London financial jobs bounce 11% in January

Canary-WharfThe number of jobs available in London's financial services is 15% lower than at the same time last year but has been picking up since August.

February 2013 saw 2,583 jobs available compared to 3,066 in February 2012.

The February 2013 total is the highest level since August when there were 2,709 jobs available and it also represents an 11% increase on the January 2013 figure, according the London Employment Monitor published by Morgan McKinley.

However, the number of professionals entering the hiring market in February this year also rose by 4% over January, but it is down 13% compared to February 2012.

Hakan Enver, operations director at Morgan McKinley says: “It’s a promising start to the year to see job availability rise again and this more modest increase of 11% month-on-month is a more realistic picture of the current market.  It indicates there is still an appetite to hire with continued momentum following the increased number of available jobs in January 13.”

Enver says hiring demand continues to be in functions that require regulatory expertise.  Also operations professionals are in demand, particularly within the investment banking and asset management sectors where there has been a considerable rise in requirements for negotiators and drafters for derivatives agreements. 

Enver adds: “While this point in the year may encourage movement from some who will not receive a bonus, the other side of the coin is that those awaiting their bonuses will have little interest in moving before they are paid, hence the rise in professionals looking for new opportunities being relatively small.”

Salaries also continue to show upward trend.

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