First round interview was over the phone. I interviewed at three different divisions (Research, Capital Markets, and Sales and Trading). I was surprised that the interviewers were generally higher-ups (two VP's and one Director), but I'm not sure how common that is. The research interview was genial and we talked about current economic events and basic resume selling. The Capital Markets interview also had basic resume questions and a simple accounting question (how do the three financial statements affect each other). The Sales and Trading interview went the worst out of the three. It seemed like the interviewer wasn't paying attention to me and was probably working while we talked. The questions he asked were very much focused on putting me on the spot, and he made a point of saying the most valuable skill for the job was thinking on your feet.