JP Morgan Quantitative Research Interview

[nkapai]

Hi Guys,

I was interviewed by JP Morgan for the position of Senior Associate/VP role in their Quantitative Research division in Mumbai office. There were a total of 6 rounds (5 technical + 1 behavioral with London ED). This happened last week (1st March). Since then there is no response from HR. I tried to follow-up with her but she told me that she will update me as soon as she get any information. I then directly approached one of the ED who interviewed me. He told me that I will get update on my candidacy a couple of weeks later (approximately 10 days from today).

My questions are:

1) Does JP Morgan usually takes 4-5 weeks of time in giving you final response?
2) Does JP Morgan out rightly update the candidates who does not make it within a couple of days? (I got this info from other Quant discussion forums)
3) Final question, Does I stand a good chance to clear the interviews since they are taking 3 weeks to give me final answer?

 

[nkapai]

Any response guys?? It will be really helpful.

 

[WorkofArt]

I think you have better chances of getting your questions answered on other forums, not here.

 

[mathromancer]

WorkofArt - do you have a suggestion for what forums to ask on?

I had a quant interivew with JPM as well, but in US. They are just slow.

 

[nkapai]

@mathromancer: How many rounds of interviews did you go through? What was the length of the interview process?

 

[mathromancer]

First round was an interview with the hiring manager, mostly behavioral with some background discussion and the second round was a series of 7 interviews each about an hour. Each of these 7 were a mix of technical, background, behavioral. Interestingly most of the questions I got were related to coding and not math brainteasers.

I completed my interviews more than a week ago but I am still waiting to hear the result. HR has told me that they are still waiting on all the feedback.

@nkapai What other quant forums are there?

 

[nkapai]

@mathromancer: I posted this question on wallstreetoasis. That's another quant forum I know of apart from Quantnet. No response on wallstreetoasis yet.

Wrt your interview process, my first round was based on maths (stochastic calculus) and work experience (Questions related to Hull White One Factor Model). Then I had 2 interviews again based on stochastic calculus and linear algebra. My fourth round was based on programming. They expect you to know C++ and Python.

My fifth round was based on work experience (The interviewer grilled me on Credit Default Swap since I did its pricing for one of the bank). The final round was purely behavioral and was more focused on why I want to join JP Morgan etc. etc.

Generally math brain teasers are asked in the FO roles (Derivatives Pricing/modeling) or Strats profile (Atleast based on my experience in India). In typical Model Validation role, focus is more on experience in validation of pricing models, coding, stochastic calculus etc.

Same case as you said. It's been 2 weeks and there is no response yet. I followed up with HR and was notified that they will provide the feedback after 2 weeks. Keeping my fingers crossed.

 

[mathromancer]

I see. My background is phd in a quantitative field but not stochastic calculus related. The role I applied to is not related to derivatives pricing (it's in credit trading) so I didn't have stochastic calculus questions, and I don't have previous quant experience so they didn't ask me about things like Hull White and CDS.

I've heard from others that JPM is generally slow in sending offers. I received an offer from them a few years ago (for data science, not quant) and I think it took about 2ish weeks from final interview to offer.

Best of luck to both of us. I really liked the team I interviewed with and hope I get an offer!

 

[nkapai]

Ok. So based on this, we should expect a response from them next week! Good luck!!

 

[TheComplexUnit]

I'm a quant working for JPM (London). In my experience the firm is slow. At some point in the interview process I endured 5 weeks of radio silence.

 

[mathromancer]

Do you know what the typical reason is for the slowness? Because they are unsure of which candidate to choose? Because they interview a ton of candidates? Because they have to get the offer approved? All of the above?

 

[TheComplexUnit]

They do interview many candidates and there is a lot of bureaucracy. Furthermore, most people are just fairly busy with day to day work, so pulling the trigger on a hiring decision rarely is on top of a list of priorities.

I believe the firm is very aware that its hiring process could be running more smoothly. Hopefully things will change for the better, but don't hold your breath....

 

[mathromancer]

Thanks for the info. I actually just had some more interviews with JPM earlier today (though with a different team). I guess I'll have to settle in for a long wait then!

My main worry is that I'm going to get an offer from somewhere else (and I think I'm about to, from several other places) but that JPM won't be able to give me a decision in time.

Is JPM quick to reject but slow to offer? That is, if I go a week or so without hearing anything is that good news? Or is it often the case that you will wait several weeks even if it is a rejection?

 

[nkapai]

@mathromancer: Same condition with me. I am currently interviewing with another BB. I haven't heard from JPM for past 2 weeks.

@TheComplexUnit: If we haven't heard from HR of JPM for more than 2 weeks, is it a good sign or bad sign? Does JPM HR inform about rejection within a week?

 

[TheComplexUnit]

I don't know the details ... Few people would I suspect (unless you're the hiring manager, there is a total lack of transparency vis-a-vis recruitment). I would say that not hearing from HR for the longest time is normal. Usually this process is run out of a back-office. These people have no clue, simply operating based on decrees by hiring managers overseas. Unless they explicitly receive instructions to do otherwise, they will almost surely ignore your pestering emails.

To repeat myself, after I finished my technicals I waited five weeks just to be pulled back for further interviews (same position). This should set the benchmark.

 

[mathromancer]

Lol that sucks. Were your extra interviews also technical?

At this point i'm very worried I'm going to get an offer from somewhere else (that I don't like as much as JPM) but JPM won't be able to give me a decision in time.

 

[nkapai]

@TheComplexUnit : Thanks for the response. It definitely calmed my nerves! Will update here if I hear something from them.

 

[mathromancer]

I contacted recruiter again and was told they are waiting to hear from the team on next steps.

 

[nkapai]

@mathromancer: Be patient in this case then. I contacted my hiring manager directly and he told me that HR will contact you after 2 weeks (Next week).

 

[mathromancer]

Got it. Waiting is so hard though :D I am going through similar waiting at Morgan Stanley...it seems that's just how banks are lol.

The good news is that I was told my feedback was positive so I hope that means I will get an offer.

Good luck to us both, hopefully we both get good news next week. Who knows...we may even end up being coworkers!