I'd interviewed with an investment bank for a quant position last week. I just got their feedback today saying that I apply their job just for a better salary..... it's so ridiculous... During the interview, they asked me why I left financial industry and now want to go back? I told them that my previous employer experienced a large drawdown. So it had the difficulty to pay its employees. And more ridiculous, they sent a IT guy to interview quants. I talked lots of my modelling experience but it seemed that he didn't understand the technical terms I talked about.

It's quite common that at least one dev person interviews quant candidates, helps understand if the guy's gonna be another crazy math wizard without any practical sense

You know, sometimes they reject everybody because there's no real position, they're just interviewing...However I'm surprised that an IB gave you this feedback. I mean they are usually "nice" so throwing at you "you just need money" is not fair and not something I heard of before.You should definitely ask for more feedback or understand what they meant. It won't change their mind but at least you'll know more about the reasons behind your rejection.

QuoteOriginally posted by: AnalyStratYou know, sometimes they reject everybody because there's no real position, they're just interviewing...However I'm surprised that an IB gave you this feedback. I mean they are usually "nice" so throwing at you "you just need money" is not fair and not something I heard of before.You should definitely ask for more feedback or understand what they meant. It won't change their mind but at least you'll know more about the reasons behind your rejection.yes, some companies interview people just for information or idea collection. my previous employer did the similar thing too.

QuoteOriginally posted by: terryzz24QuoteOriginally posted by: AnalyStratYou know, sometimes they reject everybody because there's no real position, they're just interviewing...However I'm surprised that an IB gave you this feedback. I mean they are usually "nice" so throwing at you "you just need money" is not fair and not something I heard of before.You should definitely ask for more feedback or understand what they meant. It won't change their mind but at least you'll know more about the reasons behind your rejection.I know some companies interviewing people just for information collection. I mentioned that I worked with a "legendary" quant for trading system development in CV. They asked somethings about quant trading, but I'm not stupid to tell them the "true" methods before they hire me.Are there "true" methods to make money?

QuoteOriginally posted by: DevonFangsQuoteOriginally posted by: terryzz24QuoteOriginally posted by: AnalyStratYou know, sometimes they reject everybody because there's no real position, they're just interviewing...However I'm surprised that an IB gave you this feedback. I mean they are usually "nice" so throwing at you "you just need money" is not fair and not something I heard of before.You should definitely ask for more feedback or understand what they meant. It won't change their mind but at least you'll know more about the reasons behind your rejection.I know some companies interviewing people just for information collection. I mentioned that I worked with a "legendary" quant for trading system development in CV. They asked somethings about quant trading, but I'm not stupid to tell them the "true" methods before they hire me.Are there "true" methods to make money?haha, I mean that the 'true' methods we use for those workable trading strategies.

A bank condemning greed. That's nonsense.

QuoteOriginally posted by: edouardA bank condemning greed. That's nonsense.We want only to hire people who do not want to make any money ...

QuoteOriginally posted by: edouardA bank condemning greed. That's nonsense.That's just a bunch of people who don't like a guy who might leave them as soon as he finds someone else that pays more.

But he said that he left because he wasn't being paid at all. If that's what scaring them off, he's better off not working for them.

Maybe the interviewers misunderstood what he said. I find that sometimes it is very important to choose the words you use especially the first time you meet someone as people may misinterpret your words. Maybe next time do not say that they are having difficulties and may not pay you as it can be interpreted as you leaving because you will not be paid very well but say literally they are about to file for bankruptcy and are unable to honour basic pay ? (even tell them that you are not talking about bonus or raises to avoid any misunderstanding)You could call to clarify although I am not sure it will change their decision.

QuoteOriginally posted by: bluetrinMaybe the interviewers misunderstood what he said. I find that sometimes it is very important to choose the words you use especially the first time you meet someone as people may misinterpret your words. Maybe next time do not say that they are having difficulties and may not pay you as it can be interpreted as you leaving because you will not be paid very well but say literally they are about to file for bankruptcy and are unable to honour basic pay ? (even tell them that you are not talking about bonus or raises to avoid any misunderstanding)You could call to clarify although I am not sure it will change their decision.tx, bluetrin. ...

With such motivation, no wonder they rejected you.

QuoteOriginally posted by: terryzz24During the interview, they asked me why I left financial industry and now want to go back? I told them that my previous employer experienced a large drawdown. So it had the difficulty to pay its employees.They are either paying or they are not (i.e. bankrupt), if you say they had difficulty to pay employees, that implies you are leaving them to get more money. Although true for everybody, its never the right thing to say (not even for trading jobs unless you're a star trader).

..............................