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
Anthony, Asset Management, Wed 29 Aug 07
Hi, What is the assessment session like at Citi, any idea, please? I have been invited to the assessment center by Citi in attempt to land a job in Global Transaction Services. Much appreciated. A
Add your comment »Adnan Khan, Accounting, Wed 29 Aug 07
I have recently completed my MRes. Accountancy and Finance from Dundee University and have undergraduate in Mathematics & Statistics. I have got the accountancy experience and have traded on Karachi stock exchange as well. I am very keen to step in financial services sector, as I haven’t got any experience directly related to financial services so I am not able to get even temporary roles until now. Can anybody advice me? Thanks.
Add your comment »Guy, Wed 29 Aug 07
I have a 2:1 in History from a top UK university and have just completed my law conversion course, I have work experience in law but I have decided not to pursue law and want to pursue a career in the financial services industry, preferably in middle/ back office. Does my History degree exclude me from being considered for a job?
Add your comment »Ashley Garvin, Wed 29 Aug 07
I think this article should read, "Plenty of temping jobs for experienced graduates"
The idea of allowing a graduate to interview for a job without two weeks work experience in the financial industry scares recruiters. I have applied to many now and constantly hit the same barrier, "sorry we are looking for people with experience or a finance degree". Apparently having a MSci(2.1 Honors) in physics at a top 5 university(UCL) is no longer good in the eyes of recruiters. So 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.
Saying all that, one recruitment agency did make the mistake of risking me and putting me forward for a front office equities trading role. And despite interviewing against people with actual trading experience and finance related degrees I am now down to the last two candidates for the job, because the actual people employing understood that physics is actually one of the hardest degrees there is and judged me on my personality and not my seemingly ample cv!
Thomas Ockier, Wed 29 Aug 07
I graduated as a commercial engineer with distinction(72 percent). I would like to work in investment banking in London. I would like to start as soon as possible. The problem is that most of the graduate programs start in 2008. What should I do, to start earlier? Are there companies without deadlines for the graduate programs in London? What are my chances as a foreign student? I have 72 percent, can I compare this with a 2:1 degree?
Kind regards,
Thomas
David., Investment Banking / M & A, Wed 29 Aug 07
Hi
I keep hearing of top 10 universities for roles within Investment banking. I am not sure which universities are in the top 10 and which ones arent. Networking is key, top 10 or not. U need to be an extrovert and love the investment buzz words to really succeed within investment banks.
Simon, Student, Wed 29 Aug 07
Hi,
I am a final year student at Reading University expecting to get a 2.1 in French and Management Studies. Over the past couple of years I have become very interested in the financial sector however I am not sure which area would best suit my skills. Considering my degree discipline which area do you think I would have a good shot at, taking into account that my university in ranked 25th thus I don't posses the boast of graduating from a top 10 university.
Kind Regards
Simon
Ecstatic, Derivatives, Wed 29 Aug 07
For all those people with 2:2's, I have hope!! Realising I needed experience to break in (no use applying to grad progs), I looked at temping(btw, my 2.2 is in maths so that helps).
Toward the end of July, I would trawl through sites such as reed.co.uk and look at the temp jobs within the banking industry. Click through to those jobs and it gives the name of the agency dealing with the postion and the relevant requirements. Google the agency name, get a contact number, call them and state what you want to do and what area your interested in. Also, call the banks direct - most of them have temp desks in the HR (if you call, ask to be put through to their temporary recruitment division).
In one month, I had 3 interviews with 2 of the top 10 banks, turned down the opportunity to interview and a further one and will be starting a 3 month contract on Monday with Credit Suisse in derivatives.
Don't despair. Have faith, be determined, know what you want, be motivated and persevere. I thought it would never happen - now I'm the happiest guy on the planet at the moment!!
(PS. The agency that got me the job was Nicoll Curtin.)
Didier London, Thu 30 Aug 07
What 2:1 or 2:2 means?
That is a grade or a mark of the degree?
Delphine, Consultancy, Thu 30 Aug 07
My Name is Delphine and i just graduated from cardiff university with a 2:1. however, i am an international student and i am finding it hard to get a company to recruit me. especially in the consultancy field. The government introduced the IGS (INTERNATIONAL GRADUATE SCHEME), which allows international students to work in the UK for one year after studying. however, most companies do not acknowledge such schemes. I have decided to start a Masters in international management and strategy for consulting. However, i want to get a part-time job in consultancy firm. I was wondering if you could give the best advice. Thanks
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