Tag: Front Office
Bankers at both Barclays and Royal Bank of Scotland are living under clouds cooked up by their senior managers. In February 2014, the chief executives of both banks are due to make presentations on their plans for the future. Neither presentation is expected to be especially favourable for their investment bankers. Strategic uncertainty isn’t the […]
“I’ve always been interested in financial markets, but like a lot of people I was slow to appreciate the careers on offer in the industry. I only became aware of investment banks in my second year at university, and then I only secured an internship in the back office of a blue-chip firm. Having spent […]
Just because you work in an investment banking advisory position, doesn’t mean you’re a rain-maker. Clawing your way up the career ladder is one thing, but are you really a stellar deal-maker who can blow the competition away? If you’re doubting your abilities, Horacio Falcao may be a good man to speak to. He’s affiliate […]
Diary of a back office intern: 75% of front office interns got an offer, and 100% of the back office
It’s all over and the results are in. As you might recall from one of my previous entries, the vast majority of MO & BO interns were going to try and make the move into a FO role. No one succeeded.
It’s a weird observation to make, but people keep getting me mixed up with one of the two other Johns that sit in my immediate area, with my neighbour James experiencing similar confusion. I decided to run a check of our staff database and found that the two names together account for over 5% of UK employees.
I’ve been looking forward to week four for a while. Why? Pay day. As superficial as it may sound, it’s the primary reason anybody works in a bank. It’s the biggest enticer into the City and remains the one of the biggest features of it. Interns are paid an analyst’s base salary plus a one-off living grant. The salary, in corporate finance at least, appears to be almost identical across banks and hasn’t changed for a number of years. [...]
My sympathies lie with my ‘Diary of an IBD Intern’ counterpart this week, as well as my front office friends in the intern pool. I haven’t really stayed in the office past about 5.20 pm so far, but that seems to be the norm for my department when not rolling out a new product. The long hours aren’t routinely part of the culture or requirements for the back office because we don’t suffer the same market sensitivities, having internally set deadlines and structuring our work to meet them.
If you’re a student who wants to be a trader, but you still haven’t found a place on an investment bank’s graduate or internship trader training programme and are therefore resigned to working in the middle or back office (ie.Compliance and risk, operations, or finance), the Guardian’s latest anonymous banker interview may prove a little […]
Back in the day, if you failed to get into a front office investment banking job (in this case corporate finance or equity research) as a fresh graduate, you still had options. The best one was to join a Big Four Accounting firm and to gain an ACA qualification. Thereafter, as long as you had […]
Let’s face it: banking has lost its shine. Under the searing heat of the sovereign debt crisis, bonus pools have become puddles and we are all at risk of redundancy. Throw in the constant banker-baiting in the press and it’s hard to see where the appeal lies. It’s curious therefore, that so many young people […]