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Good news for banking grads

22 Aug 2007

Good news for banking grads The future looks bright for students planning to go into investment banking.

A new survey by Financial News has revealed that global investment banks are hiring, on average, 13.5 per cent more graduates this year than last.

The bank with the biggest growth figure is Nomura - the firm's UK graduate intake is 52 per cent higher than last year.

The Bank of America and Goldman Sachs also displayed particularly healthy growth, with graduate levels rising by 33 per cent and 21 per cent respectively.

Certain other leading firms, including Morgan Stanley and Lehman Brothers, also expect to increase intake, but say exact numbers will be determined by the quality of the applications they receive.

Lucy Gregory, co-head of European graduate recruitment at Morgan Stanley, said: "We plan to take on more graduates this year than last, although we are finalising the numbers."

She also explained the importance of students taking part in banking internships, saying: "We run summer programmes in London for interns and longer graduate programmes, which last two or three years, both of which are paid competitively.

"Banks often ask candidates to complete an internship before offering them a job. Of those interns, only between 50 per cent and 60 per cent are offered permanent positions."

Ms Gregory concluded: "Summer internships are renowned for their hard work and long hours and a way for banks to 'sort the men from the boys'."

Are you looking to get ahead in finance? Find and apply for internships through our Internship Job Searchfacility, or broaden your horizons through the All Jobs Search.

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