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Old 20.04.2013, 01:40
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Eastern Europeans in Banking Sector!

Hi evryone,

I'm a Romanian national, currently living and studying in Hungary and am about to graduate this year. I'm studying Finance in quite a prestigious double degree business school (british & hungarian) and getting some additional professional qualifications besides. I speak fluently 4 languages (incl. German) and strive to learn French in the meantime. In addition, I have one year of relevant work experience in well known financial institutions.

My questions are the following:
1) Is there any feasible chance to get a full time job in Swiss banking sector (preferrably German speaking part) after graduation?
2) Is there any specific education requirement for fresh graduates (only Swiss or top european universities)?
3) What is the general perception of eastern europeans in this sector?
4) Is banking sector a "closed club" only for particular people?
5) How do Swiss financial institutions tolerate foreigners in general?
6) All other things being equal, is there any visible discrimination in terms of promotion and growth opportunities?

I would highly appreciate any response for the above questions, since these are important aspects upon which I can build my general opinion.

Enjoy your weekend
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Old 20.04.2013, 09:47
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Re: Eastern Europeans in Banking Sector!

If you are a hard worker and know what you are doing then these people are considered very highly.
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Old 20.04.2013, 09:55
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Re: Eastern Europeans in Banking Sector!

Thanks for reply, sounds encouraging, although a bit general..
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Old 20.04.2013, 10:08
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Re: Eastern Europeans in Banking Sector!

Onservation is that there is no real discrimiation against these nationaliities and generally the finanancial institutiona are quite welcoming of foreigners. However this comment applies most to the corporate head offices in those offices witha lot of swiss and where swiss german dominates then it is much harder to really progress very quickly.

You will be fine but target the corporate functions where there is a large variety of foreigners
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Old 20.04.2013, 10:25
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Re: Eastern Europeans in Banking Sector!

Thanks Wallabies, appreciate your advice, I'm just overwhelmed with different threads saying how nationalistic Swiss people are and how uncomfortable foreigners feel there. You never know before you try it yourself... Thanks again.
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Old 20.04.2013, 22:21
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Re: Eastern Europeans in Banking Sector!

Have you ever watched movie Alien from 87, I think. That is how you gonna be seen as Alien and monster.

If you by now living in Romania did not learn anything about EU (US too) you will never have. Do not fall on semi-truth and lies about the West. Folks from "peripheral" states, simply, aren't welcomed - with or without education.
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Old 20.04.2013, 22:35
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Re: Eastern Europeans in Banking Sector!

That is the silliest thing i have heard so far ) I am from Romania and i work in an all swiss company. I was very well received by everyone here and get along very well with my work colleagues.
There are, of course the isolated cases of locals who don't welcome foreigners in general, but that's a different topic.
If you do your job nobody will have anything against you, don't worry.
@Genralist: try big companies like Syngenta in Basel I have some east-european friends who are very happy there

Good luck!

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Folks from "peripheral" states, simply, aren't welcomed - with or without education.
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Old 20.04.2013, 22:37
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Re: Eastern Europeans in Banking Sector!

I disagree.. There always is a bunch of people who say how evil immigrants are, but the vast majority doesn't really care, cause it's just a political game. I believe it doesn't really matter where you're from as long as you are a real professional in your area.. Might sound too naive but the only alternative is to earn 500-600 eur/month and always think about how unwelcomed you are in the West...
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Old 20.04.2013, 22:40
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Re: Eastern Europeans in Banking Sector!

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That is the silliest thing i have heard so far ) I am from Romania and i work in an all swiss company. I was very well received by everyone here and get along very well with my work colleagues.
There are, of course the isolated cases of locals who don't welcome foreigners in general, but that's a different topic.
If you do your job nobody will have anything against you, don't worry.
@Genralist: try big companies like Syngenta in Basel I have some east-european friends who are very happy there

Good luck!
Thanks cristina.m, I definitely will Good luck with your job!
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Old 20.04.2013, 23:01
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Re: Eastern Europeans in Banking Sector!

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Have you ever watched movie Alien from 87, I think. That is how you gonna be seen as Alien and monster.

If you by now living in Romania did not learn anything about EU (US too) you will never have. Do not fall on semi-truth and lies about the West. Folks from "peripheral" states, simply, aren't welcomed - with or without education.


The West is evil? Monster, alien?
Thanks for enlightening me, I am now on my way to Bangladesh.
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Old 21.04.2013, 00:55
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Re: Eastern Europeans in Banking Sector!

