For some info first, here's the position description:

Corporate Bond Team Quantitative Analyst

The group manages 4 billion in investment grade corporates and preferred stocks for Merrill Lynch Investment Managers in both mutual funds and separate accounts.

Responsibilities include:
• Utilize and maintain proprietary systems in order to provide portfolio managers and traders with market and portfolio risk information.
• All aspects of compliance including new issue clearance, resolution of portfolio compliance issues and all reporting.
• All aspects of trade allocation.
• Design and implement tools in order to make trade support and portfolio management more efficient.
• Support all aspects of trading and portfolio management.

Skills Required:
• Robust knowledge of computers
• Strong work ethic
• Excellent problem solving/quantitative skills
• Microsoft Excel/Access
• Oracle
• Knowledge of Salomon Yield Book and Bloomberg including Excel links a plus

I am unfamiliar with Merrill's interviewing style and if anybody has insight or even something that might be related in the financial services industry they can share I'd appreciate it. I've generally got no problem just 'talking' but when they ask the questions like "How would you describe yourself?" I do tend to get thrown off, because those questions are pretty much BS. Should I expect them anyway?

I work at a Fortune 500 financial company and suspect that their interview process is similar to ours. Generally, you may expect a "behavior-based" interview. That adopts the idea that past performance predicts future behavior. So, have in mind specific examples of your work history that apply to the items listed on the position description. For example:

• Utilize and maintain proprietary systems in order to provide portfolio managers and traders with market and portfolio risk information. You can say: I have successfully done this. I use XYZ system on a daily basis. I routinely research X source and distill the information into reports that are helpful for decision makers. Here is a sample report.....

To the extent you can demonstrate with specific examples of past success, they will assume you can repeat that success.

It is also important to keep in mind maybe three points that you want to make. Have your points memorized with specific examples and work those three things into your answers. Some interviewers are lazy or sloppy and may not get to the information you want to present.

Also, expect to first meet a recruiter from the HR department. They will not be as knowledgable about the subject matter. Your goal will be to sound like a perfect fit so that the recruiter's job is easy: include you in the pile of resumes that goes to the real decision maker (the subject matter expert).

Expect to tell your tale like a story: Education, Work Experience, Special skills/knowledge. Good interviewers will walk you through time, from the past to the present. Be ready to address good and bad (what you liked, didn't like about a class, job, experience). Be ready to explain why you left certain jobs. Oppotunity for advancement, love of the subject matter or some other positive reason is always better than bad-mouthing your old boss or company.

Remember that they have a stack of resumes and just want to fill the damn job. To the extent you can demonstrate you are a good fit, the better. Why are you the one when there are so many other strong candidates?

A way to make yourself stand out is to research the company. Check Edgars or get a proxy statement or find some other way to learn about the company and work that into your interview too. I am amazed how many people don't do this. Showing interest in the company gets attention.

What is a mistake you made? How did you fix it? What is the accomplishment you are most proud of? What frustrates you? Why? How do you deal with frustration/stress? What is your greatest strength? Weakness? (Be ready for this one and be honest. Saying you are too much of a perfectionist is really lame.) What are your goals? Where would you like to be in five/ten years?

As for: How would you describe yourself? Keep it brief and on-point (relevant to the position description). Like "I am a hard worker that takes pride in producing comprehensive, thoughtful work. I have the education and experience that has prepared me for this job. I don't need much supervision and find financial information and the stock market to be a facinating field of study. BS, perhaps, but have something ready, none-the-less. The interviewer is asking a lazy question to get you started talking. If you get off the point, they will dismiss you early on.

Well, I've rambled enough. I hope you find something helpful here and good luck.

i can't offer anything but a kind thought. :)

Good luck Herc.

If it's a Telephone interview, write down some notes and think of possible questions or subjects you are sure they will discuss. That way if you freeze or become nervous, you can make reference and recover.

Researching the company is also a great idea. A relative of mine is a retired HR VP for a Fortune 500. He always said they looked for personal enthusiasm in the company from the applicant, if the applicant asked concise well-developed questions, and the utilization of specific examples and qualified references to back them.

Hope any of that helps, good luck...

Good catch Red, having a few good questions in hand is another good tip. Not "how many vacation days do I get" but things like: what will be the greatest challenge for the successful candidate? what opportunities for advancement will be available? what is the most important thing you are looking for? based on our discussion so far, what do you think is the greatest obstacle I would have to overcome, or what is missing in my credentials? Then be ready to counter whatever they say.

LesPaul...wow...good advice...hope hercules read that and took notes. Good luck herc!

Just tell them you own an RX-8... they'll know you are:

1) Intelligent
2) Have class
3) Dare to be different
4) Know good value when you see it
5) Are able to see the big picture in spite of adverse events (HP issue)

You'll be hired on the spot! :D

Good luck!

Originally posted by wakeech
i can't offer anything but a kind thought. :)

Good luck Herc.

Ditto!

Originally posted by wakeech
i can't offer anything but a kind thought. :)

Good luck Herc.

Yeah, best of luck! :D

My brother recently interviewed ant took a job at Merril Lynch at their Healthcare I-banking division in Palo Alto (Near sanfran), CA. He's an investment banker and works as an analyst. He told me that it was a "behavior based" interview as Lespaul has said, but they also asked him a problem solving question in which he had 20 minutes to solve a problem. He said that the problems on the phone interviews arent that hard, but you make the cut and they fly you out to New York, they ask problem-solving questions that are almost impossible and you wont get a lot of them.

