Morgan McKinley London Employment Monitor - December 12

2013 Salary Survey key highlights include:

• 57% of professionals expect base salaries to stay the same, while 67% think that temporary/contractor rates will remain the same in 2013
• In the permanent recruitment market, 33% anticipate salaries rising by up to 10% and in temporary/contract hiring, 28% expect rates to rise by the same amount
• Attracting and retaining the best people is the main reason compensation is forecast to rise for permanent and temporary employees.  However, temporary/contract professionals also highlighted skills shortages as a reason for rates increasing
• Only 3% think base salaries will fall, mainly due to cost pressures while temporary/contractor rates are not predicted to decrease in 2013 at all.

London Employment Monitor December 12 highlights:

• The London Employment Monitor registered a monthly decrease in job vacancies of 36% in December 12
• Compared to December 11 this was a drop of 24% in newly available roles
• The number of job seekers entering the hiring market fell from November 12 to December 12 by 25%
• This was also a 50% decrease on the number of job seekers registered in December 11
• Professionals securing jobs in December 12 saw their salaries rise by an average of 7% compared to November 12.

 

Majority of City professionals forecast compensation to remain flat during 2013

 

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