Beruflich Dokumente
Kultur Dokumente
2015
Message from CEO
Some questions I have been asking.
What if every day everyone in London woke up excited about going to work? What would the impact be on
business performance if everyone was engaged in their jobs? What would the impact be on people’s performance
levels if employers looked after their people?
There are a whole host and combination of factors when trying to answer these questions but the message is
clear…more and more people are choosing work life and wellbeing, and would stay with their existing employer if
they felt supported, looked after and could see progress and opportunity.
However, financial rewards remain one of the most important factor, the 21,000 finance professionals we met last
year in our office have shared this message. It is also the reason we have been able to collate this data. We hope
you find it useful!
Enjoy a fabulous 2015 and make sure you wake up excited about going to work!
Guy Hayward
CEO – Goodman Masson
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About Goodman Masson
With a team of over 130, Goodman Masson is the largest financial recruitment business in London, and has been recruiting professionally qualified
accountants and other finance professionals for over 20 years.
Based in London and Düsseldorf, we hold annual revenues exceeding £29 million and operate purely within the specialism of Finance; covering
Accounting, Tax, Treasury, Internal Audit, Risk, Change, Operations, Compliance, Actuarial, Corporate Finance, Management Consultancy and Public
Practice.
Goodman Masson is a preferred supplier to over 290 companies across the UK and Ireland, including 80 of the FTSE 100 corporations.
Building an environment for our employees to enjoy and progress remains central to everything we do. We call this “The Experience ®”, and in January
2014 the UK Intellectual Property Office recognised “The Experience®” as a registered trademark...formal recognition of the uniqueness of our employee
engagement philosophy.
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Contents
Specialist Divisions
Accountancy & Finance / Actuarial
Commerce & Industry Private Equity –
Qualified Finance Director
NHS & Government
Energy & Utilities
Charity
IT & Telecoms
Internal Audit
Media Professional Services Tax In-house
Property & Construction
Management Consultancy Tax Practice Banking & Financial
Retail, FMCG & Leisure Services
Part Qualified & Advisory Treasury
Transactional Audit & Assurance Compliance Overview
Accountancy & Finance
Accountancy & Finance /
Commerce & Industry
Qualified
Energy & Utilities
IT & Telecoms
Media
Property & Construction
Retail, FMCG & Leisure
Part Qualified &
Transactional
“All the major vertical markets recruited with significant
activity in Retail, Technology and Oil & Gas. Of encouraging
note, was the rise of vacancies in the Property and
Construction sectors.”
Robert Baker
Divisional Director, Permanent,
Industry & Commerce
Accountancy & Finance / Qualified
Qualified
2014 was overall a positive year, where Whereas we are seeing increased job flow, Over the last few years, this level of candidate
we have continued to see an uplift of the same cannot be said for candidates who has been given significant more responsibility
confidence amongst our clients, with are actively searching for new roles. This is – many as a consequence of cost cutting in
them continuing to hire and increase job not down to desire but awareness. There is middle management – yet a large majority have
flow. The first half of the year followed confidence and conviction amongst candidates not received the financial reward. When moving
the trend of the end of 2013, which saw a to make their next move; we are also seeing jobs, there is an inflated level of expectation,
marked difference, resulting in 21% more cases of a domino effect, with candidates where candidates who would typically receive
jobs being registered compared to the seeing fellow colleagues finding new roles, 8 – 13% pay rise now expect 15 – 20%.
previous year in that period. but we are yet to see candidates numbers fully
align to our current volume of vacancies. This Predicting 2015 is a difficult thing to do;
All the major vertical markets recruited with is having a knock on effect for our clients’ time the general indication is that the year will
significant activity in Retail, Technology and to hire, which has increased by an average of again be positive, with increasing consumer
Oil & Gas. Of encouraging note was the rise 19%. Educating clients to consider candidates confidence, unemployment decreasing and
of vacancies in the Property and Construction with highly relevant skill sets and culture fit, but general financial stability in comparison to years
sectors. The roles were varied, ranging from not direct sector experience continues to be a gone by. However, there is a definite note of
technical accounting roles, such as “financial challenge. caution with General Election looming in May
accounting” and “group accounting”, through and Europe’s current financial performance.
to commercial “business partnering” and FP & A Overall, last year we saw average salaries The UK is going in the right direction, and this
roles. The market is still showing an increased increasing. This is in part due to the above, year has again been encouraging. We expect
need for strong commercial accountants (up where candidates continued to have multiple 2015 to deliver similar conditions and resulting
12% on last year) who have the ability to liaise opportunities, resulting in competitive situations performance.
with sales and marketing directors to explain and received inflated salary offers. At the junior
their business’ performance. manager level in particular, this was stark.
