The [http://www.ft.com/cms/s/854d8a6c-da81-11dd-8c28-000077b07658,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F854d8a6c-da81-11dd-8c28-000077b07658.html&_i_referer=http%3A%2F%2Fwww.journalisted.com%2Farticle%3Fid%3D1119619 Financial Times] printed an article today about the massive reduction in the amount of investment banking jobs available to graduates since the start fo the credit crunch.
It seems most investment banks will be massively slashing their graduate recruitment marketing budgets and almost totally halting their graduate recruitment process in 2009. Because banks will only be recruiting a handful of people this year, they are becomming far more picky and most are only targeting the top three universities: Oxford, Cambridge or Imperial.
There seems to be a drive towards internships too… firms are looking to recruit very bright interns for placements, with a view to offering them full-time jobs.
All in all, unless you’re very bright and from Oxbridge, it’s time for plan B.