SALARY INFORMATION 2016

Transcription

1 SALARY INFORMATION 2016 Dublin London Boston Frankfurt Zurich Dubai Milan Paris paragonexecutive.com

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3 FINANCIAL SERVICES JOB MARKET 2016 According to Department of Finance, there will be 10,000 additional jobs in financial services sector in Ireland by The sector enjoyed stable growth in 2015 and people had new-found energy and drive. It was a year which saw candidates in demand with counter offers becoming wide spread and we see this continuing in It can be flattering for candidates but it inflates salaries and confidence and it becomes difficult for companies to both attract and retain talent. Money is back on the agenda for people after years of relatively modest, if any, salary movements across the industry. In 2015 professionals from other industries were successfully recruited into the banking community, for example, data analysts from the telecoms sector. This has seen a welcome injection of new and different skills and mind-sets into the sector and we see this continuing in Part of the additional 10,000 jobs will be in the Fin-Tech, innovation and technology space. The financial services industry is speeding up its service and products on offer. Growth will also continue in the fund administration industry. Ireland will continue to be at the forefront of fund administration in the world, however it will have a challenge in attracting and retaining talent given the fluidity of professionals switching employer for moderate salary increases. Another growing industry is the aircraft leasing industry. It continues to be an attractive industry to join but this is relatively hard to do unless one has previous aircraft leasing experience. Ireland s regulatory environment is also continuing to grow, and the regulators both in Europe and in Ireland are working hard to ensure it does not overcompensate and curtail healthy growth. This is an element that other areas of the financial services sector will continue to work on in 2016, especially the cultural aspect of compliance leading to additional staff being required to lead these projects saw a continued improvement in the performance of financial markets globally and the recruitment sector has mirrored this upturn which is reflected in an increase in both salaries, bonuses and benefits in the main global investment centres over the last 12 months. Professionals with international experience will continue to be sought after in 2016 it is a very good time to consider moving back to Ireland! These candidates experience will carry a premium, where it s relevant to the Irish market. It will be a busy 2016 with a lot of people moving jobs, and a lot of companies working hard to retain their talent pool.

4 Investments Job Title Job Description Salary Bracket Bonus Global Equtiy Fund Manager Quantitative Portfolio Manager 10+ years experience from asset management background 7-10 years experience - Masters in Quantitative Finance 130, ,000 up to 100% 80,000-90,000 up to 70% European Equity Fund Manager 7-10 years experience - CAIA charter holder up to 130,000 up to 130% Fixed income Portfolio Manager 7-10 years experience - MSc in Investments & Tresuary 120, ,000 up to 70% Equity analyst sell side 10 years experience 120,000 up to 75% Corporate Finance Director 8 years experience 150,000 up to 100% Investment analyst 2-3 years experience - CFA 40,000-45,000 up to 15% Benefits Bonus 15-40% Senior Fund Managers can look to get upto 100% on the base salary Pension Depending on seniority employer contrib. ranging from 5% to 12.5% Healthcare Holidays Other Most include coverage for all dependants Ranging from days Free Travel pass, Sport Club allowance, Professional subs, Educational assistance and on site subsidised canteen Market Intelligence 2015 has been a busy year in the asset management/investment sector, with both HNW and institutional investors seeking to maximize their returns in a low interest environment. This has placed greater focus on equity and alternative investments, with the result that private client and institutional asset management firms have looked to grow their expertise and capability. In the alternatives sector, property asset management has been particularly active with firm demand for junior to mid-level investment analysts, usually with strong financial modelling experience. Firms will typically look at Big 4 transaction services candidates for more junior roles for which the market is quite good, but more senior candidates with in-depth property origination and due diligence experience have proven harder to find. In common with other investment areas, candidates coming from London or other international markets have tended to be in high demand. With regard to qualifications in the Investments arena, candidates who hold a post graduate CFA qualification are in high demand. CFA is then followed closely by a Masters in Quantitative Finance. For junior candidates, the market place is shifting. In 2015 there has been more of an emphasis placed on candidates with client facing experience. Junior candidates who do possess this client facing exposure are considered to be more preferential and considered to hold more of an advantage over candidates who only possess market experience holds many challenges for firms across most sectors. The main challenge posed for Investment firms will be to create or improve on the interview process with regards to the speed of the said process. Due to the high level of competition for top quality candidates, the faster the Interview process is, the chances of securing the desired candidate increases. This should also be coupled with firms selling the benefits in joining their organisation to the candidates, as in today s market, candidates with highly sought after skill sets and qualifications will potentially have a number of offers on the table. The selection of these candidates is changing, we have seen a major increase in the amount of counter offers used as a staff retention tool by firms, which makes the selection process for firms different than what it was 2 years ago. We would advise clients to have 2 candidates which they are prepared to make an offer to, first choice and contingency. This would, in turn, combat the chance of the preferred candidate accepting a counter offer or another offer, and avoid a search to have to reset to the sourcing of candidates.