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Accountancy & Finance / Qualified
page 9
Accountancy & Finance / Energy & Utilities
page 10
Accountancy & Finance / Energy & Utilities
Perm Temp (p / d) Perm Temp (p / d) Perm Temp (p / d) Perm Temp (p / d)
Mid Cap £45,000 – £50,000 £250 – £275 £50,000 – £55,000 £275 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Financial Accountant
Multi-national £48,000 – £55,000 £275 – £300 £52,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £275 – £300 £50,000 – £55,000 £270 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Group Accountant
Multi-national £48,000 – £55,000 £275 – £325 £52,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £250 – £275 £50,000 – £55,000 £270 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Management Accountant
Multi-national £48,000 – £55,000 £275 – £300 £52,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £250 – £275 £52,000 – £57,000 £270 – £325 £60,000+ £325 – £375 £60,000+ £350 – £400
Finance Analyst
Multi-national £48,000 – £55,000 £275 – £325 £54,000 – £60,000 £300 – £350 £60,000+ £350 – £450 £60,000+ £375 – £475
Mid Cap £50,000 – £55,000 £250 – £300 £52,000 – £60,000 £300 – £350 £60,000 – £75,000+ £325 – £375 £70,000 – £90,000 £350 – £400
Finance Manager
Multi-national £52,000 – 57,000 £325 – 375 £55,000 – £65,000 £325 – £375 £60,000 – £80,000 £350 – £400 £75,000 – £90,000 £375 – £425
Mid Cap – – £50,000 – £70,000 £300 – £350 £65,000 – £80,000 £350 – £450 £70,000 – £120,000 £400 – £500
Financial Controller
Multi-national – – £55,000 – £75,000 £325 – £375 £65,000 – £80,000 £375 – £500 £75,000 – £120,000 £450 – £700
Mid Cap – – £65,000 – £85,000 £400 – £475 £75,000 – £120,000 £500 – £700 £85,000 – £150,000 £500 – £1,000
Finance Director
Multi-national – – – £400 – £500 £80,000 – £150,000 £500 – £1,000 £120,000+ £500 – £2,000
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Accountancy & Finance / IT & Telecoms
IT & Telecoms
2014 was an excellent year for Goodman Another interesting trend has been the number payment solutions and wealth management
Masson’s IT & Telecoms sector as we of “newly created” roles across both large software. From a recruitment perspective,
showed 41% revenue growth. This growth corporates and SME businesses. I commented finance vacancies within the FS sector are 35%
can be traced back to mid-late 2013, in last year’s edition that the tone of our up on last year, which perhaps is reflective of
when we first started to notice increased conversations with clients was changing from renewed confidence and growth within the
job flow as the market began to gain “hire to replace” towards “hire to grow”. This banking market. Technological support in
momentum. manifested itself in 2014, with an astonishing banking institutions plays a key part in their
49% of roles placed this year by Goodman success, so it appears their growth has allowed
Again, we saw a huge contribution from the Masson in IT & Telecoms being newly created. them to invest again in services that support
SME sector, with one third of our placements It will certainly be interesting to see if this trend that success.
being into businesses turning over £300m continues in 2015.
or less. Perhaps, in part, this was due to an
initiative we put in place to track things such A key growth market has been the FinTech
as the Techtrack 100 and Deloitte’s Technology sector; Technology for the Financial Services
Fast 50. However, I believe this can also be industry such as trading platforms, online
attributed to a number of government initiatives
put in place over recent years to make it easier
for startups to thrive in London, initiatives
such as tax breaks for investors in early stage
businesses. These startups could now be feeling
the benefit of these breaks, and therefore
feeling more confident in hiring.
