Finance jobs disappearing in the UK

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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.

Comments (4)

 
Jul 15, 2020 - 9:51pm

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.
 
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Jul 16, 2020 - 8:13am

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.

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