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- Jo Faragher
There was a slight fall in employment opportunities in London during July, according to Morgan McKinley’s London Employment Monitor.
Compared to the same time last year, there was a 37% drop in new roles coming onto the market, although the number of professionals actively seeking new jobs increased by 63% over the same period. In addition, there was an average 17% rise in salaries for those securing new positions in July
Hakan Enver, operations director of Morgan McKinley Financial Services, said that the drop in vacancies could well be seasonal. “While it is disappointing to see a drop in hiring levels after the gradual rises recorded in May and June, the seasonal effect of the holiday period cannot be underestimated,” he said. It is likely to recover in September.
Finance professionals in demand included trading accountants and management accountants, and there were further openings in product control and regulatory reporting – suggesting increased trading activity on top of demand for professionals with regulatory experience.
On the regulation side, companies were also looking for experienced project change specialists around Basel III, Dodd Frank and EMIR. This is a trend likely to continue for at least the next 18 months, the report added.
Enver added: “While cost control is still a major concern, these average salary increases show that organisations are realising that in order to attract top talent, they have to be competitive with their remuneration structures.”
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