Make an impression

We are looking for the next generation of entrepreneurs and leaders to shape our future

About Nomura

Careers in global investment banking

Make an impression

At Nomura you will discover a unique spirit and proud heritage. Since 1925, Nomura has built on a commitment to deliver unique value to clients by connecting markets East & West. We continue to service our clients in a differentiated way, providing creative and entrepreneurial solutions.

If you are keen to be a part of a highly nimble and diverse workforce that offers opportunities for you to build a long term career, then come and discover more about Nomura. This could be a perfect fit for you.

Since our founding we have accumulated an unparalled depth and breadth of experience throughout Asia and the rest of the world. We are a highly integrated global network of 27,000 people in 30 countries across our retail, asset management and wholesale (Global Markets and Investment Banking) divisions.

Help us realize our strategy and ambition by joining us in one of our three wholesale businesses:

  • Global Markets
  • Investment Banking
  • Corporate Infrastructure (ie, Operations, Technology and Finance)

Nomura in Europe, the Middle East and Africa (EMEA)

Our EMEA headquarters are at 1 Angel Lane in London with further offices in 18 countries across EMEA. We celebrated 50 years in London in 2014, a commitment to our people, clients and the region. Nomura employees come from all over the world and in London alone, over 70 different nationalities are represented.

Koji NagaiGroup CEO
Diversity & corporate citizenship
Nomura History

Message from the Group CEO

Supporting Japan's Future

Our home market of Japan is on the verge of significant change. Since the new government came to power in 2012, we have seen early signs of an economic recovery. To build on this momentum, we need to look hard at what the country requires and how we can contribute.

Given that Japan is the world's largest creditor nation and has the world's fastest aging population, one area that requires attention is the creation of a new social framework. At the same time, we need to revise the structure of our financial system. For Japan to grow sustainably into the future, the capital markets will have to play a more prominent role. Indeed, Japan's approximately ¥1,500 trillion in personal financial assets holds the key to the country's future growth. Nomura aims to support this growth by facilitating the flow of funds throughout the economy.

Connecting Markets East & West

Asia is expected to account for half of the world's GDP by 2050 and will no doubt remain the growth engine of the global economy over the coming years. However, for the region to realize its full potential, Asian countries must finance the large-scale infrastructure projects required to underpin economic growth. Japan can play a leading role here, growing together with the rest of Asia by putting its financial assets to work across the region. With Asia as our home market, this is an area in which Nomura has a distinct competitive advantage.

As economies around the world mature and become increasingly global, companies and investors in the West are looking East for growth opportunities. As the only Japanese financial institution with a truly global network, Nomura is well placed to connect markets in the East and the West by leveraging our franchise to provide liquidity in the world's capital markets. By meeting the needs of our global client base and expanding our business, we can contribute to economic growth and social development.

In doing so, we aim to win the trust of our clients and society as we work towards being Asia's global investment bank.

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Nomura History

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Diversity & corporate citizenship

Corporate citizenship

Investing in the communities where we operate is an integral part of our business model and our culture. Every day we think creatively for our clients and our capacity for innovation also gives us the ability to drive societal change – that is at the heart of our award-winning Community Affairs program.

In EMEA, Nomura focuses on helping disadvantaged, young people break through the limitations of their environment and raising their aspirations to reach new goals. Whether through volunteering, fundraising activities or direct financial contributions, employees are vital to our efforts.

For example, employees selected our current London Charity Partner (2013-15), St Giles Trust, which provides radical, effective and innovative solutions in helping many ex-offenders and disadvantaged young people get their lives back on track. Thanks to Nomura’s fundraising efforts, 121 young people have left London gangs in the last year.

With 40% of the population in London involved with the Community Affairs program, we are building a foundation that underpins a desire to make life better for future generations.

Diversity and inclusion

We believe that attracting, developing and retaining the most talented people with the broadest experiences positively affects the bottom line. By fostering an inclusive culture, we are working to create an organization where impressive people can build their careers. Our people should be valued for the work they do and be respected for their contributions.

One of the ways we encourage people to connect with others is through our employee networks, Women in Nomura (WIN), LGBT and Employee Life and Families (ELF). Through formal and informal events, participants are able to exchange ideas and receive support on both career and family related topics. By supporting the development of employee networks and communities of interest, we are breaking down silos and strengthening relationships across the globe.

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Our Business

Built to value ideas

Nomura provides investment banking services across Europe, the Middle East and Africa. We have a client-centric model and continue to make significant enhancements to our investment banking platform, global distribution, structuring expertise and product capabilities.

We continue to significantly increase our global footprint where we believe we have a competitive advantage and can best serve our clients, employees and shareholders. By putting our clients at the center of everything we do, we provide high value-added solutions and contribute to economic growth as Asia’s global investment bank.

An introduction to Global Markets with Gary Cottle

An introduction to Investment Banking with Charles Pitts-Tucker

An introduction to Corporate Infrastructure

Investment Banking

Our Investment Banking Division provides a variety of advisory and capital-raising solutions to corporations, financial institutions, governments and public-sector organizations around the world. Our global teams act as geographic, product and industry specialists.

Corporate Finance Advisory: Sector and country coverage professionals are critical in identifying and analyzing deal opportunities and managing client relationships. The ideas generated can have a tremendous impact on a sector.

Global Finance and Capital Raising: Global Finance is a combination of product experts, who are focused on providing tailor-made client solutions in debt or equity financing. The group works closely with Corporate Finance, M&A and Global Markets to originate structure and execute deals across the globe.

We deliver Asia to our clients – accessing deep pools of liquidity and dynamic growth markets, with cross-border collaborations in M&A, DCM, ECM, and solutions businesses.

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Global Markets

Nomura's Global Markets Division handles client transactions for financial institutions, corporates, governments and investment funds around the world. We act as market makers, trading in fixed income and equity securities, including currencies, interest rates and credit in cash, derivatives and structured products. We have taken market-leading positions across the globe by leveraging the strength of our talent, client relationships and technology.

By developing strong relationships with our client base through consistent interaction, independent advice and pre-eminent access to Asia, we have built a powerful global franchise across interest rates, currency and credit products. Our client services cover both high-volume flow products and carefully tailored structured solutions. We have adapted to the changing financial landscape to build a client centric focus differentiated by innovation, electronic and service excellence and market-leading derivatives capabilities.

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Corporate Infrastructure

Our Corporate Infrastructure Division is what underpins the success of the entire organization. It is internationally renowned and structured to deliver a world-class client service. We rely on it to build and support the business, helping us deliver innovative financial solutions that set Nomura apart in the global marketplace.

In our highly competitive and fast-paced industry, strong infrastructure teams are fundamental to our success. Work in these areas (Compliance, Finance, Operations or Technology) with us and you will operate at the forefront of your field, as well as gaining a valuable insight into how Nomura operates on a global scale.

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Our People

Talented people to drive our business forward

Nomura believes in harnessing the ambition of talented and intelligent people to drive our business forward. Our graduates' entrepreneurial spirits are helping us to realize our strategy to become Asia's global investment banking. Hear how Nomura impressed them, their experiences as interns and graduates and the evolution of their roles and responsibilities since joining.

For top tips on how to prepare for interviews please also visit the Interview Skills section.

Opportunities

The graduates are set to enjoy great success

Have we excited your interest yet? The graduates we take on today are set to enjoy great success. If you are ready to become one of them, then use our program navigator below to figure out where you may fit and which business area to focus on.

We have a variety of opportunities for individuals at different stages of their academic studies ranging from insight programs for sixth form students, pre-internship programs for first or second year university students, internship programs for penultimate year students, 6 – 12 month industrial placement programs and full time graduate opportunities.

