Are you too optimistic about your chances of getting a banking job?

4 January 2009

1 minute read

Are you too optimistic about your chances of getting a banking job?

Getting a job in banking is hard, but do you realize just how hard? Our student expectations survey, which we ran in the final quarter of last year, suggests plenty of students are too optimistic about their chances.

Of the 817 students who answered the survey in the UK 60% thought they had a 1 in 2, or better, chance of landing a banking job after they graduate.

Research by organizations like High Fliers, puts the reality more like 1 in 60.

Despite the fact that banks like Credit Suisse are rethinking bonus programmes and bonuses this year are likely to be close to zero, 68% of UK student respondents to the survey also said money was the main attraction of the City. And only 35% expected to be made redundant during the course of their careers.

For more info on the survey results, click here.

AUTHORSarah Butcher

Global Editor

Sl
Sliman
8 January 2009
If i am not optimistic, why would i apply for a job?
Of course, i am!!!l Like other applicants....
Even though the market is gloomy....
Ok, let's be pessimistic, and mourn the death of the great years of Financial markets....No way
we do that because we love that, so we will do that...even if there is not much money as it used to be...
Reply
As
Asset Management Grad
6 January 2009
There are jobs out there but, as Michael said, you need to be doing something that the thousands of other grads aren't, that could be in the companies you are applying to, the knowledge that you have or networks you have access to. My best advice would be to decide what you want to do and try to focus on that rather than scatter-gunning 20 applications to 20 different role.
I graduated 2 years ago joinging a sales graduate schemes in asset management for one of the big firms. I thought it was hard applying for grad schemes back in 2006/07 when hiring numbers were probably at their peak.
Never having contemplated being made redundant it happened a couple of months ago, but I am glad it did now as I am all the better for it. With all the bleak news I didn't hold out much hope of finding a job I wanted to do.
However, I decided to do everything I could, I met over 20 recruiters, used every connection I could to network, researched what I wanted to do ect and I have ended up with a couple of great offers! Something I never expected before.
There are things out there, good luck!
Reply
Ei
Einstein
6 January 2009
Quel naïveté...
Reply
fo
formerlehmanite
5 January 2009
Michael...QFT!!!!!! Well Said
Reply
fu
futures grad
5 January 2009
I work on a front ofice interest rate futures desk in a global investment bank and to date my job is secure. I joined as a grad in September but I am really unhappy and do not see a future for myself there. I need more activity and stimulation, I am not being worked to my full potential and feel that I would be more suited to trading considering my lust for excitement and First in Quantitative Finance Masters Degree. Do I speak to HR or do I lay low considering the climate?? I dont want to get stuck in this area and would consider a 20k pay reduction just to be happy. I feel I would prefer equity derivative trading or sales so i would really appreciate any advice you have for me.
Please HELP
Reply