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UK – Strong monthly increase in professional job opportunities signals robust Q2

21 April 2015

The availability of financial services jobs in London increased by 19% in March 2015 compared with February. Indicating a benign landscape for jobseekers in the second quarter of 2015, according to the London Employment Monitor from Morgan McKinley.

On an annual basis, however, there were a decrease of 1.4% in the number of jobs advertised.

Hakan Enver, Operations Director for Morgan McKinley Financial Services, commented: “With the double-digit increase in job openings month-on-month, we expect this to be the start of a positive trend that will continue through to April and May.”

“This should make the second quarter of 2015 a particularly good environment for those seeking new opportunities, mostly as the rate of growth in job availability is currently outpacing those pursuing new employment,” he added.

The number of professionals seeking new roles remained relatively stable, month-on-month, showing an insignificant decrease of 1%. Compared with last year, the number of jobseekers was down nearly 4%.

Mr Enver continued: “The flat number in professionals seeking new jobs is seasonal and partly because of bonuses being paid out in March, so we expect that figure to increase in April as employees start looking for new positions. Despite contrary belief that the market is slowing down pre-elections, general job availability is actually very good and people are much more confident in searching for new employment prospects.”

The increase in regulatory scrutiny and demands on compliance are having an effect on the hiring in London’s financial district.

“We continue to see strong demand for those with change management and corporate governance skills. Professionals with the relevant experience and qualifications are in a position to demand a salary premium” Mr Enver stated. 

As the regulatory and legislative reform continues to gather pace it is likely that a demand for these types of roles will continue for the remainder of 2015 and possibly even further.

“According to March’s data, those securing new positions were able to earn, on average 18% more on their base salary by moving from one organisation to another. The average has now hovered around this mark for a number of months, with a peak of 21% shown in January 2015. Conditions remain favourable for those looking to negotiate an improved compensation package, particularly those who engage with a recruiter to act on their behalf,” Mr Enver concluded.