New work opportunities in the finance sector for both Umbrella Company Employees seeking contracting roles and permanent jobseekers alike have been thin on the ground recently; however, the latest London Employment Monitor from the specialist recruitment consultancy Morgan McKinley suggests that this is changing for the better
The survey found that new finance positions in the City leapt from 5,816 in August to 7,082 in September, a rise of 21%. The year-on-year figure is even more impressive: there has been an 86% increase in new openings compared with September 2012.
Commenting on the findings, Morgan McKinley’s financial services operations director, Hakan Enver, said that this September marked the fifth anniversary of the collapse of Lehman Brothers, the event that resulted in the worst global recession in recent history. Now, Mr Enver continued, the financial sector is “on a noticeable road to recovery.”
The drop in vacancies seen in July and August was anticipated, he explained, and was attributable to seasonal factors; however, vacancy volumes are now vigorously on the rise.
Identifying the most in-demand skills, Mr Enver added: “There has been strong demand for advisory compliance professionals over the first nine months of the year and this trend is showing no signs of slowing down as we head towards Christmas. This demand is evident across the full sphere of product specialisms including, but not limited to, DCM, ECM, Equities Sales and Trading, Credit and Rates Trading and Structured Products. Commodities and Prime Brokerage are also spaces where we have seen movement in the last month.”
The average pay increase for successful candidates this September was 15%.