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Graduate Programmes
Plenty of temping jobs for graduates
21 August 2007Markets may be in crisis, but banks don't appear to have relaxed their need for graduate assistance – at least in the short term.
COMMENTS
If you are a graduate without the holy grail (some relevant experience) then you can forget entry in to the financial markets through any method other than the graduate recruitment schemes run by the top IB's Read all comments »RELATED ARTICLES
According to financial services recruitment firm Joslin Rowe, banks and custody firms are hiring graduates on temporary contracts to fill roles such as derivative operations, dividend calculation, collateral management and equity trade support & settlements.
Although the temporary roles don't offer instant access to the most desirable front-office (client-facing) jobs in areas such as M&A and sales and trading, they can be a possible stepping stone to the more prestigious and higher paying areas of banking. "This is good for people who haven't done well in the milkround and need to get some experience on their CV," says Joslin Rowe spokeswoman Belinda Walmsley.
Successful applicants will need a 2.1 in a numerate or financially-focused degree, Excel skills and a demonstrable interest in financial services. Applicants should send CVs and covering letters to banktemp@JoslinRowe.com.
Pay ranges from £12 to £16 per hour (around £30k a year) and contracts typically last a minimum of three months.
Separately, Financial News reports that banks are hiring an average 13.5% more graduates to their official recruitment schemes in 2007 than in 2006. Nomura and Bank of America have seen some of the biggest increases, while Goldman Sachs increased the number of trainees it's hiring from 268 to 324, an increase of 21%.
COMMENTS
new, Capital Markets, Wed 22 Aug 07
SJC,
You are very different! you could work there for couple of years and then move to back office within the same company.
Belinda Walmsley, Joslin Rowe, HR & Recruitment, Wed 22 Aug 07
Dear "need advice student,"
I may be able to advise you further if I have a better understanding of your profile. Please feel free to send it through and I will see if I can offer any pointers.
kind regards,
Belinda
Trader, Wed 22 Aug 07
SJC,
If you wl get an offer from your fiirm, tell them that and they will give you a middle office position. Obviously first will wonder why , don't say long hours but more in line with the type of experience a middle office role will give you. Then you can mention work-life balance.
The front office jobs are not for everybody and the internship is a way of determining that. If that is the case i say why even middle office in banking maybe you should look at an alternative career.
NH, Wed 22 Aug 07
I recently submitted my cv to your temps@joslinrowe address stating that i've just graduated, am moving to london and wish to begin temping however, I received a call from someone who deals with permanent positions which i'm currently not interested in. Is the best course of action to resend my CV to banktemp@JoslinRowe.com and start over or is there someone i could call to check whether my CV has already been sent across to the relevant people?
Add your comment »Faheem Sheikh, Accounting, Wed 22 Aug 07
i've recently graduated with a post graduate certificatein Accounting and Finance from the Bradford School of Management, what are my chances of getting a temp role in a Investment Banking role? im trying to gather as much feedback as possible and would be grateful for ur help
cheers
Caribbean student, Student, Wed 22 Aug 07
Been to agencies and at least 4 advised they mainly place for experienced roles so I must approach employers directly. Thanks for the kind wishes. I'll keep pressing on.
Add your comment »Philosophy student, Student, Wed 22 Aug 07
I have just graduated from a top UK university with a high 2.1 in philosophy: I understand that it is not a financially focused degree, but I do have a good Pure Mathematics A level. Also, my degree has challenged me to think analytically and critically. I am a very fast learner with a sharp mind, some clerical work experience and the drive to succeed: would anyone be interested in my CV?
Add your comment »Belinda Walmsley, HR & Recruitment, Thu 23 Aug 07
Hi Faheem,
Well temping isn't the easy option (although it is a little more flexible than permanent recruitment) so although sometimes "raw" graduates (which is the term for those without any experience in the banking and finance world)do secure a position, applicants with even a few weeks work experience or of course those with the holy grail of an internship have most success.
Belinda Walmsley, HR & Recruitment, Thu 23 Aug 07
Hi Anthony,
You need to be applying to all the intership vacancies you possibly can. Joslin Rowe doesn't recruit for these nor do any agencies as a rule - but your University careers library will be able to help you. Your chances of securing the internship although influenced heavily by where you are studying and your degree/previous academics etc, is also influenced by your own person knowledge in the areas you are interested in. So as much as you can do to read about the financial world and involve yourself in university challenges and societies that are affiliated to these interests, the better.
Belinda Walmsley, HR & Recruitment, Thu 23 Aug 07
Hi NH,
It may have been that there was the perfect permanent position that your skills at the time suited and they wanted to rule out whether you were looking for temporary or permanent roles. If you want to send your CV to me directly Belindawalsmley@blomfieldgroup.com or the banktemp@joslinrowe address we can take another look.
kind regards
Belinda
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