Morgan McKinley finds City of London employment market has increased by 21% since 2006

The City of London’s employment market has seen a 21% increase from 2006, according to new figures from Morgan McKinley.

The financial services recruitment firm found that figures for May were up 4% from the previous month, while candidate flow remained static on April levels, up by only 1%.

According to Morgan McKinley, demand for candidates searching for new career opportunities continues to outweigh supply, despite an 18% increase from May last year.

The average basic City salary, meanwhile, is steady at £51,084 in May, although total compensation levels continue to rise for sought-after talent.

Moreover, Morgan McKinley points to an upswing in total compensation packages, with those individuals most in demand commanding a premium.

Robert Thesiger, chief operating officer Europe of Morgan McKinley’s parent company, Imprint, said: “As predicted, City of London job numbers continued to rise in May 2007, while the number of financial services professionals looking for new opportunities showed little movement.

“With some of the smaller finance houses and boutique firms upping their hiring campaigns and catching up with the recruitment cycles of some of their larger counterparts, further pressure is being placed on supply,” he said.

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