People

City vacancies up 40% on pre-pandemic levels as job switchers cash in on salary hikes

Morgan McKinley's London employment monitor showed spikes in the number of jobs available and in the number of jobseekers

Job openings were up more than a third in Q4 2021 compared to Q4 2019
Job openings were up more than a third in Q4 2021 compared to Q4 2019 Photo: Getty Images

Now might be the best time since the beginning of the pandemic to snag a job in the City, with 40% more vacancies in the financial services sector than in late 2019 despite booming pay packets.

While banks, asset managers, law firms and more have fought to retain talent, financial services workers changing jobs in the fourth quarter of 2021 cashed in on an average salary bump of 19%, according to recruitment firm Morgan McKinley.

WSJ Logo