Bruin Financial Services Career 2010/2011 Survey

Bruin Financial Services Career 2010/2011 Survey

BRUIN Financial’s annual survey of London’s financial services professionals on their motivations behind changing jobs shows dramatic changes in this year’s results.

The 2011 Survey gives a genuine insight into what makes the City tick, its confidence

and its concerns.

Highlights

Understandably, the major change is the clear concern over job security due to uncertainty in the markets. In Q4 2010, security was not a significant driver in seeking a move, whereas in Q4 2011, it is the most influential factor for 51% of those surveyed.

The second biggest shift was in last year’s main factor, career progression, taking a back seat to job security with a drop of 34%. However, this expected fall doesn’t tell the whole story with advancement still crucial to a quarter of respondents, indicating a confidence that good opportunities to progress do exist.

The choice of who to work for has doubled in importance year-on-year, with more value seen in a good company name and brand, underlining the search for security.

BRUIN Financial’s Chief Executive Robert Thesiger says, “This is clearly as a result of the impact of the ongoing global financial crisis. Individuals are now more wary of brand perception within the market. Work/life balance and company culture have taken a dip, showing that candidates have more fundamental concerns on their minds, but more interestingly, so has compensation.

In our view, the emphasis on job security and career progression within Financial

Services is a clear sign that the impact of the global financial crisis has materially

changed the way the City should be perceived externally. High risk, high return

strategies have been replaced by a more structured and thoughtful approach to career aspirations and plans.”

51% Job security the overriding factor

24% See career progression as viable

x2 Company brand twice as important

What are the main factors that influence you in your choice of changing jobs?

Motivation Oct 2010 Oct 2011 YoY

Compensation 11% 8% -3%

Career progression 58% 24% -34%

Culture 11% 2% -9%

Work/Life balance 5% 3% -2%

Brand name 4% 8% +4%

Job security 8% 51% +43%

Location 3% 4% +1%

706 financial services professionals responded to our 2010 survey, 77% of them responded in 2011.