Doubled bonuses will not keep City workers in post

One fifth of workers in the City of London expect their bonuses to be at least double what they received in 2003, according to new research.

However, this does not seem to be enough to keep them in their jobs, with 60 per cent of staff surveyed by Morgan McKinley saying they would seek a new job after their bonuses were paid.

This could herald trouble for employers, who are reporting more openings. New jobs advertised rose by 19 per cent in November as employers begin to look to 2005.

Ken Brotherston, chairman of Morgan McKinley, said: “Although many workers rank getting a new job high on their New Year’s resolution list, career decisions involve much more complex factors than pure financial considerations.

“Consequently, although we have seen a normal seasonal increase in candidate numbers, we would be surprised if this turned into a flood come the end of bonus season,” he said.

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