UK
Tag: Middle Office
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 [...]
GUEST COMMENT: The farce that was bonus-day in the back office
When banking was booming and bonuses were big, there was a very healthy trickle of bonus money down to the back office. Sadly, this is not so now. I can personally testify that in the back office, the bonus trickle has dwindled to an intermittent drip and promotions are rarer than hen’s teeth. Come this [...]
JPMorgan has issued an unprecedented amount of information on the small proportion of its investment bankers who genuinely generate its revenues
JPMorgan’s Jes Staley made an investor presentation today. In it, he revealed that – despite being one of the most successful investment banks, and one of the only investment banks to have increased compensation per head since 2007, JPMorgan’s middle and back office professionals far, far, outweigh its revenue generators. Hence, JPMorgan’s investment bank has: 2,500 [...]
GUEST COMMENT: I am coming to love my life in the middle office
There was a time when I wanted to be a trader. Ok, so I do still want to be a trader a little bit. However, I am currently working in a middle office credit role and I would like to make one thing very clear: this is an interested role. Working in the middle office, [...]
GUEST COMMENT: It’s time to get realistic and apply for the job in the back office
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 [...]
The average person working in an operations role in an investment bank expects to earn £90k
Following on from this morning’s revelation that median graduate salaries in investment banks are £45k, we can now divulge that the average ‘operations & middle office’ professional in the average investment bank is expecting to earn £90k for 2011. Specifically, they’re expecting: £75k in base; £15k in bonus. At least this is what’s predicted by [...]
Could it be construed as inappropriate and unhelpful to target black students for back office roles?
Last time we published something questioning why there seem to be so many ethnic minorities working in non-front office jobs in investment banks, we were met with a deluge of comments, including some saying that racism is “institutionalized” in investment banks and that racial stereotyping is more profound in the UK than elsewhere. In this [...]
If you can’t get a job in the front office, should you apply for a job in operations?
The general verdict is… Yes – if you’ve given up on working in the front office for ever and have suddenly seen the virtues of working in operations. No – if you want to work in the front office and see a job in operations as a stepping stone to becoming a trader or corporate [...]
Here are the banks where hiring freezes aren’t completely effective
As far as we were concerned, most banks have hiring freezes; even in the back and middle offices no one much was being recruited. Apparently not. Recruiters tell us some banks have lifted their freezes a little. Others are claiming to have a hiring freeze, but have multiple roles to fill before the New Year. [...]
Can you use a Cass MBA to go from a middle office role in a bank to trading in a hedge fund?
When we wrote an article about MBAs this week, we received an enlightening comment from someone purporting to be a former student of Cass Business school. This (anonymous) person, claimed they used their MBA to transition from a middle office job in a US investment bank to a trading job in a hedge fund. It [...]
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