Starting out in Barclays’ investment bank at a time when it’s in the midst of cutting thousands of jobs may seem like something of a risk. However, while Barclays has been making redundancies at the senior end, it has remained committed to hiring junior bankers.
Some of the class of 2014 has just been given the green light by the Financial Conduct Authority in the UK. We’ve profiled new analysts at large US investment banks – including Goldman Sachs, J.P. Morgan and Citigroup in the past – so how does Barclays compare? And what do these new analysts say about what you need to successfully obtain an investment banking job now?
Sarah-Anne’s investment banking experience has been gained solely at Barclays. She participated in a month’s insight in September 2013 and followed this up with a summer internship within the Barclays’ BARX e-FX division last year before gaining her current position. She has a degree in Chemistry and Maths from the University of Nottingham, as well as attaining 10 A*s at GCSE and four As at A-level within maths and sciences. She spent a lot of university in ‘normal’ part-time retail and bar jobs, but takes part in long-distance running and charity fundraising events, two extracurricular activities that go down well with banks’ recruiters.
Andrea did not work at Barclays before gaining his current position, but does have prior investment banking experience focused on the debt capital markets divisions. What’s more this experience is international – he spent three months as a summer intern at Banca IMI in New York and then seven months from March to September last year at Mediobanca in London. Andrea has a BBA in Economics and Finance from Bocconi University as well as a Masters in Finance from the same university.
Francesco rotated between Barclays’ DCM team and risk solutions group during a summer internship last year, suggesting he received a full time offer into the division he now works. He also has internship experience within Credit Agricole’s investment bank in Italy and within Italian export credit agency SACE’s underwriting team. Again he has both a BBA and Masters in Finance from Bocconi.
Nans is among the increasing number of university students who complete the CFA level I exams alongside their degree studies. A graduate of both the Université Paris Dauphine and EDHEC Business School’s finance MSc, he also has extensive internship experience. Nans worked for a year on the rotational internship at BNP Paribas, as well as undertaking summer internships at HSBC and Barclays.
Julia speaks four languages – English, Finnish, Russian and French – and has knowledge of physics, computer programming languages and derivatives, suggesting a highly-quantitative background. She interned at Barclays the summer before securing a full-time job, but that is the limit of her prior investment banking experience. She also interned at HCL Technology and the Institute of Physics. She has a Masters of Science in Physics from Royal Holloway University of London.
Marie also attended Université Paris Dauphine and has a number of highly quantitative degrees under her belt. She completed an undergraduate degree in Economics and Management there before starting the Master in Finance and then the university’s Master 225 in corporate finance and financial engineering. This is obviously good preparation for the practicalities of an investment banking job, but Marie also did three internships – at UBS, Credit Agricole and private equity firm Pragma Capital – before interning in Barclays’ IBD that eventually led to the full-time job.
Matt attended the University of Bristol (a favourite of investment banks) and has a quantitative degree in Civil Engineering – another plus point. However, the ‘team-working’ extra-curricular activities will have secured some points with graduate recruiters. He was president and captain of the university’s hockey club (and before that fund-raising secretary) as well as social secretary of the university union – positions which both show leadership skills. Before a summer internship with both the M&A and FIG advisory teams at Barclays last year, his banking experience was comparatively limited – internships at Insignia Wealth and Lloyds Commercial Banking.
Andrea is another Bocconi graduate. He is covering the Italian markets for macro sales. Like Francesco, he has a Masters in Finance degree from Bocconi, but he has surprisingly little direct banking experience. He interned in the rates sales business last summer and received a full-time offer.
Theodore is the only London School of Economics graduate on the list, surprising when it is the top university globally for getting a banking job. He undertook the ‘general course’ as a Masters following a BS in Mathematics from University of Wisconsin-Madison. Before his summer internship in Barclays’ markets business this summer, his only internship experience was as a trading assistant at the Chicago Trading Company.