After a period of job stability, a hotter than average summer beckoned Londoners from their offices. As a result, jobs available decreased by 16%, month-on-month, and by 41%, year-on-year. However, the summer holiday season was not enough to suppress enthusiasm among job seekers, who increased by 21%, month-on-month. “By all accounts, City professionals have mastered the art of the staycation: apply for jobs in the morning, then hit the lido—or the pub—in the afternoon”, said Hakan Enver, Managing Director, Morgan McKinley Financial Services.
July is the second consecutive month of robust activity among professionals. The enthusiasm is fueled by the fact that financial services is among the few industries where professionals are seeing significant income gains. In all, average salaries rose by 17%, month-on-month.
“The conditions for maximising earnings are ideal right now. If you’re highly qualified and work in financial services, this is the time to make the leap to a new job”, said Enver.
Despite the jobs data, confidence in the City’s financial services industry is also high amongst employers. “Employers want ever more targeted lists of quality candidates to recruit from”, said Enver in regards to the shifting recruitment climate. “We’re being bombarded with calls from clients looking to carry on hiring within middle and back office functions within the City”.
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