Great tips for investment banking

bloodcherryUID: 9965

转自:www.gsmer.net

The Deutsche Bank
Getting Started

What you need to know, where do you begin and how do you focus your job search?

Firstly you'll want to do a little research on the industry and think about whether a career in an investment bank is right for you.. Take a look at the "how to prepare" article in this section for some research tips. For certain, you shouldn't go into banking just for the money, the lifestyle is to demanding. To do well and excel in this world, you will need to really enjoy the work itself as well as the rewards.

You begin your job search, and, from what you've heard so far, you want to give investment banking a shot. But there's one small problem: You're not exactly sure what an investment bank does, so convincing the recruiter you're perfect for the job is gong to be a challenge.

Investment Banking isn’t one specific service or function. It's an umbrella term for a range of activities. At Deutsche Bank these activities are grouped into divisions and each division has opportunities for graduates. Research these areas thoroughly before making your decision.

To do this firstly you need to talk to people working in investment banks. You can do this by attending presentations and other events. A listing of the global Deutsche Bank presentations can be found in 'Events'. When you go to presentations make sure you talk to the business representatives, ask them questions and make an impression.

At university, the best sources of information are people who have spent a summer internship at an investment bank. Your alumni network should also be useful. Read lots of career guides and profiles in the 'Meet our People' section is an excellent source of information.

Competition is fierce and you'll need to be resourceful and persistent. Doing a summer internship in an investment bank is the best possible way of finding the right fit for you, as well as being that all important foot in the door.

And once you've have talked to all the people you can and read as much information as possible you're ready to prepare for the online application.

Our Process

The Deutsche Bank Recruiting Process

Deutsche Bank’s recruiting process is designed to help us identify and hire the very best people available in the fairest manner possible. If you want to work for us, and you have the right capabilities and experience, you will find that our process will give you a chance that is equal to those of all others we consider for positions.

However, we also ask you to consider your application carefully. Your career choice is incredibly important and there are many industries and employers to consider. Before accepting our offer we want you to be sure that you feel as excited about working for us as we are about having you join Deutsche Bank.

Although the precise timeline, number of steps, and evaluation process varies somewhat across our global organization and many divisions, the common elements for most positions at Deutsche Bank include:

Step one: the online application
Step two: in-person interview(s)
Step three: job offer

The Online Application
The first step in Deutsche Bank抯 recruiting process is our online application form (available through our website at www.db.com/careers). All applicants to Deutsche Bank must complete our online application form, regardless of whether or not you attend a school at which we recruit. When you complete the form, you will be asked to indicate your job and regional preferences. You will also be asked to share information about your background and relevant experiences. This is your opportunity to make the case for why you would be an outstanding employee for Deutsche Bank.

On our side, recruiters review every online application that we receive. After they抳e reviewed your online application our recruiters will contact you to let you know whether you’ve been selected to proceed to step two of the interview process.

The Interview Process
If you successfully pass the initial evaluation based upon your online application, you will be invited to interview with a member of our recruiting team. Depending on your geographical location and whether we are recruiting on your campus, we will conduct the interview on campus, in an arranged location (for example, a hotel), or in a Deutsche Bank office. Deutsche Bank targets and recruits for region-specific jobs at a number of key schools in a variety of regions around the world.

The interview process typically consists of one to three rounds of interviews, and can also include quantitative tests, language tests, and case studies. However, the specifics of the process vary depending on the region and the position. For instance, the process for undergraduate candidates for full-time Global Markets Analyst positions in Australia consists of three rounds of interviews and a series of aptitude tests, while the process for full-time Global Corporate Finance Associate positions in the U.K. consists of two face-to-face interviews followed by a 揝uper Saturday?series of final-round interviews in London.

Please check the recruiting details page for the region where you want to work for more details.

Decision Processes
Our recruiters will contact you after each stage of the process to let you know our decision. If you have not selected to move forward, the contact will be via e-mail. If you are selected to move forward to the next step, we will typically call you. We call all candidates who reach the final round of interviews to let them know whether they will be receiving a job offer.

If we don’t select you to interview with us, we will leave your application open until all potential opportunities within your desired position/region are filled in order to ensure you have maximum opportunity for selection.

It is also possible that a recruiter may pass your application to another division if it appears that you would better fit a different position in Deutsche Bank. If the recruiter who receives your forwarded application wishes to proceed with you, we will contact you to set up an interview. If all programs for that region/division are filled, you will receive an email notification that your application has been closed.

When to Apply
The application timetable varies by region and by position. For example, we accept applications for U.K. summer and full-time Associate and Analyst positions starting on September 1, while we accept applications for positions in Germany year-round.

Please check the description of that regional position for details on timetables.

On line Applications

What do you look for in candidate resumes/CVs?

Our online application is the only method of application we accept條evels the resume/CV field to a consistent format that helps us to most effectively review and evaluate your qualifications. But just because our form is standardized, doesn’t mean we want cookie-cutter responses. Look for ways you can differentiate yourself.
• Target your responses to the role you like. Looking to work in our Hong Kong office? Tell us why you will be a good fit. Have you lived/worked in Hong Kong? Do you speak Mandarin? Tell us, we want to know.
• Point to specific ways your experience uniquely qualifies you. If you want to work in Corporate Finance tell us about some of the analysis you conducted at a previous job or for a class project. Want to work in Private Banking? Demonstrate that you are not only a quant jock but also a very competent relationship manager.
• If you are receiving your first university degree and don’t have much work experience, talk about your technical skills, your extra-curricular and leadership roles, and relevant projects you completed in school.
• Make your responses concise. This isn’t an essay exam.
• Feel free to use bullets and brief factual statements.

