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katastrofa
Posts: 7931
Joined: August 16th, 2007, 5:36 am
Location: Event Horizon

Theoretical Physics Ph.D. looking to get into the Quant business

February 28th, 2011, 2:59 am

Some companies *do* pay expenses for plane tickets & hotels from E Europe to W Europe. I had mine paid 3 times. I heard banks are stingy about it now, though.Why don't you get *any* job in London and interview while you earn enough to pay your living costs? You can live in London on 1500 gbp net a month.
 
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twofish
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Joined: February 18th, 2005, 6:51 pm

Theoretical Physics Ph.D. looking to get into the Quant business

February 28th, 2011, 3:45 am

At one point I bought a round trip ticket to NYC and stayed in a cheap hostel for a few weeks. It helps a lot, because you can schedule two or three face to face interviews per day, and the threshold for going from a phone interview to a f2f one is lower. If you do a phone screen, and they find that you are not incompetent, then they can schedule a f2f the next day, and that keeps things from getting "lost."Banks will fly you over, but if bank A pays for your ticket through HH A, they aren't going to be happy to know that you have an interview scheduled for bank B later in the afternoon. If you pay your own way, this isn't a problem, and knowing that you have to schedule around an interview for Bank A, makes you more attractive to bank B, and vice versa.
Last edited by twofish on February 27th, 2011, 11:00 pm, edited 1 time in total.
 
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tavisor
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Joined: June 30th, 2010, 12:04 pm

Theoretical Physics Ph.D. looking to get into the Quant business

February 28th, 2011, 2:48 pm

I will keep in mind moving to London for a while!But, on the same subject. We are talking about huge financial enterprises which have outrageous profits... right? Don't say no here! If they are so cheap as not to pay amounts like ~3-400Euros for a flight and a night in a hotel for a candidate who does not live in the city what impression do they leave to anyone? Greed taken to the absolute extreme? People who make the most are the cheapest when it comes to paying some money to get someone good? WTF? Does anyone want to work for such an enterprise? While you all might be right, and don't get me wrong- as I am not trying to disagree with your suggestion, is this what it means to work for a financial institution? When I had the interview in Frankfurt at Deutsche Bank, those guys paid for everyone's fares and hotel stays. They flew in someone from Paris, another guy from Belgium, and paid for everyone's rail ticket and hotel.
Last edited by tavisor on February 27th, 2011, 11:00 pm, edited 1 time in total.
 
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spv205
Posts: 1
Joined: July 14th, 2002, 3:00 am

Theoretical Physics Ph.D. looking to get into the Quant business

February 28th, 2011, 3:48 pm

tavisorYou have to imagine you are the interviewer. How many people do you think apply for the job ( whether they really want it or not)You do not want to interview thousands of people, nor do you want to pay flights for thousands of people.You choose the best 5-10 candidates based in London and ask them for interview. Given that there are sufficient candidates in London you will not ask foreign candidates.You might as well ask why don't they fly over/interview all the candidates from India, Russia...So yes you might fly over a few candidates to Frankfurt, but a) there are presumably fewer candidates in ( or who want to be in ) Frankfurt, b) those they fly in should have a superior cv to the competition. Put it another way, they flew in only one candidate from Paris.
 
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linguafranca
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Joined: July 1st, 2010, 3:38 pm

Theoretical Physics Ph.D. looking to get into the Quant business

February 28th, 2011, 4:07 pm

QuoteOriginally posted by: tavisorI will keep in mind moving to London for a while!But, on the same subject. We are talking about huge financial enterprises which have outrageous profits... right? Don't say no here! If they are so cheap as not to pay amounts like ~3-400Euros for a flight and a night in a hotel for a candidate who does not live in the city what impression do they leave to anyone? Greed taken to the absolute extreme? People who make the most are the cheapest when it comes to paying some money to get someone good? WTF? Does anyone want to work for such an enterprise? While you all might be right, and don't get me wrong- as I am not trying to disagree with your suggestion, is this what it means to work for a financial institution? When I had the interview in Frankfurt at Deutsche Bank, those guys paid for everyone's fares and hotel stays. They flew in someone from Paris, another guy from Belgium, and paid for everyone's rail ticket and hotel.it should be fairly easy to figure out for a Ph.D.: in Frankfurt there's no big talent pool so they have to lure people in. it's totally different in London and NYC. there are many top universities that produce fresh grads at all degree levels each year; talents around the world want to come badly even without any relocation assistance. last months our HR lady gave us a list of internship candidates to screen, all of them are master's or Ph.D. students, do u want to guess the total number? 263! All of them are in good US schools and many of them are willing to work for free! why would anybody want to bring in someone in Frankfurt while we have a bunch of local candidates with better resumes?it's a brutal dog-eat-dog world out there; i don't understand why u can rant so much with no establishment yet. nobody will treat u like a king unless u become one first.
Last edited by linguafranca on February 27th, 2011, 11:00 pm, edited 1 time in total.