Analysts, testers in short supply

"Recruitment is just as steady and busy now as it was at the start of this year," says Rob Lycett, a consultant in banking technology at Astbury Marsden. "In the past, there would have been a slowdown in hiring at this time, but we're looking for just as many business analysts now as we were in February and March."

Pay for analysts working in investment banks has risen around 10% in the past year, says Lycett. Front office analysts with two years' experience can now earn a basic salary of 50,000 to 60,000, plus a 20% bonus.

Concomitant with rising demand for analysts, Lycett points to soaring demand for testers. "Barclays Capital and UBS have a large appetite for testers now," he says. "It's very easy to get contract work - even if you don't have investment banking experience. Rates are around 350 to 450 per day."

Permanent testers with prior investment banking experience can apparently earn as much as 70,000 to 75,000 annually, plus a 20% bonus.