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Graduates 'turn their backs on banking'

31 Oct 2008

Graduates 'turn their backs on banking' Students looking for graduate jobs in London are turning their back on the banking sector, it has been claimed.

The credit crunch has resulted in interest in graduate banking positions being cut in half, according to new research by Milkround.

Management consultancy and accountancy have emerged as popular alternatives, the study states.

Mike Barnard, a spokesperson for the firm, said: "These figures just go to show the extent to which the confidence of working in the banking and finance sector has been shaken."

He added that the banking sector "could struggle to fill their vacancies - particularly at graduate level".

Mr Barnard also claimed that graduates need to keep a close eye on their finances and not be over ambitious in terms of getting out of debt or buying a house.

In related news, investment bank Goldman Sachs has played down proposed job cuts.

The firm is expected to cut ten per cent of its global workforce.

Meanwhile, according to the Times, the investment bank has just promoted 94 members of staff to the position of partner.

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