Students have no illusions about a banking career

But one in seven students - more men than women - see an investment banking career as potentially attractive.

The report, 'Careers in Investment Banking', says: "Investment banking suffers from being perceived as a complex, specialist field which is dominated by men, is stressful and tends to take over one's life, to the detriment of outside relationships and the family.

"On the upside, it is seen as lucrative, an excellent training ground and offering other material benefits."

Both men and women said the prospect of working in an area of interest, a prestigious area and one offering fast career progression were more important than material benefits.

But many women students consider a career in investment banking to be too stressful, lacking a good social life and not conducive to family life. Those who are interested in such a career nonetheless are prepared to make a sacrifice.

Personal contact with those who have worked in an investment bank is deemed to be of particular importance in considering this as a career path. Men are more likely than women to know someone already in investment banking.

Female students see the sector as discriminatory in its employment opportunities in a subtle rather than a overt sense. They believe it is a male-dominated sector where men do not encourage women to join, make it difficult for them to get promoted and feel threatened by successful women colleagues (whom they nevertheless respect).

Women students also expect women in banking to have to work twice as hard as the men to succeed. They expect to be judged on their looks more than are men.

In a profile of the respondents, the survey found that those interested in careers in investment banking "are more likely than the average student to have visited bars and night-clubs in the last seven days, and to have had posh meals out." This may reflect their age, which is higher than the sample average, more than their social behaviour per se, the report said.

Among the further education students interested in such careers, 35% were at sixth form colleges and 36% at state schools, with 19% at independent schools. The survey said: "This perhaps dispels the myth that investment banking is the preserve of those attending private education."

Not surprisingly perhaps, those studying maths (35%), accounting/finance/economics/insurance (33%) and business management (28%) were most likely to be interested in careers in investment banking.

On the other hand, those who would definitely consider a career in investment banking were not very interested in working in the media.