SALARY GUIDE FINANCIAL SERVICES EXPERTISE

Transcription

1 2016 SALARY GUIDE FINANCIAL SERVICES EXPERTISE

2 Contents Introduction... 3 London Regions CEO Commentary Other Sectors Page 2 - Contents

3 being offered in many of the key areas that we specialise in. One of the biggest trends our Financial Services team have observed this year is a focus from candidates on the importance of employer brand over the salary and benefits packages being offered. Many of our candidates have had a wide range of options available to them, which has in turn led to an increased focus on the brand and company culture of the potential employer they wish to move to. We expect that this increased focus on employer brand and culture will continue into 2017, and have urged many of our clients to invest in their employer branding to aid their talent attraction strategies for the coming year. Welcome to the IDEX Financial Services Salary Guide 2016/2017. This year s salary guide has been created drawing upon a combination of our own data, completed assignments from this year, insight from our trusted clients and our specialist consultants extensive industry knowledge will be remembered as a year of change, and whilst there is still a level of uncertainty as to how Brexit will impact the recruitment landscape moving in to 2017, at IDEX job numbers and opportunities have stabilised to pre-brexit levels. As you will see from the guide, we have seen growth in job numbers and in the salaries Structural reform within the sector has been a key driver during Firms will need to invest in IT infrastructure to improve conduct risk observation and ensure they meet compliance regulations. Resolvability will drive regulatory interferences as authorities put emphasis on the practicalities of resolution planning during I hope that you find the guide informative in your planning, if you do require further insight or have any feedback on the guide, please contact myself or one of my team of specialist consultants. Tony Bates DipRP Managing Director M E. Tony.Bates@idexconsulting.com 2016 Salary Guide - Financial Services Expertise Welcome - Page 3

4 London SECTOR SNAPSHOT The volume of new joiners into the Financial Services sector in recent years has not kept pace with the number of roles being created, and as such the lack of talent is evidenced in a number of areas. The average time to fill a position has increased across all roles as active talent is not readily available, as such we have found that headhunting and advanced search have become essential to fill many roles. Tony Bates DipRP Managing Director Page 4 - London

5 JOB TITLE DIPLOMA QUALIFIED CHARTERED Financial Planning Paraplanner 38,000-48,000 42,000-55,000 Paraplanning Manager 45,000-55,000 55,000-72,000 Office Manager 36,000-45,000 40,000-55,000 Financial Planner 52,000-62,000 55, ,000 Regional Sales Manager 50,000-60,000 75,000-90,000 National Sales Manager 85, ,000 85, ,000 Financial Planning Director 75, ,000 85, ,000 Employee Benefits Paraplanner 35,000-50,000 40,000-55,000 Employee Benefits Office Manager 36,000-45,000 N/A Employee Benefits Consultant 52,000-80,000 65, ,000 Regional Business Development / Sales Manager 45,000-82,000 80, ,000 Regional Business Development / Sales Director 70,000-95,000 80, ,000 Employee Benefits Director 75, ,000 95, ,000 Investment Manager Investment Analyst / Researcher 35,000-42,000 42,000-60,000 Investment Manager 55,000-75,000 75,000-85,000 An increase in regulation requirements has led to a notable rise of compliance opportunities across all levels at head office and regionally; we expect this to continue, particularly for firms impacted by Brexit related regulatory changes. Portfolio Manager (desk based) 45,000-75,000 65,000-95,000 Investment Director N/A 90, ,000 Senior Investment Director / Chief Investment Officer N/A 120, , Salary Guide - Financial Services Expertise London - Page 5

6 JOB TITLE DIPLOMA QUALIFIED CHARTERED Compliance Policy and Advice Officer 45,000-55,000 48,000-62,000 Policy and Advice Manager 48,000-58,000 52,000-67,000 Compliance Monitoring Officer 35,000-42,000 40,000-55,000 As the competition for talent continues, over two-thirds of finance leaders report that they expect salaries for existing professionals to increase during Companies are also having to consider offering additional benefits, such as professional development and higher bonuses, to attract and retain Generation Y and Millennial Financial Services professionals. Compliance Monitoring Manager 52,000-65,000 60,000-75,000 Compliance Manager 45,000-55,000 55,000-75,000 Head of Compliance 75,000-90,000 90, ,000 Risk Credit Risk Officer 35,000-45,000 45,000-55,000 Credit Risk Manager 45,000-60,000 60,000-75,000 Head of Credit Risk 70,000-85,000 85, ,000 Operational Risk Manager 45,000-60,000 60,000-75,000 Head of Operational Risk 75,000-90,000 90, ,000 Training & Competence Learning and Development Officer 35,000-45,000 45,000-55,000 Head of Learning and Development 50,000-55,000 55,000-70,000 Regional Training & Competence 45,000-55,000 48,000-65,000 Head of Training & Competence 55,000-57,000 65,000-85,000 Page 6 - London

