Wachovia & SB interview process (help)

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Jul 16, 2006 8:00 pm

I just spent two hours reading most of the posts about newbies and

getting hired at different firms. However, I need some help on my

specific situation.



So any knowledgeable answer will help please. I’m 23 and just graduated

with a non-finance degree from a good university, no previous sales

experience but have a big (parents) name in a growing community.



I recently met with the Smith Barney Branch Manager. After speaking with

her for about 30 min about my resume and how the hiring process went

she setup a date to take the training assessment exam. I took it on

Friday and thought it was much more difficult then everyone else

described on this forum. If I failed it but impressed her with my hard

working skills, drive and determination to succeed in the business, do I

have any chance of getting hired?



Next, I have another interview/ assessment exam with Wachovia

Securities tomorrow. Has anyone taken the Wachovia exam? Can I use a

calculator? Is it timed like SB? This will be my third time visiting

Wachovia. First was to meet the BM, second was a follow up to ask me

about some books the BM wanted me to read to make sure I was ready to

go on from there and also to fill out an application. What should I expect

from him? Good, Bad, do I have a chance? Or should I start with an

easier firm to get started? I know I have what it takes to succeed in the

business, I just need someone to give me a chance.

Jul 17, 2006 11:16 am


If I failed it but impressed her with my hard
working skills, drive and determination to succeed in the business, do I have any chance of getting hired?


If you fail a test, chances are, they will not hire you. This is their preliminary screen to see if you have the ability to pass the 7. What do you have, other than words, that will show her you have the "drive and determination to succeed in the business"?



second was a follow up to ask me
about some books the BM wanted me to read to make sure I was ready to
go on from there



What books did he want you to read?



Or should I start with an
easier firm to get started? I know I have what it takes to succeed in the
business, I just need someone to give me a chance.


What do you mean by "easier" firm?

Jul 17, 2006 12:36 pm

Ya, that’s what I figured. I think I might just be looking into it too much. I

probably did fine on the exam. The BM told me to read The Millionaire Next

Door and The New Financial Advisor, which he had for me behind his desk. I

read them both in one week and returned them to him. Both were very good

books. If any of you haven’t read them, I would suggest both.



What I meant by easier, was a firm that is more willing to give me a chance

being that I am young and not very experienced.

Jul 17, 2006 10:38 pm

How did you do at Wachovia?  Do they have a training program?


Keep us posted and best of luck!


Jul 19, 2006 9:31 pm

Well, I took the exam at Wachovia. I was informed by someone that I

could use a calculator but this was not the case said the Branch Manager.

I could only use a pen and paper for the assessment test. After finishing

the exam, I knew I didn’t do very well. The BM asked me back in his

office and he said he wanted to know my score. So he made a phone call

and found out that I failed it. I wasn’t surprised. However, he said he

would make another phone call to see if I can take it again or what else I

need to do from there.



Does anyone know if I can take the exam again? From what he said it

sounds like he still wants to higher me but wants to make sure I can pass

the series 7 first. He is supposed to call me in the next day or two.



Does anyone know more about the training program at Wachovia? I also

have an interview next week at UBS. Any advice?





Jul 19, 2006 9:35 pm

Advice? Use your phone for the test , thats what I did for the test. The

questions with regards to finance you just need to know, if you don't I

suggest you read the Journal every day and Barrons on the weekends. I know

that sounds stupid, but when i first got into the business I didnt have a clue

about finance either. You would be surprised how much you can learn from

reading the journal and barrons. It helps too while your studying for the 7

because everything you are studying, you can actually apply to what you

read in those two publications. Best of luck to you on your interviews.

Jul 19, 2006 9:39 pm

This helps you zero, but the fact that some of these Series 7 "qualifying" exams don't allow calculators is a joke.  If calcs are provided for the Series 7 exam, they should be allowed for these dumb tests as well.  FWIW: SB and MS didn't require them.

Jul 19, 2006 9:47 pm

Why do you want to do something that you don't have the competence for? Have you considered government work? They love dumb people.

Jul 20, 2006 12:41 pm


I agree with cranky.  MOVE ON.  Those are pretty basic tests.


You would probably puke after you read one chapter of the Series 7 books.


Don't waste your time or his.  Honestly, read one chapter (that should take you 3 days by the way) and then give us some feedback.

Jul 20, 2006 7:24 pm


I agree with cranky.  MOVE ON.  Those are pretty basic tests.


You would probably puke after you read one chapter of the Series 7 books.


Don't waste your time or his.  Honestly, read one chapter (that should take you 3 days by the way) and then give us some feedback.



This lady is high on her career at Ray Jay…… Don’t listen to her.  


  


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If you really want to be in this business prove yourself to these branch mgrs.  You persistence will take you much farther than any entrance exam will..



If these firms tell you no, and I am guessing they will, don’t get discouraged.  You have to be very bold and ask them outright, “where do you recommend I start”.



Stay in touch with these branch managers and keep asking them for a job- call them at least once a month and try to run in to them in a social setting.  Meanwhile, get your licenses its not hard to find sponsorship.  If you don’t want to go take the 7, get the series 3.  Use STC prep materials.  Dearborn B*L*S!



If you have the series 3 you will not have to take an entrance exam the next time.  PM me if you ever have any questions. 


 


Lastly, there are two individuals on this forum that are excellent resources for rookies.  I suggest you pm them.  They are always willing to answer serious questions.     



Shmer33