According to the Centre for Economics and Business Research, UK’s economy has managed to remain robust therefore London’s growing financial district will create more new jobs in 2007 than previously expected.
The job growth in the City of London financial centre that has driven employment to record highs in 2006 is showing signs of cooling off though.
Major investment banks have been hiring steadily in 2006 to take advantage of a surge in M&A and corporate finance activity, plus booming stock and bond markets.
Thanks partly to increasing regulatory demands on financial firms, recruitment could pick up again in 2009, with professional services staff most in demand. CEBR forecast total City of London jobs in 2009 at 336,100, roughly level with 2006s record total.
And even though cross-border mergers and flotations are forecast to continue at a rapid rate, CEBR expects the number of corporate finance jobs to be about 13,500 in 2009, close to current levels.
An official report by internationally renowned management consultants McKinsey has said New York is losing its place to London as the world’s leading financial centre.
Last year, 419 international companies were listed on the London Stock Exchange compared to just 174 in New York.
And this translates into jobs with London’s financial companies taking on more than 12,000 extra people in the last three years.
318,000 people are employed in London’s financial district, while 328,000 employed in NY financial district.
Ian Barlow, a senior partner at accountancy firm KPMG and chairman of Think London, aims to encourage overseas firms to set up in London: “We know that London is a great financial centre.’
“We constantly promote London as a place where the world’s companies can and should do business and we say that every overseas firm, wherever they are based, should set up in London as well.”
So you have graduated from University and are about to embark out into the daunting world of work… Perhaps you have been lucky enough to have gained valuable work experience whilst completing your studies and in which case, your chances of finding a good role in a sea of graduates increase. No matter how much experience you have had, it is vital to apply to jobs whose person specifications you fulfil and most importantly, careers which you are interested in. A helpful idea can be to visit your University’s careers centre to help you create a strong CV and decide upon which career paths you may like to explore. Rarely do graduates have a firm idea about what they want to do and most of the time, people have two or three different careers they may be interested in. For those with more broad ideas, a University’s employability or careers department can help to focus a graduate’s ideas into one or two main paths. For a convenient and informative way of finding a job in the capital, a good idea is to contact recruitment agencies. London agencies are varied, with particular agencies focusing on law, sales, marketing or PR jobs. Approach an agency that is relevant to your intended career choices as they will be best placed to offer you the best roles in both blue chip and smaller organisations. Many successful recruitment agencies will ask you to complete assessment processes such as mock interviews or team-work sessions. These will help to ascertain whether you will be the right candidate for a chosen career path. Before attending such sessions, make sure that you have smart attire, have researched your prospective job area and most importantly, try not to worry as you want to exude an air of confidence. If you are applying for London jobs directly via a company’s website, make sure that you write a tailored covering letter, highlighting your strengths and back them up with real life situations where you have used your skills. Don’t forget to include why you are applying for the job and demonstrate an interest in the company and its industry field. Again, with direct applications that are form based, remember to include examples of your skills with every question and check that all your spelling and grammar is correct. Companies employing graduates look for passion, drive and common sense, so make sure to demonstrate these attributes in any application. London is a competitive job market and as such, it is important to try and set yourself apart from the bevy of newly suited and booted graduates. Don’t be disheartened if you don’t get the first job you go for – in fact many people apply for several jobs and go for a number of interviews before being offered their dream job. Perseverance and drive are the key to being successful in finding a London job.
In spite of the UK’s emergence from recession lagging behind the rest of Europe, London is still an international business powerhouse. According to the Office of National Statistics (ONS), the financial services centre drives more than £200bn of revenue into the UK economy each year.
Although central London is booming with business activity, parts of the city are still struggling. Contrary to popular belief London’s streets aren’t paved with gold. The truth is – they sparkle with opportunity. The challenge for someone walking down hope street is understanding how to make the most of their potential in the current climate.
Chantél du Plooy takes a look at the capital’s prospects for jobs, housing and economic growth.
Looking ahead
The Mayor of London, Boris Johnson, has been given the task to produce a planning strategy for the capital. The second draft of the strategy, called the London Plan, is currently open to public consultation.
