City jobs market picks up pace after a quiet Easter

The City jobs market improved again in June 2013 compared to the month before, with financial services job opportunities in London increasing to the highest level in the second quarter, according to new data from Morgan McKinley.

There was a 21 per cent increase in new jobs between May and June 2013, with a total of 7,749 new jobs on the market. Compared to June 2012, however, this represented a 22 per cent fall in new roles, combined with a 15 per cent rise in active job seekers.

And over the first six months of 2013 as a whole, there was a nine per cent decrease in new jobs compared to the same period in 2012.

Commenting, operations director at Morgan McKinley financial services Hakan Enver said:

After a quieter period over Easter, Q2 has seen a gradual rise in job availability, with three consecutive months of increasing numbers of new jobs being released. This is a positive sign, although tempered by the lower level of hiring compared to June 12.

The compliance and audit markets continue to be active as we have mentioned previously. In addition, demand is also coming from certain infrastructure functions within the asset management industry, for example within the marketing world, investment communications opportunities are back in favour as well as an increase in demand for investment writer and RFP roles. The impact of the Retail Distribution Review has led to a greater appetite from investors and intermediaries seeking information from their money managers and this is something we expect to continue.

The average salary increase for those securing a new job in June was 15 per cent – up from an eight per cent increase in the previous month and a 12 per cent rise the year before.