INDUSTRY NEWS

Salaries in the City remain still

Salaries in the City of London have remained largely unchanged in the last year, despite recent economic wobbles.

Recruiter, Morgan McKinley has also observed while more people have been forced to look for work, there were extra vacancies available.

However, due "to the continued uncertainty in the global financial services market, it is unlikely that this marginal increase in job activity will be sustained over the summer months," Robert Thesiger, chief executive of its parent company Imprint warned.

The recruiter’s London employment monitor noted average annual pay fell one per cent over the year, although it jumped five per cent from May.

The average City salary was £50,645 during last month and there were six per cent more people looking for work.

Mr Thesiger observed firms are now more selective and focused on "reactive hiring", and job cuts have given them more potential employees to choose from.

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