By Daniel Hunter
Despite widespread uncertainty over the result of the general election, 77% of City workers say they are not concerned about their future job prospects after the election.
The survey of nearly 7,000 financial professionals in London, conducted by recruitment expert Hays, found that nearly a third (30%) are confident or very confident about their career prospects.
Professionals working in finance, governance and regulatory functions within the City are most confident about their future. Over one third (34%) say they are confident or very confident about their career prospects. This mirrors the demand for compliance and governance professionals due to the continuing global focus on strengthening financial regulation. Those working in front-office roles were most worried about their careers post-election (29% were concerned about their job prospects). Those in operations, technology and change were equally disheartened, with only 5 per cent very confident about the future.
The survey also found that nearly half of City workers (46 per cent) did not see any impact to their roles following the election, stating they were ‘neutral’ about career prospects in the wake of the general election. This is despite key questions hanging in the balance, notably the UK’s future in the EU and greater devolution, which could have a huge impact on the City’s place as a European and global financial hub.
Mark Staniland, managing director of Hays London City, said: “The future is looking brighter than it has done for a long time for the financial services industry. Economic growth is picking up and the competition for talent in financial services is at its highest since 2006. Our survey highlights that this positive top-level picture is trickling down and the majority of City workers are not concerned about their career prospects following the election despite the uncertainty associated with it.
"There may be some upheaval to come but, having weathered the worst financial crisis in decades City professionals are largely unworried by the temporary uncertainty created by the election. Regulatory and finance specialists in particular have real grounds for optimism — whatever party or parties end up in government, tighter regulation is here to stay.”