The once sought-after steady job in the bank has lost some of its sheen in recent times. In the economic party years, stability and security were not the highest job priorities of prospective young employees. However the glamour jobs, particularly in the IT sector, are taking quite a knocking currently and the steady old reliables, like banking, are gradually re-emerging as very attractive job options.
Of course the banking industry has not remained static and is currently in a state of change, with the advent of the euro and changes in banking practices, including controversial moves towards more electronic banking and reduced in-branch service. All this translates, we're told, into a greater variety of jobs and more movement within jobs in the banking sector.
"The market is very different now from years ago," says Deirdre Flanagan, schools liaison officer with the Irish Bankers Federation. "People used to think banking was boring, but the market has really changed. Before now, graduates coming out of college were going for IT jobs, but in the last two months that trend has been lessening and the banks are really gearing up to attract them."
All banks will have their own individual recruitment policies and recruitment needs; for example, at certain times only third-level graduates may be required to fill particular posts. However most of the major banks will have similar entry-level positions, Flanagan says. "People coming in after the Leaving Cert could start working as bank assistants, personal assistants or in data input and a number of other entry-level jobs. Going in at another level, after university, they could be doing more specialised jobs depending on their degree."
Entering the bank at a particular level does not mean that's where you have to stay and people going in with a fairly average Leaving Cert are given every opportunity to reach the same level as someone who holds an honours degree, according to Flanagan.
"The banks encourage training and development so much," she says. Most banks have well-developed education programmes where they pay for you to further your education while you work. Your educational achievements will be reflected in your pay and in one-off financial rewards. "They know that for many people it's not possible to go to college, so they can start working and continue their education from there," says Flanagan. "Sometimes people don't get the points for finance degrees and think that option is out for them. The banks give you the opportunity, if you're willing to work. There are lots of different options and interesting positions - there's something there for everybody."
Ulster Bank is typical of a large clearing bank which recruits at both school-leaver and graduate level. School leavers need to have five Leaving Cert passes, including English and maths. "Applicants who meet these criteria are invited to sit an aptitude test, testing clerical numerical and communication skills. They are also shown a video about Ulster Bank," says Tina Wallace, head of human resources there.
Those who are successful go on to an interview and are mainly selected for sales and services type jobs. "Customer-service officer would be a typical entry-level job. They act as support units in departments."
Customer-service officers can progress to become customer advisers, team leaders and eventually branch managers. The starting salaries are not particularly impressive at around £13,400, with an extra £2,000 for those living in Dublin, but it's a typical entry-level salary for the industry and there are plenty of opportunities for advancement.
"The benefit of working in a large organisation is that you can try your hand at different types of job in the human resources, training, finance or lending areas," Wallace says.