New skills for a new decade?

Several reports have recently highlighted the fact that the financial services industry is going to see a skills shake up. Why?  Well given that we’re still in the midst of a global crisis – albeit with some definate signs of recovery – analysts and academics alike are hypothesising that future success in a globally competive market, subject to a different regulatory framework and pressures, may well demand a new skills set.  Michael Rendell, partner and global leader, human resource services, PwC, said:  “While recent focus has been on bankers’ ethics it is entirely conceivable that – alongside the innovators and the entrepreneurs – the business stars of the future across all employee levels will also need compliance, risk management and relationship management expertise… Companies will have pockets on their skills map that need filling in advance of the upturn as their talent needs evolve. Redeployment and recruitment to stimulate new ideas, kick start motivation in existing staff and fill skills gaps will be necessary – albeit on a possibly small scale.”

Maybe developing these, and other employability skills needs to be on your list of new year’s resolutions?

Who’s your Xmas number 1?

With the X Factor’s Simon Cowell having a hand in almost every album in the current chart and Joe battling for the number 1 Xmas single slot, I thought now would be a good time to ask who would be your number 1 choice of employer this Xmas? If you’re struggling to think who, every year Universum conduct a global survey to come up with their top 50 most attractive employers.  The ranking is based on a survey of 120,000 business students from top institutions in countries including the US, UK, China, Germany, Italy and India who select their ideal companies to work for.  It’s likely a few of you will have taken part in this survey!

Anyway the results you’ve all been waiting for…Google finished in top spot but PWC finished 2nd with the other big 4 not far behind. Ernst & Young came 5th, KPMG 8th and Deloitte 10th.  So?  Well these 4 organisations are global brands and amongst the largest recruiters of graduates.  But they are also very popular attracting high numbers of applications. 

And the moral of this Xmas story? If one or more of these companies is in your own personal top 10 and you haven’t yet applied then NOW is the time to do so!  With rolling recruitment, jobs can be a bit like January sale bargains, once they’re gone they’re gone.  So get yourself to the front of the queue if you want to snap one up!

City trader or analyst? What’s the alternatives?

I know you’ll all have a pretty good idea what a city trader does but how many of you know what life as a trader an at oil or energy company is like?  Differences and similarities? Pros and cons?  What’s the recruitment market like?  How many of you know about specialist international investment banking companies working in the energy sector?  With traditional roles and sectors still seeing turbulant times is it worth investigating some alternatives?  The energy sector has bucked trends, is actively recruiting and offers a wealth of perhaps lesser known roles but offering similar responsibilities and challenges (but without such long hours!).  Intrigued?  Want to find out more?  Then come to our Energy Careers Forum next Monday evening from 6 – 8pm.  No need to book.  Further details are on our website.

Central Banking and Regulation Day – more places released!

Worried you’d missed out on this Saturday’s Central Banking and Regulation Day?  Then worry not as some more spaces have just been released.

This event is the only one of its kind. Where else can you get the opportunity to hear presentations and meet with representatives from organisations such as the IMF, European Central Bank, Bank of England, Banque de France,  Deutsche Bundesbank, The Financial Services Authority and the Monetary Authority of Singapore all under one roof!  If you are interested in finding out more about what these organisations do; what kind of qualifications, work experience and personal qualities the recruiters are looking for; and what candidates should expect in the selection process you can’t afford to miss it.

To book a place, please go to the Careers website , then My Careers and then Events.  It’s this Saturday from 10 – 5pm.

Trading Places

Judith’s come up with some interesting ideas for making extra cash over the holiday season so not to be outdone I’ve come up with some suggestions too!

Thomson Reuters have recently launched a trading game via Facebook.  Not only does it give you the chance to win £1000 but there’s weekly prizes too. If you don’t like what you win you could always ‘recycle’ your gift!  Seriously though the game gives you chance to practice your skills at trading with a £million budget so why not join over 600 other traders on the Thomson Reuters Facebook site  and put your skills to the test? You’ve got to be in it to win it!

It’s Xmas Time!

Snowman, Prague

Okay, so it’s a bit early but if you are new to London you may have noticed that we start the Xmas season in November.  The Xmas lights are switched on in the main shopping streets, the ice rinks are gearing up to open and the shops are full of suggested Xmas pressies.  And for those of you who don’t celebrate Xmas, you may just be looking on at the consumer excess that is ensuing in bemusement!

The Guardian ran an article on “Five ways to make money from …Christmas” which got me thinking so I’ve jumped on the Xmas band wagon (or should that be band sleigh?) to write my own contribution to the Xmas season.

So, back to the Guardian article; loved the first suggestion:

Xmas Tree, Mexico

Be a Santa or an elf – in demand from early November, skateboarding ones welcome, elves are a good role for young women- look for ads in The Stage or go to an agency like Star Now – casting calls for Santas tend to have age requirements.

Second suggestion – seasonal postie . Fingers crossed there are no further talks about strikes.  But Royal Mail takes on 20,000 plus staff so check their website.  And the Guardian article mentions that there are jobs in delivering present catalogues and suggests Gumtree for vacancies.

