British industry should be grateful to the current banking crisis as it can significantly increase the allure of engineering as well as manufacturing jobs.
According to SThree, specializing in STEM areas of science, engineering, maths and technology, financial services should be blamed for a catastrophic skills shortage at industrial businesses because this sector is attractive for graduates boasting well-remunerated employment packages. The recent survey of 402 businesses carried out by the UK arm of General Electric states that approximately two-thirds of respondents aren’t able to succeed with hiring a sufficient number of engineers and technicians. By the way last month the UK boss of BAE Systems also warned of a drastic skills shortage.
Russell Clements, SThree’s chief executive emphasizes that it’s very difficult for industrial companies to fight the City because engineering companies are less attractive than financial institutions while Germany demonstrates the opposite tendency.
SThree’s recruitment sectors, including energy, engineering, pharmaceuticals, aerospace, biotechnology and automotive will definitely benefit from banks’ troubles. For example, specialists employed by SThree will be able to earn up to £56,000 per year while specialties may include both mechanical and nuclear engineers, project managers and IT specialists.
Aside from that SThree has just unveiled its 9% increase in profits. To put that another way for six months the company managed to earn £278.4m while its pre-tax profits fell 16.9% due to the recent investment into an international expansion.