Why do I need current investment banking experience?

[BolshieBastard]

Was contacted twice today by agencies pleading with me to take their poxy IB job in docklands. Even quoted a daily rate 'up tp £450.'

But, there's no friggin way Im going to commute to central London not even for that money!

Thanks, but no thanks.

I do agree with the consensus that if you dont have current background in a role you can forget it.

[nomadd]

Was contacted twice today by agencies pleading with me to take their poxy IB job in docklands. Even quoted a daily rate 'up tp £450.'

But, there's no friggin way Im going to commute to central London not even for that money!

Thanks, but no thanks.

I do agree with the consensus that if you dont have current background in a role you can forget it.

£450? That's a "carp" rate for an IB, even in the current market.

Also, Docklands isn't Central London. Docklands is a wind-swept wasteland - with Skyscrapers - in the far, Far East (of London). A truly horrid place. (I know, I spent 4 years working there; never again.)

Nomadd

[Zippy]

Also, IB staff are far better skilled then the slobs who work public/"new media" etc.[/B] so your previous experience in IB goes towards assuring us that you haven't just lied your way through our process.

I've worked as external supplier with investment banks and - based on the numpties I dealt with - your argument doesn't stand up. I wouldn't have expected to tell such "experts" how their systems worked, or how to configure them.

The "previous experience" thing may be to do with ensuring the candidate can pass the credit/other checking.

[Gonzo]

Also, Docklands isn't Central London. Docklands is a wind-swept wasteland - with Skyscrapers - in the far, Far East (of London). A truly horrid place. (I know, I spent 4 years working there; never again.)

I lived there for nine years and loved it.

OK, when the weather is bad it is pretty grim and turns into something of an "umbrella graveyard".

The public transport to and from it can get so crammed that for the last nine months I was using the river ferries and not the tube/dlr.

Other than that, it was great!

[richt5a]

Any banking successes with no banking experience

So are any people out there, without banking experience, applying for banking roles with any degree of success?

As a Programme Project Manager with many years of Blue Chip, but non banking, experience I more than happy that I can manage and deliver projects in any industry sector. But . . . can't get passed the pimps so generally don't bother applying except on that very rare occasion where you see a spec that says finance experience

[ChimpMaster]

So are any people out there, without banking experience, applying for banking roles with any degree of success?

As a Programme Project Manager with many years of Blue Chip, but non banking, experience I more than happy that I can manage and deliver projects in any industry sector. But . . . can't get passed the pimps so generally don't bother applying except on that very rare occasion where you see a spec that says finance experience

You would stand more chance of breaking into new industries as a technical specialist, but as a generalist PM/PPM I would not think that you would stand out in the crowd. PM's are too prevalent in banking, so very easy to get hold of. I would also say that industry experience is more important in a PM/BA role than it is in a technical role. You really need to know what you're talking about, especially when meeting the bank's clients/suppliers.

[hugebrain]

So are any people out there, without banking experience, applying for banking roles with any degree of success?

Just apply for a job on a project that is being run by a consultancy. They're always on the lookout for know-nothing contractors that can make even their wet-behind-the-ears graduate consultants look good.

Then your second contract can be direct with the bank.

(remember, investment bank jobs suck and they don't pay much more than £500/day at the moment).

[TiroFijo]

(remember, investment bank jobs suck and they don't pay much more than £500/day at the moment).

In a list of industries that I would like to work in, IB does not even make it on the bottom of it.
I always imagined that IB was full of nobs, am I right?

[RedTag]

It depends if you yourself are a nob. In my case, I don't notice all the other nobs so I don't have an issue.

[HairyArsedBloke]

I always imagined that IB was full of nobs, am I right?