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TOP STORIESGUEST COMMENT: Moving around can help you survive the jobs crunch3 July 2009By Andrew Evans, Managing Director, Morgan McKinley COMMENTSIn my experience a great deal of the 1/3 that say they will relocate actually won't, when push comes to shove. There is also a direct correlation between length of time out of market and appetite to work outside of London / south east of England. Read all comments »
Everybody knows that the jobs market is extremely competitive at the moment but thinking outside the box when it comes to your job search could go a long way in helping you to secure that role. Recently, Morgan McKinley conducted a survey of 600 UK finance professionals who are currently job hunting. We found that a third (34%) said they would relocate to secure their next career move. In addition to this, two thirds (65%) of finance professionals that we surveyed said that they would increase the length of their daily commute. Of those, almost 40% would consider adding up to an extra two hours per day to their travelling time. This suggests that there is a shifting mindset amongst today’s finance professionals. People are realising that when it comes to finding a new role, it’s necessary to swap the ‘I want’ mentality for ‘what can I offer and where can I offer it?’ One example of this is Cambridge graduate, Jamie Astbury. He found it difficult to find a role in London and so decided to extend his search to include other parts of the UK. In doing so, he managed to secure the job he wanted at a top-tier investment bank’s offices in the West Midlands. Astbury told us: “It wasn’t easy, but at the end of the day, I’ve been able to secure a good position and get my first step onto the career ladder, which has to take priority.” The job market is tough. Significantly fewer new positions are becoming available than this time last year. However, there is still some demand for finance professionals in areas such as defence, power, utilities, energy, food and drink, telecommunications, the public sector and even financial services. Over the last couple of years, there has been an increase in the number of financial services organisations with operations in regional UK centres. This can be attributed to the increasing popularity of ‘near-shoring,’ as opposed to ‘off-shoring’ internationally. Near-shoring has resulted in a much wider choice of financial services employment options around the country than there were three or four years ago. Specialist recruiters Morgan McKinley, ECHM, and Nigel Lynn have united under the brand name: Morgan McKinley.
COMMENTSSenior Intl Recruiter, HR & Recruitment, Fri 03 Jul 09In my experience a great deal of the 1/3 that say they will relocate actually won't, when push comes to shove. There is also a direct correlation between length of time out of market and appetite to work outside of London / south east of England.
Doctor, Capital Markets, Fri 03 Jul 09Agree with Senior. Desperation is forcing many to go to places like Singapore. Add your comment »fo6figures, Trading, Fri 03 Jul 09The article is reffering to the city of Birmingham,...and a big german IB which has operations in Birmingham ...they try to establish a PWM team for the their UK clients, plus have settlements teams. if the Cambridge student end up in Brum having a Brum salary then it s a shame really. Add your comment »restandrelax, Asset Management, Fri 03 Jul 09I guess Doctor, for some unfathomable reason, does not like living in Singapore where the standard of living is much higher, the crime rate much lower, personal income taxes much, much lower, where the infrastructure just works and where one's taxes does not go towards supporting loafers and benefit cheats. Add your comment »emilio13, Sat 04 Jul 09Agree with Senior, reality bites for many many who have coasted & assumed they will simply walk into their next role. Add your comment »Female, Investment Banking / M & A, Sat 04 Jul 09Previous generations of wives did not have a job and had to put up with literally everything their husbands demanded, including relocating, taking their kids out of school and so on.
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