What are immediate turn-offs on a resume/CV? Turn-ons?

If you spell our company name wrong and admittedly, it is easy to do not expect a call. In fact, spelling errors of any type will be taken very seriously. Avoid anything that smacks of a generic or blanket approach. You抎 be surprised how many obvious cut and paste errors we receive: "I want to work for XYZ Investment Company because Instead, demonstrate with real facts that you have done your homework, and give us examples of why you and Deutsche Bank are a good match.

Additionally, while we want to know who you are and what you’ve done, we have to review hundreds of resumes/CVs every year. Being concise and direct demonstrates your professionalism.

Tips for Maximizing Your Deutsche Bank Online Job Application

Deutsche Bank’s hiring process has been established to accomplish two objectives: to help us find and hire the best possible candidates, and to make sure that we evaluate every candidate fairly. With the number of applications we receive each day this is no small task.

The very first step of our process centers around the online application, available through our website. Every candidate who applies to us must fill out our online application form. While this may seem like a burden, we believe that it is our best way to provide all candidates with a level playing field. Moreover, real people on our team review every application we receive.

No doubt you抳e filled out several online applications already and are familiar with the questions and process. However, we receive and review thousands of applications ourselves, so let us offer you a few tips about how to give yourself the best chance of securing an interview with Deutsche Bank.

Know What to Expect

We can at least try to help you as much as possible with the Deutsche Bank application! Below is a pdf example of our online aplication form. We have put it here to give you the option of familiarising yourself with the form before you start the formal application process. This pdf is a guide only - it may vary from the online version you select in My Application.

In order to apply to Deutsche Bank you must go via My Application which will take you to our online application database. Here you will be taken through steps to select a region, program and division. Once you have submitted your application you will receive a link via email to your own personal virtual centre where you can track the process of your application and sign up for an interview.

Example application form

Don’t Miss the Boat

The online application form is the only gateway to our interview process ?so you really must fill it out if you wish to be considered for a position. You should also carefully note the application dates and timelines which are listed throughout our website. Unfortunately, given the volume of applications we receive, we just cannot extend our deadlines.

In order to make sure you get the process rolling, you may want to start your application now. When you enter the application, you will be asked whether you are a new candidate? (Setting up your application for the first time) or a returning candidate?(updating your application or tracking your progress). Unlike some other online applications, our system allows you to start the application and then come back and change it until you feel ready to submit it. Once you have submitted your information, you will also be able to track the progress of your application online.

What You will Find Online
Once you go to the application form itself, you will be asked to indicate the country and the type of position for which you are applying. We offer two options -- the Analyst application (typically undergraduate or postgraduate degree backgrounds) and the Associate application (typically MBA graduates with some work experience).

The Analyst application can take anywhere from 5-40 minutes to complete depending upon which region you are applying to. The application allows you to discuss your experiences outside of immediate work experience. We strongly encourage candidates for the Analyst program to explore the online application process before submitting their applications. As you go through this aspect of the website, you will find helpful tools such as FAQs, deadlines, and preparation tips that may help you fill out the application.

The application process is shorter for Associate candidates the form typically takes about five minutes to complete. You simply input your contact information and attach your CV/ resume.

What Happens Next

Within 24 hours after submitting your online application, you will receive an e-mail from Deutsche Bank confirming our receipt of the application. Next, Deutsche Bank recruiters will study your application along with those from all other candidates.

They will be looking at your background, your experiences, your relevant scores/grades and other aspects covered in the application in order to determine whether to take the next step and invite you for an interview. Unfortunately, given the number of applications we receive, as well as the high caliber of candidates who seek positions with us, we are not able to proceed with every candidate.

However, you can be assured that a real person will review your application, and, once we have decided about whether or not to proceed to an in-person interview, we will notify you of our decision. If Deutsche Bank is conducting interviews on your campus make sure to contact your career office to learn about any additional steps you might need to take to secure an interview slot.

Some Tips About the Process

As mentioned above, we have established our application and interview process in order to give all candidates an equal and fair shot at the limited number of positions we have available. However, there are a number of things that you can do to help insure that you put your application in the best light possible. Here are a few suggestions:

• Know your goals. Be clear about the area(s) of the company that most interests you -- Global Corporate Finance, Global Markets, etc. and why you think you are a great candidate for that position. We understand that you might be interested in more than one area of the bank, but you抣l probably want to target your application to one or two positions.
• Know Deutsche Bank. Nothing turns a recruiter off quicker than an obvious lack of knowledge about our organization. While we are a global bank with offices in more than 73 countries, not all of our divisions operate in each office. You don’t want to be surprised to learn that we don’t have an appropriate Associate program in our New Zealand and Australian offices when you begin to fill out the application.
• Make your best case. Be sure that your application and CV/resume highlight the things in your background that best explain and demonstrate your qualifications for the position. This could/should include examples from past work, your academic career, extracurricular activities, hobbies, or any other area that is relevant. Since our first cut is based upon a review of your online application, we won’t know anything that you don’t tell us.
• Explain your choice of locations, if necessary. If you are applying for a position in a region outside of your current location, highlight why you want to work in that region. If you speak Chinese or have experience living or working abroad and you want to work in our Shanghai office, document these experiences in your CV/resume
• Follow instructions carefully. We have set up our applications in order to collect information that helps us evaluate you as a candidate. If you don’t follow the instructions, you will hurt your own chances to succeed.
• Use Word (.doc) attachments. If you wish to upload a document, we ask that you use Microsoft Word format. We can also view supporting materials in the Acrobat (.pdf) format.
What to Do If You Have a Problem Applying

