Financial services graduate recruitment halved, but hiring up at top universities
If you were wondering why it's been so hard to get a graduate position in financial services this year, the Securities and Investment Institute has the answer.
According to an SII survey of 100 'financial services players', 57% of them have cut graduate recruitment by half this year compared to 2008. A further 14% said they're recruiting fewer graduates than before.
However, the dearth of opportunities doesn't seem to be affecting the country's top universities.
Representatives of the careers services at institutions like the London School of Economics and Cambridge University, tell us there have been more financial services jobs advertised to their students this year than last year.
However, they aren't keen to advertise this fact.
"Our students have the choice of more jobs across the board - not just in financial services," says one. "But if we mention this to the press they'll just talk about elitism."
Privately, they say that the calibre of their students plays a part ("They're well prepared - a lot have done first and second year internships and have traded in their spare time.")
They also point to the fact that budget-constrained banks are only visiting key universities. And to the fact that as careers services they proactively seek out opportunities: "We're not just sitting here waiting for jobs to come in, we're phoning alumni and asking them to take our students on."
