Another nasty month

11 December 2008

1 minute read

We are trying very hard to write positive things here, but Morgan McKinley, the predominantly back and middle office recruitment firm, keeps coming out with depressing statistics.

Its latest release, which covers the state of the London financial services job market in November 2008, suggests things are fast deteriorating. There were apparently 30% fewer jobs in November than October and nearly 30% fewer jobs in November 2008 than in November 2007.

Pay is falling too. The average 'City' salary is now a mere 46.5k.

The only good news is that candidates also keep opting out of the market: job seekers were 20% down year on year. Nevertheless, there are still nearly 4,000 more candidates than jobs.

AUTHORSarah Butcher

Global Editor

bo
bored
15 December 2008
what are you guys smoking? we are approaching bottom of the worst crisis in over 50 years.
30% of funds are de facto bust and cannot match commitments. 40-50% of the rest is just surviving being able to match commitments but no cash for investmnets..
so your are left with 20% mostly special strategy guys..
The banks have nothing really to do as we know.
So WHO will be hiring..?? they are happy to make through the next 2 quarters. If you are out right now, take a break and enjoy the money you made. all other is only frustrating,
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sa
sayitasitis
12 December 2008
FO superstar, your arrogance validates my point. I just wonder what the Oxbridge-educated traders think of you .......... "Who gave him the audacity to call himself a superster, ... he's a mere Front Office errand boy!"
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FO
FO Superstar
12 December 2008
Vanilla, only low-quality people get axed, hence I've comfortably survived 5 rounds of cuts here. And will be getting a bigger bonus than last year.
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Va
Vanilla
12 December 2008
FO Superstar - hold your gun buddy, the axe might be hanging above your head! Then you might have to decide between working in Starbucks and BO. Provided BO is recruiting.
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AB
A Bored Horse
12 December 2008
sayitasitis
If only our jobs were trying to predict what could go wrong... Maybe we could do that if we get made redundant.
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