Record demand for financial services staff

Robert Half Financial Services Group, has today launched its inaugural Financial Services Employment Index, a retrospective analysis of the financial employment market that examines the level and make-up of candidates that have taken up new employment in financial services over the last year.

The Financial Services Employment Index reveals that the Robert Half Financial Service Group has witnessed significant growth in the demand for candidates in the first half of 2006. The latest statistics show a 182 per cent increase in the number of candidates placed in the first six months of this year, compared with the number placed in the last six months of 2005.

Neil Owen, Branch Manager of Robert Half Financial Services Group said:

ìWe have noticed a significant increase in the demand for candidates across all areas of accounting and finance. The data provided by the Financial Services Employment Index is extremely encouraging and reflects a rising optimism within the financial sector.î

Much of the demand over the past three months has been focused around the need for qualified candidates. Specifically, there was a nine per cent increase in the number of accountants placed in the last three months as there were in the first three months of this year. While other jobs such as management and financial accountants remained steady the demand for accounts assistants has dropped from 25 per cent to just four per cent.

Neil Owen adds:

ìThese statistics are a clear indication that the desire for qualified candidates continues to intensify. Whilst weíve seen an incremental increase in the demand for financial services professionals quarter on quarter, the most significant increase has been for the higher level positions. This is reflected by data which shows a noticeable increase in the number of people placed with a salary of 41,000 or more.î

The financial services sector continues to dominate candidate placement with 67 per cent of all hires over the last three months occurring in that area, up 20 per cent from the previous three months. Roles in insurance have experienced a slight decline in recent months while consultancy roles increasing by two per cent from the first three months of 2006.

Other key findings over the last three months:
- 60 per cent of placements were male
- 63 per cent of candidates placed were aged between 25 and 35
- Only 15 per cent of candidates placed were under 25 years old which is down seven per cent from the previous three months.
- The number of candidates placed in the 51,000 - 60,000 salary bracket rose by seven per cent from the previous three months