10/1/10

Universum, an employer branding company, has released its world's most attractive employers list and investment banks barely made it to the top 10.

The fairest of them all was Google, followed by KPMG and Ernst & Young in 2nd and 3rd while investment banks JP Morgan and Goldman Sachs rounded up the top 10 in 9th and 10th place respectively.

The rest of the banks however were hanging around the middle; eclipsed mostly by F500 companies. Morgan Stanley came in at 17th, Deutsche Bank at 20th, BoA-ML at 22nd, while Citi, UBS and Credit Suisse came in at 29th, 30th, and 31st place. Barclays seemed the least sexy of the group, sitting at the 36th slot.

Universum CEO Michal Kalinowski stated that the financial services sector took a big hit from attracting top talent because:

"Due to the banking and investment sector being perceived as responsible for one of the world's largest economic meltdowns in history, employers in the industry have lost their appeal as a great place to kick-start one's career, Management consulting companies have also dropped in the rankings, often linked to the banking and investment sector, and may have been perceived as part of the problem for past financial mismanagement."

The index was based on selections of roughly 130,000 students with business and engineering backgrounds from the world's top 12 economies and schools, thus explaining why banking didn't put on a good show - and historically it never did place high anyway.

But has finance really lost its appeal?

I highly doubt it, but if that's the case then more power to us.

We bring our own appeal anyway.

Comments (31)

10/1/10

Naaa, finance is kind of like Darth Vader right now, but I seriously doubt that the people in it really care. As if a banker at GS making 6 figures gives a shit that the deli owner things he is a crook. Only people you should care about what they think is your mom and your dog. Fuck the rest.

10/1/10

It's still as sexy as ever. When people find out I'm going to a BB next year the first thing they say is oh wow. No idea why the hell big 4 are up there, you couldn't pay me to work there.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

10/2/10
bulge4lyf:

No idea why the hell big 4 are up there, you couldn't pay me to work there.

i don't think they'd ever expect you to do it for free.

"After you work on Wall Street it's a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side." - David Tepper

10/1/10

I do think it has to do with perception but not due to the meltdown. I think it has to do with actual/perceived the work hours/conditions ... I think my generation is becoming soft. They want to be fed and play volleyball on the Google campus or whatever ...

10/1/10
bbc:

I think my generation is becoming soft. They want to be fed and play volleyball on the Google campus or whatever ...

I think your on to something here, wussification of America... too many kids playing ultimate frisbee because they're afraid to put some pads on and hit someone

It doesn't bother me, just adds more soy milk drinking push overs to the male population to be dominated

10/1/10
bbc:

I do think it has to do with perception but not due to the meltdown. I think it has to do with actual/perceived the work hours/conditions ... I think my generation is becoming soft. They want to be fed and play volleyball on the Google campus or whatever ...

It doesn't have anything to do with being soft. The fact is, most young people would rather spend their weeknights/weekends in bed with their girlfriend and going out with their boys. That's a pretty logical decision for many people. Especially when you can still get a decent paying job outside of IB. Sure, you won't make 6 figures at 22, with the same chance at making 7 figures at 30. However, making $50K at 22 with a good shot at making $100K at 30, all the while working 40-50 hours a week, is a pretty sweet deal for most people. And lastly, many smart people actually find IB/finance boring, so it's not a good career path for them.

10/1/10
econ:
bbc:

I do think it has to do with perception but not due to the meltdown. I think it has to do with actual/perceived the work hours/conditions ... I think my generation is becoming soft. They want to be fed and play volleyball on the Google campus or whatever ...

It doesn't have anything to do with being soft. The fact is, most young people would rather spend their weeknights/weekends in bed with their girlfriend and going out with their boys. That's a pretty logical decision for many people. Especially when you can still get a decent paying job outside of IB. Sure, you won't make 6 figures at 22, with the same chance at making 7 figures at 30. However, making $50K at 22 with a good shot at making $100K at 30, all the while working 40-50 hours a week, is a pretty sweet deal for most people. And lastly, many smart people actually find IB/finance boring, so it's not a good career path for them.

Common sense, I like it.

10/1/10

[/quote] It doesn't have anything to do with being soft. The fact is, most young people would rather spend their weeknights/weekends in bed with their girlfriend and going out with their boys. That's a pretty logical decision for many people. Especially when you can still get a decent paying job outside of IB. Sure, you won't make 6 figures at 22, with the same chance at making 7 figures at 30. However, making $50K at 22 with a good shot at making $100K at 30, all the while working 40-50 hours a week, is a pretty sweet deal for most people. And lastly, many smart people actually find IB/finance boring, so it's not a good career path for them.[/quote]

That is exactly what being soft is.

