Citi

Citi
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#1

Citigroup’s posted a surprisingly better result for the 2nd quarter. Its 2nd quarter loss for around £1.25 bln. made the financial markets show positive signs. The market is so sensitive that a better than expected loss has a positive impact! http://ap.google.com/article/ALeqM5i2PNpRzvc02u8Hv6VQVBeTamWXqgD920EOPG0

On the other hand, we might well expect a gloomy market for graduate jobs at banks. What do you think, will most of the graduates apply for BIG4 graduate programs because there are not many options/alternatives as used to be (banks)? Can we expect more competitive recruitment process at BIG4s during the next couple of years?


#2

My personal thoughts are that the worst for banks is probably just about over barring a few more shocks that are to be expected.

I suspect they will be cutting back on graduate recruitment for a couple of years but I doubt they’ll make it harder to get in. From what I’ve heard accountancy firms are already struggling to get candidates good enough to pass the tests and assessment days.


#3

Some banks have put a total freeze on graduate recruitment - you’re right though, the indications are that recruitment will return to normal after a year or two.


#4

Those firms survive on fresh blood- I wouldn’t worry too much about the long term future of recruitment. The gloomy spell will last only as long as the economic slowdown. As soon as things look better on the markets the banks will be busy again.