Finance Industrial Placements in 2013: A Retrospective

The year 2013 presented a landscape of opportunity and challenge for students seeking industrial placements in the finance sector. Fresh from the aftermath of the 2008 financial crisis, the industry was still navigating a path of recovery and regulatory change, impacting the availability and nature of placement roles.

Placement Opportunities

While the overall number of placements may have been somewhat reduced compared to pre-crisis levels, several key areas offered opportunities. Investment banks, despite undergoing restructuring, continued to offer placements in areas like trading, sales, research, and operations. Demand was high, with rigorous application processes testing candidates' analytical skills, market knowledge, and cultural fit. Asset management firms, experiencing a rebound in assets under management, also provided placements focusing on portfolio management, client relations, and investment analysis. Accounting firms, particularly the Big Four, remained consistent providers of placements in audit, tax, and advisory services, offering a valuable grounding in financial accounting and reporting.

Skills & Expectations

Employers prioritized candidates possessing strong quantitative skills, a solid understanding of financial markets, and excellent communication abilities. Relevant coursework in finance, economics, or mathematics was almost essential. Interns were expected to demonstrate initiative, a willingness to learn quickly, and the ability to work effectively within a team. Technical skills, particularly proficiency in Excel and Bloomberg Terminal (where applicable), were highly valued. Beyond technical competencies, employers sought candidates who demonstrated ethical conduct, professional demeanor, and a genuine interest in the financial industry.

The Placement Experience

Industrial placements in 2013 typically involved a mix of hands-on tasks, shadowing senior professionals, and contributing to ongoing projects. Interns might be involved in preparing financial models, conducting market research, assisting with client presentations, or participating in internal audits. The experience provided invaluable insights into the day-to-day realities of working in finance, exposing students to different career paths and helping them develop practical skills. Networking opportunities were also abundant, allowing students to build relationships with industry professionals and potentially secure graduate job offers.

Impact & Legacy

A 2013 finance industrial placement offered a crucial advantage in a competitive job market. It provided real-world experience, enhanced employability, and helped students make informed decisions about their future career paths. Many students who undertook placements that year went on to secure graduate positions within the same companies or elsewhere in the finance sector, highlighting the enduring value of these opportunities. The skills and knowledge gained during these placements provided a solid foundation for their future careers, shaping the next generation of financial professionals. The focus on ethical conduct instilled during this era remains a critical part of the finance industry today.