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Graduate Recruitment in Banking: Facing the credibility crunch, explores what banking-oriented students want from their career and how banks measure up to those expectations. What stands out from the research is that globally, banking has been usurped from its position as the number one career choice for business students. The findings also dispel a few preconceptions about what students want out of a career in banking.

In South Africa, banking has been a consistently popular career choice among business students over recent years, and has not suffered the reputational challenges faced by other countries worst hit by the 2008 global financial crisis. This could be because South African banks have been one of the most innovative in the world. A fact that’s been recognised by students. Although banking as a career has increased in popularity compared to last year, it is still below its 2010 peak.

Other key findings from the global report include:

  • Banking has been toppled from its position by FMCG as the most popular career choice
  • The software and computing services sector is continuing to rise in popularity among business students
  • Work-life balance remains the most popular career goal
  • “Professional training and development” topped the list of attributes that students found attractive in an employer
  • The banking sector was viewed by business students as less likely to offer a friendly work environment than the average employer

The findings from this report are a wake-up call for banks, whose popularity has fallen sharply since the global financial crisis. There is also a growing gap between banks’ image as employers and their needs in an environment of relentless Volatility, Uncertainty, Complexity and Ambiguity (VUCA). The banks’ only advantage may be their people. This survey highlights the need for banks to respond positively in order to attract the best talent.

Click here to read the South Africa report

About the author

Deloitte South Africa

Deloitte is one of the country’s leading professional services firms in Southern Africa, and is dedicated to assisting companies succeed in the business environment- whether it be through our tax, audit, consulting or financial advisory services.

At Deloitte, we understand that solutions are not just a static one dimensional report, but rather, an integrated and innovative answer that helps our clients to better understand key complex industry issues. Not only do our solutions assist our clients in making strategic business decisions, but our unique approach also allows companies to succeed in a competitive business environment by staying ahead of industry trends. Through the collective expertise of nearly 3600 people in 8 cities in South Africa and in 16 cities in Southern Africa, and as a member firm of the global organisation Deloitte Touche Tohmats, we have access to deep insightful and intellectual capital of more than 150 000 people worldwide.

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A key contributor to Deloitte and our culture is the development of human capital. At Deloitte we believe in investing in our culture, in our clients and in our people. The very essence of Deloitte is to offer services of excellence, to both clients and staff, and we believe that it is this culture of excellence that will help us succeed.

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