UK vs USA recruiting
Most of my job-seeking efforts have been focused on London jobs since that's the financial centre I'm closest to. I find loads of the stuff on WSO extremely helpful and am making a conscious effort to use what I learn in the forums.
Still, WSO is pretty US-dominated and naturally, tips and answers will be more US-centric. I can't help wondering if some advice may not work as well for prospective monkeys in Europe than for those America. For example, I've read other members write that networking does not play as big a role in getting a job as it does in NY (not saying that one shouldn't network in London at all but if there should be a different approach to it). Or that cold-calling/emailing is not as well received here.
So I just have to ask, what are the major differences (the obvious and the subtle) between London and NY, that I should always keep in mind when I'm reading advice from posts. Also, is there a WSO equivalent for guys in The City or Canary Wharf?
I'm most interested in hearing about the graduate recruitment effort but hearing about work culture differences would also be a plus.
Networking is a far smaller part and people will think you're a bit odd if you cold call them asking for informational interviews or whatever. At the same time though, there is less emphasis on "prestige" and far more on whether you're actually good. The application processes contain lots of tests to see if you have basic mathematic, verbal and logic skills and the assessment centres contain more tests, group exercises, role playing etc.
At the large banks in the European divisions it is much the same kind of culture. You won't be speaking to MDs, you will be there from 9am till 3am, you will churn pitchbooks all day etc. However if you are in more of a UK focused group or middle market bank it is completely different. It's far more informal, sometimes MDs come and joke around and throw rugby balls with analysts, take the team to lunch etc. UK teams and boutiques have different working hours usually as well, they tend to start earlier (7am-8am) and finish earlier (11pm - 1am).
Finally there is a concept called 'broking' which doesn't really seem to exist in the US. This is where your client pays you a retainer fee of £x per year and you provide him with monthly market updates, he can ring you up at any time and ask for advice / information / contacts, you are expected to call him up if the share price makes a dramatic move etc.
Oh and one last thing, nobody cares what you wear as long as it isnt absurd and you do good work.
Thanks for your reply Asatar.
May I ask what are you basing your comments on? How much experience have you had wtih US or UK offices?
When candidates don't really network around or cold-call in the UK, what does one do to stand out in the crowd of applications or ensure one gets an interview? Aside from being amazing on paper.
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