The number of job vacancies inLondon's banking
and financial services sector has risen 9% over the last year and
16% over the last quarter according to Ambition, the global
recruitment group.
However, Ambition's research shows that despite
the year-on-year rise in vacancies the number of job interviews
across the City over the same period has fallen to 7% annually as a
lack of candidates with the right skills has made it difficult for
businesses to recruit staff.
The reason for this shortage is twofold.
First, with banks shifting their attraction away from large
bonuses, candidates are moving towards an environment where base
salary and progression are deemed most important.
Second, many businesses are unaware of the drop
in candidate supply over the past 12 months and are still trying to
hire staff using the criteria from a market that was incredibly
skills rich as an immediate result of the recession.