In the foreword of the London Plan, the Mayor makes his aim for the city’s future perfectly clear: “I want London to be the best big city on earth.
”That means a place that brims with opportunity and talent and economic activity of all kinds, but also one where the pace of life can suddenly slow from one street to the next; where children can grow up in safety – where people can be seen walking or cycling with no purpose other than enjoyment.”
London’s future encompasses five elements: becoming the world’s capital of business, improving competitiveness, developing into a low carbon economy, extending Londoners’ opportunity and investing in the capital’s potential.
Through these five strategies, previously disadvantaged areas will become key focus points.
In East London alone, 333,800 homes will be built by 2031. In North East London, Harrow and Wealdstone will receive significant support in areas such as retail, industrial and housing developments.
Although the increase in housing will impact jobs in London there is a need for drastic job creation. The Mayor plans to tackle unemployment in the capital through combating skill shortages. He will address low skills through encouraging effective education, training and support for all.
Business confidence
The latest ONS figures unveiled that the UK GDP shrank by 0.4% in the third quarter. Even though we didn’t need any confirmation, we now know that we are in the longest recession since 1955.
But there is also good news for London. It was recently crowned the best city in Europe to locate a business. The European Cities Monitor report from Cushman & Wakefield has awarded London with this honour for the 20th consecutive year.
UK Minister for Trade, Investment and Small Business, Lord Davies of Abersoch commented: “Since the collapse of Lehman Brothers just over a year ago, London has been through a pretty turbulent time. This year’s survey, however, is evidence that it has not lost its position as Europe’s and probably the world’s leading business and financial centre.
”Major corporates clearly still recognise that its critical mass of talent, facilities and infrastructure combine to deliver a compelling location for business.”
London is home to more than 30% of the world’s largest companies. The investment of over 500 foreign corporations like Coca-Cola, Canon and Virgin has created more than 11,000 London jobs between April 2008 and March 2009.
Regardless of the downturn in the current economy, business leaders in London remain positive. A recent report from London Chamber of Commerce and Industry (LCCI) revealed that more than half (52%) of 185 London firms are confident about the city’s future.
”Businesses in the capital are increasingly confident about their own firm’s prospects and that of the wider economy,” LCCI chief executive Colin Stanbridge told BBC News.
The perfect host
London has already plunged deep into its pockets to get the capital ready for the 2012 Olympics and Paralympics Games. The event has created numerous jobs, infrastructure and business opportunities.
An international event of this magnitude creates an occasion for London to promote itself as a tourism, sport and leisure attraction; as well as an economic and business hub.
If the Olympic Games prove to be the billion pound success organisers expect, the capital might transform much quicker than anticipated.
It’s clear that while London is suffering, the Mayor isn’t sitting around helpless. Through proactive strategies and the help of Londoners, Britain’s capital will prosper.
Chantel is a regular contributor of career advice and jobs news for leading UK Job Board http://www.careersandjobsuk.com Link text
London is a crowded city with a constant need for high calibre plumbers. London property owners want their homes to be as modern and efficient as possible, meaning London plumbers have a constant workload of new toilets, laundry goods, upgraded central heating systems and en suite bathrooms on their books. Then there are the routine jobs and emergencies that householders can’t cope with themselves; anything from leaky tap washers to burst pipes. London homes often rely on antiquated drainage systems located under mature gardens, meaning drain collapse due to intruding tree roots or heavy rainfall is common. Here are some of the things a plumber in London might have to tackle during his working week: 1. Drainage. Anything from routine maintenance to emergency blockages – drainage is a major part of the job for plumbers in London. Jobs include pressure jetting of sewers and outdoor drains, removing toilet and sink blockages, and replacing waste pipes in baths.Drainage covers manholes, gutters and downpipes as well as interior waste pipes, and extends to CCTV checks and pumping out flood water. 2. Kitchens and bathrooms. Whether it’s installing new bathroom fittings or plumbing in a washing machine, these are the rooms in the house that London plumbers see the most. Work may include installing new bathrooms, repairing leaks, adjusting water and shower pressures, putting in new toilets or plumbing in dishwashers. Another common job is removing electric garbage disposal units (considered very non-PC in this day and age!) 3. Central heating and air conditioning. While the average plumber in London can easily bleed and replace radiators, repair leaks etc, the best ones hold the “Gas Safe” engineer certificate. This proves their ability to safely fit and maintain boilers and central heating systems. We at Just Plumbing have experienced, fully qualified “Gas Safe” London plumbers, located throughout Kent and the capital.
