More applications to finance roles, despite a decline in pay

Are you looking to ramp up your hiring efforts as Brexit pressure eases? Well, according to the latest job market report from CV-Library, the UK’s leading independent job board, it’s definitely a good time. In fact, applications for new finance jobs have increased by a promising 13.3% year-on-year.

This is despite the findings, which analysed job market data from October 2019 and compared it with findings from October 2018, also revealing that average pay for new finance roles fell by 1.6% year-on-year.

Lee Biggins, founder and CEO of CV-Library, comments: “Finance professionals are clearly keen to move jobs right now and with the country now facing a significant break between any likely conclusion to Brexit, it appears to be a positive time to hire.

“That being said, the drop in pay suggests that employers are remaining wary; and they have good reason for this. While applications are up, the result of the upcoming general election could have a huge impact on the job market and our future in the EU.”

According to the findings, there were 10.3% more finance jobs on offer in October, suggesting that companies across the sector are pushing forward with their hiring efforts, despite not being able to offer higher pay.
Biggins continues: “While many companies are tempted to wind down in the lead up to Christmas and the New Year, it’s a good opportunity to get ahead with your hiring plans. The promise of higher pay is driving applications up right now, but it’s important to evaluate and assess the suitability of a candidate before offering them a bumper new pay packet.

“Set up a structured, fair and thorough hiring process to give you the best possible chance of making a great hire. Rushing or cutting corners can do more harm than good, and it can increase your chances of letting good candidates slip through the cracks.”