eFinancialCareers

Investment banks are slipping down the ranks of European business students’ preferred employers.

In the latest survey by graduate research company Universum, banks such as JP Morgan, Goldman Sachs, and Deutsche Bank, proved less popular than last year. JP Morgan ranked highest among banks, in 19th place, down from 13th in 2004. Goldman ranked 22nd, down from 14th twelve months ago, and Deutsche bank ranked 23rd, down from 21st.

JP Morgan and Goldman Sachs were unavailable for comment.

Morgan Stanley and Citigroup remained static in the survey of 15,000 students, at 27th and 28th place respectively.

Universum’s research also unearthed discrepancies in the aspirations of would-be investment banking employees. Compared to the average European business student, aspiring bankers were less interested in ethical standards, work-life balance and career security, and more interested in earning lots of money and working internationally with top-class colleagues.

The head of recruitment at one US bank in the City of London denied work-life balance and ethics are unimportant to graduate recruits: “There comes a point when work-life balance comes into the equation, and ethical standards are an increasingly big issue for us.”

She said money is not the only motivator for would-be bankers: “The jobs we offer are all different. People who go into global markets may be in it for the money, but people going into investment banking will be more driven by high profile deals and the opportunity to reshape industries.”