about times where you handled stress
about clubs that you've attended that
are trading related about your own
individual returns about news in the
financial market so making sure you're
keeping up with what's going on in the
world right so they're looking for that
inquisitive that passionate person to
work
alongside now obviously I need to caveat
this because there's going to be
somebody in the comment section that's
going to be saying well this firm does
it this way well great that firm can do
it that way the bulk or the majority of
firms follow a certain process and this
is generalized advice to help you
succeed in that General process some
firms might have two technical rounds at
the end instead of one other firms might
have three I don't know it depends on
kind of the way they operate and so
that's the general advice that I'd give
somebody now if you're looking for more
personal advice you guys can follow me
on my patreon and join my Discord we
have monthly calls you can really ask
any questions if you'd like to speak to
me oneon-one you can do so in my
calendly link in the description box
below and if you'd like to follow me on
Instagram guys I don't answer any Quant
related questions on Instagram has
nothing to do with Quant but if you'd
like to follow my life behind the scenes
you can do so at the coding Jesus
Voir Plus de Vidéos Connexes
Accenture 2025 Actual Interview: What Really Happened (Unexpected)
TOP 10 'BEST' INTERVIEW TIPS! (How to PREPARE for a JOB INTERVIEW!) QUESTIONS & ANSWERS!
Most Tech Interview Prep is GARBAGE. (From a Principal Engineer at Amazon)
All You Need To Know About Behavioral Interviews (for software engineers)
Interview process in Sweden || Software development jobs || Indians in Sweden || Roam With Ashutosh
Bank of America HireVue interview: In-depth strategy, questions and answers
5.0 / 5 (0 votes)