PracticePeople In PracticePay rises in London financial services

Pay rises in London financial services

Report reveals pay up 6% while vacancies drop off

PAY FOR THOSE in London taking new financial services jobs in November rose 6% on the previous month, a survey claims.

A report from Morgan McKinley also showed that the number of posts available in London fell 5% month-on-month.

Andrew Evans, a managing director at Morgan McKinley, said: “A rise in salaries is generally a positive indicator of the jobs market holding up so, as we approach year end, it’s pleasing to see an increase both compared to the previous month and to November 2009.

“November 2010 saw an increased number of roles filled at the more senior end of the market, which has driven up the average salary.

“This coincides with the significantly decreased time taken to hire, and it may well be the case that there has been an end-of-year move in a number of financial institutions to secure talent relatively quickly to get a head start on planned strategic business activity for 2011.”

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