london fs salary survey final
TRANSCRIPT
-
7/31/2019 London Fs Salary Survey Final
1/51
-
7/31/2019 London Fs Salary Survey Final
2/51
CONTENTS.
CHIEF OPERATIONS OFFICERS LETTER 2
KEY SURVEY RESULTS 3
SALARY GUIDE 7
ACCOUNTING & FINANCE 8ASSET MANAGEMENT & PRIVATE BANKINGBANKINGINSURANCE
AUDIT 15BANKING
CHANGE & PROJECT MANAGEMENT 16BANKING FINANCEBANKING OPERATIONSBANKING RISK
COMPLIANCE 22
CREDIT, RISK & QUANTITATIVE FINANCE 24
FRONT OFFICE 26ASSET MANAGEMENTCORPORATE FINANCE, M&AHEDGE FUNDSPRIVATE BANKING
HUMAN RESOURCES 31
INSURANCE 33ACTUARIALTECHNICAL
MIDDLE OFFICE & OPERATIONS 35
ASSET MANAGEMENT & PRIVATE BANKING
INVESTMENT BANKING & BROKERAGE HOUSES
COMMODITIES
SALES & MARKETING 41
SECRETARIAL & SUPPORT 43
TAXATION 45
TECHNOLOGY 47
UNDERSTANDING THIS GUIDE 49
TALK TO US 50
CLICK ON THE HYPERLINKS TO GO TO PAGE
-
7/31/2019 London Fs Salary Survey Final
3/51
Clearly the financial services markets haveendured a turbulent couple of years. We all hopethat the worst of this is behind us and the market isfinally returning to some form of normality. However,some of the knock-on effects continue, with themarket still lacking visibility of business activitylevels, resulting in a degree of uncertainty filteringthrough to the hiring market. Combining this with a
number of ongoing global economic issues, theemployment market and therefore salaries havecontinued to fluctuate.
To provide a clearer picture for you, the job seekerand our clients, we have carried out extensiveresearch across the London financial servicesmarket into current salary levels across alldisciplines as well as salary and bonusexpectations. We have combined this data withinsight from our specialist consultants to givefurther clarity on trends and market conditions.
Over the course of 2010, we saw increased hiringactivity in the financial services sector. According to
Morgan McKinley's widely read monthly LondonEmployment Monitor, the total number of jobvacancies increased by 48% year-on-year. Whilstthis is a pleasing increase, it is still at relativelysuppressed levels when compared to pre-recessionlevels.
Other key findings from our research are alsopositive. Well over half of hiring managers (62%)expect to see salaries increase over 2011. Only aquarter (26%) expect them to stay the same.
This not only reflects an improving market anda stronger demand for talent by our clients butis a strong indication of how, once again, it isbecoming increasingly difficult to attract andretain staff. Over half (52%) of our clients citedthat attracting and retaining staff would be thekey driver for salary increases this year.
Combined with these results, the whole subjectof bonus is clearly a key barometer of marketconditions. Whilst the largest percentage of ourclients (38%) felt that bonuses would remainsimilar to 2009/10, over a quarter (27%) felt theywould increase in the 2010/11 bonus round.Overall, the trends and key indicators for 2011continue to point to further improvement in theemployment market.
We hope you find this salary guide informative.If you have any questions, feedback or wouldlike to discuss any of the findings in this salarysurvey, please feel free to contact me or any ofmy colleagues here at Morgan McKinley for
further information.
Finally, I would like to thank you for yourcontinued support and wish you all the best inyour employment endeavours in 2011.
Andrew EvansChief Operations OfficerFinancial Services | United KingdomT: +44 (0) 20 7557 7258E: [email protected]
Welcome to
Morgan McKinleys2011 LondonFinancial Services
Salary Survey
CHIEFOPERATIONS
OFFICERSLETTER.
2
-
7/31/2019 London Fs Salary Survey Final
4/51
FINANCIAL SERVICES.
