I got a telephone interview that was limited to 30 minutes. The first 10 minutes was all about the interviewer explaining the department structure and how he expected to develop his team and what he expected the candidate to do. He then went into how many people he was interviewing and how many he expected to give second interviews and then third interviews to. After establishing that I was still interested he started asking me about my knowledge of derivatives then about my technical IT skills. He asked me about derivatives pricing models which is something I knew nothing about. I got a little chance to ask questions and I found out that I would be working one week in one office and the other week in a different office. The interview was quite frustrating as the 30 minute time meant I couldn't say as much as I wanted or ask as much as I wanted. In the end I wasn't offered the job as I didn't have enough experience but I wasn't bothered as I really didn't want to do the hot desking.