Oxford, Cambridge, Imperial or bust?

5 January 2009

2 minute read

An article in today's Financial Times makes depressing reading if you don't happen to be at one of the three universities named above. Fortunately, it may not be true.

According to the FT, investment banks are restricting their graduate recruitment to such an extent that they're now only targeting students from an 'inner circle' of universities comprising Oxford, Cambridge and Imperial.

The FT says some banks are also prepared to put effort into recruiting from an outer circle of universities comprising the LSE, UCL and Warwick, but that's about it.

The article quotes the director of Oxford's careers service, who says one bank told him it was reducing the number of university campuses it visits from 67 to 25, as a result of which it will only be visiting two universities in the UK.

But heads of European graduate recruitment at two leading banks told us there's been absolutely no reduction in the number of universities they target. "Careers services are bound to say this kind of thing as a way of attracting applications to their university," says one. "We haven't cut back on the universities we target and - as far as I'm aware - neither have our peers."

"For larger banks this isn't an issue," insists the other.

AUTHORSarah Butcher

Global Editor

re
realperson
30 September 2011
it is not surprising that our country was sunk into financial ruin and despair when it is run by the self serving, self maintaining, selfish, narrow minded egotistical bankers (I said bankers) who have made these comments
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Wh
What?!
9 January 2011
Hi. I appreciate that there is probably (and, perhaps unfortunately,) bias toward reputable universities (particularly Oxbridge). However, as a student who was invited to interview - but not offered a place at - Oxford, and knows classmates who have recieved offers, I think it's unfair to suggest that people don't get into Oxford because they are not smart enough. After all, the decisions to pick applicants are being made by humans, and so there can be errors. I'm the first to admit that my LNAT probably let me down, but at least wherever I go, I know I'll work hard for a 1st. I know people who have been offered places at Oxbridge. Yes, they are bright. But sometimes their lack of work ethic makes me wonder whether the Oxbridge system of choosing prospective students is a little flawed. And yes, I probably would be saying this if I had be given an offer. The difference is, it wouldn't matter to me quite so much..
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Nick
1 April 2010
One of the major reasons why some of the best students' don't get into some of the so called better universities is their policy around foreign students - who could get in with lesser merits than their peers from home. And if this means that employees feel that they are getting a pick of the cherry - I regret to say that may not be the case - as these could have been rejected earlier due to the controversial selection polices some of the UK universities adhere to.
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An
Anonymous
25 March 2010
People the issue is not about hard work and talent. Indeed there may be a lot of talented people and hardworking at the same time but the ppoint for the investment banks is that when they recruit from top-tier university they kind of assume that you have already passed an initial assessment, as you all know that it is not easy to get into Oxford or IMPERIAL i.e. if you are talented why didnt you get in into Imperial or LSE
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Anon
3 July 2009
Guys I am studying BSc Economics at Nottingham and just finished my first year. My experience to date is 3 months full time work as an office junior, a spring 2 week internship at Bank BNI in London and I am currently doing a 8 week summer internship at a leading mid tier accounting firm. Would it be best if I stuck to accountancy or is it worth having a shot at banking?
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