Contracting is a great way for graduates to get their foot in the door of the financial services sector and a fulfilling way of starting their long-term careers. Tom Wilding from our GGR team discusses the benefits of graduate contracting within the financial services.
As a recent graduate myself, I had never considered contracting as a potential career path. It was not something that I was really aware of as a viable and exciting foot in the very heavily competitive, financial services door.
Through working at Grovelands, I have been shown what contracting has to offer for graduates, other contractors and employers.
Firstly, what is contracting?
Simply, you are a contractor if you work for somebody for a certain period, under a fixed contract to help them complete a project. Contracting work in the financial services sector offers graduates a real opportunity to build a long and successful career in the industry and can translate to further and more lucrative contract opportunities in the future.
More experienced associates with Grovelands have spoken widely of the benefits of working alongside graduates. These contractors often have vast industry experience that is supplemented well with a graduate’s ability to grasp techniques quickly, their aptitude for technology and drive and determination to achieve and succeed.
In addition to this combination, a graduate’s eagerness to get involved within their roles pushes their colleagues positively, ensuring all parties are working efficiently and effectively to get the most out of each other.
As an employer, graduate contractors offer a sustainable option for completing both long and short term projects. Banks and building societies can expect a certain calibre of contractor in graduate positions due to the impact a degree can have on learning and reasoning skills.
Graduates are often looking for career progression and so their work ethic is particularly strong; they have a willingness and a drive to succeed as the first stepping stone in their career is always the most important. These attributes suit the short term, high pressure projects that require completion in the financial services industry.
Why choose to become a graduate contractor?
The benefits of contracting for recent graduates are numerous. As contracting is such an intense exposure to the financial sector, it offers numerous transferable skills, starting a career within banking that can be varied and exciting. It is these skills that give candidates the chance to work on many different projects, with many different companies, around the UK and beyond.
In addition to the transferable skill set one can develop, there is also the ability to gain expertise in a broad range of roles within finance and banking. It is this expertise that can mean the difference between securing some of the higher paid contract positions and not.
Speaking of pay, contracting is a well-paid alternative to permanent work. Typically, contractors will be earning more than permanent colleagues in similar positions, due to tax being applied differently to contractors and overtime/overproduction.
This gives graduate contractors a chance to earn enough money to complete valuable (and expensive) qualifications to build upon previous experiences. The ability to take time out between contracts also gives a graduate contractor the chance to gain life experiences and have some time away from work; an opportunity most can’t afford.
An area of contracting that is often forgotten is the social nature of it. Projects often require teams of contractors to work effectively with each other. This unity in the workplace often leads to firm friendships and a close network of business connections, with many of our associates often applying for positions with friends in mind.
Who are GGR?
The Grovelands Graduate Recruitment team are here to give graduates the chance to pursue a career in a dynamic, diverse industry that is ever evolving.
We believe contracting is an opportunity not to be missed by graduates looking for their career break. It is not just requirements we are trying to fill, it is a viable career choice that we believe in.
If I could have my time again, fresh out of university, I know what I’d be trying to do!
– Tom Wilding