Is it difficult to find a job in London right now, specifically in the financial sector?
New job opportunities in London's financial services sector are down 23 per cent from March last year, according to research.
Huge losses across the industry stemming from the US subprime crisis have dented confidence, according to research from Morgan McKinley.
The study found candidates looking for new roles also took an average of ten days longer to secure a job when compared to last year.
The average City salary remained relatively steady at £49,765, a drop of 0.7 per cent on February 08 and 0.6 per cent on the year. However, individuals can still gain an average 20 per cent increase on their basic salary when moving roles.
Robert Thesiger, chief executive of Morgan McKinley's parent company, Imprint, said: "The slower pace of new job opportunities coming on to the market in January and February has continued throughout March.
"Job volumes are lower, candidate supply has exceeded demand for the third consecutive month this year and the time it takes for individuals to secure a new job has increased by an average of 26 per cent."
Mr Thesiger added: "I think most would agree that the remainder of 2008 will be tough for both the financial services industry and financial services recruitment."
Morgan McKinley said that although traditional high volume recruiters have held back on their headcount increases, niche boutiques and smaller investment houses have continued with their expansion and hiring plans, creating alternative career options for the City's talent.
any jobs are hard to get in london too many foreigners taking them all
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[Illustration: THE BANK OF ENGLAND, LONDON, ENGLAND.--This irregular,
isolated, one-story building, covering an area of four acres, and
located in the central part of London, is the largest and most
powerful institution in the world. It is the only bank in London
which has the power to issue paper money; its average daily business
is over $10,000,000. It employs 900 people, and usually carries in
its vaults from $75,000,000 to $100,000,000, while there are from
100 to 125,000,000 dollars of the bank's notes in circulation. On
the right is the Stock Exchange, giving 1000 stock brokers daily
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not required to be paid in respect of persons so employed."