New salaries in London's financial services up 15 percent - data

LONDON Mon Oct 14, 2013 12:15am BST

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LONDON (Reuters) - Workers who found new jobs in London's financial services sector in September secured an average 15 percent salary rise, data from recruiter Morgan McKinley showed on Monday.

"With existing organisations exerting pressure to keep staff who have already resigned, this is further driving the average salary increases, which for the last few months has been hovering around the 15-20 percent mark," said Hakan Enver, Operations Director at Morgan McKinley Financial Services.

The number of job vacancies in the UK capital's financial services industry stood at 7,371 in September, up 8 percent from 6,804 in August, according to the Morgan McKinley London Employment Monitor.

Enver said the result reflected a renewed energy in the sector and echoed the findings of a recent Confederation of British Industry (CBI) and PwC survey, which showed that UK financial firms are at their most optimistic for almost 17 years.

However, the figure remained far well below the September 2012 level, when vacancies reached 9,072.

The monitor also showed an 86 percent increase in the number of people actively job seeking, reflecting improving economic conditions outlined in the British Chambers of Commerce's Quarterly Economic Survey.

"This increasing appetite for exploring new career opportunities suggests that confidence levels are continuing to improve," Enver said.

(To read the CBI/PwC Financial Services survey, please click: here)

(To read the British Chambers of Commerce's Quarterly Economic Survey, please click: here)

(Reporting by Clare Hutchison; editing by David Evans)

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