5 Banking Job Title Job Description Salary Bracket Bonus Head of Data Analytics 10+ years experience from banking background 130, ,000 n/a Data Analytics Manager 6-10 years experience, people management 80,000-90,000 n/a Data Analyst 3-5 years experience up to 65,000 n/a Head of Change Senior Programme Manager Programme Manager PM / PMO 10+ years experience, PMI, Prince 2, PMO experience 10+ years experience, PMI, Prince 2, PMO experience 7 years working on multiple projects managing PM and BA staff 5+ years experience, professional project management qualification 120, ,000 n/a 110, ,000 n/a 80,000-90,000 n/a 75,000-80,000 n/a Junior Underwriter (Retail Banking) Senior Underwriter (Retail Banking) 2-4 years experience, including APA or QFA 35,000-40,000 n/a 4-7 years experience, including APA or QFA 45,000-55,000 n/a Portfolio Manager (Commercial Assets Recovery) Residential Asset / Relationship Manager (Asset Servicing) Commercial Asset / Relationship Manager (Asset Servicing) 5+ years experience, managing cases and potentially staff 3-5 years experience, and knowledge of insolvency/ liquidation/ receivership process 3-5 years experience, and knowledge of insolvency/ liquidation/ receivership process 75,000-85,000 up to 30% 38,000-45,000 up to 10% 38,000-53,000 up to 30% Asset / Case Manager (Banking) 2-4 years experience, including APA or QFA 35,000-42,000 n/a Benefits Bonus Most banks do not offer a bonus. Asset management companies offer bonus ranging from 10%-30% Pension Standard pensions most of the time are offered, depending on seniority ranging from 2%-15% employer contribution Healthcare Car/car allowance Holidays Other Contribution towards an employer scheme of ca 10% and no major difference between junior and senior levels All banks offer car allowance ranging from ca 9K at Manager levels to ca 20K at Head of/ Director levels at junior end, and max 25 at senior end. The banking industry has seen a stream lining of holidays in 2015 at the senior end and no negotiation around this Life assurance and preferential banking rates. Outside of the banks free travelpass, sports club allowance, professional subscriptions and canteens are popular

6 Banking cont d Market Intelligence The banking Industry in Ireland saw a big shift in Banks have placed more emphasis on their retail product offers which has required a mix of new talent and existing experienced staff. With a strategic view outside the banking sector, there have been successful hires from telecoms and technology sectors. However competing with remuneration within these sectors has posed a difficult challenge. We saw the banks grow their marketing departments in 2015 with specific hires and demand for candidates within data analysis and related fields. All banks are continually driving large programmes across all areas of their business with a focus on professional Project Managers rather than employing experienced operations candidates with some project experience. There has been an increase in hires related to customer segmentation, acquisition and strategy to boost the teams responsible for driving and growing new business initiatives across the organization. We continued to see a requirement for recovery managers, particularly in the area of commercial recovery. We envisage one of the biggest issues in 2016 will be dealing with a large number of mid to senior-level professionals who were involved in the recovery aspect of the banks during the crisis, and who are now finding it hard to enter back into the banking environment. Companies offering loans outside of the banks will continue to grow in Even though the regulatory environment is stern, there is also an understanding that it needs to assist growth to ensure Ireland s continued road back to success. Talent returning to Ireland with international experience will continue to be in strong demand, especially from the UK or Australian markets where the banking world is more advanced. We will also see a big focus on technology with companies placing a specific emphasis on FinTech and innovation. With roughly 10,000 new jobs in Financial Services expected by 2020, we foresee an exciting and competitive marketplace within Banking in 2016.