There are helplines you can contact to sort out problems.

bloodcherryUID: 9965

for UBS
ubs的面试指南
The Right Approach

You need to do a lot of research and ask questions to find out if a career with us appeals to you and if you have the qualities and commitment needed to succeed. Adopting the right approach will help you learn about UBS and start developing relationships with our people.

"Think about the whole recruitment process, not just the interviews." UBS recruiter

Do your research
Attend some of our events
Ask questions and learn about UBS
Start a relationship with us
Make your decision


Do your research.

Learn about UBS and the industry from this web site and other sources. Talk to any contacts you have - friends, relatives or alumni members. Throughout your research try to get a feel for what business areas interest you and where you might fit in.

Attend some of our events.

Go to a UBS event in your region - an on-campus presentation, an educational workshop or some other marketing event. These are very useful for your research, giving you a unique insight into our business and direct access to the heart of our culture. They are also an important part of the recruitment process, where you can begin your relationship with us.

Ask questions and learn about UBS.

At an event, think about what you are trying to get out of it. Take advantage of this opportunity to meet our people, ask them searching questions and learn from their experiences. Talk to business managers about their job and daily routine and leave recruitment questions for our HR recruiters. Find out which business area you want to work in. Much of what you learn here can be used later if you are selected for interview.

Start a relationship with us.

Your first contact with UBS is an important part of the recruitment process. It is a chance to make an impact and develop a relationship.

"The whole recruiting process is about building relationships. It's a courtship, a first date and like all first dates, first impressions are important." UBS recruiter

Remember that UBS visits the top colleges, universities and business schools in the world, so we know you are smart. We want to know what you are like, what makes you different from the rest. It is your personality and passion that counts. Don't make assumptions about how you should behave. Just relax, be yourself and show us who you really are.

We are looking for your ability to communicate and build relationships with people. We want to know if you could attract a client, how you would behave with them and what sort of work colleague you would be. To build these relationships you need good communication and social skills. Show us you can do this and start by building a relationship with us.

Make your decision.

Through your research and contact with us, you will know if UBS is the company for you and if you want to apply for a position. You will have learned what we are looking for in candidates and realize if you have the drive, desire and passion for working at UBS. You are likely to know which business area you are interested in and have a basic understanding of UBS structure and our business.

If you are selected for interview, visit our Interview tips for some very helpful advice.

Interview tips

We all know how difficult and stressful interviews can be. So what are the key ingredients to a successful interview at UBS?

Preparation and research
Interview techniques
Answering questions


Preparation and research

Practice makes perfect. To improve your interview skills, nothing beats real experience. If you have not had many interviews, try attending an interview skills workshop on campus.

Know your area. Research the business area you applied for. You do not need to be an expert, but you should learn the key elements of the job. For instance, a good investment banker should know about accounting, financial statement analysis and valuation.

Know the people. Before interviews, go to a UBS campus presentation or event and meet some of our people. If possible, try to find out about the person who is interviewing you.

Read all about it. Your finger should be on the pulse, so read newspapers, see where UBS is in the media and check financial indicators such as the stock market and exchange rates. Explore the website thoroughly and if you know somebody at UBS, pick their brains.


Interview techniques


Relax and be yourself. Compose yourself. If you have prepared, there is no reason to be nervous. Think of the interview not as an interrogation, but as a dialogue or conversation. There is no need to put on an act, or to try to impress by exaggerating.

Be open and honest. We want to know about your personality, your ideas, your interests, your experiences and what you have learned from them. Let us find out who you really are. Remember, we know you are intelligent, that's why we picked you for interview. What we want to know is what you are like as a person.


Answering questions

Listen and think. Listen carefully to the question, think about what the interviewer is really asking and pause if you need to. You do not have to answer immediately, so there's no need to be scared of silences. Perhaps rephrase the question out loud to give yourself time.

"Some people just start talking without thinking about what I'm really asking. If you haven't thought about the question, what's the point of trying to answer?" UBS recruiter

Don't pretend you know. If you are not sure of the answer, admit it. Sometimes it is OK to say, "I don't know". Maybe you just need the training and experience. So be honest about it.

"Some people think that if they take up time and fill space, I won't notice that they don't know the answer." UBS recruiter

Open up. Sometimes we just need to know the way you think. If we ask, "What's your perspective on the market?" it is just a way to show how your mind works. This tells us a lot about your potential at UBS. Don't limit your answers too much. Open questions give you the chance to speak and show us who you are. Explain and give us examples.

Be direct. On the other hand, try not to be too long answering a specific question. Get to the point and be precise. Assume that the interviewer may know the answer. So if you are asked what is 1 + 1, just say 2, it is not necessary to explain the math. Remember, time is limited, so use the time effectively and don't waste this opportunity.

