eFinancialCareers

Been turned down by a bank and don’t know why? Don’t be afraid to ask for feedback.

When can you expect feedback?

Everyone will give feedback to candidates rejected after second interview/assessment centre, but most say it’s not policy to offer it to candidates rejected earlier in the process. The exception was JPMorgan which said it would offer feedback to anyone who had interviewed at the bank.

Some offer feedback unsolicited. Others expect candidates to ask for it. In all cases, feedback is given over the phone by the graduate recruiter for the relevant division – who may or may not have been one of the interviewers.

How can I find out why I was rejected early in the process?

Officially most employers say you can’t, but unofficially, you might get lucky.

One employer says it doesn’t offer feedback for people rejected after a first interview because it would be unfair (although it’s not entirely clear why). Others say variously: “It depends who’s asking” and “If someone gives us a call and really wants feedback, we wouldn’t say no,” and “We do have instances where people email us after first interviews and we would then try to give it to them.”

Very few students actually ask for feedback at this stage, so there’s no harm in trying. Rothschild estimates that only about 10-20% of first round rejects ask. More surprisingly still, BarCap says only half of its second round rejects take up the offer of feedback – a missed opportunity, if ever there was one.

What’s the most common reason why people are rejected after an interview?

Three of the four employers we asked gave the same answer: insufficient preparation.

“Not having a good enough understanding of what they are applying for, how they may be suited to it, and what they would be doing day to day in their first year,” explains Derek Walker, head of campus recruitment at Barclays Capital.

“Not doing their homework. Having no idea what differentiates us from other employers,” says Raphaelle Mathias, an assistant director in investment banking responsible for graduate and intern recruitment at Rothschild.

“Not being prepared. Not being able to demonstrate competencies or an awareness of the business,” says Nathalie McDermid, graduate recruitment manager at Ernst & Young.

And if you do elicit feedback?

You may hear some uncomfortable truths, but that’s no reason for glossing over them.

“Listen to what the recruiter is letting you know. Use that information to take you forward in any other interviews you have, because most employers have similar processes,” says McDermid.

“Interviewing is not a perfect science but in 95% of cases we will be saying something that has been said about that person before by a teacher, tutor, colleague or friend. Listen, take note and sleep on it. Then talk it over with someone you trust,” advises BarCap's Walker.

Can you reapply after being rejected?

Officially, the answer is yes.

“It’s not uncommon for people to come back the following year and sometimes they are successful. People can change quite a lot over that time,” says Walker.