March 21, 2009

U.K. banking swoon leaves grads in lurch

The economic downturn has derailed career plans of thousands of British students who had intended to go into banking, the Times of London said Saturday.

The newspaper said students who had seen banking as their top career choice were instead sending out resumes to law and accounting firms.

Ian Powell, chairman of Pricewaterhouse Cooper in Britain, said the firm's university recruiting events were attracting large crowds of job seekers.

Clearly the downturn is encouraging more graduates to reassess their priorities and look for professional skills and training, which will equip them for recession as well as growth periods, Powell told the Times.

Other recruiters say banks have sharply scaled back hiring and are looking only for graduates who have special skills and experience working in the financial sector.