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Lunchtime Links: Statistical confirmation that it is now substantially harder to find a new financial services job than this time last year

Statistically, it was 43% more difficult to find a new financial services job in March 2011 than it was in March 2010. In 2010, there were 1.4 new jobseekers chasing each new job; in 2011 there were 2.

Worse, in March 2011 the number of surplus new candidates over new jobs in London rose to an all time high of 6,684.

Such are the conclusions to be derived from Morgan McKinley's latest survey of the state of the London recruitment market. The usual caveats apply: Morgan McKinley mostly hires for the front office and mostly hires junior to mid-level people, but it doesn't look pretty.

And then there's this graph:

MorganMckinleyMarch2011

Source: Morgan McKinley's stats

Over the past decade Glencore has delivered an impressive 38% return on equity per year. (Reuters)

Senior Glencore people are not allowed in Zug for more than one day a week. (Reuters)

JP Morgan's investment bank had its second most-profitable quarter ever. (Financial News)

Accountants at PricewaterhouseCoopers have earned 322m in fees from the collapse of Lehman Brothers' European arm. (Guardian)

US Senate investigators will refer evidence about Goldman Sachs and Deutsche Bank to the justice department for possible criminal investigations. (Financial Times)

Renaissance Capital has hired Yavuz Uzay from Goldman Sachs to cover Turkish equity research. (Financial News)

China might invest $13bn in Spanish banks. (Reuters)

A top fund manager has left BlueCrest. (FinAlternatives)

1,000 economists have written to the G20 suggesting a Tobin tax. (Guardian)

Those who expect people to act selfishly, actually experience uncooperative behaviour from others more often. (MPG)

Facial features of the very rich. (DailyMail)

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AUTHOReFinancialCareers UK Insider Comment
  • Ro
    Rob
    18 April 2011

    Isn't 2 people per job still fantastic compared to jobs outside financial services and outside London?

  • XF
    XFiles
    15 April 2011

    I love it here in good old UK, as usual an inspiring read on efinancialcareer, NOT

    Gambling websites, here I come, haha

  • MM
    MMc Burger for me please
    14 April 2011

    Morgan Mckinley mostly hires for the back office and wouldn't know a front office person if they hit them on the head!!!

  • Fe
    Fed Up of Tunbridge Wells
    14 April 2011

    Bad news indeed. Might as well give up all aspirations of that new job, payrise, sign-on bonus and might as well delete efinancialcareers from my list of favorites and replace it with a on-line gambling website instead.

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The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.