Called the Wall Street Frontier, the app helps banking job applicants practice for interviews by swiping through curated list of questions
Wall Street Frontier (WSF), a new app that is aimed to help aspiring bankers to prepare for job interviews with study aids, prompts, and organisational tools, has been launched in Singapore today.
Currently available for Android devices for US$19.99, the mobile app allows users to practice for interviews by swiping through a curated list of more than 250 interview questions. Users can focus on challenging questions, take down notes, and gain insight from suggested answers and expert tips. They can also review and edit their pointers at a later date.
“Current investment banking interview prep guides are stuck in the past and are unsuited for the modern interviewees’ hectic lifestyle,” said WSF Founder Christopher Chien in a press statement.
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“With our modern purpose-built interview app, people no longer have to squint at PDFs costing hundreds of dollars. Interviewees can now prepare effectively and efficiently, at a fraction of the cost,” he added.
To build the content, WSF is working together with bankers from “top-tier financial institutions.”
A banking job is known for being difficult to get into with only one per cent of applicants being able to secure the role of junior investment banker where annual salaries start around US$100,000 (after bonus).
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Chien explained in an e-mail to e27 that banking remains an extremely popular job field as applicants are not limited by their academic background (as compared to doctors or lawyers) and the job offers a higher than average salary. Many applicants also see the job with the “if I don’t try, I’ll never know” attitude.
“I don’t have info on how many people are applying for banking positions in general, as the range of banking jobs are huge. [But] I can tell you that for my cohort, I went through 14 rounds of interview, with about 10 people left interviewing at the 14th round,” he wrote.
Chien also stressed that this interview process has been relatively consistent for tens of years; the industry has not need to iterate as there has always been an “ample supply of candidates” available.
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WSF is currently run by Chien and his app development team. Prior to starting the company, Chien worked at J.P. Morgan Asset Management, Private Bank (Singapore), and Loop Commerce (Silicon Valley).
The Singapore-based startup has not received any external funding and has chosen to remain agile until the need arises.
“WSF is at its core, testing a novel medium for content delivery. If it shows promise, we will move fast to corner the Asset Management & Private Equity markets,” Chien said on the company’s big agenda for 2017.
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Image Credit: Wall Street Frontier
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