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Accountancy & Finance / IT & Telecoms
Perm Temp (p / d) Perm Temp (p / d) Perm Temp (p / d) Perm Temp (p / d)
Mid Cap £45,000 – £50,000 £250 – £275 £50,000 – £55,000 £270 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Financial Accountant
Multi-national £48,000 – £55,000 £250 – £275 £52,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £275 – £300 £50,000 – £55,000 £270 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Group Accountant
Multi-national £48,000 – £55,000 £275 – £300 £52,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £250 – £275 £50,000 – £55,000 £270 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Management Accountant
Multi-national £48,000 – £55,000 £250 – £275 £52,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £250 – £275 £52,000 – £57,000 £270 – £325 £60,000+ £325 – £375 £60,000+ £350 – £450
Finance Analyst
Multi-national £48,000 – £55,000 £250 – £275 £54,000 – £60,000 £300 – £350 £60,000+ £350 – £450 £60,000+ £375 – £475
Mid Cap £50,000 – £55,000 £250 – £300 £52,000 – £60,000 £300 – £350 £60,000 – £75,000+ £325 – £375 £70,000 – £90,000 £350 – £400
Finance Manager
Multi-national £50,000 – £60,000 £300 – £350 £55,000 – £65,000 £325 – £375 £60,000 – £80,000+ £350 – £400 £75,000 – £95,000 £375 – £425
Mid Cap – – £50,000 – £70,000 £300 – £350 £65,000 – £80,000 £350 – £450 £70,000 – £120,000 £400 – £500
Financial Controller
Multi-national – – £55,000 – £75,000 £325 – £375 £65,000 – £80,000 £375 – £500 £75,000 – £120,000 £450 – £700
Mid Cap – – £65,000 – £85,000 £400 – £475 £75,000 – £120,000 £500 – £700 £85,000 – £150,000 £500 – £1,000
Finance Director
Multi-national – – – £400 – £500 £80,000 – £150,000 £500 – £1,000 £120,000+ £500 – £2,000
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Accountancy & Finance / Media
Media
Confidence in the media sector across the Despite this progress, agility in adapting to An exciting trend that formed in the second
board has remained strong throughout rapid changes to the technological and digital half of 2013 is the doubling in senior level
2014, with year on year increases in both landscape remains a challenge for companies vacancies from the same time the previous year,
the number of vacancies, up 21%, and in the media sector. This has resulted in some as confidence continues to surge at this end of
revenue, up 36%. Continued technological inconsistency in hiring patterns throughout the market.
innovation and diversification, particularly 2014.
within the digital space, are building In light of Q4 looking to significantly exceed
stability in what has been a turbulent Global media and entertainment businesses are revenue forecasts, we anticipate 2015 to be a
sector in previous years. achieving substantial growth from capitalising very good year for the media sector, with many
on partnerships and acquisitions across the of our key clients planning increased investment
Unsurprisingly, a notable increase in vacancies emerging markets, resulting in investment in in finance talent in support of strategic growth.
has been within the digital marketing and headcount in UK based finance teams. We have
advertising space, up 35% in 2014. This trend achieved a 42% increase in placements into
is expected to continue, with internet access media and entertainment businesses in 2014,
growing at 6.4% annually, and analysts with more than 60% of those being regionally
forecasting internet advertising to grow at focused roles.
an impressive 12% annually – making the UK
the largest internet advertising market within
EMEA.