KEY SURVEY RESULTS
3
-
7/31/2019 London Fs Salary Survey Final
5/51
FINANCIAL SERVICES.KEY RESEARCH FINDINGS
Q1 Q2
4
0% 5% 10% 15% 20% 25% 30% 35%
More than 26% increase
21-25% increase
16-20% increase
11-15% increase
6-10% increase
1-5% increase
Stay the same
1-5% decrease
6-10% decrease
11-15% decrease
16-20% decrease
21-25% decrease
More than 26% decrease
Not known
0% 5% 10% 15% 20% 25% 30% 35% 40%
More than 26% increase
21-25% increase
16-20% increase
11-15% increase
6-10% increase
1-5% increase
Stay the same
1-5% decrease
6-10% decrease
11-15% decrease
16-20% decrease
21-25% decrease
More than 26% decrease
Not known
Do you expect basic salary offers from
your business to increase, decrease orstay the same over the next 12 months
and by what percentage?
Do you expect your company's
temporary / contract rates toincrease, decrease or stay the same
over the next 12 months and by whatpercentage?
-
7/31/2019 London Fs Salary Survey Final
6/51
23%
56%
13%8%
In line with inflation To attract / retain key staff
Skills shortage Other factors
FINANCIAL SERVICES.KEY RESEARCH FINDINGS
5
Q3 Q4If your company is planning to increase
salaries, what is driving this change?
If your company is planning to decrease
salaries, what is driving this change?
-
7/31/2019 London Fs Salary Survey Final
7/51
FINANCIAL SERVICES.KEY RESEARCH FINDINGS
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
YesNo
Not known
17%
49%
34%
6
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
101%+ higher
91-100% higher
81-90% higher
71-80% higher
61-70% higher
51-60% higher
41-50% higher31-40% higher
21-30% higher
11-20% higher
6-10% higher
Similar (+/-5%)
6-10% lower
11-20% lower
21-30% lower
31-40% lower
41-50% lower
51-60% lower
61-70% lower
71-80% lower81-90% lower
91-100% lower
101%+ lower
Not known
Q5 Q6How do you think bonus amounts paid
out at your firm for 2010-11 will compareto those paid for 2009-10?
Is your organisation planning to
restructure the components that makeup total compensation (e.g. proportionof basic salary versus bonus)?
-
7/31/2019 London Fs Salary Survey Final
8/51
FINANCIAL SERVICES.
SALARY GUIDE
7
-
7/31/2019 London Fs Salary Survey Final
9/51
Accounting and finance recruitment across
the investment management market
showed consistent growth in 2010. On the
back of a much tougher and more highly
regulated trading environment, the need to
monitor financial activity, adhere to financial
regulations and provide transparent
financial reports translated to an increased
requirement for qualified accountants.
Financial accountants and controllers
continue to be in high demand in 2011,
Role:Part
QualifiedNewly
QualifiedAVP
(2-5 years)VP
(5-7 years)Director
(10+ years)
Financial Accountant 25k - 32k 30k - 55k 50k - 70k 65k - 80k 75k - 100k
Management Accountant 30k - 35k 30k - 55k 50k - 75k 75k - 85k 80k - 95k
Financial Controller * 45k - 65k 60k - 80k 75k - 90k 85k+
Fund Accountant 25k - 35k 30k - 55k 50k - 65k 65k - 85k 85k - 100k
Internal Auditor 30k - 35k 35k - 50k 50k - 70k 65k - 90k 85k - 120k
Regulatory Accountant 30k - 35k 30k - 55k 50k - 65k 60k - 80k 80k - 100k
Business / Finance Analyst 30k - 35k 35k - 60k 55k - 75k 70k - 90k 85k+
as well as experienced business finance
partners with the ability to bridge back and
front office functions. Salaries for accounting
and finance professionals have increased
slightly at the newly qualified level and some
companies are paying a premium for those
with specific asset management experience.
Movement is expected following the Q1 2011
bonus round but it is uncertain whether this
will result in a spike in basic salary offers to
attract the best talent.
