PAYE umbrella contractors with experience in financial services may find new doors opening for them as the UK’s financial sector proceeds with a recruitment drive.

Global recruiter Morgan McKinley has published a new survey that suggests that the London-based financial services sector is on the lookout for new talent. There was a rise of 17% cent in the number of vacant positions on offer during May compared with April’s total. Openings for professionals in the sector during May 2012 were 18% higher than figures recorded for the same month last year, even though the number of people hunting for jobs was 58% lower than May 2011.

Highly skilled contractors working through umbrella companies or limited companies, many of who suffered a bruising experience in the sector recently during its severe cost retrenchment phase, may now find themselves being welcomed back with open arms.

Andrew Evans, Morgan McKinley’s chief operations officer, said that workers in the sector are showing appreciably increased confidence about their long-term career prospects. Almost half (49%) of those polled were optimistic about finding new work opportunities, while 42% said that they were content to remain in their current roles. Just 6% believed that their only realistic option for finding new opportunities was to seek them abroad. One in three respondents were optimistic that as the financial services market improves, so bonus payments will rise – and generously.

Should these indicators of renewed confidence become materialised in a re-invigorated financial sector, permanent and contractor roles alike are not only likely to be on the rise but also handsomely remunerated.

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