City salary watch caption

Friday 14th November 2014

City salary watch

All eyes are on the HRville Bowlometer – which this month reveals City movers are getting 20% increases

As the patented HRville Bowlometer (below) testifies, city salaries are looking good again this month, with financial suity types swapping jobs landing an average increase of 18%.

And according to Morgan McKinley’s October 2014 London Employment Monitor, there’s also been a 2% increase in job availability with 7,410 roles, compared to 7,245 in October 2013.

Hakan Enver, the Operations Director of Morgan McKinley Financial Services, said, ’Britain’s Financial Services sector is growing at the fastest rate since before the financial crisis… According to a survey of 200,000 people worldwide by Boston Consulting Group, London is officially the most desirable city in the world to work. With the economy outperforming other European member states, this has led to London reaching a new peak in job opportunities.’

‘October is typically a time when many professionals question their intention to move to another organisation, particularly if they run the risk of walking away from a full year’s bonus,’ Enver adds. ‘Despite the timing, many businesses will be prepared to offer some form of full year prorated guarantee to entice new talent on board.’

Compliance professionals in particular are demanding higher salaries, due to high demand.

The average salary increase for those securing new jobs in October 2014 was 18%, compared to 19% in September 2014. Average salaries for Compliance professionals have increased by 20 to 30%.

Enver says that two major reasons for this increased demand are ‘the response to heavy fines implemented by regulatory bodies for internal compliance failings, and hiring as a preventative measure against any future penalties.’

About the author

Andrew Baird

Andrew is the CEO of HRville. He is also Employer Brand Director of Blackbridge Communications, Editorial Director of Professionals in Law and an associate of The Smarty Train. Previously, he was the MD of TCS Advertising.