UK
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
Belinda Walmsley, HR & Recruitment, Thu 23 Aug 07
Hi Boris,
No Joslin Rowe doesn't recruit for internships - very few agencies do that i know of. The banks do all the recruitment for this themselves and your university careers department will be able to set you on the right track. Don't be too concerned about the recruitment process, as long as you visit your careers service asap they can start to fill you in on how to increase your chances of securing an internship and then a permanent position.
As to your query about part time roles - they do exist. However, they don't tend to be at graduate level.
Belinda
Anonymous, Thu 23 Aug 07
Jiayu: With a 2.2 and poor writing skills you will not get far..
Add your comment »JJN, Student, Thu 23 Aug 07
What about for people coming from non finance degrees? I am going into the final year of an arts degree, is there still any hope for me considering I have secured an internship this summer?
Add your comment »Stephen Connolly, Student, Thu 23 Aug 07
I've just left a phd programm in applied maths, my funding ran out. But i really want to get into the quantitative side of financial analysis. I already have an Msc and an MA in mathematics and computing but i just can't get the interviews because i don't have enough experience. Are there temp jobs in the quant side of things?
Add your comment »Fr, Fri 24 Aug 07
I'm a student from a top italian university planning to graduate ( with 2:1 in banking and finance degree)in december.I'm doing a 6-month internship in operations department in a top us investment bank, but looking for M&A analyst role.Can your firm help me?
Add your comment »V, Student, Fri 24 Aug 07
Hi Belinda, when you say Finance experience, what does that specifically, i am interning at a bank (before university) but im not in Front Office, (MO) could i have "finance" Experience?
Add your comment »Belinda Walmsley Joslin Rowe, HR & Recruitment, Fri 24 Aug 07
Hi V,
Yes "finance" experience is my shorthand for someone who has any kind of experience in the financial services sector - whether this be in front, middle, back office. So yes, it would seem as though you are well on your way to gaining very important experience.
kind regards,
Belinda
Belinda Walmsley, HR & Recruitment, Fri 24 Aug 07
Hi everyone that I have yet to reply to personally,
I think this posting should cover most of your queries to date. I think one thing that some of you may be thinking is that temporary work can provide the "work experience" many of you require to get ahead. Whilst we do sometimes take on exceptional grads with no experience generally the criteria for temporary jobs in investment banks still requires a little relevent experience already (even a few weeks will do it) then once you can get your foot in the door its THIS experience gained whilst temping that generally leads to a permanent position (that's what I meant in the original article about it being an option for those not successful in finding a perm job via the milkround etc) Temporary roles are normally right across the board so cover almost every area you can think of but in a more "support" capacity (ie at the entry level these roles are rarely very front office facing).
Hope that helps clarify things. Do continue to email me via BelindaMartin@blomfieldgroup.com if you have other queries or if you think you fit the bill CV wise, send your details to banktemp@joslinrowe.com
anon, Fri 24 Aug 07
I'm a 1st class grad (in a Maths based BSc from a top 10-15 Uni) with a year's solid experience where I worked in finance for a leading IT company. Despite my attempts to enter I-Banking via the grad schemes, the answer is always the same: “you do not have strong enough A-levels” (240 UCAS exc. General Studies). What is the possibility and how can I get a role in Research or Risk for a leading IB considering my far more recent accomplishments in my degree and also my current role for a small/medium trade house as an Analyst?
Add your comment »Steph, LSE graduate, Student, Fri 24 Aug 07
I am an LSE graduate with a 2.1 in BA Geography. I was always lead to believe that studying to degree level at a good uni with good results would almost guarantee you a good job. Evidently, this is false. Work experience is vital to landing a good job. Sadly, unlike my peers I did not have the networks/resources to let me know. Although I have not studied economics or accounting, I do believe I have developed a range of skills and qualities through my geography degree. To what extent can we separate financial institutions from broader geographical issues? Is it not globalization that enables businesses to compete on an international scale. Since post 16 education I have worked in the retail sales industry, only to get some extra cash to support myself through my studies. I appreciate this is not finance related. However, I have acquired important skills, such as building relationships, communication and leadership. How far does your degree matter anyway? I have spoken to an MD in GS who studied French at uni. I know a few people who have told me that their degree is irrelevant now, as they are being trained on what the company wants them to know. Can anyone help me.
Add your comment »
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