Summer Analyst Training Program Scam?

[jacobspina]

Hi everyone,

I was curious as too if any has heard or taken part in Ibank coaching/ Asia Quant Academy and their summer analyst training program. Allegedly its a 4-week Guaranteed Finance/Consulting Placement with a UK/ HK/ US/ SG based finance institution/consulting companies. The Asia Quant Academy claims to be "partnering with 58+ hedge funds, trading boutiques, quant trading firms and so on". They also offer a Certified Quant Training Program QDA(UK)®Certification. I attended an hour long zoom meeting with some of the career coaches and it seemed like a good opportunity to gain experience. But there is a fee and they were very broad about the details about everything. So I am questioning the legitimacy of these programs. If anyone has taken part of these programs or has heard anything, that would be very helpful. Thanks!

 

[kingkonghg]

How was it? Did u join it? Was it legit?

 

[Mike Li]

I would like to ask the same thing.

 

[jacobspina]

I unfortunately did not, they had fees at the time which I did not feel like paying. I'm also a U.S student, their services and connections tend to be targeted for students in London, Hong Kong, or Singapore. If you are there it may be worth looking into, they offer a pretty comprehensive course, lots of interview prep materials, letters of reference, and a "4 week guaranteed placement". It may be helpful for broadening your knowledge (application of your studies and course education) and a nice resume boost but I don't think it holds up against an actual internship. Then again i didn't do it, so it might be just as good.

 

[Andy Nguyen]

I'm very skeptical of anything that asking people for a ton of money for a guaranteed placement. Finance is a meritocracy industry so paying to get in is looked upon very negatively. Even if there is guaranteed placement, not sure if it's worth the money.
If there is an alarm bell ringing, trust your instinct.

 

[jacobspina]

I'm very skeptical of anything that asking people for a ton of money for a guaranteed placement. Finance is a meritocracy industry so paying to get in is looked upon very negatively. Even if there is guaranteed placement, not sure if it's worth the money.
If there is an alarm bell ringing, trust your instinct.

Agreed, this industry requires students and applicants to have a certain level of aptitude and grit. Having to pay for that experience diminishes that value and gratification received by going through challenging assessments and interview rounds and receiving an offer because a firm values your abilities.