With professionals leaving the banking sector, demand for jobs has pushed average middle office salaries in energy up to almost £90,000 and base salaries for senior positions to £380,000.

Asset backed utilities have reported a surge in profits for the year which has opened up the sector to new recruits, allowing companies to take advantage of the fallout from the financial crisis.

“The pay gap between utilities and banks has closed significantly,” says Ken Brotherston, chief executive of GRS.