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Despite some negative news still lingering in the graduate job market, there are still indications that the number of financial graduate jobs in London and the rest of the UK is still increasing. And, this encouraging news on the amount of graduate vacancies in banking that will be made available this year is coming from the big banks themselves.
The Royal Bank of Scotland, one of the big losers of the economic downturn, has said that in 2010 it will take on over double the number of graduates that in did last year. With just short of an expected 600 graduate jobs available this year, they are even ahead of their average pre-crisis graduate recruitment levels.
Citibank are looking to offer 330 graduates jobs and internships around the world in 2010. That is around 50 more graduate placements than last year.
Barclays have also stated that the number of graduate jobs in London and elsewhere across their various companies will increase by about a fifth this year. Indeed, graduate recruitment levels at Barclays seem to have been largely unaffected throughout the recession.
Swiss banking group UBS are also expecting to get graduate job recruitment levels back up to the levels of a few years back.
Basic pay has also been increased at many of the big banks as an incentive to graduates to enter the financial services sector. A managing director can now expect a basic salary of as much as £300,000. However, this increase will be offset by a reduction in bonuses in the banking sector in future years.
Professor Andrew Clare, from Cass Business School in London, commented on the banking graduate job news that, "In 2007, when the financial crisis started, I thought maybe people would be put off from studying finance. But I was totally wrong. If you're 22 or 23, you're thinking long-term. I'm sure money is a motivating force. But this is an interesting, dynamic industry and that's the primary attraction."
If you are looking for graduate jobs in London in the banking sector then let E4S help you with your search. We have a regularly updated listing of graduate jobs in the financial sector – and indeed all other sectors across the UK.
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