Praise culled from BarnesAndNoble.com (December 2016):
- #1 financial interview resource: 'Heard on the Street' is the best interview resource out there. Not only were the problems in the book ones
that repeat themselves in interviews, but the book also really helps you work through problems that are similar to those which you have listed.
I firmly believe that the offers that I got were extremely dependent on the knowledge that I gained from this book.
- Get the edge you need: After receiving my copy of this book, I realised just how much preparation is needed to get a position
in this highly competitive field. Some of the questions may be familiar, but the answers are well explained and will help any
prospective job-seeker to not only answer the questions, but understand the type of logical thinking required in this industry. INDESPENABLE.
- We use it to interview our candidates: Not only do I ask questions from the book to screen out the technical abilities of candidates, but
I've passed on the tip to the colleagues in my group who have grown quite fond of it too. Makes it very easy to separate the 'sheeps' from the 'wolves'...
- Indispensable for the i-bank job seeker!: I teach finance to undergraduate and graduate students, and I always recommend this book to
them before they go to challenging job interviews. Many students report back that questions they are asked are very similar or identical
to those in Crack's book. If you want a challenging career in quantitative finance, this book will help you make it past the interviews.
Praise culled from Amazon.com (December 2016):
- Excellent book for the most competitive finance jobs: This book was critical in helping me get an internship in trading with a high-profile hedge fund this summer. Throughout the interviewing process, over 50% of the technical questions that I received were discussed in this book. While the book is geared towards more technical positions and does involve a fair amount of math, I would still recommend it even if you are looking for a non-technical position with a hedge fund or an i-bank, since this book contains a lot of brain teasers and logical questions that are commonly asked in all finance interviews to test how well you can think on your feet and under time pressure. Bottom line: Very comprehensive, very rigorous, the best I have see for hard-core finance jobs. This book is definitely heads and sholders above all of the Vault guides.
- Great interview prep. book: This is a great book preparing for an interview, with lots of logic puzzles, stat. and derivatives questions, solid interview advice and some funny stories. The logic questions range from fairly straightforward and simple to more advanced, and I think most people will at least find a couple of them challenging. Great fun!
- amazing book: An amazing book. I have been on quite a few interviews and this book has helped me tremendously. Sometimes the questions I had on the interviews were EXACTLY the same or variations of questions discussed in the book. Also, the equity derivatives section is of tremendous value in that it gives a perspective on equity derivatives not talked in the many derivatives books out there. I hightly recommend the book.
- A great collection of quant interview questions sprinkled with "tales from ... : A great collection of quant interview questions sprinkled with "tales from the front", real-world anecdotes of funny interview incidents. It may or may not be useful for interviewing above the entry level since most experienced manager can easily tell whether you knew the answer to their question beforehand or not. It's a good brain teaser regardless and, for the price, a good buy. Recommended.
- One of a Kind: The author of Heard on the Street accomplishes two things with this read. First, by asking his audience to struggle with the many exercises, he engages the reader in a stimulating manner. Second, by presenting the problems and teaching us the solutions, he prepares the reader for interviewing. These two aspects make the read both enjoyable and valuable to any willing recipient of this brand of intellectual wisdom. Heard on the Street is a gem and a wellspring of valuable material not only for interviewees but also for the casual reader interested in great brainteasers.
- Recommendation: buy: This book contains many problems that can help develop your analytical thought process. Recommendation: Buy!
- Super Job!: Very very insightful and useful: right on in terms of what types of issues anyone doing quantitative financial analysis should be conversant in, things that should be on the tip of your tongue
- Five Stars: It's great as expected.
- One of a kind book!: My students are constantly borrowing this book to prepare for interviews on Wall Street. Aside from the desire for preparing for interviews, the book is interesting on its own because it forces the reader to use very simple logic in many cases to answer what appear to be complex questions. Many times, it teaches the reader that examining the question is more critical to finding an answer than automatically jumping into complex mathematical logic.
- It's Great~!: I happened to see this book in Amazon and I bought it. The questions collected are really of great help during my preparation for the interview, and the author gives very detailed answers to each of the question.It gives me an idea of what type of questions I may encounter and therefore, be more prepared for the future challenge.
- a quant trader: I recently interviewed other 30 wall street firms. I am so upset that: a. I found a lot of questions which put me away from some great places are coming from this book. b. To ask these standarized question will put an experienced trader in a unfaired position comparing new graduates. BUT: as the book said, you got to answer the damn question if they are basic. SO I hate that this book exists for us to cheat, and I hate more of those lazy employees for using this book to turn away some great assets to the firm.