7 Fund Administration Job Title Job Description Salary Bracket Bonus Director of Private Equity years' experience working in funds/ Management of teams > , ,000 n/a Senior Account Manager years' of experience working in funds 85,000-90, % Senior Manager (VP) 15 + years' of experience working in funds 80,000-85, % Fund Accounting Manager (Officer) 5-7 years' fund accounting experience incl. min of 3 yrs in people mgt role 65,000-70,000 n/a Fund Accounting Supervisor 3-5 years' fund accounting experience 45,000-50,000 n/a Senior Fund Accountant 2-3 years' experience 35,000-45,000 n/a Fund Accountant Graduate min 1 year of experience 25,000-30,000 n/a Investor Services Supervisor 5 + years' of experience 45,000-55,000 n/a Senior TA Administrator 2 + years' of experience 35,000-40,000 n/a Benefits Bonus 0% - 15% for this sector Pension Employer contribution ranges from 5% - 15% Healthcare Most include coverage for all dependants Car / car allowance: Car allowances are given at Senior level in some firms, anywhere from 5k - 15k Holidays: days depending on experience and years of service Other Free lunches and club subsidiaries Market Intelligence As predicted, Ireland continues to be the number one fund centre of choice when domiciling and servicing Alternative Investment Structures. This feat props up the success of the financial services industry in Ireland has been a challenging year in the funds sector with growth in the traditional fund accounting sector so the salary ranges above are quite large with offers over the last few months at the top end of the scale. During , there was a very small number of international fund administrators hiring in the Irish market and the roles were being offered were mainly on a temporary basis. In the last 2-3 years this has changed dramatically with every firm, large and small, recruiting professionals at all levels on a permanent basis. There is an ever growing war on talent, with employers committed to annual salary reviews which are linked to performance and tenure. We have seen a growing increase in counter offers from existing employers as the candidate market is squeezed even tighter. Companies are increasing the level of benefits, many nonmonetary such as flexi time and ability for more senior candidates to work from home. One of the main challenges for 2016 in relation to the Funds industry will be the competition for staff. Job security, salary reviews and promotions are all aspects contributing to the candidate market being squeezed even tighter. Organisations within the funds sector need to be prepared for what is, essentially, a bidding war for a preferred candidate. As mentioned above, counter offers have returned to the market and with active candidates having numerous offers on the table, securing this talent will be the main challenge entering 2016.

8 Risk Job Title Job Description Salary Bracket Bonus Chief Risk Officer Head of Operational Risk Head of Financial Risk Senior Quant Risk/Valuations Quant Analyst/Modeller Senior Risk Analyst Risk Analyst Benefits years' experience. Extensive market/ credit expertise; Developed ICAAP and risk appetite policies for large bank Establish new operational risk structure, managing team of years' experience across domestic and international entities with oversight of liquidity risk & capital management 10 years' market risk and derivatives pricing experience 5-7 years' quant/model development experience in treasury and capital markets 3-5 years' modelling experience, mathematical/ quantitative background in retail banking 2-3 years' quant/model construction experience in asset management 220, ,000 n/a 120, ,000 n/a 150, , % 100, ,000 15% 70,000-75,000 n/a 50,000-60,000 n/a 40,000-45,000 6% Bonus Pension Healthcare Car/car allowance Holidays Other Bonus levels range from 10-25%, excluding Irish state-owned institutions Defined contribution schemes are provided by employers, with a mix of contributory and noncontributory. Maximum employer contribution is usually 15% on a typical DC scheme Irish institutions provide discounted group schemes with international companies providing fully-subsidised cover for employees. This extends to spouse/family at more senior levels Up to 18-20k for senior management/director level, with 8-12k typical for middle management levels at junior end, and max 25 at senior end. The banking industry has seen a stream lining of holidays in 2015 at the senior end and no negotiation around this Life assurance and preferential banking rates. Outside of the banks free travelpass, sports club allowance, professional subscriptions and canteens are popular Market Intelligence 2015 saw strong demand for quant risk candidates, with the focus moving from credit risk/impairment modelling to hiring for candidates with market and liquidity risk modelling and validation experience. There was an appetite from banks for candidates with ICAAP, ILAAP and Basel III experience while asset managers and AIFM structures were actively hiring candidates with market risk and derivative pricing experience. The market has been in the favour of candidates, with those actively searching for a new role being able to secure multiple interviews and offers. Candidates have also had to deal with the flattering, but sometimes stressful, situation of counter-offers from their current employers when they resign. For 2016, we expect that the demand for risk candidates will continue to remain high. This, in part, will be driven by new regulatory measures such as Basel III, but we also anticipate the employers will see turnover as their staff are becoming more aware of their value. Whilst the majority of candidates we work with are seeking a role with an organisation that will provide them with greater career progression and professional development opportunities, they are also seeking to maximise their earning potential. Organisations that do not keep pace with salary and benefit trends may find that their best and brightest employees decide to pursue opportunities elsewhere.