PERMANENT
BASIC SALARIES (PER ANNUM)
ACCOUNTING & FINANCE.ASSET MANAGEMENT & PRIVATE BANKING
8*Typically, roles do not exist at this level
-
7/31/2019 London Fs Salary Survey Final
10/51
ACCOUNTING & FINANCE.ASSET MANAGEMENT & PRIVATE BANKING
As market confidence grew in 2010, many
asset and wealth management companies
placed more emphasis on permanent
hiring, meaning temporary recruitment was
often a short term solution to cover busy
periods or parental leave. In H1 2010 there
was demand for management accountants
and financial analysts to prepare budgets
and undertake project work. This was
largely focused around revenue and AUM
reporting, which was a shift away from
the cost focus seen in 2009. 2011 has
started positively with many companies
actively recruiting. The majority
of London-based recruitment continues to
be for client-facing roles, as well as
positions requiring complex product
knowledge such as hedge fund accountants
and Fund of Funds specialists. Many large
firms relocated processing roles to UK
regions and offshore, which influenced the
demand for part qualified accountants in
London. At present, the flow of asset
management specialists seeking new job
opportunities is being impacted by the
investment banking sector, which is offering
a higher volume of roles at higher pay
rates. The strongest top tier asset
management professionals are being
retained with higher rates. Turnaround
times for temporary recruitment can be
slow, meaning that the firms that move
quickly often get the best talent.
Role:Part
QualifiedNewly
QualifiedAVP
(2-5 years)VP
(5-7 years)Director
(10+ years)
Financial Accountant 120 - 250 230 - 250 220 - 300 300 - 400 400+
Management Accountant 150 - 250 230 - 250 220 - 320 300 - 400 400+
Financial Controller * * 250 - 350 300 - 450 450+
Fund Accountant 120 - 210 210 - 250 200 - 280 250 - 300 350+
Regulatory Accountant 150 - 250 230 - 250 220 - 350 250 - 400 400+
Business / Finance Analyst 200 - 250 250 - 300 250 - 350 320 - 450 400+
RATES (PER DAY)
TEMPORARY
9
*Typically, roles do not exist at this level
-
7/31/2019 London Fs Salary Survey Final
11/51
ACCOUNTING & FINANCE.BANKING
The financial services jobs market saw a
resurgence in demand for newly qualified
and part qualified accountants in 2010. In
particular, junior accountants with
experience at the Big Four accountancy
firms were heavily targeted by banks to fill
the void at their junior levels caused by
redundancies and other transitions during
the financial crisis. This increase in demand
meant that a newly qualified accountant
could earn between 47,000 and 59,000.
Meanwhile, demand for talented junior
finance professionals with direct banking
experience remained consistently
high, leading to increases in base salary
offers of up to 25% in 2010. Competition for
talent also returned at the senior end of the
market. Companies that had not hired
senior finance professionals in any great
volume in the previous 18 months began
to see increased regulatory
requirements, rises in staff turnover and
small opportunities for growth, expansion
and investment hiring. These
factors, combined with the need to
restructure compensation packages so that
they are less bonus-oriented, have
continued in 2011. In this more competitive
environment, there have been increases in
basic salaries of 15 to 30% across all
functions.
Role:Part
QualifiedNewly
QualifiedAVP
(2-5 years)VP
(5-7 years)Director
(10+ years)
Product Controller 35k - 50k 50k - 59k 59k - 75k 80k - 120k 125k - 200k
Financial Controller 35k - 47k 47k - 58k 58k - 75k 80k - 110k 110k - 180k
Legal Entity Controller 35k - 47k 47k - 58k 58k - 75k 80k - 110k 110k - 165k
Management Accountant 35k - 47k 47k - 58k 58k - 75k 80k - 110k 110k - 165k
Regulatory Reporter 35k - 47k 47k - 59k 59k - 75k 80k - 110k 110k - 180k
Business Analyst / Project Manager 35k - 48k 48k - 59k 59k - 75k 80k - 120k 125k - 200k
Business Manager / COO 35k - 48k 48k - 59k 59k - 85k 80k - 120k 125k - 200k
Valuations 35k - 48k 48k - 59k 59k - 85k 80k - 120k 125k - 200k
PERMANENT
BASIC SALARIES (PER ANNUM)
10
-
7/31/2019 London Fs Salary Survey Final
12/51
ACCOUNTING & FINANCE.BANKING
In 2010 the financial services sector
demanded a steady stream of temporary
and contract workers with expertise in a
range of finance functions, driving rates up
by around 20% across the board. Many
professionals sought contract opportunities
for lifestyle changes, deferred bonus
incentives or the flexibility of not being tied
to an employer for a number of years. As
market confidence grew, many financial
institutions viewed temporary staff as a
flexible and time efficient hiring option to
assist in meeting their business targets.
