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Indicators and counter-indicators that your chances of finding a new financial services job have increased
The bank holiday is over. The second half is approaching. And at last – a positive sign that financial services hiring is picking up: recruitment firm Astbury Marsden says London financial services vacancies rose 9% month on month in April. Last month, it estimates there were 3,455 new jobs ‘released’ in the City. What were [...]
Unsurprising survey suggests graduates have been accepting unappealing financial services jobs out of desperation
Given that front office jobs are hard to come by and there comes a point when you have to bite the bullet and accept a role in the back or middle office (eg. A job in operations or finance instead of M&A or trading), or maybe even a job in insurance, it may come as [...]
GUEST COMMENT: The final countdown to the CFA Programme June Examinations
(Or The Final Countdown (you have to hum the tune as you read this) 4 WEEKS TO GO… By now you should have finished your first reading of the CFA curriculum. If you haven’t then get a move on, time is ticking away. Make a plan for the critical phase that’s coming up: revision. There [...]
Should IT contractors start considering roles in retail banking?
Working as an IT contractor in an investment bank isn’t what it was – day rates have shrunk, contracts are getting shorter and there are fewer chances to move roles. Could retail banking offer some salvation? This may seem like a strange question, particularly as more development work is heading offshore within high street banks, [...]
Late Lunchtime Links: BNP just wants to get the remaining 40% of its job cuts over with so that it can look to the future
BNP is cutting 1,400 jobs at its investment bank. As we noted yesterday, around 300 of them are apparently being encouraged to take voluntary redundancy. We can only assume the rest are being commanded to leave involuntarily. BNP’s insomniac chief executive Jean-Laurent Bonnafe appeared on Bloomberg earlier to say that they’re actually only 60% of [...]
Only another 2,700 redundancies to go at RBS, which is now paying its investment bankers around half the global average
RBS has been busy purging itself of superfluous investment bankers. In the past three months, it’s got rid of 700 of them. In the past year, it’s got rid of 2,400. RBS Global Banking and Markets (GBM) is now leaner and meaner, but the purging isn’t over yet. In today’s quarterly results release, RBS reminded [...]
As Russian banks appear to falter in London, here’s what they appear to pay
For a while now, Russian banks’ international push has been the big story. As emerging markets boutique Riverhouse Partners notes in its latest newsletter, Chinese banks’ much awaited push has yet to materialise. Russian banks, however, have been going for it. Hence, Renaissance Capital has gone from having FSA 56 registered persons in London in [...]
Q&A: Mike Connarty, director of international investments at Standard Life, advocates learning Mandarin if you want to get ahead
Mike Connarty is based in Edinburgh but he’s an international figure in financial services. As director of international investments, Mike manages Standard Life’s fast-growing joint venture investments in India and China. If you want to work for him, you’ll need a genuinely international outlook – and ideally the capacity to speak Mandarin. Q: How long [...]
Fund management is a far more lucrative career than investment banking. And, fund managers are actually hiring
When it became apparent earlier this week that the highest paid director at Pimco Europe earned twice as much as Jamie Dimon for 2011, it raised a few eyebrows (or at least should have done). Suddenly, fund management appears far better remunerated than investment banking. Pimco’s high earner was not an exception. The company’s latest [...]
Late Lunchtime Links: A pictorial representation of where you do and don’t want to be working, business by business and bank by bank
Now that most banks have reported their first quarter results, it’s possible to get a handle on what’s going on, which business areas are doing well, which business areas within which banks are doing best, and which are doing badly. Research firm Tricumen has put together the following arrow-filled chart depicting what has been hot [...]
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