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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
Emma, Student, Thu 30 Aug 07
Hi there, I'm just wondering if I could get any ideas from anyone - specifically 'Ecstatic'!
I'm planning on the general application routes this autumn, but of course experience helps a lot as they're so competitive, and those roles don't start until next year...I am in a similar kind of boat to many of you, though instead of the 2:2, I have a 1st, but its Science, not finance/business/etc., and I have no experience. I have started the recruitment agency route, emailing them for advice, hoping I get forward for some of these temp jobs, but it would be great if I could get any more names of recruiters.. I've got about 5 so far, the 'major' ones. Are there any that anyone has had any particular sucess with? Thanks
Confused, Thu 30 Aug 07
Hi there,
I am a recent graduate from the top three universtities in the UK. Just recently got an offer from a top-tier investment bank in London. I am on the progress of having my work permit sorted out, but am just no sure this Back Office job is right for me...I am very excited about the offer at first, but I really don't think my talent in Mathematics has been spotted enought, and I would like to try breaking into the front office. If someone can help me and give me more advice please.
Rossco, Information Technology, Thu 30 Aug 07
Hi, Im 28 and a computer science graduate (2003) and REALLY want to get into prop trading.
At 28 am I too old to make an impact?
Thanks
Ross
Tony, Student, Thu 30 Aug 07
I Graduated in 2006 from a top 5 university with a 2.1 in geography. Having spent the last year travelling around Latin America, I am now back in the UK and am itching to get into investment banking, with a priority for trading.
The down side is I haven't done an internship and thus don't have much 'city' experience on my CV, although I am spending a lot of time educating myself about finance and markets etc!!
Any advice on the best next step?
Tolu, Student, Thu 30 Aug 07
Hi, I hope you can help me. I graduated with a degree in land surveying(engineering) from a Nigerian university. A desire for a career change brought me to the UK. Currently, I'm in the final year of another undergraduate degree (Business Information Systems), enroute a 2:1, though not a top 10 uni. I hope to proceed for M.Sc. studies (maybe financial maths or something along that line) in one of the top unis in the UK.
My biggest challenge is getting some industry experience. b'cos I was a direct entrant into the BIS degree, I wasn't aware of the system of getting summer internships until it was too late, thus I couldn't get an internship. How do I get some form of experience so as to improve my prospect in the market place. Oh, I forgot to mention that I'm seeking a long term career in the investment banking sector (quant, exotics, commodities)
CFC, Investment Banking / M & A, Fri 31 Aug 07
Hi there,
I had graduated with a 2.1 in Accounting and Finance in 2003 (Not from a top tier Uni) and to date my career has been in Management Accounting (Healthcare/FMCG sector). I am also in the process of completing my CIMA and I am an associate member of the SII.
However, I have accepted an offer from LSE to study a MSc in Finance on a part time evenings basis over 2 years. The main reason I chose to accept this offer is because I have a genuine interest in Banking and the financial services sectors and want to persue a career in it.
Can you perhaps give me any decent advice in getting any relevant experience in this sector and what my chances are in making this transition please...
Ecstatic, Derivatives, Fri 31 Aug 07
Hi Emma,
Check these websites for agencies (you'll have to google the agency name for contact details)
reed.co.uk
cityjobs.co.uk
Both have a long list of agencies. Don't just go after the 'major' ones. In my experience, the top ones are snobbish and don't much care for your personality or ability.
After calling an agency, I'd make it clear that I want to temp to build experience and get that 'foot in the door'. It helps to understand something of investment banking as well!
I would read the FT as well as google any 'investment' terms I don't understand. There's a website called investopedia.com that goes through most of the investment terms and will help you learn about the field.
When you contact agencies, make sure you really do know what you want to do and what you hope to achieve from temping in this field.
So, basically...just research a lot! I impressed my interviewer at Credit Suisse (who will be my line manager)by having a basic understanding of the work that I would be involved in and she didn't expect an interviewee to know that.
Also, you need some luck and just constantly contact agencies all over! I think I'm registered to approx 25 agencies!
Irine, Fri 31 Aug 07
I will be graduating soon from City University,London, with a 2.1 in Bsc Actuarial Science.I really need graduate internship or anyworkexperience, but it seems so hard for me.I have had part-time jobs and have been told they are not relevant therefore delete them from my CV.Do you think i can get a job with a blank work experience section.
Add your comment »Miss E, Accounting, Sun 02 Sep 07
Hi,I have very good A Levels 2 A'S and B,graduated 2 years ago with Pass in Accounting and Financial Management.At the moment doing my ACCA,did a work experience at a small accountancy firm for 5 months as a Trainee Accountant.Been looking for jobs even Graduate Schemes/Internships with no luck.What should I do.
Add your comment »Ono, Operations, Mon 03 Sep 07
I am currently working as a fund accountant but am looking to move into energy trading. I thought having financial experience would make it easier to get this type of role but so far no luck. How do I go about getting the job i want?
Add your comment »
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