More jobs expected in the financial services sector

A survey by CBI/PwC has shown that businesses within the financial services sector in the UK have increased jobs by around 10,000 in the third quarter of the year, with a further increase of 2,000 jobs before the year is over. This has raised optimism in the sector to the highest level since 1996.

This is disputed by the findings of a Financial Services Survey conducted by the Confederation of British Industry. The results of the professional services firm are available online and show a marginal fall in the figures for the same period with an expectation of volume rising to its highest level since 2010 in the following quarter.

The survey was carried out with 99 senior financial business figures and shows the changing business strategies, regulatory compliance and stronger demand as major recruitment drivers.The financial sector had positive news in the last month when recruiter.co.uk revealed the recent Robert Walters European Job Index showed a rise in the UK adverts for jobs in all sectors rose with financial services leading the way.

The Reed Job Index for September showed banking and financial services job opportunities rising year-on-year by 26% and 13% respectively. InterExec (an international executives confidential agent) revealed the results of their recent survey which showed a year-on-year rise of 38% in unadvertised financial services executives since the beginning of the year.

The survey carried out by the CBI/PwC showed that only a small number of firms (1%) were concerned about opportunity for business growth, with staff turnover being a limiting factor. This figure was higher in December 2012 and June 2013 but has now returned to the same level as in the report published in September 2012.