British trainee analysts at a leading investment bank’s New York office have been sacked after they were caught cheating in a “basic” maths test, the Telegraph understands.
The disgraced junior bankers are said to have been told to pay for their own flights home after instructors discovered the foul play.
It is understood that nearly a dozen of the trainee analysts at JP Morgan, some of whom are British graduates, were caught sneaking notes into the exam room or copying fellow trainees’ answers.
It’s not that you have to know the answers in banking. Only that you know where to find them.
But you have to be able to do this without the client realising that you are clueless. That is, you must be a successful cheat.