I, for one, am always enjoying when I'm seeing a people who live in harmony and happiness.

However, one thing that bugs me is that behind facade of artificial politeness is innate lie which is euphemistically named "multiculturalism" and/or so-called political correctness.
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Old 21.04.2013, 08:15
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Re: Eastern Europeans in Banking Sector!

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I, for one, am always enjoying when I'm seeing a people who live in harmony and happiness.

However, one thing that bugs me is that behind facade of artificial politeness is innate lie which is euphemistically named "multiculturalism" and/or so-called political correctness.
I do not know why you have these strong feelings. Maybe some info about your past could help? Why are you still there, if it is so bad?
I can see multiculturalism is not your cup of tea, yet you still live in the USA. You also talk about political correctness, which is clearly a big deal over there, but not so much here.
At the end of the day, it is your attitude that counts. If you choose to feel unwelcome, well. probably you can even find reasons for that and nothing can stop you. But why shouldn't we take things for what they really are? The world is much more open than 20 something years ago.

Quote:
My questions are the following:
1) Is there any feasible chance to get a full time job in Swiss banking sector (preferrably German speaking part) after graduation?
2) Is there any specific education requirement for fresh graduates (only Swiss or top european universities)?
3) What is the general perception of eastern europeans in this sector?
4) Is banking sector a "closed club" only for particular people?
5) How do Swiss financial institutions tolerate foreigners in general?
6) All other things being equal, is there any visible discrimination in terms of promotion and growth opportunities?
1. Yes
2. No
3. Like in any other field, there are quite a few of them so they are not that bad....
4. It is not a closed club, but definitely "more closed" than others. You need persistence. Maybe start with an internship.
5. They are.
6. Not really.

Dont listen to the fear mongers. apply for any job you see fit for you. I cringe when I read these topics because I realize how little courage we have and believe me you have no reasons for that. Good luck.

Last edited by greenmount; 21.04.2013 at 08:27.
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Old 21.04.2013, 09:40
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Re: Eastern Europeans in Banking Sector!

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1. Yes
2. No
3. Like in any other field, there are quite a few of them so they are not that bad....
4. It is not a closed club, but definitely "more closed" than others. You need persistence. Maybe start with an internship.
5. They are.
6. Not really.

Dont listen to the fear mongers. apply for any job you see fit for you. I cringe when I read these topics because I realize how little courage we have and believe me you have no reasons for that. Good luck.
Thanks for your guideline greenmount, I appreciate that. At the moment I'm considering 2 options: applying for a masters program at St. Gallen or applying to entry-level position. Which one would you suggest?
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Old 21.04.2013, 10:18
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Re: Eastern Europeans in Banking Sector!

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Thanks for your guideline greenmount, I appreciate that. At the moment I'm considering 2 options: applying for a masters program at St. Gallen or applying to entry-level position. Which one would you suggest?
Although I am not in the business sector, the same rules apply in most fields. Entry-level positions are usually easier to get, but may be more difficult to move up from without further education. Having a masters will certainly increase your attractiveness, but having more education will likely qualify you for higher/more well-paid positions that have much more competition.

Having hired recent graduates, undergraduate degrees typically are deemed equal; with only a few exceptions. Experience and references matter most.
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Old 21.04.2013, 13:09
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Re: Eastern Europeans in Banking Sector!

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Thanks for your guideline greenmount, I appreciate that. At the moment I'm considering 2 options: applying for a masters program at St. Gallen or applying to entry-level position. Which one would you suggest?
From your future career perspectives point of view, I would choose the masters program, and also because, on the other hand, it is another somehow safer way to get your foot in the door. If you choose to apply for entry-level positions, make sure to customize your resume for every job and don't just send it to anyone and to everywhere. I am sure you already know that, just wish to reinforce the importance of this idea.
But, you are young so get as many qualifications as you can.
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Old 21.04.2013, 14:52
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Re: Eastern Europeans in Banking Sector!

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I do not know why you have these strong feelings. Maybe some info about your past could help? Why are you still there, if it is so bad?
I can see multiculturalism is not your cup of tea, yet you still live in the USA. You also talk about political correctness, which is clearly a big deal over there, but not so much here.
At the end of the day, it is your attitude that counts. If you choose to feel unwelcome, well. probably you can even find reasons for that and nothing can stop you. But why shouldn't we take things for what they really are? The world is much more open than 20 something years ago.

