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Finance/Banking Jobs in Germany

13 posts in this topic

Posted

Hi Everyone,

Apologies if this question has been covered previously. I did find some older posts but looking for some more specific guidance.

I am considering a move to Germany.

I have several years UK experience in banking/finance/projects. My mother tongue is English.

I have learned some basic German (lower intermediate) but not good enough to work in an office.

Pretty flexible on location however believe that Frankfurt is likely to be the most practical location.

I have approached various agencies based in Germany for advice.

Can anyone recommend some firms and agencies open to assist English speaking professionals?

Has anyone had experience with moving from US/UK to Germany and landing an equivalent role? How did you do it?

How should I set my expectations?

How buoyant is the market at the moment? What types of roles are on offer - permanent/contract/other?

Thanks in advance. Happy to provide more info.

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Posted

I am experiencing the same problem. I am a recent Finance grad from the US and It's been near impossible to find a position. I am moving to Munich on December 11th and I still haven't secured a position! I have been applying literally everywhere for the last three months. Allianz is very English friendly you should start their but I haven't had much luck.

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Posted

I guess that I am stating the obvious here, but it is much more diffiult to find work in Germany from overseas. Life gets much easier when you are in the destination city.

There are several things to bear in mind. Germany tends to be much less agent oriented than London, and many companies use their website as a primary location for advertising positions. Almost everyone speaks english at a decent level, but speaking German is really important in most jobs.

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Posted

Needless to say, the big German banks are shedding as many jobs as the big British banks are (many of them base/d their trading operations in London as well), so keep that in mind.

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Posted

I am a recent Finance grad from the US and It's been near impossible to find a position. I am moving to Munich on December 11th and I still haven't secured a position!

At your age you compete with Germans who did their "Abitur" and then a typical 3 year "Ausbildung" with a bank, which is more valuable than e.g. a foreign Bachelor degree.

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Posted

I don't think Germany is a good destination for finance people, especially coming from the UK. (I have studied mathematical finance, and had to steer my focus in order to find a job here)

You may try to land a quantitative job at one of the big reinsurers, however they oftentimes require C1 german because you will have to deal with clients. Furthermore, you often compete with people who get out from german unis with PhDs and who have completed projects together with one of those big firms, so...it's not easy.

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Posted

I am a recent Finance grad from the US and It's been near impossible to find a position. I am moving to Munich on December 11th and I still haven't secured a position!

Do you also have an EU/EEA/CH passport? Or a spouse with an open work permit for Germany? If not, keep in mind that Americans can only spend 90 days every 6 months in the EU without a residence permit and a recent business grad is not likely to be able to pass the Vorrangprüfung (see the wiki for further info).

If I were you I'd reconsider moving and just plan a nice holiday in Munich.

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Posted

I don't know if a link to this article has been posted elsehwere, but I find the comments by the readers to be most interesting. I've not read them all but the interesting bit about qualifications and trying to find a job start with a commen from HexagonSon.

http://www.guardian.co.uk/money/2012/nov/26/uk-expat-guide-germany

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Posted

If I were you I'd reconsider moving and just plan a nice holiday in Munich.

Yes, we have some nice X-Mas markets here. It makes no sense anyway to apply for a job in December. People drink Glühwein and take two weeks holiday. The shop opens again after 6th of January :).

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Posted

European banks are only halfway through the job cut cycle. There are tens of thousands of jobs yet to be cut. There may be some opportunities, but they will be very specific. The market is as bad as I've seen it in 20 years.

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Posted

Thanks for the replies so far.

Unlike the other poster I am not a graduate and wouldn't require any visa. This assumes that you can work in Germany on an EU passport (without additional application) or a German passport issued outside Germany?

When applying direct, is there any preference in recruitment - ie phone interview or face-to-face?

Is there a sizeable contract market in Germany? Or is it primarily permanent?

Appreciated that the industry is shedding jobs, but take it there is some demand for certain skill sets? Risk/regulation/technology/offshoring etc?

Are there any other financial centres in Germany outside of Frankfurt and Munich?

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Posted

This assumes that you can work in Germany on an EU passport (without additional application) or a German passport issued outside Germany?

As an EU citizen you can take up any type of employment (including through an agency) and/or be self-employed. Keep in mind that EU citizens taking advantage of their right to Freedom of Movement are required to have an income/adequate funds and German approved health insurance.

Is there a sizeable contract market in Germany? Or is it primarily permanent?

Fixed term contracts are possible under German labour law for a maximum of 2 years (unless the company can prove that the position is truly only temporary). Contracts that are fixed for two years with the option to become permanent are becoming more common. In general it is not as easy in Germany to fire workers as it is in Anglo-Saxon countries. Furthermore, any company with a Betriebsrat will not even consider hiring new staff until they try to fill the position with current employees or ones who were recently laid off.

Appreciated that the industry is shedding jobs, but take it there is some demand for certain skill sets? Risk/regulation/technology/offshoring etc?

If you provided more info on your skill set perhaps someone can offer an opinion on whether there is any demand in your area.

Are there any other financial centres in Germany outside of Frankfurt and Munich?

Frankfurt is the only financial centre in Germany.

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Posted

Are there any other financial centres in Germany outside of Frankfurt and Munich?

Düsseldorf and Hamburg in a limited way.

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