Recruiter - IT Recruitment

There has been a drop in the number of new IT openings according to new research.
The research made available by ReThink Recruitment, an IT recruitment firm, has shown that the number of IT vacancies at IT firms has dropped by 18% in the last year and from 16,185 to 13,351 in the last three months. Banks appear to be tightening their IT budgets at the credit crunch bites.
As it stands investment banks are responsible for posting 37% of all IT vacancies. This contrasts with 61% in 2007. Retail banks on the other hand are now posting twice as many vacancies for the finance sector in the past year with a jump from 12% to 26%. Hedge funds now account for more IT openings than conventional fund managers.
Jon Butterfield, managing director, ReThink Recruitment, had this to say: “Investment banks are freezing IT spending in some areas, as they scale back their expansion plans. Growth in demand elsewhere, however, such as compliance and risk management, in response to the credit crunch and the Société Générale scandal, is providing some ballast to the market.” “Demand for IT skills in the finance sector is still significantly greater now than 12 months ago, so we should take some comfort from that. Retail banks, in particular, are investing heavily in e-banking and bolstering internal systems to combat online fraud. A lot of work is going on to try and speed up the processes needed to achieve compliance with money laundering regulations.” * - From Recruiter