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Barclays Graduate Scheme - Wealth Review

  • Work/Life Balance

  • Practical Skills Learnt

  • Live Up To Expectations

What have you done in the early parts of your role at Barclays Wealth?

I joined Barclays Wealth on their graduate scheme. The graduate scheme is a bit unusual in that my role might differ greatly from other working on the graduate scheme.

Firstly we have a general program called the Initial Training Program (ITP) followed by studying for the Investment Management Certificate (IMC). The IMC is something that we are meant to prepare for however the 7 days of classes with 7 City Learning was sufficient to get through the course.

Is there a lot of training and teaching involved in the early stages of your career?

Yes there is a fair amount of learning and teaching before you are eventually placed in to a role in the firm. It is quite comprehensive because it is not just restricted to general training, they also teach you firm and department specific aspects that really help you to understand the business. I am still currently studying for the CFA qualification at the moment but they ensure that if you are in a role that there is specific time allocated to allow you to study. For example I am currently on a week of classroom studying for the CFA at the moment.

What hours do you generally work?

Whilst I am studying for the CFA my hours are generally a little bit shorter, when I am working at Barclays Wealth from about 8.15am until about 6pm although this can vary from grad to grad.

What do you do after you have finished your initial training?

All graduates are placed in a front office role within Barclays Wealth in a private banking seat. You are then assigned to work alongside a private banker and this is where the roles that you are in as a graduate can vary from person to person. Depending on what line managers you are assigned to determines the type of work you might undertake.

How many other graduates are on the scheme with you?

There are 39 graduates each working alongside a different line manager and private banker.

In your role at the firm what sort of tasks do you get given?

My private banker is a specialist on Mortgages, which means that my role involves lots of credit applications and other associated duties. There are various different aspects to my role and a lot of it revolves around the specific client requirements.

There are two main different types of approaches to clients, one is client farming, which includes dealing with general ad hoc queries that a client might have about their statement. So this includes work that is more focused on maintaining the relationship with the client. The other type of client we get with require us to actively pursue new clients and develop new relationships to bring business to Barclays Wealth.

Barclays Wealth and Capital have recently gone through some changes including all coming under the combined ‘Barclays’ banner, have you seen this have any effect on your role?

I have been here for the duration of the change and haven’t seen any changes really and it hasn’t had any impact on my role. I think it is more of just a rebrand.

Have you learnt anything that you didn’t expect to learn in your time at Barclays?

Yes, I think in the duration of my time here I have experienced comprehensive training that has taught me about different areas of the business. So, in all, I have learnt general financial knowledge as well as topics such as derivatives and equities, so some more specific areas of the business. I think also, because we all work under different line managers that are involved in different business areas I think that the graduates overall are able to boast a broad knowledge range across the group.

Can you describe what the clients you deal with are like and do they vary greatly in their requirements?

Barclays Wealth as a whole deals with different clients for different purposes and they have a wide range of different requirements. Some clients will use Barclays Wealth for what we call ‘Vanilla Banking’ which involves general duties like transferring funds over from account to account, which funnily enough is not something that is generally done by our competitors.

Then the more familiar side of the business is the investment management side, which can have two different sub-divisions of clients, one is a client that gives control to Barclays to make the investments on their behalf and provide them with reviews and updates. The other types of clients are those who invest the money themselves and Barclays Wealth employs more of an advisory type role.

Did you apply to anywhere else when you made your application to Barclays Wealth?

Yes, I applied to quite a few places in a variety of different industries. I even applied to some insurance companies and even some more industry focused companies like BT and Proctor & Gamble.

Have you seen any main changes in values or focus at Barclays Wealth since being there?

They have changed their values quite recently in the wake of the scandals regarding tax avoidance and there is definitely more of a focus on being more ethical and not employing particular tactics that could be seen as dodgy or unethical. This has led to us not using some instruments that were commonly used before.






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