Graduate Recruitment and the Credit Crunch |
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| By: Martha Franklin | ||||
Although bankers may be hesitant to agree, pundits note that there are not as many jobs available for graduates in the field of banking. Some positive things have started to come to light even with banks, such as AIB stopping thier recruiting. Still some graduates are feeling stressed. Even though Citi is a bank that has revealed large redundancies worldwide, the number of graduates hired for 2008 are in sync with the number for 2007. Deutsche Bank and Morgan Stanley are eagerly seeking out new graduates to hire. Even UBS, with its announcement of 5,500 redundancies, plans to go forth with a recruitment season similar to that of last year's. Goldman Sachs is in the middle of one of its largest summer recruitment initiatives. This summer, over 400 interns will start their placements. It is projected that, beginning in the year 2009, approximately three-quarters of them will be offered permanent positions. The employment scene is really starting to look up, as far as the commercial banking field is concerned. In Barclays, they are looking for new recruit figures to grow by 48% in the globel retail, and the commercial department for the year. In 2009 they are looking to see another increase. Graduates can rest easy since banks seemed to have learned from past mistakes. Rather than hiring new graduates, many banks were forced to fill jobs from accountancy during the period from 2001-02, which was the last time the financial sector recruiting was as bad as the current decline of 40%. In order to ensure that graduate jobs are available for the appropriate candidates, this error must not occur in the future. |
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| Article Source: http://business2u.co.za | ||||
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