London Finance Job Postings Set Fresh Record in Third Quarter
The easing of lockdown in the U.K. is turbocharging the market for London finance jobs, with postings in the third quarter more than double last year’s level.
There were 8,343 new listings for financial services positions between July and September, according to recruitment consultancy Morgan McKinley and data provider Vacancysoft. That compares to 3,575 in the same quarter last year.
In September alone, 2,818 new jobs were posted, marking the busiest month since at least January 2014.
The number reflects the brake on hiring during lockdowns imposed to slow the spread of Covid-19. It’s a similar story across the U.K. finance sector, where the number of new banking jobs breached 5,000 in June.
“This has been caused by the easing of government lockdown measures, and in turn with banks initially having made cuts to their staff, they now need people to join their teams again,” said Ben Harris, head of governance at Morgan McKinley. “The recruitment market has turned to become a candidate-led market with candidates having multiple different options on the go, which requires institutions to move quickly when hiring.”
There’s particular demand for jobs in risk and compliance, with hiring for these roles making up about 13% of all banking vacancies, the data show.