Bank of America Merrill Lynch is one of the biggest banks in the world. With private, corporate and investment banking branches, there are lots of places for you to make your mark.With over 6,000 offices worldwide and taking in more than 250 graduates per year, BofA Merrill Lynch is known to be a great place to work. The following article outlines what graduate applicants can expect from the recruitment process. Other applicants will meet with a similar process and will find the advice on this page useful.
Bank of America Merrill Lynch Recruitment Process
The first thing that you need to take care of is the online application form which is comprised of two separate stages. The first is setting up your application account where you are given a chance to enter all of your information and can upload your CV. Once you have done this,you then have to choose a particular position to apply for. This is a fairly basic online application form where you have a second chance to not only upload your CV but also some write a cover letter explaining why you are the most suitable for the position.
The five key competencies of BofA Merrill lynch are:
- Delivery: Always having the customer in mind.
- Empowerment: Recognising everyone’s unique strengths.
- Opportunity: Always willing to help other employees achieve their goals.
- Responsibility: Making responsible decisions with other people’s money as if it were your own.
- Trust: Working together as a team to help the customer receive the best service.
We see a common denominator here and that is that the customer always comes first. You have to show with your answers that you have put someone else before yourself in the past. Make sure to incorporate these core values into your application.
Aptitude TestsIf your application is successful, Bank of America Merrill Lynch will invite you to take either a numerical or logical reasoning aptitude test, depending on the position you are applying to. These tests are provided by IBM’s Kenexa. As these tests assess the exact skills Bank of America Merrill Lynch is looking for, a good performance on these tests is imperative.
Bank of America Numerical TestCandidates applying for most positions (other than technology positions) are asked to sit a numerical reasoning test. You have 20 questions to answer in a 20 minute time frame. You are presented with a number of different pieces of numerical data ranging from percentages to ratios. Having correctly analysed the information, you need to select the right answer from a choice of different possibilities. Working under such severe time constraints enhances the challenge of the test and can cause you to make mistakes.
Bank of America Logical Reasoning TestCandidates for technology roles will be asked to sit a logical reasoning test. This is a 12 minute test with 24 questions. During the test, you are given a series of shapes and must determine which is the missing pattern in the sequence. This test examines your ability to make correct assumptions and conclusion under time pressure. Using practice tests to get a feel for the real thing is a great way to get ready and you can use JobTestPrep’s logical reasoning preparation resources.
Bank of America Competency QuestionsAfter you have successfully completed the Merrill Lynch numerical test, you will be asked to complete a competency questionnaire. There is no time limit to these questions so you can make sure that your answers are truly suited to the position you are applying for. While answering these questions, it is important to remember that they want to know that you have demonstrated the core values of the company before in your life. Practice answering competency questions with our practice questions.
Bank of America Telephone InterviewIf you successfully pass the online aptitude tests, you are next invited to take part in a telephone interview. The questions are also competency based so they are similar to the questions asked in the competency questionnaire. As well as this, you are expected to know about the current situation of the markets and how they affect BofA Merrill Lynch. Some example questions are:
- Tell me about a time when you worked on a project with a team and describe the challenges that you faced?
- What is your biggest personal achievement?
- Did you ever have to deal with a disagreement?
- How did you deal with it?
- Tell me about a time when you influenced other people.
- Describe a time when you had to do a task without much time to prepare?
For a complete rundown on how best to deal with any interview situation find out about our Skype interview preparation kit.
If you are successful in the telephone interview, you will be invited to the Bank of America Assessment Centre.
Have any experience applying to Bank of America Merrill Lynch? Let us know in the comments section below!