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Accountancy & Finance / Media
Perm Temp (p / d) Perm Temp (p / d) Perm Temp (p / d) Perm Temp (p / d)
Mid Cap £46,000 – £52,000 £250 – £275 £52,000 – £60,000 £270 – £325 £60,000+ £325 – £375 £60,000+ £325 – £400
Financial Accountant
Multi-national £48,000 – £55,000 £250 – £275 £55,000 – £65,000 £300 – £350 £60,000+ £350 – £450 £60,000+ £350 – £400
Mid Cap £46,000 – £52,000 £275 – £300 £52,000 – £60,000 £270 – £325 £60,000+ £325 – £375 £60,000+ £325 – £400
Group Accountant
Multi-national £48,000 – £55,000 £275 – £300 £55,000 – £65,000 £300 – £350 £60,000+ £350 – £450 £60,000+ £350 – £400
Mid Cap £46,000 – £52,000 £250 – £275 £52,000 – £60,000 £270 – £325 £60,000+ £325 – £375 £60,000+ £325 – £400
Management Accountant
Multi-national £48,000 – £55,000 £250 – £275 £55,000 – £65,000 £300 – £350 £60,000+ £350 – £450 £60,000+ £350 – £400
Mid Cap £48,000 – £55,000 £250 – £275 £55,000 – £65,000 £270 – £325 £65,000+ £325 – £375 £65,000+ £350 – £400
Finance Analyst
Multi-national £50,000 – £55,000 £250 – £275 £58,000 – £70,000 £300 – £350 £65,000+ £350 – £450 £65,000+ £375 – £475
Mid Cap £50,000 – £55,000 £250 – £300 £55,000 – £65,000 £300 – £350 £65,000 – £80,000 £325 – £375 £70,000 – £90,000 £350 – £400
Finance Manager
Multi-national £50,000 – £58,000 £250 – £300 £58,000 – £68,000 £325 – £375 £65,000 – £80,000 £350 – £400 £75,000 – £95,000 £375 – £425
Mid Cap – £65,000 – £75,000 £300 – £350 £70,000 – £85,000 £350 – £450 £75,000 – £120,000 £400 – £500
Financial Controller
Multi-national – – £65,000 – £80,000 £325 – £375 £70,000 – £85,000 £375 – £500 £80,000 – £120,000 £450 – £700
Mid Cap – – £65,000 – £85,000 £400 – £475 £80,000 – £120,000 £500 – £700 £90,000 – £150,000 £500 – £1,000
Finance Director
Multi-national – – – £400 – £500 £85,000 – £150,000 £500 – £1,000 £120,000+ £500 – £2,000
Media – SME
Role Perm Temp (p / d)
page 15
Accountancy & Finance / Property & Construction
page 16
Accountancy & Finance / Property & Construction
Perm Temp (p / d) Perm Temp (p / d) Perm Temp (p / d) Perm Temp (p / d)
Mid Cap £45,000 – £50,000 £250 – £275 £50,000 – £55,000 £275 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Financial Accountant
Multi-national £48,000 – £55,000 £275 – £300 £52,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £275 – £300 £50,000 – £55,000 £270 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Group Accountant
Multi-national £48,000 – £55,000 £275 – £325 £52,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £250 – £275 £50,000 – £55,000 £270 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Management Accountant
Multi-national £48,000 – £55,000 £275 – £300 £52,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £250 – £275 £52,000 – £57,000 £270 – £325 £60,000+ £325 – £375 £60,000+ £350 – £400
Finance Analyst
Multi-national £48 – 55,000 £275 – £325 £54,000 – £60,000 £300 – £350 £60,000+ £350 – £450 £60,000+ £375 – £475
Mid Cap £50,000 – £55,000 £250 – £300 £52,000 – £60,000 £300 – £350 £60,000 – £75,000+ £325 – £375 £70,000 – £90,000 £350 – £400
Finance Manager
Multi-national £52,000 – £57,000 £325 – 375 £55,000 – £65,000 £325 – £375 £60,000 – £80,000 £350 – £400 £75,000 – £90,000 £375 – £425
Mid Cap – – £50,000 – £70,000 £300 – £350 £65,000 – £80,000 £350 – £450 £70,000 – £120,000 £400 – £500
Financial Controller
Multi-national – – £55,000 – £75,000 £325 – £375 £65,000 – £80,000 £375 – £500 £75,000 – £120,000 £450 – £700
Mid Cap – – £65,000 – £85,000 £400 – £475 £75,000 – £120,000 £500 – £700 £85,000 – £150,000 £500 – £1,000
Finance Director
Multi-national – – – £400 – £500 £80,000 – £150,000 £500 – £1,000 £120,000+ £500 – £2,000
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Accountancy & Finance / Retail, FMCG & Leisure
page 18
Accountancy & Finance / Retail, FMCG & Leisure
Perm Temp (p / d) Perm Temp (p / d) Perm Temp (p / d) Perm Temp (p / d)
Mid Cap £45,000 – £50,000 £250 – £275 £50,000 – £55,000 £270 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Financial Accountant
