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Late Lunchtime Links: Here’s how many people are competing against you for banking jobs now

Both applying for job

So you want a job in banking now? Does this mean you’re up against thousands of people? Surely, the 40,000 people removed from HSBC will all be sending in their CVs? And how about the 550 people suddenly being let go from SocGen’s Parisian headquarters? Redundancy-related headlines suggest the world is awash with bankers looking for work.

In fact, the reality may be more arid – and more favourable to financial services job seekers than anyone would have dared expect. According to recruitment firm Astbury Marsden there are a mere 1.75 ‘qualified candidates’ applying for each financial services job in London now. Even better, this is down from two qualified candidates per job over a twelve month average. Astbury Marsden doesn’t say how many unqualified candidates are chasing jobs in London, however…

Meanwhile:

Astbury Marsden says 2,600 banking jobs were created in London last month. (Evening Standard) 

Numis profits more than trebled in the last six months. (Evening Standard)

JPMorgan appears to be cutting commodity traders. (Bloomberg) 

Commerzbank is cutting up to 6,000 jobs by 2016. (Bloomberg) 

Credit Suisse accused a former emerging markets VP who joined Goldman Sachs of stealing company secrets. (Reuters) 

In the aftermath of the financial crisis, Morgan Stanley made more effort to fix its risk systems than JPMorgan. (Wall Street Journal)  

The new reality: You work 40-plus hours or you work zero. (Raptitude)

People who’ve gone grey have suffered from ‘massive epidermal oxidative stress. (Telegraph) 

 

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