Training bankers can be a lucrative career option

It is a lucrative fallback. At the top end, trainers in investment banking can make up to 4,000 (€6,100) a day, plus a supplement for preparation and development time.

Making the transition from banker to trainer requires some forward planning, however. Rosemary Charles, a trainer at Zoologic in London says: "There are lots of very bad trainers out there. The best trainers are not just industry experts, they're very good at getting people to learn."

Charles says novice trainers can take a 'train the trainer' course, designed to foster teaching skills in the uninitiated. They can then use these to train people in the banking skills that they already have.

Train the trainer courses are offered at companies such as DC Gardner, the training division of Euromoney. Financial services specialist BCM Training has also entered the market. For a fee of 1,950 per person for three days, BCM promises to convert former bankers into bona fide training experts.

"We will teach people how to structure a training course, basic presentation skills, body language skills, and classroom skills, such as how to deal with difficult delegates", says Mark Anderson, a BCM director. "The course is designed for people who are looking for a career change, either enforced or voluntary."

Anderson, himself a former equity salesman, says that there is ample scope for former bankers to become banking trainers. "Recent industry experience is very, very valuable in the training industry. New regulations concerning training from the Financial Services Authority mean that the demand for trainers can only increase."

There is strong demand for trainers with hedge fund expertise, says Anderson. This is being generated by the hedge funds themselves, but more particularly by related support functions, such as prime brokerage.

Although a 'train the trainer course', may be a first step towards a training career, it may not be enough on its own. Michael Molinaro, global head of learning and development for Deutsche Bank's technology and operations division, says a track record is important:

"We'll always prefer to work with instructors who are well known in their field, who are published or have taught at universities. There's little value-added working with someone who's been trained to teach a course, but lacks real depth in the field."

Molinaro says that there are plenty of very good trainers on the market. In current market conditions, with graduate recruitment and training budgets down, the supply of trainers exceeds demand. Successful trainers have more than a three-day course behind them.

This view is shared by Jan Hagen, a sales director at the financial services training specialist Wide Learning. Though he says 4,000 a day is possible, he warns against a 'get rich quick' mentality surrounding some 'train the trainer' courses.

Most courses encourage attendees to part with a small sum of money for no reward whatsoever, says Hagen.

Good trainers may well be born and not made. Charles says the stars of the training industry are akin to good actors, with charisma and charm counting for more than industry knowledge.

Because most trainers work on a freelance basis, networking is all important and social skills are a key determinant of earning power.