Hey there! Sign in to join this conversationNew here? Join for free
    • Thread Starter
    Offline

    8
    ReputationRep:
    Recently accepted a graduate position at Nomura and looking at all the cuts being made at the moment (around 1000 jobs in EMEA), it begs to ask how secure is your job as a graduate? Do I need to start looking at another position as soon as I join?? or are graduates generally in a better position? Thanks!
    Offline

    20
    ReputationRep:
    not sure about nomura specifically, but been speaking to some seniors at other banks and the general trend is cuts at ~director level / non-core staff, where costs are analysed relative to the necessity the operations hold and the revenue (value add) they generate.
    Offline

    20
    ReputationRep:
    (Original post by OnimushaGTA)
    Recently accepted a graduate position at Nomura and looking at all the cuts being made at the moment (around 1000 jobs in EMEA), it begs to ask how secure is your job as a graduate? Do I need to start looking at another position as soon as I join?? or are graduates generally in a better position? Thanks!
    Analysts are normally the last to go.

    Posted from TSR Mobile
    Offline

    2
    ReputationRep:
    (Original post by OnimushaGTA)
    Recently accepted a graduate position at Nomura and looking at all the cuts being made at the moment (around 1000 jobs in EMEA), it begs to ask how secure is your job as a graduate? Do I need to start looking at another position as soon as I join?? or are graduates generally in a better position? Thanks!
    I agree with some other posts, that usually as analyst you should be fine.

    Here is the big BUT: standard contract contains a 6 months probation period. if things turn sour, you will be asked to leave after six months. its happening right now, mostly in S&T. Where? At least at one large US BB..over 50% of Grads who started last summer have not been hired after 6 months (i.e. were allocated a desk). They are either out, or got a new probation period of (usually) 3 months and keep on rotating across the floor, until somebody gets a head count. Or they try to transfer to M&A and Eqt Research.

    Things are taugh atm...
    • Thread Starter
    Offline

    8
    ReputationRep:
    (Original post by Ducar111)
    I agree with some other posts, that usually as analyst you should be fine.

    Here is the big BUT: standard contract contains a 6 months probation period. if things turn sour, you will be asked to leave after six months. its happening right now, mostly in S&T. Where? At least at one large US BB..over 50% of Grads who started last summer have not been hired after 6 months (i.e. were allocated a desk). They are either out, or got a new probation period of (usually) 3 months and keep on rotating across the floor, until somebody gets a head count. Or they try to transfer to M&A and Eqt Research.

    Things are taugh atm...
    Yeah that's the annoying thing in the contract I saw, the probation period of 6 months. Can I ask which large US BB? But man, not getting through the probation period must be such a killer!
    Offline

    15
    ReputationRep:
    (Original post by OnimushaGTA)
    Recently accepted a graduate position at Nomura and looking at all the cuts being made at the moment (around 1000 jobs in EMEA), it begs to ask how secure is your job as a graduate? Do I need to start looking at another position as soon as I join?? or are graduates generally in a better position? Thanks!
    Dunno much as I am just a uni student so don't take my word for it but I would think people in the industry accept the risk that it is not a stable career and are open minded in the sense they are aware they will be moving around in the future, it's rare to stick at the same bank throughout your career, when I did one of my spring weeks at Nomura all the senior people had previously worked at various other banks, many ex Lehman obviously, but people came from Goldman, BAML, Deutsche etc..

    Also you meet associates who are in different roles to what they initially started in, my MS interviewer started in Fixed Income and is now working in Research. I then met someone at MS who works in IBD and is in the middle of switching to a completely different division.

    I would just accept the fact that it isn't the traditional job people go for and you will most likely be moving around banks or roles at some point in your career.

    P.S congrats on gaining a grad role at Nomura that's seriously impressive!
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Brussels sprouts
    Useful resources

    Articles:

    Guide to investment bankingGuide to consultancy

    Featured recruiter profiles:

    Deutsche Bank logo

    Deutsche Bank is recruiting

    "Thrive in an international banking environment"

    Quick link:

    Unanswered investment banking and consultancy threads

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.