Interviewing at Five Rings Capital? You’ve come to the right place. Landing a job at this prestigious prop trading firm is no easy feat. But with the right preparation and insider knowledge, your chances of acing the interview process greatly increase.
In this comprehensive guide, we’ll walk you through everything you need to know to stand out from the pack, from how to tackle brainteaser questions to the best ways to highlight your skills With tips direct from Five Rings insiders and alums, you’ll have the inside scoop on what interviewers really look for in candidates
So read on to get the competitive edge and master the Five Rings interview!
Overview of the Five Rings Interview Process
The interview process at Five Rings Capital is rigorous, with multiple rounds designed to thoroughly assess your skills. Here’s a high-level look at what to expect:
Screening Call 30-minute call with HR featuring estimation questions under tight time limits, Tests your analytical abilities
1-on-1 Interviews: 3-5 rounds of 45-60 minutes each. Mix of technical questions on math, probability, game theory, and mental math.
Skills Assessment: Excel modeling test and IQ exam. Gauges your financial modeling acumen and cognitive abilities.
Reference Checks: Professional and personal references contacted. Ensures you have solid relationships and background.
Background Check: Standard process verifies education, employment history and other credentials.
The process varies slightly by role, but these elements give you an idea of the rigorous gauntlet involved in securing a Five Rings offer. Thorough preparation is key.
Insider Tips to Ace the Five Rings Interview
With the stakes so high, how can you ensure an outstanding interview performance? Follow these insider tips from Five Rings interview experts:
Practice mental math under time pressure. Estimation questions come fast and furious. Drill math shortcuts and mental calculations until they become second nature.
Study probability, combinatorics and game theory. These topics form the core of many technical questions. Review key concepts until you have mastery.
Highlight trading instincts. Look for chances to discuss trades you made or markets you analyzed. Demonstrate commercial savvy.
Ask smart questions. Asking insightful questions shows genuine interest. Research the firm’s trading strategies and culture.
Watch your body language. Display energy and enthusiasm through engaged, thoughtful posture. This leaves a powerful impression.
Send prompt thank you notes. A handwritten note can separate you from the pack. Reiterate your interest and qualifications.
With meticulous preparation and these insider tips, you’ll showcase your skills effectively and stand out among the fierce competition.
Sample Five Rings Interview Questions
Let’s look at some common Five Rings interview questions so you can start crafting winning responses:
Brainteasers
These rapid-fire brainteasers test your analytical thinking under pressure:
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You have 10 balls, one of which is defective and weighs less. You have a scale. In 3 weighings, how do you identify the defective ball?
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How many three digit numbers have at least 2 different digits?
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Estimate the number of manhole covers in Manhattan.
Tips: Practice mental math shortcuts. Provide a reasonable range as your answer. Explain your logic and assumptions.
Technical Questions
Expect complex questions probing your knowledge of key concepts:
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There are 4 blue, 6 red and 3 green balls in a bag. If you pick 3 balls at random, what is the probability that you get 1 of each color?
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If you invested $10,000 at a continuously compounded annual interest rate of 5% for 10 years, how much would you have?
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Explain what factors contribute to the bid-ask spread for a stock.
Tips: Slow down, understand all the details and walk through the step-by-step logic in your response. Use equations and diagrams where needed.
Market Questions
Here are sample market questions to assess your trading instincts:
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If inflation rises 2% unexpectedly, what would you expect to happen to gold prices and why?
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A company just announced a major acquisition. How could you profit from this news?
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When is it better to trade options rather than the underlying stock?
Tips: Discuss possible trading strategies. Explain how economic factors influence markets. Draw on real examples if possible.
Behavioral Questions
Personality and motivations come into play as well:
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Tell me about a time you faced a challenge on a team. How did you handle it?
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Why are you interested in prop trading rather than investment banking or hedge funds?
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Where do you see yourself in 5 years?
Tips: Use the STAR method (situation, task, action, result) to construct compelling responses. Align your goals and values with the prop trading profession.
Preparing responses and examples for these common question types will give you confidence to ace the Five Rings interview.
How to Stand Out in Your Five Rings Interview
Given the extremely competitive landscape, how can you stand out and make yourself the obvious candidate choice? Here are some proven tips:
Demonstrate passion for markets. Discuss markets you follow, trades you want to make, and reasons prop trading excites you. Convey genuine enthusiasm.
Ask smart questions. Quiz interviewers about changes in market structure, their approach to risk management, or career development. Show thoughtful interest.
Highlight relevant experience. Tie in classes, internships, or activities that built relevant skills. Quantify achievements.
Exhibit intellectual curiosity. Admit what you don’t know and ask thoughtful follow-up questions. Demonstrate desire to continuously learn.
Convey collegiality. Prop trading requires extensive teamwork. Share examples of excelling on collaborative projects.
Talk about integrity. Trading involves ethics and trust. Discuss a situation that showed your integrity.
Making yourself stand out requires presenting a complete package – the skills, knowledge, teamwork ability and integrity to excel as a trader.
Mastering the Five Rings Interview Process
Preparing for the intense Five Rings interview process takes time and diligence. Follow these keys to success:
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Practice daily with sample questions and mental math drills. Develop fluency and speed.
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Study technical concepts like statistics and game theory. Have mastery of key subject matter.
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Research Five Rings thoroughly, including their core trading strategies and business model.
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Review your resume and be ready to discuss every experience in detail. Quantify achievements.
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Craft your narrative explaining why you’re pursuing prop trading and how your background prepares you to excel.
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Watch interview videos to polish your body language, energy level and delivery.
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Practice aloud until your responses flow naturally. Record yourself to spot areas for improvement.
With meticulous preparation and practice, you can master the Five Rings interview and maximize your chances of launching your trading career at this prestigious firm. We wish you the very best of luck!
Five Rings Capital LLCProprietary Trading
Based on the Interview Insights at this company, the Interview Experience is a score between 1 star (very bad) and 5 stars (very good).
The number in the middle of the doughnut pie chart is the mean of all these scores. If you move your mouse over the different parts of the doughnut, you’ll see exactly how each score was calculated.
The title percentile score is based on an adjusted score based on Bayesian Estimates that is applied to the whole Company Database. This is done to account for companies that don’t have many interview insights. For easy explanation, when a business gets more reviews, the belief in its “true score” grows. This makes it move closer to its own simple average and away from the overall average of the dataset. 3. 4.
Based on the Interview Insights at this company, the Interview Difficulty is a score that goes from “very difficult” (red) to “very easy” (green).
The number in the middle of the doughnut pie chart is the mean of all these scores. The higher the number, the more difficult the interviews on average. This doughnut has different parts that, when you move your mouse over them, show you the 20% breakdown of each score given.
The title percentile score is based on an adjusted score based on Bayesian Estimates that is applied to the whole Company Database. This is done to account for companies that don’t have many interview insights. That is, as a business learns more, it becomes more sure of a “true score,” which moves it closer to its own simple average and away from the overall average of the data set. 4. 1.
Based on reviews at this company, the 20% of interns getting full-time offers chart is meant to give you a good idea of how the company hires people.
The number in the middle of the doughnut pie chart is the mean of all these scores. This doughnut has different parts that, when you move your mouse over them, show you the 20% breakdown of each score given.
It uses an adjusted score based on Bayesian Estimates to account for companies that don’t have many reviews, which is how the percentile score in the title is found. To put it simply, when a business gets more reviews, the “true score” becomes more likely to be accurate. This makes it move closer to the simple company average and away from the average of all the data. 37%.
TOP 5 HARDEST INTERVIEW QUESTIONS & Top-Scoring ANSWERS!
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