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City of London Firms Are ‘Desperate to Hire’ in Tight Job Market

  • Number of financial services job ads is up 73% on a year ago
  • Job movers are securing an average 22% pay rise, survey finds
Morning commuters cross London Bridge in the City of London on March 14. 

Morning commuters cross London Bridge in the City of London on March 14. 

Photographer: Jason Alden/Bloomberg

Bankers looking to move jobs after pocketing their bonuses have a wealth of options open to them, as a shortage of qualified candidates pushes firms to offer hefty pay increases to lure the best applicants, one study shows.

There was a 73% increase in jobs available in the first quarter compared to the same period last year, according to recruiter Morgan McKinley’s London Employment Monitor. Financiers clinched a 22% average salary uplift when moving jobs, an improvement on the 19% rises seen at the end of last year.