Meet your match: which financial services employer will offer you the right graduate career?
Recruiters can tell when applicants genuinely want to work for them so considering which type of working environment will best suit you will help you bag that initial graduate job offer – and ensure long-term happiness and career success.
Types of financial services organisations
No two companies will be identical, even if they are direct competitors. Some financial services graduate employers may do the following:
- work across many different areas (for example, retail banks may also provide insurance services).
- provide a number of services within one particular financial area (for example, an actuarial firm).
- specialise in a specific aspect of one area (for example, underwriting claims for an insurance company).
Your experiences will differ hugely depending on where you work so think about which aspects of financial services most appeal to you. Take a look at the main employers for each financial services area of work, but also don’t be afraid to investigate other options: many supermarket chains now offer retail banking services, for instance, and there may be actuarial vacancies in investment banks.
Graduate careers both in and outside the City
There are plenty of financial services opportunities in London but you won’t miss out if the capital isn’t for you – regional bases are now cropping up all over the UK. When you become more experienced, some roles may allow you to work from home while others may give you the chance to travel internationally. You’ll obviously maximise your chances of securing a position if you can be flexible in terms of location, but it is possible to stay in a particular place.
Choosing an employer is a two-way process: you want them to offer you a job but you need to be confident that you'll be happy working for them.
Rotational vs. non-rotational graduate schemes
Keen to discover where your talents lie and gain a broad understanding of the business before specialising? Larger employers tend to run rotational graduate schemes in which you’ll work across their different business areas or specialisms for a certain period of time. After this, managers and the HR team will place you in a permanent role in the area of your choice. Already sure of what you want to do? A non-rotational scheme in a particular discipline where you apply for a specific job role may be more up your street.
Training and professional qualifications in the financial services sector
All good employers will provide in-house training when you join, covering any necessary technical skills and ‘soft’ skills such as appropriate communication. There are also professional qualifications run by official bodies that you can take across financial services specialisms . In some cases they are mandatory (eg in actuarial work) and prove that you are a capable professional; in others they will be optional. Find out where an employer stands on this and what kind of support is on offer while you learn (eg study leave).
Progression prospects in financial services
Career progression in financial services can be rapid – check out our inspiring career tips from managers and leading financial services professionals for proof. Read employee profiles on company websites and ask at interview about what graduates go on to do in the firm to get an idea of the career progression you could expect.
Next steps: take your recruiter research a step further
- Step one: Read and compare profiles of graduate employers in the financial services on targetjobs.co.uk to find out more about particular recruiters. Check out their graduate recruitment websites to conduct your initial research.
- Step two: Meet employers. Your careers service should arrange careers fairs and presentations where you can meet HR recruiters and recent graduate employees face to face. Recruiters are looking for employees they can trust with their clients so present yourself in a professional manner.
- Step three: Remember the names of the people you meet and, when you come to apply for a graduate job, mention them in your applications for financial services graduate jobs.
- Step four: Get yourself some work experience in financial services to ‘test drive’ the company first-hand.
Finally...
...remember that choosing an employer is a two-way process: you want a job offer but you also want to make sure that the employer offers a working environment that will give you the best start.