Psychometric Tests getting harder

Deloitte
#1

I just realised something. With all the banks collapsing and lots of wannabe bankers now turning to the Big Four instead, there must be more effects than a rise in the number of applications.

The psychometric tests used by the likes of PWC, KPMG, Deloitte etc are weighted against a normed score (i.e. percentiles), correct?
And I think it is fair to assume that prospective bankers are more ‘intelligent’ (for lack of a better word) and would do better in these tests… so it is logical to reason that the benchmark pass-mark for the psychometric tests at the Big Four are higher than ever because of the fact that these prospective investment bankers are now taking the same tests and competing for the same jobs???

In other words…we’re screwed!

#2

I sat the PwC tests the other day, and was told scores will be compared to those of other recent candidates. This was at a London office, where lots of would be bankers are now applying, so I think you’re probs right in thinking that it may be getting harder to pass. In fact, the person in charge of us for the day actually said when we were sitting around the table (in reference to the increased number of applicants) “we can be more selective this year”

#3

All the big accountancy firms are getting many more applications this year, mostly from candidates unsure about applying to IB, or candidates making backup applications to accountancy because of the credit crunch.

Yes - things are getting more selective.

Applications to IBs are down though, although obviously there are less jobs available.

My advice is make more applications, but make sure not to let the quality of your applications slip, which is easy to do the more you make!

#4

“And I think it is fair to assume that prospective bankers are more ‘intelligent’ (for lack of a better word)”

What absolute nonsense, you just need to be a better candidate.

#5

No it is not absolute nonsense, everyone knows IB recruitment schemes are much harder than Big Four ones.

#6

That doesn’t mean you can assume that people applying for the Big Four are less intelligent though.

#7

I didn’t say they were less intelligent per se, I just implied it was much harder to get an IBank job. Case in point, not withstanding the current crisis, have you ever heard of someone ‘settling’ for an investment banking job because they couldn’t get a Big four offer? Didn’t think so…

#8

Don’t worry I’m not going to argue the point, I was just nitpicking.