London is a crowded city with a constant need for high calibre plumbers. London property owners want their homes to be as modern and efficient as possible, meaning London plumbers have a constant workload of new toilets, laundry goods, upgraded central heating systems and en suite bathrooms on their books.
Then there are the routine jobs and emergencies that householders can’t cope with themselves; anything from leaky tap washers to burst pipes. London homes often rely on antiquated drainage systems located under mature gardens, meaning drain collapse due to intruding tree roots or heavy rainfall is common.
Here are some of the things a plumber in London might have to tackle during his working week:
1. Drainage. Anything from routine maintenance to emergency blockages – drainage is a major part of the job for plumbers in London. Jobs include pressure jetting of sewers and outdoor drains, removing toilet and sink blockages, and replacing waste pipes in baths.Drainage covers manholes, gutters and downpipes as well as interior waste pipes, and extends to CCTV checks and pumping out flood water.
2. Kitchens and bathrooms. Whether it’s installing new bathroom fittings or plumbing in a washing machine, these are the rooms in the house that London plumbers see the most. Work may include installing new bathrooms, repairing leaks, adjusting water and shower pressures, putting in new toilets or plumbing in dishwashers. Another common job is removing electric garbage disposal units (considered very non-PC in this day and age!)
3. Central heating and air conditioning. While the average plumber in London can easily bleed and replace radiators, repair leaks etc, the best ones hold the “Gas Safe” engineer certificate. This proves their ability to safely fit and maintain boilers and central heating systems.
We at Just Plumbing have experienced, fully qualified “Gas Safe” London plumbers, located throughout Kent and the capital.
My own experiences of job-hunting, particularly Essex Job hunting have usually been very difficult for me. Having graduated in 2003, feeling quite proud to have obtained my first degree in English Literature, I was eager to find myself a steady job and thought to myself that it should be very easy to find something in my hometown in Essex – or so I thought.
I knew that Essex jobs paid considerably less than London jobs and therefore I would be more successful in finding a job in Essex than London. I would later find out that this was a very wrong assumption to make. I wanted to be closer to home and kept to my decision to search for Essex jobs only. I decided to revamp my CV, and every day for about an hour, I would surf the internet and apply for jobs in admin, media reception or sales.
Research, research, research!
As well as searching on the net, I would very often buy the local newspaper and respond to adverts in Essex. It was quite stressful and time consuming, as money was very tight for me and found that after a month of applying for what felt like a thousand jobs I received very little in responses. It appeared to me that nearly all of Essex had high standards in recruitment and I had set myself unrealistic objectives!
The responses that I did receive were from dodgy unknown Essex recruitment agencies aiming to help me find a job within the area range that I had requested or letters of rejection claiming they had nothing available with my experiences. I was frustrated, broke and stressed, what made it worse was the recruitment agencies would put false hope into me by promising interviews that never came!
I was lucky enough to be living with my parents so I did not have the added stress of paying rent; however, I was running very low on money and missing out on social occasions. I finally saw an advert from an Essex recruitment agency that did not try to sound like a sales company and had focussed on jobs within Essex. Since other recruitment agencies had let me down with false promises, I reluctantly decided to contact them.
I was at this point desperate and frankly embarrassed that I was still unemployed for now nearing three months. I made an appointment to register and have an informal interview. I arrived for the interview the consultants seemed friendly enough, listening to what I had to say and going through my past work experiences. They were very honest and told me that I would be better suited in a temporary role.
Luck of the draw
Of course, it was not my ambition to become a receptionist or an administrator as a long-term career, but I saw it as a stepping-stone to bigger things. Sure enough, I received a phone call two days after my registration; they had found a receptionist position at my local museum and I would start the following Monday. Perfect I thought, I had finally fulfilled one ambition in finding a job in Essex.
