Human Resources Analyst - Peter O'Rourke

Investment Banks have the most extraordinary number of jobs within them - it can be completely mind-boggling. Every time we went near one, we found a whole new department or group of people that did something we’d never heard of. This seems to be due to the immense specialisation within banks, where it can be quite possible to sit next to someone but have no idea what they do.

There are a couple of major distinctions worth highlighting. Investment Banking or ‘IBD’ tends to be the department which most people imagine when thinking about an investment bank. They are the ones doing huge M&A deals, putting in incredibly long hours (14 hours plus each day - including weekends, for months at a time - is not uncommon) and schmoozing with business leaders. Work/life balance is not easily found, but on the flipside the work you do will likely be high-profile and give you an enormous breadth of business and finance experience. This means that if you want to leave London or Investment Banking at some point you shouldn’t have a problem, as the skills gained are very transferable. We've met ex-bankers in companies ranging from renewable energy start-ups to large pharmaceuticals.

Capital Markets is where you’ll find the traders, salespeople and research analysts. They’re market-based and are the ones you see on TV shouting down phones and pacing frantically in front of five flickering computer screens. They’re monitoring market activity and reacting immediately to any changes. It’s noisier and a bit more adrenalin-fuelled than IBD. One of the big perks of Capital Markets (other than the actual job), is that the hours tend to reflect those of the market. That means early starts, with most people in the office by 6.30am, but it also means you tend to be out by six in the evening - and there is almost never weekend work. So if you’re an early riser the work/life balance is pretty good, especially compared to IBD. One limiting factor is that you’re in a highly specialised, role usually in a very specific market area, so there’s not much in the way of transferable skills. If you’re an FX institutional salesperson it’s not that easy to move into another product area, and you’re going to be tied to working in London (or another major financial centre).

Beyond these two areas you have a massive range of middle and back office functions. There’s Technology, Operations, Legal, Finance, Marketing and HR for a start. So if banking interests you then it’s definitely worth looking at the breadth of what’s on offer. The other thing that struck us about banks was just how diverse they were. Without doubt, they had the most mixed workforces we saw, with every member of a team often from a different country. While this makes for a really dynamic and interesting work environment, it does mean that when you’re applying for a job, you’re not just up against your peers in this country but across the whole world - so that application form had better stand out!

Who are you and what do you do?

What is Human Resources?

I think to put Human Resources in perspective, in Barclays Capital, we have I think between 70,000 and 80,000 employees globally and Human Resources is basically the department which tries to manage that and look after the employees. So I think you have many different functions.

You’ve got your recruitment - so identifying talent; you then have areas such as learning and development or performance management who are really trying to nurture that talent into fine pathways to find what is working for the individual, to get you from the person coming in to someone that is a future leader of the business.

You’ve got other functions like compensations and benefits – so making sure that we are paying at market rate. If we have got a great person doing a great job, we don’t want to lose them to a competitor because they are underpaid, but at the same time, we are an investment bank and we are here to make money so we don’t want to be overpaying unnecessarily.

Then you’ve got other functions like employer relations, which I am in at the moment, which deals with the rare occurrences that an employee might not be having a great time and needs some help working them through that. We work on solving that to get an acceptable solution for both the bank and the employee, ultimately - the more motivated and the more comfortable our employees are the more they are going to deliver for the organisation.

So I think in some ways Human Resource management is hugely varied, and it is basically getting in and getting the best people through the door, keeping the best people, developing them to make them even better people, and making sure we reward them fairly.

What attracted you to this career?

