Job prospects in London’s financial district are improving. According to Morgan McKinley, a recruitment firm, the number of new positions in November rose 15% from the previous year, the first annual increase in two years.
Nonetheless, the number of finance professionals seeking new jobs continues to outstrip the opportunities available to them. Both vacancies and candidates are expected rise further next year, the recruiter notes, as workers stick around to collect bonus cheques before taking advantage of improving industry conditions to seek new roles.
Shortly after Morgan McKinley published its report, the British government announced a 50% windfall tax on bankers’ bonuses. This could make employers think twice about the size of year-end payouts and, as a result, workers may choose to move sooner rather than later, possibly to a different industry.