- Interesting book: Some of the problems I solved in high school in Russia, some are new and interesting. Some are deep finance oriented and require significant background. Would be 5 [stars] if had a hard cover
- Really, really useful if you're in the field: I'm a financial engineering student at an Ivy League institution. Just got the book from Amazon. Awesome book, so far the best help in preparing for technical aspect of the ib (quantitative positions) interviews that I have encountered. I thought it would be sort of a black and white xerox copy - instead it turned out to be really well published. The book is rather weighty (>300p), contains a plethora of questions with detailed explanations, 0 filler. The guy is very good about cultivating the attitude of, "It's the thinking process and not the number in the answer." Overall, I would definitely recommed this. Given the amount of general info you can garner off free advice sites - vault/wetfeet, this may as well be the number one book on your preparation list.
- Do NOT interview for any analytic job before reading this!: This book is specifically targeted at those applying for highly-quantitative jobs on Wall Street, and any job seeker in that area would be nuts not to take advantage of the inside information Professor Crack reveals. The reason I am writing this review, though, is that I believe the sample interview questions and advice are invaluable to anyone interviewing for any job that involves a lot of analysis. I am not in the finance field, but rather in technology consulting. Having practiced with Heard on the Street, I found the "tough" interview questions I encountered to be downright easy, and I breezed through several rounds of interviews, landing the job I wanted at a major computer company best known by its three-letter acronym. If you're headed to Wall Street, reading this book is a no-brainer. If you're headed anywhere else that involves numbers, logic or analysis of a non-financial nature, you'll still be glad you read it.
- Newer version available and cheaper!: This is a great book. However, please be aware the [latest] ed is out there already and cheaper than this old version. I don't know why AMAZON didn't make it top in the research results.
- Really great prep for Finance interviews: 6 stars, because it's helpful too. A really fun read, for me it was like a book of crosswords. This book is best suited for MBA's interviewing for top jobs, or undergrads interested in seeing what's expected of them after they get an MBA.
- Well worth the value.: Exactly as described, very helpful in helping me find a trading job. Would reccomend to anyone looking to work as a trading analyst.
- good for PhD quant positions: This book is a good source of sample job interview questions for PhD quant positions. Other good and recommended resources for finance careers are the Vault Guide to the Top Finance Firms, the Vault Career Guide to Investment Banking, and the Vault Guide to Finance Interviews. Also try the harvard guide to finance careers.
- Exactly what I expected: Book in good condition. Working through the problems now, the questions are what you would expect. Answers are clear and helpful.
- I recommend this to everyone going into quantitative interviews: I recommend this to everyone going into quantitative interviews, and I have been asked many of the questions in the book
- Five Stars: Very useful
- Five Stars: Good
- Five Stars: Excellent Book
Praise culled from Amazon.co.uk (December 2016):
- Absolutely recommend: I bought this book after I bombed an interview at Citadel back in 2005. I was trying to break into the industry, and I was naive enough to just try to wing it the first time. I took the time to master every single question and when I interviewed again in 2006, I got offers from pretty much everywhere I interviewed. I was surprised how many times I had the same exact questions from the book in live interviews. Mind you, this was a long time ago and the questions in the wild now have changed, but I would say this book is absolutely required reading for anyone trying to break into the field.
- Useful but not indispensable.: I have read 4 or 5 books on quant interviews and I have done well when interview time came. This is not one of my favourites. The book contains a good range of questions with answers; many of the questions are challenging and interesting. However, the author is unnecessarily full of himself. He states that this is the absolute best book on the subject, which is incorrect - I have found other books just as valid, if not more. He strongly advises you to buy his own other book for learning material about mathematical finance while there are plenty of other good textbooks. He adds pointless anecdotes all over the place which are meant to scare you, but are just quite sad. If you decide you want to go through all the published material for quant interviews, do get this book - there is some good content - but don't expect it to be better than the others just because it is in its 15th edition.
- Useful: This contains a good selection of brain teasers and some basic financial mathematics questions. Ideally it should have a chapter devoted to programming (as in Joshi's interview book). From my experiencing having gone through the interview process in late 2015, the majority of investment banks are aware of the existence of such books and as such they normally try to avoid taking questions directly from a book like this.
- essential book to have if you want a quant job: Great book to introduce yourself to quant interview questions. Good guide to approach problems by maths principles.
