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-   -   Finding a job in Finance as a recent graduate (https://www.englishforum.ch/employment/292602-finding-job-finance-recent-graduate.html)

Goldstein 20.06.2019 19:09

Finding a job in Finance as a recent graduate
 
Hello everyone.


I'm new to this forum, but not new to Switzerland.


Indeed, I've been studying here Banking and Finance at the University of Zurich over the past two years.



Now I'm about to graduate and struggling to find any entry level position.


Here a bit info about myself:


I'm from Italy
24 years old
Fluent in English and German and Spanish ( and native Italian)


My biggest problem is that I have zero work experience, and sadly not by choice. I tried to find some internships or working student positions while studying in the master, but I was rejected all the time.



I keep reading from different sources that as long as you are Swiss or EU citizen and speak German, a Job is Zurich is guaranteed to you. But that's definitely not the case for me.


My dream companies in ZH are Credit Suisse, UBS and Swiss Re. I never applied there, because I dont have any chances there as I have been rejected by less prestigious firms (I even got rejected by a startup!).


Any advice on the job search for someone in my situation? Do you think it's easier to find a job outside of CH ( e.g. in UK or Ireland)?



Thank you in advance for your replies.

roegner 20.06.2019 19:14

Re: Finding a job in Finance as a recent graduate
 
Quote:

Originally Posted by Goldstein (Post 3077147)
I keep reading from different sources that as long as you are Swiss or EU citizen and speak German, a Job is Zurich is guaranteed to you. But that's definitely not the case for me.


My dream companies in ZH are Credit Suisse, UBS and Swiss Re. I never applied there, because I dont have any chances there as I have been rejected by less prestigious firms (I even got rejected by a startup!).

There is no guarantee....!

Why didn´t you apply with those companies? Give it a chance. They may have intern-programs that will give you some of the experiences you need.

And think about what else you may want to do besides the big banks? I personally wouldn´t want to work there, the job stability from the past is long gone (and for other reasons).

Goldstein 20.06.2019 19:33

Re: Finding a job in Finance as a recent graduate
 
Well I didnt apply to these (Credit Suisse, UBS and Swiss Re) companies because I didnt want to give them the pleasure of rejecting me.


I want to work in the asset management field ( i.e. Not Investment banking or M&A). I'm also interested in risk management, i.e. estimating and controlling various financial risks in relation to the investment process.


There are many asset managers in Zurich, Zug and Pfäffikon SZ, and also many companies who do advisory on investments. I applied for many intern roles within these companies, as I thought it was easy to get an internship these than at big banks. Yet, I got rejected even there.

Jim2007 21.06.2019 00:25

Re: Finding a job in Finance as a recent graduate
 
Quote:

Originally Posted by Goldstein (Post 3077147)
I keep reading from different sources that as long as you are Swiss or EU citizen and speak German, a Job is Zurich is guaranteed to you. But that's definitely not the case for me.

I don't know where you have been reading that.... probably time to change your reading material.

Apply to the graduate programs and see how it goes:

https://www.ubs.com/global/en/about_...graduates.html

https://www.credit-suisse.com/career...-programs.html

https://careers.swissre.com/go/Graduates/2744301/

Apply to their graduate programs and see how it goes. If you don't try you will never know.

It is not what I'd recommend to any graduate, but that is another story....

Spinal 21.06.2019 00:28

Re: Finding a job in Finance as a recent graduate
 
Have you considered a consultancy? They have graduate programs...

Goldstein 22.06.2019 17:33

Re: Finding a job in Finance as a recent graduate
 
Quote:

Originally Posted by Spinal (Post 3077206)
Have you considered a consultancy? They have graduate programs...


I already applied for an internship at a Big 4 and was rejected. So applying there is a no-go.

roegner 22.06.2019 17:43

Re: Finding a job in Finance as a recent graduate
 
Quote:

Originally Posted by Goldstein (Post 3077614)
I already applied for an internship at a Big 4 and was rejected. So applying there is a no-go.

Why? You have tried one, think the others will also reject you... Have a close look at your CV, try to network and find out what is missing and work on that.

Ask your friends from uni, have they found jobs? Maybe they can help.

Just saying I will not apply as someone else rejected me isn´t going to get you a job.

Did you visit any networking events?

Nobody is going to bring you a job on a golden plate, you need to market yourself and find opportunities.

Jim2007 22.06.2019 18:16

Re: Finding a job in Finance as a recent graduate
 
Quote:

Originally Posted by roegner (Post 3077617)
Why? You have tried one, think the others will also reject you... U

Having done graduate recruiting for a big four in the past I can say that they tend to have very exacting standards when it comes to education. It does not matter what you have on the resume, if you don’t have the grades, that is it.

We used to make many conditional offers to graduates and I can’t remember a single one that was no withdrawn when the graduate failed to deliver the grades.