This mood was reflected in a 59% increase
in new temporary job opportunities year-on-
year from 2009 to 2010. Demand for
temporary product controllers is expected
to remain strong in 2011, especially within
technical areas such as structured credit.
Experienced candidates in this field have
earned daily rates in excess of 450.
Financial controllers (especially those with
product knowledge), management
accountants and IT finance business
partners are also in high demand. Many
investment banks have forecasted similar
or higher temporary recruitment volumes
for 2011, indicating an increase in business
confidence compared to the start of 2010.
TEMPORARY
RATES (PER DAY)
Role:Part
QualifiedNewly
QualifiedAVP
(2-5 years)VP
(5-7 years)Director
(10+ years)
Product Controller 250 - 300 250 - 300 300 - 380 380 - 450 450+
Legal Entity Controller 200 - 300 250 - 320 300 - 375 375 - 450 450+
Management Accountant 220 - 300 250 - 320 325 - 400 400 - 500 450+
Business Analyst 250 - 350 300 - 400 400 - 500 500 - 600 650+
Financial Accountant 200 - 300 250 - 315 315 - 400 400 - 500 450+
Finance Business Partner 200 - 300 270 - 330 330 - 420 400 - 500 450+
Financial Planner and Analyst 220 - 300 300 - 350 350 - 400 425 - 500 500+
11
-
7/31/2019 London Fs Salary Survey Final
13/51
ACCOUNTING & FINANCE.INSURANCE (LIFE & NON-LIFE)
In 2010 the market for accounting and
finance jobs in insurance returned to a
situation in which demand for experienced
insurance professionals outstripped supply.
As this trend continued throughout the year,
companies looked at ways to retain staff,
such as implementing retrospective pay
rises or deferred bonuses. These talent
retention strategies have seen basic
salaries increase by up to 20% and have
given job seekers much more control during
the offer process. This picture of the
insurance hiring market is expected to
remain the same throughout the first half
of 2011. In particular, more stringent
compliance requirements, such as
Solvency II and IFRS 4 Phase 2 should
continue to fuel demand for accountancy
and finance professionals with experience
in control and regulation.
PERMANENT
BASIC SALARIES (PER ANNUM)
Role:Part
QualifiedNewly
QualifiedAVP
(2-5 years)VP
(5-7 years)Director
(10+ years)
Financial Accountant 25k - 45k 40k - 55k 52k - 70k 65k - 95k 90k - 200k
Syndicate Accountant 20k - 40k 40k - 55k 55k - 65k 65k - 80k 80k+
Management Accountant 25k - 45k 40k - 55k 52k - 70k 65k - 95k 90k - 180k
Business Partner / COO 35k - 45k 45k - 55k 52k - 75k 70k - 110k 95k - 200k
Internal Auditor 25k - 45k 40k - 55k 50k - 75k 65k - 90k 90k - 180k
Business Analyst / Project Manager 28k - 45k 40k - 58k 55k - 80k 75k - 100k 90k - 180k
Technical Accountant 30k - 45k 40k - 58k 55k - 80k 75k - 110k 100k - 200k
12
-
7/31/2019 London Fs Salary Survey Final
14/51
ACCOUNTING & FINANCE.INSURANCE (LIFE & NON-LIFE)
The market for temporary accounting and
finance insurance roles was buoyant in
2010. The challenges that organisations
faced in attracting and retaining the best
talent for permanent hires meant that there
was a greater demand for temporary staff
and in particular, those seeking temp-to-
perm opportunities. Recruitment was
focused around controls (i.e. SOX) and
improving control frameworks in response
to a more highly regulated environment.
