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Located in the heart of the UK, Leeds boasts a vibrant business landscape and a booming professional services sector. With enticing salaries and a lower cost of living, it’s no wonder that many graduates choose to remain in Leeds rather than move to the capital, and why many qualified and experienced professionals continue to pour in from London in search of new and exciting opportunities.
In this blog, we take a close look at Leeds and you should pursue a career here.
The Ernst & Young Attractiveness Survey 2017 confirmed Leeds’ growing strength in attracting international investment, citing Yorkshire and the Humber as the number one destination for foreign direct investment in the North of England.
Leeds is not only one of the UK’s strongest economies, it also boasts lower living costs, which is why businesses have relocated from the capital, bringing with them a substantial volume of jobs in the process. For example, last year saw the opening of Burberry Business Services in Leeds, with the aim to house over 400 employees by the end of 2018.
As a financial services hub, Leeds is also home to 30 national and international banks, and hosts the headquarters of three of the five largest building societies. According to the Leeds City Council report, over 1,350 digital companies are based in the city, with a combined workforce of around 10,000. The report states that Leeds boasts the highest number of ‘scale up’ digital companies outside the South East and workers in the sector are among the highest paid in the UK.
This substantial cluster boasts particular strengths in banking, legal services, insurance, and financial technologies. Furthermore, according to a recent British Meetings and Events Industry survey, Leeds is ranked as the fifth most popular conferencing city in the UK.
With trains running across the country and nearby motorways available, Leeds is also one of the most easily-accessible areas in Britain. A trip by train from Leeds to London takes commuters just over two hours, running every 15 minutes. The fastest train from Leeds will take you to London King’s Cross in just one hour and fifty-nine minutes. Similarly, trains to Edinburgh take just over two hours and arrive directly at the Scottish capital’s main station. Alternatively, the M62 motorway makes Manchester, Liverpool and Hull all easily commutable.
According to a Leeds City Council report, the local economy is estimated to be worth £21.3 billion per annum, accounting for nearly a third of the Leeds’ total economic output. The city’s economy grew by 34 percent during the last decade, and is forecast to grow by 21 percent over the next 10 years, with financial and business services set to generate more than half of gross value added (GVA) growth over that period.
Leeds is one of the largest business centres in the UK, with approximately 343,000 people employed in the financial, legal, business support and professional sectors in the city, and an estimated output valued at £13 billion per year. This includes over 200 accountancy and 180 legal firms, making Leeds a major professional services hub outside of London.
In terms of income and expenses, working individuals can expect an average salary of £30,208, combined with lower living costs in comparison to London. Research also shows that Leeds underwent a 7.6 percent growth in jobs last year, making it the perfect place to find a new role.
In short, this gem of a city, tucked away in the beautiful Yorkshire Dales, combines a powerhouse economy with a vibrant city life. Leeds is strongly rooted in hard work and steady growth, making it the third largest economy in the UK outside of London, as it continues to grow year upon year, attracting greater investments and opportunities.
Search Consultancy is one of the leading recruitment agencies in Leeds, boasting a wide range of specialisms including Manufacturing, Healthcare, Legal and Accountancy recruitment services. If you’re thinking of making the move to Leeds, and haven’t found a job yet, why not give us a call? Alternatively, you can have a look at our latest vacancies by clicking the button below!