Thomasmas 22.06.2019 18:35

Re: Finding a job in Finance as a recent graduate
 
As mentioned by others you should lost the opinion of not trying to apply for a job just because you got rejected by another company. Honestly, that attitude will get you nowhere (not just related to job search..).

And yes, I would also be curious as to how you got the opinion that it would be so easy to get a job in Switzerland. I unfortunately also am in the position of having to look for a job again and have stopped counting the number of rejections received. Switzerland is not a fairyland.

Goldstein 22.06.2019 21:24

Quote:

Originally Posted by Thomasmas (Post 3077628)
As mentioned by others you should lost the opinion of not trying to apply for a job just because you got rejected by another company. Honestly, that attitude will get you nowhere (not just related to job search..).

And yes, I would also be curious as to how you got the opinion that it would be so easy to get a job in Switzerland. I unfortunately also am in the position of having to look for a job again and have stopped counting the number of rejections received. Switzerland is not a fairyland.


I keep reading that people from outside CH and EU have problems finding a job. So I assumed that for EU people it would be easy to get a job in CH.
Plus if you speak German it's even easier.


Yet, I studied iat the UZH, speak professionally fluent German ( Most of the applications I made were in German) and I didnt find even an internhip.


On the other hand, I have a friend from my hometown in Italy, who got a job at UBS ( and was at second interview round with Deloitte) in Zurich, didnt study in CH and didnt even speak German! So if he got the job without German, I expect that for someone who speaks German, it would be even easier.

@Jim2007. Where did you do the recruiting? In Switzerland or in Ireland?

roegner 22.06.2019 21:31

Re: Finding a job in Finance as a recent graduate
 
Quote:

Originally Posted by Goldstein (Post 3077659)


Yet, I studied iat the UZH, speak professionally fluent German ( Most of the applications I made were in German) and I didnt find even an internhip.


On the other hand, I have a friend from my hometown in Italy, who got a job at UBS ( and was at second interview round with Deloitte) in Zurich, didnt study in CH and didnt even speak German! So if he got the job without German, I expect that for someone who speaks German, it would be even easier.

Ask him and check what the difference between his CV and yours is. It seems he has something on his CV that qualifies him better?

And no, it is not easy finding a job here, there are so many well qualified people who want to work in CH.

Did you get a reason why you didn´t get any internships? Try to find out what is lacking and work on that.

Spinal 22.06.2019 21:40

Re: Finding a job in Finance as a recent graduate
 
Quote:

Originally Posted by Goldstein (Post 3077614)
I already applied for an internship at a Big 4 and was rejected. So applying there is a no-go.


Did you ask for feedback? What reason did you get?



Quote:

Originally Posted by Jim2007 (Post 3077614)
Having done graduate recruiting for a big four in the past I can say that they tend to have very exacting standards when it comes to education. It does not matter what you have on the resume, if you don’t have the grades, that is it.

We used to make many conditional offers to graduates and I can’t remember a single one that was no withdrawn when the graduate failed to deliver the grades.

I used to interview 5-8 people a week for a Big4 in London during graduate intake season. I now work for a Big4 in Zurich, and we are hiring. I'm part of the final round process for my team.



Things have changed a lot in recent years. Grade requirements (in fact, degree requirements) have changed. Two of the big4s don't look for "graduates" anymore, a degree is no longer a requirement.


I would be suprised if the OP was turned down on a pure grade requirement...

Goldstein 22.06.2019 21:53

He had the work experience, he applied for a senior analyst role, not a graduate program. While he was applying at UBS in Zurich he was working at PwC in Italy.


On the other hand I dont even have any internship experience, because I was rejected all the time despite my efforts. I regret all the time I wasted for applying to those evil companies, and giving them the pleasure to reject me.

Quote:

Originally Posted by Spinal (Post 3077664)
Did you ask for feedback? What reason did you get?

After wasting my time doing the online testing, I was invited to an interview.

A few days before the interview was supposed to take place they called me and canceled the interview, saying that the internship position was canceled.

roegner 22.06.2019 22:38

Re: Finding a job in Finance as a recent graduate
 
Quote:

Originally Posted by Goldstein (Post 3077666)
On the other hand I dont even have any internship experience, because I was rejected all the time despite my efforts. I regret all the time I wasted for applying to those evil companies, and giving them the pleasure to reject me.

Then you may have a look at your qualifications and your attitude as that may have been clear to the companies you applied with. It seems your efforts were clearly not enough.

Why is a company evil to reject you? Because they want to hire the best?

Sonnenbrand 22.06.2019 23:08

Re: Finding a job in Finance as a recent graduate
 
Sounds like a numbers game too me. You are an EU national, speak many languages and have completed or getting close to completing a formal education. You really just have to keep applying for jobs in an appropriate range of your skillset and have to expect that you will be not hired (not rejected) for the overwhelming majority of the applications submitted. It's a very competitive place to look for work, could take months, maybe closer to a year, maybe longer thats just the reality. Best of Luck!

