Latest posts by Lara Dugdale (see all)
- 5th Annual Financial Innovation Summit - 02 Nov 2016
- Chris Macdonald left Brooks Macdonald wealth management - 25 Oct 2016
- Are women better finance bosses than men? - 27 Sep 2016
If you want to work in investment banking, most likely you want to work in the so-called ‘front office’ doing sales and trading, or M&A, or capital markets. In other words, doing a job that might, one day, allow you to communicate with external clients and allow you to earn six figure sums mostly commonly associated with banking careers.
vIt’s notable, therefore, that if you’re a native Briton working in the City of London you’re comparatively less likely to do this kind of exciting banking job. Instead, you’re comparatively more likely to do the sorts of banking jobs candidates tend to avoid.
eFinancialCareers looked at CVs uploaded by London-based candidates into the CV database over the past year. In total, 59% were from individuals stating that UK-English is their first language, suggesting that as much as 41% of people in the City are non-Britons.
Most importantly, CVs belonging to native British candidates appear disproportionately focused in sectors like operations, none of which tend to top candidates’ wish lists. By comparison, Britons are comparatively less likely to be registered in popular front office sectors like trading, M&A and research, although they’re comparatively populous in equities).
The comparatively poor showing of British bankers in front office roles follows finance recruiters’ complaints that Britons are less likely to speak multiple languages or undertake additional responsibilities.