To read about the interview experiences of UBS people who have joined us recently, check out New hire flashbacks.

New hire flashbacks


New UBS employees offer tips and advice on how to manage the recruitment process successfully based on their own recent experiences.

General approach
Recruiting events
Preparing for interview
The interview

General approach

"Before you approach UBS, learn as much as possible from the web site, newspapers and other sources. Do your homework. Talk to friends, relatives, alumni - anybody who knows UBS or the financial services industry. Ask them who you should talk to, what to do, how to prepare and what the process is."

"I talked to someone who said the best decision I could make was to go for UBS. I listened to him because he'd been in the industry a long time, knew all the top firms in the industry and was aware of what was happening in the market. It's important to have a sense of what is going on."

"Build a good relationship with UBS people by phone, by email and by going to their events."


Recruiting events

"Company events are a great way to get yourself recognized and to start the relationship. My advice is go to all of them if you can. Collect cards, make an impression and be enthusiastic. It's a networking thing. You are building relationships."

"The speeches are less important than the social interaction. Don't be shy - talk to as many people as you can."

Preparing for interview

"I went for lots of interviews and did some role-play training. By the time I got to the interview I had a lot of practice."

"Think about yourself, your qualities, strengths and weaknesses. You have to know yourself and what you can contribute."

"Know what you want to do and why you want to do it. If you don't really want to do it, it shows. You have to really believe in what you want to do and then convince the company of that belief."

"If you know something about the job you're going to be doing, you can paint a brighter picture of yourself at interview and tell a better story."

"Employers like initiative. If you want to see the trading floor or spend a morning with them, ask them."

"I knew the interviewers were seeing twenty or thirty other people, so I had a thirty-second speech prepared on myself."

"Have questions prepared. I wrote three things on the back of an envelope that I wanted to talk about in the interview. It's nice to have something to fall back on if you lose your way in the interview."

"I didn't know UBS stock market price, but I knew the story - that's what seemed important. I could tell the interviewer where UBS was coming from and where it was going. That's what got me excited about UBS. It's an easy story to tell, when you really believe it."

"Have a view on the stock market economy and where the business is going. You will be asked questions about this. If you haven't thought about it, these are tough questions to answer, so think about it beforehand."


The interview

"It's an opportunity to put yourself under the spotlight for thirty minutes. It's a place to tell your story and hopefully to shine."

"I used the interview to my advantage. I often used to think about my weaknesses, but I found that interviews made me focus more on my strengths."

"First impressions are absolutely everything. The first four minutes can determine the outcome."

"Show energy, be straightforward, maintain eye contact and give quick, snappy answers."

"Tell them why you want to work for UBS. That's key. That's huge."

"Always have examples to give them."

"If you don't understand a question, there is no problem asking them what they mean. Also, in an interview it's good practice to sometimes put their question into your own words to check if you understood it right and to confirm what they're really asking you. "

"I tried to lighten up the atmosphere in the room. I felt that I achieved that and it made me feel good."

"The trickiest question they asked me was: 'How many gas stations do you think are in the US?' I estimated how many stations were in my local area and then multiplied it out to reach a final figure. They were more interested in how I arrived at my answer than the answer itself."

We decided to put the boot on the other foot by interviewing a variety of recruiters about their experiences. For their interesting, educational and humorous tales, read our Recruiter stories.

Recruiter stories


Our recruiters have had some amazing experiences over the years, meeting and interviewing hundreds of students around the world. We thought it would be fun to share some of these stories with you and give you a unique insight into the mind of a UBS recruiter.

Everyone makes mistakes
Never ending story
Fact or fiction
Mind your language
Don't give up
Talk to me!


Everyone makes mistakes

"It was our first presentation in 2000 at the Darden MBA School in Virginia. Everyone's chatting and mingling near the bar at the reception. An MBA student suddenly turns around and accidentally spills red wine over me. Instead of panicking, he apologized and we even laughed about it. He handled himself really well and turned it into a positive situation. Later he went on to interview well, got an offer and joined UBS. We kept on bumping into each other and each time we would joke about it - I'd tell him to stay well away from me. I guess we all make mistakes, but it's how you handle it afterwards that counts."

The message: Try not to worry about making mistakes.

Never ending story

"At one of the receptions, I was talking to a student who really impressed me. He was bright and amicable with a strong personality - a natural born salesman. I was also with another five or six students who I wanted to talk to. I asked them some questions, but every time they tried to speak this candidate interrupted them. He wouldn't let anybody else talk, wanting to be the center of attention the whole time. Later I was talking with one of my UBS colleagues and he was telling me about the same student and how he always dominated the conversation. We realized that he had been around all the groups and had gotten on everyone's nerves. We had to agree that he was not suitable for UBS, simply because he would never listen to our clients! It's strange because this person impressed me so much at first, but two hours later he'd ruined his chances just by being too forceful and eager to impress."

The message: Make your impression and then stop. There is a point of diminishing returns where you cannot make a better impression. Try not to overdo it. Give the recruiters some space. If they found you interesting, they will get back to you.


