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UCD graduates who have crossed the pond to London talk to Business and Careers Editor Matthew McKeown on how to make it in finance
Every year, hundreds of Irish graduates leave Ireland for London. The city has become particularly attractive to those pursuing opportunities in finance and business. "If you want to work in business, you want to be in London," says a real estate private equity analyst at a Tier-1 firm, having made the move himself. "There are way more opportunities here".
It's a shared sentiment among recent UCD graduates now working across London's financial institutions. But what makes London so attractive to these alumni? What is it actually like to work there? And what advice do they have for undergraduates looking to follow in their footsteps? I spoke to four recent graduates: an auditor at a Big Four firm, a private credit analyst at a bulge bracket bank, a real estate private equity employee at a Tier-1 firm and a fixed income analyst at another large investment bank.
There was no starightforward path that led these interviewees to their current role. But all possessed impressive previous experience, be that in the form of full-time roles or internships.
The private credit analyst also stressed the value of gaining early experience, having completed three internships in university before landing a full-time role. Her perspective on the process is honest: "It takes so much failure. [...] Stuff will come, it's just about trying again and again and again".
A common misconception is that you need a Quinn School degree to break into London finance. One Big Four auditor who spoke to The University Observer has a science degree. "The course you do in university doesn't really matter as much in London," he says. "It's just about spinning it in a certain way."
Every graduate I spoke to had been involved with something outside their academics. Society leadership, sector management in the student managed fund, involvement with the Hult Prize and
Enactus, these distinctions matter, but not merely as CV padding. "If it's got some strategy or competition, they like it," the fixed income analyst notes. Part time roles in hospitality and retail can also be valuable. "People care if you have some kind of customer-facing role on your CV. They want to know if you're able to talk to people".
The recruitment process is notoriously gruelling, often involving 8-12 rounds of interviews. Yet there's a practical edge if you understand it. "Most CVs look the same," the PE says. "If you have something that makes you stand out and you're able to differentiate yourself, that's what matters".
Another huge advantage exists: the UCD network that exists in London. "For sure, you need to reach out to as many people as possible,’ the PE analyst emphasises. "Irish people know how tough it is to get into London, so they're willing to help".
The private credit analyst adds: "People are so willing to meet. I would meet with anyone I can relate to, whether they're from UCD or looking to get into private credit. Maybe at one point they were in the exact same place you are". Reaching out isn't presumptuous. It's what people in London expect from ambitious Irish graduates, and they are genuinly willing to help.
There are drawbacks. Hours can be very demanding. 90-hour weeks are common in certain sectors and seasons. Yet the bankers that spoke to The Univeristy Observer contextualised this carefully. "It wasn't anything insane," one insists, adding that "if you're going to put in that effort, now is the time to do it".
This wasn't seen as hugely harmful by those making the leap. The private credit analyst captures why people accept this trade-off: "In a demanding place [but], you will learn so much".
The path to London finance from UCD isn't straightforward. "You have to back yourself," the fixed income trader says. "There are people from UCD in almost every major financial institution in London. People seem to end up doing very well".