Banking, investment and insurance: Case studies

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Shireen, analyst, Merrill Lynch

I currently work at Merrill Lynch as a second-year analyst in the investment banking division (leveraged finance team). I decided on investment banking after I completed the Goldman Sachs A-level ‘Introduction to Banking’ programme. I chose Merrill Lynch because of its reputation, training opportunities, culture and people. I applied online to their graduate scheme and I went through interviews and an assessment centre.

I studied a BSc in Accounting and Finance at LSE, which is very relevant to my role because it demonstrated my interest and capability in finance, quantitative ability and grounding in the basics of finance. However, many of my peers have come from different academic backgrounds, including arts and humanities.

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I started with simple processing and research-based tasks and moved to more in depth analysis, with more room for intellectual development and additional responsibility. A typical day will start with going through the news/emails/requests that have come in overnight and dealing with them. Then I will check the work that the desktop publishing team has completed for me and I will deal with any small or urgent requests from other bankers. I then work on my various projects; I attend meetings and dial into conference calls throughout the day, checking in with my seniors regularly.

Regarding my future plans, I intend to remain in finance. Many analysts either continue in banking, or join private equity houses or hedge funds. Some join another industry, study an MBA, or go into something completely different. A few years at an established investment bank provides a good starting point and foundation for a career in the world of business and finance.

My advice to students interested in a career in finance and banking would be:

• Try and get an internship. They are invaluable in terms of experience and they add value to your CV.
• Apply early as applications are on a rolling basis; the later you apply, the fewer places there are left.
• Take every opportunity to meet people in your chosen field and to acquire mentors.

Carla, branch manager, Barclays

I am a branch manager in London for the retail bank of Barclays Bank plc.

After A-levels in English, History and Spanish, I studied an English and Spanish degree at Queen’s University. Following university I was unsure which career path I wanted to pursue and decided to spend two years travelling and gaining work experience. This included a year in Canada during which time I worked for a small investment and wealth management company. I really enjoyed this experience and found the financial services industry to be a demanding, exciting and rewarding sector to work in.

Having studied Spanish, I was primarily attracted to Barclays because of its recent expansion into the Spanish market, as this is an area where I hope to work in the future. After some research I also realised that they took graduate development very seriously and felt this would be the best company for my career development. After applying, I was given the choice of joining the business banking or retail scheme. The retail programme appealed to me because of the variety of experience that it offered and the opportunity to gain real leadership experiences from an early stage.

The communication and presentation skills I acquired through my degree have stood me in good stead for my current position. I gained fluency in Spanish as well as the ability to analyse large volumes of material and present succinct and relevant conclusions. I also learnt to work independently and drive my own learning and development. It is a common misconception that arts degrees are not relevant for positions in the financial services industry. Communication, presentation and analytical skills are relevant from every subject and the different perspective that an arts degree provides is invaluable in this industry.

My first six months on the graduate programme were spent working alongside an area director and I was involved in a number of key strategic projects which introduced me to the world of retail banking. I then moved into the role of assistant branch manager which quickly developed into the role of branch manager. I am now leading my own branch and have responsibility for customer service in the East London area.

What I love about my job is that there are no ‘typical days’. I assist in the day-to-day running of my branch which involves helping customers and resolving the more involved queries or complaints. As branch manager, I am responsible for the training and development of my staff and their performance. Consequently the most important skills required in my role are people skills; the ability to motivate and inspire as well as deal with problems in a positive and innovative way. The most difficult aspect is that often there are so many balls to juggle that I can’t always complete tasks to the standard I would like. However, this is something I am getting more used to.

I am about to begin my first permanent role as executive assistant to a regional director, which will be a fantastic opportunity to become involved with driving performance from a regional level. Following this, I hope to continue my career in retail leadership. I am keen to work in the Spanish retail market, as I previously lived there and would love to take my career to an international level.