Finance jobs in the not-for-profit sector? May 1, 2013Posted by annedelauzun in : Finance, Not for Profit, Third Sector, Uncategorized, Voluntary work , add a comment
Top 5 essential resources for Finance careers March 18, 2013Posted by Andrew Falconer in : Finance & IT, Industry Focus, diversity, employability and skills , add a comment
City, or Financial Services Sector, careers seem to attract a lot of graduates each year. Often it is the impression of the work-hard-play-hard culture, the excitement of taking risks and being responsible for large accounts. But behind that testosterone inspired perception, life in the sector is incredibly varied with opportunities within lots of different work cultures. Working out where you might fit and building sufficient knowledge about the industry takes a little bit of research….
Working out where you will fit in the sector is fundamental to your application success. From Investment Banks to Re-Insurance, Professional Services to Regulation and a myriad of different roles in-between, the sector covers it all. The Directions careers website gives a detailed insight into different careers, broken down by function and professional interest. This should help you think about what excites you and where your skills we be best utilised. Not in our Top 5 but the Bloomberg BAT test is often available through your university careers service and can be effective at helping you understanding your abilities.
2. Careers Tagged
The online careers resource from The Careers Group has harnessed the best of the web to help you develop your research. One you have identified roles from the Directions website, Careers Tagged will give you access to the associated Professional Bodies, employers, qualifications, live jobs, relevant blogs and countless other resources. Use it to develop your knowledge not just of the sector and employers but the professional roles involved.
3. E-financial Careers
A stunning site with global regional variations, e-Financial Careers is essential reading for any aspiring City worker. In addition to its jobs site, it has an extensive news and advice section which gives an overview of the financial services jobs market. The site also provides financial and business analysis to help you understand what is going on the the financial markets. Whilst not in our Top 5, JobOnline has many internship and graduate opportunities in finance.
4. Instructus Markets
The fortnightly email from Instructus Markets gives candidates detailed information about recent trends, asks and answers financial competency questions and gives suggestions of forthcoming hot-topics. The level of information is hard to collate from other sources – making an ideal digest. However it does cost £5/month but with no minimum subscription.
OK I am cheating here because there is no single resource but financial institutions are often aware that their staff are often from a narrow social background. There are several programmes, supported by the sector, that aim to create greater diversity in the City’s workforce. SEO London provides internship opportunities for ethnic minority students across a range of professions. Whilst not finance industry specific, the Diversity Careers Show includes City employers seeking more LGBT employees. Women in Business & Finance is a professional organisation that encourages the development of women’s careers in the sector.
And a special one exclusive to students in the University of London:
6. The City Course
Reading around the financial services sector is vital, but getting a chance to visit corporate offices, undertake case studies and network with employers can really set you apart. The City Course is a five day non-residential event exclusive to students attending colleges served by The Careers Group. There are limited places and applications must be received by Friday June 21 2013. You can also follow them on facebook.
Peeping inside the City February 11, 2013Posted by Andrew Falconer in : Finance & IT, Selection Process , add a comment
For a unique, insider’s perspective on a career in the financial services sector, come on our long-running and successful City Course. During the week you will visit prominent City employers and institutions. You will participate in employer-led business games and listen to presentations and graduate panels about the range of City careers.
At each employer visit you will get the opportunity to meet and network with recent graduates working within the firm, representatives from the graduate recruitment teams and sometimes more senior employees. You’ll start early, work hard, and come away with a detailed understanding of how the City works.
The programme covers investment banking, management consultancy, accountancy, commercial law, risk management, and more.
Organisations last year included:
- Financial Services Authority
- Slaughter and May
- Standard Chartered
- Institute of Chartered Accountants in England and Wales
- Bank of England
- Barclays Capital
Please note: Applications are due in before the summer vacation even though the event is in September. Due to the high volume of applications received for this course, we are unable to acknowledge receipt.
An example of a typical day:
Morning: Visit the Financial Services Authority in Canary Wharf where you will get the chance to take part in a business game, listen to a panel of graduates talk about their experiences working in the City and network with current FSA employees over lunch.
Afternoon: Visit Accenture’s offices near the Old Bailey. Listen to a presentation by Accenture employees about what is involved in Management Consultancy followed by a business simulation game in smaller groups.
