135 graduates compete for every investment bank job

MORE than 135 graduates competed for every entry-level job at an investment bank or fund manager in the UK last year, with the number of roles in the sector set to fall even further for the next set of students.

New figures from the Association of Graduate Recruiters’ (AGR) summer survey released yesterday showed that investment banks or fund managers received 135.3 applications for every graduate vacancy, second only to the so-called fast moving consumer goods sector – which includes firms such as Nestle, Pepsi and Proctor & Gamble – with 211 applications per role. In banking and financial services there were 114.7 applicants per position.

But in a blow to graduates seeking the average £38,250 salary that comes with an investment banking or fund management role – well above the median £26,500 – the industry will provide just 4.8 per cent of the vacancies available to university leavers, down from six per cent in 2011-12. Overall, employers expect a 3.9 per cent fall in vacancies for the 2012-2013 academic year.