Partner Article

London Employment Monitor: Professional opportunities up 19%

In Q2 of 2015, the London professional services sector saw a significant boost in employment opportunities indicating a robust job market in Q2 of 2015.

According to Morgan McKinley London Employment Monitor for Q2, the number of professional opportunities is up 19%. However, there was no significant change in professionals seeking to move (down 1%)

The availability of financial services jobs has increased by 19% indicating a benign landscape for job seekers for the second quarter of 2015.

’The start of a positive trend’

Hakan Enver, operations director, Morgan McKinley Financial Services said: “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.”

The amount of professionals seeking new roles remained relatively stable month-on-month, showing an insignificant decrease of 1%.

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 the Square Mile, Enver said: “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.”

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.

Continual need for international talent

The UK Fintech sector is growing and both banks and financial services companies are looking for talent. More than any other area of the finance sector, fintech requires global hiring. According to Enver, “Immigration is becoming a theme in the UK elections and any regulatory tightening on immigration could have a negative effect on the burgeoning UK fintech sector and is a cause for concern to companies in the London.

“Whilst there is much dialogue about the lack of roles available for home grown talent, the volume of opportunities doesn’t necessarily indicate that this is the case. With these regulatory demands and ever evolving change programmes, there is a continual need to source talent from international markets, simply because demand outweighs supply.”

This was posted in Bdaily's Members' News section by Ellen Forster .