As 2014 draws to a close, the festive period amid its joyfulness is a time of thinking ahead to what is in store for the New Year. Among the long list of ‘to-dos’ is finding a new job. Whether it’s boredom, lack of progression, making more money or just the right time to move on, professionals find the two-week downtime period during Christmas and New Year as their gateway to finding a new career. Supporting this notion is the fact that the London job market is ‘live and kicking’ with several firms looking to score a win with a new hire that can make all the difference.
London, the world’s financial capital accounting for over forty percent in global currency trading volumes, has maintained its position as the hub of all things finance. Apart from being abode to the world’s largest banks, in some shape or form, it has mirrored its reputation as a sound and stable marketplace for the growing FX and CFD providers space, with signs of openings for binary options brokers who are taking advantage of the UK’s inconclusive views on the short-term trading product.
The Types of Roles
Sales-oriented roles are common to find on the job boards, as the same players keep recruiting throughout the year as they attempt to find their match made in heaven, for some reason it seems to be a tough search. City Credit Capital advertises a number of sales roles, and it comes as no surprise that during the New Year search professionals in the London sales market can try their luck at a career, if they haven’t already done so!
IronFX is a recent contender to the UK scene through its new, large and lavish office that we inaugurated in the summer this year, situated at Bevis Marks with a capacity of up to 120 staff members. Joining them is Forex Time, a Cypriot-origin firm that has a UK set up sourcing new staff members in business development, but also like many firms is looking to strengthen its marketing division under the digital banner.
Hantec has advertised an ‘amazing’ opportunity for a web developer, with Alpari UK searching for professionals with a legal background.
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City Credit Capital took the direct approach and has advertised for an Introducing Broker. The advertisement states: “You will be gaining new business by finding Forex and CFD Traders and introducing them to the products which City Credit Capital have to offer.” The firm is also using the advertisement to recruit forex traders as it adds an incentive of additional earnings on the trade. It adds: “If you are currently a FX Trader then you can also get rebates on round turn lot traded.” City Credit Capital explains to job seekers in the advert that they have the potential of earning up to ten thousand dollars residual income.
Binary options firms are pushing themselves ahead with one brokerage firm offering a lucrative remuneration package with on-target-earnings for a Senior Broker of $232,000.
London, Finance and the Economy
Financial services account for a major portion of the UK’s economy, figures from the Oxford Economics estimate the sector added $76 billion in 2013. The square mile of the City of London is the heart of the center with over 392,000 employees working across sectors, this is followed by recent entrant, Canary Wharf, which has an estimated 145,000 employees concentrated in the area.
The global financial markets have been hit by the recent Libor and forex riggings cases and banks and financial institutions have been faced with increasing costs as they deploy new systems and enhance their resource-base to prevent future issues. A recent pwC (September 2014) survey showed that “firms are still experiencing skills shortages in digital and compliance areas, reflecting recruitment survey data showing increased hiring in risk, compliance and IT functions.”