Applications for top bank graduate training programs are “definitely on track to being at least on par or increased on last year,” says Elaina Griffiths, head of Campus Recruitment at UBS. “Every year, for the last couple of years, we’ve seen an increase in applications and that trend is definitely looking like it will be the case this year.”
Deutsche Bank has set up a new website for grads to give them an overview of what to expect. The website, unofficialguidetobanking.com also debunks a few popular myths about what it’s like to work in investment banking, such as:
“MYTH: It’s all work work work in banking. The hours you work are notoriously long. You have to give up your personal life, your boyfriend or girlfriend, your family, your hobbies, your life.”
“REALITY: So it is true you have to work very hard. But the number of hours you work can differ dramatically. Work on the trading floor and you’ll do an intense 10-hour day. In Corporate Finance, if you’re on a big deal, it’s true – you can pull all-nighters. Getting ahead in any new career requires long hours and dedication; banking is no different (except that the hours might be just a little bit longer).”
The site also has some useful overview sections on what it’s like to work in a bank’s graduate training programs in Asset Management, Corporate Finance, Compliance, Risk Management, and Sales departments, to name a few.
Most banks are looking for a broad skill set and degrees. Grades are not the be-all, end-all of applying. While business and law degrees dominate among applicants, recruiters say examples of team work, creativity and international experience will be attractive as well.
“Interest, passion and hunger to succeed in the industry tend to set successful applicants apart from the rest,” says Elaina Griffiths, head of Campus Recruitment at UBS.
UBS, Goldman and Citi will each take about 25 to 30 graduates this year. Deutsche hires roughly about 120 in the Australasian region.
Are you looking for a graduate program in investment banking to help launch your investment banking career? Add your questions or comments below.