- Five Stars: It was a present - present was appreciated
- Good practice. You almost dont need anything else: Good practice. You almost dont need anything else. I was reading way too much and I would have dine much better in the interview if I had just focussed on practice aka start doing the exercises in the book earlier
- Five Stars: very hard and professional..
- great book and great seller: The condition of the book was brand new and it arrived on time, The book itself is great and I found it very useful and in fact vital for my interview preparation.
- Useful book!: It is a lot to take in. High-recommended! Every question has long explanation and need the reader to be persistent.
- Biblical: Very good book that contains lots of questions from relatively tough to very tough. Prepares one very well for an IB/Trading/Front office interview. A must purchase.
- A book needed..: This book is a good read for all aspiring Finance applicants. This gives you a good flavour of the real thing. I love going through brain teasers and this one has some good ones. I read this book after being in the industry for a while ;)
- MUST READ FOR CAPITAL MARKETS INTERVIEW: This is a must read for capital markets interview along with Crack 2009. I found it very useful not only for the quantitative questions, but also for the competency based questions, which are non technical questions.
- Practice Quant Interview Questions: Excellent book - very thorough, and covers almost all of the technical interview questions I've ever heard. A must for anyone applying to quantitative jobs.
- Good level of detail in explanation: The writer expresses his views from the interviewers' perspective and also reviews most of the possible solutions to a question
- An excellent book for any aspiring trader/quant: I'm a MSc Financial Maths student. For me, this book was the best help in preparing for gp interviews (for a trainee trader position) that I have had so far. It contains plenty of questions with detailed explanations, 0 filler. The author stresses in many occasions the importance of the reasoning process. I would definitely recommed this. I wish I have discovered this book earlier in my career!
Praise sent directly to me
- "I just had an interview today and guess what the guy asked? Almost all of your questions. My girlfriend had printed it out [excerpts on the web] just the day before and I told her "Yeah, it probably would be good if I knew all those answers pat"
but figured I wouldn't get asked them. And did! I even asked the guy point blank "Did you get these question from Tim Crack's book?". And of course he said no. But too much of a coincidence. Now that the horse has escaped from the barn ...
...I can order this book so this won't happen again. We'll see what they decide about the results of my interview (doing quant work for a bond fund at a Boston firm)."
Above from a guy who read the excerpts from the book on the web and then bought the book after his first interview.
- "I wish to congratulate you on writing what is heralded as an insider classic..."
Above comment is from a happy customer in London.
- "I just got the book in the mail and it is awesome!"
The above is from an MBA student at a leading school.
- "I just want you to know that I received your book today. I must say
that this is an excellent book and has
exactly the right information that I was looking for. You have done an
excellent job on this book. What is
amazing is you are selling this book so cheap. I have spent over $380 on
other books and no book like yours
has the correct style - question and answer. I Thank you for sending me
this book and please keep up the excellent work. God Bless."
Above comment from Vijay Venkatesh, Boston MA. In interests
of full disclosure, note that the price was only $29.50 for the first 100 copies
sold - including his.
- "Hello Tim, I would like to order (another) copy of your terrific book.
It's actually a gift for a friend...
...Let me say that your review of Black-Scholes options theory and the
related questions are invaluable. I definitely credit the preparation
gained from working on those problems for giving me a real leg up over
other job applicants. As you can see now, I'm very happly employed
[his e-mail is from a bulge bracket I-Bank]. All I can say is, thanks for the help."
Above from a guy who bought the book, interviewed and got the
job at big name NY firm.
- "FYI, on Monday I interviewed with [top firm name withheld] for a
[type of analyst withheld] analyst position. There were 8 interviews in all,
one after the other. Each interview was approximately 30 minutes long. I was
asked one logic question and one stat question -- both, you'll be happy to
hear, were verbatim out of Heard on the Street. They asked me question
[withheld] and [withheld]. I stumbled through the questions the first time I
read your book, so I can imagine that their expectations weren't that
high. They were very impressed when I nailed them.
They also asked me: [multple other questions not from my book but withheld] and
(at the end) what my range was, when I could start, and
if I had a house to sell -- definitely a good sign!
Thanks for putting the book together. It probably doesn't surprise you
that the same questions turn up in Wall St interviews year after year,
but I was very surprised to be asked questions verbatim out of your book.
I will definitely recommend the book to friends and associates who want
to interview on Wall St. Thanks again!"
Above from a guy who bought the book, interviewed at a very
top firm and nailed tough questions after reading the
- "Your book is amazing. I have actually been asked some of the questions that
are in your book. I currently an undergraduate student at NYU who is
graduating this may. This book is GREAT, not only is it giving me insight
as to the type of questions Interviewer's ask, but I am also learning a lot
from your more quant and derivative questions. I have reccommeded your book
to a few close friends, but I think I will keep it a secret from others
until I get the offers I am striving for. Thank you."
