The number of job openings in London's financial services increased by 3% in Q1 2025 from the prior quarter and by 14% compared to last year. A seasonal bounce of 12% along with ongoing market volatility and economic uncertainties, such as changes in US trade tariffs, have tempered overall hiring. Increased hiring in fintech, particularly for compliance and risk professionals, is notable, with a projected 72% rise in vacancies. Firms remain cautious due to cost-cutting efforts and economic conditions, impacting hiring strategies and practices.
The latest figures from our London Employment Monitor points to a continued rebound in London's financial services hiring. Following a 12% seasonal bounce in Q1, we've seen a further 3% increase this quarter and a 14% year-on-year uplift.
Fintech continues to be a standout driver of growth, with strong demand for compliance and risk professionals. Greater London is projected to see a 72% rise in vacancies in 2025, making it the UK's leading sector for hiring.
While permanent hiring has held steady, up 3% over the quarter, the contract market has cooled since Easter. Interim recruitment has been subdued with firms prioritising stable, permanent teams in core.
Many firms remain cautious on headcount due to ongoing cost-cutting and economic uncertainty and the government's decision to raise employer National Insurance contributions have tempered business confidence and impacted hiring.
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