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Summer Doldrums Aren’t Like They Used to Be

A few London-based recruiters say this summer has been their busiest on record ‘ a far cry from the usual summer doldrums. Not only has the summer been unusually busy, but hiring has been more consistent throughout the year, says Neil Price, senior consultant at Michael Williams Associates.

“We are not seeing the usual seasonal variations,” he says. “Despite the tradition of movement occurring immediately after bonuses are paid at the start of the year, hiring is continuing throughout the year ‘ a good reflection of a healthy FX market.”

Price says many sales orientated jobs ‘ particularly derivatives structuring and marketing positions ‘ are most in demand.

But the robust demand for staff is meeting with some resistance among those currently employed. “It is proving difficult to get people to leave their positions for new opportunities, because banks are trying a lot harder to keep their best traders, by offering incentives to stay. In turn, it is becoming more and more expensive to hire good traders,” adds Price.

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