We’ve Cracked the Code on the New Investment Banking Interview that Everyone Hates

As companies resort to technology to find more convenient processes, new alternatives to traditional procedures like recruitment interviews start to rise.

HireVue is an example of that. Thanks to this digital recruitment alternative, large investment banks such as Goldman Sachs and JP Morgan can review more candidates in less time.

The process is quite simple. You get the HireVue invitation, you sign up to the software, and get video questions resembling a traditional interview. You will have 30 seconds to assess the question and three minutes to reply the best you can — all of this without having an actual person talk to you.

However, the lack of human interaction is why most people hate this new alternative. Even though it might be great for shy people that would avoid one-on-one conversations, a lot of people also think this method is dehumanizing.

But why has this software been so successful, then? The truth is that it’s a great advantage to companies. HireVue not only records your answers, but they also mix video interviewing and artificial intelligence to get the most out of that first contact with a candidate. Algorithms collect non-verbal cues such as body movements, details of clothes, tone of voice, eye movements, and facial expressions. The software turns this information into data points and analyzes them to provide insight to HireVue clients.

Besides, it saves time, transportation, and it helps them find the best talents for further one-on-one assessment. As we can expect with these pros, this new method of recruiting is not going anywhere. Regardless, it still puts candidates into a pretty uncomfortable situation, so you have to be ready for when it knocks on your door anytime soon.

These are our top tips for acing investment banking HireVue interviews.

Before The Interview

  1. Get everything ready.

You will want to have everything ready before your interview. Even though you’re the one who chooses the time of the meeting, finding out that you’re not entirely prepared right before it is a massive inconvenience. Before clicking that invitation link, make sure you have the following things in check:

  • Adobe Flash Player

  • A webcam, an external one will offer better quality, but a built-in one will also get the job done. Try to keep it at eye level to avoid awkward angles.

  • A microphone.

  • A static chair. If you use a swivel chair, you will tend to move because the chair allows it, and this will only make you look nervous throughout the interview.

  • Appropriate attire. Even though this is a video interview, you will still have to look professional and well-manicured.

  1. Find a great spot with no distractions.

To have an excellent backdrop for your video, you have to make sure you have a clean and well-lit background with no distractions. Some common disturbances are:

  • A messy setting

  • Pets in the room

  • Loud noises

  • People walking into the room

  • Your phone being too close to the mic, either vibrating or ringing.

Distractions create bias in the recruiter reviewing your performance, and they take away the focus away from you. They could ruin your chances if you don’t take care of them before your interview.

  1. Let people know you will have an interview.

If someone lives with you, let them know when you’ll be recording your answers, this way they won’t create some of the previous interruptions. However, if you live alone and have pets, ask someone you trust to take care of them while you have the interview.

  1. Prepare for the questions.

Prepare as if you were taking that interview in an office inside your dream firm. Look for sample questions and study hard, always practice your answers. Try saying them looking directly at the camera for practice, that way you will feel more comfortable during the actual interview.

Ask a friend to have a Google Hangout with you so that you can practice even further. Google Hangouts will record your conversation and upload it to YouTube so you can later review it. Thanks to this option, you will be able to not only check your answers and delivery, but you can also make sure your background looks perfect.

If you tend to forget a specific point in your answer, you can use sticky notes around your computer screen to keep reminders at eye level. This way, you won’t have to look down while answering.

  1. Get to know the software.

Spend some time getting to know HireVue and how it works. You don’t want it to be an obstacle while you record. You’ll likely get practice questions that will allow you to record yourself with no pressure at all. Then see how well you performed to correct minor details. This practice round will polish your delivery and make you look more prepared.

When you’re finally ready, just click Continue to Interview.

During The Interview

  1. Look at the camera.

You will only have one chance to record your answers, so you have to knock it out of the park. This is why it’s so important to practice your responses before your interview. Remember to look straight at the camera while your answering to make it seem like you’re keeping eye contact with your recruiter, this is crucial. If you find it too difficult or awkward, just ask a friend to sit behind the computer while you answer the questions. This will make it feel like you’re talking to someone else; however, you will still have to look into the camera.

  1. Relax.

The bankers examining your performance will expect you to be uncomfortable, so they will understand if you look a bit awkward in front of the camera. You don’t have to carry this massive weight over your shoulders trying to look like a YouTube star.

Relax and be confident about your answers, try to show your personality during the video. Your attitude will shine through the screen and get you that face-to-face meetup. Also, check out https://soundcloud.com/wallstreetmastermind for more in-depth info about investment banking interviews. They have a great podcast about it there.

Even though the HireVue interview is becoming more and more popular, they still don’t replace traditional meetings. HireVue will only be a convenient and time-saving opportunity for you to showcase your personality and talent to investment banks. Follow our advice to make the most out of it, and you’ll surely get that second interview.