Breaking into investment banking is no easy feat. The industry is fiercely competitive, with thousands of high-achieving graduates vying for a limited number of roles. As a result, firms have adopted rigorous recruitment processes to identify the best talent. One of the first hurdles in this process is the aptitude test.
Whether you’re applying to a bulge bracket bank, a boutique advisory firm, or a mid-market investment house, you’re likely to encounter some form of aptitude testing. These tests serve as a filter, ensuring that only candidates with the right skills and mindset progress to the next stage.
This article is a comprehensive guide to investment banking aptitude tests in the UK. We’ll cover what they are, why they’re used, the different types of tests you can expect, and how best to prepare. By the end, you’ll have a clear understanding of how to approach these assessments with confidence.
What Are Investment Banking Aptitude Tests?
Aptitude tests are standardised assessments used to evaluate a candidate’s abilities in specific skill areas. In investment banking, they are typically designed to measure:
- Numerical reasoning
- Verbal reasoning
- Logical (or inductive) reasoning
- Situational judgement
- Personality traits (in some cases)
These tests are often delivered online during the early stages of the application process. Candidates who perform well may then be invited to further rounds, including assessment centres and interviews.
Why Are Aptitude Tests Used in Investment Banking?
Investment banks receive tens of thousands of applications each year. With so many high-calibre candidates applying from top universities, CVs alone are not always enough to differentiate individuals. Aptitude tests offer several benefits to recruiters:
1. Objective Screening
They allow firms to evaluate candidates using a consistent, standardised method.
2. Predictive Power
Strong performance in these tests often correlates with on-the-job success, particularly in fast-paced and analytical roles.
3. Efficiency
They streamline the hiring process by filtering out unsuitable applicants early on, saving time and resources.
4. Benchmarking
Firms can compare results across candidates and against internal benchmarks, such as top performer scores.
Types of Investment Banking Aptitude Tests
1. Numerical Reasoning Tests
These tests measure your ability to work with numbers under time pressure. You’ll interpret data presented in tables, graphs, and charts to answer questions quickly and accurately.
Skills Tested:
- Basic arithmetic (percentages, ratios, averages)
- Data interpretation
- Financial reasoning
- Speed and accuracy
Example Question:
“A company’s profit increased from £60 million in Q1 to £80 million in Q2. What is the percentage increase?”
These tests are especially important for investment banking roles, where working with numerical data is a daily occurrence.
2. Verbal Reasoning Tests
Verbal reasoning assesses your ability to understand written information and draw logical conclusions. You’ll be given a short passage of text followed by multiple-choice questions.
Skills Tested:
- Reading comprehension
- Critical thinking
- Inference and deduction
Example Question:
“Based on the passage, which of the following statements is most accurate?”
Accuracy and time management are key, especially for non-native English speakers.
3. Logical or Inductive Reasoning Tests
Logical reasoning tests your ability to identify patterns and relationships in abstract information. These often involve sequences, shapes, or matrices.
Skills Tested:
- Pattern recognition
- Analytical thinking
- Problem-solving
Example Task:
“Which shape comes next in the sequence?”
Logical reasoning is particularly relevant in roles requiring strategic thinking or data pattern analysis.
4. Situational Judgement Tests (SJTs)
SJTs present hypothetical workplace scenarios and ask you to choose the most and least effective actions. They assess how you behave in professional environments.
Skills Tested:
- Ethical judgement
- Conflict resolution
- Prioritisation
- Teamwork and leadership
Example Scenario:
“A senior colleague asks you to finish a task urgently, but you’re already at capacity. What do you do?”
These tests reveal how well your behaviour aligns with a bank’s corporate culture and values.
5. Personality Questionnaires
While not always used, some firms include personality tests to assess fit within the company culture. These are not pass/fail but can influence hiring decisions.
Traits Measured:
- Ambition
- Integrity
- Resilience
- Team orientation
These tests are harder to prepare for, as they aim to assess your natural preferences and attitudes.
Types of Investment Banking Aptitude Tests
1. Numerical Reasoning Tests
These tests measure your ability to work with numbers under time pressure. You’ll interpret data presented in tables, graphs, and charts to answer questions quickly and accurately.
