Ryan FowlerThe latest figures from Morgan McKinley’s 2025 London Employment Monitor show that job openings across the capital’s financial services sector rose by 2% in Q3 2025 compared with the previous quarter and 9% year-on-year, indicating a market that remains resilient despite seasonal and economic challenges.
Mark Astbury, director at Morgan McKinley, said: “Our latest London Employment Monitor shows vacancies rose by 2% in Q3 2025 compared with the previous quarter.
“While the quarterly rise is modest, the more striking figure is the 9% year-on-year growth, clear evidence that London’s jobs market remains on an upward trajectory despite the ongoing impact of AI.”
He added that the increase followed a sharp dip in Q2, when uncertainty around potential US tariffs caused many firms to pause hiring.
“Typically, recruitment slows over the summer months, but this year’s rebound reflects a catch-up effect as employers resumed previously delayed hiring plans.
“With the upcoming UK Budget in November, many firms are still cautious, assessing whether new fiscal measures could affect workforce planning. In most cases, decisions are being delayed rather than withdrawn.”
Astbury said structural changes were continuing to reshape the employment landscape, with junior roles being near-shored to hubs such as Belfast and Glasgow while automation reduced reliance on administrative staff in industries such as insurance.
“This has slowed graduate hiring, as many entry-level tasks are now automated or centralised. London continues to command the lion’s share of senior and strategic roles, particularly in technology leadership, corporate finance and AI strategy. We are seeing demand towards higher-value positions in audit, tax and IT management: functions that are critical as firms adapt to regulatory and digital change.”
He added that sector data highlighted this shift. “FinTech is booming, with 6,425 roles posted year-to-date, surpassing last year’s total underpinned by the five-year funding cycle and the race to commercialise AI platforms.
“Banking and consumer finance firms continue to consolidate with vacancies trending down as cost pressures mount. Yet even here, operations hiring is up, reflecting the need to shore up back-office capacity in response to complexity around tariffs, automation and compliance.”
Astbury said the wider outlook was positive, with major US investment expected to boost the market. “Looking more broadly, major US investment through the £150 bn US–UK Tech Prosperity Deal will inject momentum into the digital economy.
“London stands to benefit most as the UK’s financial and innovation hub, funnelling capital, talent and expertise into the wider economy.”
He concluded: “In short, the UK hiring market is showing growth, not retreating. Firms may be pausing to take stock, but the trajectory remains upward, with London firmly at the centre of Britain’s next phase of digital and financial growth. Much now depends on the Autumn Budget and whether it reassures employers or adds further cost pressures that will set the tone for hiring into early 2026.”