Multi-national £45,000 – £53,000 £250 – £275 £53,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £275 – £300 £50,000 – £55,000 £270 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Group Accountant
Multi-national £45,000 – £53,000 £275 – £300 £53,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £250 – £275 £50,000 – £55,000 £270 – £325 £55,000+ £325 – £375 £55,000+ £325 – £400
Management Accountant
Multi-national £45,000 – £53,000 £250 – £275 £53,000 – £60,000 £300 – £350 £55,000+ £350 – £450 £55,000+ £350 – £400
Mid Cap £45,000 – £50,000 £250 – £275 £52,000 – £58,000 £270 – £325 £60,000+ £325 – £375 £60,000+ £350 – £450
Finance Analyst
Multi-national £45,000 – £52,000 £250 – £275 £54,000 – £60,000 £300 – £350 £60,000+ £350 – £450 £60,000+ £375 – £475
Mid Cap £50,000 – £60,000 £250 – £300 £52,000 – £60,000 £300 – £350 £60,000 – £75,000+ £325 – £375 £70,000 – £90,000 £350 – £400
Finance Manager
Multi-national £52,000 – £60,000 £300 – £350 £55,000 – £65,000 £325 – £375 £60,000 – £80,000+ £350 – £400 £75,000 – £95,000 £375 – £425
Mid Cap – – £50,000 – £70,000 £300 – £350 £70,000 – £90,000 £350 – £450 £70,000 – £120,000 £400 – £500
Financial Controller (Group)
Multi-national – – £55,000 – £75,000 £325 – £375 £70,000 – £90,000 £375 – £500 £75,000 – £120,000 £450 – £700
Mid Cap – – £70,000 – £90,000 £400 – £475 £85,000 – £120,000 £500 – £700 £90,000 – £150,000 £500 – £1,000
Finance Director
Multi-national – – – £400 – £500 £90,000 – £150,000 £500 – £1,000 £120,000+ £500 – £2,000
Chief Financial Officer Multi-national – – – – £200,000+ £1,000+ £140,000 £500 – £1,000
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Accountancy & Finance / Part Qualified & Transactional
page 20
Accountancy & Finance / Part Qualified & Transactional
Part Qualified
Role Foundation Studier Intermediate Studier Top Level Studier Temp (p / h)
Transactional
Role Perm Temp (p / h)
page 21
Professional Services
Professional Services
Management Consultancy
Public Practice
Advisory
Audit & Assurance
“The management consulting market is the strongest it has
been for 4 years, and expectations for further growth in
these areas are certainly resoundingly positive.”
Richard Smith
Director, Industry & Commerce, Public Practice
and Management Consultancy
Professional Services / Management Consultancy
Management Consultancy
2014 followed a continued trend of growth Whereas previously strong “generalists” Having surveyed a number of clients, it is
to that of 2013. Projects wins and pipeline hires were made, the focus shifted toward anticipated that 2015 will be another good year,
was generally up (circa 10%) across all seeking those with specific specialist skills with large hiring plans and continued turnover
firms, resulting in a buoyant hiring market. and knowledge in response to the current driven by the exit of consultants to industry;
“hot topics” of the day. For financial services looking to cut out the travel demands placed
Multiple hires at all levels were made across consulting, risk and regulatory restructuring upon them in their current consulting position.
both the Financial Services and Private Sector skills were in demand, and within the private
consulting teams. Companies paid premiums to sector, cost reduction, especially surrounding
secure and retain the best talent in the market, LEAN, and shared service experience were
and in some rare occasions were offering sign often requested. Additionally, the demand
on bonuses to secure their target candidate. for consultants with public sector experience
Within Financial services, technical areas with – especially within the healthcare and central
Risk consultancy saw demand grow by about government arena – has been greater than we
20%, and at the Manager and Senior Manager have seen since pre-recession.
grade salaries became more in line with the
Banks, in order to be competitive and secure
the right talent.