7 JOB TITLE DIPLOMA QUALIFIED CHARTERED Distribution Consultant 40,000-45,000 40,000-45,000 Regional Development Consultant 45,000-50,000 50,000-55,000 National Development Consultant 60,000-70,000 65,000-75,000 Head of Sales 70, ,000 80, ,000 IN - HOUSE CONSULTING Strategy & Corporate Development M&A Analyst 55,000-80,000 55,000-82,000 Head / Director M&A 120, , , ,000 Strategy Analyst 40,000-56,000 42,000-55,000 Strategy Manager (3-6 years exp) 55,000-90,000 55,000-95,000 Strategy Manager (6-10 years exp) 75, ,000 65, ,000 Head / Director - Strategy / Corporate Development 110, , , ,000 ANALYST (-2 YEARS) AVP (2+ YEARS) Change Management Business Analyst * 50,000-75,000 Project Manager * 70,000-80, % 100 % + When comparing figures from April September 2015 and 2016, we ve seen over 100% increase in both the number of COMPLIANCE and PARAPLANNING roles we ve registered in London PMO 40,000-60,000 60,000-75, Salary Guide - Financial Services Expertise London - Page 7

8 Regions SECTOR SNAPSHOT Our data suggests that 86% of financial services leaders have concerns about losing top performers. The rapidly growing Fintech sector is placing additional pressure on the ability of traditional firms to attract and retain skilled finance professionals, who may be tempted to work for hot start-ups rather than well-established firms Tony Bates DipRP Managing Director Page 8 - Regions

9 JOB TITLE DIPLOMA QUALIFIED CHARTERED Financial Planning Paraplanner 35,000-38,000 40,000-45,000 Paraplanning Manager 40,000-46,000 45,000-50,000 Office Manager 36,000-45,000 40,000-50,000 Financial Planner 45,000-55,000 50,000-80,000 Regional Sales Manager 55,000-70,000 60,000-80,000 National Sales Manager 70,000-80,000 80, ,000 Financial Planning Director 60,000-90,000 80, ,000 Operations Manager 50,000-60,000 60,000-70,000 Employee Benefits Paraplanner 35,000-38,000 38,000-45,000 Employee Benefits Office Manager 36,000-45,000 N/A Employee Benefits Consultant 40,000-50,000 50,000-80,000 Regional Business Development / Sales Manager 45,000-60,000 60,000-80,000 National Business Development / Sales Director 70,000-80,000 80, ,000 Employee Benefits Director 60,000-80,000 80, ,000 As regulations in the financial services industry continue to evolve, the demand for more experienced professionals who can help companies achieve greater compliance and manage risk is set to further increase in Investment Manager Investment Analyst / Researcher 30,000-35,000 35,000-50,000 Investment Manager 50,000-70,000 70,000-80,000 Portfolio Manager (desk based) 40,000-70,000 60,000-90,000 Investment Director N/A 80, ,000 Senior Investment Director / Chief Investment Officer N/A 120, , Salary Guide - Financial Services Expertise Regions - Page 9

10 JOB TITLE DIPLOMA QUALIFIED CHARTERED Compliance Quality Assurance Reviewer 32,000-34,000 35,000-38,000 Policy and Advice Officer 25,000-35,000 35,000-45,000 Policy and Advice Manager 35,000-40,000 45,000-55,000 Compliance Monitoring Officer 30,000-35,000 35,000-45,000 Compliance Monitoring Manager 35,000-45,000 45,000-55,000 Many firms are now paying above market rate to attract high quality candidates, meaning that over 2016 there has been a considerable widening of the gap between the salary packages being offered, against the remuneration of people currently in situ. Compliance Manager 35,000-45,000 45,000-65,000 Head of Compliance 75,000-90,000 95, ,000 Risk Credit Risk Officer 35,000-45,000 45,000-50,000 Credit Risk Manager 40,000-55,000 50,000-85,000 Head of Credit Risk 70,000-85,000 85, ,000 Operational Risk Manager 40,000-55,000 60,000-70,000 Head of Operational Risk 85,000-90,000 95, ,000 Training & Competence Learning and Development Officer 35,000-45,000 45,000-55,000 Head of Learning and Development 50,000-55,000 55,000-70,000 Regional Training & Competence 45,000-55,000 48,000-65,000 Head of Training & Competence 55,000-57,000 65,000-85,000 Page 10 - Regions

