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    I'm thinking of a career down this line and I'm quite knowledgable in it.
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    (Original post by InterCity125)
    One more question - I am very interested in politics and am active in my local area - I hope to continue this at university - would this be a useful thing when it comes to applying for work placements/jobs?
    Thanks
    It depends on what you want to do. For stuff like law, consultancy and any pre-graduate jobs, it's pretty useful, for IB/finance it isn't at all really, just a bit of evidence that you're 'rounded'. No point saying "I have an interest in politics" though, you need to prove it, eg with an elected position. Even if it's not that useful when applying for jobs, it's a bit of fun (provided you don't take it too seriously and let it take over your life as it has done for people here), and a good way to pass the time.

    What are your political interests? OUCA (Tory) and OULC (Labour) are pretty big here, as is the Union ("world's most famous debating society"), OUSU (notoriously left-wing) and college JCRs (fairly insignificant).
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    (Original post by BossLady)
    I'll join Jools! (birthday buddy )
    Oh...you want me to pm my background (the bit that relates to the soc lol)?
    I was just wondering, how did you come across such a summer placement, is it because you go to one of the best private schools around the London area and therefore more informed on what is available to you? I knew they existed for university students in their penultimate year, but not A-level finalists. btw if you were to do not so well in your exams would you still get on the placement?
    I'd have applied for a placement but as my school is crap and our careers adviser is invisible there wasn't much chance there, oh well I'll plod on this summer with Sainsbury's.
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    (Original post by PuffDaddy)
    I was just wondering, how did you come across such a summer placement, is it because you go to one of the best private schools around the London area and therefore more informed on what is available to you? I knew they existed for university students in their penultimate year, but not A-level finalists. btw if you were to do not so well in your exams would you still get on the placement?
    The particular Programme that i have a place on is aimed at encouraging more women into the industry(i attend an all girls schl). The IB sent my school(& some others) info about it.

    As far as I'm aware, my place isn't conditional on my A level grades. As it is, good grades/good uni offers i suspect are a foregone conclusion amongst all applicants applying for any IB.
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    (Original post by Jools)
    It depends on what you want to do. For stuff like law, consultancy and any pre-graduate jobs, it's pretty useful, for IB/finance it isn't at all really, just a bit of evidence that you're 'rounded'. No point saying "I have an interest in politics" though, you need to prove it, eg with an elected position. Even if it's not that useful when applying for jobs, it's a bit of fun (provided you don't take it too seriously and let it take over your life as it has done for people here), and a good way to pass the time.

