This section of the website is designed to provide you with more
specific information about developing a career in the city, banking
and financial sector.
Just starting out? Take a look at the Overview section for
information on the sorts of careers available, the job roles and
the work that they entail.
Overview
The financial services and banking industry is a key area of
recruitment in the UK. The majority of positions are available in
the City which includes the square mile and Canary Wharf. There are
thriving financial districts in other large cities too, such as
Manchester, Leeds, Bristol, Edinburgh, Glasgow and Cardiff.
Over the past thirty years the City of London has emerged as the
most influential financial centre in Europe and there are now over
500 banks and related companies. Whilst challenging and
competitive, the variety of roles and the rewards available ensure
that City employers receive many applications from talented
graduates.
The finance sector enjoyed considerable growth over the past few
years, but the current economic downturn has hit hard, resulting in
lower pay and less jobs available.Competition for jobs in finance
and banking is therefore fiercer than ever. That said, graduates in
this sector still earn some of the highest starting salaries and
receive additional perks - but often in return for notoriously long
working hours.
Whilst employers look for graduates from a range of disciplines
there is no denying that applicants need to demonstrate a solid
understanding of the industry and the products traded as well as an
aptitude for finance work. In an increasingly globalised sector
language skills are a distinct advantage and those who work for
international firms will often have opportunities to work
abroad.
There are specialist investment banks such as Goldman Sachs,
Rothschild and Morgan Stanley and ‘universal’ banks (with retail
banking as well as investment and often private banking divisions)
including Citigroup, Barclays, HSBC and UBS. There are also a
number of boutique firms offering a smaller number of products and
services with specialized advice.
It is important to keep in mind that each bank will have a
strength in a particular area (e.g. Goldman’s dominance in
propriety trading verses Deutsche Bank’s strength in foreign
exchange).
Firms who have large fund management divisions include Allianz,
Fidelity, State Street and AXA.
There are numerous smaller Hedge Funds operating in Europe,
however some of the larger firms include; Brevan Howard, Cheyne
Capital and BlueBay Asset Management.
US firms dominate the private equity market with the major firms
such as Kohlberg Kravis Roberts, The Blackstone Group and the
Carlyle Group.
The majority of medium to large banks and investment firms have
graduate and internship schemes.
Job roles
Whilst challenging and competitive, the variety of roles and the
rewards available within the financial services and banking
industry ensure that employers receive many applications from
talented graduates. Competition for jobs in finance and banking has
never been fiercer and whilst employers look for graduates from a
range of disciplines, there is no denying that applicants need to
demonstrate a solid understanding of the industry and the products
traded, as well as an aptitude for finance work.
- Investment banking and investment
management
- Financial services and banking
Studying at BPP
BPP Business School offers a range of finance courses that can
help develop your career path. To find out more about
the Financial qualifications available, please click here.