Sharp rise in London professionals looking for new roles

Number of professionals in the capital actively looking for a new role is up 59% on the equivalent period in 2014

The number of professionals searching for a new role has seen a year-on-year increase of 59%, according to figures compiled by Morgan McKinley.

The Morgan McKinley London Employment Monitor suggests that April saw a strong desire to move among workers (up 28%) coupled with a large number of available opportunities (up 14%).

There is also good news for those looking to move for a higher salary. The average salary change for those who are successful in securing a new role increased by 19% between March and April.

Despite the higher salaries available and slight increase in opportunities, over the past 12 months job creation has failed to keep pace with the numbers looking to move.

Available jobs has increased by 17% since April 2014 – but with 59% of professional looking to move there may be a deficit in the jobs market. This doesn’t take into account current roles that will be freed up when people move on and need replacing.

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Morgan McKinley Financial Services operations director Hakan Enver said the figures are largely in line with the recent trends.

“We’ve seen increases from every angle; month-on-month, year-on-year for both job opportunities and those seeking new roles,” he said.

“This is in line with what we predicted last month. With bonus rounds coming to a conclusion at the end of the first quarter, April is typically a month where we see people actively looking for new roles.”

A separate part of the research conducted focused on graduate hiring within London. It found that the area has largely been unaffected by the long-term impact of the financial crisis.

More than half (53%) of companies polled said it had had no impact on its graduate hiring programmes. A few (9%)  said they had even increased the level of recruitment over the period.

Enver commented that the data dispelled many of the myths around graduate hiring stalling due to the recession.

“There has been much discussion around the negative impact of the financial crisis on graduate hiring, but our data doesn’t support this. Exactly half said that it impacted their graduate hiring,” he said.. ”If anything, it shows the UK finance sector as being resilient, even in the midst of a historical crisis.”

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Praseeda Nair

Praseeda Nair

Praseeda was Editor for from 2016 to 2018.

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