unicornnews: Fewer finance jobs for grads

After all that talk about how graduate recruitment would survive the good old credit crunch, The Times has run an article warning that there are, in fact, fewer jobs for graduates in the financial sector as a result of the credit crisis. The broadsheet also reckons that recent graduate recruits, being the last in, may well be the first out when the axe falls, while adding that, preempting the need to downsize, some banks have cut their recruitment programmes this year.

It’s not all doom and gloom though. The paper has also found a number of graduate recruiters in the finance sector who are as keen as ever to find new recruits. Even if they won’t have many jobs for them in the long term. Oh, hang on, that is pretty gloomy too isn’t it. Sorry.

They quote Sarah Butcher, editor of recruitment website efinancialcareers.com as saying: “They won’t say it on the record but it looks like there are a lot more graduate interns starting summer placements now than the banks will have jobs for next July. They recruited their summer interns at the start of this year and things have got worse since”.

And so it continues. Fans of doom and gloom can read the full article here

Posted Thursday July 3 2008 by Caro Moses