I was pleased by this result and relieved that I will receive my pay weekly. The first month of my employment was great; I was developing on management skills as well as administration, inventory management and learning new computer skills. Not only that I was given the task to organise and run events. I made great contacts with clients and was sent to training days learning new skills.
Six months had passed and I felt it was time to move on, this time I did not approach any Essex recruitment agencies, mainly because I wanted to earn a proper salary. If it was not for my recruitment agency, I would not have found my existing job in media. I think I was lucky to have found a recruitment agency that cared about my needs and specialised in Essex jobs.
Searching for the right job agencies can feel very daunting; as some are more determined to reaching their own targets and appear to be more like sales people than consultants. My advice is to research the agencies before approaching them. It makes your life easier to know what they are about and how they can help.
The museum offered me a permanent position, but by then I had already accepted another job with a company offering me an attractive salary. The experience with working in the museum was invaluable to me and I was forever thankful to the recruitment agency for helping me find the job. Now nearly four years down the line and a few changes to my career, my next challenge is to buy a house in Essex!
My time as a new graduate was one of mixed feelings, one of elation and the other of a desperate need to find myself a paying job and quickly reduce the level of my mounting debts. The trouble with living in Essex is that there are not enough Essex jobs to go around for us poor graduates. The thought of commuting back and forth from London did not appeal to me one bit, but I realised that may be a necessary task considering my options were very limited.
Often, graduates of high calibre will face the prospects of unemployment for a short period before finding something ‘temporary’ to fill the gap of having no money and keeping up with loans repayment. It is true to a certain extent that Essex jobs in comparison to London jobs are far less paid, because of the outer London weighting considerations. London is also the capital and the heart of the UK therefore the opportunities are going to be far more appealing and available.
Although it cannot be denied that there did appear to be far more opportunities with Essex jobs, regardless of the pay scale. All throughout the six months that I was without a job, I had found plenty of opportunities to take up the offers that were being advertised in the newspapers and on the internet. However, if I was to compare these same positions with ones offered in London, I could not help but notice the difference in benefits.
My only solution was to approach a recruitment agency. For graduates out there feeling like there is no hope in the world in finding your dream job, you will have to swallow your pride and resort to something a little less prestigious and start from the bottom. This is not to say that recruitment agencies are bad at finding you good jobs, the big advantage is that you will be found something that will feel like next to no time at all and you will be paid weekly.
Finding a temporary job is a good start to getting your feet onto that coveted career ladder. Very often, you will find that approaching a generic recruitment agency will land you a job in something that is not to your first choice such as warehouse work or office admin jobs. Approaching specialised recruitment agencies within the field that you are keen on moving up with is advisable as then you are likely to find your feet more quickly.
One thing I had to learn was patience. I found that even though I was forwarding what felt like over a hundred CVs a day, revealing my entire life story and personal information to strangers, I was soon to find out that eventually someone would pick up the emails and letters and give me that phone call I desperately needed. Moreover, as I was already based in Essex, all of my interviews were with other Essex jobs who favoured well with candidates who were local.
I finally got a call from a recruitment agency who had found me a junior position in the field that I was after. I did not hesitate to take it up and found myself working the following Monday. It was big relief to finally put some money away into my bank, as it was beginning to prove difficult keeping up with bill payments and debt repayments. Five years on and I have landed a job that uses my skills in writing and has given me scope to freelance should I decide to work from home full-time.
My advice to all graduates is to persevere and keep looking. Try not to be too fussy if you are running short for money, your best solution is to take up something temporary and continue with your search. Some temporary jobs can unfold into a permanent position with good prospects. Other times it is a good way to make quick cash and it will be an advantage to you for when interviews do crop up. Employers prefer to hear that candidates are currently working so as to look like they are using their time productively.
If youâre a company in London, you want highly qualified IT staff and there are a lot of people looking for jobs in the information technology world. If youâre one of those people that has skills and wants a great information technology career, itâs not going to be difficult to find a job. But, you may find the best opportunities when you look at managed services companies instead of corporations looking to fill shoes in their IT departments.
The number of companies hiring IT professionals directly is dwindling, unless that company is a technology company. There are still jobs but in the last several years, the trend of companies employing their own IT department had faded. Â Many companies have plans to move to an outsourced IT department in the near future.
