Haven't been successful in landing an investment traineeship in Europe? There's always Asia Pac.
So far, the Asia Pac (for our purposes, Hong Kong, Singapore, and Australia) market has been less impacted than Europe and the US by the credit crunch, and graduate recruiters in the region say they're open to receiving applications from UK students.
Vincent Chow, vice-president of organizational developments at Citi Markets and Banking's Asia Pacific office, says around 15-20% of its entry-level graduate intake tends to come from UK universities.
"We do not set a target number when hiring students from a particular location. We look at the overall quality of students instead. For instance, if we found the candidates particularly strong in US schools in one particular year, we may end up hiring relatively more from the US," he explains.
Credit Suisse also welcomes overseas applications, says Linda McConnell of its Asia Pacific campus recruiting team. When applying, a candidate should select their preferred business area, along with their preferred office location within Asia Pacific, she advises.
"We offer both analyst and associate positions across all businesses in Asia Pacific, from traditional investment banking roles to the exciting space of private banking," she points out.
First-round interviews are typically done over the phone for overseas candidates but, once a candidate reaches the final stages, they should expect either a video conference or a face-to-face meeting, she says.
The bad news is that, as in the UK, many banks' deadlines for Asia Pac applications have now passed, which means you may need to hold out until next year. The exception appears to be JPMorgan, which also accepts international candidates to its programme in the region, and says applications are ongoing or can be fed into next year's round if they are too late.