Better skills help UK candidates gain City jobs

Hands-on
skills, better education and an increased knowledge of foreign languages have
put UK candidates back in line for top-paying City banking jobs.

According
to research by City headhunters Napier Scott, two years ago London City jobs
were dominated by overseas staff, with European counterparts expecting to earn
salary packages up to 25 per cent higher.

But
while UK staff have seen their salary fall by 5 per cent in the last two years,
European workers have seen a 25 per cent drop in earnings.

The
average salary for UK specialists – those working in sales, trading,
structuring and analysts – is now £159,000, £2,000 more than European workers.

Shaun
Springer, CEO of Napier Scott, said that new UK candidates are better educated,
with one in five completing a Masters degree, and being more likely to be
fluent in foreign languages.

However,
Britain still falls a long way behind other European countries, with only 28
per cent of those surveyed speaking a second language. Nine out of 10 Germans
at the same level speak three or more languages according to the survey.

By Michael Millar

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