Navigating the quant trading new grad / intern hiring process

Summary

In 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

• 😀 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.
• 📝 The initial hiring stage often involves an online assessment with timed coding questions or a single non-timed problem to solve and return.
• ⏱ For software engineering positions, candidates should aim to solve medium-level problems in under 20 minutes and easy problems in under 10 minutes.
• 📊 The Quant Trader and researcher assessments usually involve numerical sequences, statistics, and probability questions, with preparation involving focused problem-solving in these areas.
• 🧩 Some assessments may also include IQ-type questions, even if not formal IQ tests, to evaluate logical reasoning and pattern recognition.
• 🤝 Following the online assessment, there's typically an HR call focusing on behavioral questions to assess EQ and cultural fit within the firm.
• 🔑 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?'
• 📈 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.
• 🏢 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.
• 💡 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.
• 👨‍🏫 The technical interview may revisit problems from the online assessment, asking for explanations and solutions, or present new problems to solve.
• 🌟 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.