Banking and financial services salary survey: insight and trends

Our banking and financial services salary survey benchmarks responses against 2013 and overall market sentiment to give an
insight into current trends for this year.

Please get in touch, using the form on the left, if you’d like to discuss the impact of our findings on your recruitment plans. Keen
to find out what you’re worth or how you should be compensating your team? Take a look at the salary data.

Job growth

Confidence in the market appears stable with 76% of respondents expecting their company’s permanent headcount to stay
static or to increase.

Overall 78% of respondents feel more positive than last year, with just 3% of respondents having a negative outlook on their
sector.

Compensation

The majority of those surveyed (69%) expect their

organisations to pay salary increases, up 1% year-on-
year.

A large majority of banking and financial services

companies surveyed (79%) expect bonuses in 2014, down
4% year-on-year.

In light of the pay and reward debate concerning the

banking and financial services sector, a small majority of
respondents (39%) surveyed believe that employee
performance will be affected if the bonus culture is
removed, while 34% do not believe that their part of the
sector is affected by the debate. Just 19% believe that
moving away from the bonus culture would be good for the
sector.

Retention

Just over half of those surveyed (56%) don’t believe their organisation does enough to recruit top talent. This figure is
slightly below the cross-sector benchmark of 60%.

The top reason given for not doing enough to retain top talent (69%) is that there are few opportunities for career
progression. This is closely followed by below market rate salaries (57%) and negative working environment (35%).

Despite negative media, the majority of respondents in the banking and financial services sector (71%) are confident that
their company’s ability to attract new talent has not been compromised.

Skills

A third of employers questioned (33%) believe that the right attitude to work is the most important quality candidates lack
today. Commercial awareness (24%) and relevant work sector experience (24%) are cited as being the next most
important elements that candidates lack.

51% of respondents believe there is a skills shortage within the industry.

 77% would recruit candidates without prior sector work experience. Of these, 77% would do this because they believe that
ability to do the job and personality are more important.

Of the remaining 23% who would not recruit a candidate without sector experience, the reason given was that sector
experience is vital to do the job (36%) as well as a need for strong candidates that can ‘hit the ground running’ (33%).

Gender diversity

38% believe that priority should be placed on recruiting female talent in the boardroom, in mid-management and at
graduate level equally.

28% think more women should be recruited at boardroom and mid management levels.

30% believe that gender diversity is good within their organisations and that no specific focus on recruiting females is
necessary.

Interested to find out more? Get in touch using the form on the left and we’ll call you back to discuss your banking and financial
services sector recruitment requirements. If you’re looking for a new opportunity, search all of the jobs we’re handling to see
which could be right for you.

Banking and financial services salary results

We’ve compiled salary data on a range of job types in the banking and financial services sector. Take a look below.

All Regions
Average
From Average To
Role day Other
(£) (£) (£)
rate (£)

Front Office
Director/SVP/Head of Department 120k 200k 200k 450 - 750 100 - 300% bonus
Senior Manager/VP 80k 120k 120k 300 - 450 50 - 150% bonus
Manager/AVP 50k 75k 90k 187 - 337 30-100% bonus
Analyst/Associate 40k 80k 80k 150 - 300 20-70% bonus

Controllers/Finance/Accounting/Treasury
Director/SVP/Head of Department 85k 130k 130k 319 - 488 40 - 100% bonus
Senior Manager/VP 65k 85k 85k 244 - 319 15 - 40% bonus
Manager/AVP 55k 65k 65k 206 - 244 10 - 30% bonus
Analyst/Associate 45k 55k 55k 168 - 206 5-15% bonus

Scotland - Controllers/Finance/Accounting/Treasury
Director/SVP/Head of Department 80k 95k 135k 150 - 506 40 - 100% bonus
Senior Manager/VP 70k 85k 90k 263 - 337 15 - 40% bonus
Manager/AVP 50k 60k 60k 187 - 225 10 - 30% bonus
Analyst/Associate 30k 45k 50k 112 - 187 5-15% bonus

Governance (Internal Audit, Compliance, Regulation and Risk Management) \"

Director/SVP/Head of Department 90k 150k 150k 337 - 563 30 - 50% bonus
Senior Manager/VP 80k 100k 100k 300 - 375 10 - 40% bonus
Manager/AVP 65k 80k 80k 244 - 300 10 - 30% bonus
Analyst/Associate 45k 65k 65k 168 - 244 5 - 10% bonus

Scotland - Governance (Internal Audit, Compliance, Regulation and Risk Management) \"
Director/SVP/Head of Department 80k 95k 140k 300 - 525 30 - 50% bonus
Senior Manager/VP 70k 85k 90k 263 - 337 10 - 40% bonus
Manager/AVP 50k 60k 60k 187 - 225 10 - 30% bonus
Analyst/Associate 30k 45k 50k 112 - 187 5 - 10% bonus

Operations/Trade Support
Director/SVP/Head of Department 100k 140k 140k 375 - 525 30 - 100% bonus
Senior Manager/VP 70k 105k 105k 263 - 393 30 - 50% bonus
Manager/AVP 40k 65k 65k 150 - 244 0 - 30% bonus
Analyst/Associate 35k 45k 45k 131 - 169 0 - 30% bonus

Scotland - Operations/Trade Support

Director/SVP/Head of Department 80k 95k 135k 300 - 506 30 - 100% bonus
Senior Manager/VP 70k 85k 90k 263 - 337 30 - 50% bonus
Manager/AVP 50k 60k 60k 187 - 225 0 - 30% bonus
Analyst/Associate 30k 45k 50k 112 - 187 0 - 30% bonus

Support functions
Pension, life, bonus, car
Facility Management - Manager 50k 65k 75k 187 - 281
allowance
HR - Manager 40k 55k 65k 150 - 244 Benefits package
HR - Administrator 18k 21k 24k 75 - 105 n/a
Legal - Paralegal 30k 40k 48k 112 - 180 Benefits package
Legal - Contracts Manager 35k 50k 65k 131 - 244 Benefits package
Marketing - Marketing Manager 45k 55k 65k 250 - 250 Bonus circa 20% plus benefits
Sales - Business Development
35k 40k 45k 131 - 169 OTE 60k - 70k
Manager
Secretarial - Executive Assistant 38k 40k 45k 150 - 165 Benefits package
Secretarial - Receptionist 20k 25k 30k 75 - 90 Benefits package