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    (Original post by Trapz99)
    I got it from here: http://news.efinancialcareers.com/uk...rs-experience/

    It also suggests that pay depends a lot on the bank as well
    Apparently JP Morgan, MS and DB pay more than the others
    Not bad.. Looks like risk has decent upside too

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    (Original post by Princepieman)
    Not bad.. Looks like risk has decent upside too

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    Damn I didn't expect that much. Roughly how old would a VP be?
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    (Original post by serions871)
    Damn I didn't expect that much. Roughly how old would a VP be?
    Probably late 20s to early thirties. Depending on how long they stay at the Associate level
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    (Original post by serions871)
    Damn I didn't expect that much. Roughly how old would a VP be?
    OP I know the salary is good but keep in mind lull be working very long hours and be shouted at by traders and you'll have to deal with that kind of atmosphere. I've heard plenty of times that back office (especially risk) have to take the blame for anything that goes wrong but never get any credit because they don't generates any revenue- they're just a cost for the bank.
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    (Original post by Ladbants)
    OP I know the salary is good but keep in mind lull be working very long hours and be shouted at by traders and you'll have to deal with that kind of atmosphere. I've heard plenty of times that back office (especially risk) have to take the blame for anything that goes wrong but never get any credit because they don't generates any revenue- they're just a cost for the bank.
    It's mainly the analysts who get shouted at. I doubt many of the VPs and MDs in risk spend their days getting shouted at as much as the analysts do.
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    Work experience and positions of responsibility.

    They want to see that you're active and have done stuff - this is true for pretty much all employers.
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    (Original post by Elivercury)
    Work experience and positions of responsibility.

    They want to see that you're active and have done stuff - this is true for pretty much all employers.
    (Original post by Elivercury)
    Work experience and positions of responsibility.

    They want to see that you're active and have done stuff - this is true for pretty much all employers.
    One can't just get work experience in banking, except through internships which are really competitive to get into,
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    (Original post by Trapz99)
    One can't just get work experience in banking, except through internships which are really competitive to get into,
    Right, and getting into investment banking is competitive. Actually getting any job these days is pretty competitive.

    If the OP doesn't want competition, I suggest he abandons this path now and applies to do something else.

    Assuming he does, he should get positions of responsibility at university and work experience that isn't necessarily banking. Use these to get onto internships, use the internships to get the jobs.

    It's not easy, but it's the best way. Likewise he should be using his careers department to help his CV/Applications stand out, using any contacts he may have and generally making this a goal rather than a vague ambition.
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    (Original post by Elivercury)
    Right, and getting into investment banking is competitive. Actually getting any job these days is pretty competitive.

    If the OP doesn't want competition, I suggest he abandons this path now and applies to do something else.

    Assuming he does, he should get positions of responsibility at university and work experience that isn't necessarily banking. Use these to get onto internships, use the internships to get the jobs.

    It's not easy, but it's the best way. Likewise he should be using his careers department to help his CV/Applications stand out, using any contacts he may have and generally making this a goal rather than a vague ambition.
    Tbh some work experience and leadership positions is just the minimum required to have a chance, the top candidates have that + banking experience.
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    (Original post by Terry Tibbs)
    Tbh some work experience and leadership positions is just the minimum required to have a chance, the top candidates have that + banking experience.
    I'm sure, relevant experience plus leadership positions is the norm for many jobs these days. But unless they're going to throw in the towel the OP just needs to do the best they can to gain work experience, leadership positions and ideally relevant banking experience. Can't really do much more than that (unless you've some suggestions?).
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    (Original post by gr8wizard10)
    speak to alumni working in risk and gather their advice, otherwise apply to the formal programmes > spring weeks > summer internships > graduate scheme, in each of your years at university.

    most of the larger investment banks would offer programmes in business functions
    (Original post by Princepieman)
    Not on its own, risk is grouped with the IBD SW.

    Most banks will have a group functions spring week OP and some might be across all divisions. But as has been said already, there's a standard pipeline you apply to whilst at uni.

    I'd go to CanaryWharfian for the basic how to stuff.

    In the meantime, keep building up your CV. Try getting involved in some extra curricular activities - both at uni and now, look out for opportunities to lead, work on your presentation/communications skills, try to network with current risk alumni from UCL etc..