Which program is right for you?

Program Type Business Area Start Date Duration
Full-time Analyst/Associate Investment banking July 4-6 weeks initial training in London
Full-time Analyst/Associate Global Markets July 4-6 weeks initial training in London
Full-time Analyst Corporate infrastructure - Finance September 2 weeks initial training plus ongoing training
Full-time Analyst Corporate infrastructure - Operations September 2 weeks initial training plus ongoing training
Full-time Analyst Corporate infrastructure - Technology September 2 weeks initial training plus ongoing training
Full-time Analyst Corporate infrastructure - Compliance September 2 weeks initial training plus ongoing training
Internship Corporate infrastructure - Compliance June 10 weeks or 12 months
Internship Corporate infrastructure - Technology June 10 weeks or 12 months
Internship Corporate infrastructure - Finance June 10 weeks or 12 months
Internship Corporate infrastructure - Operations June 10 weeks or 12 months
Off-cycle internship Investment Banking Year round 3 months - 6 months
6-month rotational Analyst Investment Banking January or July 6 months (3 month placements, London and continental Europe)
Summer Associate Investment Banking June 1 week initial training - 10 weeks
Women's Immersion Investment Banking - Global Markets - Corporate Infrastructure April 2 weeks
Explore Investment Banking - Global Markets - Corporate Infrastructure April 3 days
First Step Investment Banking - Global Markets - Corporate Infrastructure April 3 days

Full-time Analyst/Associate

Investment banking

France; Germany; Italy; Netherlands; Spain; Switzerland; United Arab Emirates; UK

Through an intensive training course and continuous on-the-job experience, this program is designed to give new graduates a head start in a career at the forefront of the industry. You can expect to gain an in-depth knowledge in practical areas such as modeling, valuation and deal structuring, as well as essential skills like client relationship management.

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Full-time Analyst/Associate

Global Markets

France; Germany; Italy; Netherlands; Spain; Switzerland; United Arab Emirates; UK

With a focus on the practical application of valuation, pricing and structuring, this program will give new graduates a first-hand knowledge of the industry. Through formal and on-the-job training, you will quickly gain the technical and business skills you need for an influential career.

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Full-time Analyst

Corporate infrastructure - Finance

UK

Finance plays a pivotal role in our business and you will help our division provide expert and timely advice throughout all banking divisions. You will take on responsibility from day one, building strong working relationships and facing challenges as a full member of the team. You will have an initial training program designed to provide you with the skills and knowledge as well as ongoing training sessions throughout your career.

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Full-time Analyst

Corporate infrastructure - Operations

UK

Following your initial training, you will be based in one of our Operations teams, which take responsibility for the processing, control and settlement of Nomura's transactions. This program gives new graduates the opportunity to work across departments, developing innovative ideas to handle our clients' investment, liquidity and risk management needs.

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Full-time Analyst

Corporate infrastructure - Technology

UK

Technology at Nomura involves working with, and designing, state-of-the-art information technology and risk management systems. These are the systems that can often give us that crucial, split-second edge over our competitors. You will have an initial training program designed to provide you with the skills and knowledge as well as ongoing training sessions throughout your career.

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Full-time Analyst

Corporate infrastructure - Compliance

UK

Following your initial training, you will be based in one of our Compliance teams, which take responsibility Regulatory Affairs, Financial Crime, and the Control Room. This program gives new graduates the opportunity to work across departments, developing innovative ideas to handle our clients' investment, liquidity and risk management needs.

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Internship

Corporate infrastructure - Compliance

This program is designed to be a springboard for students in their penultimate year of university. It is a unique chance to gain first-hand experience of the challenges and opportunities you can expect from a career within the Regulatory Affairs, Financial Crime and Control Room divisions within Compliance.

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Internship

Corporate infrastructure - Technology

An internship in Technology at Nomura involves working with, and designing, state-of-the-art information technology and risk management systems. These are the systems that can often give us that crucial, split-second edge over our competitors.

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Internship

Corporate infrastructure - Finance

Finance plays a pivotal role in our business and you will help our division provide expert and timely advice throughout all banking divisions. You will take on responsibility from day one, building strong working relationships and facing challenges as a full member of the team.

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Internship

Corporate infrastructure - Operations

As an intern in Operations, you will gain firsthand experience and contribute as a full and valued member of the team, assuming responsibilities similar to those of a first-year Analyst. As part of the Operations team, you will be responsible for the management and execution of transactions in a way that maximizes profitability and minimizes risks.

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Off-cycle Internship

Investment Banking

This is an opportunity to work with an international Nomura’s team. Candidates applying to this vacancy must be fluent in or a native speaker in the country of application. This program is designed to be a springboard into investment banking for students in their penultimate year of university. As well as ongoing mentoring and training, you will gain first-hand experience of the challenges and opportunities you can expect from a career in the industry.

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6-month rotational Analyst

Investment Banking

France; Germany; UK

This program is designed to be a springboard into investment banking for students in their penultimate year of university. This is a unique chance to complete a 6 month rotational internship which incorporates 3 months in London and 3 months within continental Europe. To apply to this program you must be fluent in English and an additional European language. As well as ongoing mentoring and training, you will gain first-hand experience of the challenges and opportunities you can expect from a career in the industry.

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Summer Associate

Investment Banking

UK

The ideal springboard to a career in investment banking, this program is designed to give MBAs, a taste of the opportunities that Nomura could bring. Working as a full member of the team, you will benefit from ongoing training and mentoring, and face the challenges of a full-time employee.

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Women's Immersion

Investment Banking - Global Markets - Corporate Infrastructure

UK

This program is for talented female students in their first year (of a 3 year degree) or second year (of a 4 year degree) of study. Through hands-on work experience and mentoring, you will gain a unique insight into the opportunities a career in investment banking could offer.

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Explore

Investment Banking - Global Markets - Corporate Infrastructure

UK

Created for first year (of a 3 year degree) or second year (of a 4 year degree) students, this program gives you unique access to our business and gives you a taste of what a career in banking could bring you. By exposing you to all three of our divisions - investment banking, global markets and corporate infrastructure - you will experience some of the most important business functions to an investment bank.

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First Step

Investment Banking - Global Markets - Corporate Infrastructure

UK

The Nomura sixth form program is aimed at talented, ambitious individuals in year 12 or 13 of school or Sixth Form College. The program will provide a unique opportunity to begin investigating a career in investment banking prior to starting university, and is ideal for aspiring bankers or those who simply wish to find out more! It’s never too early to start developing key skills and thinking about the future.

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Programs

We’re looking to recruit individuals who are motivated

Our Human Resources department provides comprehensive human resource manager services for the company. Its main functions include recruitment, payroll, learning and development, employee training and development programs as well as a range of advisory services.

We currently offer HR apprentices in the following areas:

HR Advisor - The HR Advisory teams cover Nomura’s three core divisions: Global Markets, Investment Banking and Corporate Infrastructure. This role involves working in conjunction with HR Advisors to deliver solutions, advising managers on handling performance, absence, and other concerns, and supporting the Year-End Compensation process, amongst other projects.

HR Analyst Centre - The HR Analyst Team is responsible for managing the workflow of employee lifecycle activities between the strategic HR Advisor teams and the HR administrator team. The role requires interaction with HR colleagues and clients across the whole company and at all levels. The HR Analyst Team also supports the Graduate Recruitment and Program Teams with the regular in-take of Graduates and Interns.

