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      Equi
      3.5★Compensation and benefits

      Business Development Manager Interview

      23 Mar 2016
      Anonymous interview candidate
      London, England
      No offer
      Negative experience
      Average interview

      Application

      I applied online. The process took 2 weeks. I interviewed at Transact (London, England) in Feb 2016

      Interview

      Telephone interview followed by a face to face interview in London. Telephone interview was friendly and basic, no competency based questions etc. Face to face interview was a 20 minute presentation, followed by a formal interview with the head of dept. The three subject points were pretty basic and the timescale of 20 minutes suggested to me to keep this session high-level. I expected the purpose of this was to test the candidates knowledge of the market, presentation skills and ability to design and build some quality content. I felt the actual focus seemed to be too much on the "nth degree" of market detail outside of the brief and this is certainly not how you would approach such a session in the field with a prospective firm. Overall the company is very proud of their place in the market and set themselves out to be less asset-hungry than their competitors (I work for a firm that is specifically asset hungry and potentially this created a difference in culture in terms of my approach). They focus on tax and detailed market knowledge, which is a great asset, however I got the impression of them being a little elitist/overconfident of their position and a little blinkered in terms of the rapid rate of change in the market and the focus and success of their competitors, which was rudely discounted. I got the impression of a steer towards another candidate with a slightly different existing role and we were simply going through the motions. Basic pay is higher than market average, bonuses are low and circa 30% of salary. They seem like a great company to work for if you're the right fit and the existing employees are in the majority long-serving members of the team.

      Interview questions [1]

      Question 1

      Why individuals would use a wrap over a fund supermarket or traditional provider? Why an adviser would use Transact specifically? In you opinion, what have been the main outcomes of the RDR?
      Answer question