10/1/10
Serialacquirer:

That is exactly what being soft is.

LOL. Caring less about money than I-bankers makes you soft? Caring about leisure time, your social life, balance, etc, makes you soft? Are you serious? The obvious answer is that different people have different preferences, and IB/finance is just not attractive to many people.

10/1/10
econ:
bbc:

I do think it has to do with perception but not due to the meltdown. I think it has to do with actual/perceived the work hours/conditions ... I think my generation is becoming soft. They want to be fed and play volleyball on the Google campus or whatever ...

It doesn't have anything to do with being soft. The fact is, most young people would rather spend their weeknights/weekends in bed with their girlfriend and going out with their boys.

Why would you ever want to be in bed with your girlfriend, let alone have one? If you're in IB, you can have a flavor of the week, or night, however you prefer it.

10/1/10
iBANKhard:

Why would you ever want to be in bed with your girlfriend, let alone have one? If you're in IB, you can have a flavor of the week, or night, however you prefer it.

Again, maybe different preferences. Though, in all honesty, I find it incredibly hard to believe that most i-bankers are big pimps/players. I'm sure some live a cool, bachelor, player lifestyle, but I imagine some would still have a hard time pulling that off, despite their salary.

10/3/10
econ:
bbc:

I do think it has to do with perception but not due to the meltdown. I think it has to do with actual/perceived the work hours/conditions ... I think my generation is becoming soft. They want to be fed and play volleyball on the Google campus or whatever ...

It doesn't have anything to do with being soft. The fact is, most young people would rather spend their weeknights/weekends in bed with their girlfriend and going out with their boys. That's a pretty logical decision for many people. Especially when you can still get a decent paying job outside of IB. Sure, you won't make 6 figures at 22, with the same chance at making 7 figures at 30. However, making $50K at 22 with a good shot at making $100K at 30, all the while working 40-50 hours a week, is a pretty sweet deal for most people. And lastly, many smart people actually find IB/finance boring, so it's not a good career path for them.

Yes, by definition, that is being soft. This debate isn't whether you are soft or not ... that is a stated fact by your own assertion. I also believe that your comment supports my contention that my generation is becoming soft ... thus providing an explanation of why my generation would choose an accounting career over IB.

Now whether or not, softness should be tolerated is a different story. My philosophy is that anything worth obtaining will be hard to get ... I mean "blood, sweat, and tears" hard to get ... because if it wasn't, then everyone would have already obtained it. Its just like women ... the best ones require the most effort to court ... the worst ones ... well you get the point.

Now, I'm not saying that I-Banking is the greatest thing in the world ... like you said, that's purely an issue of preference. I-Banking is NOT for everyone ... because not everyone has what it takes (cough is soft) ... I think whats more important is the decrease in work ethics that you are noticing in our generation ... compared to those in other countries.

10/3/10
bbc:

Yes, by definition, that is being soft.

LOL. No, that's YOUR definition of being "soft."

bbc:

I think whats more important is the decrease in work ethics that you are noticing in our generation ... compared to those in other countries.

It's funny, because blue collars guys say the same thing about finance guys. They think they're soft. Also, this last statement shows a fundamental misunderstanding of basic economics. Of course wealthier countries and wealthier generations choose to work less. Leisure is a normal good, thus when your wealth increases, you consume more of it. Lastly, the fact that many people find IB boring, does not make them soft. I even know a few people who were I-bankers and gave it up to get econ and business PhDs. Why? Because they thought the work was incredibly boring and not intellectually stimulating/challenging at all. If you want to construct some bizarre, self-serving definition of what soft is, then sure, all these people will be soft by YOUR definition.

10/3/10
bbc:
econ:
bbc:

I do think it has to do with perception but not due to the meltdown. I think it has to do with actual/perceived the work hours/conditions ... I think my generation is becoming soft. They want to be fed and play volleyball on the Google campus or whatever ...

It doesn't have anything to do with being soft. The fact is, most young people would rather spend their weeknights/weekends in bed with their girlfriend and going out with their boys. That's a pretty logical decision for many people. Especially when you can still get a decent paying job outside of IB. Sure, you won't make 6 figures at 22, with the same chance at making 7 figures at 30. However, making $50K at 22 with a good shot at making $100K at 30, all the while working 40-50 hours a week, is a pretty sweet deal for most people. And lastly, many smart people actually find IB/finance boring, so it's not a good career path for them.

