Banking and Financial Services Salary Survey 2009

It seems that on any given day in the current market, we can pick up a newspaper and read about the negative effect the flagging economy is having on unemployment figures. Over the last 12 months the end of the well publicised 'War for Talent' has heralded a paradigm shift in the balance of power from candidate to client.

The government bailout of the banking system has also had a knock-on effect on recruitment dynamics over the past year. Financial institutions with a large degree of state ownership are finding it increasingly difficult to compete for talent on a financial basis, particularly when it comes to bonus payments (or lack thereof).

At the time of writing a number of US and European investment banks had just posted positive profit numbers for Q1 2009 with more rumoured to follow suit. After a 12 month period that saw tens of thousands of jobs disappear from the City of London alone, we could well be witnessing the first signs of recovery in the job market.

From a recruitment perspective, 2009 is starting to look brighter; key metrics such as increased candidate interview activity indicate confidence returning to the market. This provides a more promising outlook when combined with a general shift in our client's mind-set to one that is now forward looking rather than the fight for survival of the past year.

Please click on the link below to download our full report on the Banking and Financial Services recruitment market.

Banking and Financial Services Salary Survey 2009

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