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    Hi guys, thanks for answering my question. I have a friend who's going to Bristol this year who also wants to work in market risk. I passed on your advice to him but since he doesn't go to a target uni he's wondering what extra things he needs to do to get into finance. Is it still possible for him to get into banking from Bristol or does he need to do an MSc somewhere else?
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    (Original post by serions871)
    Hi guys, thanks for answering my question. I have a friend who's going to Bristol this year who also wants to work in market risk. I passed on your advice to him but since he doesn't go to a target uni he's wondering what extra things he needs to do to get into finance. Is it still possible for him to get into banking from Bristol or does he need to do an MSc somewhere else?
    Bristol is a strong semi-target there is really no need to get an MSc (it should be a last resort), and the whole target thing doesn't even apply for risk anyway.

    He should join the investment and finance soc at Bristol, pretty cool people there, I know a few personally that have landed front office roles at BBs.

    As for setting him self apart, standard stuff man: positions of responsibility, extracurriculars, awards, good grades etc..

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    (Original post by Princepieman)
    Bristol is a strong semi-target there is really no need to get an MSc (it should be a last resort), and the whole target thing doesn't even apply for risk anyway.

    He should join the investment and finance soc at Bristol, pretty cool people there, I know a few personally that have landed front office roles at BBs.

    As for setting him self apart, standard stuff man: positions of responsibility, extracurriculars, awards, good grades etc..

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    Thanks. I'll them him that. So for risk, banks don't have a strong preference towards target unis?
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    (Original post by serions871)
    Thanks. I'll them him that. So for risk, banks don't have a strong preference towards target unis?
    There are people from London met working in middle office roles at BBs- as long as your friend has the right skills, extracurriculars and interview skills he has a good chance. Bristols a very good university with a lot of really intelligent students.
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    Lads, I have one final question. I only realised this when I saw a recent thread here about trading which had a link to this: http://news.efinancialcareers.com/uk...y-mckinsey-co/

    Basically, risk jobs are screwed for future and are going to be automated. Do you guys think that I should pursue a different career? I was considering audit grad schemes as well...
    I do know how to program in Python and R and a little bit of matlab so do you think that will help me not replaced by a robot if I do work in risk?
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    (Original post by serions871)
    Lads, I have one final question. I only realised this when I saw a recent thread here about trading which had a link to this: http://news.efinancialcareers.com/uk...y-mckinsey-co/

    Basically, risk jobs are screwed for future and are going to be automated. Do you guys think that I should pursue a different career? I was considering audit grad schemes as well...
    I do know how to program in Python and R and a little bit of matlab so do you think that will help me not replaced by a robot if I do work in risk?
    No.

    If everyone followed the "Your job will be sent overseas", "Your job will be automated" brigade that has been around for decades now, no one would get anything done.

    So stick with it and stop worrying because of some analysis McKinsey did.

    Although yes, definitely learn to code.

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    (Original post by Princepieman)
    No.

    If everyone followed the "Your job will be sent overseas", "Your job will be automated" brigade that has been around for decades now, no one would get anything done.

    So stick with it and stop worrying because of some analysis McKinsey did.

    Although yes, definitely learn to code.

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    But clearly it does seem like risk jobs are being automated. I mean, risk guys are just a cost to the bank so I can see why they'd want to automate these jobs. In the case that I do get a risk job but it does get automated, is there anything I could do to get a job?
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    (Original post by serions871)
    But clearly it does seem like risk jobs are being automated. I mean, risk guys are just a cost to the bank so I can see why they'd want to automate these jobs. In the case that I do get a risk job but it does get automated, is there anything I could do to get a job?
    Look man, risk is not going anywhere for the forseeable future. It is actually a growth area of the bank (alongside Compliance) nowadays as banks cut back to meet capital requirements.

    So calm down, and keep focused. If it doesn't work out it's not the end of the world.

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    Risk is getting automated, yes, that doesn't mean that there will be zero jobs in the future- just that these jobs will probably be paid less than they are today since demand toes down for humans in risk. Market risk is ****ed yes but there are other areas of risk like quants who will have jobs.
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    (Original post by Princepieman)
    It's still better than big4 pay...

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    This. I work at a Big 4.
 
 
 
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