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Late Lunchtime Links: Proof that people are giving up on getting banking jobs

Desk

January is a big time of year if you’re looking for a new job. Post-Christmas is both the time when new jobs are advertised and when new candidates make themselves known to recruiters. In January 2013, the number of new candidates looking for financial services jobs in London was at its lowest point for seven years.

The collapse in financial services job seekers is reflected in figures from recruitment firm Morgan McKinley. Based upon its own figures and its own market share, Morgan McKinley calculates the number of jobs and job seekers in London’s financial services market. In January 2013, Morgan McKinley calculated that 5.065 new job seekers started looking for finance jobs in London. This was down from 6,827 new job seekers in January 2012 and from 11,060 in January 2011.

Unfortunately, the collapse in new job seekers has been matched by a collapse in the number of new jobs. In January 2011, Morgan McKinley’s figures suggested that there were 1.9 new financial services job seekers for each new role. In January 2013, there were 2.2. Even though the number of job seekers has halved, it’s still harder to find a banking job in London now than it was two years’ ago.

Meanwhile:

Despite Libor, Stephen Hester is getting a £780k bonus this year. (Sky) 

Head of Qatar investment banking at Credit Suisse has mysteriously resigned. (Reuters) 

Goldman’s got a new global head of M&A. (Financial Times)

“There is renewed excitement on the M&A floor,” says Hernan Cristerna, head of M&A Emea at JPMorgan. (Financial Times) 

RBS has been presenting itself to students as a socially useful, pseudo-charitable, place to work. (Guardian)

Ex-Wall Street deal maker sets up own firm. Has humbling experience of answering own phone. (Dealbook) 

Vice president of the Bundesbank says bonus caps aren’t enough – banks must also cap salaries. (Bundesbank)

It is suggested that Fred Goodwin repay £6m in bonuses. (Daily Mail)

“Sleep is not a luxury. It is critically important for the brain.” (The Times) 

The best performers rarely work for more than four and a half hours in any given day. (New York Times) 

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