London Bankers Holding All the Cards

The old law of supply and demand is playing out to the great advantage of investment bankers in the U.K. The number of open positions in the financial industry is up 20 percent over last year, resulting in average pay packages hitting their highest point in six months. Robert Thesiger, CEO of recruiter Morgan McKinley, put it this way: “We are moving into the next phase of the recruitment cycle with candidates still holding most of the aces and employers having to continue to develop ever more sophisticated hiring and retention strategies to win the battle.” At least the high turnover post-bonus period has meant that vacancies are taking only eight weeks or so to fill as opposed to 12 weeks before the payouts.
Shortage of London Bankers Pushes Salaries Higher [Daily Telegraph]

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