Learning and Development – This role sits within the EMEA Talent Team, directly supporting the Leadership & Development team. This role plays a critical part in ensuring that all Leadership & Development activities are executed to the highest standard. Key capabilities in this role are interpersonal skills, a drive for efficiency and effectiveness in execution, and a continuous improvement mind-set.

Graduate Recruitment – The Graduate Recruitment Team is responsible for attracting, recruiting and retaining the strongest candidates through strategic initiatives across European universities and business schools. This role would be involved at each stage of the recruitment process, from marketing and logistics for careers fairs, assisting with interview days and assessment centres, and supporting our summer internships and spring insight programs.

For more details, please contact us

The primary role of Multimedia is to provide in-house Audio Visual & Multimedia support with event management. This function is vital in enabling Nomura to communicate globally over video conference both internally and with clients. It also provides powerful internal communications support and the facilities are used extensively by Nomura’s clients to support their roadshows and results presentations.

The role will provide the candidate with a solid background in creating, operating and servicing Audio Visual technologies for the corporate environment in line with the InfoComm AV Certified Technologies Specialist (CTS) accreditation. The role will also expose the candidate to industry standard Video Conferencing solutions, with an overview of Broadcast Hardware and Film Editing Software.

For more details, please contact us

Our Corporate Infrastructure Division is what underpins the success of the entire organization. These are the functions that support the business, helping us deliver innovative financial solutions that set Nomura apart in the global marketplace. In our highly competitive and fast-paced industry, strong infrastructure teams are fundamental to our success. Our Operations teams work closely with Sales, Trading and Technology teams and develop innovative and efficient approaches to our clients' investment, liquidity and risk management needs. You will also work with our trainer provider towards your Level 3 Investment Operations qualification.

As an Operations Apprentice you will be involved in:

  • Processing, controlling, confirming and settling transactions
  • Researching and troubleshooting problems such as resolving booking issues and cash breaks
  • Documenting process flows and creating procedure manuals for the functions performed
  • Reviewing current processes and procedures for improvements, reduce risks and increase controls
  • Assisting with client service initiatives
  • Building successful relationships with colleagues in Mumbai

For more details, please contact us

The main activities of the Real Estate & Services department include property acquisition, disposal and space utilisation, general operations, administration, maintenance and repair, corporate travel and services, and health and safety.

Our current role is based within the Health, Safety & Environmental team, providing support and assistance in delivering environmental services across the Nomura EMEA region. As an apprentice in this team you will be involved in:

  • Assisting with maintaining the company environmental management system
  • Supporting with the coordination of best practice meetings and workshops
  • Monitoring environmental legislative changes and providing briefings and actions
  • Liaising with environmental staff at other company locations (eg Tokyo)
  • Assisting with the daily operations of the Real Estate & Services team

For more details, please contact us

Our Technology roles will see you working with one of our industry leading technology teams. In your first year you’ll spend time gaining a relevant NVQ qualification in partnership with our training provider. If successful you’ll then go on to study for further qualifications in your second year whilst having the opportunity to progress your IT career with us in a wide range of roles. Alongside this, you’ll have your own personal development plan to ensure you’re ready for the challenges ahead. Throughout the scheme you’ll get lots of support and encouragement from, your line manager, buddy, mentor and the team around you.

We offer roles within Development, Support and Infrastructure. Within the Development team, you’ll be working on cutting edge applications across a number of business lines. In Support you could be responsible for a number of systems that are critical to the running of the bank. If you prefer the Infrastructure side, you’ll be working on the infrastructure that supports all our major applications across the bank, from our web applications to staff email and messaging.

For more details, please contact us

What programs do we offer?

Nomura offers three pre-internship programs. Our programs are designed to help you explore the world of investment banking and experience the variety of career paths available. You will gain exposure across all our business functions allowing you to decide if a career in banking is right for you and identify where your skill set is best suited to within our business.

We will give you the opportunity to put your academic knowledge into practice through interactive case studies, workshops and desk shadowing. Nomura is passionate about developing talent from an early stage and our programs act as the main pipeline for our summer internship program and ultimately, our Graduate Training Programs.

Nomura offers the following pre internship programs:

  • Women’s Immersion
  • Explore Nomura
  • First Step Sixth Form

What program am I eligible to apply to?

Women’s Immersion & Explore Program: You must be on track to graduate in 2017, in either the first year of a three-year degree (or the second year of a four year degree)
First Step Sixth Form Program: You must be in either your first or second year of sixth form A Levels (Year 12 or 13)

Our pre-internship programs will give you the opportunity to:

  • Experience first-hand what a career in investment banking could present
  • Understand the variety of career paths available
  • Identify where your skills set and attributes would be best suited to
  • Build your knowledge across our business functions (Investment Banking, Global Markets and Corporate Infrastructure)
  • Develop your technical and soft skills through interactive workshops and bespoke training
  • The opportunity to be considered for our pipeline programs

For further information on each program, see the program overview:

Women's ImmersionTwo Weeks - Paid
Program Overview

- Two week paid internship in one of our three hiring divisions:

  • Investment Banking (IBD)
  • Global Markets (GM)
  • Corporate Infrastructure

- Case study exercises
- Graduate panel discussions
- Business overview presentations
- Technical and soft skills training
- Networking and social events
- Buddy support network

Training

Pre program:

  • Online learning modules in Financial Markets, Accounting and Excel

Program:

- Technical

  • On the desk and online training
  • Case study exercises

- Soft Skills

  • Interview skills and CV workshops
  • Presentation skills training
  • Emotional intelligence
Assessment

- Individual project presentation
- Opportunity to be fast tracked for 2016 summer internship program interviews

Explore NomuraThree Days - Unpaid
Program Overview

- Three day internship to gain an insight across our Investment Banking, Global Markets and Corporate Infrastructure divisions

- Desk shadowing in one of our three hiring divisions

  • Investment Banking (IBD)
  • Global Markets (GM)
  • Corporate Infrastructure

- Case study exercises, graduate panels and business overview presentations
- Networking events
- Group projects
- Buddy support network

Training

Program:

- Technical

  • On the desk and online training
  • Case study exercises

- Soft Skills

  • Interview skills and CV workshops
  • Presentation skills training
Assessment

- Group presentations
- Opportunity to be fast tracked for 2016 summer internship program interviews

First Step Sixth FormThree Days - Unpaid
Program Overview

- Increase your exposure of a corporate environment and learn the basics about our Investment Banking, Global Markets and Corporate Infrastructure divisions
- Gain real life experience in a fast paced, high energy environment
- Business presentations
- Interactive skills sessions
- Networking events
- Group project work
- Career advice and guidance

Training

- Case Study Exercises
- Networking and teamwork training
- Interview skills and CV workshops
- Presentation skills training

Assessment

- Group project presentations
- Opportunity to be considered for 2016 Women’s Immersion and/or Explore Nomura Program

What is the Application and Recruitment Process?

Applications will open on 1st September. We recruit on a rolling basis and therefore advise you to apply as soon as possible, and in advance of the advertised deadlines.

