APPLICANTS for City jobs dropped by a fifth in the past year as bankers chose to stick with their current roles, new research today shows.
The number of qualified applicants for every new job in the City fell 20 per cent in the three months to June to 1.68, from 2.13 in the same quarter in 2010. Yet the City is still seeing a steady level of new jobs created, with about 5,400 new jobs seen in June, up from 5,040 in June 2010, headhunter Astbury Martin found.
It said finance professionals were “far more reluctant” to look for new jobs. “With a slower deal flow, it is difficult for investment banks to deliver on targets. Banks are trimming staff here and there, and in that kind of uncertainty, City workers are far less willing to move,” its chief operating officer Mark Cameron said.