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6.3.2 Financial Services

Top 10 Financial Services recruiters of MBAs in 2006:
Citibank, Deutsche Bank, KPMG, Ernst & Young, GE Commercial Finance & GE Capital, Goldman Sachs, JP Morgan, Merrill Lynch, Morgan Stanley, UBS. (KPMG, Ernst & Young and UBS replace American Express, Fidelity and Lehman Brothers in 2006).

Almost all investment banks actively recruit MBAs. Most people associate investment banking with mergers and acquisitions, but this is just one department within the global banks - albeit a department which is booming in 2006 with most top banks reporting record transaction figures. Most of the top banks look to recruit MBAs into global markets (sales and trading securities, fixed income and derivatives), managing assets, structured finance, corporate finance and increasingly on-and-off balance sheet hedge funds. There are also many back office positions in risk, financial control and technology.

This demand for MBAs collapsed during 2001-2003. Goldman Sachs, Morgan Stanley and others cut MBA hiring by up to 80% in some offices. 2006 shows a completely different environment with demand increasing by 24% (20%). All the big banks are back on campus competing for talent, evidence of which can be found in this survey in the section relating to salaries. Mergers & Acquisitions departments are returning to strength and hiring is becoming a priority. Many banking divisions are prospering, such as derivatives, hedge funds, sales and trading of debt and equities, structured finance, public sector and private sector corporate finance, property, private equity and wealth management. Finance hiring is no longer restricted to banks. GE Capital is now one of the biggest recruiters of MBAs worldwide. American Express is also emerging as a major player.

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Back to Index International MBA Recruitment & Salary Report 2006

Source: -
QS World MBA Tour - QS TopMBA.com International Recruiter Survey 2006
© QS Quacquarelli Symonds Ltd. 2006
Website: www.topmba.com