So you’ve made the decision to explore the market. You’ve written your CV (check out our other blog if you need some help!) and now, all you have is a few interviews to get through…. Oh wait, interviews?! We have put together a 4-step guide for Software Engineers to get through technical interviews with businesses within the electronic trading (eTrading) space – namely Quant Hedge Funds, Prop Shops or Crypto trading firms (although there will probably be some overlap for Banks, FinTechs, etc. too).

But before we jump in, let’s start with what you can expect from an interview process with hedge funds, prop trading and crypto trading firms. This is a general guide, but hopefully you will feel a little more prepared by the end.

Firstly; interview processes are robust and rigorous. Typically, you get 1 chance to apply to these firms within a 12-month period (that’s regardless of going through a recruiter, direct, through a referral, etc). Make sure that you check if you have been submitted or applied previously, as this information is important! Duplication doesn’t look good for anyone… And if you have applied before, we would need to outline what makes this time different! We have plenty of examples of someone not getting an offer initially, then successfully joining the business a few years later once they have developed some specific skills and understanding, or because the client’s requirements have changed, but of course, getting an offer first time round is the ultimate goal.

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Interviews also tend to evolve depending on the seniority of the role you are interviewing for – a graduate will have a very different experience to a Technical Lead (understandably). But because eTrading businesses don’t tend to have structured bandings like you might get at a Bank or a MAANG company (as teams are typically smaller with flatter structures) seniority is defined by your ability to contribute and your proficiency, rather than purely years of experience.

So what does a typical process look like?

• A remote technical interview with someone in the team, including some split screen coding.
• A take-home assessment (can be timed or open-ended).
• 3-5 more remote technical interviews.
• An onsite interview (or virtual if required) – normally a half day where you will meet with some more developers from the team you are interviewing for and/or adjacent teams, as well as some stakeholders (i.e. Quants, Traders), and potentially the CTO.
• A conversation with TA/Internal Recruiters to discuss offer details (comp, non-compete, notice, etc).

Companies will do their best to accommodate your timings and schedule – they appreciate you probably have a full-time job to do too! Often you will speak with people from different teams or geographical locations which can make scheduling a little difficult, so do your best to be flexible as and where you can (as this makes things easier for everyone!). No one wants processes to drag out too long; typically 1 – 3 months would be the end-to-end duration of an interview process.

It is important to note that although you are being interviewed, it is very much a two-way process. The role and company have to fit you as much as you fit them – it must be mutually compatible. If at any point during the process you have additional questions or concerns, you should let us / your recruiter / the internal HR/BD teams know so that additional, concurrent conversations can be arranged as required.

It may look like a very long process, but it also gives you the opportunity to speak with multiple different people from the business, and get a good feel for what it would like to work there. Use these conversations to build up a picture of the role, team and company, so you can make an informed decision if it’s the best next step in your career.

Although these businesses look very similar on the face of things, they do differ quite considerably behind closed doors. This also impacts how they run their recruitment processes – some are very open about who you’re meeting and what to expect, others can be a little more conservative. We (as your representative) will help to guide you through this process as much as we can throughout – sharing our knowledge and experience obtained over many years to give you the best opportunity to demonstrate your skills and impress!

This probably all sounds a bit daunting – but don’t be put off! We have had many people leave interviews with very positive experiences, where they have learnt something new or worked through an interesting problem. My advice; try to enjoy it as much as you can.

So, you’re geared up for some gruelling but rewarding interview processes, but are you prepared? We’ve written a collection of articles to provide advice and guidance at each stage of the process, and you can find all links to these below.

For the next stage, check out Step 1 – getting in the zone for what to do next….

Technical Interviews – Interview Preparation

Technical Interviews – Take Home Assessments

Technical Interviews – Live Coding Interviews

Technical Interviews – Onsite Interviews

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