City hiring back to pre-downturn levels

CITY hiring is back to pre-downturn levels, resulting in a jobseekers’ market, according to a new study by Hays, the financial recruitment firm. Basic salaries have jumped due to the regulatory crackdown on bonuses, with fast-growing demand for candidates in financial IT, compliance and risk management.

The report says: “The candidate-driven recruitment market is now firmly back in full swing with almost all strong candidates having multiple offers and being counter-offered.”

In investment banking, research analysts boast one of the highest starting salaries: candidates with zero to three years’ experience can now expect to receive £30,000-£45,000 plus bonuses of 15-30 per cent.

Tim Ledger, deputy at City recruiting firm Marks Sattin says talented accountants of five years’ experience are particularly in demand: “The market is very much candidate-driven with salaries rising accordingly and counter-offers of up to 25-30 per cent of base salary not unheard-of.