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UK: London in shortage of suitable candidates by year end
Ambition, a financial and professional services recruitment company, states that by the final quarter of 2010, there will be 12 vacancies for every 10 candidates in the financial services industry. This is a large rise since the first quarter of 2009, when the rate was at its lowest (3 vacancies for every 10 candidates) and is completely at odds with the graduate market which is seeing 75 candidates apply for each financial services and investment banking job.
Ambition says a lack of experienced candidates in financial services is leading to wage inflation, particularly in basic pay – experienced product controllers in temporary positions earning £300-£350 per day in January can now expect £350-£450 per day, whilst increases of £10 000-£15 000 on top of basic salaries of £55 000 to retain personnel are not uncommon. The company expects the legal and professional services to experience a similar upwards trend in the near future.