Investment banks and financial services organisations have been trying to attract more female applicants to their graduate schemes for years now. Diversity initiatives are top of the agenda and there’s a big push to change stereotypes of the industry as being a testosterone-fuelled environment dominated by alpha males.
Unfortunately, new figures from research firm Universum suggest that women are still far more likely to gravitate towards other industries. It surveyed 15,000 UK graduates and found that while the males favour banking, financial services and engineering, females are more likely to gravitate towards educational and research institutions, the public sector and the media.
This is reflected in the salary expectations – on average, male candidates expect a starting salary that is £4k (or 17%) more than female students demand.
Rob Rooney, EMEA diversity champion and head of EMEA fixed income at Morgan Stanley, points to how a diverse workforce is a “business imperative” for the firm, while Citi’s head of diversity for EMEA, Emma Cashmore, says that it’s out on campus trying to “dispel some myths” about careers in banking.
However, as the rankings below show, only J.P. Morgan makes it into the top ten of preferred employers for female business students. In the male category, meanwhile, J.P Morgan, Goldman Sachs, HSBC, Morgan Stanley and Barclays Capital all feature in the top ten.