Financial sector enjoys surge in recruitment and bonuses

The
financial sector is reporting a surge in recruitment and up to 40 per cent
increases in bonuses, according to the 2004 London Financial Services
Recruitment Review by recruiter Joslin Rowe.

The
poll of 128 London City institutions showed that 48 per cent had increased
their number of permanent employees in the past 12 months, with 57 per cent
intending to increase staff numbers this year.

Companies
are also putting increased emphasis on attracting a multiracial workforce, with
57 per cent saying that they now had a specific diversity policy.

Employees
said the top three things that would attract them to a business were bonuses,
healthcare and contributory pensions.

Median
average bonuses rose by a median of 5 per cent, with those at trainee level
receiving a 6-10 per cent bonus, 10-20 per cent at team-member level, 20-30 per
cent at manager level and 30-40 per cent at director level.

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Nabila
Sadiq, director of Joslin Rowe, said: "The results of the survey are
extremely positive and optimism has returned to the industry, leaving us all
with the hope that good times lie ahead."

By Michael Millar