Today’s students aren’t supposed to be that interested in pay. Something, though, must be driving hundreds of thousands of students to apply for jobs at places like Goldman Sachs and money surely has something to do with it. Investment banks pay graduate joiners more than any other industry.
So says a new report by student research company High Fliers. As shown in the chart below, average graduate starting salaries in banking are now £47k. This is 57% higher than in media, and it doesn’t even include the end of year bonus.
The bad news is that while banking still pays inordinately well, it’s almost certainly become harder to get into. High Fliers says investment banks’ graduate recruitment fell by 38% between 2007 and 2017 and that vacancies in 2018 are likely to fall by 6% compared to last year.
High Fliers based its investment banking research on interviews with Barclays Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley, RBS and UBS.
Related articles:
Eight ways into one of the hottest jobs in private equityThese are tips for landing a coveted PE IR position.
J.P. Morgan is offering a new route into a front office jobJ.P. Morgan is ramping up recruitment for young people in the front office.
J.P.Morgan’s massive guide to machine learning and big data jobs in financeSo you want to work in machine learning and big data in finance? In 2017, J.P. Morgan issued a huge new report on that.
Follow @MadameButcher
Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)
Related articles:
Eight ways into one of the hottest jobs in private equityThese are tips for landing a coveted PE IR position.
J.P. Morgan is offering a new route into a front office jobJ.P. Morgan is ramping up recruitment for young people in the front office.
J.P.Morgan’s massive guide to machine learning and big data jobs in financeSo you want to work in machine learning and big data in finance? In 2017, J.P. Morgan issued a huge new report on that.
““