The banking and financial services industry has had a tumultuous year, with the Federal Government’s Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry shedding light on questionable practices at some of the sector’s largest employers.
However, the recently released results of the GradAustralia Top 100 Graduate Employer survey suggest that, in the eyes of current students, many of the banking institutions implicated in the commission have retained their appeal as prospective employers.
The top five banking organisations on the list are the Commonwealth Bank (10), ANZ (19), J. P. Morgan (22), Goldman Sachs (24), and Macquarie Group (27). These banking organisations are distinguished by their scale (CBA and ANZ are the two largest banks in Australia) as well as their provision of structured graduate programs.
Past students now working for the top five banks on the list have also praised them for offering exposure to global financial networks. For example, one graduate now employed at J.P. Morgan told GradAustralia, ‘In my first year with J.P. Morgan I was sent on two international trips as part of my training. I had the opportunity to build an international network and build enduring relationships with my globally located peers.’
With 80 per cent of finance students also prioritising diversity at prospective employers, it’s also fitting that they’ve voted diverse organisations to the top of the list. For example, current employers at CBA have praised the bank for its open support of LGBTI employees, women in leadership, age diversity, people of indigenous backgrounds and cultural diversity.
‘The results of the survey show that businesses that understand the priorities of current students, and make a concerted effort to meet them, will be rewarded with enthusiastic graduate applications,’ says Geoff Adams, co-founder of GradAustralia. ‘The top five banking employers have earned their rankings through a commitment to diversity and career development.’
The definitive list of the Top 100 Graduate Employers can be found on the GradAustralia website. 50,000 books were distributed to university students around Australia – the Top 100 Guide includes 400 pages of comprehensive employer profiles, sector information, insider tips on how to get hired as well as real-life stories from graduates on the job.