Having “London” on a CV is great for future work opportunities. Employment is very competitive in the UK capital so securing a job and progressing through hard work and promotion will definitely result in substantial rewards. This is especially true in the finance sector.
The financial services industry in the UK makes up a major portion of the economy, nearly 5.5% of the Gross Domestic Product (GDP), and employs more than one million people. The majority of the financial services industry in the UK is located in London and for good reason. The capital has long been an important trade and financial centre and, with its geographical position between New York in the west and Asia in the east, it is uniquely situated to play a role as a global financial centre.
The prevalence of the English language, a resilient economy and a legal and political foundation that encourages international trade at high levels all combine to make London an ideal location to work in finance.
1. Big companies.
Rated one of the best cities in Europe in which to locate a financial, banking or insurance business, almost all of the largest international banks and brokerage houses have established a presence in the City. Some of the major finance names located in London include Accenture, Ernst & Young, Goldman Sachs and PricewaterhouseCoopers.
Recruitment firms of the calibre of Randstad Financial and Professional also have an interest in placing talented staff in the right positions in the City, which means that access to advice, guidance and job opportunities is a reality for professionals seeking their next situation.
2. Global pinnacle of finance.
Ranking higher than New York City, London is considered the global financial centre. Home to a wide variety of international finance firms, banks and finance-oriented businesses, the City possesses an enormous concentration of resources and talent in a very small, centralised location. Conveniently located between New York and the East Coast of the U.S. and the fast-growing financial centres of the East, London is poised to remain at the pinnacle of global finance for many years to come.
3. Lots of business.
With the large number of financial institutions and banks comes the accompanying volume of capital available for businesses. Many businesses - including startups - have either relocated to London or launched in recent years or have opened up branches in and around the City. Their relocation means an increase in activity among the banks, accountancy firms and insurance firms as they service this influx.
Though hit by the global recession like every other major financial centre, London continues to have the largest pool of banking and finance talent in the world. Many investment banks that fell on harder times in the past few years have recovered and are hiring at a fantastic rate, with large firms striving to refill their banking teams and restock their trading floors.
It may sound like another opportunity to produce reams of red tape, but the changes afoot in the City in response to legislation from parliament that's designed to provide a more robust regulatory framework means major institutions are looking to expand their teams.