Generation Y goes off banking

Banking and finance careers have lost much of their sparkle as far as student and graduates are concerned, according to new research from Milkround.com.  Crunches and crises have nearly halved the number of graduates who are interested in a future in these sectors, and management consultancy and accountancy appear to be the beneficiaries.

Of the 300 Milkround users questioned, 38% said they have ruled out banking and finance completely compared to 21% before the crunch.  The 68% who would have considered banking just a few months ago has now dipped to 36%.  Among the reasons given for the change in attitudes are that there are no positions available, and that salaries and bonuses have been reduced.  One unlucky graduate is finding the going tough: "I had a grad job at Lehman and have now lost it. No one is hiring: Deutsche won't accept applications until 2010. For someone who just hit the wrong company it's quite harsh."

Of alternative career choices, management consultancy came top with 36%, closely followed by accountancy.  It was thought by those questioned that these sectors may prosper in a downturn because others will be turning to them for advice and support.  Business intelligence and market research were attractive to 26% of the sample, and careers in advertising, marketing or public relations would be of interest to 22%.  New media and transport careers were least likely to be considered, with only 7% of respondents expressing any interest.