Merrill Lynch - graduate training programme

The banks has also supplied the following information:

Which divisions of the bank hire graduates?

Investment Banking, Sales & Trading, Capital Markets, Investment Managers, and Research & Technology. Investment Banking has the highest intake.

How much are graduates paid during training? Do you provide subsidized housing and other perks?

Whilst on training they are paid their normal salary and are put up in accommodation whilst attending training in New York.

How long does it take someone to complete your training programme?

Investment Banking runs a two-year programme.

Do you guarantee a job upon completion of the programme? Alternatively, are graduates hired on a renewable contract, e.g. for two years?

The Investment Banking graduates are reviewed at the end of two years and are given contract extensions if promoted.

What percentage had their contract renewed in 2003?

Over 80%.

Where does training take place?

Initially in New York, and then ongoing in London.

How many hours a day does training last? Will trainees be expected to work or study after hours at home?

Varies - generally 8 hours, with some after hours work.

Can trainees move between departments?

No.

How should candidates apply?

Through www.ml.com/careers.

When should graduates apply?

The closing date for full-time positions starting in 2005 will be mid-December 2004.