Moving into 2011, the need for greater
clarity around reporting has resulted in
increased demand for MI specialists and
professionals with expertise in advanced
systems and process improvement.
Solvency II continues to dominate the
majority of project recruitment and a shortage
of candidates in this space has pushed up
pay rates. Syndicate accountants are also
still in short supply. Overall it is predicted that
hiring in this area will remain steady over the
next six months with strong demand for
insurance finance specialists.
TEMPORARY
RATES (PER DAY)
Role:Part
QualifiedNewly
QualifiedAVP
(2-5 years)VP
(5-7 years)Director
(10+ years)
Financial Accountant 120 - 250 230 - 250 220 - 300 300 - 400 400+
Management Accountant 150 - 250 230 - 250 220 - 320 300 - 400 400+
Financial Controller * * 250 - 350 300 - 450 450+
Fund Accountant 120 - 210 210 - 250 200 - 280 250 - 300 350+
Regulatory Accountant 150 - 250 230 - 250 220 - 350 250 - 400 400+
Business / Finance Analyst 200 - 250 250 - 300 250 - 350 320 - 450 400+
13
*Typically, roles do not exist at this level
-
7/31/2019 London Fs Salary Survey Final
15/51
AUDIT.BANKING
The demand from the banking and financial
services sector for internal audit, risk and
controls professionals increased over 2010.
This trend is set to continue throughout
2011 as many businesses look to hire the
best talent for their global audit teams. It is
expected that this demand will push up
salaries from 2010 levels. The key issue for
financial services clients has been
attracting and retaining key talent in this
area. Some businesses are even
considering candidates who have
alternative audit backgrounds such as
operational risk, Sarbannes-
Oxley, business audit and non-financial
services audit experience (for the more
junior candidates). Such moves would have
been considered highly unusual two years
ago.
Role:Analyst
(0-2 years)
AVP
(2-5 years)
VP
(5-7 years)
Director(7-10 years)
Investment Banker 50k - 60k 60k - 75k 75k - 95k 100k+
Retail / Commercial Banker 45k - 55k 55k - 70k 70k - 95k 100k+
SME Banker 40k - 50k 50k - 60k 60k - 75k 90k+
PERMANENT
BASIC SALARIES (PER ANNUM)
14
-
7/31/2019 London Fs Salary Survey Final
16/51
BASIC SALARIES ARE
DEFINITELY GOING TOBE A HOT TOPIC THIS
YEAR DUE TODOWNWARD PRESSUREON BONUSES.HR Advisor, world leading liquid equities exchange group
15
-
7/31/2019 London Fs Salary Survey Final
17/51
-
7/31/2019 London Fs Salary Survey Final
18/51
-
7/31/2019 London Fs Salary Survey Final
19/51
CHANGE & PROJECT MANAGEMENT.BANKING OPERATIONS
Following a lull in 2009, hiring for
operations change roles increased in 2010
on the back of new straight through
processing (STP) initiatives, increased
governance and stricter regulatory reform.
In particular, over-the-counter (OTC), on-
boarding and technology saw increased
hiring activity as companies placed more
emphasis on ensuring that their systems
were robust and efficient. There was also a
great deal of additional hiring for project
management, typically for large business
integration programmes. Whilst project
management roles are traditionally filled
by contractors due to the ongoing, long term
nature of change management, 2011 should
see an increasing trend by employers to fill
these roles on a permanent basis. It is
forecast that such a trend will continue
throughout the first half of 2011, alongside
PERMANENT
BASIC SALARIES (PER ANNUM)
Role:Analyst
(0-2 years)
AVP
(2-5 years)
VP
(5-7 years)
Director
(7-10 years)
Business Analyst 50k - 60k 55k - 65k 70k - 95k *
Project Manager 60k - 70k 70k - 75k 85k - 100k 95k - 130k
Programme Manager * 70k - 75k 95k - 110k 110k - 130k
PMO 50k - 60k 55k - 65k 70k - 95k 90k - 110k
a potential increase in hiring activity within
CCP projects across larger organisations.