Program Eligibility Criteria Recruitment Process Program Timing
Women's Immersion You must be on track to graduate in 2017 in either the:
  • First year of a 3 year degree or
  • Second year of a 4 year degree
One stage: two competency based interviews with a business representative and Graduate Recruitment 7 - 17 April 2015
Explore Nomura One stage: one competency based interview with Graduate Recruitment 7 - 9 April 2015
First Step Sixth Form You must be in either your first or second year of sixth form A Levels (Year 12 or Year 13) One stage: candidates should submit their CV and a cover letter explaining their motivations for joining the First Step Program 30 March - 1 April 2015

Testimonials

See what previous interns have said about their experience on each of our programs:

Women’s Immersion
I was very impressed with the internship program at Nomura. It was great to get experience working on the desk combined with the talks and presentations, especially since other banks do not offer the opportunity to work on desks during their spring programs.
The program was excellent. The mix of on-the-desk experience, presentations about the bank and the industry was perfect!
The chance to work on a desk is, in my opinion, what makes the internship such an experience.
Most spring internships last only one week. The fact that Nomura's is longer gives you the chance to learn much more.
Explore Nomura
Watching the real time transactions as well as client relations was a new and exciting experience. This is something which you cannot experience outside of a bank. I feel the shadowing was one of the best aspects of the program.
I found the program very enjoyable and helpful in deciding which area of banking I would like to pursue.
I hope this program continues as it means so much to a first year student like myself!
I felt that the program was very informative and added a different perspective to making applications, being commercially aware and what it takes to be successful in this industry.
Sixth-Form First Step
I especially liked the emotional intelligence session and found the feedback really interesting.
The mock interview was my favourite part. It was so useful and I was very grateful for the feedback afterwards.
Stock Pitch Idol was extremely helpful because it taught us the skills of standing up in front of an audience and delivering information with confidence and clarity.

The Global Markets internship program in London is open twice a year in spring and summer for Analyst interns. We also recruit summer Associates for our 10 week internship program in June.

You can expect to have structured training in key professional skills, the opportunity to attend networking events and seminars, that will give you an in-depth knowledge of our business. The internship program is designed to give you an idea of what a career in the industry would be like.

What’s involved?

As an intern, you will build relationships and take on challenges as a full member of the team, allowing you to develop a unique experience that will be vital in your future career. You will, gain valuable on-the-job training and see what makes us the most exciting proposition in the investment banking world. Roles could include:

  • Sales - Develop and maintain strong relationships with the firm's clients which include banks, pension funds, hedge funds, insurance companies and corporate clients. Sales colleagues are responsible for delivering the capabilities of the firm in the form of services and products that best suit the clients’ needs.
  • Trading - Control and manage the firm's exposure to the markets by buying and selling securities and providing liquidity (market-making). Traders work together with sales, structuring and research in the development of trading strategies for our clients.
  • Research - Provide internal and external views and published research on sectors, companies and markets. Deliver insights, investment ideas and strategies for asset managers and internal clients that assume market risk.
  • Structuring - Design and develop innovative products and strategies that are tailored to specific client needs. Structurers work together with sales, trading and research to analyze the risk exposure of the firm’s clients, and deliver tailor-made solutions that address their needs.

The process

Your internship program will consist of one or two placements, which is dependent on the internship program you choose. You will join a team in our Global Markets Division. The teams you are placed in will depend on our organizational needs at the time but we will also take into account your preferences and skills you demonstrate at interview.

Feedback

You will receive constant feedback throughout your internship. At the start of the program you will be assigned a mentor and a buddy. Both will review your performance and offer you any help and advice you might need.

You can find out more from our graduates and their experiences here.

The Investment Banking internship program in London is open twice a year in January & June for a 6 month London & Paris rotational program and in June for 10 week summer interns. We also recruit summer Associates for our 10 week internship program in June.

Our continental offices in Europe offer 3 to 6 month Analyst internships year round in Amsterdam, Dubai, Frankfurt, Paris, Milan, Madrid.

Internships are designed as a spring-board to a career in investment banking. We will give you exposure to the challenges and opportunities a full-time Analyst or Associate will have in their first year with us.

What’s involved?

In addition to on-the-job experience, you will benefit from a series of training modules that will help you develop key professional skills. There will be a range of networking events with senior Nomura bankers and seminars to give you an in-depth knowledge of the division. This internship program is the ideal opportunity for you to learn more about investment banking. The types of activities could include:

  • Deal execution - You will work closely with clients and execution teams (lawyers, accountants, consultants and bankers) on mandated transactions, including mergers and acquisitions, divestitures, capital raisings and restructurings.
  • Client relationship management - We want to see you generating and presenting ideas at client meetings alongside senior bankers.
  • Strategic analysis - We will train you to produce financial, structural and business risk analysis to support transactions and client presentations.

The process

You will be placed in one team during your internship (or if you are part of the 6 month rotational program you will complete two 3 month rotations. Whichever team you are assigned to, you will benefit from a range of invaluable experiences that will give you a clear head-start on a career at Nomura.

Feedback

There will be constant feedback throughout your placement. At the start of your program, you will be assigned a mentor and a buddy who will review your performance and offer you any help and advice you might need.

You can find out more from our graduates and their experiences here.

Our Compliance Programs aim to provide you with exposure to our Regulatory Affairs, Financial Crime and Control Room. Our programs include a 10 week summer internship for penultimate year students or 12 month industrial placements.

What’s involved?

Depending on the team you join, responsibilities could include:

Regulatory Affairs, Risk Assessment and Employee Compliance - Spending time in this team will give you the opportunity to gain exposure and experience on a wide range of regulatory issues and priorities, which impact the firm – not just in Compliance but across Finance, Risk Management and other areas of the business.

Financial Crime - Review daily trading activity to ensure correct accounting and P&L recognition treatment, performing independent price testing of trading portfolios using market data and internal models, conduct P&L discussions with trading desks at the end of each day, provide explanations of trading P&L and reporting to Product Control, and management of the consolidated weekly, monthly and quarterly commentaries.

Control Room – The EMEA Control Room team has responsibility for handling research clearance, maintaining the Firm’s Watch and Restricted Lists, conducting transactional conflicts checks, tracking Chinese wall crossings, significant position disclosures and other associated Control Room tasks including Personal Account Dealing clearance, Surveillance and Investigations.

During your internship, you can expect to gain an understanding of the different products (equities, bonds, futures, options, swaps, exotic derivatives, quant and the like). You will also build your knowledge of risk management methods and techniques (variance-covariance, historical simulation, stress testing, maximum potential exposure) and live trade analysis.

Our Finance summer Analyst program is a 10 week program for students in their penultimate year. As a summer Analyst, you will be trained, placed in a business and encouraged to develop your skills. We will give you the opportunity to see how our Finance division functions and the role it plays in our business as a whole.

You will take on responsibility from day one, building strong working relationships and facing challenges as a full member of the team. As you progress in your internship, you will have the opportunity to take on extra responsibility, which will help you gain knowledge and experience, which will be vital to your career.

What's involved?

Finance plays a pivotal role in our business and you will help our division provide expert and timely advice throughout all banking divisions. Depending on the team you join responsibilities could include:

Treasury - Understand key drivers for liquidity for Nomura entities, analyse the liquidity position of Nomura entities, manage the liquidity systems and data feeds that support stress testing for certain business / product lines, and provide commentary to Treasury management on changes in the liquidity profile of individual entities.

Product Control - Review daily trading activity to ensure correct accounting and P&L recognition treatment, perform independent price testing of trading portfolios using market data and internal models, conduct P&L discussions with trading desks at the end of each day, provide explanation of trading P&L and reporting to Product Control, and management of the consolidated weekly, monthly and quarterly commentaries.

Financial Resource Management - Understand the balance sheet and capital position of Nomura entities, analyse key issues around P&L, balance sheet and capital management, manage databases and modelling projections of financial resources into the future, and provide inputs into internal and external communication around key challenges and solutions for resource related issues.