Comments from previous students on the course… “I thoroughly enjoyed the whole experience. I made a lot of friends, developed my skills and got a great insight into a wide variety of careers.” “The course has helped cement decisions on the areas I may want to go in to.” “Extremely informative. It’s opened my eyes to different companies and industries I haven’t considered before.”
Join us on Facebook where you’ll receive updates, take part in discussions, and ask us your questions. Share the event with your friends and anyone who you think will be interested in applying to this course: www.facebook.com/CareersintheCity
London Stock Exchange Group: Graduate Programme September 17, 2012Posted by UCL Careers Service in : Finance, Finance & IT, Industry Focus, Selection Process, The Careers Group Blogs , add a comment
Originally posted at UCL Careers Service Blog
By Jeff Riley , UCL Careers Service. It can take new graduate recruitment programmes a little while to establish themselves on my radar. Sure, I know formally that schemes may be advertised on JobOnline or Target Jobs and have what I think is a reasonable idea of what schemes may involve. Until I meet employers face to face though, programmes never become tangible for me. For example, this morning I visited London Stock Exchange Group who have been running a graduate training programme since 2010 and internship scheme since 2011. Even before I’d got inside the building I’d learnt one very important thing
- It’s not London Stock Exchange BUT London Stock Exchange Group. This is important because it means that it’s more than a stock exchange. The Group provides financial services infrastructure not just to London but also, for example, to Italy through Borsa Italiana (the Italian Stock Exchange) and via the eight international offices of FTSE in places like the USA. Incidentally, they also have a software and technology business called Millennium IT which is based in Sri Lanka. As the business develops, so do opportunities for graduates including the chance to work overseas in Milan or Rome.
I met up with Nishe Patel who is responsible for recruiting the next intake of graduates (closing date of December 7th), and managing the programme. Here are some key messages
- The scheme is evolving but right now you can sign up for the programme and you would apply for your fixed position towards the end of your programme, which is fully supported by the business.
- As part of the programme you could complete assignments in
- Capital Markets – Primary or Secondary
- Corporate Functions –Human Resources, Marketing, Legal, Regulation, Public Affairs, Regulatory Strategy, Finance, Audit and Risk
- Information Services – Provides market data to support decision-making and risk management.
- Post Trade – once a trade has been made this ‘back office’ function ensures that everything happens smoothly and with minimal risk
- Technology – the entire market depends on technology and this continually needs to develop to provide the best services for clients.
Now it became pretty quickly clear that this is a complex operation with its own language but not impenetrable. Nishe was easily able to distinguish, for example, the primary and secondary capital markets. Primary is the arena for companies new to the stock exchange such as the recently listed film studio company Pinewood Shepperton. Secondary is the market for previously issued financial instruments such as stock, bonds, options, and futures.
These different sectors recruit graduates following the programme into specific roles. Graduates who completed their programme in 2012 have joined positions in Strategy, Equities and Derivatives Markets, Information Services, Legal, Primary Markets etc. The roles vary from developing key business strategies for the next few years to developing key products that would be valuable to clients whilst managing the relationship with them. One thing Nishe is especially keen on is that applicants should be flexible and adaptable. “Applicants cannot be expected to know which department or role they want to work in until they have some experience. They may want to go into business development eventually and as we know that this role depends on being able to build great relationships, a spell in Human Resources could be really good for developing that skill
- What you will need.�
- Formally a 2.1 honours degree and 300 UCAS points from your top 3 A levels.
- Lots of different degree subjects considered. “To be honest”, says Nishe, “we get a lot of applications from business and economics students. These are very welcome and we do recruit individuals with this background. What we would like to see are more applications from science and technical subjects. Things like physics, mathematics, and computer science”.
- The right motivation. It won’t matter how able you are if you aren’t clear why you want to work at London Stock Exchange Group. “It’s no good saying things like ‘because it’s at the heart of the financial community’ or ‘because it’s an international organisation.’”, says Nishe, “We need to know why those things matter to you.”
