What to expect from a graduate training programme

A graduate training programme in an investment bank is no walk in the park. Those who go through the process will come out irrevocably altered.

"At the end of the programme, we want to see a poised junior banker with in-depth product and industry knowledge, strong technical capabilities and effective communication skills to get him/her prepared for a senior role executing transactions and managing client relationships," says Vincent Chow, assistant vice president for Citi's markets and banking human resources department, Asia-Pacific.

"It does not matter what a graduate's background is: we will give them all the training they need to do their job, but they have to want to learn," says Rhiannon Thomas, head of Asia-Pacific graduate recruitment at Deutsche Bank. "Graduate training requires a massive commitment from the bank in terms of financial cost and time. We do this because we want to develop the bank's future leaders from the programme."

Structure

Graduate programmes typically last for a couple of years, varying according to the area of the business. At UBS and many other banks, programmes start with an induction, followed by business training to help build technical skills and the opportunity to work across divisions, or specialise in a particular area.

"The aim is a combination of practical work experience and top education and training, focusing on specific business skills as well as personal development," says Matthew Henderson, head of campus recruitment, Asia Pacific at UBS.

Classroom training

If you're lucky, your graduate traineeship may start with a spot of classroom-based training in New York. Large US banks typically send new recruits to the US for induction, but some German banks seem to be doing the same.

"At the start of September, every graduate from all locations will go on a training programme in London or New York with the peers from the division they are going into," says Thomas at Deutsche. "They receive classroom training from specialists and people from within the business. The aim is to provide them with the knowledge and skills they need to go back to their office and do the job effectively."

Even if you don't go to New York, you can expect the same fare locally. "UBS's ready-for-work training commences with a period of intensive classroom learning," says Henderson. "Graduates gain exposure to UBS's business model, products, clients and risk control, as well as chances to interact with senior leaders from across the business. As part of this, they will learn processes and systems common to all our graduates and work towards examinations such as regional regulatory registration.

The duration of the classroom component varies considerably. Training in New York is typically focused on induction and lasts a few weeks, but additional classroom training is likely when you get back. In areas such as global markets, Thomas says the classroom component lasts as long as three months.

Rotations

Once the classroom component of training is over, most banks will unleash you on the business in a series of 'rotations' across different areas, designed to familiarise you with how the division you've applied to works and to help you decide where you want to work when training ends.

Within any division, graduates are likely to go on between two and four rotations, "which will help them decide what area they work in when they finish the programme," explains Thomas.

Mentorship

Mentor schemes form a major part of the modern graduate programme, with banks keen for new recruits to get support where needed.

"They will have a support network including an HR person, their line manager and a mentor who will coach and monitor them for the first three years to ensure they are receiving proper career development," says Arulraj.

"In Asia, we endeavour to offer mentoring wherever we can and it is something we are focusing a lot of effort on," adds Thomas. "We operate the buddy system, where the analyst [graduate recruit] will partner someone who has likely been on the programme previously but has a few years experience."

Asia focus

Where possible, banks try and make graduate programmes as standardised as possible, so someone from Hong Kong and New York will receive similar training.

"This gives everyone the same opportunity. However, there might be certain products unique to a certain market; so where that applies, additional training may be given," says Thomas.

"All our training programmes adopt a global outlook, although after initial classroom training, further learning and development and networking opportunities within the region are provided to build skills and help foster strong working relationships," adds Henderson.