Tax – Assist with the preparation of UK corporate tax returns to meet all UK group compliance obligations, assist with the EMEA quarterly tax provisioning / reporting process, become familiar with key concepts within Corporate and VAT tax law, and advise on operational tax matters including withholding tax obligations and various stamp duties. As well as a wide exposure to Nomura and on-the-job experience, you will receive structured training, a buddy and a mentor who will provide you with advice and guidance, as well as answer any questions you have regarding your career development.

You can find out more from our graduates and their experiences here.

As part of the Operations team, you will be responsible for the management and execution of transactions in a way that maximizes profitability and minimizes risks. The division's main responsibility is to process, control and settle all Nomura's transactions and as a result you will work closely with Sales, Trading and IT teams and develop innovative and efficient approaches to our clients’ investment, liquidity and risk management needs.

Our Operations programs include a 10 week summer internship for penultimate year students, and 6 or 12 month industrial placements. As part of all programs, you will be trained, placed in a business and encouraged to develop your skills. You will contribute as a full and valued member of the team, assuming responsibilities similar to those of a first-year Analyst.

What's involved?

From day one, you will work as a full member of the team on projects that have a real effect on our business. You will focus on maintaining exceptional corporate support to our global business and take on extra responsibilities as you progress through the program.

We will also supplement on-the-job experience with a comprehensive training curriculum designed to provide you with professional skills, industry knowledge and development opportunities. This training includes management-led overviews and presentations by internal and external experts on relevant financial products and market topics. We see the Summer Analyst Program as the primary source for hiring full-time Analysts - which makes this a smart move for those looking for a career in Operations.

You can find out more from our graduates and their experiences here.

Technology at Nomura involves working with, and designing, state-of-the-art information technology and risk management systems. These are the systems that can often give us that crucial, split-second edge over our competitors. Work ranges from infrastructure support and deployment to in-house development of complex modelling software and applications.

Our Technology programs include a 10 week summer internship for penultimate year students or 12 month industrial placements. As part of both programs, you will be trained, placed in a business and encouraged to develop your skills. You will contribute as a full and valued member of the team, assuming responsibilities similar to those of a first-year Analyst.

What’s involved?

These programs will give you the opportunity to develop new applications that keep us at the forefront of technology. You’ll develop an impressive level of technical knowledge, using a range of packages (VB, SQL, Perl, C++, Java, XML, XSLT, JSP). As well as this, you’ll gain an understanding of different financial products, and build a valuable knowledge of risk management techniques and live trade analysis.

During your internship, you can expect to gain an understanding of the different products (equities, bonds, futures, options, swaps, exotic derivatives, quant and the like). You will also build your knowledge of risk management methods and techniques (variance-covariance, historical simulation, stress testing, maximum potential exposure) and live trade analysis. From day one, you will work as a full member of the team on projects that have a real effect on our business. You will focus on maintaining exceptional corporate support to our global business and take on extra responsibilities as you progress through the program.

We will also supplement on-the-job experience with a comprehensive training curriculum designed to provide you with professional skills, industry knowledge and development opportunities. This training includes management-led overviews and presentations by internal and external experts on relevant financial products and market topics.

You can find out more from our graduates and their experiences here.

Getting a full time role at Nomura is a great achievement and a unique platform to launch your career. As a organization, we are committed to creating long-term opportunities for top talent in this industry and as such invest significantly in your assimilation into Nomura, performance management and career mapping. An intensive training course and continuous on-the-job training and support are designed to accelerate your learning curve and the amount of responsibility you can assume at Nomura.

Once you have chosen the program and region you would like to apply to from our program navigator , please complete our online application to launch the process. We recognize that many people are flexible in their thinking about geographic location, so please note that you can apply to more than one region. You will be contacted shortly about the next steps in the process.

Analyst: Apply to this program if you are a recent Bachelors or Masters student
Associate: Apply to this program if you have, or are currently studying for an MBA and have 2 to 3 years relevant work experience

Quantitative opportunities
For candidates seeking quantitative roles, we look for bachelor's, master's, or Ph.D. degrees in finance, economics or econometrics, accounting, mathematics, statistics, physics, engineering (predominantly electrical and mechanical engineering, or operations research), and computer science. We also consider talented candidates from other disciplines who possess strong quantitative abilities.

Working in a quantitative role at Nomura combines the challenge of cutting-edge research with the excitement of seeing your results put to use. At Nomura, you will find many similarities with the academic world, including a culture of creativity, a respect for intellectual achievement and a cosmopolitan atmosphere.

We look for a specific skill that can be used more or less immediately within a particular facet of our quantitative business. Common examples are proficiency in statistical estimation and data analysis, understanding of derivatives models, knowledge of stochastic processes, and ability to program. It is not necessary to have all of these, but it is important to have some.

Candidates should submit applications at the Analyst level and select Global Markets. The final entry level will be considered case by case, which will be dependent on your experience.

Our training program builds Nomura's pipeline of future leaders and functional experts through the successful integration and development of early tenured professionals. The global nature of our programs is a key differentiator and our graduates begin their career with us in London with participants from EMEA, US and Asia offices. We will also provide you with ongoing learning and development opportunities throughout your career.

Our training program covers various modules, which include:

  • An introduction to Nomura, its strategy, platform and businesses
  • Providing a comprehensive understanding of the Analyst and Associate role in their respective division
  • Equipping our Analysts and Associates with the finance/technical skills essential for their career
  • Promote networks for collaboration amongst global colleagues

The Global Markets training program is designed to provide our Analysts and Associates with the knowledge and the skills required to make an immediate contribution to their team. The global course is the first step in the graduates' assimilation into Nomura and the development of their career.

The curriculum combines a broad Global Markets overview, financial fundamentals and specific divisional and functional content. Participants are exposed to senior leadership through integrated business speakers, success panels and networking events. The program also emphasizes Nomura's commitment to giving back to the community through an organized philanthropic activity.

The delivery of the continuous development curriculum takes place via a broad means, including classroom sessions, senior speaker series, e-Learning, subject matter experts, mentoring programs and team-building events.

The training program is designed to provide a solid foundation in preparation for a smooth transition into investment banking at Nomura.

The program comprehensively covers: accounting, corporate finance/valuation, financial modelling, fixed income and equity product analytics and banking group overviews. Complementing the classroom learning, Analysts and Associates complete assignments, deliver presentations on financial news and attend social events arranged to facilitate teamwork and peer interaction.

Our continuing education series comprises of sessions delivered by bankers on a variety of topics such as DCM, ECM, M&A process, LBO modelling. In addition, all Analysts and Associates have the opportunity to attend soft skills training, which focus on presentation, communication skills, personal impact, negotiation skills and relationship management skills.

Nomura's Corporate Infrastructure training program comprises of online resources, classroom based technical and product training and a soft skills curriculum. Before our graduates join the firm, they are able to access our Global Learning site, an online learning library.

The two weeks of intensive training when graduates join offers a comprehensive introduction to banking in general, along with financial products and concepts. The training is delivered by external trainers and senior internal subject matter experts. During the initial training graduates will participate in classroom based seminars, trading simulations, business overviews and networking events.

Our continuous education series focuses on skills development, which includes presentation skills, presence and impact, assertiveness, project management, networking and MBTI effective communication and personality preferences, all delivered by an engaging and knowledgeable trainer.

Graduates joining the Corporate Infrastructure Finance program will also have the opportunity to study for the CIMA, ACA or ACCA qualifications, while those in Operations will be able to study for the IOC. Graduates on the Technology and Risk program benefit from a wide range of software, development and technical training.

Whatever division you join, you will benefit from ongoing performance feedback. At Nomura, our managers spend time focusing on your career development. They will dedicate considerable amounts of time to coach and mentor you, helping you to realize your full potential.