11 2016 Salary Guide - Financial Services Expertise Regions - Page 11

12 JOB TITLE DIPLOMA QUALIFIED CHARTERED Distribution Consultant 37,000-45,000 45,000-50,000 Regional Development Consultant 45,000-50,000 50,000-55,000 National Development Consultant 60,000-70,000 65,000-75,000 Head of Sales 70,000-80,000 80,000-90,000 JOB TITLE IN - HOUSE CONSULTING Strategy & Corporate Development We expect that the increased focus on employer brand and culture will continue into 2017, and have urged many of our clients to invest in their employer branding to aid their talent attraction strategies for the coming year. M&A Analyst 55,000-80,000 55,000-82,000 Head / Director M&A 120, , , ,000 Strategy Analyst 40,000-56,000 42,000-55,000 Strategy Manager (3-6 years exp) 55,000-90,000 55,000-95,000 Strategy Manager (6-10 years exp) 75, ,000 65, ,000 Head / Director - Strategy / Corp Development 110, , , ,000 JOB TITLE ANALYST (0-2 YEARS) AVP (2-5 YEARS) 5 YEARS+ EXPERIENCE Change Management Business Analyst * 50,000-75,000 75, ,000 Project Manager * 70,000-80,000 80, ,000 Programme Manager * * 100, ,000 PMO 40,000-60,000 60,000-75,000 75, ,000 Page 12 - Regions

13 Increase in Compliance and Paraplanning Roles in the Regions (Registered by IDEX during April September of 2015 and 2016) 27 % Increase in Paraplanning roles 47 % Increase in Compliance roles 2016 Salary Guide - Financial Services Expertise Regions- Page 13

14 IDEX has seen significant growth across all of our areas of expertise over the last 12 months. The recruitment sector is heading towards a period of dramatic change due to a number of advancements in technology and working practices. It is well documented that the workplace of the future will be significantly different to what we have today, the exponential growth of data technologies and automations are firmly impacting the white collar space. Online platforms for example, have already displaced 100,000 s of jobs and this is only the tip of the iceberg. Should we feel threatened by this emergence of cognitive computing. not if we adapt. With all great change comes great opportunity. Is your career going to be impacted? Yes. Is your business going to be affected? Yes. Is it going to be a positive impact? The great news is that it is still your choice. As an employer you need to ensure your employees are skilled to take advantage of the future. Research we commissioned last year proved that individuals are no longer loyal to a company unless that company is seen to be investing into protecting their future. IDEX have invested heavily in new technologies; we are providing advanced training to our consultants on how to build attraction strategies, consult on employer brand, plus selection techniques appropriate for the new generations. We have created a solutions led culture which encourages our teams to constantly look at technologies, systems and processes that enable everyone at IDEX to take pride in making YOU successful. Insurance Expertise IDEX Consulting are proud to present our annual UK Salary Guide for Insurance professionals. The guide provides information and insight spanning across the UK regions and City and Lloyd s general insurance markets. Our team of specialist recruiters have created the guide to assist our valued clients in driving competitive advantage through talent acquisition and retention over the coming year, and to support individuals within the UK insurance sector who are looking to take the next step forward in their career. Matt Green Chief Executive Officer Page 14 - CEO Commentary

15 Legal Expertise Now in its second year, the IDEX Legal Expertise Salary Guide has been developed to assist legal professionals across the London and the Middle East in securing their next career move, and to support our valued clients in their business growth plans. Drawing upon IDEX Consulting s specialist Legal team s extensive knowledge, the 2016/17 Legal Salary Guide contains insight and information for legal professionals at all levels across the London City and Middle Eastern markets, both for private practice and in-house. Finance Expertise New for 2016/17, IDEX Consulting are delighted to introduce the Finance Expertise Salary Guide 2016/17. The guide has been created to provide a comprehensive overview of salaries and sector insights for Accountancy and Finance professionals within Insurance, Financial Services and General Practice across the UK market. Our Finance team have created the guide using a combination of our own data and information from the UK Finance market, insights from our respected clients, candidates and our specialist consultant s sector knowledge Salary Guide - Financial Services Expertise Other Sectors Guides - Page 15

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