A total of 52 per cent of CISI members said a degree was a must to enter financial services career - with 36 per cent saying at least a 2:1. This attitude persists despite the crippling debt students now take on, a slimmer financial sector in London since the crisis and graduate recruitment programmes shrinking year-on-year.

But encouragingly, 48 per cent believe there are other routes, including a school leaver programme or apprenticeship.

“In these challenging times a professional qualification, undertaken either as part of a prestigious undergraduate programme or within a firm and especially as part of an apprenticeship, can ensure a student gains a competitive edge in the jobs market,” said Ruth Martin, CISI managing director.

CISI members were responding to the question, “The typical cost for a student to attend university is now £17,000 ($28,500) a year, including accommodation, tuition and living costs. With this in mind, what do you believe to be the best way to enter a career in financial services?”