Salary rise for admin workers in booming finance jobs market
Demand for experienced financial staff at all levels in London is on the rise compared to last year, new research has found.
In June, the number of new finance jobs coming onto the market was 34 per cent higher than at the same time last year, research from Morgan McKinley has revealed.
Salaries for staff at all levels are also on the rise, with support and admin workers receiving the biggest pay rise of seven per cent between May and June of this year.
"London's reputation as one of the world's leading financial centres continues to grow and with it so do the job opportunities," said Robert Thesiger, chief executive of Morgan McKinley.
"Investment banks and smaller finance houses are still in expansion mode, whether this be within existing departments or through the development of new product areas. Inevitably, hiring volumes will continue to rise as a result."
However, while demand for financial staff has remained strong, the World Cup has contributed to a dip in candidate numbers, with the annual summer slowing of the recruitment market coming a month early.
The combined factors of hiring decision makers taking annual leave as well as jobseekers holding off until the autumn has led to a drop of 15 per cent in candidate numbers compared to May, the survey shows.