I"m not sure if this is the same type of job you are interviewing for, but if it is, i hope this helps!

Hercules,

Well first, good luck.

I'm the IT Division Manager for one of the largest independant Financial Advisory Firms in the US. Not that my position is a big deal as I only have four direct reports currently.

Keep in mind the broker industry has been way down since the Tech bubble burst. ML has been hit especially hard being a comission based broker trying to compete with discount brokers. They have tried to please both business models ultimatly failing at both. I assume they are working though new hires with the recent uptick in the market.

I would say focus on the items in the job description. Try to be open minded to consider any of your response as possible red flags for not moving you through the process. Don't give them a reason to exclude you. I assume the phone interview is screening.

The other important thing is to remember this is your interview too. Question them to make sure it's a solid fit for you to continue in the interviewing process. If nothing else that takes away time for them to ask you too mahy questions. :)

Knock 'em dead!

Thanks for your help everybody, but it went great!

I was apprehensive at first that it went well, they BSed with me a bit about my college and their basketball team. Then he went right into what the position details and then I tried my best to be humorous and interested at the same time working in my dry wit (haha :p) along with whatever credentials I had to supplement the question or comment he posed.

I finished up and said happy new year, and got off and felt rather 'bleh.' It's not a good or bad thing, I just didn't know how it went at all.

15 minutes later I got a call back again and they asked me to come in for a face-to-face. Given what he said in the interview about how they wanted to call in only a few people to interview, and him calling me back in 15 minutes... I took it as a good sign :)

Thanks everybody!

Hercules

"The worst thing you can give a truly talented person with get up and go is a good job "

Self employment if possible is the way to go.

Just my two bobs worth .

Good luck

michael

Originally posted by Lock & Load
Hercules

"The worst thing you can give a truly talented person with get up and go is a good job "

Self employment if possible is the way to go.

Just my two bobs worth .

Good luck

michael Coming right out of college it's difficult for me to start any type of venture right now for two reasons.. first of which is that I don't have any good ideas for a business and secondly, I don't have the resources in either people or finances to do it.

Hopefully in a few years I will be able to :)

Hercules,

Sounds like it went well. Just remember, keep you game face on till you get an offer in hand. If you let up thinking you got it at any point in the process, it will slip away for sure. Good luck!

Originally posted by Lock & Load
Hercules

"The worst thing you can give a truly talented person with get up and go is a good job "

Self employment if possible is the way to go.

Just my two bobs worth .

Good luck

michael

In many ways self-employed people work harder and make less. I was a practicing tax CPA for 15 years so I've seen it all. Many self-employed persons like the "self-employed" title, it's kind of an ego thing when you can tell people "I work for myself", but in reality it's not as great as most peeps make it seem.

Or course there at exceptions to every case and you will find those that are self-employed and make millions doing virtually nothing at all. But these are the exceptions and not the norm.

Originally posted by i3man
In many ways self-employed people work harder and make less. I was a practicing tax CPA for 15 years so I've seen it all. Many self-employed persons like the "self-employed" title, it's kind of an ego thing when you can tell people "I work for myself", but in reality it's not as great as most peeps make it seem.

Or course there at exceptions to every case and you will find those that are self-employed and make millions doing virtually nothing at all. But these are the exceptions and not the norm.

Agreed however working for yourself is not just about money .

Your losses or gains are youre own ,depending on your circumstances , you dont have to share all your income with the taxman , and you are a free independent agent .

Freedom of when and how hard you work is your choice and you are not answerable to anyone .

michael

Good job Herc!!!!

Just be yourself, be confident, and things will go well. Sounds like you got off to a great start already!

I've interviewed a LOT of people in past, and a good relaxed attitude that can get along with others is a good thing. If you can be comfortable with everyone, it'll work out. Just think of them as your family for the next 30 years of your career.

Of course, if you can't stand them, do your best, get the job and work on your resume ASAP ;)

Way to start the new year off!

Originally posted by Lock & Load
Agreed however working for yourself is not just about money .

Your losses or gains are youre own ,depending on your circumstances , you dont have to share all your income with the taxman , and you are a free independent agent .

Freedom of when and how hard you work is your choice and you are not answerable to anyone .

michael


I think most people would rather earn $150K working for someone else than earn $75K working for themselves. And unless you've got some illegal scheme going here, you'll actually share MORE or your income with the taxman being self-employed than you would as an employee.

Self-employed persons pay what is called SE tax (self-employment tax) which is 15.3% of the first $85K or so of self-employment income IN ADDITION to the regular income tax on self-employment income. In theory you are paying about 40% in federal taxes alone, not including state tax, on the first $85K of self-employment income.

Two of the biggest benefits that self-employed persons do not receive are health insurance and retirement benefits paid for by the employer. As a self-employed person you have to pay for all of that out of your own pocket, though you can deduct a portion of those expenses.

As I've said before, being self-employed ain't all it's cracked up to be. If you can make a living being self-employed, more power to you.

My advice to self employed people has always been to try and run their bussinesses by this motto.

""IN GOD WE TRUST ALL OTHERS PAY CASH""

However i get your drift.

michael