What about Banking & Finance?

Tell someone you are going to a convention of accountants and you might get a few yawns, yet money and the workings of our economic system are fascinating subjects which affect us all.

Unlike most developments we enjoy, which can be traced back to a source, civilisation or inventor, the banking and finance system appeared independently in locations all over the world in a remarkably similar way.

From a simple bartering system trading in basic commodities, the industry has evolved into complex system of balancing risk and profitability, international trading and electronic communications, identifying optimal portfolios of assets, as well as dealing with the valuation of assets.

Recent years have seen a virtual revolution in the financial sector. The introduction of new technologies has paved the way for a raft of new products, services and ways of working; a trend that is here to stay.

Typical Activities

For one of the oldest professions it is a remarkably high tech industry. Adopting some of the most advanced technology and software to create more streamlined and effective services. Typical activities include:

• Developing credit checking systems
• Devising financial strategies and advising clients
• Advising on mergers and acquisitions
• Investment management and management consultancy
• Database construction and maintenance 

Getting in

Banking and financial professions are among the most lucrative,  often paying in excess of £28,000 for a recently employed graduate. Most large companies run graduate training schemes but competition can be tough.

A range of skills can make a successful candidate stand out from the crowd:

• Good problem-solving and numeracy skills
• An ability to think laterally
• An analytical nature with a sound knowledge of the industry
• Leadership skills combined with the abitlity to work as part of a team

While studying a specialised course is often not necessary, employers look for candidates with strong academic skills, many of which can be developed by studying science, engineering, technology or maths. Work experience is also a big advantage, so look out for year in industry or summer placements.

Although most jobs in the financial sector require a university degree, vocational courses can lead to careers in accountancy.

Typical Employers

This sector has some of the most illustrious employers not only in the UK but in world. Global players that drive not only our economy but the global economy. And although London is the key investment centre in the UK, financial jobs do exist in most towns in the UK. Key graduate employers include

• KPMG
• Goldman Sachs
• Barclays Bank
• HSBC
• Ernst & Young
• RBS
• Morgan Stanley

More reading

Financial Services Skills Councils

eFinancial Careers student centre