1. Yes
2. No
3. Like in any other field, there are quite a few of them so they are not that bad....
4. It is not a closed club, but definitely "more closed" than others. You need persistence. Maybe start with an internship.
5. They are.
6. Not really.

Dont listen to the fear mongers. apply for any job you see fit for you. I cringe when I read these topics because I realize how little courage we have and believe me you have no reasons for that. Good luck.

Well, if you think that manipulation is helpful just continue to do so. Or you are maybe in position, of you feel so, that you MAY influence an individuals or people. Throwing "labels" and not knowing what they means is typical. "Strong feelings"? No really, I have no illusion nor expectation. "If you choose to feel unwelcome..." choices of mine are limited by: dominant national narrative, customs and social norms and perception (like or dislike him or her!?).

Choices of myself are boil down to: what brand of beer I am going to chose. In tribal constructed societies "Others" do not have a choice, that's is so "natural". That's you phantasm, but I can see where you're coming from.
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Old 21.04.2013, 15:14
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Re: Eastern Europeans in Banking Sector!

Thanks CanadianManUZH, greenmount, your advices are very much appreciated!
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Old 21.04.2013, 16:10
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Re: Eastern Europeans in Banking Sector!

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That's you phantasm, but I can see where you're coming from.
Yeah, I can also see where are You coming from.....

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I'll you tell my story.

From this point and age in my life. I grew up in fantasy land, also, even myself I cannot believe that such county ever was possible. Nostalgia, perhaps but I am talking about socio-economic conditions.

It is important to mention that I was not wealthy, that is how YOU define good and happy life - very far from it. Very ordinary person with decent job, family, girlfriend, friends etc. I started my own company. I do not have need nor want to be rich, that is perversity of capitalist culture.

So, what happens?

At some point weird people from the West, folks from IMF and World Bank not mentioned various Western Security Services come and started to talking about thing called "democracy", "free market", "rule of law" "voting and elections" and all that propaganda. Of course, these euphemisms are designated words for plundering, looting and enslaving somebody else wealth that the Merchants of Death bringing with them. And, than I spend four (4) years in war. War in sieged city: no water, no gas, no food, no electricity, no nothing! It was not siege like Leningrad but still life under the siege and the purpose and aims are the same. I barely survived, mortar shell fall close to me and I got half dozen of shrapnels. Don't believe this. I still have couple of them in my left knee.

The story how I escaped my hometown is story for itself. Now, I live in US as you can see from my IP. It was my bad judgment, I must say.

After the war, war-torn country is devastated even more by IMF, US, and EU's Shock Doctrine therapy. And, still that policy is enforced today despite two decades of failure. Entire region is on life support, it is not by accident, it is deliberate policy. Once self-sustainable, near full employed county with excellent educational and health care system is now colony ruled by Comprador class whose only motto is Greed is Good. The country is by all accounts and metrics: Failed State.

I am not story teller like you, even if you are telling the truth you are mixing personal experience with general educational or socio-economic one. Just very close friends know nearly entire story, entire just me. I do not have need to say this because it is neither unique nor the most horrible. Many, very many have been worst off than me thanks policies imposed upon us.

You are not in position to tell me nor to tech me anything, very few are. As a suggestion, you are never know who are you going to meet, in particular on the Internet.
Indeed.

Go to Russia then, if it suits you better. They were nice and kind to the "region". Yeah, right.
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Old 21.04.2013, 16:39
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Re: Eastern Europeans in Banking Sector!

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Yeah, I can also see where are You coming from.....
Good, I am glad that we understand each other.


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Indeed.

Go to Russia then, if it suits you better. They were nice and kind to the "region". Yeah, right.
You think you are smart? No, I am not Russian, but when I stop and think, it is not bad place to be: 15% Tax and no debt. And Russia is great country, culture and history just as all countries are in its own way.

You see that kind of answer is typical, and that is what I was talking about, at some point you can not hide your associations.

Food for Brain for you, this guy is though he is Russian: http://cluborlov.blogspot.jp/2013/04...stupidity.html
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Old 21.04.2013, 16:59
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Re: Eastern Europeans in Banking Sector!

In my experience CVs and degrees/grades matter more in the financial industry than elsewhere. And I don't think you'd get very far with a Bachelors degree only. So doing a Master at HSG is definitely not a bad idea as it has an excellent reputation in the German speaking world. There are are a lot of foreigners in the financial industry, I don't really see any problems there.
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