Nomura is proud of its people, and rewards employees for their contribution to the business. Benefits form an integral part of your reward package, alongside your salary and other elements of cash compensation. Our Nomura Select program delivers a variety of benefits designed to offer value and relevance to our employees lifestyles and life choices.

The benefits on offer include:

  • Bonus scheme
  • Pension plan
  • Private medical insurance
  • Life assurance
  • Income protection
  • Maternity and paternity leave
  • Flexible working policy
  • Dental insurance
  • Season ticket loans
  • Employee discount program
  • Gym membership at our onsite gym at Angel Lane or memberships at external gyms
  • Extra vacation days

News & Campus Events

The graduates are set to enjoy great success

We arrange a number of campus events during the recruitment season, which include company presentations, skills sessions, careers fairs and networking events across various universities in Europe.

Nomura campus events provide students with an opportunity to meet with business representatives and the graduate recruitment team. Our team can provide you with application and interview advice, and we are always keen to meet talented, ambitious students on campus.

To find out which events we have scheduled in your region, please click here.

Know Nomura Facts

  • No. 1 Institutional Investor All-Japan Research team ranking for the fifth consecutive year
  • No. 1 in Nikkei Veritas analyst ranking survey for Fixed Income Analyst / Economist survey for the fourth consecutive year
  • Nomura ranked #1 for FX Research in Institutional Investor’s All-America Fixed Income Research Survey
  • Nomura wins Best IPO: Suntory Beverage & Food $3.72bn IPO
  • Nomura wins two awards in The Banker Deals of the Year:
    • Best SSA Deal of the Year in Europe: Ireland’s 5bn Euro bond
    • Best Corporate Deal of the Year in Asia-Pacific: Softbank’s dual tranche JPY370bn domestic bond offering
  • Xstrata Glencore, $90bn joint financial advisor
  • Grifols acquisition of the Transfusion Diagnostics Unit of Novartis AG, $1.68bn
  • Laura Atherley, Global Head of Senior Relationship Management named one of the top 100 Most Influential Women by Financial News 2014

Apply Now

See what opportunities are available to you

Whether you are just entering the industry or an experienced professional looking for your next exciting opportunity, working at Nomura is a unique opportunity to make a difference in the industry in a way that is unprecedented. We have quite a number of roles for which we are currently accepting applications and we invite you to go through our list of global opportunities and send your CV to us.

Please click here to review current opportunities.

You will need to apply through our online application form. We will also ask you to upload a CV and cover letter. We accept applications from all degree disciplines - although you will need a minimum 2.1 degree (or equivalent). While your degree subject doesn't matter, you must be numerate, have an interest in finance and a desire to work in the investment banking industry.

The application form is your chance to make a strong first impression. Before completing it, make sure that you:

  • Research the business area that you feel best corresponds to your skill set and interests, and your motivation for applying to this area.
  • Apply to the correct program (the Analyst program for Masters or Bachelor students, or the Associate program for MBA students with a minimum of 2-3 years work experience).
  • Tailor your cover letter to Nomura. Be original.
  • Check your grammar and spelling carefully before you submit your application.
  • Have good examples of our core competencies, such as leadership, academic achievement, national and school-specific awards and work experience.

Once you have submitted your application, you may need to complete online tests. Once these tests are completed, it will be screened by a team of experienced reviewers.

A member of the Recruiting team will contact you directly to inform you on whether or not you have been selected for interview. Interviews will take place from September onwards and regional internship interviews take place throughout the year.

During your first round interviews, you will meet with two or three Associates or Senior Analysts, for a 30 minute case study and competency-based interviews. You will have 1 hour (individually) to prepare your case study answers. First round interviews are designed to assess a wide range of attributes.

You should be prepared to answer questions relating to our competencies:

  • Problem solving/Analytics
  • Team skills/Professionalism
  • Leadership
  • Initiative
  • Communication

You will be informed by a member of the Recruiting team regarding the results of your 1st round interview. Regardless of the outcome, you will be offered feedback on your performance. For Corporate Infrastructure, you will have one competency-based interview with members of the business area you have applied to.

All final round interviews take place in our London office at 1 Angel Lane and are scheduled approximately 1 week after the first round interviews.

During your final round interviews, you will meet with 4 senior interviewers for 30 minutes each. These interviews will contain some competency based questions and you should be prepared to explain your interests and motivation for Global Markets or Investment Banking in more depth.

For Corporate Infrastructure you will participate in an assessment centre involving a group exercise and two interviews.

We will inform you of your status after your final round interviews providing you with feedback on your performance. If you receive a job offer, a contract will be sent to you by courier.

The deadlines for the programs are listed below and we will be accepting applications from 1 September. All applications must be submitted via our online application system. You will need to complete an application form and upload a CV and a cover letter explaining your motivations and areas of interest (Global Markets, Investment Banking or Corporate Infrastructure). Depending on your division, you will need to complete online tests within 7 days.

The dates below are final deadlines, but we do review applications on a rolling basis. We therefore advise that you apply as soon as possible.

IBD six-month rotational Analyst internship program (London & Paris) Sunday, 30 November 2014
Industrial placement program in Compliance Sunday, 11 January 2015
Industrial placement program in Technology Sunday, 11 January 2015
Industrial placement program in Operations Sunday, 11 January 2015
Full-time Analysts in Operations, Compliance, Technology and Finance Sunday, 11 January 2015
Full-time Analysts and Associates in IBD Sunday, 11 January 2015
Summer Analyst internship program in Global Markets Saturday, 31 January 2015
Summer Analyst internship program in IBD & Corporate Infrastructure Sunday, 11 January 2015
Spring Analyst 3 – 6 month internship program in Global Markets Sunday, 11 January 2015
First Step Sixth Form program Sunday, 18 January 2015
Women's Immersion program Sunday, 18 January 2015
Explore Nomura program Sunday, 18 January 2015
Summer Associate MBA internship program Sunday, 1 February 2015
Year-round Global Markets and IBD internships in our European offices (Amsterdam, Dubai, Frankfurt, Paris, Madrid and Milan)Fluency in the European language is a prerequisite Rolling deadline
Full-time Analysts in Global Markets (Sales, Trading, Structuring, Research) Saturday, 31 January 2015
Full-time Associates in Global Markets We are currently not recruiting for these programs. However, this is subject to change, therefore please continue to check our website.
How should I apply?

To apply to any of programs, you will need to complete a short application form and attach a copy of your CV and covering letter.

When should I apply?

Applications open from September 1. We recruit on a rolling basis so it’s advised that you apply as soon as possible. For specific deadlines, you can click here.

Can I apply to more than one division?

You can make up to three different applications per recruitment year. We would not recommend applications to different divisions; however should you wish to do so you should do as much research as possible beforehand. It's important to understand which business area would best match your skill set and interests. We will expect you to be able to discuss your choice, and show both enthusiasm for, and knowledge of the various roles. If you are unsuccessful in an application, you are unable to reapply to that vacancy during the same application year.

Will I be required to complete online testing?

Some candidates may be required to take an online test, depending on which program they are applying to. Once you have submitted your application form, you will be invited to take the test in order to complete the application process. It is recommended that you take the test within 7 days of submitting your application form. If you experience any technical problems with the online tests, click here.

Does Nomura offer internship programs?

Yes, we offer 10-12 week internships in Spring and Summer, as well as a 6 month rotational internship, which commences in January and July. We offer insight programs for pre-university and pre-internship students, which range from 3 days to 2 weeks over Easter. All programs can be found here.

