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Professionals look to change jobs in buoyant marketplace Back  
Irish financial services professionals are most inclined to switch jobs, with 61 per cent of respondents to a poll conducted by recruitment firm Joslin Rowe, saying that they plan to move jobs within 3-6 months, compared with 58 per cent in London and 53 per cent in Scotland. Just five per cent said that they would definitely not consider moving jobs.

Of those planning on moving jobs, some candidates are holding back until their bonuses are paid before applying for new roles, says Paul Cotter, who heads Joslin Rowe Dublin. When they do decide to look for a new job, they will find a buoyant labour market.

According to Joslin Rowe, in January 2006, the number of newly advertised permanent positions in financial services is calculated to have risen sharply, to 23,875, almost twice the number registered in December (12,625). In Dublin, the pick-up is even more marked, with the number of new jobs rising 950 in December to 2,600 in January, up over 170 per cent.

Cotter explains, ‘It’s no surprise that the number of jobs becoming available increases in January, when compared with the traditionally quiet December. What is striking, this year, is the extent of the ‘bounce’, with well over twice as many new jobs being advertised in January as compared with December, and a quarter more than in a more ‘normal’ month like September or October. In terms of new jobs advertised, it’s certainly been the busiest month we’ve seen for some time, more so than September, October or November 2005’.
He adds, ‘At the moment, it remains very much a candidate-driven market, with financial services firms frequently struggling to find enough good calibre people to fill the vacancies they have available. On average, there are only 8 candidate applications for every 10 jobs available. There are particular candidate shortages in banking operations; insurance, life & pensions; and in investment banking, sales & trading. In other sectors the position is somewhat better, but in no sector of the market is there an adequate supply of candidate applications’.

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