2024: The Big Shake‑Up in UK Finance
Alright, let’s get straight to the point—2024 is the year that’s turning the finance world upside‑down. Why? Because a perfect storm of hefty AI funding, political boardroom drama, and interest rates falling to their lowest levels in ages has set the stage for a seismic shift.
AI: The New Money‑Making Muscle
- AI Investment soars: A whopping 98% jump from last year—yes, almost double!
- Almost 2/3 of banks are betting on AI right now (63%) compared to a modest 32% in 2023. That’s a massive leap in just one year.
- From smarter customer service to fraud detection, AI is becoming the backbone of modern banking.
Political Moves & Interest Rate Rants
- UK politics is steering policy directions that make investors nervous yet curious.
- Interest rates are on a downward slide, giving banks a chance to pull in more loans with lower costs.
What This Means for the Average Investor
With AI’s power and more accessible credit costs, you’re more likely to see cutting‑edge solutions in your everyday banking experience. Expect evidence‑based recommendations, automated asset management and a smoother checking of your account histories.
Bottom Line
2024 is not just another year on the calendar—it’s a negotiation table where AI, politics, and rates decide the future of finance in the UK. Don’t miss out, stay tuned, and maybe grab a coffee while you’re at it. The future is buzzing, and it’s calling your name!
Fintech drives Vacancy boom with record growth in 2024
Fintech Jobs Surge in 2024—A Wild Talent Magnet!
Across the UK, the fintech sector is practically a job‑booming magnet, reporting a 44% jump in professional vacancies year‑on‑year.
The driver? A cocktail of rising venture‑capital appetites, a wave of AI and automation adoption, and the ever‑splintering scene that’s spawning fresh start‑ups.
Stepping Ahead: Companies Setting the Pace
- Wise Payments led the charge with an eye‑popping 225% rise—335 new roles on the books.
- Ebury Partners wasn’t far behind, posting a 148% increase to 286 openings and proving scale‑up who’s best.
What’s the Hot Commodity?
Business development and sales have become the most coveted gigs, accounting for a whopping 1,277 positions. That’s a 54% growth from last year, representing 10% of all vacancies in the sector.
Why the Frenzy?
With fintech embracing automation across the board, skills in AI, data science, and digital commerce are now in high demand. Talent is flocking to teams that can shape the future of digital payments, venture-backed innovation, and global finance.
Bottom Line
2024’s fintech boom keeps job seekers on their toes—if you’re keen on making money and impact, the field’s ready to take you on.
Growth in accountancy
Accounting Gets a Turbo Boost in 2024
The world of numbers is finally feeling the glow—accountants are popping onto the scene with a 29% surge in job openings. That’s the biggest demand boom in half a decade, and 54% of all vacancies are for accountants.
What’s Driving the Boom?
The secret sauce? Two sizzling trends:
- Green Credentials – Investors are throwing cash at eco-friendly services, and accountant teams are flexing green expertise to keep up.
- AI Integration – Smart tech isn’t just a buzzword; it’s opening shiny new doors for tax gurus who can juggle numbers and code.
Tax Roles – The New Powerhouses
Tax specialists are no longer side quests – they’re the main event. Regulated changes and shifting political walls have created a boom in opportunities for accountants and consultants, more than 50% of job openings now revolve around tax.
PwC’s Winning Formula
PwC reported a 30% jump year‑on‑year in openings, with over 1,000 fresh roles popping up. Spurred by a push toward sustainable outcomes and smart tech upswing, they’re leading the market.
Regional Champions
Don’t forget the local heavyweights:
- Francis Clark – 76% growth in vacancies.
- Azets – 59% increase in openings.
So buckle up, numbers nerds—2024 is the year to dive deep into accounting, bring your “green” hat, and let AI help you shine.
Banking sector faces significant reduction in vacancies
Banking Vacancies: The Tightening Grip of 2024
In 2024, the banking sector saw a noticeable contraction across most divisions—overall hires dropped 11% as the industry wrestled with sweeping restructuring and stricter regulations.
Risk & Compliance: The Sunny Side of a Rainy Season
- The heart of banking—risk and compliance—experienced a 20% plunge in openings. Fewer regulatory twists meant less demand for this once‑glittering hiring stream.
Big Banks Putting the Boots Down
- NatWest and Barclays led the pack with dramatic cuts, dropping 51% and 45% in job listings respectively.
- Lloyds Banking Group managed a softer slide, shedding 19% of roles and ending the year with 1,931 positions posted.
Where the Spark Still Lives
- Operations & IT development kept the lights on, growing jobs by 6% and 2% respectively—proof people are still chasing efficiency and tech upgrades.
Looking Forward: A Pinch of Hope
Even in a contraction lull, fresh regulatory proposals are on the horizon. If investment banks gain access to retail capital, it could turn the tide and spark new growth in the coming years.
London leads growth in finance
London’s Finance Job Surge vs. the Peripheral UK
In 2024, the capital’s finance sector exploded with a 7% jump in vacancies, while the rest of the country saw a 4% dip. The hard‑to‑ignore takeaway? London’s definitely pulling ahead, leaving the rest of the UK scrambling to catch up.
Why the Jump Happened
- Financial Hub – London keeps hosting the world’s biggest banks and investment firms.
- Tech Boom – Many fintech start‑ups choose the city for its digital talent pool.
- Talent Magnet – Global professionals flock to London’s buzz, boosting demand on the job front.
What the Bigger UK Should Do
To balance the scales, we need a deliberate push to spread opportunities beyond the capital. Think smart incentives, technology parks, and – most importantly – a bit of dream‑building in places like Manchester, Birmingham, and the Scottish Highlands.
Business Voice: The Big Picture (Paraphrased)
Victoria Walmsley, Managing Director at Morgan McKinley UK, sums it up:
“The UK job market in 2024 showed steady resilience, even with the weird global twists and economic stiffening. Tech, health, and green energy sectors stayed rock solid, fueling new digital experiments and fresh ideas. Looking ahead to 2025, we’ll face skills shortages, rule shifts, and changing job‑search mindsets. Yet, those hurdles also open doors for creative growth.”
Her exact words:
Ready to Ride the Market Wave?
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