Spinal 22.06.2019 23:42

Re: Finding a job in Finance as a recent graduate
 
Quote:

Originally Posted by Goldstein (Post 3077666)
He had the work experience, he applied for a senior analyst role, not a graduate program. While he was applying at UBS in Zurich he was working at PwC in Italy.


On the other hand I dont even have any internship experience, because I was rejected all the time despite my efforts. I regret all the time I wasted for applying to those evil companies, and giving them the pleasure to reject me.

One of the assessment criteria I assess potential candidates is motivation to join the firm. Another is understanding of the role and requirements. Yet another is a passion in the subject (or to learn). Part of a big4 career includes a strong ability to give/receive constructive feedback - including dealing with rejection.

Saying that a company is evil makes one doubt your understanding of the culture, attitude, and passion/interest in the role.


Would you call a client evil because they chose another supplier?

Goldstein 23.06.2019 00:15

Re: Finding a job in Finance as a recent graduate
 
Quote:

Originally Posted by Spinal (Post 3077700)
One of the assessment criteria I assess potential candidates is motivation to join the firm. Another is understanding of the role and requirements. Yet another is a passion in the subject (or to learn). Part of a big4 career includes a strong ability to give/receive constructive feedback - including dealing with rejection.




Well in my case they changed plan last minute and decided to cancel the internship postion, which was supposed to start a few weeks later. So I didnt get the position because of them. Would you call this constructive feedback? I didnt even have the luxury of getting rejected for MY own mistakes, instead I paid for THEIR mistakes and they got away with this.

SwissSurfer 23.06.2019 02:02

You won’t find a job here unless you know someone. Don’t waste your time and go somewhere else. Ireland would be a good choice as you suggested. The people there are much nicer anyway to work with. As for SwissRe and Credit Suisse, and UBS, are you sure these are good companies to work for? I have 20 years experience and can only get fixed term positions up to a year or so. The times have changed and in a few years time most foreign banks at least won’t exist in Zürich anymore. The job market here is more or less dead if you are looking at Finance positions. Unless you know someone as mentioned beforehand. There are 500-1000 applications for some jobs which is crazy.

Quote:

Originally Posted by Goldstein (Post 3077147)
Hello everyone.


I'm new to this forum, but not new to Switzerland.


Indeed, I've been studying here Banking and Finance at the University of Zurich over the past two years.


Now I'm about to graduate and struggling to find any entry level position.


Here a bit info about myself:


I'm from Italy
24 years old
Fluent in English and German and Spanish ( and native Italian)


My biggest problem is that I have zero work experience, and sadly not by choice. I tried to find some internships or working student positions while studying in the master, but I was rejected all the time.



I keep reading from different sources that as long as you are Swiss or EU citizen and speak German, a Job is Zurich is guaranteed to you. But that's definitely not the case for me.


My dream companies in ZH are Credit Suisse, UBS and Swiss Re. I never applied there, because I dont have any chances there as I have been rejected by less prestigious firms (I even got rejected by a startup!).


Any advice on the job search for someone in my situation? Do you think it's easier to find a job outside of CH ( e.g. in UK or Ireland)?



Thank you in advance for your replies.

Foreign workers usually get lower salaries so they are more attractive..
Quote:

Originally Posted by Goldstein (Post 3077659)
I keep reading that people from outside CH and EU have problems finding a job. So I assumed that for EU people it would be easy to get a job in CH.
Plus if you speak German it's even easier.


Yet, I studied iat the UZH, speak professionally fluent German ( Most of the applications I made were in German) and I didnt find even an internhip.


On the other hand, I have a friend from my hometown in Italy, who got a job at UBS ( and was at second interview round with Deloitte) in Zurich, didnt study in CH and didnt even speak German! So if he got the job without German, I expect that for someone who speaks German, it would be even easier.

@Jim2007. Where did you do the recruiting? In Switzerland or in Ireland?


Brian1985 24.06.2019 11:57

Re: Finding a job in Finance as a recent graduate
 
Oh my are the recent crop of graduates ever soft skinned. It's a battle out there to find a job in this business and it takes a determined approach. Don't you remember Bud Fox calling Gordon Gekko every day "this is the kid....calls me 59 days in a row....wants to be a player!" Look, I'm in my 30's, have a decade of experience, am a CFA charter holder, have worked in London and NYC, and it still took me close to a full year and hundreds of application to find a job here in Zurich. You need to apply for every position out there and cold call and cold approach every company to check if they have an opening. Send in a few work samples too, maybe draft an investment pitch on a stock/bond you like and email it out to people. You need to be more aggressive! Also, expand your search to London and Milan and Geneva. You are not married and have no kids so the world is out there...if you find a position in Singapore go, or in NYC or some other far flung place just take it. But don't sit around expecting it to fall in your lap.

Jim2007 24.06.2019 13:37

Re: Finding a job in Finance as a recent graduate
 
The reality is that banking industry has become a commodity industry and the race to the bottom is well under way. It is not somewhere to start building a career.


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