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Victoria Walmsley Operations DirectorFinancial Services Temporary, Contract Interim and Change Management
TAG | finance jobs
Nov/118
October London Employment Monitor
Comments | Posted by admin in Careers, Financial Services, Morgan McKinley
Our latest monthly London Employment Monitor – October 11 is now available with video commentary. Click below to watch COO Andrew Evans talk though October’s highlights.
Highlights:
• The Morgan McKinley London Employment Monitor registered a 0.4% increase in available jobs across London’s financial services sector in October 11 compared to September 11
• This represented a decrease of 22% from the same month last year
• The number of professionals entering the London financial services jobs market rose by 9% month-on-month in October 11
• Compared to October 10, this was an increase of 4% on the number of professionals looking for new roles
• The average salary for those taking up new positions in October 11 fell by 5% from September 11 to £52,601
• The time taken to fill new job roles decreased by 10 days to reach 53 days.
Click here to view the London Employment Monitor – Oct 11
Our latest monthly London Employment Monitor – October 11 is now available with video commentary. Click below to watch COO Andrew Evans talk though October’s highlights.VIDEO TO APPEAR HEREHighlights:• The Morgan McKinley London Employment Monitor registered a 0.4% increase in available jobs across London’s financial services sector in October 11 compared to September 11• This represented a decrease of 22% from the same month last year• The number of professionals entering the London financial services jobs market rose by 9% month-on-month in October 11• Compared to October 10, this was an increase of 4% on the number of professionals looking for new roles• The average salary for those taking up new positions in October 11 fell by 5% from September 11 to £52,601• The time taken to fill new job roles decreased by 10 days to reach 53 days.“Axe Wednesday” as it is now known, has caused further divide between the Labour Party and the coalition government led by David Cameron and Nick Clegg.490,000 public sector workers will lose their jobs over the next four years, whilst the retirement age is now set to increase to 66.Business leaders across the South-West of England and the UK are said to have reacted with caution to the Government trying to control spending in order to get interest rates to an all time low.It has been said that if the economy continues to grow, then it should absorb these losses. No one knows the timescales and this will therefore mean continued uncertainty, particularly for people in the South-West of the country who continue to battle with job uncertainty.One of the sectors that will be clearly impacted is the Ministry of Defence, which could absorb up to 32,000 job losses. Bristol and the South-West are major centres for the MoD, with multiple sites based in the region.As critical as the position now stands in terms of further pending cuts to the public sector, the ultimate question is will the private sector be able to bridge the gap for these losses?“Axe Wednesday” as it is now known, has caused further divide between the Labour Party and the coalition government led by David Cameron and Nick Clegg.
490,000 public sector workers will lose their jobs over the next four years, whilst the retirement age is now set to increase to 66.
Business leaders across the South-West of England and the UK are said to have reacted with caution to the Government trying to control spending in order to get interest rates to an all time low.
It has been said that if the economy continues to grow, then it should absorb these losses. No one knows the timescales and this will therefore mean continued uncertainty, particularly for people in the South-West of the country who continue to battle with job uncertainty.
One of the sectors that will be clearly impacted is the Ministry of Defence, which could absorb up to 32,000 job losses. Bristol and the South-West are major centres for the MoD, with multiple sites based in the region.
As critical as the position now stands in terms of further pending cuts to the public sector, the ultimate question is will the private sector be able to bridge the gap for these losses?
Aug/1018
Start of Q3 sees growth in financial services hiring
Comments | Posted by admin in Financial Services
uly 10 has seen a healthy 7% increase in financial services job opportunities compared to the previous month. This is the second highest level of hiring activity, not only this year, but since August 08, illustrating that the jobs market for professionals in financial services continues to follow a steady pace of recovery. Over the last few months, our Employment Monitor has said that hiring will continue to be maintained in H2, although not necessarily at the same rate as the first half of the year. Q1 10 was particularly strong as the market received a boost following signs of economic recovery. The increase in recruitment levels at the start of July is a good indication that institutions will continue to recruit, although we are expecting fluctuations in hiring levels over the remainder of the year.“This outlook must be balanced with caution as recent events such as global sovereign debt; reduction in UK consumer confidence; austerity measures and more recently speculation of a double dip recession in the US, have all led to an increased lack of visibility. We are yet to see how these issues will affect the recruitment market in H2 10.“We’ve seen fewer professionals looking for jobs in July 10 with a 16% decrease compared to the previous month. This shows a correction from a particularly high level in recent months as individuals responded to increasing demand from banks and other institutions across the City in the first half of the year. It also reflects the start of the summer holiday season with individuals waiting until the summer period is over before considering a job move.”Average salary levels for roles secured in the last few months have shown little variation, with fluctuations likely to be due to differences in the volume of hiring from the junior end of the jobs market to the senior end, month-on-month. Although some pockets of the financial services market have seen remuneration rise in line with increased demand, institutions have generally kept salaries fairly steady this year. Our March 10 Bonus Survey highlighted this when only 4.9% of respondents said their base salary had been increased to compensate for a reduction in bonuses and just over a third (37%) were earning higher salaries than the previous year compared to the majority (60%) who said their salary remained similar to the same time last year.”This morning I was interviewed by Bloomberg TV discussing the findings of our latest London Employment Monitor. The Employment Monitor measures job opportunities, new candidate availability and salaries each month across the financial services sector in London. July 10 saw a 7% increase in new job opportunities, compared to June 10. This is the second highest level of hiring activity, not only this year, but since August 08, illustrating that the jobs market for professionals in financial services continues to follow a steady pace of recovery.Over the last few months, our Employment Monitor has said that hiring will continue to be maintained in H2, although not necessarily at the same rate as the first half of the year. Q1 10 was particularly strong as the market received a boost following signs of economic recovery. The increase in recruitment levels at the start of July is a good indication that institutions will continue to recruit, although we are expecting fluctuations in hiring levels over the remainder of the year.This outlook must be balanced with caution as recent events such as global sovereign debt; reduction in UK consumer confidence; austerity measures and more recently speculation of a double dip recession in the US, have all led to an increased lack of visibility. We are yet to see how these issues will affect the recruitment market in H2 10. We’ve seen fewer professionals looking for jobs in July 10 with a 16% decrease compared to the previous month.This shows a correction from a particularly high level in recent months as individuals responded to increasing demand from banks and other institutions across the City in the first half of the year. It also reflects the start of the summer holiday season with individuals waiting until the summer period is over before considering a job move.Average salary levels for roles secured in the last few months have shown little variation, with fluctuations likely to be due to differences in the volume of hiring from the junior end of the jobs market to the senior end, month-on-month. Although some pockets of the financial services market have seen remuneration rise in line with increased demand, institutions have generally kept salaries fairly steady this year.Our March 10 Bonus Survey highlighted this when only 4.9% of respondents said their base salary had been increased to compensate for a reduction in bonuses and just over a third (37%) were earning higher salaries than the previous year compared to the majority (60%) who said their salary remained similar to the same time last year.
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