Brexit on Investment Banking Jobs

So... Brexit actually won. I'm half happy but half concerned about my future at the same time as we see Banks threatening to shift their HQs and jobs from London to EU. How will this affect summer internships and graduate prospect? Thoughts? :s-smilie:

Reply 1

gr8wizard10

21

if you're happy about brexit then banking might not be for you

Reply 2

999tigger

19

Original post by benedictblue

So... Brexit actually won. I'm half happy but half concerned about my future at the same time as we see Banks threatening to shift their HQs and jobs from London to EU. How will this affect summer internships and graduate prospect? Thoughts? :s-smilie:

Did you vote for Brexit?

Reply 3

andrewUK

Original post by benedictblue

So... Brexit actually won. I'm half happy but half concerned about my future at the same time as we see Banks threatening to shift their HQs and jobs from London to EU. How will this affect summer internships and graduate prospect? Thoughts? :s-smilie:

the banking sector is gonna be hit worse than 2007 credit crunch. honestly for young people trying to get internships and jobs in banks there aint much hope. there will be lots of competition for places and honestly your gonna be working intensely.
as someone who studied economics why banks would chose to remain in the UK rather than moving to the EU or Hong Kong is beyond me

Reply 4

Trapz99

21

There will be fewer jobs but if you're good enough you will still get in. It's not like banking going to disappear. No way.

And there's always accounting or actuarial work that you could go into. Or learn German and move to Germany. I am semi-proficient so if I become fluent I could probably do that,

(edited 7 years ago)

Reply 5

chemting

16

Original post by andrewUK

the banking sector is gonna be hit worse than 2007 credit crunch.

They'll take a hit, but surely it won't be that bad?

Posted from TSR Mobile

Reply 6

benedictblue

OP

3

Original post by gr8wizard10

if you're happy about brexit then banking might not be for you

I'm happy/optimistic in the long run, but worried in the short term.

Reply 7

benedictblue

OP

3

Original post by 999tigger

Did you vote for Brexit?

Nope

Reply 8

squish562

2

Most voters don't care about these bankers. We care about our sovereignty, our freedoms and values that our ancestors fought for which are threatened with by the EU, not whether the bankers get to keep their jobs or not.

If you can't get into banking, boo hoo. Get another job. Something that actually helps our society.

Reply 9

chemting

16

I'm never said I was a leave voter :biggrin:

but assume away :dontknow:

I just advocated for the markets to stabilise before making conclusions

Posted from TSR Mobile

Reply 10

andrewUK

Original post by squish562

Most voters don't care about these bankers. We care about our sovereignty, our freedoms and values that our ancestors fought for which are threatened with by the EU, not whether the bankers get to keep their jobs or not.

If you can't get into banking, boo hoo. Get another job. Something that actually helps our society.

You do know banking is Britain strongest most powerful industry. its the reason why we are one of the strongest economies in the world
-london generates approximately 22 per cent of the UK's GDP
-its worth 90 billion
smh

Reply 11

Gora The Xplorer

8

Original post by andrewUK

You do know banking is Britain strongest most powerful industry. its the reason why we are one of the strongest economies in the world
-london generates approximately 22 per cent of the UK's GDP
-its worth 90 billion
smh

Most EU trade deals are based on movement of tangible goods rather than financial services. With the possibility of a financial transaction tax in Europe ifthe UK plays it's cards right we will likely be ok.

I voted remain and I recognise how disruptive this is, but lets not lose all perspective here

Reply 12

username738914

21

I can see a lot shifting around of HQs and jobs happening but that'll mostly be the trading/markets teams. IBD will still be here in London and most back office will be here too.

Definitely a poor outcome for the country and industry.

Posted from TSR Mobile

Reply 13

andrewUK

Original post by Gora The Xplorer

Most EU trade deals are based on movement of tangible goods rather than financial services. With the possibility of a financial transaction tax in Europe ifthe UK plays it's cards right we will likely be ok.

I voted remain and I recognise how disruptive this is, but lets not lose all perspective here

fair point
i was just showing how reductions in trade with the EU leads to less investment which leads to a weaker financial sector. and then i highlighted the importance of the finanical sector.
the uk could be ok if we maintain access into the single market but given the stance of over EU countries i cant see this happening. unless we give up some control of immigration like norway. however i cant see people who wanted to leave approving this

Reply 14

Ladbants

21

Original post by Princepieman

I can see a lot shifting around of HQs and jobs happening but that'll mostly be the trading/markets teams. IBD will still be here in London and most back office will be here too.

Definitely a poor outcome for the country and industry.

Posted from TSR Mobile

Well I'm ****ed then.

Reply 15

Gora The Xplorer

8

Original post by andrewUK

fair point
i was just showing how reductions in trade with the EU leads to less investment which leads to a weaker financial sector. and then i highlighted the importance of the finanical sector.
the uk could be ok if we maintain access into the single market but given the stance of over EU countries i cant see this happening. unless we give up some control of immigration like norway. however i cant see people who wanted to leave approving this

I'm hopeful we'll get some sort of deal on freedom of movement for EU citizens and that the Brexiteers will be too drunk/delusional to even notice. The EU can try to screw us over to make a demonstration to other EU countries hoping to leave, but we were one of the most significant net contributors along with Germany and France. Their position is far too weak right now to cut off their nose merely to spite their face. Southern Europe is total basketcase right now, I doubt Mr. Juncker would be able to sell poverty to Dutch and German businesspeople for the sole purpose of screwing the Brits.

(edited 7 years ago)

Reply 16

midgetspinner

18

Learn German while at University and move to Frankfurt

Reply 17

andrewUK

Original post by glebp

Learn German while at University and move to Frankfurt

Don't see much point. even tho i wanted to remain i doubt the EU will survive for more than 5 years. 60 years of peace, unity and stability gone like a fart in the wind