Most would-be bankers in Australia plan to work overseas if they can.
This is the finding of a recent survey by graduate research company Universum, who asked Australia’s finance graduates what they wanted from a career. They found 47% of women and 51% of men plan to make a swift exit and work overseas.
They’re also keen on having a life outside work – not something banks are traditionally strong on. 60% of women specified work/life balance as their number one career goal three years into a job.
Caan Krsztew-Ivanow, a consultant at recruitment firm Graeme Jones, confirms that most junior bankers are keen to quit Sydney or Melbourne for alternative global financial centres. He also says the youth of today are willing to work very long hours – as long as the pay is proportionate.
Unfortunately, their aspirations may be a little unrealistic: “Gen Y want the baby-boomers’ jobs now, without going through Gen X jobs to get them. I seek a fund manager with 20 years experience, and get fresh graduates applying. They are impatient, and do not know any market but a bull market,” says Caan.