City bonuses to double, but one in six still plan to move jobs

Dec 21 2004 by Nic Paton Print This Article

Champagne corks are set to be popping in City, with one in five workers in the Square Mile expecting bonuses to be at least double those of last year.

But the poll by City recruitment consultancy Morgan McKinley suggests, despite the bulging wallets, there will be little sense of gratitude come bonus time.

More than half of those polled – 57 per cent – said they had been unhappy with their 2003 bonus, and six out of ten said they planned to seek a new job once their bonus had been paid.

New jobs being advertised rose by 19 per cent in November, as employers begin to look to fill positions during 2005, said Morgan McKinley.

But chairman Ken Brotherston warned employers against fearing there were going to be a flood of resignations come the New Year.

“Although many workers rank getting a new job high on their New Year’s resolution list, career decisions involve much more complex factors than pure financial considerations.

“Consequently, although we have seen a normal seasonal increase in candidate numbers, we would be surprised if this turned into a flood come the end of bonus season,” he said.