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    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

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    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

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    FINANCIAL SERVICES.

    KEY SURVEY RESULTS

    3

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    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?

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    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?

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    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)?

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    FINANCIAL SERVICES.

    SALARY GUIDE

    7

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    BASIC SALARIES ARE

    DEFINITELY GOING TOBE A HOT TOPIC THIS

    YEAR DUE TODOWNWARD PRESSUREON BONUSES.HR Advisor, world leading liquid equities exchange group

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    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

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    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

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    COMPETITION FROM

    ASIAN MARKETSWILL BE SIGNIFICANT

    THIS YEAR.HR Manager, global investment bank

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    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

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    INSURANCE

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    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

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    SALES AND MARKETING.

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    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

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    TECHNOLOGY.BASIC SALARIES (PER ANNUM)

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    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

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    WE ARE MORGAN McKINLEY.

    TALK TO US

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    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

    [email protected]

    +65 6557 4655

    50

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