The City of London is set to see strong job growth this year, as activity within investment banking and financial services is expected to remain buoyant in 2006, a recruitment survey by Morgan McKinley showed today.
Highlights
- Positive outlook for City hiring over the coming year with both candidate and job growth expected
- First two weeks of January 2006 have already seen job numbers increase by 52% and candidate numbers up 43% on January 2005 levels
- Average City salaries for December 2005 up 3% on December 2004 levels to £46,375
- City vacancies increased by 5.5% with 3,654 jobs coming on to the market in December 2005, compared to December 2004.
- Sector specific hiring projections for 2006 including asset management, banking and accountancy, corporate finance, operations and support.
Indicators point towards the City of London enjoying a healthy continuation of 2005 job growth levels this year, as market activity within the investment banking and financial services industry looks set to remain persistently buoyant.
Robert Thesiger, Chief Executive of Morgan McKinley comments:
“Overall, 2005 saw solid performances from a number of investment banks and financial institutions as well as a notable rise in M&A activity. In turn, job growth remained strong throughout the year, while the market became increasingly candidate driven.
“Over the first two weeks of 2006, we have already seen a significant increase in the number of City workers looking for new career opportunities as well as new jobs coming on to the market. With all indicators pointing towards an extremely busy first half of the year, we remain realistically optimistic about the 2006 investment banking and financial recruitment marketplace and expect a continuation of the growth levels we have witnessed over the course of 2005.”