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
Maha, Sun 26 Aug 07
Hi there,
I’m currently studying business management and will be going into my third year this September. My query is regarding seeking advice in the finance sector, as you know finance has so many different areas in which one can work in. I was wondering if any one could advise me what area would be suitable to consider. I am a hard working dedicated student however would like to work in an area that does not require intense maths and stats and strong numerical skills. I am not saying I find it difficult but would prefer something a bit more relaxed and more theory based perhaps? I have been recommended consulting from peers?
Can anyone please help?
Maha, Sun 26 Aug 07
Hi there,
I’m currently studying business management and will be going into my third year this September. My query is regarding seeking advice in the finance sector, as you know finance has so many different areas in which one can work in. I was wondering if any one could advise me what area would be suitable to consider. I am a hard working dedicated student however would like to work in an area that does not require intense maths and stats and strong numerical skills. I am not saying I find it difficult
but would prefer something a bit more relaxed and more theory based perhaps? I have been recommended consulting from peers. Can anyone please help?
Ammar, Accounting, Sun 26 Aug 07
i am a pakistani business graduate and i have passed acca part 1 and four exams of acca part 2.Apart from this i am doing postgraduet diploma in economics from lse and i am a member of british computing societ and apering for their post graduate course in april. What long time chances i have got and how can i find a training contract in uk being an overseas student. help me please.
Add your comment »Anon., Sun 26 Aug 07
I agree with the comment above. Jiayu, I understand that you're frustrated with the fact that a 2.2 student should be able to demonstrate his/her skills, but you also need to communicate well. As a foreign student myself, I know writing well in a 2nd language can be tough, but employers, even for temp roles, will care very little. Perhaps it is this aspect that is letting you down?
Add your comment »SJC, FX & Money Markets, Sun 26 Aug 07
Thanks for everyone's advices.
I am wondering how difficult is it to get into HR or headhunting? Will my front office internship experience and strong languages skills get me into HR in investment banks or headhunting? I only got a 2.2 from Imperial College (It's the most stingiest uni that gives out good grades!) BUT, I believe I have natural sales ability.
Lastly, reminding those who want to get into investment banks' front offices, you really need to think carefully. i know you might have heard this a lot of time, but please let me remind u - this is not a place for everyone. The amount of workloads, the long hours, the aggressive colleagues, the back stabbing (luckily I am only a witness) etc. Thank god it's only an internship!
Thanks.
NR, Sun 26 Aug 07
I graduated recently with a high 1st from a 'top university' - but not in anything finance-related. On the hand, I AM, I think, highly 'numerate', but have no qualifications to prove it (My first degree was in Pure Maths, but I dropped out before taking my final exams). Could I not do some kind of aptitude test to demonstrate my mathematical/numerical ability?
(In brief, my problem is the opposite of William above.)
What can I do to get a job, and quickly?
Daniel, Student, Sun 26 Aug 07
The sad fact is banks get thousands of applicants and your degree result is an easy filter. I know people working for UBS, Lazards and ABM Ambro with 2:2s, its just a lot harder to get in unless you are lucky or know someone - dont give up.
Add your comment »MJ, Investment Banking / M & A, Mon 27 Aug 07
im in my last year of college (in year 13 ) and will goin uni from sep 2008 is it still possible to gain an internship at a investment bank or am i too young?
Add your comment »woodie_woodpeck, Research, Wed 29 Aug 07
MJ - Some banks offer 2-week Easter Taster Sessions for pre-undergrads. Maybe Lehman but I forget.
Add your comment »Will, Capital Markets, Wed 29 Aug 07
In response to William's comment: ('To be honest, I'm pretty certain my lower second in physics is the equal if not better than some 2.1s, even firsts, especially if they are in a humanities subject ').
The City is a hard-edged and competetitve environment. Whereas Imperial ranks as one of the top British Universities, the challenges presented by their Physics Department will seem like NOTHING compared to what most Banking jobs demand.
Furthermore, having achieved a First from a University which ranks above yours, I find your attempt to belittle other people's achievements as both arrogant and naive.
I encourage you alter your attitude and then work out a much better excuse for having under-achieved at university.
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