Boom times for finance staff as job and bonus levels increase

Almost two-thirds (64%) of City professionals have reported receiving a higher bonus payment than in 2005, with one in 10 being paid an amount double or higher than in the previous bonus round.

This is among the findings of research from recruitment consultant Morgan McKinley, based on the number of candidates placed in jobs.

Looking at the current state of the City labour market for financial professionals, the research showed that vacancy rates nearly doubled during February 2006, with more than 16,550 new vacancies registered over the course of the month. This was up 47% on February 2005.

The discrepancy between supply and demand has also served to push up basic salary levels, according to Morgan McKinley, with senior professionals and directors able to command an average salary worth 76,750, up 6% on the previous month, and up 15% on the rate recorded 12 months earlier.

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