Fact or fiction

"Before an interview we were looking at an American student's resume and noticed that he could speak three languages, including fluent French and German. It so happened that I spoke French and John, the other interviewer, spoke German. We decided that at the beginning of the interview I would introduce myself in French and then later we would switch and John would introduce himself in German. " "The student came in and I said, "Je m'appelle Anand" and spoke some more in French. The student looked completely blank and didn't respond. Anyway, we continued to interview in English and the student did quite well until my colleague took over and started speaking German. Again the student looked blank. 'Did you understand what I just said?' John asked. "No, not really," replied the student. 'OK, I have no more questions then.' And that was the end of the interview! The student had lied on his resume about being able to speak French and German - a big mistake."

The message: Just be honest, be yourself.


Mind your language

"I was interviewing this student who absolutely nailed every question I asked. He knew all the answers and was precise. Very impressive. He was invited to the final interview and I asked what distinguished him from other classmates. He suddenly got very excited and started speaking really quickly and swearing a lot. In so many words he said, 'I am the best student you are going to interview all day. I eat, sleep and live investment banking'. And he went on and on, swearing the whole time. It was so scary he made me move back from the table. I thought, 'Wow, can't bring this person back for another interview.' At first I thought he was this perfect model candidate, but he wasn't. Imagine him meeting our clients!"

The message: Try not to be too aggressive or over the top.


Don't give up

"One student wanted to do a three-month internship with us during her university summer holidays from June to August. Unfortunately there were not many available positions left and we could only offer her work from March to May, which was during term time. She was very disappointed when she heard this, but an hour later she phoned me back and told me that she wanted the position so much that she had postponed her degree for one year. She showed such passion and commitment for UBS. After she joined us, we were so impressed by her that we extended her internship to six months."

The message: We value passion and commitment.


Talk to me!


"I interviewed a student who had clearly done all his research very well, but he had prepared all his answers and written them out on a piece of paper. When I asked him a question about teamwork, he had to check his notes and read from the paper. There was no eye contact, his face pointed downwards and I didn't feel like he was really talking to me. There was no interaction. At the end of the interview I asked if he had any questions. Again he referred to his notes and produced a list of questions, which he fired at me in quick succession. It was almost like he knew the answers and was just testing my knowledge. I felt like I was being interrogated. I thought his behavior was kind of strange, even a bit arrogant. He didn't seem to have the skills to manage this interview, let alone a client relationship."

The message: The interview is a dialogue. It is a discussion, a conversation and a social interaction. It is not a test or an interrogation. Social skills and eye contact are important.
How we assess you

Introduction
At UBS, recruiting the right people into the right jobs is a fundamental part of our strategy for success - so we put a lot of time and energy into getting it right. We recognize that it is important for you to be challenged and rewarded in a role that allows you to make a real contribution, gives you satisfaction and equips you with the tools and experience to build a lasting career. In short, you are looking for a good fit, and so are we.

Competency-based assessment
We use a competency-based system of assessing and measuring your performance from when you start completing your application, through the recruitment process to the final round of interviews and assessment exercises. This system helps us to evaluate your skills and qualities, as well as assessing your potential against the requirements of the role.

Click on competencies below to learn what key skills are needed to join our organization:

Problem Analysis
Judgment and Decision Making
Innovation
Communication and Impact
Drive and Commitment
Teamwork
Planning and Organizing


Problem Analysis

Identifying and breaking down problems in order to understand them
Selecting and using relevant information in a structured way to generate options and recommending solutions that are logical, ethical and realistic


Judgment and Decision Making

Selecting and using relevant information to make sound and balanced judgments
Evaluating the risks of alternative options and making confident decisions in the face of ambiguity or incomplete knowledge


Innovation

Generating new ideas and creative approaches
Understanding the need for change and challenging existing practices
Appetite for continued learning and expansion of personal skill set


Communication and Impact

Conveying information clearly, articulately, and succinctly
Influencing others and making an impact through effective interpersonal skills and a dynamic communication style


Drive and Commitment

Demonstrating the determination, effort and enthusiasm to deliver results
Showing initiative, originating action and consistently striving for excellence
Overcoming barriers, failure and criticism.


Teamwork

Working collaboratively with other people and being prepared to support team members, as well as pursue own objectives
Encouraging others to participate, listening to different viewpoints and working to reach a consensus


Planning and Organizing

Organizing own work, making good use of time and staying focused on priorities
Developing and monitoring clear action plans with realistic deadlines and setting time-scales that take account of the available resources
Amending plans to take account of changes

bloodcherryUID: 9965

摩根士丹利的面试指南

Frequently Asked Questions

What we look for

What types of positions are available for recent college or university graduates?
We hire recent college graduates into our Analyst Programs within the following divisions: Equity Research, Finance Administration & Operations, Fixed Income, Information Technology, Institutional Equity, Investment Banking, Investment Management, Private Equity, Private Wealth Management, Public Finance and Strategic Planning.

The Analyst Program is designed for applicants who will complete their undergraduate or university degree in 2005. The IT Analyst Program is designed for candidates completing all levels of degrees, i.e., BA/BBA/BS, MA/MS, MBA, PhD. The Junior Associate Program is designed for undergraduate or university applicants interested in Equity Research.

The Summer Analyst Program is designed for applicants who will complete their undergraduate or university degree in 2006 or later. The IT Summer Analyst Program is designed for candidates in the process of completing all levels of degrees, i.e., BA/BBA/BS, MA/MS, MBA, PhD. The Summer Junior Associate Program is designed for undergraduate or university applicants interested in Equity Research.

