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U.K. Finance Industry To Cut 43,000 Jobs As Grads Shun Sector

The U.K.’s financial industry will lose 43,000 jobs in six months, according to a forecast from the Confederation of British Industry, as companies shrink and reduce costs.

Banks, insurers, asset managers and other finance firms probably cut 25,000 positions in the last three months of 2012 and may eliminate 18,000 jobs in the first quarter of this year, according to a study by Britain’s biggest business lobby group and PriceWaterhouseCoopers, published Monday.

Global cuts at financial firms have exceeded 115,000 since 2012 as they seek to control compensation expenses and retreat from capital-intensive businesses, according to data compiled by Bloomberg.

The cuts in the U.K. industry will mean about 132,000 financial-services jobs have been lost since the peak in the final quarter of 2008, when it employed about 1 million people, the CBI said.

In addition to firings, bankers have been retiring earlier and younger would-be recruits are shunning finance for less-tainted industries, said Burrowes.

For young professionals, ‘it’s not an attractive place to go’, he said. Banking and capital markets at his firm, PwC, ‘is not a sector they’re attracted to any longer’, Kevin Burrowes, U.K. financial-services leader at PwC,  said. ‘It used to be our most popular sector’.

Check out the original article over at Bloomberg.

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The Times Top 100 Graduate Employers

Now in its fifteenth year, The Times Top 100 Graduate Employers is the definitive guide to Britain’s most respected and sought–after graduate employers.

The Times Top 100 Graduate Employers

The new Top 100 rankings have been compiled from face-to-face interviews
with 17,737 graduates, who left UK universities in the summer of 2012,
who were asked the open-ended question “Which employer do you
think offers the best opportunities for graduates?”.

The List

Last year’s position is in (brackets).

1 (1) PwC
2 (2) Deloitte
3 (3) KPMG
4 (7) Teach First
5 (4) Aldi
6 (5) NHS
7 (8) Civil Service
8 (10) Ernst & Young
9 (6) BBC
10 (11) John Lewis Partnership
11 (9) Accenture
12 (20) Tesco
13 (12) HSBC
14 (21) Google
15 (13) Goldman Sachs
16 (14) Barclays
17 (16) BP
18 (15) GlaxoSmithKline
19 (24) Unilever
20 (23) J.P. Morgan
21 (18) P & G
22 (17) RBS
23 (22) Army
24 (19) IBM
25 (26) Rolls-Royce
26 (60) Jaguar Land Rover
27 (53) Apple
28 (27) M & S
29 (28) Barclays Inv Bank
30 (25) L’Oréal
31 (29) Allen & Overy
32 (38) Lidl
33 (48) Microsoft
34 (34) Morgan Stanley
35 (31) Shell
36 (30) BAE Systems
37 (37) Arup
38 (32) Lloyds Banking Group
39 (33) Sainsbury’s
40 (35) McKinsey & Company
41 (41) >Sky
42 (50) WPP
43 (42) Linklaters
44 (59) Citi
45 (36) Clifford Chance
46 (45) BT
47 (91) Nestlé
48 (55) Deutsche Bank
49 (44) Slaughter and May
50 (54) MI5
51 (52) Network Rail
52 (57) Freshfields
53 (61) Atkins
54 (56) Credit Suisse
55 (71) McDonald’s
56 (New) European Commission
57 (67) Bain & Company
58 (75) Co-operative Group
59 (64) DLA Piper
60 (40) Mars
61 (46) UBS
62 (89) Santander
63 (62) Boots
64 (79) Asda
65 (77) Boston Consulting
66 (98) nucleargraduates
67 (74) Bank of America
68 (80) Bloomberg
69 (43) Centrica
70 (49) Local Government
71 (51) Arcadia Group
72 (65) Royal Navy
73 (70) Herbert Smith
74 (72) Foreign Office
75 (90) Penguin
76 (39) Cancer Research UK
77 (47) ExxonMobil
78 (New) British Airways
79 (68) Police
80 (New) Towers Watson
81 (58) Saatchi & Saatchi
82 (78) Transport for London
83 (84) Diageo
84 (95) National Grid
85 (New) Norton Rose
86 (63) Oxfam
87 (73) Airbus
88 (81) Grant Thornton
89 (88) Savills
90 (New) GE
91 (87) E.ON
92 (New) British Sugar
93 (69) RAF
94 (85) Oliver Wyman
95 (New) Lloyd’s
96 (82) EDF Energy
97 (86) Kraft Foods
98 (New) BDO
99 (New) DFID
100 (99) Hogan Lovells

Check out the website here; http://www.top100graduateemployers.com/