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City job vacancies highest in a year as confidence returns to financial services

JOB vacancies in the City rose to their highest level in a year last month indicating that confidence is slowly returning to the financial services sector.<br /><br />City workers are also beginning to dip their toes in the jobs market to find out what opportunities are available, figures from recruitment firm Morgan McKinley reveal.<br /><br />The number of professionals looking for a new role was up six per cent last month compared to September although it remained down 23 per cent year on year.<br /><br />Job vacancies rose by 15 per cent in October compared to the previous month &ndash; from 3,843 to 4,410.<br /><br />Over the year, the number of new jobs fell 19 per cent, but this drop was the smallest in 16 months.<br /><br />Those lucky enough to secure a new role in October did so in an average of 56 days &ndash; the same amount of time it took a year ago.<br /><br />But average salaries have dipped slightly to &pound;51,350 compared to &pound;52,142 in September. The average salary has grown seven per cent over the year from &pound;48,021 last October.<br /><br />Andrew Evans, managing director of Morgan McKinley&rsquo;s financial services division, said: &ldquo;London&rsquo;s financial services recruitment market is in a very different place compared to 12 months ago when City hiring was in the midst of a downward trend which saw job volumes contract from month to month.&rdquo;<br /><br />Evans said progress had been &ldquo;slow and somewhat unsteady&rdquo; over the course of the year but confidence is returning &ldquo;slowly but surely&rdquo; so that more employers are hiring and employees are testing the job market.