9 Finance Job Title Job Description Salary Bracket Bonus Head of Financial Reporting Senior Finance Business Partner Financial Accountant Part Qualified Accountant (Corporate Services) Corporate Finance Analyst (Advisory) Financial Reporting Accountant (Fund Administration) Financial Reporting Analyst Benefits 10+ years' PQE in asset management/fund administration, extensive statutory reporting experience. Has managed teams of up to 10 people 15+ years' PQE, extensive financial planning & analysis/business partnering experience in financial services 1-2 years PQE Big4 Trained Accountant with excellent internal reviews and specific market knowledge Big 6 experience, Part Qualified and over 3 years professional experience in SPV's 2+ years' PQE, Big4 trained in Corporate Finance Recently qualified Big4 trained Accountant. 4 + years' experience in Asset Management Audit Candidate with 1 year experience in Financial Reporting who is pursuing ACCA exams 85,000-92, % 105, ,000 n/a 55,000-60,000 12% 37,000-42,000 10% 60,000-65, % 50,000-55,000 8% 27,000-30,000 n/a Bonus Levels range from 10-15%, excluding Irish state-owned institutions Pension Depending on seniority employer contrib. ranging from 5 to 12.5% Healthcare Other Most include coverage for all dependants More senior level candidates may receive Car Allowances, Fuel Allowance & Stock Options. Other benefits may include Free Travelpass, Sport Club allowance, Professional subs, Educational assistance and on site canteen Market Intelligence 2015 has proved to be a competitive year in Finance. With many organisations expanding operations, increasing headcount and also, with the Irish economy contributing to job creation, the market has become candidate driven. Although there is a very active market within Finance, one of the main obstacles for organisations looking to attract and secure this talent is the competitive nature of the Irish market at the moment. Candidates are well aware of their worth and also the demand for their skillset, meaning, active candidates will no longer have only one offer on the table. Not only do candidates have multiple offers, they also have different positions to choose from, which makes securing this talent more difficult for organisations than in previous years. We are witnessing a high demand for Big4 trained newly qualified accountants and Big4 trained accountants with 2/3 years PQE. This demand coupled with the competition for these professionals is showing that prospective employers are prepared to offer salaries above what is initially outlined. Organisations are also improving the additional benefits they can offer in a bid to set themselves apart from competitors. Many of these improvements are made along the non-monetary side of an offer, such as, flexi-time and the autonomy for senior candidates to work remotely from home on occasion will prove to be a similar year for Finance with the market being driven by candidates and the competition between organisations will be the main influencing factor for talent acquisition going forward.

