Online Application
This will take between 30 minutes to an hour. It requires you to fill out your educational career, attained and projected grades, contact details and answers to questions related to Bank of America.
It is crucial to convey your suitability for the programme and the value that you would derive from it at every stage of your application process.
Virtual Interview
If you are successful in Stage 1 online application phase, you are invited by email to complete a virtual video recording interview. This interview is not live, the website prompts you with five interview questions, for which you are given 30 seconds to prepare your answer and two minutes to record yourself speaking.
How to respond for success
Dress professionally! Although virtual, it is still an interview that will be reviewed by BofA’s campus recruitment team. Before beginning the virtual interview, ensure that your webcam, microphone and internet connection are functioning properly. Set yourself up in a quiet place with good lighting and a tidy background where you will not be disturbed.
The interview was largely competency-based questions, i.e., questions prefaced with “name a time when you demonstrated....’. Prior to the interview, prepare some responses to these types of questions and practice saying them in the mirror in a confident tone. Be aware that you are given a maximum of two minutes to give your answer to these questions, but you can end your recording before the two minutes have ended. Jack recommends aiming to keep your answer in the 75-90 second range.
The final question asked Jack to talk about a recent news story in the financial markets that had interested him. In preparation for this question, try to find an interesting story that could have had implications for Bank of America, and talk in detail about your own opinions on the matter and what it could mean for the broader financial markets.
Expect a 1-week wait before progressing to the next stage.
Final Interview
This is the final stage of the application process. An analyst at the bank will call you by phone at a previously agreed time and date, usually in the evening due to the busy schedules of IB analysts.
Example task
These questions are generally not very technical, and follow the regular format of competency and motivation-based questions, e.g. What makes you want to work for Bank of America? Why have you applied to this division in particular? These questions are where your knowledge of the company and the lines of business are crucial, explain to the interviewer what sets Bank of America apart from other IB’s for you, and explain what interests you about the division that you have applied for.
How to respond for success
Prior to the interview, practice your responses to basic motivation and competency based questions by yourself. However, avoid preparing ‘scripts’ that you read off during the interview, as this tends to come off sounding very robotic and rehearsed and your interviewer will most likely pick up on it. Take some time to reflect on what you like about the company and why you would like to work there, and think about how you will demonstrate this enthusiasm in responses that sound authentic and genuine.
At the end of your interview, the interviewer will ask you if you have applied to similar programmes at any other banks. Avoid saying that you have applied to many / all of them, even if you have. This will, in the interviewer's mind, render everything you said about what sets Bank of America apart in-genuine. Jack recommends saying that you have also applied to JPMorgan and Goldman Sachs if you have because these are two American banks with similar values.
Expect a 2-week wait before receiving your offer!
Final Interview
This is the final stage of the application process. An analyst at the bank will call you by phone at a previously agreed time and date, usually in the evening due to the busy schedules of IB analysts.
Example task
These questions are generally not very technical, and follow the regular format of competency and motivation-based questions, e.g. What makes you want to work for Bank of America? Why have you applied to this division in particular? These questions are where your knowledge of the company and the lines of business are crucial, explain to the interviewer what sets Bank of America apart from other IB’s for you, and explain what interests you about the division that you have applied for.
How to respond for success
Prior to the interview, practice your responses to basic motivation and competency based questions by yourself. However, avoid preparing ‘scripts’ that you read off during the interview, as this tends to come off sounding very robotic and rehearsed and your interviewer will most likely pick up on it. Take some time to reflect on what you like about the company and why you would like to work there, and think about how you will demonstrate this enthusiasm in responses that sound authentic and genuine.
At the end of your interview, the interviewer will ask you if you have applied to similar programmes at any other banks. Avoid saying that you have applied to many / all of them, even if you have. This will, in the interviewer's mind, render everything you said about what sets Bank of America apart in-genuine. Jack recommends saying that you have also applied to JPMorgan and Goldman Sachs if you have because these are two American banks with similar values.