page 24
Professional Services / Management Consultancy
Management Consultancy
Role Financial and Strategy Change Management
Performance Management
page 25
Professional Services / Public Practice – Advisory
Advisory
Following the trend of last year, advisory Corporate Finance recruitment remained steady, rises. There are a number of new Forensic
recruitment remained consistent with Top 20 and boutique and accountancy boutiques which have been set up in 2014.
throughout 2014, a steady uplift in firms being active throughout the year. Hot These offer Big 4 Forensic candidates a different
demand was present, and 2015 is already spots have tended to be at the Manager and option to develop their career.
set to continue this prosperous growth. Senior Manager grades in the Top 10 practices,
That said, the market is ever more and at the more junior grades in the boutique It is worth noting that whilst demand is set
competitive in terms of attracting and firms. Market indicators continue to be to remain strong, the pool of good advisory
retaining the best talent, and candidates driven very positively by improving economic candidates is limited, and therefore both
meaning the firm – supplier partnership conditions and interest rates remaining low. hiring processes and remuneration offered
need to be tighter than ever. Registration of corporate finance candidates will need to be excellent to avoid losing out to
saw an uplift across the year, as they explore competitors in the market.
What perhaps was most noticeable across both options available both in practice and within
mid-tier and large practices was the significant industry.
recruitment drive in Internal Audit, as they grow
both their public and private service offerings. The Forensic market is currently very active. The
As far as 2015 is concerned, with business market itself is currently “candidate short”, with
growth driving demand, we expect the demand a greater level of requirements than candidates.
for this area to remain robust, especially within This is due to a very buoyant market, with the
financial services and Public Sector. This was an majority of firms looking to grow as demand
area which remained subdued for early 2014,
reflective of the governments previous austerity
drive. We are already seeing the Big 4 and Top
10 firms strongly competing for the dearth of
candidates available.
page 26
Professional Services / Public Practice – Advisory
page 27
Professional Services / Public Practice – Audit & Assurance
page 28
Professional Services / Public Practice – Audit & Assurance
External Audit
Role ACA ACCA
Salaried Partner £100,000 – £200,000 £100,000 – £160,000 £90,000 – £160,000 £80,000 – £150,000
Senior Audit Manager £70,000 – £100,000 £65,000 – £90,000 £65,000 – £90,000 £65,000 – £90,000
Audit Manager £55,000 – £65,000 £50,000 – £65,000 £52,000 – £62,000 £50,000 – £58,000
Assistant Audit Manager £46,000 – £53,000 £44,000 – £50,000 £44,000 – £50,000 £43,000 – £49,000
Audit Senior £38,000 – £46,000 £37,000 – £44,000 £37,000 – £44,000 £36,000 – £43,000
ACA / ACCA Finalist £33,000 – £38,000 £30,000 – £34,000 £33,000 – £38,000 £32,000 – £37,000
page 29
Specialist Divisons
Specialist Divisions
Actuarial
Private Equity –
Finance Director
NHS & Government
Charity
Internal Audit
Tax In-house
Tax Practice
Treasury
Compliance
“2014 saw the emergence of a more settled economy,
resulting in our specialist areas receiving an increase in
job flow. As we enter 2015, we are likely to see more
confidence in the market.”
Andrew Webster Garvey
Divisional Director, Public Sector
Specialist / Actuarial
Actuarial
2014 has been a very busy year for Pensions summer months we saw a lot of consultancies
actuarial recruitment – we have seen a The Pensions market has seen a consistently hiring into the manager research teams, plus
huge 40% increase in placements vs 2013. busy year from a hiring perspective. Traditional some more traditional consulting roles. Within
A key area of growth has been the Bulk consultancies have been hiring at all levels, from asset management, there was demand to hire
Annuity market – bulk sales are growing part qualified up to Senior Scheme Actuaries, in client relations, LDI structuring, consultant
fast, and provide opportunities to offset with a particular focus on the nearly / newly relations and distribution. This hiring allowed
decline in individual annuity sales. Life & qualified level. Many traditional consultants for upskilling, as well as improving client
Pensions actuaries are moving into these have made the move to more commercial, services by increasing the number of technical
teams within all of the key players. corporate focused roles within the Big 4, with experts on hand.