Increased hiring volumes and consequent
skills shortages are expected to boost
salary offers in the change and project
management space in 2011. Contract rates
increased significantly in 2010 but the
permanent market has yet to catch up.
Therefore, it is likely that salaries may
increase by up to 10% this year as a result.
18
*Typically, roles do not exist at this level
-
7/31/2019 London Fs Salary Survey Final
20/51
CHANGE & PROJECT MANAGEMENT.BANKING OPERATIONS
Temporary hiring within the operations
change and project management market
picked up in 2010. Similar to the permanent
market, this improvement was on the back
of new Straight Through Processing
initiatives, increased governance and
regulatory reform. Demand for
professionals with expertise in OTC,
client on-boarding and technology is set to
continue into 2011. Rates are increasing
steadily in this market and, in most
cases, significantly outstrip what a
professional could earn in an equivalent
permanent role. If, as anticipated, the
current talent shortage continues, rates
should continue to increase over 2011.
Role: Low Average High
Business Analyst 400 450 500+
Senior Business Analyst 500 550 600+
Project Manager 550 600 650+
Senior Project Manager 600 650 700+
Programme Manager 750 850 1000+
Junior PMO 400 450 500+
Senior PMO 450 550 650+
TEMPORARY / CONTRACT
RATES (PER DAY)
19
-
7/31/2019 London Fs Salary Survey Final
21/51
-
7/31/2019 London Fs Salary Survey Final
22/51
COMPETITION FROM
ASIAN MARKETSWILL BE SIGNIFICANT
THIS YEAR.HR Manager, global investment bank
21
-
7/31/2019 London Fs Salary Survey Final
23/51
-
7/31/2019 London Fs Salary Survey Final
24/51
-
7/31/2019 London Fs Salary Survey Final
25/51
-
7/31/2019 London Fs Salary Survey Final
26/51
-
7/31/2019 London Fs Salary Survey Final
27/51
FRONT OFFICE.ASSET MANAGEMENT
In many cases front office salaries have
remained fairly stable in the last 12 months,
leaving high expectations for the Q1 2011
compensation review round. To date, the
most significant pay rises have generally
been at senior levels and / or knee-jerk
reactions to leavers or movements in the
market. Notably, some firms have had to
take measures to ensure stability in
takeover or merger situations, where staff
at director level and above have in some
cases received salary increases of as much
as 50%. Moving into 2011, there is
continued demand for product and
investment specialists in both wealth and
asset management, meaning quality
candidates can command premium salaries
within this space.
PERMANENT
BASIC SALARIES (PER ANNUM)
Role:Analyst
(0-2 years)
AVP
(2-5 years)
VP
(5-7 years)
Director
(7-10 years)
MD
(10+ years)
Fund / Portfolio Manager 40k - 50k 45k - 65k 65k - 90k 100k - 130k 150k+
Client Portfolio Manager / InvestmentSpecialist / Product Specialist
35k - 45k 45k - 62k 62k - 80k 85k - 110k 110k+
Research Analyst 35k - 45k 45k - 60k 60k - 80k 90k - 120k 130k+
Investment Analyst (Fund of Funds) 30k - 42k 42k - 55k 55k - 75k 75k - 90k 100k+
Investment Strategist / Economist 30k - 40k 40k - 52k 52k - 80k 80k - 110k 120k+
Trader / Dealer 35k - 40k 40k - 50k 50k - 75k 80k - 110k 120k+
Product Development 35k - 40k 40k - 52k 52k - 80k 80k - 100k 150k+
Sales / Business Development 25k - 32k 32k - 47k 47k - 70k 70k - 120k 120k+
Experienced investment managers are also
hot property, especially those with
specialised fixed income expertise, and as
a result there have been significant uplifts in
salary as the market competes for top
talent.
