City jobs and pay growth boom as more workers look to move

 
Chris Papadopoullos
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City job numbers have risen 13 per cent year-on-year, according to Morgan McKinley
The number of City jobs new to the market shot up by 13 per cent year-on-year in May, according to figures released today by recruiters Morgan McKinley.

Meanwhile, the average increase in pay for someone moving jobs was 18 per cent in May, compared with 19 per cent April.

More professionals, both in an out of work, were looking for new roles in May, with the figure rising to 9,876 from 4,911 in the same month last year.

“The yearly increase shows a strong supply of professionals, but it is somewhat deceptive,” said Hakan Enver, operations director, Morgan McKinley. “There is still a shortage of talent in certain areas, compliance and governance in general, being prime examples.”

While growth in job opportunities was strong on the year, the figure declined 20 per cent on the month and the number of professionals seeking new roles fell 14 per cent. Enver attributes the monthly drop to the election and the month’s bank holidays.

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