It will come as little surprise that the biggest decliners were the banks, actually showing a decrease in MBA recruiting activity. The slack being taken up by technology and the new media sector (companies such as Facebook, Google and Amazon have surged in popularity for MBA students). There was also a notable pickup in overseas demand from countries such as China, who’s population lacks managerial talent.

The stats will bring a welcomed morale boost to MBA programs,  having seen enrolments decline the wake of the financial crisis.

Investment Banks were notable decliners, hit hard by the euro zone debt crisis – average salaries for senior bankers, fund managers and analysts fell to £78,003 in March (and over the last year these salaries have increased at almost half the rate of inflation).

But it’s a mixed picture – despite the above, related job vacancies did increase by 4% from January to March compared with the same period in 2011. Morgan McKinley’s Evan’s noted that “Any positive sentiment tends to be immediately cancelled out by some form of negative market commentary. We are genuinely working in a confused and uncertain market,”

So what does this mean for jobseekers?

While Financial Services remains an attractive career choice for many, the profitability of these institutions (and resultant employee pay) remains suppressed by economic uncertainty and regulation; it is unlikely we will see a return to the 2007-08 peak for sometime.

Seekers should always keep a backup industry in mind when considering a career in Financial Services.