City Bulls on the Move as bonus season comes to a close

- Over three quarters of finance professionals are actively looking for a new job

- Only 11% saw significant increase in bonuses

Research from eFinancialCareers.com ñ the leading online city recruitment firm ñ shows the recent ìrecordî bonuses across the City were only the preserve of the few, not the many.

According to their findings, 52.5% saw no increase and 9.1% only a 0-5% increase. Just 11.4% received a bonus increase of 35% or more.

Ian Brown, editor-in-chief of eFinancialCareers.com, commented:

ìBonuses are tremendously important to individuals ñ and whilst huge sums make for huge headlines in the media ñ big bonuses are targeted at top revenue generators. It is perhaps no surprise that such significant numbers of City workers are now actively looking to switch firms. Juniors and mid-level workers ñ analysts, associates and VPs ñ in M&A, leveraged finance and derivatives had a much better remunerated year, however, than last, and banks are still eager to hire.î

According to the eFinancialCareers.com survey, a massive 76.3% of finance professionals are actively seeking to move jobs at present. The reasons cited for moving are:

- wanting to move up in pay and position (66.4%);
- unhappiness with current employer (19%);
- unhappiness with bonus (14.6%)

Those sectors in greatest demand are:
- investment banking: 10.5%
- asset management: 9.6%
- information technology: 6.6%
- private equity / venture capital: 5.5%

Ian Brown added:
ìThis should prove a mini-bonanza for head-hunters and recruitment firms, as they fight it out for their cut of the most lucrative time of year.î

The eFinancialCareers.com poll was conducted via the internet over a four week period from February 1st 2006 to 1st March 2006.

Of the 462 respondents to the poll:
- 41.4% were mid-level professionals
- 31.8% junior-level professionals
- 27.1% senior-level professionals

With:
- 65.5% in front office
- 34.5% in back office.