Investment Bank Graduates Performing Like Over – Prepared Robots According to S&IR
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Graduates looking for a career in investment banking are letting themselves down at the interview stage, according to the Securities & Investment Review (S&IR).
An article in S&IR, the membership magazine of the 16,000 strong Securities and Investment Institute (SII), examines how to break into the investment industry. It cites feedback from The Cornell Partnership, a recruitment consultancy that conducts intern and graduate interviews for investment banks.
Julie Barber, director of The Cornell Partnership, goes on to say: “It is important for you to be on your toes at an interview. You have to have the fire in your belly to do your own research and know why you are there. Nothing beats self-motivation.”However, she also outlines the perils of over-rehearsal and says “We have had feedback in the past from clients that the aspiring recruits are too well prepared, to the point of being robotic. I have had people virtually recite a client’s website to me on interview and it doesn”t work.”
Working in the Sunshine
This is where the importance of doing summer placements or internships comes into play. S & IR emphasizes on this and calls such schemes “Spring Weeks” or “Spring Insight Programmes,” which offer a chance to get to know a prospective employer. The magazine advises graduates that if “you are in your final year and you have been too busy studying and enjoying student life to apply for any internships or work experience, you need to get your skates on if you want to be considered by an investment bank.”
The SII is now the pre-eminent professional body for those who work in the securities and investment industry in the UK. More than 16,000 members benefit from a programme of professional training and development. The Institute is the principal awarding body for industry qualifications and last year its examinations attracted 35,000 candidates.
The Sooner, The Better
The S&IR magazine also quotes SallyAnn Birchall, Deutsche Bank head of UK graduate recruitment, saying: “These days, there are approximately 1,000 intern positions in the City among all the major banks and it has become so competitive that the earlier you start thinking about a career, the better.”
The SII was formed in 1992 by members of the London Stock Exchange. Its mission is to set standards of professional excellence and integrity for the securities and investment industry, providing qualifications and promoting the highest level of competence to its members, firms and others. It is also a registered charity that aims to promote the advancement and dissemination of knowledge in the field of securities and investments, for public benefit.
It also acts as an authoritative body for the purpose of consultation and research in matters of education or public interest concerning investment in securities.
Sudakshina Mukherjee
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