Job Help Kit
Opus Mitchell Job Help Kit
Express Registration
Download Brochure
Download the Opus Mitchell Brochure
Mailing List
Join our mailing list to receive regular updates and news.
|
|
Salary Tornado |
|
|
 March 2007 - An explosion in the number of vacancies in the leasing
market during quarter one has built pressure on recruiters and storm force
interest in highly skilled candidates.
This boom, through inevitable market dynamics, has lead to an inflationary
‘tornado' effect on salaries, with package values rising as those with growth
plans bid for selected individuals.
In February the FT reported that
demand for all kinds of staff was at a 27-month high, according to a study by
the Recruitment and Employment Confederation and consultants KPMG.
This recruitment trend builds on the
boom in financial services recruitment seen at the end of 2006 resulting from a
wave of M&A activity. Vacancies are
outnumbering the number of qualified candidates seeking jobs and those with the
right credentials are being snapped up fast.
"We are seeing exceptional
opportunities out there for the right candidates." reports Andrew Mitchell of
finance recruitment specialists Opus Mitchell.
"Many of our biggest clients are expanding existing departments or, in
some cases, adding new teams to their business.
Good people with the right background and skills sets are now in high
demand and in this hungry market we have seen successful matches made with
candidates transferring skills from other parts of financial services. Indeed, we have seen some new entrants to the
market from other successful sectors such as FMCG."
In an increasingly competitive
market many companies have segmented their teams to focus on very specific
sectors such as construction or transport.
This has lead to many professionals honing their skills and contact
networks, and hence becoming increasingly valuable. When these individuals decide to move they
invariably go to the highest bidder.
Market share and other drivers
The banks are continuing to do well,
capitalising on their existing client relationships. The wide range of services they offer is
locking leasing business in and they are able to support competitive rates
through economies of scale. This forces
their competitors in the leasing market to work hard to capture new business
and commercial skills are becoming increasingly sought after. According to Opus Mitchell the number one
demand at the moment is for sales people as leasing companies gear up to fight
for market share.
Adding to these market drivers for
recruitment, many organisations are now preparing recruitment schedules to ensure
they can fulfil their plans for 2008 and beyond.
Fuelling the fire further are the
normal seasonal factors: Those individuals that were sitting tight until bonus
pay outs are now free to move so staff turnover is set to continue. And the spring is talent scouting season for
graduates, with the long Easter holidays often a successful time for running well
stocked assessment centres.
So it's good news for anyone in the
market currently thinking of making a career move. The sheer number of vacancies has created
plenty of choice and with salaries well up on last year it's a sellers market. Andrew Mitchell comments "We're placing
quality people in record time so those wondering about hunting should stop
wavering and take action to make the most of these particularly favourable
conditions."
A time for celebration
Celebrating the boom in the financial
jobs market, many known industry faces were seen recently at Cheltenham Gold
Cup. The festival runs over four days
and is a favourite in the entertainment calendar for many banks and leasing
companies.
"Thankfully the selection of
candidates from Opus Mitchell is far better than their tips for Cheltenham!" said Nigel Mills of RBS Invoice Finance who
didn't disclose his personal net result at the races. "However, it was a great day with fantastic
atmosphere and Andrew Mitchell and his team were excellent hosts."
|
|
Job RSS Feeds
Get the latest Jobs direct to your desktop 
|
Opus Mitchell Limited