Breaking into the Investment Banking sector in London

[BolshieBastard]

Not sure I agree with Bolshie about reading up etc; can't put that on yr CV can you? It's exp they're looking for.

Eh!? I havent commented on this thread until now!

[Scrag Meister]

There must be a first time for any contractor in banking!!!

I suppose you could always go perm for a while to get some business knowledge.

My first contract was into Investment Banking and I had never worked in a bank before.

Took me 3 months on the bench after jumping from the great ship Permiedom, to get it, but it arrived eventually.

The working environment is part what you make it and part who you work with and are managed by.

[Lockhouse]

I've been contracting in IB nearly 20 years. Now is the wrong time to try to get into banking, people are being let go at the moment and it 'aint gonna let up anytime soon.

If you want to get in, go permie, it's far easier to get a job, do 12 months and quit.

[Notascooby]

There's a few asset manger types in Edinburgh employing your skill-set. If you fancy breaking in then this could be an oppertunity before moving down south.

[oliverson]

I'm a Senior/Analyst .Net Developer with 7 years experience (mainly in web), of which I've been contracting for the last 2 in the north west of the country. I'm looking to relocate to London (for the money mainly), and I've noticed that the vast majority of the better paying contracts are all within the Investment Banking sector. I've read some horror stories on here about what it's like working in that area, but I still masochistically want to go ahead anyway!

I find myself in the catch 22 situation that all of the roles want previous IB experience, yet it is impossible to gain any if they will not consider contractors new to the sector. From reading the job descriptions, and from previous experience of other contracts, I have absolutely no doubt that I could do the work with one hand tied behind my back. I do very well in face to face interviews and am confident I could convince a client to give me a shot, yet the problem lies in convincing a recruiter to put me forward for a role in which they believe there is a danger the client will knock me back immediately, reflecting badly on the agent.

Does anyone with any experience of this situation have any advice on the matter? I'd be very grateful to hear the thoughts of those with more knowledge of it than I.

Cheers
Hoodlum

It's like I could have written this post back in 2007. I even went to the extremes of embarking on a qualification but when I started studying the stuff is bored the living tulip out of me. I can of just fell into it really as my previous clients were retail banks. I figure I just slipt through the net or they thought I was 'kind of' like them!

I share the sentiments of some of the other posters on here in that all that glitters is not gold. It is expensive down here and some of the people you'd like to kick the tulip out of, and hours are long sometimes, the interview process can be gruelling, there are no golf driving ranges in London, etc, etc. Many downsides but it can be quite addictive too and when you're watching The Apprentice on the TV you can impress your missus by pointing out all the places you've worked. Well, you can if you're shallow like me!

[eek]

Many downsides but it can be quite addictive too and when you're watching The Apprentice on the TV you can impress your missus by pointing out all the places you've worked. Well, you can if you're shallow like me!

or are stupid enough to watch the apprentice.

[oliverson]

or are stupid enough to watch the apprentice.

I also like Benidorm and Coronation Street :-(

[Notascooby]

I also like Benidorm and Coronation Street :-(

Let this be a warning to anyone wanting to work in IB!

[Fra]

I would like to work in a investment bank as well but now is really a wrong moment, my wife that is working there told me
that hiring is almost frozen, probably next June the situation is going to get better but who knows?
Obviously for a first time contractor in banking without banking experience I think it's very unlikely to enter now.

[ChimpMaster]

I would like to work in a investment bank as well but now is really a wrong moment, my wife that is working there told me
that hiring is almost frozen, probably next June the situation is going to get better but who knows?
Obviously for a first time contractor in banking without banking experience I think it's very unlikely to enter now.

I spent several years contracting at an IB in the City, and yes it's a good laugh and being in the City is great, the women are plentiful and pubs are everywhere and always heaving, and the money is good, but apart from that it's just rubbish.