For the UK Pharmaceuticals industry, the headwinds are real. The post pandemic hangover, at first caused by clinical trials being delayed on approval, so that COVID-19 related drugs could be prioritised meant that as the pandemic subsided, the pipeline of other drugs going to clinical trials had slowed to a trickle. The MHRA was supposedly tasked with creating a fast track regime to overcome this, equally even now, the EMA is approving drugs faster. Hence for pharmaceuticals companies looking at where they should organise trials, the UK is as a result, less attractive.
Now that the economic data released, shows that we are out of recession, as an update on what we are seeing, what is noteworthy as an indicator of market confidence, is that the leading role type being recruited for, now across the region, in 2024 so far, is for corporate b2b sales positions.
The surge in vacancies for banking lawyers during Q1 2024, observed both in law firms and banks, reflects significant industry dynamics. 137 vacancies were posted within law firms, marking the highest total since Q3 2022. Extrapolating from Q1, 2024 is projected to see a 35% increase compared to the previous year. Similarly, there was a 17.7% increase in legal vacancies within banks compared to Q4 2023.
High demand for risk professionals in insurance due to rising business interruption claims. London experiencing a significant surge in job opportunities.
The Government’s Spring 2024 budget has changed the shape of taxation in the UK for high net-worth individuals who are not UK-domiciled. The implications of this change are yet to be seen properly; therefore, when looking at the recruitment patterns, we are forecasting an increase in tax vacancies this year compared to last year’s 32% in London, and 46% regionally.
