According to recruitment firm Astbury Marsden 3,470 new positions were created in the City in September, up by around 46% over the same period in 2013. Whether this signals a return to healthy long-term hiring growth in the City remains to be seen.
So, what’s driving this current surge and which segments of the financial services industry offer the most opportunities?
Robust global equity markets have enabled key decision makers returning from their summer holidays to push the button on hiring decisions that were previously in pipeline limbo. Data from Thomson Reuters indicates that the value of flotations and rights issues added up to around US$678BN in the first nine months up to September 2014, a growth of around 25% over 2013 and the highest level since 2007. M&A transactions stood at around US$2.66TR during the same period; a 60% increase over 2013.
Key areas of growth were within Regulation, Control, Compliance and Technology, driven by increasingly complex and stringent statutory legislation, regulatory compliance and systems requirements, alongside the ever-increasing reality of daily cyber-attacks at a number of bulge bracket banks. However, Astbury Marsden say that businesses are beginning to consider expansion of Equities Trading, Broking and Corporate Finance teams, due to strong M&A and IPO activity.
The 100th PwC/CBI Financial Services Survey of September 2014 suggests that despite an expected skills shortage in some key areas; financial services firms remain cautious and would keep headcounts at even levels, with concern over future growth and the prospect of a tighter monetary policy in 2015 on the horizon. In spite of optimism, the market place no doubt remains tough and competitive for job applicants.
Success in a competitive market place depends on not only having the right skill set and experience, but also on the ability to stand out, with access to the tools and support required to navigate what is becoming a more complex recruitment market. Led by award-winning financial services recruitment veteran Victoria McLean, City CV’s professional CV writers and coaches have expertise for every stage, including in-depth experience within Regulatory, Control, Compliance and financial services IT roles across all levels, from graduates to senior level banking and financial services professionals. For more information on our CV writing, interview coaching or LinkedIn profile writing services, call us on +44 20 7100 6656 or email enquiries@citycv.com.