three of the four continuously hiring throughout
Life Insurance the year as a result of strong growth. Insurers’ General Insurance
In 2014, the market has improved significantly. bulk annuity offerings have proven to be a The General Insurance market has been very
After a period of much planning restructuring, significant revenue stream for the future, and buoyant this year, with the majority of the
the majority of life insurers have significantly we have seen a number of pensions actuaries jobs around Capital Modelling in both the
increased permanent hiring, particularly move to insurance within this space. London Market and large Retail Insurers. Big 4
at newly qualified level and above. The and smaller boutique consultancies alike have
consultancies have overcome recent challenges, Investments heavily invested in increasing their headcount
and as a result of seeing the benefit of The Investment market got off to a good across Capital Modelling, Reserving and Pricing.
increasing business development in wider areas start in 2014. Interview numbers peaked in Contract opportunities across the London
beyond solvency ii over the last 12 months, February and April, reflecting the initial push Market have started to appear more frequently,
the majority of the consultancies have begun to increase numbers early in the year, and then and we expect this to continue for the next 18
hiring from assistant manager up to Senior to replace those who moved on once bonuses months, with an increased demand for Model
Manager / Director level, plus one or two key were paid. They peaked again in October, but Validation, Governance and Documentation
Partner moves. Another positive sign is that the whole year has been busier than 2013 in assignments to be completed for 2016.
even insurers most directly impacted by the terms of job flow. Within the consultancies,
changes to retirement planning brought on by there was a noticeable increase in demand
the budget have been hiring in H2. for DC Consultants at all levels, and over the
page 32
Specialist / Actuarial
Actuarial
LEVEL
Junior (0 – 2 yrs) Part Qualified Nearly / Newly Qualified Qualified (2 – 4 yrs) Senior Qualified
Life London £25,000 – £37,000 £35,000 – £55,000 £55,000 – £68,000 £68,000 – £90,000 £100,000+
South East £24,000 – £36,000 £34,000 – £50,000 £50,000 – £62,000 £62,000 – £85,000 £90,000+
South West £23,000 – £35,000 £32,000 – £45,000 £45,000 – £60,000 £60,000 – £80,000 £85,000+
South Coast £23,000 – £35,000 £32,000 – £45,000 £45,000 – £60,000 £60,000 – £80,000 £85,000+
Midlands £23,000 – £35,000 £30,000 – £42,000 £45,000 – £58,000 £58,000 – £78,000 £80,000+
North £22,000 – £34,000 £30,000 – £42,000 £45,000 – £58,000 £56,000 – £75,000 £80,000+
Scotland £22,000 – £34,000 £30,000 – £42,000 £45,000 – £58,000 £56,000 – £75,000 £80,000+
GI London £30,000 – £40,000 £36,000 – £55,000 £65,000 – £100,000 £90,000 – £120,000 £130,000+
South East £25,000 – £35,000 £35,000 – £50,000 £50,000 – £75,000 £75,000 – £100,000 £110,000+
South West £24,000 – £34,000 £34,000 – £46,000 £50,000 – £75,000 £75,000 – £100,000 £110,000+
Midlands £24,000 – £32,000 £32,000 – £46,000 £50,000 – £70,000 £70,000 – £85,000 £90,000+
North £22,000 – £35,000 £32,000 – £44,000 £45,000 – £65,000 £75,000 – £90,000 £100,000+
Scotland £22,000 – £35,000 £32,000 – £44,000 £45,000 – £60,000 £65,000 – £85,000 £90,000+
Pensions London £28,000 – £36,000 £36,000 – £48,000 £48,000 – £65,000 £65,000 – £80,000 £80,000+
South East £25,000 – £34,000 £34,000 – £46,000 £46,000 – £62,000 £62,000 – £80,000 £80,000+
South West £22,000 – £33,000 £33,000 – £44,000 £44,000 – £60,000 £58,000 – £75,000 £75,000+
Midlands £22,000 – £33,000 £3,000 – £44,000 £44,000 – £58,000 £58,000 – £75,000 £75,000+
North £22,000 – £33,000 £33,000 – £44,000 £44,000 – £58,000 £58,000 – £75,000 £75,000+
Scotland £22,000 – £33,000 £33,000 – £44,000 £44,000 – £58,000 £58,000 – £75,000 £75,000+