What types of positions are available for candidates with advanced degrees?
We hire recent MBAs and other graduate students into our Associate Programs within the following divisions: Equity Research, Fixed Income, Information Technology, Institutional Equity, Investment Banking, Investment Management, Private Wealth Management and Private Equity.

The Associate Program is designed for applicants that will complete an Advanced Degree in 2005. Candidates with an Advanced Degree interested in IT must apply to the Information Technology Analyst Program.

The Summer Associate Program is designed for applicants who will complete their Advanced Degree in 2006. Candidates completing an Advanced Degree who are interested in Information Technology must apply to the IT Summer Analyst Program.

What types of positions are available for candidates with master's or Ph.D. degrees?
We hire candidates with graduate degrees into either our Analyst or Associate Programs based on their level of experience.

What academic background must I have?
Morgan Stanley looks for candidates, in all majors, who have a strong interest in business and finance. Our training programs are designed to teach you the basics. We encourage candidates from all disciplines and backgrounds to apply.

What qualities do you look for in candidates?
We seek energetic, creative, well-rounded, outgoing and self-motivated individuals. You need to have the ability to learn quickly, strong quantitative and analytical skills and a desire to thrive in a dynamic, high-pressure environment.

How will I know if Morgan Stanley is right for me?
To learn more about our opportunities, explore our website to gain a better understanding of the Firm, our culture and the responsibilities you will be given from the start. Take time during the interview process to meet as many people as possible and find out if this environment is right for you.

How to apply
When will Morgan Stanley be visiting my campus?
Review our On-Campus Calendar to find out the dates of our campus presentations and interviews, or check with your career placement office.

How do I apply?
Please complete our online application.

Can I apply to more than one division?
Yes, but the more you know about each division, the better. Explore our website to learn more about the opportunities in each area to decide which is right for you.

What happens during the interview process?
Most of our first-round interviews will take place on campus. Depending on the division, second rounds may take place on campus, but all final rounds are held at one of our branch or regional offices.

Does Morgan Stanley offer summer internships?
We have a number of internship programs for qualified university students. To apply, please complete our online application.

Does Morgan Stanley hire summer associates?
We have formal summer associate programs for MBA and other graduate students between their first and second years of business school. The program length is approximately 10 to 12 weeks, and responsibilities vary depending on the divisional program. This is a valuable opportunity for you to gain experience in your area of interest, as well as work on challenging and exciting projects. Please complete our online application.

Recruitment Process

Attend a presentation on campus
The recruiting process begins in September each year, when the Morgan Stanley Recruiting Team presents general information about career opportunities at our Firm. Please review our on-campus calendar for a listing of the dates a Morgan Stanley Asia Pacific representative will be at your school. If you're interested in a career with us, join us for this presentation. Take some time to talk with our colleagues who have worked in the Asia Pacific offices; they'll explain the myriad opportunities available at Morgan Stanley Asia Pacific, share their own observations of the Firm and why they selected it for their careers.

Apply online
We encourage you to review this Careers Website to learn more about Morgan Stanley Asia Pacific and the Business Units that are recruiting. Please use the online application to submit your application — the application has further information on deadlines for each program we recruit for. If you qualify for consideration, we'll contact you to arrange an interview to discuss available opportunities.

Interview with us
We typically have at least two rounds of interviews for our graduate and summer programs.

Interviews will be arranged either on campus or via phone for the first round. Each candidate can expect to have approximately 2-4 30-minute interviews.

The final stage of our process is usually a full-day interview session held at Morgan Stanley's offices in New York, London, Beijing, Hong Kong and Singapore. If you need to travel more than a day, you will be accommodated in a nearby hotel.

These interviews are with our professionals at all levels of seniority and are designed to help you learn more about us, meet our professionals, find out more about the role and what it is like to work at the Firm. It is also an opportunity for us to meet you and have a clear picture of your suitability for the role you have applied for. Typical areas that are explored in our interviews include: problem-solving, analysis, intelligence, decision-making, leadership, interpersonal skills, motivation, beliefs and values, career aspirations, knowledge and/or technical capability.

If we don't visit your school
Unfortunately, Morgan Stanley representatives can't visit every school. However, please read through this website for more information about Morgan Stanley Asia Pacific, review the job descriptions for the Business Units that are recruiting and complete our online application

Interview Questions (Asia Pacific)

A successful interview requires solid preparation. Your answers should be clear, concise and show your genuine interest in the Firm. Interview questions are not always difficult; in fact, some can be quite simple.

Below are some examples of general interview questions you may be asked. You should also be prepared to answer specific queries about your background, your qualifications, previous internships or positions you've held, your school experiences and the accomplishments included on your resume.

We are interested in testing your interpersonal skills, motivation, career aspirations, company fit and leadership.

You should come with questions for us as well! The interview is an opportunity for you to ask about your role and responsibilities, the division you are applying to or Morgan Stanley in general.

Your school's career services office, library or resource center can help you find other sources and questions as you prepare for interviews.