My original background was studying finance and accountancy at university and I think what I realised partway through that course was that it was perhaps a bit too black and white and I wanted something where I could make a bit more of a visible impact. So I fell into HR - I originally applied for a finance job when I was looking for my placement, so then my realisation that I didn't want to be an accountant was halfway through that process and the company I went to work for let me change and offered me a role in HR. I didn't know much about it and took it on perhaps on a bit of a whim - you know, either this is going to be brilliant or I am going to hate it - but I took the gamble and I loved it, I found it really rewarding. I think the reason I chose HR over marketing is that it’s incredibly motivating, whether you are working on recruitment or you are out on campus or even if you are dealing with experienced hiring. You might be going through 30 applications for one position and to be able to hand-pick two or three that really stand out and progress them through the process or see them getting interviewed. To see different parts of the business fighting over them is tremendously rewarding and I think HR across the board offers you that opportunity. If you are in learning and development you may have an employee who was struggling to deliver in their job and you have gone and identified the skill gap in their job, you have set up a training course for them or got them to work with another member of their team who does have that skill, and you see them really flying, or six months down the line leading something or walking about with confidence they didn't have before - I think it is tremendously motivating. So I definitely see myself long-term staying within HR functions. I think it is something I feel I can make a real difference in and it is something that gets me out of bed in the morning, and makes me think I want to go in and I want to do that and I want to go to work.

What does your job involve?

I am a graduate on an 18-month programme with three six-month rotations. So I have just complete my first rotation which was in HR projects - I worked on two large global projects in that time, and you sort of build relationships with technology and the actual business areas that are going to be using the systems we are implementing. I worked on a global recruitment project, which is an end-to-end that we have put in, and then all the budgeting tools for hiring into the business as well.

What different rotations are there?

You get quite a lot of choice. Obviously you have to be aware that if the business needs you as a resource somewhere, that is going to take priority, but you get quite a lot of input into it. So my peers are currently working in a generalist role, which means they are acting as a business partner, so they are the HR lead sitting with the business. Some of my colleagues have also worked in compensation benefits, working on what the firm pays, the market rates etcetera, and I have just started a new rotation in Employer Relations. So I think the HR programmes, like a lot of the graduate schemes within Barclays Capital, have rotations so it is very flexible. You get to dip your fingers in lots of pies and really, I guess, try before you buy, for want of a better saying.

What do you do on a typical day?

It really varies which is why I love it. I could be on the phone in the morning dealing with recruitment consultants, who are using one end of the system, who are maybe struggling to upload a candidate’s CV, for example. In the afternoon I could be sitting on the trading floor training a hiring manager or senior manager on the floor how to use the system and how to make a decision on the CV that the agent might have uploaded in the morning. So it really does vary - working in a project environment you inevitably have problems come up every day out of the blue, so you might have a nice clear list of things you have to do and you might end up only doing five of them and dealing with five new ones that come up.

Describe the process of your work?

In terms of describing the process I sort of revert back to the age legislation and the Age Discrimination Act came out in October 2006, if I talk you through what the employ relations role was within that. Basically when it came out we would be the function that would bring it in within the business and look at how it is going to impact. We’d list out impacts A, B, C, D and how when this gets made law is there any way at the moment that we would be breaching this. So a campus recruitment website is an obvious example. Words like ‘young’, ‘energetic’ would be something which inadvertently, if you were looking it at it as an older candidate - maybe someone who has gone to university late as an older graduate, is that going to put you off, is that going to make you think that graduate scheme is only for 21 year olds so it is making sure that we weren’t inadvertently ostracising anyone from that process. Getting rid of words like that and making sure we had a balance as well, so if we have profiles on our graduate website we didn't just have the people aged between twenty and twenty-five, we had some profiles of the older graduates as well. So just making sure our employment terms and the contract was fair, so it really impacted over a wide range of businesses. So the Employer Relations role was to rewrite the policy that needed to be rewritten to make sure we were encompassing everything; that we were falling within the law and providing a fair employment environment where people of any age would feel comfortable and would want to work.

What are the best bits about your job?

Learning is a big motivator. When you are working in projects you are designing a system, you are pretty much picking up a problem and the reason you are being given a budget, or your team is put there, is because there is an inefficiency or there is something not working within the business. So for me, it is going out and speaking to the business, the end users, the people that are basically having this problem, understanding that and designing a process to get around that. And I guess by working with them you are getting the buy in, and seeing their satisfaction when you have made their everyday life easier is rewarding.

What are the worst bits about your job?