I-Banking is NOT for everyone ... because not everyone has what it takes (cough is soft) ...

You are completely missing econ's point. I-Banking is not for everyone because not everyone is interested in it. I understand we are on a forum full of people who get boners at the mention of GS/MS, Bulge Bracket, etc. but is it really possible to have this warped a sense of reality? Banking boils down to nothing more than data-entry and analysis at the analyst level. Doing that for 80+ hours a week just doesn't appeal to some people. It shouldn't be this hard to understand...

10/4/10
nelly0:
bbc:
econ:
bbc:

I do think it has to do with perception but not due to the meltdown. I think it has to do with actual/perceived the work hours/conditions ... I think my generation is becoming soft. They want to be fed and play volleyball on the Google campus or whatever ...

It doesn't have anything to do with being soft. The fact is, most young people would rather spend their weeknights/weekends in bed with their girlfriend and going out with their boys. That's a pretty logical decision for many people. Especially when you can still get a decent paying job outside of IB. Sure, you won't make 6 figures at 22, with the same chance at making 7 figures at 30. However, making $50K at 22 with a good shot at making $100K at 30, all the while working 40-50 hours a week, is a pretty sweet deal for most people. And lastly, many smart people actually find IB/finance boring, so it's not a good career path for them.

I-Banking is NOT for everyone ... because not everyone has what it takes (cough is soft) ...

You are completely missing econ's point. I-Banking is not for everyone because not everyone is interested in it. I understand we are on a forum full of people who get boners at the mention of GS/MS, Bulge Bracket, etc. but is it really possible to have this warped a sense of reality? Banking boils down to nothing more than data-entry and analysis at the analyst level. Doing that for 80+ hours a week just doesn't appeal to some people. It shouldn't be this hard to understand...

Warped sense of reality? How about out-of-context ... read my entire post and maybe you'll comprehend. Whether or not I-Banking is for you is a matter of preference (I think both Econ and I agree on that point). My argument is that many people are straying away from IB because they would prefer to work less hours and get pampered (something that I think Econ agrees with as well). I call it being "soft" ... Econ disagrees .. says that its part of increasing wealth to seek out "normal goods". Next time, read the entire post my friend.

Also, every entry-level job involves some form of data-entry, research, and other bull-shit task. Don't kid yourself thinking that other companies or positions will offer some kid fresh-out-of-college with major decision making responsibilities.

10/1/10

I think the big 4 might have more to do with the consulting part rather than audit, tax etc. But regarding the finance sector being unattractive because of they caused of the financial crisis is a far stretch. I think it might have more to do with the excess supply of finance professionals in the market and not so ambitious/driven students finding the job search frustrating, especially the ones who are looking to make a quick buck.

10/1/10

All of the Big 4 in the top 5??? As a former associate in Big 4, I have to question the absurdity of that result...

10/1/10
bfoxcpa:

All of the Big 4 in the top 5??? As a former associate in Big 4, I have to question the absurdity of that result...

Where are you now after Big 4?

10/15/10
surferdude867:
bfoxcpa:

All of the Big 4 in the top 5??? As a former associate in Big 4, I have to question the absurdity of that result...

Where are you now after Big 4?

I left Andersen pre-implosion in 2001. I'm presently CFO of a mid-sized engineering firm in CT. My advice to any big 4 associate is to get your 3-4 years in and then move on to a better role outside of public accounting.

~B

10/1/10

quite possibly the least accurate rankings i have ever seen. BRB accepting job at IKEA over Bain.

Best Response
10/1/10

when i first read title thoght it was fiance not attractive any mo :(

10/1/10
squirtlez:

when i first read title thoght it was fiance not attractive any mo :(

LOL +1

10/1/10

On this blog, I've never seen so many people so excited to go work for someone else..

10/1/10

He's a "one man wolf pack" of course he cares about friends, leisure time, hobbies, and living life

10/1/10

MODELS AND BOTTLES, FUCK BITCHES GET MONEY

10/1/10

Econ, you are correct. Most bankers are not pimps. S&T guys are getting all the ass.

10/1/10
Anthony .:

Econ, you are correct. Most bankers are not pimps. S&T guys are getting all the ass.

Haha! Well played, sir.

10/1/10
Anthony .:

Econ, you are correct. Most bankers are not pimps. S&T guys are getting all the ass.

Nah, I gets mine w/ my cubicle tan.

10/2/10

Wouldn't it be nice if finance lost its popularity. Less competition, higher salaries...

10/3/10
10/4/10
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