Why is there a trend of companies outsourcing IT support?
More companies than ever now outsource their information technology to other companies. Why is that? Not only is it difficult for companies in trying economic times to justify a full-time staff for IT support and infrastructure but there are many outsourced IT service organisations out there who will provide their own expert staff and at a fraction of the cost of having to run an in-house IT department.
Technology has shifted to being much more user-friendly and a lot of companies are able to do more with fewer resources. Some have a single IT person and only call on an outsourced agency when their needs exceed this and others donât have any IT people in-house at all. Todayâs technology is easier to use, yes, and this makes it more cost effective but service professionals are still necessary — just not necessary to be in the same building and on the payroll.
From a job search perspective, working for a company that handles outsourcing needs presents some great opportunities. You can work on different client projects, work on the road handling service calls, work in a call-center environment doing phone-based support, and best of all, your employer is going to be technology centric and therefore will provide you with the ability to continue to keep yourself marketable with ongoing training education.
One thing many IT service professionals complain of is that the companies they work for work on archaic systems. Itâs not difficult to become stale when you arenât evolving with technology. Working for an IT London company that services dozens of different customers with varied technologies will allow you to specialise and dabble in various areas.
Being skilled in the field of information technology can present you with many awesome career opportunities. And you can have an opportunity to work in many different roles as well. Some of the services offered by IT support companies include: phone-based tech support, maintenance, backup, hardware upgrades, computer repair, network administration, software upgrades, and more. Â Â Continue to build your skills even if you find a job working for a company whose technology only upgrades once every five years. As an educated IT London professional, job opportunities should continue to present themselves to you.
As the capital of England, London is a hub of activity, full of tourist attractions, business headquarters, and consumer paradises. From Selfridges for shopping, to Starbucks for coffee, then on to the Tate for a cultural hit; the place is packed to the brim with people wanting to entertain themselves and businesses in the business of entertaining. With such a wealth of diversity, it is no wonder that many businesses place their flagship stores in the city, or that corporate enterprises choose to have their main offices located in prestigious architectural blocks in London.
All of these factors combine to make the capital a fantastic place to find work. From seasonal staff at a park cafe to a high flying member of the Bank of England, the variety of jobs available is astounding. Many people find themselves in London, on a whim to find employment, to make it big and become a success. Rucksack on back and the number of a place to stay and a heart full of hope and dreams. This highlights the scale of opportunity out there.
The benefits of working in London apply to any city. The rate of pay is higher, although this is often cancelled out in the cost of living. With high paid jobs however, the opportunity to commute to a city based job can reap the rewards of a subsidised pay award whilst avoiding the cost of city living. Another plus point of working in the city is the opportunity for advancement and training within a chosen career and the chance to climb the career ladder.
The social life of city living is legendary, and as is often said, it’s not what you know, it’s who you know; a buzzing social scene leads to those kinds of connections. Living in a small town just doesn’t bring up the opportunities of a random meeting with someone who could change your life by offering a career break that dreams are made of. In the city, a chance meeting at a swanky corporate soiree or a group meal with a friend of a friend can open up networking connections. Learning to network within these circles effectively can lead to being head hunted for your skills.
This is not only advantageous for the exceptionally creative, academically talented or staggeringly well skilled; this is a system that works for anyone with an enthusiasm and a passion for what they do and a desire to succeed. Getting on the ladder first though is the big challenge. You need to meet people to get to know more people. Unless you are relocating within a company, the chances are that you’ll be starting from scratch, maybe even planning a whole new career path and you must make sure that all avenues are exhausted to stay ahead of the competition.
The Job Centre has facilities to check out what work is available in the area and has the advantage that it is possible to look for work in any part of the country from any job centre in the country; ideal if relocation is on the cards. The other option, if you live where you are looking for employment is to register with all the agencies that can be found. They aim to find employment on your behalf that suits your skill base and level of education. They also offer help with CV writing and can suggest certain courses or training to improve your chance of finding employment. While the agency is doing the work for you, it means that you are free to make the most of the city social life and hone your networking skills!
