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Knock for grad finance jobs?

28 Aug 2007

Knock for grad finance jobs? Students planning on a career in the financial sector are advised to keep a close eye on the job market.

Experts have warned that as a result of the recent volatility of the international equity and credit markets, thousands of UK job cuts could be on the horizon.

Global stock markets are down on recent months and many of 2007's stock gains have been wiped out.

This, according to analysts, is largely due to the impact of the sub-prime lending crisis in the US - and UK graduates may be affected.

Jonathan Said, a senior economist at the Centre for Economics and Business Research, recently told the BBC: "We are looking at job losses across industries including hedge funds, private equity, investment banksÂ… those working in structured funds".

Although the full impact of the recent financial turbulence is yet to become clear, Mr Said explained, both bonuses and jobs themselves could be hit hard.

He said that "roughly, in the next six months, we predict up to 5,000 job cuts across banks, private equity firms, hedge funds, stockbrokers and other financial groups as they try to cut their losses".

Mr Said's comments contradict other recent predictions which have emphasised the good health of the financial services sector.

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

Are you looking for a reliable graduate job? Find and apply for graduate jobs through our Graduate Job Search facility, or broaden your horizons through the All Jobs Search.

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