Home to twelve million people, London is Europe’s largest city and one of the most important financial centres in the whole world – in fact it is widely considered to share first place with New York. It is no surprise then that banking is one of the most important employment markets that London has to offer, and in fact it is the destination for many ambitious financial industry professionals.
Most of the city’s banking roles are concentrated in and around the City of London district, or the ‘Square Mile’, as it is known. Since the scope of London’s financial sector is so broad, there are a wealth of different opportunities available to professionals, even those without finance-related degrees. For example there are roles in research, IT or sales and marketing.
Rates of pay tend be above average in this sector, with senior financial specialists frequently earning six figure salaries. Starting salaries for graduate staff are also reasonable, with most beginning at around 25k per year plus benefits. Although always be aware that the cost of living in London is much higher than other parts of the country.
London’s financial sector has obviously suffered difficulties in recent years, and there have been some redundancies; however there are still new opportunities for ambitious professionals eager to prove their worth.
The City of London is home to a number of specialist recruitment agencies – from sub-sectors of big chains, to independent specialists. If you are a candidate, these consultants can provide sound advice on the sector, and on how to market your skills. Employers often make use of their services for searching out, and screening, the best talent the industry has to offer.