Job Hunt in Finance? Harder Than a Tough Exam!
Spiffing up your résumé for a job in Financial Services is starting to feel like a game of hide‑and‑seek. While the industry is still pumping out
vacancies, the number of hopeful candidates is plummeting faster than a bad cup of coffee.
Numbers That Won’t Gel: Where Did All the Applicants Go?
- Permanent role applications shot down 57% from April to May 2024.
- Year‑on‑year, that’s a staggering 62% drop.
- Contract role applications fell 55% between April and May.
- Year‑on‑year drop for contracts: 48%.
- Vacancies themselves fell 25% (perm) and 26% (contract) month‑over‑month.
Even though fewer jobs are posted, the applicant numbers are deflating at a steeper rate, hinting that a skills shortage is burning hotter than a five‑star spa.
Industry Insider Insight
Ann Swain, Global CEO at APSCo says:
“Financial Services is still feeling the pinch from a tight labour market across the UK,” she begins, “but the drop in applications—much larger than the decline in vacancies—is the real red‑flag.”
She continues, “We’ve always wrestled with a talent gap that keeps widening. This year‑on‑year drop, particularly sharp for permanent jobs, looks like candidates might be chasing the glitz of contract work—think better pay, more flexibility, less commitment.”
In other words, for many people, a contract paycheck that smells of gold is pulling them away from griddy stable roles.
What Does This Mean for You?
- If you’re eyeing a permanent spot, be ready for a battle royale—some of the most qualified folks might already have chosen the contract route.
- Contract roles are lighting a fire under many wallets, often offering higher hourly wages and the freedom to ditch the 9‑to‑5 grind.
- Make sure your résumé flips, not just glows—it needs to scream, “I mean business!” in a world where applicant quotas are shrinking.
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