The investment banking business has an image problem. Battered by billions of dollars in write-offs, tens of thousands of job losses, and the humiliation of having to go cap in hand to governments to keep some of them afloat, the reputation of a profession that once seemed among the most glamorous in the world has taken something of a nosedive in 2008.

Having been blamed for foisting unsuitable mortgages on even more unsuitable homeowners, packaging up debt in ways that were too clever by half, extending credit to just about anyone who wanted it without asking whether anyone could afford it, all while earning mind-boggling sums of money, it is fair to say banking is now considerably less of an appealing option for anyone leaving school or university than it was 12 months ago.