Internships and insight courses – impressing investment banks

Citi recently ran an event on campus which gave valuable inside information on how to be successful in your applications for internships and/or insight courses. Their advice is relevant not just for Citi, but for other investment banks too. Joanna, who ran the session, has worked for both Citi and Barclays and knows a great deal about the do’s and don’ts for graduates.  So read on (and if in doubt about how to put this advice into practice, come to Careers for support)…

DO

• Get involved as early in your course as you can. Doing an insight course will give you a stronger change of getting an internship.  Many graduate hires are previous successful interns, so an insight course really can make a difference.
• Write a cover letter that is concise (no more than one page) and is laid out as a formal letter with your address, the date and appropriate sign-off.
• Use your cover letter to communication your passion for a role in investment banking and with that bank in particular.  Be specific. Research beyond what’s on the website so that you can say why it’s Citi (or Deutchshe etc) you want to work for and what business area you are focusing on.
• Use a clear layout with headings for your CV.  The advice was that one full page is good.  But avoid one and half as it looks as though you have run out of things to say.
• Be meticulous in your application. City alone receives around 30,000 graduate applications a year for its courses, internships and graduate programmes. A typo or lacklustre cover letter will give a busy recruiter the reason they need to dismiss your application and move on to the next one.

DON’T

• Give up! Yes it’s competitive, but it’s possible. If you don’t get the internship you want, consider reapplying as some schemes flex their criteria e.g. there may be internship places for strong graduates who missed out during their earlier years.
• Think your work is done once you have got a place. Building contact during any insight course or internship is essential and so is keeping in touch one you have moved on.

Build a Bank – how do banks work?

Speakers from JPMorganChase and Barclays Wealth, working in asset management and wealth management entertained a hundred students on Monday night at the first of our ‘Focus on Finance Fortnight’ events, Build a Bank.  The speakers, both alumni of Queen Mary, outlined what their functions involve, giving detailed insight into the workings of a bank.  We learnt about affluent, high net worth and ultra high net worth clients in wealth management, how new clients are found, how performance analysts look at the performance of stocks and shares and report that to front office asset managers, and more.

Both speakers talked about the value of extra curricular activities, such as societies and positions of responsibility on or off campus, to make your CV stand out to employers. They highlighted networking as a key way of finding out useful information for a job search and leveraging work experience opportunities. When applying to banks, they advised reading the FT for a month before interview, having an overview of the markets and what’s going on in the finance world, as well as learning about the differences between IBs and retail banks, and how the division you are applying to works.

Some websites you might like to explore in the light of this are Investopedia, EfinancialCareers and SEO London.

For further details about how to network, as well as what to ask, see the resources page of our website.

Download interview and assessment centre tips

A major financial company has developed a free online application  to help students with interview skills and assessment centre preparation.  Although the application is hosted by an investment bank, it is designed to help students and graduates whether they are interested in a financial career or not.

The application features interview questions, candidates’ answers and employer feedback. Download the app for free to your phone or PC.

Don’t forget that QM Careers offers handouts, DVDs, books and practice sessions for upcoming interviews so come and see us!

The City Course – the event for QM students considering careers in the City

For a unique, insider’s perspective on a career in the City, apply to The Careers Group’s City Course. Applications are now open for the five day programme taking place on Monday 12th to  Friday 16th September 2011.

Activities during the week include:

• Visiting fantastic City employers and institutions such as the Bank of England and Lloyds of London
• Participating in the employer-led business games and simulations to learn new skills to enhance your CV
• Listening to presentations and graduate panels about the range of City careers.

At each firm, you will get the opportunity to meet and network with recent graduates working there, representatives from the graduate recruitment teams and sometimes more senior employees. You will start early, work hard and come away with a detailed understanding of how the City works and whether it is the place for you.

This event is for University of London students only and covers investment banking, management consultancy, accountancy, commercial law, risk management and more.

Please see the website for more details and to read City Course alumni stories. There is also a Facebook page with more information about City careers.

