2022 was a record year for recruitment in the UK financial sector.

According to a report by recruitment consultancy Morgan McKinley and market data analysts Vacancysoft, there were over 87,000 new vacancies in the sector across England and Wales – a 27.6 per cent year-over-year increase from 2021.

Unsurprisingly, London topped the table in terms of pure quantity with the capital making up more than half the total. In total, over 45,000 jobs in the financial sector were hired for in 2022, up 27.4 per cent YoY. The South East was second, with 11,000 new financial jobs – up 41 per cent.

But while the overall financial sector was hiring, FinTech vacancies dropped throughout the year. The first quarter of the year outpaced 2021, but vacancies fell in the second half of the year.

The most in-demand roles within FinTech were IT professionals, though the number of postings was down by 9.3 per cent YoY. Vacancies for Bankers experienced the fastest year-on-year growth, up 19.8 per cent.

The report also highlights the continued growth of Revolut, which experienced a rise of 71.1 per cent for job listings. The FinTech unicorn experienced the fastest yearly rise among top FinTechs.

Hakan Enver, managing director, Morgan McKinley said: "Firms will need the right support and reassurance from the Government to provide confidence in what is likely to be an uncertain year. The Government must take action to solidify the UK's competitive advantage and inject investment into both London and the rest of the UK by increasing trade deals, simplifying tax and investing in technology innovation".

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