Students still lured by jobs in financial sector

Judging by the latest accounts for the Institute of Bankers in Ireland, there is no shortage of interest in careers in the financial sector, in spite of the bad press the industry has received over the past six years, and the shrinkage in retail banking as a number of foreign groups withdrew and the domestic ones shrunk in size.

The institute, a not-for-profit organisation established to promote education in the field of banking and finance across the island, earned €9.9 million from course and examination fees in 2013, up a healthy 16.5 per cent on the previous year.

It seems this was due to an increase in the numbers taking higher value degree and masters courses. Student numbers run at a steady 10,000 per year.

This was responsible for the uplift in total income last year to €11.6 million from €10.3 million at a time when corporate and individual subscriptions both fell, and its bank interest was down marginally.

The uptick in activity might explain the increase in staff numbers from 46 to 51 and the near 20 per cent rise in staff costs to €4.3 million.

The institute, which is chaired by Ulster Bank chief executive Jim Brown, also booked an actuarial gain of €489,000 on its defined-benefit pension scheme although there was a deficit of just under €2 million at year end.

This was the only red mark on an otherwise positive annual report.