Demand for City jobs outstrips supply

Demand for jobs in financial services and banking is outstripping supply, according to analysis by Indeed.com.

It says the number of job postings for financial services and banking jobs across the whole of the UK has fallen by 30% in three years. It adds that during the same period, there has been a 180% rise in jobseekers in this sector in London, with the number of people looking for banking and finance jobs far outstripping the number of available jobs in this sector across the whole of the UK.

It says clicks on jobs on Indeed.com in the financial sector in London rose from 182,432 to 510,047 between November 2011 and November 2014. Meanwhile, demand for financial services and banking jobs across the whole of the UK has risen by over 200% from November 2011 to November 2014 – with clicks on jobs in this sector on Indeed.com rising from 702,843 to 2,171,496 in this period. At the same time, the number of financial services and banking job listings on Indeed.com in this industry across the whole of the UK has fallen by 30% from 163,975 to 115,187

The most popular jobs were accountant, business analyst, financial director, trainee accountant and credit controller.

David Rudick, VP International Markets at Indeed.com, said: “Against a backdrop of investment banks stripping trading desks and some retail banks shutting branches, demand for employees in the financial services and banking industry appears to be falling. Yet six years on from the financial crash and the reputation of the banking sector seems to have bounced back, with job seekers in this sector on the rise.”

Another report by Morgan McKinley shows a 4% increase in City job vacancies, although the number of professionals seeking to move has dropped by 7%. The report says those securing new positions increased salaries by an average 18%

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