If you lose your job in banking, you may need to resign yourself to running a delicatessen, or a fish farm or a microbrewery or a custom-fit condom company, because you probably won’t get another job in the City of London.
Our research suggests that only 31% of the registered bankers in the City of London who’ve left their jobs this year have turned up in new registered roles elsewhere in the UK. The other 69% are either working in non-registered roles, have left the country, are doing something completely different, or are still trying to get back in.
Interestingly, the rate of re-employment in UK registered finance roles varies from bank to bank. We’ve added a league table of the most and least employable bankers by institution below. Nomura bankers have been most successful at finding new roles, followed closely by bankers from UBS. Unexpectedly, JPMorgan and Goldman Sachs ex-bankers appear to be among the least appealing. Alternatively, they may have made so much money that they don’t really need to find new jobs at other FCA Registered firms in the City anyway.
Re-employment rate by bank in the UK, January-November 2013:
Nomura International: 46%
UBS AG: 44%
Credit Suisse Securities Europe: 39%
Banc of America Securities*: 35%
Royal Bank of Scotland PLC: 34%
Morgan Stanley International: 30%
Merrill Lynch International*: 28%
Goldman Sachs International: 26%
Barclays Capital: 25%
JPMorgan Securities: 22%
* There may be movement between these two firms.