Finance jobs in the UK are still attracting high salaries, despite the worldwide economic downturn, new figures have revealed.

According to new statistics from the Center for Economics and Business Research (CEBR), workers in the city of London are still receiving large pay packets, as wages are increased to account for falling bonuses.

CEBR estimates overall salaries for employees working within the finance sector in the UK are now some seven per cent better off than they were 12 months ago.

Scott Corfe, CEBR economist and co-author of the new research, explained: "City workers are not earning less - their earnings are merely becoming less bonus-driven as basic pay continues to grow much faster than other parts of the economy."

However, in comparison, annual bonuses paid out for those working in finance jobs in the UK are down by 36 per cent from their peak in 2006.

Meanwhile, the Office for National Statistics recently reported the British unemployment rate rose by 0.2 per cent to 70.7 per cent in the three months to February 2011.

Posted by Alex Donnell