26
-
7/31/2019 London Fs Salary Survey Final
28/51
-
7/31/2019 London Fs Salary Survey Final
29/51
-
7/31/2019 London Fs Salary Survey Final
30/51
-
7/31/2019 London Fs Salary Survey Final
31/51
-
7/31/2019 London Fs Salary Survey Final
32/51
-
7/31/2019 London Fs Salary Survey Final
33/51
INSURANCE
-
7/31/2019 London Fs Salary Survey Final
34/51
INSURANCE.ACTUARIAL
Contrary to a number of areas in insurance
recruitment, the actuarial jobs market
continued to grow significantly throughout
2010, leading to an increase in basic salary
offers. Experienced actuaries will always be
in demand but recent regulatory changes
such as Solvency II have made them even
more sought after.
There are currently a number of job
opportunities available to newly qualified
actuaries in insurance
companies, consultancies, rating agencies
and banks. Employers are aware of actuary
professionals niche skills and the
importance of attracting and retaining
the best talent in the market.
PERMANENT
BASIC SALARIES (PER ANNUM)
Role:ActuarialStudent
ActuarialAnalyst
Personal /Commercial
Actuary
RiskManagement
Actuary
Head ofDepartment
General Insurance 25k - 40k 38k - 55k 55k - 100k 60k - 110k 85k+
Life Insurance 25k - 40k 38k - 55k 55k - 100k 60k - 110k 85k+
Project role: ActuarialStudent
ActuarialAnalyst
QualifiedAnalyst
SeniorActuary
Head ofDepartment
With Profits Actuary * * 55k - 100k 80k - 120k 100k+
Solvency 2 * * 65k - 100k 90k - 150k 120k+
ALM Actuary * * 60k - 100k 80k - 120k 100k+
Pricing Actuary * * 60k - 100k 80k - 120k 100k+
Financial Reporting Actuary * * 60k - 100k 80k - 120k 100k+
In many cases looking for a new role is not
always a question of salary many
professionals consider work / life
balance, location and contract options when
considering a potential employer.
33*Typically, roles do not exist at this level
-
7/31/2019 London Fs Salary Survey Final
35/51
-
7/31/2019 London Fs Salary Survey Final
36/51
-
7/31/2019 London Fs Salary Survey Final
37/51
-
7/31/2019 London Fs Salary Survey Final
38/51
-
7/31/2019 London Fs Salary Survey Final
39/51
-
7/31/2019 London Fs Salary Survey Final
40/51
-
7/31/2019 London Fs Salary Survey Final
41/51
-
7/31/2019 London Fs Salary Survey Final
42/51
SALES AND MARKETING.
-
7/31/2019 London Fs Salary Survey Final
43/51
The City saw a steady increase in thevolume of contract marketing vacancies
throughout 2010, with new job opportunities
increasing by 25% year-on-year. With the
gradual market recovery there has been an
increase in new fund launches, which has
led to increased demand for investment
writers. Internal and externalcommunication positions was also a growth
area in 2010. As competition increased, a
companys need to differentiate itself using
a highly-skilled, creative communications
team became a necessity rather than a
luxury. In some instances over the past 12
TEMPORARY
RATES (PER DAY)
Role:Analyst
(0-2 years)
AVP
(2-5 years)
VP
(5-7 years)
Director
(7-10 years)
MD
(10+ years)
Marketing Generalist 100 - 130 130 - 165 165 - 240 240 - 300 300 - 400
Sales Support / Investment Communications 100 - 200 200 - 250 250 - 300 300 - 350 350 - 450
RFPs 120 - 155 155 - 200 200 - 275 275 - 350 350 - 450
Investment Writer 120 - 155 155 - 200 200 - 275 275 - 350 350 - 450Product Marketing / Specialist 150 - 200 200 - 250 250 - 300 300 - 400 400 - 500
Investor / Consultant Relations 100 - 140 140 - 200 200 - 225 225 - 300 300 - 400
Internal Communications 100 - 120 120 - 180 180 - 250 250 - 300 300 - 400
E-Marketing 100 - 130 130 - 165 165 - 240 240 - 300 300 - 400
Events / Roadshows 100 - 120 120 - 150 150 - 175 175 - 225 225 - 325
DTP / Graphics 125 - 150 150 - 175 175 - 225 225 - 250 250 - 350
months, companies have had to offer up to15% more than market rates to secure the
strongest candidates. As the need for top
talent continues to increase, average sales
and marketing pay rates may increase by
as much as 10% during 2011.
