Financial jobs market healthy, says expert

City workers looking to switch jobs are to be rewarded handsomely, according to new figures, which show a rise of five per cent in average salaries.

City workers looking to switch jobs are to be rewarded handsomely, according to new figures, which show a rise of five per cent in average salaries.

Despite an economic downturn there are still many City workers looking to move jobs in the near future, and the current skills shortage is working in their favour.

And moving jobs needs to be planned with some precision, according to Phillip Marks, managing director of Huntress Finance, who spoke to GAAPweb: "The crunch has affected the focus of the recruitment market, not the volume of business so far.

"First tier Investment Banks are recruiting less in their largest recruitment areas (operations and front office) but there has been an increase in mid tier banks upgrading staff, private banking and advisory work," he added.

So liquidation and insolvency vacancies, for instance, are in high demand, while other areas are not so lucrative in the face of the tightening credit crunch.

A survey by the website found that 70 per cent of respondents intended to jump ship, suggesting there are plenty of vacancies still left for qualified workers looking in the right places.