Job vacancies in London’s financial-services industry increased by 17% in July 2015. Job openings in the capital’s financial districts, the City and Canary Wharf, climbed to 10,920 last month from 9,315 a year earlier. Starting salaries grew by 22% on average, which is the utmost pay rise in the finance sector in the recent 12 months.
“Some employees are also taking advantage of the quieter months to renegotiate their compensation packages,” Hakan Enver, operations director at Morgan McKinley Financial Services, made a comment. “We’ve seen some staff ask for a raise accompanied with the threat of changing employers.”
At present, finance companies are recruiting more employees to observe the compliance with tougher regulations imposed on the UK banks. At the same time, banks are cutting jobs to reshape their investment and trading divisions.
According to the Office for National Statistics, total pay in the United Kingdom, which includes bonuses, rose 2.4% in Q2 in annual terms.
