Thursday 10 March 2016 12:01 am

London financial services jobs: Asset management roles the shining star of the industry, and workers pulling in hefty payrises for changing jobs

Those finding themselves a little too excited for the weekend might be interested to know that switching jobs can bump up their salary by almost a quarter, and it's a jobseekers' market for anybody who fancies a role in asset management, according to research released today.

Professional services recruiter Morgan McKinley has found that firms are on the hunt for top talent in asset management, particularly active portfolio managers and analysts, following last year's flurry of M&A activity.

"For job seekers in 2016, asset management is the industry to be in," said Marcus Williams, manager at Morgan McKinley Investment Management Finance and Front Office. "Professionals with multi-lingual skills and relevant industry experience are in a strong position to secure attractive packages."

The number of financial services jobs on offer in London has grown by eight per cent in the year to February 2016.

Hakan Enver, operations director at Morgan McKinley Financial Services, added: "The growth in jobs was driven by the asset management industry. There is growth and demand in that sector and the UK is in prime position to take advantage of this trend, which we believe will be a theme throughout 2016."

Meanwhile, those who switched jobs last month found themselves benefiting from a boost to salary of 24 per cent on average.

As Morgan McKinley's research suggests that pay levels at companies for existing staff are like to stay relatively stable throughout 2016, Enver added: "Clearly it is beneficial for those looking for improved compensation packages to consider moving to another house."

Thanks to regulatory restrictions, firms are also shifting their staff's pay packets away from bonuses and towards increases in fixed salaries.

"Banks are contesting the regulatory changes to bonuses," said Enver. "They will remain a part of pay in the financial industry, but for now, the trend is clearly towards fixed pay."

However, the financial services sector could find itself distracted by politics come the summer, with the EU referendum due to take place on 23 June. 

Enver remarked: "Referendums are rare events and they are very emotional affairs for voters, as this one is tight and both sides feel it is winnable we’re likely to see a heating up of rhetoric on both sides as we approach the date."