July hires receive 20% more in pay

Oliver Twist

Pay on the up ?

Firms in London’s main financial district awarded new hires with an average pay increase of 20% in July as companies added employees in product control and information technology, a survey showed.

Bloomberg News reports that’s the biggest average monthly pay rise since April and compares with a 14% gain in the previous month, Morgan McKinley, a services recruiter, said in its London Employment Monitor published.

The number of job vacancies jumped 10% to 9,315 in July from the previous month, while increasing 32% from a year earlier.

U.K. financial-services firms are adding staff in the wake a series of scandals ranging from mis-selling of insurance on consumer loans to manipulation of the London interbank offered rate.

Hit the link below to access the complete Bloomberg article:

London Banks Award New Hires 20% More Pay in July

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