The number of City of London jobs increased by 2 per cent month-on-month in August to 7,410 vacancies, according to London Employment Monitor research conducted by recruiter Morgan McKinley.

The number of City of London jobs increased by 2 per cent month-on-month in August to 7,410 vacancies, according to London Employment Monitor research conducted by recruiter Morgan McKinley.

Although the firm did not break down how this data affects wealth management, the statistics are broadly indicative of the financial jobs market in the City.

Hakan Enver, operations director at Morgan McKinley Financial Services, said that the positive trend in hiring across the City paints a rosy picture as the capital carries on strengthening.

“According to a survey of 200,000 people worldwide by Boston Consulting Group, London is officially the most desirable city in the world to work. With the economy outperforming other European member states, this has led to London reaching a new peak in job opportunities within the financial services sector,” said Enver.

Meanwhile, the number of job seekers entering the hiring market rose 1 percentage point month-on-month to 8,945 in October.

At the same time, the number of professionals pursuing new roles registered a 4 per cent fall year-on-year, from 9,236 in October 2013 to 8,495 in October 2014.

“On the job seeking front, numbers have remained steady, with last month reporting a slight increase of 1 per cent compared to September 2014. October is typically a time when many professionals question their intention to move to another organisation, particularly if they run the risk of walking away from a full year’s bonus. Despite the timing, many businesses will be prepared to offer some form of full year prorated guarantee to entice new talent on board.”

The average salary increase for those securing new jobs in October 2014 was 18 per cent, compared to 19 per cent in September 2014.