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Figures from the Securities & Investment Institute (SII) released today suggest that investment banks have learnt their lesson from 2003/4 downturn and whilst currently retrenching, they are nevertheless, keeping their graduate recruitment pipeline open.
In analysing the examination entries from twenty top investment banks, it is clear that graduate recruitment is running at 94% of the 2007 level, which was itself a significant increase on 2006.
Whilst there is little difference in the recruitment levels between US and non-US banks (down 4% and 8% respectively) there is a surprising modest rise in the graduate intake amongst banks based in the City of London, offset by a corresponding fall elsewhere.
SII, the professional body for those working in the securities and investment industry, obtains the statistics annually from firms who enter their graduates for SII examinations. The examinations which the graduates are booked to sit by these firms are mainly geared towards a focus on advisory roles within the wholesale financial services industry.
Simon Culhane, Chief Executive of SII, said, “This is encouraging news as it demonstrates that banks are looking to the longer term and confirms the importance that they place on seeking highly skilled new recruits to their firms.”
