According to a new survey by Morgan McKinley salaries in the City are soaring and thousands of jobs were created in the first half of the year.
The report revealed:
- Over the last 6 months average salaries have increased by 10% to reach £50,673.
- Senior professional salaries have increased over the last 6 months by 13% to £74,768.
- Middle market salaries have risen over the last 6 months by 6% to £46,827
- Admin/support salaries have risen over the 6 months by 7% to £30,424
- 6174 new City jobs came onto the market in June, compared to 5733 new jobs in January
- The number of outstanding vacancies in the City has increased steadily over the first half of the year to reach approximately 12,978 this month. This compares to 10,836 recorded in the previous June.
- Compared to January 2005 it is now taking candidates 28% less time to find a position.
Morgan McKinley chief executive Robert Thesiger said: 'Salaries for senior professionals-began to surge ahead post-Easter as the close of the bonus season increased activity at the top end of the market.
'A shortage of high-calibre candidates has meant that firms have had to fight hard to attract and retain the best talent, and salaries have risen fast as a result.'
Thesiger said there had been no signs the London bombings had effected the City job market. 'The general feeling among candidates and employers is that they are determined to carry on with business as normal,' he said.