Shop work – always a seasonal demand for students to work in retail to cope with the Xmas rush.  Look at the websites of the large chains for application details.  A tip that I like from the article – you may get a staff discount which

Bergdorf Goodman, NYC

will save on what you spend on presents.  Need to be able to cope with pressure and customers (or polar bears) battling to get the must have present of the year.

Their fourth suggestion, and for me the weakest, “make hampers to sell.”  Not going to push this one but if you have the entrepreneurial spirit then read the full Guardian article.

And their last tip – do bar work.  Just like retail, they need extra pairs of hands to deal with the Xmas and New Year rush and you can earn more if you can work on the bank holidays.  But their tip, apply now.

LSE Public Lectures – this week

We blog about recruitment related subjects and the application process requires you to set aside time, fitting in around your studies.  But don’t forget to factor in time to attend the LSE Public Lectures to hear from experts in their field.

This week finance/economics related lectures include:

The Reform of the International Financial System: a proposal with the lessons from the crisis
Date: Tuesday 10 November 2009  2.00pm
Location: Sheikh Zayed Theatre, New Academic Building
Speaker: Jose Maria Aznar, Chair: Professor Luis Garicano

Them and Us: how capitalism without fairness is capitalism without a future
Date: Wednesday 11 November 2009  6.30pm
Location: Old Theatre, Old Building
Speaker: Will Hutton

The Future of Greek Banks: a regional strategy
Date: Thursday 12 November 2009  6.30pm
Location: Old Theatre, Old Building
Speaker: Takis Arapoglou

But financial prosperity aside, leave time to think about emotional prosperity by attending a talk next week:

Emotional Prosperity: biomarkers, economics and the Stiglitz commission on human progress
Date: Tuesday 17 November 2009  6.00pm
Location: Wolfson Theatre, New Academic Building
Speaker: Professor Andrew Oswald

You can find out about other forthcoming lectures here.

Central Banking & Regulation Day 2009

Saturday 21 November, 10.00am to 5.00pm

Last Saturday we ran a highly successful International Organisations Day attended by 1000 + students which hopefully you were attending. We hope to replicate that success with our first ever Central Banking and Regulation Day (CBRD).  The organizations are attracted to the diversity and international profile of LSE students and you can benefit from this interest so do try to attend.

The purpose is to put PhD students of Economics, Finance and Law – as well as Masters students who already have some years’ professional experience in economic research, banking, finance or regulation –in contact with representatives and recruiters from central banks and regulatory agencies.

The following organisations have already confirmed that they will attend:

• Bank of England
• Banque de France
• Deutsche Bundesbank
• European Central Bank
• Financial Services Authority (of UK)
• International Monetary Fund

You can find the full details of their vacancies and how to apply here.

Students will have the opportunity to attend the presentations of the participating organisations that interest them. You can find out more about the role of the organisation; the kind of work carried out by its staff members; what kind of qualifications, work experience and personal qualities the recruiters are looking for; and what candidates should expect in the selection process. There will also be a chance for the audience to ask questions.   And the representatives from these organizations are frequently generous with their time and continue to take individual questions after the talks are over in a breakout area.

Booking opens 11.00am Friday 13 November On ‘My Careers Service’

Spaces are allocated on a first-come-first-served basis

Common themes from the City Forum

As has been mentioned in previous posts the City Forum had an excellent line-up this year.  Senior industry speakers from Goldmans, E&Y, Citi, Barcap and BNP spoke about their personal experiences and career pathways and gave the audience tips on how to get in and on in the sector.  You can listen to the recording of the talk if you missed it.

A couple of common themes emerged as the speakers took the stand and I wanted to summarise these:

The relationship with the client is key: Bank of America.  Alison Duncan, Ernst and Young: “We are in a relationship business.”  You need to be inquisitive about what your clients do, about their business.  Working with clients and building relationships are critical skills; clients buy the services of individuals. You need to listen to clients and to be able to think on your feet and respond to what they say.  A high of the job is to receive excellent feedback from clients.

Don’t underestimate the power of your network: Bank of America.  When you move firm you do not necessarily take your network with you and will need networking skills to build one up again.  Networks can be very powerful and enable you to get things done.

Networking starts young.  Kara Lemont Sportelli, EMEA BNP Paribas, spoke about a time when she was working on a trading desk and a request was put in for her to go to Tokyo from somebody she had been in her training year with.  She went and it turned out to be a great move.  Her early network had been key to this move.

Be flexible and take risks from time to time to achieve your long term aims: Citi. Go for the goal, don’t settle for less: Bar Cap.  But if a direct move is not available then take a long term view and take a chance and move sideways, work hard and prove yourself and opportunities may arise; it may work it may not.  You may be in the right field but not the right role or you may not be happy in a role but give it your all, learn as much as you can in that role and work hard to impress.   You will be given an opportunity if you do well and a chance to move up later. Be flexible and give it a chance – you may like it.

Banking and Financial Services Fair – last few spaces available!

Well I’m just back from a busy night at day 1 of the Banking and Financial Services Careers Fair.  It was great to see so many LSE students talking with recruiters and finding out more about the opportunities on offer.  There’s different employers on day 2 and still a few spaces available so if you want to attend go to My Careers.  I look forward to seeing you there!