I think if everyone is honest, no one likes mountains and mountains of administration. I think it is inevitable that you do get a little bit in every role, so I think it is just being disciplined with yourself and if you break it down and just sort of spend thirty minutes to an hour a day doing the boring bits which everyone has in their job. So it’s controllable, whereas previously I may have left it until a Friday and then you have a pretty boring Friday - but I think overall I have to say I really enjoy it and can’t think of anything that I have to come in and dread having to do.

You can be dealing with people at emotional times, so you may be dealing with someone who has just had a bereavement in their family or who has just found out they are going to be off sick for whatever reason. So it is quite emotional and it is a skill to learn to try and stay detached and not get too caught up, because the role requires you to step back and have an objective view, but humans do have their idiosyncrasies. I think inevitably there’s people you love working with and people who are more of a challenge to work wit, but I think that is a great learning experience and things like your emotional intelligence, your reading of people, your soft skills really pick up when you work here - they have to for you to survive.

What has been your greatest achievement?

When I joined my first rotation I joined towards the end of a project so had very limited project experience, so that was quite a steep learning curve. And then after three months I got put on to a new project where I took what is called the process lead, which is the role of actually working with the business and designing the system and I got some very positive feedback from that. The system has now gone live globally within the front office of the company so it is something I am very proud of to have achieved in such a short space of time - and the system is working, it is out there and making an difference.

Interviewer: Can I just ask what you mean by the front end of the business?

Basically within the bank we have two main terms, which are front office and infrastructure. Front office is, if you like, the money-making side of the business, so our traders, our investment bankers, our sales people; whereas infrastructure is more technology, our legal, our HR.

Any regrets?

The one thing I might do is do a Masters before I joined the graduate programme. So to put it into context, I am having a great time, I am really learning and the company has shown a huge vote of confidence in me, and they are funding me to start my Masters part-time in September. I think realistically it is going to be a challenge to be studying and working in a demanding role, so I might have looked to do that differently but at the same time I am very pleased with the support the company are showing me. They let you have days off to study if you are doing a professional qualification or post-work qualification - so that is the only thing I might look to do differently.

If there is a qualification that is relevant to your job role or the area you are in the company are very good at offering support for you to do that, so in my particular case I am going to be starting a Masters in Human Resource Management which gives me accreditation to get my professional qualifications. So the bank, as well as funding that, will let me have days off to study. And obviously it is a great place to work and if I am writing a thesis on that topic, I have got so many colleagues with so many years’ expertise who can be my resource to study.

What is the pay like and are there any perks?

When I was doing my research I think you do take what pay you are going to get into consideration and the way I can summarise it is the investment banking is overall a well-paid industry. And I think that is not only in the front office space but also in infrastructure so certainly compared to HR graduate schemes in the retail sector, it is very attractive and very competitive pay so I am pretty happy at the moment.

How long is a working day and do you have to work out of hours?

I think if you are honest, investment banking is very competitive - it is very rewarding in terms of pay and benefits you get, so it is not something you sign up for if you are a person who is just looking for a nine to five role. But I think it is important to have a balance, and certainly the firm supports you having a balance. So for example if you are going through a quieter time there is nothing stopping you working eight thirty to five thirty. But at the same time - if you are coming up to a bottleneck or there is a lot of work on - I think it is not expected, but something people do, is maybe work slightly longer hours. Personally I have never had to work weekends but I am comfortable if the job needs doing and needs doing at a certain time, you do stay a few extra hours.

Is there much in the way of travel?

I haven’t had the opportunity to travel yet, but I was certainly very jealous of some of my colleagues on the projects I was working on. Working on a global project, they were going off Tokyo and Singapore and the States and unfortunately for me I joined just a little late so I wouldn’t have added value going out to those places. But certainly some of the other graduates, my housemate for example, she works in emerging markets in the front end sales desk so she is always coming to and from Moscow and places like that - so travel is a perk that some job roles have.

Do you have to be based anywhere in particular?

