Corporate finance job market shows signs of life

Yet a raft of job advertisements for corporate finance in London in the past week suggests there is life in the sector yet.

A global investment bank is looking for five analysts for its sector teams, said one ad. One to four years experience and strong modelling skills required.

Other ads showed a London-based boutique is looking for second-year corporate finance analysts, sector unspecified, while another bank wants media specialists "at all levels".

Other firms want London-based staff to focus on deals in Germany and Sweden.

Ben Hertzberg, a headhunter at TMP, said: "While of course the market is quiet compared to recent years, a few houses are still hiring carefully to expand their expertise. Infrastructure and healthcare are among the sectors in demand."

An analyst with one year's experience could still sometimes negotiate a salary of 45,000 (€71,000) a year, Hertzberg said. "Base salaries have come down slightly from a couple of years ago, and you won't be getting a guaranteed bonus. But banks will still pay well for the right people."

Philip Bailey, a recruitment consultant at Michael Page, said: "Boutiques are doing a lot of upgrading, as good employees are coming on to the market from bigger firms. Second year analysts are in some demand."

While most job ads give no indication of salary, some are more forthcoming - 40,000-50,000 for an analyst with two to three years experience, and 40,000 plus for consumer sector analysts with one year's experience gained in a top tier firm.

But candidates need to be top notch. "The banks' criteria are much tighter than they used to be," said Bailey. "If you don't meet all of them, you can forget about an interview."