Hiring and pay move in tandem

Figures from the Bank of Scotland suggest Scottish IT and financial services hiring are on the increase, but talent is scarcer than snow in July and pay is rising.

"In June we saw continued demand for financial services employment for both temporary and permanent roles, and even stronger demand for IT and computing staff," says Bank of Scotland economist Tim Crawford. "We're noticing evidence of skills shortages in key industries, which is putting pressure on pay."

Crawford says he sees wages rising relative to the rest of the country. 22% of consultants in Scotland signalled wages were increasing, largely driven by competition between employers for scarce talent.

Finance and IT professionals seeking employment opportunities would be welcomed with open arms. Crawford says, "Financial services has one of the fastest employment growth rates in Scotland, and continues to be a key driver in the economy, we see that continuing in the next three to five years."