Apply with a CV and covering letter by Friday 24th June 2011. You are welcome to visit QM Careers (WG3, Queens’ Building) for guides about CVs and covering letters and to book an appointment for some feedback on your CV and covering letter.

Are you a woman interested in Finance?

Are you Female?
In your first year or penultimate year of university?
Do you have ‘A’ grades in GCSE Maths and English?

If your answer to all the above is yes, then why not apply for the HSBC-Visible Women Mentoring Programme. HSBC in collaboration with the Visible Women Campaign is offering female undergraduates, in their first or penultimate year, the opportunity to be mentored by an HSBC Graduate. The formal programme will run from January – March 2011, with the experience day taking place in April 2011.

How will you benefit?

• Guidance in choosing a career path and identifying interests and strengths.
• Unique opportunity to have an insight into graduate schemes and recruitment processes.
• Insight into working at HSBC and the opportunities available within the industry.
• Opportunity to meet graduates and other leaders at HSBC on the experience day to be held at our Global Headquarters in Canary Wharf.
• Potential to work towards applying for a Summer 2011 internship (subject to assessment)

How can you get involved?
1. Send an e-mail to register interest to info@vwcampaign.co.uk
2. Create your profile
3. Complete the short application form and online testing
4. Applicants will be notified of the outcome in December

The final day to register interest in 21 November 2010. If you meet all three of the listed critera, then send your email to info@vwcampaign.co.uk today.

Getting work in banking

Liquid Capital, RBS and SEO representatives attended our popular ‘Bank your future’ panel on Monday. Giving advice and insight on getting work in banking, highlights included:

• It’s worth looking for jobs in growth areas in banking,  such as compliance, insurance and risk, regulatory and audit.
• Getting work experience in a professional environment is  important and can really increase your chances of getting onto a graduate scheme.  This could be through a part-time job,  work experience you organise yourself, or a structured internship.
• If you don’t get onto a graduate scheme look for entry level roles (this will often have ‘assistant’ or ‘junior’ in the title).  These offer you the chance to work in the area you desire and then it’s up to you to seek training and promotion to work your way up.  They are advertised all year round in types of companies, and you tend to start soon after interview (from immediately to 2 months).
• Make sure you look out for SMEs (firms of 500 or less), as they also have vacancies for graduates.  Jesse recommended the Wilmot finance forum http://www.wilmott.com/ and GARP http://www.garp.org/ for those interested in quantitative finance and risk. A list of websites stocked in careers can help you find these firms.
• Networking in really important.  At a graduate fair if you impress a recruiter they will keep a note of your name and watch out for your application. Also think of networking at presentations, with family friends or at events.  You could start a relationship, which a little further down the line could get you some work experience, work shadowing or simply a coffee with someone who can give you more insight into the industry – useful for application forms and interviews.
• How to impress when networking:  do your research on the company before you meet someone from there so that you can ask good questions and show what you know.  Interact with someone on a personal level, not just a work level: ask them about their own career journey, what it’s like working for their company director, and so on.
• Use the QM alumni group (and that of your UG uni if you are a Masters student) on Linked In to build an online network of contacts.  Fill out your profile thoroughly to use for maximum benefit.
• Investopedia http://www.investopedia.com offers education in all things to do with banking and finance: videos, articles and a dictionary will set you up for applications and interviews!

Growing Opportunities in Financial IT

There is currently a growing demand in financial organisations for talented IT graduates. According to the Association of Graduate Recruitment’s Financial Services Sector Focus Group, applications to financial firms’ IT departments are relatively low compared to the number of vacancies available.

What types of roles can I do?

Technology plays a big role in how the sector operates. Investment banks are creating more roles to develop software to calculate risk and support trading platforms as well as to increase data security. Roles in financial IT include software developers, data analysts, architects, project managers and IT support workers.

Where can I locate vacancies?

Many of the large investment banks offer graduate schemes in their technology divisions. For further information, please see the banks’ websites. Browse financial IT vacancies and read about industry news and advice on the efinancial careers’ website.

QM Careers provides help with application forms, CVs and interview and assessment centre preparation.