Hiring graduates

Two banks I visited this week had contrasting views on the need for graduates in their financial markets division. Both banks were large Europeans and it makes the comparison interesting. The first bank had hired very few graduates in the last four years. It preferred to take on seasoned professionals. They could hit the ground running and were effective from the first day. The only problem was that the salary bill was skyrocketing. The second bank continued to hire graduates - several thousand over the same four year period. They found that raw talent could prove effective within 18 months. It was relatively inexpensive and it kept people on their toes. It also provided a wider pool of internal talent to draw on for senior management. In times of excess volatility thinking on your feet is a prerequisite. But when things settle who will be better positioned? Those that firefight or those that think about the future?