Graduate Recruitment and (job loss) the Credit Crunch
No commentsBy Martha Franklin
It is an unwritten rule of job cutting that the most recently hired graduates should be the first ones to be let go when the financial sector is hurting. Some banks are steadfast in their efforts to hire new graduates while others, such as AIB, have eliminated programs of recruitment for the year. What kind of graduates do they seek out? How does a graduate make it to the top of the list in a job market with few jobs available? What can new arrivals hope to gain in the future?
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. New graduate hires in 2008 are nearly identical to the previous year at Citi, a bank with large worldwide redundancie announcements. Morgan Stanley and Deutsche Bank are in full force with their graduate recruitment programs. 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. In 2009, we believe approximately 75% will be offered permanent employment. The employment scene is really starting to look up, as far as the commercial banking field is concerned. Retail and commercial recruitment figures for Barclays are expected to rise by 48% globally this year. In 2009 they are looking to see another increase.
Graduates can find reassurance in the fact that banks have learned from the mistakes of the past. Several banks were forced to fill jobs from accountancy instead of hiring new graduates in 2001-2002 when financial sector recruiting was last so bad. In order to ensure that graduate jobs are available for the appropriate candidates, this error must not occur in the future.
Martha is a freelance journalist writing about Pareto Consulting
Changing Careers - Ultimate Tips For Success
By Tony Jacowski
Analyze the Reasons for the Change
Deciding to change your career isn’t something that happens all of a sudden. It is something that is the culmination of long contemplation on the possible effects and after effects of the change. The crux of the issue, however, remains that whatever you wish to pursue post-change should be something that you are deeply passionate about and which can give you the happiness you find missing in doing whatever you are presently engaged in.
If the change that you are contemplating is not something that fulfills the above conditions, it is probably not worth doing at all. If you feel discontented with your present job even though it gives you a good salary, it may be a good time to consider switching jobs.
A career change should be about personal satisfaction, fulfillment and happiness.
Don’t Rush Into Things
Any decision on a career change should be unhurried and based only on a thorough research of what other opportunities exist. They should be matched against the skills and other attributes you possess, as also those that you would need to acquire.
The question of what monetary compensation you will be able to make is of lesser importance; but nevertheless, it cannot be ruled out completely. Therefore, your research should encompass all relevant aspects in detail, making everything absolutely clear about what to expect from your new endeavor.
If you find it difficult to do this on your own, you should probably try to work with a career coach before finally making the switch.
Methodically List All Available Options
A career change is something that has far reaching implications and consequences. It can completely change your life, and a wrong decision can lead to damage that may be extremely difficult, if not impossible, to repair. Therefore, it is necessary that you categorize all options you have in terms of careers that interest you.
This can be helpful in letting you segregate options that interest you most and concentrate only on those options. While trying to select what you are best suited for, you need to do some introspection. Pick an option and ask yourself what reasons led you to explore it, whether you need additional education and training, and what risks and opportunities you will come across when pursuing it.
The answers you will get will be extremely important and help to clear up any doubts. A career change is something that is going to affect your whole life - and that of those who are dependent on you. You really cannot afford to make this decision until you are very clear in your mind as to why you need to make the change and what the exact ways in which you are going to act.
The gamut of a career change can involve a great amount of time and expense, and it would be fatal to jump into it without being armed with all necessary information.
Having all available information allows you to focus on the career that suits your skills and abilities like best - and to work towards it to achieve greater satisfaction and happiness in life.
Tony Jacowski is a quality analyst for The MBA Journal. Aveta Solution’s Six Sigma Online offers online six sigma training and certification classes for six sigma professionals including, lean six sigma, black belts, green belts, and yellow belts.
Your Online Guide For Growth And Opportunity
What Are Your Weaknesses?
By Lucy Evans
With careful preparation, difficult interview questions can present you with an opportunity to shine under pressure. The important thing with all questions is to show a balanced and considered approach. The following examples will show you some of the pitfalls and ways to avoid them.
Lets start with the classic interview question what are your weaknesses?
There are many variations on this question, common ones include tell me a strength and a weakness and what are your three greatest weakness. To fully prepare you should have three strengths and weaknesses prepared. The worst mistake to make with this question is to claim you dont have any weaknesses. This approach is unlikely to impress the interviewer and will present you in a cowardly light. This question may not be as difficult as it first appears. Sit down and consider what your true work related weaknesses are. When you really think about it this is often quite a long list (I know mine is). The next stage is to think what you have done to overcome these weaknesses in your working life.
Let me give you an example. I personally am very task orientated, I like to get stuck in to the main tasks and often used to ignore the more minor responsibilities. I realized that although I completed my core projects, I had forgotten to do the other tasks I needed to do like complete time sheets and tracking reports. I now make lists of all the tasks I have to complete in a day and make it my priority to complete the list above everything else. This has really helped me to multitask more effectively. When choosing a weakness, look for one that is work related where you can demonstrate that you recognised the weakness, and found an effective method of overcoming it.
Examining your strengths can be just as difficult as your weaknesses. The important thing here is not to appear like an ego-maniac. Consider carefully what your strengths are, then consider the supporting evidence you have for these strengths. Always present a considered argument with supporting evidence.
Why are you leaving your current Job?
The purpose of this question is for the interviewer to discover if you are leaving due to any current difficulties. If you are unhappy where you are, whats to say you will not be unhappy in your new job. Avoid at all costs talking about any problems in your current job and especially any problems with your current management. Highlighting problems, even if they are not your fault will give the impression that you are hard to work with or difficult to manage.
Look for the positive aspects of moving job role both for you and your future employer. Emphasize why you want to move and relate them to the specific company and job. Potential answers include seeking a new challenge, looking for somewhere with training and looking for a role with more opportunities for advancement. Consider how your answer relates not only to you, but how it will benefit your new firm. As an example if you are looking for a role with more possibilities for advancement, you need to emphasize how important work is to you and the effort you are prepared to put in in-order to advance.
Lucy works for Graduate Careers London Graduate Scheme
Sunday, August 31st, 2008 at 1:55 am and is filed under careers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
