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  1. Wealth
June 10, 2009

Half of financial firms to cut new graduate jobs

By Spear's

Over half of financial services firms are cutting graduate recruitment this year, according to the results of an online poll by the Securities and Investment Institute (SII).

Over half of financial services firms are cutting graduate recruitment this year, according to the results of an online poll by the Securities and Investment Institute (SII).

Fifty-seven percent of respondents said they were reducing graduate intake by half or more compared with last year, and 14 percent added that the number of graduates being taken on was already down.

However, 18 percent said their intake was broadly the same, and 11 percent said they were taking on more graduates than last year.

“This useful survey reflects what we are seeing in our advance graduate bookings, which we estimate are at 50 per cent of last year’s level,” said SII chief executive Simon Culhane.

“Many firms realise that graduate recruitment is a long-term investment and are keen to find talented individuals, even in more straightened times, which is why only a few firms are completely stopping their recruitment.”

For further details, visit thewealthnet

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