London Financial Vacancies May Gain in Second Half of Year, Survey Shows

About half of financial services companies in London expect job vacancies to rise in the second- half of the year, according to a survey by recruitment consultants Morgan McKinley.

About 47 percent of respondents said hiring levels would increase, while 29 percent said they would stay the same, according to today’s survey. About 48 percent said pay will stay the same as the first-half of the year and 47 percent said it will increase.

“Overall, there is still a lack of clarity as to how healthy the financial services hiring market will be over the rest of the year,” said Andrew Evans, managing director of Morgan McKinley’s financial-services unit, in the statement. “With financial institutions awaiting greater visibility on regulatory issues and the impact of the debt issue, it remains to be seen how strong job growth will be.”

Governments, forced to rescue their nations’ financial services firms, are pressuring the industry to curb banker compensation. The International Monetary Fund in April called on the Group of 20 leaders to tax banks to help pay for future bailouts. In December, the U.K. put a one-time 50 percent levy on bankers’ discretionary bonuses.

The survey showed 71 percent of the 194 respondents, drawn from personnel and hiring managers at financial services companies, said bonuses would stay the same and 17 percent expect them to rise.

Separately, Morgan McKinley said job vacancies at London’s financial services firms fell 2 percent in June to 5,645 from a month earlier. The average salary for candidates securing new roles fell 4 percent in June to 53,231 pounds ($80,895) from a month earlier.

To contact the reporter on this story: Ambereen Choudhury in London achoudhury@bloomberg.net

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