What should I expect during the interview process?

If you apply for Investment Banking and Global Markets and you are selected for first-round interviews, you will have two (for internships) or three (for full-time positions) one-on-one interviews, which will also involve a case study. During the final round interviews, you will have four 30-minute, one-on-one interviews with senior business representatives (a banker who is vice president or above).

If you apply for Corporate Infrastructure, you will be invited to a first round interview for 45-minutes, if successful; you will be invited to an assessment centre, which comprises of a group exercise and two 45-minute competency interviews.
Find out more here.

What is Nomura looking for in candidates?
  • Professional presence (including communication skills, attitude, assertiveness, self confidence and a high level of maturity).
  • Commitment and drive (including bias to action, resourcefulness, work ethic, drive to excel and tenacity).
  • Problem solving and analytical skills (including analytical approach, logic, commercial intuition and quantitative ability).
  • Planning and execution (including attention to detail, results orientation, creative approach and time management skills).
  • Collaboration (including relationship-building, team orientation, diplomacy and respect).
  • Leadership (including persuasion skills, motivating others, integrity and empathy). Throughout the CV screening and interview process, you will be assessed on these core competencies.
I've been accepted for an interview. Do you have any tips?

We want you to do your very best at interview. So take a look at our section on interview tips. In this section, you can complete a mock interview, learn how to tackle a case study and read our guide on interview etiquette.

Will Nomura sponsor work authorization?

Yes, we will sponsor those students we offer, but the UK Home Office will ultimately make the final decision as to whether this will be granted.

First round interviews (for Investment Banking and Global Markets) will involve a case study. Case study interviews are designed to show us your problem-solving skills and analytical thinking. We will also be looking at how you present yourself and how good your communication skills are under pressure.

Why use case studies?

We use case study interviews because they provide us with insights into your thought processes. Problem solving is often independent of any particular subject expertise you may have and we want to see how you would tackle any of a very wide range of potential case study questions. We are interested in your expertise in general business, your ability to apply your formal education and work experience in an analytical and creative way, and your raw intelligence.

What kind of questions should I expect?

Often a case study is business-related, but it could touch on anything - the question is not designed to test any previously acquired knowledge or experience. You will be asked to prepare an exercise from information given to you when you arrive at the interview. You will have between 45 and 60 minutes to read the data and compile your notes. You will then be asked to make recommendations. Remember, there are no right answers. You should consider all lines of argument and then present one as your chosen opinion, mentioning why you discarded the other possibilities.

How to do well

  • Practice extensively beforehand. Research case study examples on the internet and use them to build your experience.
  • Ensure that you are able to present your pitch concisely and articulately. You will have a very limited time to get the main points across before the interviewer starts asking you questions on your rationale.
  • Listen carefully to the question. If you like, repeat it back to your interviewer to make sure you have understood fully.
  • Don't jump into your answer immediately. Take a moment to collect your thoughts, and get ready.
  • Remember that we are not looking for a 'correct' answer. It is the route you have taken to reach your answer that is important to us.
  • Ask questions. Asking the right questions will be key to proving that you have the analytical skills we expect. The interview is meant to be interactive.
  • Construct a logical framework with which to explore the critical issues of the case.
  • Prioritize the issues and objectives. Don't get bogged down trying to deal with every aspect.
  • Don't be afraid to think outside the box. Creativity is seen as a major asset at Nomura.

Further reading

http://www.wikijob.co.uk/wiki/case-study
http://www.casequestions.com

Asset and Liability Management (ALM): the practice of managing risks that arise due to mismatches between assets and liabilities of the financial institution.

Bond: an instrument of indebtedness of the bond issuer to the holders. It is a debt security, under which the issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay them interest (the coupon) and/or to repay the principal at a later date, termed the maturity date

CAGR: “Compound Annual Growth Rate” – the year-over-year percentage growth rate of an investment over a specified period of time

Capex: Acronym meaning Capital Expenditures, that are funds used by a company to acquire or upgrade physical assets such as property, industrial buildings or equipment. This type of outlay is made by companies to maintain or increase the scope of their operations

D&A: Acronym meaning Depreciation and Amortization, a category of expenditure by which a company gradually records the loss in value of a tangible (Depreciation) and Intangible (Amortization) asset

Deleveraging: Reduction of the leverage ratio, or the percentage of debt in the balance sheet of a single economic entity, such as a household or a firm.

Discount rate: The interest rate used in discounted cash flow analysis to determine the present value of future cash flows. The discount rate takes into account the time value of money (the idea that money available now is worth more than the same amount of money available in the future because it could be earning interest) and the risk or uncertainty of the anticipated future cash flows (which might be less than expected).

EBITDA: Acronym meaning Earnings Before Interest, Taxes, Depreciation and Amortization

EBIT: Acronym meaning Earnings Before Interest and Taxes

ETF: Exchange traded funds. An exchange traded fund is an investment fund traded on stock exchanges, just like stocks. An ETF holds assets such as stocks, commodities or bonds, and trades close to its net asset value over the course of the trading day.

EV: “Enterprise Value” – Equal to Equity Value plus Net Debt (or minus Net Cash)

FCF: “Free Cash Flow” – Measure of cash generation used in fundamental valuation of a business. Equal to EBIT x (1 - tax rate) + depreciation and amortisation - changes in working capital - capex

Forward interest rates: An interest rate that is specified now for a loan that will occur at a specified future date. As with current interest rates, forward interest rates include a term structure that shows the different forward rates offered to loans of different maturities.

Hedge: an investment made in order to reduce the risk of adverse price movements in a security, by taking an offsetting position in a related security, such as options or short sales.

LTM: Acronym meaning Last Twelve Months

IRR: Acronym meaning internal rate of return. The IRR corresponds to the rate of return on an investment. The IRR of a project is the discount rate that will give it a net present value of zero

Market Cap: Market capitalisation or market cap is a value of a corporation as determined by the market price of its common stock (shares). It is calculated by multiplying the number of outstanding shares by the current market price of the share

Market liquidity: an asset's ability to be sold without causing a significant movement in the price and with minimum loss of value.

Opex: Acronym meaning Operating Expenditures, a category of expenditure that a business incurs as a result of performing its normal business operations

Payout ratio: The amount of earnings paid out in dividends to shareholders

Shareholder loan: an instrument used to distribute cash to shareholders while minimising a company’s tax liability. Not typically included within net debt

Swap: highly liquid financial derivative instruments in which two parties agree to exchange interest rate cash flows, based on a specified notional amount from a fixed rate to a floating rate (or vice versa) or from one floating rate to another.

Swaption: An option granting its owner the right but not the obligation to enter into an underlying interest rate swap. A payer swaption gives the owner of the swaption the right to enter into a swap where they pay the fixed leg and receive the floating leg. A receiver swaption gives the owner of the swaption the right to enter into a swap in which they will receive the fixed leg, and pay the floating leg.

Ultimate forward rate (UFR): the theoretical forward interest rate to which forward rates converge.

Yield to maturity: Discount rate at which the sum of all future cash flows from the bond (coupons and principal) is equal to the price of the bond.

There is no need to be nervous at interview - we want you to do well and to show us your potential and what you can do. Preparation is essential and well prepared candidates are more confident, provide more thorough and focused answers and are therefore more likely to be successful.

Use our step by step guide to ensure you take the time to prepare wisely; the key is to ensure your preparation is carefully planned and focused.

Focus - Structure and Plan your Preparation

Preparing for, and being interviewed is similar to sitting an exam; you won’t have time to cover everything, instead you will need to identify the key points and focus on the relevant material.