10 Compliance & Legal Job Title Job Description Salary Bracket Bonus Senior Legal Counsel Aircraft leasing - (Minimum 10 years PQE ) 135, ,000 (10-15%) Head of Compliance Asset management 130, ,000 n/a Senior Compliance Analyst Asset management 75,000-80,000 n/a Head of Legal Asset management - (10 years PQE ) 105,00-115,000 (6-8%) Senior Legal Advisor (Distribution) Asset management - (8-10 years PQE) 120, ,000 n/a Senior Compliance Specialist Assurance 70,000-80,000 n/a Solicitor Assurance - (6-8 years PQE ) 65,000-75,000 n/a Compliance Monitoring Specialist Banking 45,000-55,000 n/a Head of Risk and Compliance Banking 125, ,000 n/a In-house Legal Banking 120, ,000 n/a Senior Legal Advisor - Corporate & Treasury Banking - (Min 6 years PQE) 105, ,000 n/a Company Secretary Fund services 40,000-45,000 (0-6%) Financial Crime Officer Fund services - (Minimum 3 to 5 years experience) 45,000-55,000 (0-6%) In House Legal Fund services - (6-8 years PQE ) 75,000-85,000 (0-6%) Legal and Compliance Advisor Fund services - (Minimum 5 years experience) 65,000-75,000 (0-6%) Compliance and Legal Manager Insurance - (4-6 year's experience) 75,000-85,000 n/a Group Head of AML Payments Company 190, ,000 (10-15%) Investigations Manager Big 4 Practice experience 55,000-65,000 n/a Benefits Bonus Pension Healthcare Car Allowances Other Bonuses are not common across the compliance sector, but at more senior level roles they occur up to c. 15% Pension contributions are standard practice across all sectors but rate depend on seniority and industry, banking sector leading the way with up to 14% of all employee contributions with the funds and insurance industries from 6% to 12% Individual healthcare is standard practice across all sectors but packages depend on seniority with some senior packages include coverage for all dependants Predominately only seen in the banking sector and only for more senior level candidates Educational assistance, ACOI membership, Free Travel pass, Sport Club allowance and on site canteen

11 Compliance & Legal cont d Market Intelligence Although Compliance may have been the priority on every company s list at the start of the year, 2015 has been an interesting and changing year for both Legal and Compliance roles across all sectors. Priorities changed, organisations in every sector of financial services, who were originally inspired to expand their compliance and legal teams in response to the planned legislative changes both from the EU and Central Bank, delayed and extended role deadlines. The main reasons given were business levels picking up and the implementation of legislative changes being pushed out to later in the year. Although the start of the year saw more senior management roles coming to market and placed quickly due to PCF requirements, throughout the year we witnessed high market demand, across all sectors for specific compliance managers / Officers. With the shortage of high quality professionals available, along with the aforementioned changes, organisations priorities to fill compliance roles fell short. This caused candidates already in the interview process to seek employment elsewhere and also opened the door for counter offers from candidates current employers. In the second half of the year, with the upturn of the market and increased business, companies turned their attention to more compliance monitoring based roles while also expanding their Legal teams. Here we saw an increase of professionals moving from Practice in to in house roles across the banking, funds, and insurance industries. The outlook for 2016 and beyond is positive as the majority of companies and organisations in every sector of financial services will have to continue to expand both their legal and compliance teams. This is due to even more regulatory changes planned for the next 3 years from the new EU regulatory framework for financial services under the Single Supervisory Mechanism (SSM). These changes along with the implementation of the AML directive under UCITS V, Conduct rule changes in MiFID II along with some very complex changes to CRD and Solvency II, its predicted that an already tight market of strong experienced candidates will see companies facing difficulties in securing top talent above their competitors.

12 Audit & Tax Job Title Job Description Salary Bracket Bonus Audit Manager (Financial Services) Qualified Accountant, 5 years' experience with leadership abilities and strong knowledge of GAAP 60,000-65, % Audit Senior Manager (Financial Services) Qualified Accountant, 7 years' experience with at least 2 years' experience managing teams, strong working knowledge of GAAP with the ability to further develop team members 80,000-85, % Audit Manager (Consumer Markets) Qualified Accountant with 5+ years' experience in a Practice environment, client facing exposure and strong technical knowledge of IFRS and GAAP, understanding of SOX would be beneficial 60,000-65, % Audit Manager (Consumer Markets) Qualified Accountant with 5+ years' experience in a Practice environment, client facing exposure and strong technical knowledge of IFRS and USGAAP, understanding of SOX would be beneficial 65,000-72, % Assistant Manager (Corporate Tax) CTA and ACA qualified with a minimum of 1 years' PQE, client facing exposure and excellent understanding of corporate tax 53,000-58,000 n/a Benefits Bonus Bonuses can vary depending on firm, however at Manager level the bonus varies from 0-20% which is based on performance Pension Healthcare Holidays Other Standard pensions are typically offered from Manager level and above. Employer contribution increases year on year for most, ranging from 5%-12.5% There tends to be a contribution towards an employer scheme depending on which supplier the individual firm partners with and there is no major difference between junior and senior levels. This can be an employee s choice at junior end, and max 25 at senior end A yearly allowance is offered to most which ranges between 500 and 1,200 depending on the firm

