Member Article

Satisfaction of London's young finance professionals lags behind northern compatriots

Jobs satisfaction amongst London’s young finance professionals is lagging behind that of those in the North according to a new survey by the Association of Chartered Certified Accountants (ACCA).

The poll of ACCA’s youngest members and students found that 61% of young people living in major cities in the North are more satisfied in their current role, compared to just 49% of those surveyed who were based in the capital.

Canvassing over 2,000 young professionals under the age of 36, the survey also found that 16% of northern professionals felt there were no barriers to career progression in their current role compared to 12% of Londoners.

John Williams, who is head of ACCA UK, believes the figures undermine the perception that the north significantly lags behind the capital in terms of job opportunities for young people and graduates.

Figures released by Homes in the North back in November revealed that over 310,000 graduates had swapped the North of England for London between 2006 and 2016, with the perceived greater job prospects and higher salaries contributing to a 10-year brain drain.

However, Williams believes the figures could be a serious boon to the Northern Powerhouse as it tries to retain and attract top graduate talent.

He said: “At present, there is still a perception among many young professionals that career opportunities in the northern region are less valuable than opportunities in the south.

“Boosting economic growth in the north of England through initiatives such as the Northern Powerhouse is a key economic strategy for the UK government and improving the attractiveness of the region in terms of career opportunities is crucial if this is to be achieved in the long term.”