Find out more via
* An open evening – taking place on November 21st
Finance Industry Insight: what is interdealer broking? April 2, 2012Posted by Kirsti Burton in : Finance, Finance & IT, The Careers Group Blogs, city jobs , 2comments
Originally posted at QM Jobs Blog
In careeers you get to find out about new areas of work and new job titles all the time. These come about because of the way industry has to respond to the rapidly changing world. A friend of mine is a Social Media Monitoring Officer. These jobs didn’t exist a few years ago! Sometimes it can be hard to find out about what particular or specialist job involves, because there is so little information out there. One question we had recently was about interdealer broking. This is what we found out:
Interdealer broking is about bringing buyers and sellers together to execute a transaction. In this field there are two kinds of broking: electronic broking and voice broking (human brokers). With the electronic broking the most common deals are FX-transactions ? these are foreign exchange transactions. It?s easy to buy and sell on the FX market. For more complex products, you need a person to negotiate before an agreed transaction can be reached. In these instances voice broking is used. For example, if two banks were to trade with each other the interdealer voice broker would transact the bond based on instructions receive from the traders at each of the banks.
Due to the recent financial crises there is a lot of new legislation around transparency, which the industry will have to adapt to, as well as greater obligation to transact through electronic mediums. Technology evolving rapidly also means that the broking industry has to constantly adapt.
The journalist’s journalist December 27, 2011Posted by Andrew Falconer in : city jobs, entrepreneurship, further study and training , add a comment
Royal Holloway Physics alumnus Andrew Michael is perhaps the journalistic equivalent of a B2B manager. He is the editor of HeadlineMoney.co.uk, a website used by over 1500 financial journalists in the UK. The work he does is targeted at well known journalists that we read on a daily basis. However he has worked in various journalistic capacities in order to become editor of HeadlineMoney.
Journalism can be a fascinating career choice as Andrew has demonstrated. You do not necessarily need to do a masters to get into the profession – there are a range of courses, including the NTCJ, that can be an alternative route. There are also courses available that may have amazing marketing but may not deliver in education or outcome – so be wary consumers.
Andrew spoke at Royal Holloway’s Creative Careers event in March this year, where he shared his thoughts on the industry and gave tips on how to progress in it.
Financial Alternatives October 6, 2011Posted by Andrew Falconer in : The Careers Group, Uncategorized, city jobs , add a comment
During the autumn term careers advisers frequently meet students who say they want to work in finance or “the city”. When probed, the students tend not to know what they wish to do or what options there are. Often a career in the financial sector is seen as glamorous but there is a huge difference between an executive assistant and a trader. So how do you know where you might fit in?
Financial Alternatives is your opportunity to explore. With a small group of other students, you will have a few minutes with each professional. They will tell you about their job and how they got there then you can ask them your own questions. It runs on October 20 in Senate House, Malet Street, London. You can find details and register to attend.
Other useful resources include the wonderful Directions High Street mini-site from the Financial Services Skills Council. This site not only looks good but provides real substance about the different areas that might be of interest. There are job profiles, hints about applying for positions and an understanding of where all these functions fit together.
Catherine Sweet, CEO of 4-CS, talks to students each year about careers in the financial sector. She has considerable experience working for high profile institutions, including the London Stock Exchange, and always gives great insight into how the financial sector works.
There are of course other criteria to consider. Working in the financial sector can provide so many opportunities. Your career path is unlikely to be linear and with each job you’ll see further opportunities that interest you. But some basics to think about include money and material reward (not all jobs in the sector are as rewarding as students like to think), work-life balance (do you want to have a life beyond work?), preference for client-facing or back office, status, type of work done.
Use events like Financial Alternatives to consider these criteria and build an understanding of the sector. These events are also very useful for mentioning the contacts you met when you complete your application forms. Employers appreciate students that have made the effort to attend these events as evidence of consideration of career interests.
You can also follow the latest information about working in the financial sector and keep up to date with relevant events and opportunities on our Careers in the City facebook page.
Search for the latest jobs and internships in the financial sector on JobOnline.
podcasts , add a comment
Not all companies produce podcasts, but you might be surprised by how many do. These are definitely worth seeking out as you can get a feel for the people who work in the companies, the arguments they use, the attitudes they hold. It is more personal than reading a website. And with some companies who update regularly, you can find out their latest thinking in a more digestible form than reading a full report.
