What exactly is an IB grad scheme?

hey, im doing a degree in software engineering, and i go to (for IB at least) a non target uni (like not even semi)

but my question is..what exactly are IB grad schemes? is it like a specific role within banks or do people use it to mean a bunch of different roles in a bank

but also, does the whole "if you dont go to a target your chances of getting in are slimmer" thing apply to other types of grad schemes in banks..for example, the tech one at Barclays or Lloyds bank? Idk if i want to do software engineering after uni but would prefer something to do with tech / data / something in finance like audit (ik its very different lol) so i was just wondering if its feasible for me to go into :smile:

thankyou!

Reply 1

Al3x235

Original post by Al3x235

hey, im doing a degree in software engineering, and i go to (for IB at least) a non target uni (like not even semi)
but my question is..what exactly are IB grad schemes? is it like a specific role within banks or do people use it to mean a bunch of different roles in a bank
but also, does the whole "if you dont go to a target your chances of getting in are slimmer" thing apply to other types of grad schemes in banks..for example, the tech one at Barclays or Lloyds bank? Idk if i want to do software engineering after uni but would prefer something to do with tech / data / something in finance like audit (ik its very different lol) so i was just wondering if its feasible for me to go into :smile:

thankyou!

bump

Reply 2

nutz99

Original post by Al3x235

hey, im doing a degree in software engineering, and i go to (for IB at least) a non target uni (like not even semi)
but my question is..what exactly are IB grad schemes? is it like a specific role within banks or do people use it to mean a bunch of different roles in a bank
but also, does the whole "if you dont go to a target your chances of getting in are slimmer" thing apply to other types of grad schemes in banks..for example, the tech one at Barclays or Lloyds bank? Idk if i want to do software engineering after uni but would prefer something to do with tech / data / something in finance like audit (ik its very different lol) so i was just wondering if its feasible for me to go into :smile:

thankyou!

I don't think the IB grad schemes are really what you are looking for. The role would be as a trainee analyst working for an Investment Bank, usually in London. Fairly high salary but very long hours. Most of the applicants would come from target unis and are likely to have a degree in Economics, Maths or Finance. A lot of people literally burn out within a few years because it is such a stressful job.

Most of the larger accountancy firms and banks have vacancies in grad schemes that would probably suit you. Generally, to apply for these roles you would require a 2.1 minimum in your degree and they are likely to have some form of requirement for A levels. What uni you went to is usually immaterial and for most roles so is your degree. For Audit roles they accept any degree but for Tech roles they may require a computer based degree so you'd be ok on that side too. Have a look at these links to get an idea of what is out there or will be out there soon. Most of these roles open applications around September time and close them when they have enough applicants. If the coming year is year 3 for you then start applying asap.

https://www.hsbc.com/careers/students-and-graduates/graduate-opportunities/technology-data-graduate-programme?tab=tab-0
https://www.lloydsbankinggrouptalent.com/our-opportunities/graduates/compare-our-graduate-schemes/
https://www.pwc.co.uk/careers/early-careers/our-programmes/graduate-opportunities/audit.html
https://www.pwc.co.uk/careers/early-careers/our-programmes/graduate-opportunities/technology.html
https://www.kpmgcareers.co.uk/graduate/audit/
https://www.kpmgcareers.co.uk/graduate/technology-engineering/

I would also add to apply to as many as you can as some of these roles are very competitive and it is normal to get plenty of rejections.

Reply 3

BoiBaba

Original post by Al3x235

hey, im doing a degree in software engineering, and i go to (for IB at least) a non target uni (like not even semi)
but my question is..what exactly are IB grad schemes? is it like a specific role within banks or do people use it to mean a bunch of different roles in a bank
but also, does the whole "if you dont go to a target your chances of getting in are slimmer" thing apply to other types of grad schemes in banks..for example, the tech one at Barclays or Lloyds bank? Idk if i want to do software engineering after uni but would prefer something to do with tech / data / something in finance like audit (ik its very different lol) so i was just wondering if its feasible for me to go into :smile:

thankyou!

Investment Banking in general is about helping companies raise capital. You have three main "divisions" within IB as a whole:

•

M&A (Mergers & Acquisitions): basically, you're either advising companies on whether they should buy or merge with a company, or you're helping owners to sell their companies. You can also help them raise liquidity to finance that operation, sometimes lending them money from the bank (in the case of a buy-side mandate).

•

DCM (Debt Capital Markets): you're helping a company raising liquidity by selling their bonds.

•

ECM (Equity Capital Markets): same as DCM but you're selling shares instead of bonds.

In any case, an investment banker needs to work well under pressure, to be endurant, good with clients, good to work in a team with, good analytical skills, knows financial modeling... I'm sure someone will complete the list if I forgot something.
The pay is good and the exit opportunities are many, but the hours are long and the first years are notoriously brutal. IB has one of the highest turnovers, all industries included.

I agree with @nutz99 however. Judging from your profile, IB doesn't look to be the path you should pursue. However there are a lot of graduate schemes for software engineering, and such profiles are in high demand, whether from banks or from accountancy firms.

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