Barclays Interview
Why Barclays? (Why Spring Programme?)
Barclays is a well known British multinational banking headquartered in London. See the name on the bicycle.
Research more about Barclays, found Spring Programme. (Gain insights, Work shadowing, interactive skill sessions, group projects.)
In the Transform Programme Purpose: Helping people achieve their ambitions- in the right way （君子爱财取之有道）.
5 Values (Respect, Integrity Service Excellence Stewardship)
Recent development of Barclays?
Time is ripe for radical action by Barclays
Idea of breaking up big banks, too big to fail (Lehman Brothers)
A change in the universal banking model. “Universal banking model is dead” said by the Chief Executive of Barclays Group Antony Jenkins in a Financial Times interview.
Suggest of a vast asset swap to turn Barclays into a retail bank. (avoid the costly UK ringfencing rules (when a business financially separates itself from a parent company) in 2019, improve its ROEs which was 3-4 percent at the last count
Why Business Functions? (What is your understanding of the role?) Business Function is connected to Barclays in every aspect. I think every deal, change and transformation made in Barclays is related to Business Functions.
As a LSE student majoring in Management, I actually study several modules that interest me in Business Function (Organizational behavior, Leadership&Communication in teams, Operational Management and Financial Accounting)
A time to persuade others to accept your idea
Group project about leadership, and we have to find a person that is a successful leader.
Team member, typical leader (Steve Jobs, Barack Oboma, Bill Gates, Ghan Di, and Mother Teresa.
Jack Ma, (successful leader)
Google, Research, posted on FB group,
Start to become interested, attractive, start to research by themselves. Need expertise, Cannot force people, motivate people, make them interested in what you believe in, work towards a common goal.
A time to solve a conflict in a team (Give an example of your role in a team--Mediator)
Summer Programme in Wharton
Business Plan, persuade venture capitalist to invest
Brainstorming ideas (Most from different parts of US)
Indian student (India English Tutoring Company)
Most students from US, too culture, little information on Google. Argument. Spend two days arguing about it without any progress.
Run out of time. Talked one to one. Explain the importance of team working (respect, cooperate, listen) Listen to others opinion, decide whether is worth to develop rather than to stick with your own idea. Suggested to him to put his idea aside for a while and listen to other people thought and their business model.
Apologize about the behavior, and actively participate in group discussion rather than further just sticking to his own idea.
Describe an obstacle and what you learn from it?
Experience in the summer programme in Wharton
Public speaking training session to explain an economic concept in front of 120 people (12 will be choosing at random)
English not first language, stage fear, people might laugh
believe in myself, cannot escape(Explained really well,)
Best way to conquer your fear is to face it. What matter is not the
language, it’s the idea, logic and concept about what you are talking about. Language is just a tool, it’s not the purpose of communication. Fail to fufill a task? What did you learn from it?
It was my first project for my business course in grade 10. (Research about a business in secondary sector)
Unclear about instruction, didn’t ask question because no one did During the weekend ask my friends. They didn’t understand too. Misunderstood the meaning, didn’t achieve a great result.
Ask question when I don’t understand. Look even worse when you do something wrong because you pretend you know it (honest.)
Describe a risk you face and how you deal with it.
To spend my whole graduation summer in preparing a language test that may achieve nothing.
Conditional offer from LSE and met all the conditions.
Sudden accident (Contract between ETS and UK home office was expired) Take a completely new test within 2 month, deadline in August Whether I should take the test and fight on or I should give up and go to US. (Chance of getting nothing even choose to fight on)
Don’t want to feel regret. (Regret for the rest of my life)
Work really hard during the two month and tell myself don’t ever think about giving up (already been through so much, already in pain, reward) Take the risk instead of escape from it
Future challenges
Balance between Work, Social and Sleep. (Professor in MIT once said…) To know what I should do as my career, Reason to apply to spring
to find a purpose of life.
Adjust your way of communication to let your opinion heard
High school, group project researching on Chinese clothing manufacturing factories and labour costs
I thought I knew all the knowledge and information about the topic (parents actually manufactures)
In group discussion, Acting cocky and arrogant, rejecting other people’s opinion.
Not working well, don’t take my opinion seriously, separate me from discussion, being isolated in some sense.
Start to listen, and surprised that they did research and had some valuable experience.
Autocratice to democratic. (respect)
Your resource of Financial News
Mainly from Financial Times, Wall Street Journal
Major Chinese website
Some course use Financial News to illustrate some point （Finance part of operational management）
How do you acquire new knowledge? (quick learning experience) Learning Trading of Future, and Candlestick Diagram(apply theoretical knowledge to practical uses) interested by an article talking about competition between traders
Several ways: Internet, books, electronic book, ask friends, even some course taking in universities.
How do you maintain relationship with others?
In order to build a good relationship, trust (most basic and fundamental element)
Honest, respect. If it’s in a team, listen to others, cooperative, engage in team activities
Communicate with them frequently (friends studying in US, through FB and Instogram)
Describe a situation you motivated others
Business Club activities (Selling leaflet to prospective students and their parents on the date of entrance exam)
Total process from planning to finish printing all the leaflet took about one month. Checked weather report which said that day will be sunny However, raining
Original plan (sell leaflet at the gate)
(parents went back into their cars and go to restaurant and hotel lobby) Didn’t have enough people (only 4) difficult to go different places (demotivated, disappointed)
Motivate people, don’t give up, 3hours enough time, called other group members to help.
To our surprise, all parents responded very positively and thought it was incredible to design these leaflet by ourselves. Information we provide was just what they need.
2 hours to sell all the leaflet we had.
Tell me about your greatest achievement
Achievement made in elementary school
Chocolate selling competition to raise fund for graduation camp
One person used parent money and bought 12 boxes of chocolate. Everyone becomes demotivated and quit the competition.
I want to prove myself and did not give up, and made a target to sell one box every day. (doesn’t matter it’s raining, snowing, or weekend) Competition lasted for one month (37boxes of chocolate, 2000 dollars) Break the school record
Realize several things 1. Nothing is impossible if I make up my mind to do it. 2. Preseverance is the key in success 3. Talents in selling products
4. I keep my promise and stand up for what I think is right and fair.
Most innovative idea
It’s a n activity I organized in my business club in my high school. Limited resource and information about my international centre
Build a channel to communicate with potential students and teachers Designed the leaflet and distributed on the date of entrance exam Found the particular demand and supply the need.
Sponsors from educational companies ( create a win-win model for four parties)
Decision making with limited resources
The choice of which student dormitory I live in
Google was banned in China
Only person I could ask is a friend who is one year older than me and studies in LSE
Ended up in Urbanest, (Brand New facilities, only built in 2011, excellent service and environment)
However, too far from school, take tube every day.
Disadvantage resulted from the limited resources
Financial Times
1.Record fall in China industry profits
Decreased by 8% last month (December).
The falling in profit of industrial sector mainly caused by falling prices and overcapacity.
Although oil and other inputs prices fall, the falling prices of finished goods outweighed the profit margins.
The People’s Bank of China lowered interest rates in November (reducing the financing costs for companies). Also injected funds into the banking system to promote consumption.
Affect Interest Rate Products and foreign exchange in the Trading of Global Markets section.
World Economic Forum
Why 2015 is a make-or-break year for the economy
Recovery from the 2008 financial crisis is still weak and uneven Monetary policy (Interest rate control and QE), Fiscal policy (Taxation, Government spending)
Change in culture in financial sector. (trust, ethical behavior)---related to Barclays value.
Financial Times
Career development loans for MBA students 10000 pounds.