Here are some company podcasts I found, either by searching a company website, googling, or by searching the podcasts section of the iTunes store.
Deloitte Insights podcasts – the Global insights podcast is good, and there are a number of country-specific Insights podcasts available too
Credit Suisse podcasts - includes Economy & Finance and Global Investor
Aon – Insurance, Pensions and Consulting – about the Aon graduate scheme
J.P. Morgan Asset Management Insights – for a focus on investment
Accenture podcasts – Business and Tech – a range of series available here including financial services, information management, management consultancy and systems. From a quick search it looks like there are more podcasts available in different specialist areas of the site.
Deutsche Bank RSS & podcasts – headlines and press releases
McKinsey Global Institute – audio articles
podcasts , add a comment
****Be aware this content is over two years old****
If you have a bit of spare travel time on your way to uni or work, why not give these podcasts a go to develop your commercial awareness – essential for interviews. I regularly listen to these ones and subscribe to them via iTunes so I can vouch for their quality!
Listen to Lucy – Lucy is the FT’s management columnist, and in snappy five minute podcasts she pulls apart assumptions about management and career planning – through-provoking and entertaining.
Martin Wolf – the FT’s chief economics commentator, reads his weekly column
Wake up to Money – daily business and financial news from the BBC. Also available every weekday morning on BBC Radio 5 live at 5.30am…
Careers in the City – Choosing a Career in the City – a top speaker from our City Course, Catherine Sweet, gives great insight into career choice.
The Bottom Line with Evan Davis – weekly interviews with influential business leaders.
Planet Money – (my favourite) – explores economic theory in a hands-on approach featuring plenty of real-life stories. It is US-based, but discusses global trends and relevant stories to us in the UK. What causes inflation? Why do people buy gold? What is a mortgage bond and a toxic asset?
Business Weekly – BBC World Service podcast looking at current hot topics in business, management and economics.
Bloomberg – range of podcast series on news, economics, politics and the market
TEDtalks – not limited to business, but these podcasts are worth attention as examples of great presentation skills. TED has a reputation for hosting outstanding, inspiring talks.
Do you have any favourites you’d add to the list?
Show me the money! October 20, 2010Posted by Helen Curry in : Uncategorized , 4comments
****Be aware that this content is over two years old****
Money isn’t everything, right? But when you have student debts and big plans for your future life, you need to know how that graduate job is likely to pan out. So how do you find the figures?
The most useful, quickly accessed source is Prospects. You can look up the jobs you are considering and see the Salary and Conditions link for details of average starting salaries, alongside an idea of what you can earn in the longer-term with experience. Mm £35,000 – £50,000 starting salary for a financial trader? No surprises there then…
If you haven’t yet settled on a career choice and are curious about what people from your particular course went on to do, you can request that information from your university – try your course administrator or careers service. UK universities all must gather Destinations of Leavers from Higher Education (DLHE) data on the employment of their graduates 6 months after graduation, so they should be able to provide you with some anonymised figures (graduates’ identities are carefully protected).
If you have chosen a career or two to research, for more specific details of salaries look to the relevant professional bodies as they often gather information on the salaries of their members. For example CILIP, the organisation for librarians, gives salary guidelines for information professionals by a range of sectors as well as years of experience. Not all organisations will put this information on their website, but they may still have a report they can send you if you drop them an email. See this listing to identify relevant professional associations.
And if you are up for a bit of research, a great way to get a more accurate impression of what you will earn is by looking at job ads in the sector, location and roles that appeal. Even if you are not there yet, you can estimate how long it might take you to get the requisite experience and qualifications. Find sector-specific and professional online jobs boards here.
Finally, for very general figures you might try the Office for National Statistics Annual Survey of Hours and Earnings (ASHE). They can give you an overview of average salaries in different sectors and different regions, broken down by full-time and part-time workers, male and female. The main disadvantage however, apart from the basic presentation, is the lack of distinction between graduates and non-graduates, and a lack of breakdown by age for sector-specific information. Still you might be interested to find that:
The average UK salary for 22-29 year-olds is £20,962.
For men aged 22-29: £23,460
For women aged 22-29: £18,508
And then there are a host of other more specialised sources – got any useful tips to share?