Finance salaries remain stagnant, but applications still rise
According to the latest quarterly job market report from CV-Library, the UK’s leading independent job board, finance job applications rose by a resounding 16.1% in the final few months of 2019.
The report looks at job market data throughout Q4 2019 and compares this with findings from the previous year. It reveals that the finance industry experienced one of the highest rises in applications in the UK, with the top ten including:
1. Hospitality (up 71.6%)
2. Charity (up 61.2%)
3. IT (up 38.1%)
4. Legal (up 29.7%)
5. Construction (up 19.9%)
6. Finance (up 16.1%)
7. Property (up 15.8%)
8. Engineering (up 14.8%)
9. Marketing (up 10.4%)
10. Education (up 6.7%)
What’s more, it seems that candidates haven’t been put off by the fact that salaries in the finance industry remained fairly stagnant, increasing by just 0.4%.
Lee Biggins, CEO and founder of CV-Library commented: “It’s no surprise that salaries only saw very limited growth in Q4 2019 than in the previous year. The final few months of 2019 saw a great deal of political uncertainty; between the original Brexit deadline and the December general election, businesses were forced to tighten their belts and prepare for the worst.
“However, it’s clear that this didn’t put candidates off applying for new roles. While this is positive for businesses across the finance industry, it’s unusual to see growth in applications at this time of year. This suggests that professionals are tired of waiting for the current political landscape to settle and that they might be looking for something other than a high salary when it comes to changing jobs.”
In response to the application growth businesses in the finance industry have also increased the number of job vacancies on offer by 9.3%.
Biggins continues: “It’s important to keep investing in top talent – even during times of uncertainty. Ensuring that your company has a passionate and suitably qualified workforce will help to future-proof your business, so now is the perfect time to think about pushing forward with your recruitment efforts.”
