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University leavers looking for graduate jobs in London could be interested to hear that now is a good time to start out in banking, it has been claimed.

In an interview with Cherwell, one recent Lehman Brothers recruit said that because of redundancies higher up the career ladder new recruits are likely to be afforded more responsibility.

The unnamed employee commented: "Banks don't want to lose juniors as they are the future of the company, but sometimes it's the only way to cut costs."

She added now was an interesting time to be in the sector despite increased competition.

However, according to Cherwell, the global downturn has caused the graduate market to contract over the past few months with Data Services claiming graduate positions have reduced by 14.7 per cent this year.

In related news, the downturn has not impacted on recruitment in the renewable sector, which is currently under skilled.

According to the British Wind Energy Association (BWEA), wind power sector grew by 35 per cent between 2002 and 2007 and is expected to provide 57,000 new jobs by 2020.

To find and apply for the latest graduate IT jobs in London see our dedicated London IT graduate jobs section.