The 5 top jobs on offer at Bank of America, Merril Lynch, Morgan Stanley, Citigroup

According to Morgan McKinley, 8,955 new financial services jobs were created in London last month. That’s up from 5,355 in April 2013. With a statistic like that, it’s hard to argue that banks are not hiring. Though there is some disagreement with this estimate. McKinley’s competitor Astbury Marsden figures only 2,470 new financial services jobs were created in London last month. Either way, banks are hiring. Are you wondering what the most desirable, lucrative jobs are at the major banks? Here are some of the most enticing positions that the banks are soliciting applications for now:

Bank of America: Programme manager, analyst and associate programmeThis is a big position that would manage the whole Europe, Middle East, and Africa (EMEA) analyst and associate program. Bank of America may perhaps want someone to exert some control over associates work hours, after the Moritz Erhardt scandal. Erhardt died of an epileptic fit after working for several days straight as a Bank of America intern. Bank of America probably wants someone with HR experience, as well as knowing how to work with front office bankers. Pay is likely to be £120k to £130k, plus a bonus of 50% to 100%.Bank of America: VP, quantitative finance model risk

VP of qualitative model risk will work on Bank of America’s risk models. The goal of this position is probably to improve the models. Bank of America recently got into trouble for miscalculating key ratios on some of its models. A candidate for this position should certainly have pricing model and FX rate experience. The pay rate is
probably around £75k, with a 10-25% bonus.

Morgan Stanley: vice president interest rate e-trading strategist

The strategist will work on Morgan Stanley’s automated market and hedging strategies team. This involves creating computer programs that can be used to make these automatic trades. This is a growing area, so the position probably has future potential. Most likely, Morgan Stanley will want someone with a Masters Degree and programming skills. The pay is likely £120k, plus bonus.

Morgan Stanley: fixed income e-trading, client services manager

This may not be the highest paying or most ideal job in client services, but it is the wave of the future. As banks move towards increased automation in an effort to service customers at a lower cost, more jobs in this field will become available. This job is probably FX focused. It most likely involves client onboarding, customer service, and sales support. To get the job, you probably need knowledge of FX and ecommerce. Pay is likely about £70k to £90k, plus a bonus of 20%.

Citi: Senior trader, cash equities, Johannesburg

Here is a job for a risk taker. Citi notes that South Africa is a high risk trading zone. As such, a person in this position will need to be able to stomach some ups and downs. The job will be to execute client trades. This job will work with the European team to create trading profits, but will likely have much more autonomy than if the position was located in London. A successful candidate will need a track record of trading success. Pay rate is not clear. Compensation is likely to be performance based. The bonus is probably much more lucrative than it would be for a London position.

One response to “The 5 top jobs on offer at Bank of America, Merril Lynch, Morgan Stanley, Citigroup

  1. Pingback: Salaries Revealed from Inside London’s Leading Banks: Top 5 | Alpha Banker·

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