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Finance sector continuing to hire, report finds

Friday 15th June, 2012
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Umbrella
Umbrella company contractors may be among those to benefit after a new report said that the finance sector is continuing to recruit more workers.

Morgan McKinley found that the London financial services sector saw a 17 per cent month-on-month increase in the number of roles coming on the market in May, compared to April.

Furthermore, the number of professionals entering the jobs market in May this year grew by 18 per cent on the same time in 2011.

Jobseeker numbers were 58 per cent lower than in May 2011, while the average salary last month was £54,594.

Andrew Evans, chief operations officer at Morgan McKinley Financial Services, explained that people in financial services are remaining confident in their "own careers and the longer term outlook".

He explained: "When asked about their career plans following the bonus round this year, there was an interesting and definite split: 49 per cent said they would look for new opportunities, but only six per cent would move abroad for work, while 42 per cent plan to do nothing differently," he said.[[[del]]]

"This echoes the change in expectations and also the view of a third (35 per cent) of respondents who optimistically feel that bonus payments will increase significantly once the London financial services market improves."

Around 35 per cent of respondents expect bonus payments to increase significantly once the market improves, suggesting positions will be lucrative for contractors and other workers.

It comes as a recent poll by YouGov, for the Chartered Institute of Personnel and Development, found that 65 per cent of employers have revealed plans to hire.

Furthermore, hiring intentions were even higher in finance, insurance and real estate - suggesting Morgan McKinley's report is correct.

YouGov's poll showed a plus 25 per cent balance for private sector companies looking to employ.

Posted by Ben Evans


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