13 Audit & Tax cont d Market Intelligence There are some key issues to be considered within professional services in The main issue identified from meeting with candidates and clients alike, is staff attraction and retention. Many firms are faced with the realisation that due to the amount of opportunities in industry, professionals trained within practice are keen to move to industry as quickly as possible, meaning the search for talent is consistently ongoing. Motivations are all very similar; bigger salaries and work life balance is something that is driving these candidates to turn away from professional services. With regards to the candidates who value the experience they gain from working in a professional services firm, expectations will be the key issue as we approach We know the market is competitive and candidates are well aware of the need for their skills. This is already having an effect on the management of expectations for these candidates. Candidates who value an interesting portfolio and progression, are less likely to accept an offer unless it is a vertical move with a salary increase. This will be the biggest challenge moving into As the demand for experienced hires in Assurance and Tax is increasing, the pull from Industry for qualified professionals is jeopardising the ability of firms to be able to guarantee quality of work to clients within the agreed time frame. The Industry market is continuously growing due to our own economic growth and FDI, thus more jobs are being created quarter after quarter in Ireland. Whether salary bands are increased slightly or the upskilling of candidates coming from smaller practices are on the agenda, the candidate market will continue to be tight in 2016 leaving Accountancy firms with a problem of growth without numbers.

14 Advisory Job Title Job Description Salary Bracket Bonus Senior Consultant Qualified Accountant with experience in a client facing role with particular emphasis on NGO's or Public sector. Experience working within a professional services environment a distinct advantage. 45,000-50,000 n/a Senior Consultant (FS Advisory) Qualified Accountant 3+ years' experience working within a professional Services/ Consultancy environment. Project Management exposure is an advantage. Proficient with Microsoft office suite. 50,000-55,000 n/a Risk Consulting Manager (FS) Qualified accountant who demonstrates excellent team leading and communication skills. Strong project management experience, experience in the financial services environment was essential unless the candidate was trained in Practice 60,000-65, % Risk Consulting Senior Manager (FS) Qualified Accountant with 7+ years' within a professional services environment. Candidates who have not trained in practice will require extensive experience wihtin the financial services industry. Experience with managing multiple projects and multiple teams, training and coaching junior members of staff, budgeting for assignments and candidates should also possess a strong track record of business development success. 75,000-80, % Benefits Bonus Bonuses can vary depending on firm, however at Manager level the bonus varies from 0-20% which is based on performance Pension Healthcare Holidays Other Standard pensions are typically offered from Manager level and above. Employer contribution increases year on year for most, ranging from 5%-12.5% There tends to be a contribution towards an employer scheme depending on which supplier the individual firm partners with and there is no major difference between junior and senior levels. This can be an employee s choice at junior end, and max 25 at senior end A yearly allowance is offered to most which ranges between 500 and 1,200 depending on the firm

15 Advisory cont d Market Intelligence Market trends appear to show that candidates working within a consultancy practice are more focused on opportunities which offer candidates progression, much like in assurance and tax. One of the predominant factors influencing decision within the advisory market is down to the projects available to candidates, in most cases, client s portfolios. There has also been an emphasis on location requirements. Given personal restrictions and the buoyancy of the Irish marketplace at the moment, candidates or more likely to move if the organisation has a more convenient base to lessen the commute. It is widely understood that there is a shortage of strong candidates with experience in banking or compliance. This is particularly evident when looking at Manager grade or a professional with 5 years experience in a professional services environment who possess consultancy experience. IT professionals still hold the reputation for being the most in demand throughout the market. With the business world continuing to put extra emphasis on IT/Cyber security, this market is proving the most challenging. Whether it is the demand for an accountancy qualification along with the likes of CISA (or similar) firms are constantly competing with the Industry side of the market for these highly skilled professionals. Projected job creation within Advisory, throughout the majority of firms, is expected to grow considerably throughout 2016 and once again, retention and attraction will become one of the biggest drivers for firms to successfully secure skilled employees.

