‘Few signs of permanent thaw’ in City jobs market, says Astbury Marsden
There were roughly 3,180 new City jobs in March 2012, an 11% drop from the 3,585 the previous month, according to City recruiter Astbury Marsden.
Last year there were 5,900 vacancies, with the firm’s chief operating officer Mark Cameron, saying: “The flow of new vacancies coming onto the market remains sluggish… Those who were hoping that an easing of the Eurozone crisis would lead to a sudden, sustained and obvious recovery in the City jobs market have been wrong footed.”
He also comments that while low bonus levels of late would in a previous market have triggered more bankers into looking for new jobs, investment bankers are now “biding their time” in the current climate.
Astbury Marsden estimates there are now more than 2.3 qualified candidates for every available City job, compared with 1.7 in March 2011.
For more on recruitment and jobs in the banking and financial services sector in London and beyond, see the sector focus in the new edition of Recruiter, out next Friday, 13 April.