The wider hiring picture is cautious, and lenders are feeling it too. The Low Pay Commission describes today's labour market as 'low hire, low fire', with weaker recruitment, only slight rises in redundancies, and vacancies now sitting below pre-pandemic levels Low Pay Commission Report 2025, GOV.UK. In plain terms: employers are holding steady and hiring with more care rather than pulling back sharply.
Yet demand hasn't disappeared, it has moved. The ONS reports that in August to October 2025 the largest volume increase in vacancies came in the professional, scientific and technical activities sector, up by 5,000 ONS – Vacancies and jobs in the UK: November 2025. That is the part of the economy where much financial and quantitative work sits, and it points to where lenders are still competing hardest for people.
The clearest signal is the surge in AI and data skills. Accenture data reported that demand for AI skills rose nearly 200% in a year, with London accounting for 80% of AI-related job postings and nearly two thirds of all technology vacancies in the UK The Register (Accenture data). For lenders, that means roles in fraud detection, credit modelling, risk analytics and automation are all in play.
Core technology talent remains scarce. IT business analysts, architects and systems designers, a group of around 193,000 workers, are among the occupations in critical demand, with three of five indicators flashing critical in 2025 Occupations in demand 2025, Explore Education Statistics, GOV.UK. These are exactly the people who build and maintain the digital platforms banks and lenders now run on.
Cyber security is the third pillar. The UK cyber workforce is around 143,000 people, with growth accelerating from 2% in 2022 to 5% in 2024 Cyber security skills in the UK labour market 2025 - GOV.UK, and 70% of cyber firms reported at least one hard-to-fill vacancy AI Labour Market Survey 2025 (Gardiner & Theobald), GOV.UK / publishing.service.gov.uk. Lenders hold sensitive money and data, so protecting it is a permanent priority. Alongside these, specialist analysts and tech engineers continue to command a premium in a tight market Professionals in IT and Engineering (Migration Advisory Committee), GOV.UK / publishing.service.gov.uk.
The way lenders build junior talent is shifting. Adzuna has seen a 30% drop in UK entry-level job postings since ChatGPT launched, with graduates facing the toughest market since 2018 techUK – What's actually happening with entry-level and graduate jobs?. The tech sector alone cut graduate roles by 46% in a year, with a further 53% fall projected The Register.
At the same time, employers are finding other routes into skilled work. Apprenticeships have grown from 3% of AI hires in 2020 to 19% in 2025 GOV.UK / DSIT – AI Labour Market Survey 2025 report. For lenders, that suggests a rethink: fewer traditional graduate schemes, more targeted apprenticeships and skills-based hiring for the roles that matter most.
Start by being precise about the skills you actually need. With AI, data, enterprise applications and cyber security marked as clear demand hotspots for 2026 Computer Weekly (tech recruitment outlook 2026), vague briefs cost you time. Define the two or three capabilities a role must have, and separate the must-haves from the nice-to-haves before you go to market.
Second, move quickly. In a market where the strongest specialists get multiple offers, a slow process loses good people. Third, widen your net beyond the obvious pool: consider apprenticeships and skills-first hiring for junior roles, given how sharply graduate routes have tightened techUK – What's actually happening with entry-level and graduate jobs?. And fourth, recognise that talent is concentrated: with London holding the lion's share of AI postings The Register (Accenture data), you may need remote or regional strategies to reach the people you want.
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