Demand for Technologists Increasing, London Remains Stable
Barometer
CENTENNIAL, Colorado,
Sept. 9, 2020 /PRNewswire/
-- DHI Group, Inc. (NYSE: DHX) announced today that
eFinancialCareers, the trusted specialist financial services
platform, has released The Financial Services Tech Job Report as it
celebrates its 20-year anniversary. The report analyses tech
job postings from the first seven months of 2020 for three global
financial markets: United Kingdom,
Singapore and United States. eFinancialCareers is proud to
lead the finance-tech recruitment space by partnering with the
world's most respected financial organisations to provide unique
industry insights and efficiently place best-in-class
professionals.
Financial services tech hiring was trending positively across
the UK, Singapore and the US in
January and February of 2020, compared to 2019. The pandemic put an
abrupt end to this momentum as office closures in Singapore, the UK and US during February and
March led to negative trends in each market, specifically:
- UK job postings are down 12% year-over-year, though job posting
volumes have gradually increased from April to July, consistent
with the UK's approach to reopening.
- Singapore job postings are
down 11% year-over-year, though volumes between June and July show
growth as a result of the city state's emerging from its 'circuit
breaker' lockdown.
- While the US tech job posting volume within the financial
services industry was relatively flat year-over-year (-5%), the
country managed to gradually close the gap between monthly job
posting levels in 2020 and 2019.
-
- For more US-specific data: Competition Intensifies for Tech
Talent in US Financial Services Market
London's Stability
Illustrated by Ongoing Demand for Roles & Flat Decline
The UK's stability is best represented by London, which was virtually flat (-2%) in 2020
compared to 2019. London showed
impressive stability in uncertain times while also posting over 57%
of overall tech job postings from financial services
organisations.
The ongoing strong demand for technologists in London comes despite suggestions that banks
would recruit more heavily outside the city to cut costs.
UK City by 2020
Job Posting Volume
|
2020
Rank
|
City
|
1
|
London
|
2
|
Glasgow
|
3
|
Edinburgh
|
4
|
Belfast
|
5
|
Manchester
|
6
|
Birmingham
|
7
|
Bristol
|
8
|
Bournemouth
|
9
|
Leeds
|
10
|
Swindon
|
Desired Occupations & Skills Speak to Upcoming
Competition for Talent
In the UK, the overall top occupations include software engineer,
data analyst, business analyst and project manager, a possible
indicator that firms are refocusing efforts on new projects to
capitalise on the market and address shifting industry needs.
"Among financial institutions in the U.K., some of the fastest
growing skills are related to development, data, security and
infrastructure. Employers don't appear to be in a defensive mode;
they're actively courting technologists to innovate ahead their
competitors. While mainstream skills are still top of mind, an
increase in artificial intelligence and cloud technologies will
likely further encourage an increase in competition for highly
skilled technologists," shared Art
Zeile, CEO of DHI Group, parent company of
eFinancialCareers.
The fastest growing occupation was security management
specialist, reflecting the growing emphasis on data security and
fraud. Software engineer was the number one ranked occupation for
volume and also registered year-over-year growth of 8%.
UK Occupations by
Job Posting Growth
|
Rank
|
Occupation
|
YoY
Growth
|
1
|
Security Management
Specialist
|
24%
|
2
|
Software
Engineer
|
8%
|
3
|
Information Security
Engineer
|
1%
|
UK Skills by Job
Posting Growth
|
Rank
|
Skill
|
YoY
Growth
|
1
|
C++
|
85%
|
2
|
TypeScript
|
83%
|
3
|
Microsoft
Azure
|
71%
|
4
|
Kubernetes
|
71%
|
5
|
Artificial
Intelligence
|
54%
|
6
|
Spring
Boot
|
51%
|
7
|
Python
|
45%
|
8
|
Docker
Software
|
42%
|
9
|
Software
Architecture
|
37%
|
10
|
Application
Support
|
34%
|
Top Financial Giants Ranked by Job Posting Volume
The UK's top hiring financial institutions include giants in the
industry: JPMorgan Chase, Citi, HSBC, Barclays and RBS. Deutsche
Bank and Bloomberg both showed significant ranking increases from
2019 to 2020; Deutsche Bank improved its rank by 10, Bloomberg
improved by eight spots.
UK Employer by
2020 Job Posting Volume
|
2020
Rank
|
Change in
Rank
|
Employer
|
1
|
+2
|
JPMorgan
Chase
|
2
|
+3
|
Citi
|
3
|
-2
|
HSBC
|
4
|
-2
|
Barclays
|
5
|
+1
|
Royal Bank of
Scotland
|
6
|
-2
|
Lloyds Banking
Group
|
7
|
+10
|
Deutsche
Bank
|
8
|
+8
|
Bloomberg
|
9
|
+4
|
Visa
|
10
|
-1
|
UBS
|
Read more on eFinancialCareers
Report Methodology
eFinancialCareers' Financial Services Tech Job Report focuses on
the tech hiring activity within the financial services industry and
reviews tech job posting volumes from the US, UK and Singapore (via Burning Glass Technologies). To
add clarity, insurance organisations and professional services
organisations such as the "Big 4" were removed. The data covers two
primary datasets:
- Comparisons between January 1st –
July 31st of 2020 and 2019 in the US,
UK and Singapore
- Deep dives into the fastest growing locations, employers,
occupations, and skills
Download The eFinancialCareers' Financial Services
Report
- Download the report
- Press: Email efcmedia@efinancialcareers.com for an
ungated copy of the full report
About eFinancialCareers
eFinancialCareers, a DHI Group, Inc. brand, is the world's leading
financial services careers website, and the place to go for
financial careers and talent. eFinancialCareers provides finance
and tech professionals with the latest job opportunities, career
information and invaluable industry insights they need to maximise
their potential. The site connects them to roles within many of the
world's most respected financial organisations. Through its
recruitment solutions, eFinancialCareers provides financial
services recruiters a vital competitive edge by enabling them to
source the highly qualified professionals they need to achieve
their strategic ambitions - quickly and efficiently.
eFinancialCareers offers local websites in 19 markets across
North America, Europe, Asia-Pacific, and the financial centres of the
Middle East.
About DHI Group, Inc.
DHI Group, Inc (NYSE: DHX) is a provider of software products,
online tools and services to deliver career marketplaces to
candidates and employers globally. DHI's three brands—Dice,
ClearanceJobs and eFinancialCareers— enable recruiters and hiring
managers to efficiently search, match and connect with highly
skilled technologists in specialised fields, particularly
technology, those with active government security clearances and in
financial services. Professionals find ideal employment
opportunities, relevant job advice and personalised data to best
manage their whole technologist life. For nearly 30 years, we have
leveraged the latest technology to foster career connections in
multiple markets including North
America, Europe, the
Middle East and the Asia Pacific region. Find out more at
www.dhigroupinc.com.
Media Contact
Kristianna Sanders
efcmedia@efinancialcareers.com
1 (303) 562-0337
Logo -
https://mma.prnewswire.com/media/1167308/eFinancialCareers_Logo.jpg