Banking and finance vacancies in the City are up by more than third in the three months to 30 April 2011 compared to the same period last year - but growth is slower in certain areas, according to the latest eFinancialCareers UK Quarterly Barometer.
Compared to the same period last year, the most dramatic rises in terms of new positions posted have been in Equities - up by almost 150% – Capital Markets and Research, opportunities in those two other sectors having more than doubled in the year.
However, since the previous quarter (1 November 2010-31 January 2011), the rise in new vacancies has been more modest, standing at just 10%, as compared to 30% in the previous quarter’s Jobs Barometer.
Areas recording the fastest growth according to the eFinancialCareers data were Trading, Derivatives, Commodities, Private Equity/Venture Capital and Equities – all up by over 40% over the preceding quarter.
Professional services which include Consultancy and Accounting & Finance were however amongst the slowest advancers with quarterly growth rates of 9%.
Opportunities within Private Banking/Wealth Management also lagged compared to the previous quarter, with a rise of only 9%.
James Bennett, Managing Director EMEA and APAC for eFinancialCareers said:
In spite of the poor set of first quarter figures reported by UK banks, employment numbers are up in the City – albeit more slowly than this time last year. Recruitment activity has been particularly brisk in certain hot-spots – such as trading - post the bonus season. It’s likewise encouraging to see some growth in the professional services sector, suggesting the City’s recovery is now beginning to touch the wider employment market.”
The eFinancialCareers Quarterly Barometer tracks UK positions advertised on eFinancialCareers in sectors where there is a minimum level of 300 advertised jobs a month for the quarter. Sectors qualifying for the UK Barometer for the three months ended 31 April 2011 were Capital Markets, Asset Management, Consultancy, FX & Money Markets, Investment Banking / M&A, Trading, Research, Compliance/Legal, Quantitative Analytics, Derivatives, Debt / Fixed Income, Accounting & Finance, Sales & Marketing, Operations, Information Technology, Private Banking / Wealth Management, Risk Management, Equities, Commodities, Hedge Funds, Credit, Corporate Banking, Private Equity / Venture Capital.