This article will help job seekers who are looking at Macquarie for their career future. Included are the facts about the hiring process along with preparation tips for candidates at all stages of the process.
What Is Macquarie?
Macquarie is a global financial services and banking company headquartered in Sydney, Australia with over 14,000 employees worldwide. It is valued at over $10 billion and is the largest investment bank in Australia. They have roles open for applicants looking for internships, entry level positions for new graduates, and senior roles for experienced professionals.
Macquarie Hiring Process
The Macquarie hiring process consists of an online application, various psychometric assessments, a phone interview, and face to face interviews. On average, the entire process takes one month.
The online application will ask some basic information about your background along with requesting your resume and cover letter. In your cover letter, focus mostly on your motivations and qualifications for the role. Make sure to clearly show that you have an understanding of what Macquarie is and what you would be doing in the role you are applying for.
After your resume is approved by Macquarie recruiters, you will be invited to complete some psychometric assessments depending on the role you are applying for. These aptitude tests are designed to measure both your mental capabilities along with your specific behavior style. They use the results from the assessments to see if you have both the skills and the personality to succeed in the role you are applying for. The online tests can be done at home or in one of the Macquarie offices. You will be given the opportunity to take practice assessments before taking the assessment that counts.
Numerical Reasoning The numerical test will examine your ability to interpret the data of a table or chart. You will be required to use basic addition and subtraction in this assessment within a 20-minute time limit. The questions in this test are multiple-choice with five choices for each question.
Verbal Reasoning This test will identify if you can comprehend a previously unseen passage and analyze the information in order to answer true/false and other multiple-choice questions about the passage correctly in a given time limit. The whole point of this assessment is to see if you can analyze information correctly in a given amount of time, so it is important to practice this skill before taking the test that counts.
Logical Reasoning The logical exam is also known as the abstract reasoning test. It will assess how you can interpret and find relationships in patterns. Mostly, the test is looking at how you organize information in order to solve problems. It is best to practice so you are prepared to take the test for your Macquarie application.
Personality Test This assessment will give you words and statements and ask you to rank them in the order of how important you feel each are. It is designed to assess your personality and see if you will fit in with the culture of the company.
How to Prepare for Macquarie Psychometric Tests?
The four aptitude tests mentioned above are usually sent in a package for you to take all at one time. For the cognitive tests, you will be given about an hour total to complete all three (about 20 minutes each), and they suggest about 30 minutes of practice time before this. It is essential that you practice each test, so you are not caught off guard when taking the assessment that counts. If you practice and are still not able to finish one of the tests in time, they invite you to let them know and they are willing to look at options of extension for you. Most of all, Macquarie recruiters suggest being relaxed and well-rested before taking the tests to give yourself the best chance of success.
After the psychometric tests, you will begin the interview process with Macquarie. At first, you will receive a call from a recruiter who will ask some clarifying questions about your background. This call should only take about 10 minutes. To prepare for the phone interview, it is suggested to have a professional voicemail message set up, to know your resume and cover letter, practice a phone interview, and do your research on the role and the company.
After the phone interview, you will be invited to come onsite for some face-to-face interviews. The number of interviews will depend on the role you are applying for, but most roles require two interviews – a competency-based interview and a skills-based interview, both 45 minutes each.
Macquarie Interview Tips
The main values Macquarie looks for in their employees are people who are entrepreneurial, ambitious, client committed, motivated, analytical, honest, creative, and determined. Focus on these values in your answers to the interview questions. Some example interview questions that candidates have been asked at Macquarie are:
Walk me through your previous experience and qualifications for this job.
What were your goals when you started your career, and how have they changed?
Tell me about a time you led a team.
What obstacles have you encountered when working with a team?
What are the latest developments in the news that have interested you?
Tell me about a time when you had a setback in your life?
You may also be asked some technical interview questions if you are applying for a more technical role at the company. Before the interview, it is also to your advantage to try to talk to some current employees to understand the company. Doing so will prepare you better to know what the assessors are looking for during the interview. A Macquarie recruiter listed their top tips for their interview process as:
Plan the day ahead by making sure you have a professional outfit and that you will arrive to the interview on time.
Research the role and company as well as you can before the interview. Your recruiter will be glad to help you with this research.
Know your resume and cover letter so you can explain your experiences and background confidently and concisely.
Make sure you are prepared to explain your motivations for applying to that specific role at specifically Macquarie.
Get to know the example questions above and prepare to answer the questions with the STAR format: explain the situation, explain the task, explain the action you took, and explain the results at the end of the situation.
Finally, be prepared to ask insightful questions about the role and company to show the extent of your motivation to work there.
After the final interviews, if all goes well, you will receive an offer from a Macquarie recruiter, which you will have 5 business days to respond to. When you are given the offer, ask plenty of questions so you know all the details and be transparent with the recruiter about expectations you may have. If this is the case, you will be required to complete reference checks along with pre-employment screening before you start your new job.
Overall, Macquarie is a competitive company that will require determination and preparation to succeed through the recruitment process. Make sure to show that you have the core values that Macquarie looks for along with showing your motivations for the role and the company. Along with this, be sure to prepare for the Macquarie assessment tests in order to succeed and get the job you need to further your career!