According to research by Morgan McKinley, 80% of London’s financial services professionals received a similar (43%) or higher (37%) bonus than last year, with 67% stating that they were satisfied with their payout, and 70% revealing that their bonus had either matched or exceeded their expectations.
This is against a backdrop of 71% of financial services employers stating that their companies’ bonus pots were similar or larger than 2007.
Morgan McKinley found that new job vacancies in the sector fell 20% in January 2008 compared to January 2007, as market uncertainty led to a slower start to hiring for the year.
However, job numbers still showed substantial growth on December 2007 figures, up 57%.
Typical of post-bonus season and consistent with the previous two years, the number of individuals wishing to change jobs rose in Jan 08, up 11% on Jan 07 and 87% on Dec 07, and basic salaries increased across all levels with the average salary rising 5% on Jan 07 to GBP53,246, the poll found.
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