Just saw that a lot of people wanted to know what the barclays wealth graduate ACs are like. So am just going to detail my experience of the day, hope its helpful! I applied for the private banking graduate scheme within London. My AC was about 7 months ago, so I don’t remember everything exactly, but heres what I can remember.
Applications opened early last year, possibly mid/late august and by beginning december they had finished ACs for this scheme! This scheme is extremely competitive, they received a lot of applications!!…so I considered myself lucky to get to the AC stage!!
The invite for the AC came 2-ish weeks later. It was a full day from 8am – 5pm. On the day of my AC there were about 16 ppl there and we had a case study and interview, competency based interview and group exercise. Once we got there we were split into two groups, the aim was that during our day we met at least 4 different private bankers. Not sure if the AC will be the same this year…but this is what it was like for me…
I had the case study first…we were required to read a pack and had to carry out qualitative and quantitative analysis. They provide data and formulas…for the first numerical part we had to calculate different returns and annualised returns on a bond. Need to think about tax as well… so read it carefully! For the qualitative part, you need to look at the use of returns and how to reduce risk within a portfolio. The case study interview is mostly on what you have done…I got a few competency based ques like how i’ve influenced someone, what to do if a client is upset etc.
Lunch was also an important part as you get to interact with other private bankers, graduates and candidates.
The competency based interview does not necessary have to be only competency based…some candidates were asked only competency based ques. I was asked specific ques on wealth management eg what revenue we make from each client, how many clients each banker has, if you’ve ever gone out and made money, specific news on wealth management, how many assets we have under management, why Barclays wealth compared to competitors, why Barclays wealth in 5yrs time…and many more which I cannot remember!!..it depends on which interviewer you get as some of them are more lenient than others!!
Lastly we had the group exercise. There were 4 of us and there were two assessors. The task was to prioritise a list of 20 tasks, giving only the top 5…I think it was 5 out of 20.
Tip 1: Remember the role your applying to is client focused…therefore all client related tasks should be done beforehand.
Tip 2: Also all unimportant or time-consuming tasks such as reading emails etc should not be part of your list as these should be completed before you get into work through your blackberry!! Similar situation with compliance as they usually come to you!!
Tip 3: Provide input all the time…they look for ppl who are active participants…but do not dominate the group, they hate that and your group won’t appreciate it either!!
The day finished at around 4.30-5pm … and they let us know of the outcome 2 days later. Just prepare as much as you can…know the job and market properly, cos this scheme is much more demanding than other ones…don’t worry about all the other people applying…just make sure you stand out from the rest on the day!!!
Just realised how much I’ve written…going to stop now!..hope this was helpful!