You’re hired! Assessment centres and graduate jobs in financial services

Assessment centres are increasingly popular with financial services firms because they offer a fair and effective way of selecting the best candidates.

An assessment centre (typically lasting one or two days) brings together a group of candidates who undertake a series of exercises and assessments. These can include group exercises, a presentation, a series of aptitude tests or a case study linked to the job function that you have applied for. Employers want to see your motivation to work in the role, that you’ve researched the position and the firm and that you display the competences that are important for the role – for instance being organised and able to communicate effectively. 

Every financial services firm will design its own graduate assessment centre. If you identified its selection criteria for your first interview, keep them in mind throughout your time at the centre: every test, exercise and interview will match you against these criteria.

Coping with group exercises at a finance assessment centre

Group exercises include discussion groups, exercises that involve role-playing a specific brief, leadership tasks, and, most commonly, job-related scenarios that test your ability to operate in a task that approximates the area of work you have applied for. Remember that by your actions and words you must help the group to complete the task and promote your own cause.

Doing a financial presentation

At some assessment centres you will be asked to give a presentation, usually to a mixed group of candidates and assessors. Here are a few ground rules:

• A structure is helpful to prevent your mind from going blank and will help the audience keep track too. Use whatever form of notes you feel comfortable with, but never speak from a script.
• Don’t attempt to fit in too much information or your audience will switch off. Five minutes is only enough time to present four big ideas or messages.
• Much of the message of your talk will be transmitted non-verbally, so your body language can make a huge difference to your presentation.
• You may be invited to use a flipchart, an overhead projector (OHP) or Powerpoint slides – use these to your advantage to support and back up your presentation.

Passing psychometric and personality tests for a graduate job in financial services

These are often used as part of the assessment process (although not necessarily at an assessment centre). Recruiters often use assessment centres to check that any online tests you’ve taken are a true reflection of the score you would have received if the test was done in-house. You may also be asked to take further assessments. General ability tests assess general intelligence. Expect to be asked to use complex information, in the form of words, numbers and diagrams, to solve problems using logical or lateral thinking. Tests designed to examine specific abilities are also common. These are most likely to be numerical or verbal reasoning tests, which will be specific to the job you have applied for.

Aptitude tests assess your ability to learn something new. Employees are increasingly expected to be flexible and adaptable in the workplace, so those who can develop new skills quickly and competently are in high demand. Finally, don’t forget that during the recruitment process, employers only have a short space of time in which to get to know you. Personality tests help to give them a better picture of the kind of person you are. They are not in-depth analyses of your innermost thoughts and there are no right or wrong answers. To be successful, honesty is the best policy.

Don’t stress

Just be yourself and try to relax – this will make the whole experience much more enjoyable for you and, as an added bonus, you’ll have a much better chance of making a good impression. ‘Candidates shouldn’t be too distracted by nerves,’ one recruiter told us. ‘Nobody wants them to fail! We have invested so much money in the recruitment process leading up to the assessment centre; we genuinely want them to do well and be the right people for us to recruit.’

Recruiter tips: be prepared

• Do your research beforehand so you aren’t taken by surprise on the day. Talk to careers advisers, friends who have applied to the same organisation and members of staff, and go to assessment centre skills sessions put on by recruiters at universities.
• Once you know what to expect, sit down with a piece of paper and think through what skills recruiters are looking for and how you can demonstrate them. If you’re lacking in particular skills, consider how you can build them up.
• If you’ve already had a first interview, take some time to reflect on what you were asked and think about how you will supplement the answers you gave.
• Plan your journey in advance (and have a back-up plan) and get a suitable outfit together. Once you’re there be polite to everyone you meet.

Recruiter tips: on the day

• Always arrive on time: assessment centres start promptly and if you are late you may not be able to attend the day. 
• If you can’t attend the assessment centre, don’t leave it until the last minute to let the company know. It is unfair on other candidates who could have been invited in your place. It is also not a good reflection on you personally – if you are still serious about your application it will reflect negatively.
• When sitting in groups with other candidates, try to make conversation as this will help you to relax. Don’t ignore them – recruiters will be looking at how you interact with other people.
• When doing presentations, don’t just talk to the flipchart – make sure you listen to your colleagues and their points of view.
• During group discussions, don’t talk over others or speak while someone else is speaking. You won’t receive a better assessment for having the most to say! You will achieve more if you think before you speak, listen to others and ask structured and thoughtful questions.