London remains top for graduates seeking careers in finance

Research carried out by Dartmouth Partners has shown that London remains the most attractive location for graduates who want to pursue a career in finance.

The recruitment firm’s “Gen Z Hiring Report” surveyed 600 people applying for jobs in financial services and found that London is the top spot for recent and future graduates, with 84 per cent of respondents citing the city as the place where they most want to work.

Aspirations

The report looked at the motivations and aspirations of graduates looking to work in the finance industry and found that 49 per cent want to work at investment banks, whilst 30 per cent said that they want to start their career in the buy side. Just 3 per cent of graduates said that they would like to start working for a start-up straight after finishing university.

The most important factors for graduates when choosing a career in finance were also revealed in the study, with career progression topping the list at 43 per cent. This was followed by brand (22 per cent), training (19 per cent) and salary (8 per cent).

The study also found that business and finance graduates have the highest expectations when it comes to salary, with more than 45 per cent of respondents expecting their base salary to be more than £45,000 and 25 per cent expecting £36,000 to £45,000. Just 13 per cent of graduates expect their base salary to be less than £29,000.

Demand

Commenting on the trend of graduates being in demand amongst finance firms, Dartmouth Partners Director Terri Loska said that in addition to traditional demand from banks, consultancies and the Big Four accountancy firms, there were far more private equity and hedge funds in London recruiting at the graduate level, which hasn’t been the case for the last ten years.