Skills Tested:
- Basic arithmetic (percentages, ratios, averages)
- Data interpretation
- Financial reasoning
- Speed and accuracy
Example Question:
“A company’s profit increased from £60 million in Q1 to £80 million in Q2. What is the percentage increase?”
These tests are especially important for investment banking roles, where working with numerical data is a daily occurrence.
2. Verbal Reasoning Tests
Verbal reasoning assesses your ability to understand written information and draw logical conclusions. You’ll be given a short passage of text followed by multiple-choice questions.
Skills Tested:
- Reading comprehension
- Critical thinking
- Inference and deduction
Example Question:
“Based on the passage, which of the following statements is most accurate?”
Accuracy and time management are key, especially for non-native English speakers.
3. Logical or Inductive Reasoning Tests
Logical reasoning tests your ability to identify patterns and relationships in abstract information. These often involve sequences, shapes, or matrices.
Skills Tested:
- Pattern recognition
- Analytical thinking
- Problem-solving
Example Task:
“Which shape comes next in the sequence?”
Logical reasoning is particularly relevant in roles requiring strategic thinking or data pattern analysis.
4. Situational Judgement Tests (SJTs)
SJTs present hypothetical workplace scenarios and ask you to choose the most and least effective actions. They assess how you behave in professional environments.
Skills Tested:
- Ethical judgement
- Conflict resolution
- Prioritisation
- Teamwork and leadership
Example Scenario:
“A senior colleague asks you to finish a task urgently, but you’re already at capacity. What do you do?”
These tests reveal how well your behaviour aligns with a bank’s corporate culture and values.
5. Personality Questionnaires
While not always used, some firms include personality tests to assess fit within the company culture. These are not pass/fail but can influence hiring decisions.
Traits Measured:
- Ambition
- Integrity
- Resilience
- Team orientation
These tests are harder to prepare for, as they aim to assess your natural preferences and attitudes.
Common Test Providers in the UK
Investment banks typically outsource aptitude testing to specialist providers. The most common ones include:
1. SHL (Ceb)
Used by many global banks, SHL offers numerical, verbal, and logical reasoning tests.
2. Talent Q
These adaptive tests adjust in difficulty as you answer, making them unpredictable.
3. Kenexa (IBM)
Popular with large institutions, especially for verbal and numerical assessments.
4. Cut-e (Aon)
Known for their game-based assessments and short but intense tasks.
Each provider has a slightly different format, so practice tests should be tailored to the one used by your target firm.
How to Prepare Effectively
1. Start Early
Give yourself at least 4–6 weeks of regular practice before test deadlines.
2. Use Practice Platforms
Sites like AssessmentDay, JobTestPrep, and GraduateMonkey offer practice tests modelled on real ones.
3. Time Yourself
Practising under timed conditions is crucial. Speed is as important as accuracy.
4. Review Your Mistakes
Don’t just take test after test. Analyse where you went wrong and learn from it.
5. Focus on Weak Areas
If you struggle with percentages or verbal logic, spend extra time strengthening those areas.
6. Stay Updated
Financial knowledge and business terminology can be useful, especially in numerical and verbal tests. Read the Financial Times or Bloomberg daily.
7. Simulate Real Conditions
Find a quiet space, remove distractions, and replicate the test environment as closely as possible.
Tips for Test Day
- Check your tech: If the test is online, ensure your internet connection is stable.
- Be punctual: Some tests are timed from login.
- Stay calm: If you get stuck, move on and return if time allows.
- Read instructions: Carefully read each question and don’t make assumptions.
- Trust your training: Rely on the techniques you’ve practised.
What Happens After the Test?
Results are often processed automatically and compared against benchmarks. You may:
- Move to the next stage (e.g. video interview or assessment centre)
- Be placed on hold
- Be rejected (often with no detailed feedback)
Some banks provide a percentile ranking so you can gauge how you performed relative to other applicants.
Final Thoughts
Aptitude tests are more than just a formality in the investment banking recruitment process. They’re a critical filtering tool that can make or break your application. But with the right preparation, they’re far from unbeatable.
By understanding the structure, knowing what to expect, and practising smartly, you can approach your tests with confidence and stand out from the competition. Remember: the test is not just about being right — it’s about being fast, consistent, and clear under pressure.
Stay disciplined, and your effort will pay off — not just in passing the test, but in building the skills you’ll need in your finance career.
