City jobs and contracts bounced back vigorously in September following the seasonal August dip, new data from specialist recruiter Astbury Marsden reveals.
3,470 new City jobs and contracts were created last month, representing an impressive 34% increase on the 2,580 new positions created in August. This year’s September recruitment surge was especially strong – 46% above the 2,380 jobs and contracts created at the same time last year.
The driving factors appear to be growing in strength in the global equity market and increased demand for compliance and regulatory expertise. Umbrella Company employees offering skills and experience in the so-called ‘back office’ areas of risk control and regulatory compliance, along with techies specialising in cybersecurity, were in especially high demand in September, as were permanent candidates with the same skills.
According to Adam Jackson, director at Astbury Marsden, hiring decisions that were put off previously have now been pushed through, as decision makers return to work from the summer break. In addition to back office roles, he said, City employers appear to have decided that the time is right to drive growth by increasing headcounts in their revenue-earning teams.
The IPO and M&A markets were definitely heating up, Mr Jackson noted, driving hiring in corporate finance, equities trading and broking departments. He added: “The cybersecurity jobs market has grown rapidly in recent months and the banks are actively recruiting information security specialists to shore up their technology teams. Firms are now realising just how damaging a cybersecurity attack can be on what is a core asset and competitive differentiator – their data.”