FINANCE SECTOR SEES HUGE GROWTH IN DEMAND FOR IT PERSONNEL
Contractor Vacancies Up by 130% in the Last Twelve Months
June 2nd 2004 – IT vacancies in the finance sector increased substantially in the period of January to March 2004 compared to Q4 2003 according to the latest statistics from the CWJobs/SSL quarterly IT skills survey. While demand for IT personnel grew rapidly across the UK as a whole and most industry sectors during the first quarter of 2004, the finance sector alone saw a 32% increase in advertised contractor jobs and 20% more permanent IT vacancies available.
IT vacancies in the finance sector dramatically outperformed the UK average in terms of both contractor and permanent vacancies advertised between Q1 2003 and Q1 2004. The sector witnessed a massive 130% increase in contractor jobs compared to the national average of 58%, and a 43% rise in advertised permanent jobs compared to the national average of just 19%.
The most popular skills for permanent finance sector IT personnel during Q1 2004 were C++, Microsoft Office and Unix. Average salaries for developers with these skills were £51,000 for C++; £52,000 for Microsoft Office and £49,000 for Unix. This is a significant increase on Q4 2003 when the average developer salaries for these three skills were: £42,000 for C++; £46,000 for Microsoft Office and £42,000 for Unix. The top three skills for IT contractors in the finance sector in Q1 2004 were Office, Unix and Java.
The finance sector is the second largest employer of IT personnel in the UK advertising 24% of the total number of job vacancies during Q1 2004.
Commenting on the statistics, Richard Nott, Sales Director at CWJobs said:
“While the UK market as a whole has been showing signs of recovery over the last year, the finance sector has definitely been leading this growth. Finance and banking institutions in the City have shown particular confidence in an economic recovery over the last six months amid new deals and flotations in the financial markets.”
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Notes to Editors
The CWJobs/SSL data is based on key information taken from all the jobs advertised in the UK’s leading IT and multi-sector recruitment web sites, together with jobs advertised in IT business magazines, as well as national & selected regional press. The data does not include vacancies for sales or overseas-based positions.
CWJobs.co.uk is a specialist IT job board, serving contract and permanent IT jobseekers throughout the UK. The site draws over 300,000 unique users each month, attracted by the opportunity to search an average of 85,000 IT job opportunities.
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