General Interview Questions
> Tell me about yourself.
> What are your strengths and weaknesses?
> How would your friends describe you?
> Are you entrepreneurial?
> What are the most important things to you in a job?
> Give me an example of a situation where you demonstrated leadership.
> Give an example of how you worked on a team.
> How creative are you? Give an example.
> Why are you interested in the industry?
> Why did you choose to interview with us?
> Who have you met from our Firm? What did you learn from him/her?
> Describe the ideal position for you within our Firm.
> What qualities do you think make someone successful in business?
> Why do you think you are qualified for this position?
> Why did you select your college or business school?
> What courses have you liked most? Least? Why?
> What are you learning that will help you in your work with us?
> What do you do in your spare time?
> What would you like me to know most that is not in your resume?

Interview Questions (North America)

A successful interview requires solid preparation. Your answers should be clear, concise and show your genuine interest in the Firm. Interview questions are not always difficult; in fact, some can be quite simple.

Below are some examples of General Interview Questions, as well as specific questions for Investment Banking and Sales and Trading. You should also be prepared to answer specific queries about your background, your qualifications, previous internships or positions you've held, your school experiences and the accomplishments included on your resume.

You should come with questions for us as well! The interview is an opportunity for you to ask about your role and responsibilities, the strategy of a specific group or Morgan Stanley in general.

Your school's career services office, library or resource center can help you find other sources and questions as you prepare for interviews.

General Interview Questions
> Tell me about yourself.
> What are your strengths and weaknesses?
> How would your friends describe you?
> Are you entrepreneurial?
> What are the most important things to you in a job?
> Give me an example of a situation where you demonstrated leadership.
> Give an example of how you worked on a team.
> How creative are you? Give an example.
> Why are you interested in the industry?
> Why did you choose to interview with us?
> Who have you met from our Firm? What did you learn from him/her?
> Describe the ideal position for you within our Firm.
> What qualities do you think make someone successful in business?
> Why do you think you are qualified for this position?
> Why did you select your college or business school?
> What courses have you liked most? Least? Why?
> What are you learning that will help you in your work with us?
> What do you do in your spare time?
> What would you like me to know most that is not in your resume?

Investment Banking Interview Questions
Within the investment banking industry, questions can be more specific. You should be prepared to describe your understanding of the Firm, the financial markets and how you think you could contribute to the business.
> Why investment banking versus sales and trading? What is the difference?
> Give an example of your quantitative skills.
> In what area of investment banking do you want to work?
> Tell me about the time you worked the hardest in your life.
> Tell me about a time you had to develop relationships with others.
> Do you follow the market? For how long? Do you invest?
> Describe a situation in which it was difficult to obtain information you needed, and how you managed to be successful.
> Do you follow any stocks? Which ones and why?
> What was Morgan Stanley's stock price yesterday?
> Describe an instance in which you've had a significant impact on a situation, either inside or outside your job.

Sales & Trading Interview Questions
Sales & Trading positions require you to think quickly and have a keen interest in the markets, a tolerance for risk and selling skills.
> Why Sales and Trading versus Investment Banking?
> Are you interested in Sales or Trading? Why?
> What does a Trader do? What does a Salesperson do?
> Do you want to sell or trade equity or debt instruments? Why?
> How do you measure success in your life?
> What makes you think you can sell?
> What about your personality will make you a good Trader?
> If interest rates rise, what happens to bond prices, and why?

Interview Hints and Tips

In order for you to get the best out of the interview and for us to get the most from you it is essential that you prepare for your interview. You should take time to think about your experiences to date, e.g. academic achievements, previous internships, and positions of responsibility and how to use these experiences to illustrate your answers. During these interviews we will also be looking for you to show that you have thought clearly about the division you are applying to as well as a strong interest in Financial Services.

You should come with questions for us as well! The interview is a two-way process and is just as much an opportunity for you to find out about us, our culture and more about the role and responsibilities. Try to relax and enjoy the interview.

Your university careers office can provide extra help to prepare you for interviews and we have also included some example interview questions below to get you started.
• What are the most important things to you in a job?
• Give me an example of a situation where you motivated others
• Tell me about a time when you worked as part of a team.
• What attracts you to a career in this industry?
• Why did you select your university?
• What courses have you liked most? Least? Why?
• What are you learning that will help you in your work with us?
• Tell me about a time you had to develop relationships with others.
• Describe a situation in which it was difficult to obtain information you needed, and how you managed to be successful.
• Describe an instance in which you had a significant impact on a situation

Recommended Readings (ASIA PACIFIC)

There are literally hundreds of sources of information about the financial services industry and Morgan Stanley. Your school's career services office or resource center may gather this information for you and help you select other sources.

The first place to begin is our corporate website, morganstanley.com. From research reports to company news to global economic data, this site is updated daily and can provide you with in璬epth information about the Firm, our products and our industry.

U.S. Publications
> Barron's
> Fortune
> Forbes
> International Financing Review
> Institutional Investor
> Investment Dealers' Digest
> Investor's Business Daily
> Red Herring
> The New York Times
> The Wall Street Journal
> www.bloomberg.com
> www.TheStreet.com


European Publications
> The Financial Times
> The Economist
> Prospects Directory
> GTI City and Finance Journal
> GTI Target Group
> GTI Careers Service Guides
> Career 2000 Magazine
> GTI IT NOW
> www.citykid.co.uk
> Oxbridge Guide to Investment Banking


Asia Pacific Publications
> Asian Wall Street Journal - www.awsj.com
> Finance Asia - www.financeasia.com
> Far East Asian Economic Review - www.feer.com/
> South China Morning Post, HK - www.scmp.com
> Australian Financial Review - www.afr.com
> Business Times Singapore - business-times.asia1.com.sg/home/
> Korea Herald - www.koreaherald.co.kr/
> Bangkok Post - www.bangkokpost.net/
> iDS Finance - www.idsfinance.com/
> Quamnet - www.quamnet.com/fcgi-bin/index.fpl
> Asiamoney - www.asiamoney.com/
> The Asset Online - www.theassetonline.com/
> Morgan Stanley China Website - www.morganstanleychina.com

Financial Terms

Analyst: An entry-level point for college graduates into Morgan Stanley; in Equity Research, a senior member of the research team.

