Dear all,I am wondering if anybody can answer, even partially, the following questions:1- which is the expected number of interviews one has to do to get a job?2- Why do I get interview offers from very big names only, which then have very strict selectionprocedures? Aren't there small firms out there hiring quants? thanksamleto

1.) Expected number = 5, Variance and skew = enormous. No matter how successful you are interviewing, you still want to speak to as many people as possible to learn, network, and make sure that you have many offers to pick the best one from.2.) Sounds like your connections. Smaller firms are less organized in their recruiting, and tend to rely more on personal connections, headhunters, and job sites. Some smaller firms still need quants, but more of this work is becoming possible to outsource, so the small firms' demand for some types of quants may be in decline.

QuoteOriginally posted by: amleto ... Why do I get interview offers from very big names only, which then have very strict selection procedures? ... amletoBecause many big firms have invested so much into their recruitment process that they interview absolutely everyone in the market multiple times regardless of whether they have any suitable jobs. Goldmans is the perfect example of this but there are others.A smaller firm will only have a specific role or two in mind and only interview people who closely match these roles. That means it's harder to get an interview at a small firm but you have a much higher chance of landing the job if you do well.

QuoteOriginally posted by: exotiq1.) Expected number = 5, Variance and skew = enormous. No matter how successful you are interviewing, you still want to speak to as many people as possible to learn, network, and make sure that you have many offers to pick the best one from.Should a new guy breaking into the quant market expect multiple offers and wait until he has multiple offers? Some offers seem to expire quickly. Should a new guy take the first offer he gets, assuming it looks good, or assume that after the first offer, many more will follow, and it's best to let the first offer expire and wait and see what else is out there? How good is the job market right now for new entrants?

MattF is absolutely right.Soldman Gachs invited recently a couple of juniors for a 5 hours - 9 interviews marathon.Among them were people with 2-3 years convert arb or EQ derv prop experience.After 5 hours it turned out that the position they had to fill was an assistent position for the cash sales trading desk......

are you based in US...how do you manage to get interview calls from top banks..for me online appication at their website didnt worked...have you ever heard anybody getting call for summer intern or fresh grads getting interview call for full time in top banks...QuoteOriginally posted by: amletoDear all,I am wondering if anybody can answer, even partially, the following questions:1- which is the expected number of interviews one has to do to get a job?2- Why do I get interview offers from very big names only, which then have very strict selectionprocedures? Aren't there small firms out there hiring quants? thanksamleto

Baghead, love the avatar! That was after bankrupter in chief fell off his bike, right?