    What are your political interests? OUCA (Tory) and OULC (Labour) are pretty big here, as is the Union ("world's most famous debating society"), OUSU (notoriously left-wing) and college JCRs (fairly insignificant).
    Which bank are you interning at, if you don't mind me asking. is it in the city or Docklands?
    I've heard that these internships pay pretty well, don't worry i won't ask how much.
    Is a first in your first year a prerequisite to landing an internship?
    On your programme which universities do students mainly come from?
    Thanks
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    (Original post by PuffDaddy)
    I was just wondering, how did you come across such a summer placement, is it because you go to one of the best private schools around the London area
    I'm not sure that BossLady attends St. Paul's Girls' School, but the latter is certainly a place to which IB's just turn up offering short summer placements. It seems you barely even have to make an effort to get in.
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    (Original post by Jools)
    It's not so much swotting up on publications as just following what's happening on a near daily basis... if FT doesn't take your fancy, then BBC Business Online, Bloomberg, CNBC etc.
    You mean people actually read the Financial Times? They must be superhuman, not that the content is challenging, just that I fall asleep even thinking about it. "Company X has increased it's output by 0.0000043%, renewed forcasts suggest this will increase by an extra 0.0000054% in the next half..." ZZZZZZZZzzzzzzzz
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    (Original post by H&E)
    I think part of the reason why the preference for Economists is so extra-ordinarily acute is that you're discussing a very limited position. I don't know how long your internship is, but I'd be surprised if it exceeds 10 weeks. There just isn't the time to teach people things they lack the basic skills for. However, for full time employment, there is much more flexibilty with teaching people things from scratch and therefore economists/mathematicians have a reduced advantage. Having said that, any application without evidence of high competence in all the key skills (numeracy, literacy, data analysis and interpreation, etc) is going to seriously struggle and this may affect, say, Classicists more than Economists.
    I don't think it's a case of them favouring any subject greatly, in my experience it's just the case that most applicants come from an Economic/Finance/Maths background, so the internships given out reflect this. Haven prior Economics knowledge won't help much, on my internships I didn't need anything beyond A-Level knowledge, possible at a push simple first year undergraduate.
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    (Original post by BazTheMoney)
    I don't think it's a case of them favouring any subject greatly, in my experience it's just the case that most applicants come from an Economic/Finance/Maths background, so the internships given out reflect this. Haven prior Economics knowledge won't help much, on my internships I didn't need anything beyond A-Level knowledge, possible at a push simple first year undergraduate.
    Fair point
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    (Original post by PuffDaddy)
    I've heard that these internships pay pretty well, don't worry i won't ask how much.
    It's fine, a few are asking out of interest. £500/week for 10-12 weeks. At the 'bulge bracket' banks this can be £650-700/week for 12 weeks for penultimate year internships. But the workload means this could equate to under £10/hr!
    (Original post by PuffDaddy)
    Is a first in your first year a prerequisite to landing an internship?
    Definitely not a prerequisite, I met a guy who is interning at Goldman Sachs who got a 3rd in his first year. But a 1st is useful to stand out from the crowd, as competition gets fiercer year on year.
    (Original post by PuffDaddy)
    On your programme which universities do students mainly come from?
    I'm at a 'tier 2' bank; LSE and Nottingham are popular locations. At the bulge bracket places Oxbridge and LSE are the most dominant.
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    ABN AMRO, Dutch bank. Awesome building.
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    (Original post by Jools)
    This one.
    cool, I think I know them; offices on Bishopsgate I think.
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    Yep. It's an awesome building.
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    (Original post by H&E)
    I think part of the reason why the preference for Economists is so extra-ordinarily acute is that you're discussing a very limited position. I don't know how long your internship is, but I'd be surprised if it exceeds 10 weeks. There just isn't the time to teach people things they lack the basic skills for. However, for full time employment, there is much more flexibilty with teaching people things from scratch and therefore economists/mathematicians have a reduced advantage.
    But these days when there's 60+ applicants per place at the big banks, if you don't get an internship somewhere in the first place it might be quite a struggle to get a graduate offer.
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    (Original post by BazTheMoney)
    I don't think it's a case of them favouring any subject greatly, in my experience it's just the case that most applicants come from an Economic/Finance/Maths background, so the internships given out reflect this.
    I don't think those applying met the 95:5 finance:non finance ratio that's evident for those accepted. A lot of people doing History, English etc particularly at top 10 unis try entering the city and get knocked back. As I said it's not that surprising when the competition is fierce for an employer to choose a 'safe bet' economics or maths student rather than taking a risk with someone evidently good at their arts subject but with not so much evidence of numeric skills. And even then, I know someone doing Theology who has a lot of financial experience (business manager, treasurer...) who didn't get very far with IBs - employers may also (fairly) reckon that those studying a related degree are likely to have more genuine primary interest in the field.
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    (Original post by Jools)
    But these days when there's 60+ applicants per place at the big banks, if you don't get an internship somewhere in the first place you have next to no chance of getting a graduate offer.
    I suppose that must be a difference between the really big banks and the less major ones.
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    (Original post by H&E)
    I suppose that must be a difference between the really big banks and the less major ones.
    Yeah. But for investment banking, there's not that many smaller organisations. To be successful you need a proven track record with an impressive client database. The cost of the essential technology and software to deal with equity, bond, FX etc transactions is massive. Which means being big.
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    I wouldn't want to work for an IB, but accounting seems a very attractive prospect.
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    It's notorious for being a bit boring though, and where a lot of grads head off to if they don't succeed with IB applications. Btw I know you're looking at doing an arts degree, but if you are considering Accounting then I'd say go for Maths and another science (/Economics) at AS/A2.
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    (Original post by Jools)
    It's notorious for being a bit boring though, and where a lot of grads head off to if they don't succeed with IB applications. Btw I know you're looking at doing an arts degree, but if you are considering Accounting then I'd say go for Maths and another science (/Economics) at AS/A2.
    Well I'd prefer to just do a degree I enjoy then do CIMA if I was to go down that route.
 
 
 
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