Assets: The various resources that an individual or organization owns.

Associate: An entry point for graduate students into the Firm; Associates generally manage a team of Analysts.

Block Trade: A trade that involves a large quantity of stock (i.e., 10,000 shares or more) or large dollar amount of bonds (i.e., $200,000 or more).

Bond: A loan that entails a promise by a corporate, municipal or government entity (the borrower, or "issuer") to repay a borrowed amount ("principal") on a specific date ("maturity") at an agreed-upon interest rate.

Commodities: Raw materials such as precious metals or grains, contracts for which are bought and sold on commodities exchanges.

Controllers: The department within a firm that oversees financial accounts and transactions.

Debt Capital Markets (DCMS): Responsible for soliciting, structuring and executing Morgan Stanley's investment grade debt and related product businesses, including new issues of both public and private debt.

Derivatives: Options and futures on various securities or commodities.

Equity: The monetary value of the ownership of an investment.

Equity Capital Markets (ECMS): Undertakes the origination, structuring, marketing and pricing of public offerings and private placements of equity and equity-related securities.

Equity Financing Services (EFS): EFS is an equity facilitation business providing sophisticated global products and services to performance-oriented money managers. The two primary businesses within EFS are Prime Brokerage and Securities Lending.

Equity Research: Analysts in Equity Research focus on understanding the fundamentals of the economy, an industry or an individual business to assist the Firm's clients in making sound investment decisions.

FID: Abbreviation for the Fixed Income Division at Morgan Stanley.

Finance: The Finance division is a service organization responsible for the guardianship of the Firm's financial well-being, and consists of five departments: Controllers, Treasury, Tax, Risk Management and Investor Relations.

Fixed Income: Bonds, bills and interest-bearing notes that pay a specific interest rate over the life of a loan.

Future: A contract that obligates its holder to purchase or sell a commodity or security at a specific price on a given date.

FX: Abbreviation for Foreign Exchange.

Hedge Fund: A fund that offers an investor balance, or a "hedge," against the risks of other investments.

Hedging: An investing strategy designed to balance, or "hedge," investment risks.

High Yield Capital Markets (HYCMS): A group within Investment Banking that works closely with Corporate Finance and dedicated high yield sales, trading and research professionals in the Fixed Income Division to originate, structure and execute public and private placements of high yield debt securities for non-investment grade domestic and emerging market corporations and sovereign entities.

IBD: Abbreviation for the Investment Banking Division at Morgan Stanley.

IED: Abbreviation for the Institutional Equity Division at Morgan Stanley.

Index: The mathematical value of an asset grouping. Through indices, the performance of various market sectors can be measured over time.

IPO: Abbreviation for Initial Public Offering, the inaugural issuance of stock or other securities by a company for sale to the public.

Issue: Financial securities that are made available for sale.

MD: Abbreviation for Managing Director, a senior member of Morgan Stanley who oversees a team of Analysts and Associates.

Mergers, Acquisitions and Restructuring Department (MARD): The M&A department within the Investment Banking Division.

Morgan Stanley Realty (MSR): MSR provides a broad range of investment, financing and advisory services to domestic and international real estate companies through three distinct groups: The Real Estate Banking Group, the Real Estate Debt Capital Markets Group (REDCM) and the Morgan Stanley Real Estate Fund (MSREF).

Morgan Stanley IM: Morgan Stanley Investment Management.

Option: An investor's right to purchase or sell a security or commodity on a specific date for a predetermined price. If this right is not exercised by the option's expiration date, the investor forfeits the investment.

Private Equity: Capital provided to investors in companies that have demonstrated operational excellence, sound long-term strategies and attractive growth potential.

Private Wealth Management: Provides highly customized financial advice and investment solutions to individuals, families and foundations with $10 million or more in investable assets.

Prospectus: The legal offering document for an investment in securities, indicating details of terms, fees and changes.

Research Analyst: A graduate-level entry position to the Equity Research division.

Risk: The always-present chance of losses or other negative consequences as a result of an investment.

Road Show: A marketing trip designed to explain and answer questions about a company's business objectives and strategy to potential investors, usually for the purpose of selling those investors an equity stake in the company.

Salesperson: In the financial world, a person whose job is to sell securities for brokers, dealers and/or corporations.

Sales Trader: Acts as the liaison between the Firm's traders and institutional traders; facilitates the execution of the customer's orders.

Securities: Typically, stocks and bonds.

Stock: An investor's ownership of a portion (denominated in "shares") of a corporation.

Syndicate: In the financial world, a group of investment bankers who purchase securities from an issuer for resale to the public.

Tombstone: A print advertisement in the financial press that announces a securities offering.

Trader: A professional who purchases and sells securities for brokers, dealers and his/her own accounts.