Five-month wait for new jobs
Philip Beddows, a director of BG Careers, said fewer people are going back into financial services. Some are enrolling at business schools or going travelling until the hiring market improves.
'People are thinking more widely than they used to, wondering what they really want from life,' he said. In financial services, hedge funds and private equity are among the most buoyant areas.
Linda Jackson, business director at Penna Meridian, said its figures show a rise in the percentage going back into financial services. But many high-fliers are accepting lesser roles, or taking jobs in second- or third-tier firms that they would not have looked at in the past.
She said poor internal communications have led some firms to lay people off, while at the same time hiring others with similar skills.
Penna has 130 outplacement consultants, up from 30 a year ago, because of increased demand. Nearly all work part time.
Alfie Noakes, chairman of Mark to Market, said some firms have become less willing to pay for long outplacement packages. 'It's a lot of money when large numbers of people are laid off and some employers just don't want to pay,' he said.
A three-month package is standard and can cost about 5,000.
Creative career moves by redundant bankers include joining the police and becoming a part-time butler. One foreign exchange expert became a care assistant.
