Investment banking jobs rising, figures show

19 August 2009

New job openings in British investment banks have climbed to their highest level in 2009.

This is according to figures from recruitment firm Morgan McKinley, which said that the number of employment opportunities in the City in June and July was double the level seen in December of last year.

The average pay level for those working in the financial sector in July was up six per cent on June's statistic, rising to $87,332.

However, this was a one per cent decrease when compared to salary levels in July 2008.

Managing director of Morgan McKinley's financial services division Andrew Evans noted that "hiring is occurring across most areas within the City's financial services industry, particularly at the manager level and above".

He added that there was an "encouraging uplift" in the number of candidates searching for vacancies last month.

In June, Lloyds Banking Group announced it would be cutting over 1,600 jobs due to the closure of all its Cheltenham & Gloucester branches.

Written by Gary Cooper

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