Finance jobs disappearing in the UK

I am currently browsing opportunities. Is it me, or has the situation in London gotten a lot worse over the past few years? I've not changed jobs since 2015 and a usual scenario today is to find 50+ job openings in the US and only a few in London. Maybe I'm mistaken but I don't remember this being the case in 2014-2015.

 

it's not just you.

low interest rates & declining trading revenues since 2008 have really hurt the sector, and adding brexit on top of that twisted the knife. a lot of banks in the UK were slowly downsizing/juniorising/reducing headcount through natural attrition before brexit, but it's become much more acute since - just look at HSBC. all the big players are in damage control.

hiring has been pretty brutal in the last couple of years as a result.

Thank you for your interest in the 2020 Investment Banking Full-time Analyst Programme (London) at JPMorgan Chase. After a thorough review of your application, we regret to inform you that we are unable to move forward with your candidacy at this time.
 
Most Helpful

Fees and AUM are under pressure which reduces the incentive to expand headcount and anyone who is in a seat is just desperate to hang on so there is little turnover. I notice that there is a lot less interest (in the SM space) in hiring unproven guys compared to the early 2010's (2010-2016) when things were a lot more fluid and you could get an interview. The SM HF space in London is overrated in my opinion and pay is not really much better than at the banks. The only real advantage is getting paid in cash while your peers at banks are getting deferred stock.

 

Assumenda rerum cupiditate voluptatum voluptatem sed sint neque. Sint sunt cupiditate sint voluptas est rem.

Career Advancement Opportunities

March 2024 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • Magnetar Capital 96.8%
  • Citadel Investment Group 95.8%
  • AQR Capital Management 94.7%

Overall Employee Satisfaction

March 2024 Hedge Fund

  • Magnetar Capital 98.9%
  • D.E. Shaw 97.8%
  • Blackstone Group 96.8%
  • Two Sigma Investments 95.7%
  • Citadel Investment Group 94.6%

Professional Growth Opportunities

March 2024 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 97.9%
  • D.E. Shaw 96.9%
  • Citadel Investment Group 95.8%
  • Magnetar Capital 94.8%

Total Avg Compensation

March 2024 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (23) $474
  • Director/MD (12) $423
  • NA (6) $322
  • 3rd+ Year Associate (24) $287
  • Manager (4) $282
  • Engineer/Quant (71) $274
  • 2nd Year Associate (30) $251
  • 1st Year Associate (73) $190
  • Analysts (225) $179
  • Intern/Summer Associate (22) $131
  • Junior Trader (5) $102
  • Intern/Summer Analyst (249) $85
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”