Working for this part of Barclays Group in Barclays Capital we do have core function here in central London. I am not sure what opportunities there would be regionally because I think within the Barclays Group, certainly within the retail environment, we have a lot of regional offices - so there is a lot of opportunities within the group overall if you weren’t someone that was comfortable with or not particularly looking to live in London.

What is the working environment like?

I think regarding dress code it does vary by department, and so HR does tend to be more of a smart area than some of the other areas, because it is business attire as you get with the majority of firms.

In terms of diversity and the demographics within the department, I think it would be fair to say there are more women in HR than men, however there are quite a few men in Human Resources and I certainly don’t feel like a minority there. And I think there are different skills and different functions as well, so certainly is somewhere such as Compensations and Benefits and another one would be Management Information which is dealing with all the reporting and technical sides of HR - you see a more dense male population.

How did you get into your job?

As far as I am aware there is no set qualification or particular degree subject or institution that Barclays look to recruit from. I think what they look for from an assessment day and when assessing people is your skill set, your ability to deliver - so I think having a strong academic background helps because it is as proven track record of how you have been able to learn, but I don’t think it is the be all and end all. I think it is the softer skills, your emotional intelligence, are things they look for.

In terms of how I got this role, I guess the advice I would give to students looking to get within the industry is that it is hugely competitive to get a job within this industry so you need to get as much experience as you can - so for me I did a twelve month placement with a company in the technology sector within a Human Resources role. I was then fortunate to get an internship with the Barclays Group, again within an HR role, and from that I made contact here and I got myself a few weeks unpaid work experience here. I put myself out to get some connections here to get some experience, so I think it helped when I came to the assessment centre and the application process. Having an understanding of the ethos, the culture, how the firm works, are what made me stand out from some of the other candidates there.

What's the application process like?

The application process is an online application form where you attach your CV. There is then some online testing, I know some students are horrified at the thought of it, but I think it is one of those things we all go through enough with exams at school and university - you give yourself time, you make yourself practice. I don’t think they are overly stretching to get through, as long as you do the preparation. And part of the process is a telephone interview which I think is with Human Resources, and then you get the assessment centre where you meet the business and you have things like group activities, presentations, case studies. So like I said they are trying to assess your overall skill set, I think ultimately most students are relatively nervous but it is something where you have to take that opportunity and use it as a learning experience. So even if you don’t get the role, you have learned something, and when you come around to your next assessment centre you will be able to deliver even better.

What are the key skills required for your job?

Firstly, time management is one, because you tend to get different things coming up during the day. Particularly working in Human Resources, you have situations come up on a daily basis that aren’t expected, so it is about being able to juggle that. I think also emotional intelligence, because you really need to be able to read and understand people and, if you are dealing with a situation, how to basically respond to that, how best to help that person get through or work through the solution you are looking for. I think presentation skills as well, as you are often presenting around the HR side of the business out to HR leaders, and being able to stand up and present is important.

What's your top tip for breaking into your industry?

Like I said, my biggest tip would be to go out and get yourself some experience before you are looking to get your permanent graduate position. So that might be through an internship, through work experience - I know that we and some of our competitors run spring courses, which are week-long courses that give an insight into the banking industry - so I think just getting on one of those, getting some understanding is one top tip. I think the second top tip is - although we offer a multitude of careers so if you like Human Resources or global marketing  those two examples aren’t directly linked to having to have a detailed understanding of investment banking and how a bank makes money - I think you have to have some appreciation and basic grounding of that. So little things like reading the Financial Times and showing an understanding to demonstrate why you want to work in this area of the industry, I spent a few weeks on the campus recruitment as well, so I think certainly when you are reading application forms you can tell if somebody has just written a couple of sentences without really thinking or if someone has actually gone away and looked at the consulting sector and looked and the investment banking sector and made an informed decision of why they want to work in one or the other.

What's the career progress and how quickly can you move up the career ladder?

