Goldman Sachs, JPMorgan, Citi said to ramp up London hiring this year, with a catch
If you had a tough time finding a banking job in London last year, you're not alone, but things seem to have been picking up in 2024. A recent report from recruitment firm Morgan McKinley based on figures from data and analytics firm Vacancysoft states that London job listings at many of the top employers in the industry are on pace to surpass the volumes of 2023.
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Vacancysoft estimates that in the first seven months of this year alone, Goldman Sachs and JPMorgan have already exceeded their total hiring for all of 2023.
It estimates that Goldman listed 521 vacancies from January to July this year in its London office compared to a seven-month average of 321 in 2022. JPMorgan listed 1,653 over the same period this year and a seven-month average of 922 last year.
HSBC is also up over the same time period, from 527 to 789.
Big Four firms Deloitte and EY have also surpassed their 2023 hiring volumes already, with 571 and 535 vacancies respectively.
However, away from Goldman Sachs, London banking jobs in 2024 don't look quite so plentiful when compared to 2022. JPMorgan's jobs are down 44.3% over a two-year period when comparing current figures to its seven-month averages of previous years. Citi's are down 84.8% and Barclays' are down 74.6%.
Even as hiring recovers, therefore, it's still below the wild highs of 2022. Banks could conceivably compensate by increasing recruitment in the final quarter - but this seems unlikely, particularly in a year when the US election risks adding volatility to the mix.
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