U.K. recruitment firm Joslin Rowe released a notice this week of what it is calling a "recruitment timebomb" for MiFID consultants. With just nine months to go before EU financial institutions are expected to be compliant with the Markets in Financial Instruments Directive, demand is soaring for experts who can help firms reach compliance.Joslin Rowe has seen a 20 percent increase in the number of temporary compliance jobs focusing on MiFID in the last two months, reports Michelle Myers of Joslin Rowe, in a release. "It's becoming a hotbed of compliance recruitment across the temporary market as financial institutions scramble to get the right people on board immediately. As a consequence, multiple compliance job offers are becoming commonplace and contract rates are rocketing."
The recruiter estimates that MiFID alone will create as many as 1,200 temporary jobs in London. Even permanent employees are taking on temporary contracts to cash in on the exorbitant wages, which run about $1,300 to $1,500 per day.
So what of it? Any MiFID-savvy readers out there considering taking on a temporary consulting gig? Would any of you U.S.-based experts be willing to hop across the pond for a year or so to pad your savings? Leave your thoughts in the Comments section.