Lunchtime Links: Totally contradictory reports on the number of candidates chasing London financial services jobs
Today marks the release of two totally contradictory reports on the number of people pursuing financial services jobs in London. On one hand, we have the latest Morgan McKinley survey, which continues the trend we highlighted recently, suggesting candidate numbers are going through the roof.
On the other hand, we have a new survey from Ambition recruitment, suggesting there are barely more jobs than candidates and that a severe candidate shortage is coming soon.
Morgan McKinley's latest graph is below. As you will see, it suggests there are now 2.1 new candidates for every new job. Ie. This does not take into consideration all the existing candidates also chasing new jobs.
Source: Morgan McKinley
On the other hand, this is the graph from Ambition. They are suggesting that there are currently 1.1 'skilled candidates' for every job, and think that by the fourth quarter there will be 1.2 jobs for every candidate.
Source: Ambition
Someone is very clearly wrong. If you're a pessimist, it's very clearly Ambition.
Some UBS insiders hint that the impact of weaker markets and sharply reduced activity will be less severe than most analysts' predict. But all acknowledge earnings will be down. (Financial Times)
JPMorgan has based the new head of its international business in New York. (Telegraph)
Main issue for banks in the UK is constantly changing tax and regulatory regimes. (Guardian)
Demand for IT staff still 30% lower than 2007. (Financial Times)
The SEC needs to hire 800 people. (Straits Times)
Banker-bashing is what the Lib Dem party faithful want and so that, depressingly, is what Mr Cable gave them. (Telegraph)
Jim O'Neil will be paid 180k at BFI. (Scotsman)
Jim O'Neil has not had a two week holiday in 17 years as an investment banker. (The Times)
"My heart sank": Paul Volcker when his eldest grandson told him he was going to become a financial engineer. (New Yorker)
