IT blog: A love affair for IT finance jobs

Back in December 2009 The IT Job Board predicted that wedding bells would be ringing for IT recruitment and the financial sector in 2010 following the results of a survey that revealed this sector as the perfect match for IT jobs.

At the start of the year there were anecdotal rumblings that this was set to be a reality and that the rumoured love affair between the financial sector and IT jobs would go the distance. Was it just a fling? We wanted to discover if our attempt at matchmaking paid off.

Making Up

An article published in the Financial Times last week reported a 60% increase in job vacancies in the square mile. A recent report by KPMG and the Recruitment and Employment Council (REC) also reported strong jobs growth across the board. But what about IT finance jobs?

Valentine’s Day marked the Q1 half way line so now that the roses have wilted and chocolates eaten, has the love affair between IT jobs and the financial sector also had it’s day?

Kyle Halsey of specialist IT recruitment consultancy Madison Black reported that ‘things are looking much better, particularly in this sector. But although there is a lot more interest and commitment, most of it is speculative with clients carefully considering where to increase headcount in Q2.’

So did we come on too strong with our predictions or were we right to announce a match made in heaven?

Taking things slowly

Halsey went on to explain that ‘the year got off to a slow start due to extended Christmas breaks and the snow. February is already much busier than January with contracts on the increase. Permanent IT jobs still make up the vast majority.’

So what’s the reality for finance?

A match made in heaven?

But when it comes to marrying the financial sector and IT recruitment Halsey is the eternal optimist:

‘Most companies’ budgets were renewed in January and some are waiting until April/May. Organisations are slowly releasing more budget and contractor rates are returning to what they were. The banking and financial sector has not exploded as yet but it is looking positive for later in the year, probably Q2 or Q3. The roles that are currently available in this sector are very specific and employers are still very cautious.’

How to woo your sweetheart

However, IT finance jobs are much better paid and there appears to be a lot of rivals competing to win the hearts of your potential employer. Halsey had this advice:

‘Don’t forget to look at the relevancy of the company, skills and role in general and match them as well as you can. If you have experience in banking and finance and you are going for a job in this sector, make sure you shout about it.
If you have worked in another sector, such as insurance, there may be similarities that you can draw upon. This could include policies & procedures, methodology frameworks, processes and structures and certain technologies associated with this sector in particular.’

Sparks will fly

In short the finance and IT recruitment industry may not be soul mates but the relationship will definitely hot up later in the year.

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