Above comment from an NYU undergrad.
- I have found your book to be fascinating reading. I
particularly enjoyed the less quantitative
questions. I feel they expose the narrowness and confined thinking
many young MBA's possess. The "square peg, square hole" mentality is
not applicable in the complex business environment of Wall Street. I
also find your advice regarding the use of the book as [a] tool to be
absolutely correct. Most "sheep" will look to the answers with only a
cursory attempt at problem solution. The real students will work the
problems and as a result work the interviews to land the jobs.
I sincerely hope that the book continues to be a work in progress for
you because it represents a rare and vital bridge between the academic
training of graduate school and the skills required to compete in the
The above is an unsolicited reaction from a senior guy at a big-name
firm. He got a free copy of the previous edition of "Heard on the Street," and
sent this before getting the (much improved!) new version.
- "In every lecture I teach, I never forget to ask at least
one question from your book. Otherwise my students complain
loudly... In my teaching evaluations, I always have some
students claiming that this is the best part of my class! By
the end of the quarter, they are begging to know where they
can get the book for themselves. Those who come back after
getting a job offer on Wall Street tell me the interviews
went exactly like the book says, and give me more questions
to add to the book. This book is the best idea I've ever
heard of. And every time I open it I am amazed at the amount
of work you put into it."
Above comment from Olivier Ledoit (PhD MIT),
Professor of Finance at the Anderson School, UCLA
- "This book is interesting, informative and a potentially
invaluable investment for any MBA or Masters in
Finance student looking for a job in sales, trading
or quantitative analysis. It has a good balance between
quantitative and non-quantitative questions and a very
useful bibliography. I suspect that any publisher willing
to take a chance with the book would be greatly
rewarded - I can see this being recommended
supplementary reading on many course syllabi for a
long time to come"
Above comment from Ronnie Barnes, London UK.
Mr Barnes MA MSc ACA is a Teaching Fellow at London Business School.
- "Reading this book can make the difference between getting or not
getting a job on the Street."
The above is from a trader for a major investment bank who asked for
- I greatly enjoyed reading the book and would highly recommend it
to other Finance professionals.
The above is from a reviewer for a major publishing house.
- Thank you very much for the Book, I really appreciate you wrote it. It is
very valuable information for me.
The above is from a student at a US business school
- Professor Crack, Your book serves as a very helpful tool!
If you have any other editions come out please keep me informed. Thank you ...
The above is from an MBA student at U Chicago.
- I received your book this morning, needless to add I was hooked. I
thank you for an excellent compilation and research work.
- I picked up your book today ... It looks great!
- I enjoyed reading your '95 edition, thanks to Professor X's
- Your book has arrived. Needless to say I am thrilled.
Thank you for making such a book available.
The above is from an MBA student at a leading school..
- Thanks for your past book - highly informative even to those of
us who don't usually go to Wall St.
The above is from a purchaser of the first edition. The new version
is very much improved!
- Thanks for the book - it is excellent. I found several problems that I
have been asked at interviews in the past several years.
The above is from an MBA student at a leading school.
- I have got great news. My interviews have gone perfectly well, and I have
even had an internship offer already. Your book has definitely provided me
with an edge, with confidence as well as preparation.
I would like to thank you both for the information you have provided and the
your attentiveness in sending the book ASAP.
Above from a UNC undergrad seeking an internship.
- The book arrived yesterday (the 15th), 10 days exactly.
I have to say that it looks good. It's pretty much what I was
hoping/expecting it to be. It looks particularly useful for people
doing study on their own, who want to find out what sort of level
economics students are supposed to be at.
Above from a CS student in Australia who ordered the book via Airmail book rate.
- Dr. Crack,
I bought your book several months ago and loved it.
I am finishing my MBA at [a top school], and
I am also a derivatives
trader at [withheld]. I have
been on the hiring committee for several years, and would
like to buy copies of the book for my friends on the committee.
Above is self explanatory.
- About the [a specific question in my book] question, I failed
to find the answer correctly during my phone interview with the head quant
from Goldman [this is before buying my book].
Look, Tim, the questions you mentioned in your
book are sufficiently hard, and nobody can figure them out right away or on
the phone unless they heard [something] like that before.
Above is from a guy who interviewed without the book. He says you
cannot answer the quant questions unless you have seen something
like them before.