Improve Your Commercial Awareness with these Five Podcasts!

Have you ever been in an interview where the interviewer asked you about a recent news story you read, and you could not think of anything? Or did you remember something vaguely but could not elaborate on it? This is what recruiters consider a lack of commercial awareness.

In a day and age where information is readily accessible, recruiters expect students to have a certain level of commercial awareness more than ever!

Picture this. You have secured a summer internship with your dream company (HSBC, JP Morgan, etc.) and are enjoying working there and learning from your colleagues. On a random Wednesday afternoon, your team is discussing the recent Fed announcement and how this is likely to impact the market. Everyone is sharing their opinion, and you have been silent so far. Your colleague turns to you and invites you to share your thoughts, but you have no idea what they are talking about. You quickly try to Google the recent Fed announcement, but it’s too late! The team noticed your lack of knowledge on this…. While this may sound scary, it is very likely to happen, especially if you seek a role in Investment Banking, Sales and Trading, Mergers and Acquisitions (M&A), etc.

While your commercial awareness may not have been tested during the interview process, it will be tested at any stage during your internship. Therefore, it is essential that you keep abreast of current affairs, especially if you are hoping to get a return offer (although this is NOT the only criterion they will consider when making their decision).

During the interview process or application form, the hiring manager may test your commercial awareness by asking you a wide range of questions. Examples of commercial awareness questions might include:

• What industry-specific or business news publications or websites do you read?

• Tell me about a business story you have read recently that interests you and why.

• How do you think that news could potentially affect our business or that of our clients (follow-up questions to the above question)?

• If I gave you £ 10,000 to invest in a project or new product in the next three months, what would it be and why?

• What are some of the biggest challenges facing us (the company) over the next few days?

One way to ensure you stay abreast of current affairs is by listening to podcasts, especially if you have a busy life and/or do not enjoy reading complex information. There are loads of podcasts out there that discuss different market’s news. However, I have narrowed them down to the five I recommend the most, although you do not have to listen to all of them.

1) Bloomberg Wall Street Week:

• Frequency: Weekly (every Friday)

• Average Length: 20 min to 45 min

• Industry: Investing

The Bloomberg Wall Street Week is an investment news and information airing every Friday and hosted by David Westin. The podcast is aimed at those interested in finance and discusses topics such as AI, Fintech, ESG, etc.

2) The FT News Briefings:

• Frequency: Daily

• Average Length: 5 min to 15 min

• Industry: Any

The FT News Briefings is a rundown of the most important global business stories you need to know to start your day. You can listen to it while in the show, at the gym or on your way to school. The podcast contains little to no technical terms, and all technical terms are explained at a beginner level. If you were to listen to only one, I would recommend this one regardless of the industry you are interested in.

3) The Bid:

• Frequency: Weekly

• Average Length: 15 min to 25 min

• Industry: Investing

The Bid podcast uncovers BlackRock’s perspective on timely market events and investment ideas. Each episode features strategists or portfolio managers who discuss the latest on topics such as geopolitics, sustainable investing, technology, and artificial intelligence.

4) Daily Tech News Show:

• Frequency: Daily

• Average Length: 20 min to 45 min

• Industry: Technology

The Daily Tech News Show, aka DTNS, is dedicated to providing listeners with easy-to-understand tech news. In the podcast, Tom Merritt, Sarah Lane, and other guests analyse the day’s top tech headlines in a fun and informative manner.

5) Market Maker:

• Frequency: Weekly

• Average Length: 20 min to 50 min

• Industry: Investing

Market Maker is a podcast specifically designed for students looking to break into the finance industry and stay abreast of current affairs. Hosted by Anthony Cheung, Head of Content and Culture Officer at AmplifyMe, the podcast discusses topics such as interest rates, commodities, the latest IPOs (Initial Public Offerings) / M&A deals, and tips for excelling in your summer internship.

Opportunity of The Week:

1. 📢 For students in their first year of university (or students in their second year of a four-year degree) in the UK & Ireland from disadvantaged backgrounds, McKinsey invites you to apply for the Future Talent Programme. During this programme, you will have an opportunity to network with McKinsey consultants and coaches, work on developing your leadership skills, and learn more about the consulting industry. Apply here by April 28th.

2. Are you a penultimate-year student interested in kickstarting your career in asset management? Do you want to grow your understanding of today's complex investment landscape? UBS is hosting a stock pitch competition in May. Find out more and apply here.

In The News:

Food inflation across rich nations has dropped to its lowest level since before Russia’s full-scale invasion of Ukraine. A slowdown in price growth is easing pressure on millions of households hit by the two-year surge in food costs.

McKinsey has offered to pay some UK and US staff to leave the firm. This follows a rare round of 1,400 job cuts last year.