Executives job surge in the UK financial services sector

Munich, November 17 2010 – Is this a sign of emerging economic confidence? The UK executive job market experienced a major trend shift this year - the financial services sector practically doubled its hiring demand, outpacing job growth in all other major industries.

Experteer, the executive career service for high-calibre professionals in the UK and Europe, recently analysed the availability of senior-level positions across various industries. Using data from one of the most active months in the recruitment industry, the September 2010 figures reveal the strongest executive job growth – almost 10% – in the financial services sector, compared to the same period in 2009. For an industry hit hard by the recent recession, recovery appears to be well underway.

Overall, the consulting industry still retained the top spot with its 25% share of the UK executive job market, but its year-over-year growth was stagnant at best, dropping 3% from 2009.

2009 2010
Financial Services 11,1% 20,1%
Consulting 28,2% 25,2%
Information Technology 14,2% 17%

The Information Technology (IT) sector showed a 3% gain over 2009, demonstrating its firm position in the Top 3 industries for executive job demand. Given the continual innovation and IT-centric growth strategies in areas from data storage to information security, this sector will prove a reliable job source for senior-level talent.

Nina Zimmermann, Head of International at Experteer, comments as follows:

‘Given the fact that the financial industry is one of the pillars of the UK economy, it is no wonder that during the global crisis our country was harshly struck. Nevertheless, our executive talent has once more proved its versatility. With an increase of almost 10% of the executive job market share in 2010, the UK financial market appears to have regained its stamina. This outcome could lead us to the conclusion that the financial crisis is finally showing signs of defeat. It certainly shall be interesting to follow the evolution of this trend, especially with harsh cuts in the public sector on the cards. We have to see what will be the knock-on effects in the private sector. And not only in regards to Financial Services, but also related to Consulting – will this sector take a step back?’