16 International Job Title Job Description Salary Bonus Private Equity Accountant Qualified accountant, with 3 to 5 years' relevant experience with PE Fund or PE Fund administrator Canada 36,500 10% Ireland 40,000 2,500 + Overtime Channel Islands 55,000 20% USA 66,000 18,500 UK 70,000 25% Trade Support / Settlements Manager 10 years' experience in trade processing and settlements with significant people management responsibilities Australia 75,500 20% USA 111,500 60% Ireland 120,000 25% UK 127,500 20,000 Hedge Fund Accountant Qualified accountant with 3 to 5 years' hedge fund accounting experience Canada 36,500 5% + Overtime Ireland 45, % USA 78, % UK 94,000 25% COO - Asset Manager / Servicing Qualified accountant with 10+ years' operations experience France 150, % Belgium 200,000 50% Germany 225,000 85% Luxembourg 250,000 40% Middle East 250, % Ireland 275, % UK 290, , % + LTIP Credit Analyst - Industrials CFA chartholder with 3-5 years' credit experience Holland 42, % Spain (*7 yrs. experience) 48, % France 55, % UK 75, %

17 International cont d Benefits Bonus Pension Healthcare Car / car allowance Holidays Other Bonus range fluctuates hugely with investment banks and hedge funds paying higher % than fund servicing and fund administration organisations Standard pensions depending on seniority ranging from 2%-15% employer contribution Healthcare was included in all packages above with the only difference being the more senior candidates receiving family health cover Car allowances given as standard in Ireland and mainland Europe for senior level candidates with levels ranging from 12K to 20K per annum but are NOT included in above packages for candidates from London / North America or Middle East United States lowest with 12 to 15 days; Ireland and UK similar ranging from 21 to 28; Mainland Europe and Middle East range from 30 to 40 days Major differences globally would include those working on ex-pat packages in mainland Europe and the Middle East - benefits include accommodation monthly living allowances, children school / university fees, free flights and other relocation expenses Market Intelligence 2015 saw a continued improvement in the performance of financial markets and the recruitment sector has mirrored this upturn which is reflected in an increase in both salaries, bonuses and benefits in the main global investment centres over the last 12 months. This resulted in candidates receiving counter offers from current employers and also being actively targeted by head hunters especially in the London market with salary levels in London rising but the large sign on bonuses and guaranteed bonuses are a thing of the past. We have seen a large premium paid by the investment / asset and hedge fund managers for qualified accountants when compared to the large global investment servicing / fund administration organisations with both salaries and bonuses at the higher end of the scale. The main global fund administration and asset servicing centres of Dublin and Luxembourg are finding it increasingly difficult to source quality experienced candidates even with the continued off-shoring of some functions to low cost locations. For the year ahead we see a continued shortage of skilled and experience talent globally with candidates holding professional qualifications and experience from blue chip organisations being in high demand.

18 Meet the team Paragon Executive Intelligence is an independent, boutique professional services recruitment consultancy specialising in placing financial services professional at all levels in the domestic and international markets. Our well established and experienced team is standing by to further assist you! Colin McGhee Managing Director E cmcghee@paragonexecutive.com Diarmuid Clancy Consultant Risk & Finance E dclancy@paragonexecutive.com Mia Barry Director Banking E mbarry@paragonexecutive.com Sean Sweeney Manager Funds & Operations E ssweeney@paragonexecutive.com Paul O Reilly Director Risk & Finance E poreilly@paragonexecutive.com Stephen Gilmore Consultant Funds & Operations E sgilmore@paragonexecutive.com Robin Criag Director International E rcraig@paragonexecutive.com Keith Phillips Consultant Assurance / Tax / Advisory E kphillips@paragonexecutive.com Kevin Menton Consultant Investments E kmenton@paragonexecutive.com Ewelina Kaczmarek Consultant International E ekaczmarek@paragonexecutive.com Ciarán O Connel Consultant Legal & Compliance E coconnell@paragonexecutive.com Conor Dignam Consultant Banking E cdignam@paragonexecutive.com

19 Paragon Executive Ltd Head Office The Capel Building Mary s Abbey Dublin 7 D07 XEW4 London Office 152 City Road London EC1 V2NX UK T F:

20 Paragon Executive Ltd Head Office The Capel Building Mary s Abbey Dublin 7 D07 XEW4 London Office 152 City Road London EC1 V2NX UK T F: Dublin London Boston Frankfurt Zurich Dubai Milan Paris paragonexecutive.com