City firms prepared to pay top dollar for data expertise

The UK may be gripped by Brexit uncertainty but one thing is for sure, those with skills in data science, cybersecurity and technology will continue to be in high demand, with City firms going on a mass hiring spree – and willing to pay big money – as they gear up for GDPR and the launch of open banking.
So says top City recruitment agency Hays London City, which claims that more than two-thirds of financial services firms plan to recruit staff over the next 12 months, with the majority planning to bring permanent personnel on board.
The recruitment giant claims that high demand for staff has driven double-digit salary growth for new hires in the capital, as firms battle it out to attract the best talent, with salaries likely to keep on rising as competition hots up.
The average advertised City salary increased by 10.3% in the year to October to reach £57,536, far outstripping pay outside London, according to data from jobs site Adzuna.
Hays London City managing director Mark Staniland said: “It’s promising that despite market uncertainty, financial organisations are continuing to hire as regulatory changes come into play and digital advancements are creating the need for organisations to constantly adapt and remain up-to-date.”
He added: “Persistent skills shortages have the potential to limit productivity, growth and innovation – all of which could harm the City’s ability to remain competitive on a global scale.”