The number of City staff applying for new jobs has risen 47% in one year, according to financial services recruitment firm Astbury Marsden.

The firm says they received more than 7,400 applications from City staff looking to switch employers in February, compared to 5,020 in February 2010.

Mark Cameron, chief operating officer at Astbury Marsden, says: “With the vast majority of banking staff now aware of their bonus payment, this typically kicks off the annual City hiring season as investment bankers consider their salary expectations and career opportunities.

“While some City workers — many of whom will be the rainmakers and star traders — will be enjoying very lucrative bonuses this year, the mood regarding bonuses for most City staff is far from content.”