Barclays Capital - graduate training programme
Barclays Capital offers its graduates in-house training at venues in and around Canary Wharf in London. Initial training takes place over a period of between 3 to 8 weeks and begins in either February or September. Including ongoing training, the programme takes between 16 months and two years.
The bank has not disclosed how many graduate trainees it intends to hire in 2003.
In May 2002, it said it planned to hire 180 graduate trainees globally later that year. Of these, 103 would go into front office positions, 5 into finance, 13 into operations, 3 into human resources and 56 into IT.
The bank has supplied the following information:
Which subjects are covered by the basic training?
Excel/VBA, product knowledge, basic accounting, and presentation skills.
Are graduates trained in mathematical principles?
Graduates only join the training programme if they have already passed a numerical reasoning test at the first stage of the recruiting process. The training programme reinforces their existing numerical ability.
What kind of specialist training is offered for each division, e.g. trading, corporate finance, and so on?
Each area has a specialized training programme. However, all trainees entering the front office are instructed on writing a pitchbook, applied rates, systems and on credit and valuation. They will also undertake a trading simulation.
More specifically, the operations division offers training in: types of securities, settlement processing and conventions, treasury and cash management, credit line calculations, nostro (inward remittances) management, operational risk and control, middle office functions, presentation and communication skills and regulatory training.
The finance division offers training in: types of securities product pricing and risk analysis derivative model validation profit and loss (P&L) explanation and attribution accounting and finance principles balance sheet control management accounting and cost variance analysis and regulatory and financial reporting.
The human resources division offers a combination of on the job training and programmes from the CIPD (Chartered Institute of Personnel and Development). CIPD programmes include compulsory core management and core personnel & development modules plus a flexible third module that offers electives in a number of topics such as: employee resourcing, employee development management development human resource planning performance management employment law equality management and career management.
Can trainees move between departments?
Yes, but this is not common practice. Graduates are hired into a specific area and normally stay there. Most graduates rotate within their area.
Are there opportunities to learn additional languages?
If there is a business justification, graduates are encouraged to undertake language tuition.
Are there opportunities to pass professional exams?
Yes. These include: CIMA (Chartered institute of management accounts), CFA (Chartered Financial Analyst), CIPD (Chartered Institute of Personnel and Development) exams, MCSE (Microsoft Certified Systems Engineer) and Securities Institute Diplomas.
How many hours a day does training last? Will trainees be expected to work or study after hours at home?
Typically 09:00 - 17:00 with evening work. Front office hires will also have evening training for regulatory exams.
What if a graduate trainee wants to do an MBA or MsC in a few years' time? Might the bank provide sponsorship?
If there is a business justification the bank will consider sponsorship
How is performance during training assessed?
There are formal tests after each module. All graduates will join a desk at the end of their classroom training.
How much are graduates paid during training? Does Barclays Capital provide free housing and other perks?
Analysts and associates are paid their normal salary during training. Packages include either a housing or a car allowance.
