Financial Services

Following the result of the EU referendum result two weeks ago we might expect for a period of retrenchment throughout the Financial Services sector.  

However, throughout the last month we have experienced an increase in both temporary and permanent opportunities across Edinburgh and Glasgow. The market has held up remarkably well following Brexit, and we continue to see considerable confidence within the market, and this has shown itself through multiple roles being released within the banking sector. With confidence in the market being high at this moment, when we might expect for it to be at its lowest, I expect for this confidence to continue, with more roles being released.  

Candidate Attraction

With more roles being released, what we are experiencing at this time is a shortage of candidates within certain markets, especially those with commercial experience within both financial services and corporate tax. To some extent this might be as a result of the Brexit result. Candidates may be anxious following the news of the UK’s EU exit, but I am seeing candidates are moving for the right opportunities. This is putting an increased responsibility on organisations to market their roles and opportunities and their respective organisations in a positive manner, actively selling themselves well. 

Salaries

With very good packages being offered by the Big 4, I am seeing most organisations offering higher salaries to newly qualified candidates within industry. Conversely, within Commerce and Industry, there has been a slight slowdown over the last few months, particularly for those in the £50k+ bracket. Out-with of financial services the transactional market is extremely buoyant, as is the newly qualified market, with clients seeking candidates with 2-3 years post qualified experience. In the manufacturing and FMCG markets also, we continue to see a lot of movement being made.

Scott Taylor is Associate Director of Accountancy & Finance

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