42
-
7/31/2019 London Fs Salary Survey Final
44/51
-
7/31/2019 London Fs Salary Survey Final
45/51
-
7/31/2019 London Fs Salary Survey Final
46/51
-
7/31/2019 London Fs Salary Survey Final
47/51
TECHNOLOGY.BASIC SALARIES (PER ANNUM)
-
7/31/2019 London Fs Salary Survey Final
48/51
This year should see the continuation of a healthy
period in the technology and IT jobs market within
financial services. Following the financial crisis, the
requirement for banks to better understand and
manage their risk was well documented. It is the
capability to execute these initiatives that often falls to
the IT function, particularly within highly structured
businesses.
As the regulatory environment tightens, IT will play
a major role in delivering transparency across thefront, middle and back offices of financial
institutions, both large and small. Additionally, the
need for speed and the ability to generate profit
through nano-second transactions has placed another
demand on developers to provide trading capabilities
previously unseen.
These factors, in addition to recent cultural changes
with regard to bonuses, have meant basic salary offers
are now higher than they were in 2010. All ofthis, against a backdrop of rapid, everyday technology
advances, should secure a place for technology
professionals within the financial services sector for
the foreseeable future.
PERMANENT
( )
Role: Junior Mid level Senior
C++ Developer 32k - 35k 55k - 60k 75k - 85k
C# Developer 25k - 30k 40k - 45k 70k - 80k
Java Developer 30k - 35k 50k - 55k 75k - 85k
Web Developer 25k - 30k 35k - 45k 50k - 55k
.net Developer 25k - 30k 35k - 40k 55k - 60k
Applications Developer 27.5k - 32k 38k - 42k 58k - 65k
Tester 30k - 32k 40k - 45k 60k - 65k
Technical Analyst 25k - 30k 40k - 50k 65k - 75k
Database Administrator 30k - 35k 45k - 50k 65k - 70k
Business Analyst 35k - 40k 47.5k - 55k 75k - 80k
Project Manager 37.5k - 42k 55k - 65k 80k - 90k
Manager 40k - 50k 60k - 70k 80k - 90k
Director 60k - 70k 90k - 110k 130k - 150k
Network Engineer 30k - 32k 45k - 50k 65k - 70k
Support 25k - 28k 35k - 45k 55k - 65k
Technical Architect 50k - 60k 70k - 80k 90k - 110k
SQL 27k - 30k 40k - 45k 65k - 70k
Systems Analyst 27k - 32k 40k - 45k 57.5k - 65k
47
-
7/31/2019 London Fs Salary Survey Final
49/51
-
7/31/2019 London Fs Salary Survey Final
50/51
WE ARE MORGAN McKINLEY.
TALK TO US
-
7/31/2019 London Fs Salary Survey Final
51/51
The worlds leading
employers and successful
local businesses must bedoing something right. Webelieve we know what that is.
United [email protected]+44 (0)20 7092 0000
Hong [email protected]
+852 3907 3907
Australia
[email protected]+61 (0)2 8986 3100
China
[email protected]+86 21 5108 1200
[email protected]+971 (0)4 329 7770
TALK TO US.
Ireland
[email protected]+353 (0)1 4321555
[email protected]+813 5403 7073
[email protected]+31 (0)20 794 1995
+65 6557 4655
50
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]