The number of new City jobs rose by 2.5% in September on August, according to data from Astbury Marsden.

In a further indication of an intensifying war for talent in the sector the financial staffing specialist says buy-outs of shares, whereby an employer offers to buy out the shares or options that a prospective employee has accumulated under their current employer’s bonus scheme but which they do not yet own, are taking place in 80% of new hires compared to just 20% of new hires a year ago.

Astbury Marsden says 20% of bonuses are now bought by giving the new employee cash, with the remaining 80% bought by giving the new employee shares and share options.

Jonathan Nicholson, managing director at Astbury Marsden: “Banks are now prepared to buy out 100% of a potential employee’s shares or options they have locked up with their current employer.”