It is a familiar ritual that takes place every spring. Across the City, employees from top rainmakers to ambitious young bankers wait for their bonus to hit their bank account before resigning to join a rival.
Uncertainty surrounding the looming referendum on Britain’s membership of the EU means that widespread hiring has largely ground to a halt, with companies putting off making decisions until after the June 23 vote.
“There is indecision at the top end of the recruitment market because of a lack of clarity and understanding,” says Philip Marsden, founder of executive search firm Ridgeway Partners.
“The environment feels very different from how it normally does at this time of year. The situation is acutely worse in financial services because the downside of a Brexit is greater than in other industries.”
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