As confidence returns to the financial sector after the 2008 crash, the job opportunities for graduates are looking extremely positive this year.
“There is a huge appetite for junior talent so that we can develop and train our future leaders,” says recruitment head for Goldman Sachs in Europe, Sarah Harper. “We want to hire the best and the brightest people who are hungry, who want to learn and who are interested in our industry.”
Barclays are also following the same path as Goldman Sachs, offering a wide range of positions, from technical roles to investment banking.
Many banking companies have opened offices in cities outside of London. Lloyds Bank has shifted some of its operations to Bristol, Leeds and Edinburgh whilst HSBC is moving compliance and regulation work to Birmingham.
Companies are looking at recruiting graduates from a wider range of degree backgrounds. Candidates with degrees in economics, physics and also arts and humanities based subjects are to be considered in order for companies to find employees with good communication skills.
Banking firms have reconsidered their selection process to make sure new employees are fulfilled at work. Barclays have begun using video interviewing and ‘contextualised screening’ to attract and find the best young talent, regardless of their circumstances. They are looking to recruit not only graduates from top universities, but also strong candidates who have achieved in the context of their school and family background.
Barclays aim to attract more women and ethnic minorities to their company, and figures from last year look promising. 41 per cent of their graduate intake was female and 38 per cent came from ethnic minorities.
Salaries have also been increasing for graduates in the finance sector. The mid-range graduate salary for investment bankers is £47,000, a 4.4 per cent rise from last year. You can find out more about banking salaries here.
Overall, banking firms want to hire young people who are truly passionate about the industry and have the maturity and confidence to demonstrate this long-term. “You need to show some evidence – whether through an internship or an auxiliary course – that this is what you have wanted to do for a considerable time,” says Colin Loth, managing director for London and the South East at Robert Walters. “That will set you apart from the other candidates.”
If you’re looking for a banking role, check out all of the opportunities on our website here.