57% of financial services players say their firms are reducing graduate recruitment by half or more compared with last year, according to a survey carried out by the Securities & Investment Institute (SII).
A further 14% of industry players who took part in the survey, conducted on the SII website, said the number of graduates being taken on by their firms is slightly down. But the survey showed that, despite the sector tightening its belt due to the continuing difficult market conditions, it is not all gloomy for graduates job prospects.
18% of respondents said the level of recruitment is unchanged and 11% said their companies are hiring more graduates. Of those, 8% said recruitment is slightly up and 3% said it is increasing by 50% or more.
“This useful survey reflects what we are seeing in our advance graduate bookings, which we estimate are at 50% of last year’s level,” says Simon Culhane FSI, chief executive, SII. “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.”
To take part in the latest SII online survey, visit www.sii.org.uk.
L.D.