Firstly, you should congratulate yourself in being selected for interview stage and have confidence in your ability. Then, ask yourself the following questions:

  1. What will the interviewers want to know?
    • An interview is not an opportunity to divulge everything you know- instead you need to focus on what is relevant to the company and the position you’re applying for
    • To identify what is most relevant, you will need to fully understand the role, it’s requirements and the key skills and competencies required
  2. How are you going to sell yourself?
    • What is your unique selling point? I.e. what sets you apart from the competition?
    • How do you want the interviewers to remember you after the interview – what key points do you want them to recall?
  3. How will you be assessed?
    • You can’t start your preparation until you know what you are preparing for
    • Read the interview format thoroughly to identify how you will be assessed (i.e. Interviews, case study exercises, and tests). If you’re unsure – ask.
  4. What are the core competencies required for the role?
    • Your interview performance and ultimately if you are successful or not, will be dependent on how you perform against core competencies
    • Identify what are the key competencies required for the role and for the company
    • What examples do you have to demonstrate each competency? Have you considered examples outside academia (i.e. sports, music, drama, volunteering, charity, mentoring, societies or other extracurricular activities)
    • What achievements are you most proud of and why – which competency do they demonstrate?

Interview Questions

Interviewers will use a variety of questions to assess your ability against each competency. Ensure you are familiar with each type of question and how to structure your answers accordingly.

Types of interview questions may include:

  • Competency based questions
    • These require you to provide a real life example to explain how you behaved in a certain situation. Past behaviour is used as an indicator to assess potential future performance
    • Delivering a structured answer is crucial - research the STAR method to guide you
    • Top Tip: Ensure your examples are varied and recent (the more recent the past behaviour; the greater the indication of future ability)
  • Technical questions
    • Practice! There are many online resources or books available with practice questions
    • Questions may include basic accounting, valuation, brain teasers and mental arithmetic
    • Top tip: Brain teasers – the key is not the answer; it is the how you derive at the answer. The interviewer is assessing your ability to formulate a logical and methodical response
  • CV, cover letter and application questions
    • Ensure you have thoroughly re-read each document and identify any obvious questions
    • Top tip: Practice articulating your experience in a concise and structured manner out loud (it doesn’t always sound the same as when you practice in your head).
  • Industry related questions
    • Interviewers will assess your interest, understanding and industry knowledge
    • Top tip: Form an opinion – digest the information you read and form your own judgment. Use facts and statistics to back up your conclusions

Research

There are a number of readily available resources to help you prepare. Make sure you fully utilise all resources available to you. These may include:

  • Online resources: Company website, press releases, annual reports, research publications, social media and online forums
  • School career services and recruitment events
  • Networks – academic Staff, alumni, peers, family and friends – even if they do not have a financial services background, they can help you practice questions

Your Questions

An interview is a two way process. It is an opportunity for you to assess if the company, role and culture is right for you. You will be given time to ask questions at the end of the interview, so you should ensure you use this time wisely.

  • Plan questions to ask in advance - ensure they are relevant, well-thought-out and to the point
  • Show you’ve done your research and use the opportunity to demonstrate your interest

Plan the Interview Day

Preparing as much as possible in advance of your interview day will remove many of the inevitable nerves associated with the process.

  • Before the interview:
    • Dress professionally. Plan you outfit the day before and ensure you wear corporate attire
    • Be Punctual. Plan your route and account for delays in public transport
    • Aim to arrive 15 minutes before your interview start time. Contact us if problems arise and ensure you have noted the name and contact details of who to contact should this happen
    • Take a notebook, a pen (that works) and a calculator. Take a copy of your CV and application form
    • Remember: Be polite to everyone you meet, your interview begins as soon as you walk through the door of the building ore recent the past behaviour; the greater the indication of future ability)
  • During the Interview:
    • Ensure your mobile phone is turned off
    • Greet your interviewer(s) with a firm handshake. Remember their name(s)
    • Maintain eye contact with your interviewer(s) and be aware of your body language – sit upright, don’t fidget and smile!
    • Listen carefully to questions you are asked. If you are unclear about anything, ask for clarification
    • Be honest. Back up your answers with real examples. If you exaggerate or lie it will show up in pre-employment checks
    • Relax - whether you are successful or not, the interview is a valuable learning experience. Make sure you get something out of it.
    • Close the interview – thank your interviewer for their time. If you’ve enjoyed the experience and you look forward to hearing about the next steps – tell us
  • After your Interview:
    • Be responsive. Following the interview, go back to your recruiter and continue to build a relationship
    • If you are offered a position it is unprofessional to renege (to accept and then later decline). This could be the first impression you create in the industry - you never know what the future holds
Q: Tell me about yourself

This is one of the most popular interview questions. It allows the interviewer to assess how you react in an unstructured situation and you answer provides an insight to what you think is most important.

Tip – focus on what will be of most interest to the interviewers. Ensure your answer is structured, brief and highlights your most important achievements.

Follow up questions may include:

  • Why did you choose your place of study?
  • What courses have you most / least enjoyed and why?
  • Talk me through your internship experiences
  • What are you interests and hobbies (outside academic)?
  • What are the most important things to you in a job?
Q: Why Banking?

We look for people who have a strong interest in investment banking. Interview Questions will determine how motivated you are and your rationale behind your decisions.

  • Why do you want to work in investment banking?
  • What do you think an Analyst does on a typical day?
  • Why are you interested in this division?
  • Where do you see yourself in five years? Ten years?
  • Explain the financial crisis
  • If I gave you a million dollars today, how would you invest your money?
  • Which business publications do you read and why?
Q: Why Nomura?

We want to employ graduates who are passionate about joining Nomura and representing our brand

  • Why do you want to work for Nomura?
  • What differentiates us from our competitors?
  • What is the share price of Nomura today?
  • What do you hope to get out of a job?
  • What other banks are you interviewing with?
Q: Skills

Your interviewer’s want to understand what sets you apart from the competition - sell yourself.

  • Why should we hire you?
  • What skills have you got that make you suited to the role?
  • What are your strengths/development areas?
  • What is your greatest achievement and why?
Competency Questions

Show us proof that you are the kind of graduate we are looking for. Give concrete examples from any aspect of your life that show where you have personally made a difference.

  • Tell me about a time when you were creative
  • Tell me about a time when you had to manage conflicting priorities
  • Tell me about when you have missed an important deadline
  • What has been your biggest failure, professional or personal - and what did you learn?
  • Describe an occasion when you have had difficulties working in a team
  • What is the biggest risk you have ever taken?
  • How would you deal with a difficult client that puts you under pressure?
  • If a client told you that they wanted to improve their portfolio performance in the next 12 months, what would you suggest as potential strategies
Tips from our Graduates
  • Understand how the bank operates, the different roles available and the characteristics and tasks that each role entails
  • Don’t regurgitate generic questions and answers; it is quite obvious to those who work in the industry when someone has spent time reading and understanding concepts and news
  • Be yourself! It is important that the interviewer can see your personality in order to stand out from the rest
  • Keep up to date with relevant news - understand the current drivers in the industry
  • Do the obvious – read the latest annual report and CEO’s letter. Gain an insight into the firms values and strategy
  • We look for people with strong analytical and interpersonal skills, plus a keen interest in markets and equities.
  • We want candidates with the energy and the maturity to step up to quite senior positions quickly – ensure you demonstrate your ability to do this
  • Use your Careers services – they have direct contact with the recruiters and can offer invaluable advice you cannot find online
  • Be proactive - speak to graduates at fairs and presentations to get the ‘inside information’
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