Financial Services

All businesses require experts to manage their finances and ensure that income exceeds expenditure. They also need financial forecasts to inform future development and strategy. This means there are a lot of accountancy roles for Economics graduates to consider. You could work:

• in the finance department of a non-accountancy firm (e.g. local business, private sector business or public sector)

• for an accountancy firm that provides financial services to other organisations (i.e. their clients)

• for a professional services firm that provide many different services (including accountancy) to other organisations (e.g. PwC, Deloitte, Ernst & Young and KPMG)

A lot of graduates will start in audit or assurance roles while they work towards a professional accountancy qualification.

Employers - you could either apply for graduate accountancy schemes (which are offered by most well-known organisations) or you could apply for a job being advertised in the Finance department of a small or medium-sized enterprise. You will have a lot of choices about the type of company and/or industry you would like to work for, due to the fact that day to day finance is a core part of any business.

Entry requirements - most employers won’t expect graduates to have studied for an accountancy degree. In fact, often adverts will say they encourage applicants from any degree subject.

Finding work experience - you will find lots of companies offer accountancy placement years and summer internships (sign up to the Ratemyplacement website to get regular alerts). You could also look at the Sheffield Volunteering website to see if any local charities are looking for support with their accounts. 

Further information - 

• Prospects - how to become an accountant

Many individuals and organisations require external input to help make crucial business decisions. In such cases, consultants can provide expert analysis in exchange for a fee. This means organisations can get an outside viewpoint to troubleshoot problems and access expertise that they may not possess within their organisation.

Employers - The “Big Four” accountancy firms Deloitte, EY, KPMG and PwC all offer consultancy services. Top global consulting firms include McKinsey & Company, Boston Consulting Group and Bain & Company. Many smaller-sized or “boutique” consulting firms specialise in particular areas of consultancy or particular industries. Different firms tend to have different focuses so you should match your job search to the type of consulting that most interests you. 

Entry requirements - Most employers won’t expect graduates to have studied for a particular degree. Having previous work experience at a consulting firm (e.g., spring week, summer internship or placement year), however, is becoming increasingly important. In some cases, experience is essential to achieving these roles due to the highly competitive nature of the recruitment process. Candidates must demonstrate genuine motivation and curiosity to work in this field.

Finding work experience - Many consulting firms offer placement years and internships. If you’re considering applying for a placement year or summer internship in this area, we strongly advise you to set up email alerts to find out about vacancies (see our “finding opportunities” section for further information). You may wish to consider networking opportunities on LinkedIn by contacting former Sheffield graduates to ask for advice. 

Further information - 

• What is consulting?

• Bright Network – Consulting

• The university’s assessment platform will help students prepare for the online tests.

Asset managers allocate and manage capital and investments to generate profits based on a client's/investor's risk profile. This can be achieved by investing in different asset classes including equity (stocks, funds, investment trusts, ETFs), fixed income (bonds, gilts, treasuries), FX (currencies e.g., Dollar/Yen) and alternatives (real estate, commodities, private markets). Depending on the nature of the asset manager, they will have different objectives and investment strategies. For example, a hedge fund may aim to generate higher returns than the market, while a pension fund may look to manage risk and make returns that match inflation.

Employers - Some examples of asset managers include Baillie Gifford and Schroders, asset management divisions of banks such as JP Morgan Asset Management, hedge funds, family offices, and pension funds. 

Entry requirements - Most employers won’t expect graduates to have studied for a particular degree, although some may prefer individuals with demonstrated quantitative abilities. However, having previous work experience at an investment management firm (e.g., spring week or summer internship) is strongly advised due to the highly competitive nature of the recruitment process in this field. Candidates must demonstrate a genuine motivation and curiosity to work in this industry. 

Finding work experience - Many asset management firms will offer internships. There has also been an increase in the number offering “spring weeks”, which are usually available for first year students to gain some relevant experience during the Easter vacation. If you’re considering applying for a summer internship in this area, we strongly advise you to set up email alerts to find out about vacancies (see our “finding opportunities” section for further information). 

You could also join the University’s Investment Society, which is split into two areas (trading and funding), to gain hands on experience in these areas. Visit their website for more information.

Further information - 

• Top tips for applying to a firm in Investment & Asset Management

• The university’s assessment platform will help students prepare for the online tests.

Investment banks act as a financial intermediary between institutional clients and financial markets. They perform a variety of services across both equity and debt capital markets (public & private). For example, IPOs (floating companies on the stock market), loan syndication and Mergers & Acquisition transactions (where companies buy another company). They can act as a liquidity provider to clients who are looking to access public markets across a variety of asset classes from equities to derivatives.

Employers - Examples of Investment Banks include Goldman Sachs, JP Morgan, and Morgan Stanley. 

Entry requirements - Most employers won’t expect graduates to have studied for a particular degree although some may prefer individuals with demonstrated quantitative abilities. However, having previous work experience at an investment banking firm (e.g., spring week or summer internship) is strongly advised due to the highly competitive nature of the recruitment processes in this field. Candidates must demonstrate a genuine motivation and curiosity to work in this industry. 

Finding work experience - Many investment banking firms will offer internships. There has also been an increase in the number offering “spring weeks”, which are usually available for first year students to gain some relevant experience during the Easter vacation. If you’re considering applying for a summer internship in this area, we strongly advise you to set up email alerts to find out about vacancies (see our “finding opportunities” section for further information). 

You could also join the University’s Investment Society, which is split into two areas (trading and funding), to gain hands on experience in these areas. Visit their website for more information.

Further information - 

• Top tips for applying to a firm in Investment & Asset Management

• The university’s assessment platform will help students prepare for the online tests.

• Prospects - 5 tips on getting into investment banking

Corporate and commercial bankers work with a diverse range of businesses, ranging from small and medium enterprises (SMEs) to large, multinational corporations. They provide banking services and advice to these businesses, helping to maintain the day-to-day relationship with the company and driving custom for the bank’s other products (such as their investment banking services).

Employers - Examples of banks with Corporate or Commercial divisions include Lloyds Banking Group and HSBC. 

Entry requirements - Most employers won’t expect graduates to have studied for a particular degree. However, having previous work experience at a corporate bank (e.g., spring week or summer internship) is advised due to the highly competitive nature of the recruitment processes in this field. Candidates must demonstrate a genuine motivation and curiosity to work in this industry.

Finding work experience - Many corporate banks will offer internships. There has also been an increase in the number offering “spring weeks”, which are usually available for first year students to gain some relevant experience during the Easter vacation. If you’re considering applying for a summer internship in this area, we strongly advise you to set up email alerts to find out about vacancies (see our “finding opportunities” section for further information). 

You could also join the University’s Investment Society, which is split into two areas (trading and funding), to gain hands on experience in these areas. Visit their website for more information.

Further information - 

• The Definitive Guide to Corporate Banking

• A Complete Guide for Entering the World of Corporate Banking

• The university’s assessment platform will help students prepare for the online tests.