“The increase in hiring that usually takes place in the post-bonus period hasn’t materialized. Instead, the continued uncertainty in the marketplace has driven financial services to adopt a very cautious approach to hiring,” comments James Bennett
London (PRWEB UK) 20 July 2012
Slowing job opportunities in the UK continued in the second quarter, ending 31 June 2012. Financial sector job availability slowed in the UK by 19% year-on-year with average monthly job postings decreasing from 3,522 in Q2 2011 to 2,836 in Q2 2012.
The UK also saw a 3% quarter-on-quarter decrease from Q1 2012 to Q2 2012. Across the world’s top financial markets, only the US enjoyed a significant increase of 13% over the period, while APAC and Continental Europe and the Middle East recorded modest growth of 2% and 1% respectively.
In June, the number of job postings on eFinancialCareers.co.uk in insurance (+6%), consultancy (+5%) and private equity & venture capital (+2%) were the only three sectors recording growth year on year. Equities and FX & money markets were the worst performing sectors, with a drop in job postings of 49% over the period, narrowly followed by derivatives (-48%).
“The increase in hiring that usually takes place in the post-bonus period hasn’t materialized this year. Instead, the continued uncertainty in the marketplace has driven financial services to adopt a very cautious approach to hiring,” comments James Bennett, Global Managing Director at eFinancialCareers.
Unsurprisingly, the current environment has impacted the confidence of finance professionals. A poll* carried on efinancialCareers site reveals that seven out of 10 respondents described the current hiring climate “cold” or “freezing”. When asked whether they will be able to find a new job that is equal to or better than your current or most recent position in the second half of 2012, the respondents were split 50-50.
The eFinancialCareers Quarterly Barometer tracks UK positions advertised on eFinancialCareers in sectors where there is a minimum level of 300 advertised jobs a month for the quarter. Sectors qualifying for the UK Barometer for the three months ended 30 June 2012 were Private Equity / Venture Capital, Investment Banking / M & A, Sales & Marketing, Corporate Banking, Credit, Consultancy, Research, Insurance, Trading, Debt / Fixed Income, Hedge Funds, Accounting & Finance, Commodities, Derivatives, Information Technology, Equities, FX & Money Markets, Asset Management, Capital Markets, Quantitative Analytics, Compliance / Legal, Risk Management, Private Banking / Wealth Management, Operations.
- results as of Friday, 7th July 2012.
eFinancialCareers, a Dice Holdings, Inc. service, is the leading global career site network for professionals working in the investment banking, asset management and securities industries. The website provides financial services professionals with job opportunities, job market news and analysis, salary surveys and career advice. Recruiters and employers can post jobs targeting specific sectors within the financial services industry, both buy-side and sell-side, and can search the resume database for highly qualified and specialized professionals. eFinancialCareers has a network of co-branded career sites with industry-leading trade publications and offers local websites in 19 markets and five languages primarily across North America, Europe, the Middle East and Asia-Pacific. Please visit http://www.eFinancialCareers.co.uk for more information.
For media enquiries or to arrange an interview with James Bennett, Global Managing Director of eFinancialCareers, please contact:
T: +44 (0) 20 79977910
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