I think the progression within the company is based on meritocracy. I think it does vary by individual. Having only been here for about eight months, I am on an eighteen month graduate programme to start with, which is three six-monthly rotations, so I wouldn’t be expecting a promotion during that period. But looking across my department at the previous years’ intake of graduates, they are all starting to reach that level so within the alumni of HR graduates you are seeing managers, associate directors. I think that is hugely motivating, to see people who are relatively young, who may have been a graduate themselves three or four years ago, starting to climb that ladder. And I think graduates are very well thought of and looked after within the business. So people have always got time for you as well - you can contact a managing director or director and introduce yourself, go and have a coffee, try and build a relationship. So it is based on meritocracy, if you are able and you can delivery then you can climb the ladder quite quickly.

How does the role change over time?

I think being honest, the transition between graduate and manager, which would be the first step, I don’t think your job role would be hugely different - because what they do here brilliantly here is they really do give graduates responsibility. You aren’t doing the filing or doing the admin - you are expected to deliver and go out and really have responsibility on your shoulders straightaway, so from that it is a natural progression. But I think as you get more senior, as you start to manage bigger teams, your remit and your responsibility inevitably increases as well. So I guess the main challenge for me or what I would like to do as I progress would be to stay hands-on, and I have spoken to some of the more senior people in my department and have said that. In previous companies I have worked for I have noticed a trend of when you get to a certain level, you are quite detached and not necessarily in touch with the business, and I would say that is certainly not the case here. The directors within my department still deal with the process and go out and are in touch with the business and I think that is what makes them great leaders - that they are in touch with what is going on everyday.

Where do you see the industry going?

I think HR is becoming a global function, so certainly, everyday I am looking at the difference between policies and procedures we can have in the UK compared with what we want to do in the States, so it is fitting in those different legal and regulatory boundaries. I think a hotspot as the UK embraces European law more is the guidelines around working hours and conditions and everything that is coming out of there. It is quite difficult and bitty to stay on top of, and I think it is quite important because as the UK signs up to more and more of these initiatives it is going to change environment that we have here. So is there anything that graduates need to be aware of at the moment? I think inevitably, understanding what has caused the market turbulence and the credit crunch, because I think you are going to get questions on that at assessment centres- and I think little things like the FT and keeping up to date with business news - just having that overall knowledge is a great starting point.

Is there scope for movement during or after this career?

Certainly there are people who have career breaks within the organisation; there is someone on my department who is on a twelve-month sabbatical. There is also a colleague I have been working with who is about to go travelling for six months, just wants to chill out for a bit. So it is definitely something that the bank is flexible enough to do. In terms of coming back in I think, being honest, if you have been away for six or twelve months there probably is a little bit of catch up to do if you haven’t been staying on top of the latest developments or reading things. Certainly within HR we have things like CIPD, which are a professional body of excellence, and they have magazines, emails on a weekly and monthly basis, which are useful for us to stay on top of. I think, being honest, the professional qualifications I am working towards are very specific for the HR function. But definitely the skill set I have developed is very transferable, and I think working for an investment bank, working for a big, strong brand like Barclays Capital, is valued by other employers - so if you are seeking employment elsewhere it definitely adds some status, if you like, and makes your application stand out from all the others.

What are the industry resources that someone interested in joining must know about?

I think there is a minefield of information out there and everyone has their own individual preferences. I keep banging on about it, but the Financial Times, because you do need to have a grounding of what is going on in the financial markets. In terms of HR there is the CIPD, which is a great resource that has publications and papers being published all the time. I think it varies based on which particular role you are in at the moment, so I think if you are working within campus recruitment, which I spent some time in, you tend to follow more things about graduate recruitment or initiatives in recruitment systems. Whereas now that I’m based in employer relations I’m tending to look at the legal side of employment law - so I sign up for updates on that from law firms. I think it is about being a bit savvy on where you need to get your knowledge from and what is useful to you.

If you weren't in this career, what would you be doing?

I would probably like to be a professional cricketer but haven’t got the talent! I think I would still like to do something involving people - I think if I wasn’t working in-house in a HR function, I would probably be looking to do something like human capital consultancy with one of the consulting firms.