The picture is one of selective demand rather than broad expansion. The wider labour market is described as 'low hire, low fire', with weaker recruitment but only slight increases in redundancies, and vacancies have dropped below pre-pandemic levels the Low Pay Commission's 2025 report. That slowdown is visible across the economy: total estimated vacancies were down by 76,000 (9.5%) in December 2025 to February 2026 from a year earlier, decreasing in 15 of the 18 industry sectors the ONS vacancies bulletin for March 2026.
There are early signs of steadier ground, though. Permanent placements have finally stabilised, ending a decline in place since Liz Truss's premiership 45 months ago, while temporary billings increased for a fourth consecutive month the REC and KPMG Report on Jobs. For finance leaders, that mix of a cooler overall market and firming placements is the backdrop to every hiring decision today.
Demand in financial services sits firmly at the senior, qualified end. In the sector, recruitment was generally for Regulatory Qualification Framework (RQF) 6+ roles, rather than RQF 3-5 the GOV.UK Temporary Shortage List Stage 2 report. In plain terms, RQF 6+ maps to degree-level and professional qualifications, so firms are hiring for capability and judgement, not entry-level headcount.
That dynamic matters. When demand clusters around highly qualified specialists while overall vacancies ease the ONS vacancies bulletin for March 2026, the people you want are a smaller, more contested group. Speed and precision in reaching them count for more than ever.
Start by defining capability precisely. Because hiring skews to RQF 6+ roles the GOV.UK Temporary Shortage List Stage 2 report, write briefs around the regulated qualifications, judgement and track record the role genuinely needs, then separate the must-haves from the nice-to-haves so you can move quickly on the right people.
The common thread is pace with rigour. In a market where the right person is scarce, a slow process loses them to someone faster.
This is where we help. We search 15 million candidates to surface the qualified finance specialists your brief describes, and we rank a shortlist in under 30 seconds so you can move while the best people are still available. Our recruitment agent manages recruitment end to end for 8% on a successful hire, with no monthly fee and no upfront cost. If you are hiring for capability in financial services, start your search with us today.