Investment London £22,000 – £34,000 £30,000 – £42,000 £40,000 – £58,000 £56,000 – £75,000 £60,000+
South East £28,000 – £35,000 £36,000 – £48,000 £48,000 – £65,000 £60,000 – £80,000 £80,000+
South West £22,000 – £33,000 £33,000 – £45,000 £45,000 – £60,000 £60,000 – £80,000 £80,000+
Midlands £22,000 – £33,000 £33,000 – £45,000 £45,000 – £60,000 £60,000 – £75,000 £75,000+
North £23,000 – £35,000 £33,000 – £45,000 £45,000 – £60,000 £60,000 – £75,000 £75,000+
Scotland £22,000 – £33,000 £33,000 – £45,000 £45,000 – £60,000 £60,000 – £75,000 £75,000+
page 33
Specialist / Private Equity – Finance Director
page 34
Specialist / Private Equity – Finance Director
Private Equity
Role Salary Bonus Equity
page 35
Specialist / Public Sector & Not-For-Profit – NHS & Government
page 36
Specialist / Public Sector & Not-For-Profit – NHS & Government
NHS – Interim
1 – 2 years 2 – 4 years 4 – 6 years 6 years+
Management / Financial Accountant £200 – £220 (p / d) £250 – £300 (p / d) £300 – £350 (p / d) £400+ (p / d)
Finance Analyst £200 – £220 (p / d) £250 – £350 (p / d) £350 – £450 (p / d) £450+ (p / d)
Project Accountant £200 – £250 (p / d) £250 – £350 (p / d) £350 – £500 (p / d) £450+ (p / d)
Finance Manager – £300 – £450 (p / d) £450 – £550 (p / d) £550+ (p / d)
Head of MA/FA – – £400 – £500 (p / d) £500+ (p / d)
Financial Controller – – £400 – £500 (p / d) £500+ (p / d)
Head of Finance – – £450 – £500 (p / d) £500+ (p / d)
Deputy Finance Director – – – £600+ (p / d)
Finance Director – – – £700+ (p / d)
Chief Executive – – – £900+ (p / d)
NHS – Perm
Perm as of April 2013
page 37
Specialist / Public Sector & Not-For-Profit – Charity
Charity
The charity finance market has improved Larger charities are increasingly raising salaries, and “business development”, which appeal to
considerably over the course of 2014, with which both attracts a higher volume of candidates who are seeking a business-facing
recruitment across both temporary and candidates and accelerates the process from role that impacts decision making. As a result,
permanent markets reaching the volume of advertisement to offer. Small-to-medium 87.5% of the roles placed into charity clients in
pre-recession levels. charities are at a disadvantage, and so are 2014 were with candidates from private sector
having to become more creative in developing businesses.
Whilst smaller charities are still reeling from the their recruitment campaigns. We have been
impact of the recession, there are more charities working in partnership with our clients to Whilst we are optimistic about the future of the
who have diversified their income streams and develop more innovative ways of attracting high charity recruitment market, we are conscious
invested in their digital fundraising efforts. As calibre candidates, such as our hugely popular of the consistent cost challenges faced by
a result, with more charities playing a greater seminars and hiring events. our clients. It is therefore vital to build lasting
role in providing public services, increased relationships with clients and candidates to
public donations and more investment from With that said, as the commerciality of the provide a comprehensive and consultative
government, we are seeing charities with the charity sector grows, we are seeing heightened service, to better support our clients in selecting
confidence to invest in both temporary and interest from candidates currently working in the right skill set and cultural fits for their
permanent posts. the private sector, who are looking for a good teams.
commercial role in a business that will provide
We are also experiencing heightened levels of them with more job satisfaction. Increasingly,
recruitment across other sectors, resulting in job descriptions in the charity sector are using
escalating competition for candidates. Private more commercial key words such as “business
sector companies are responding to this by partner”, “strategic”, “commercial analysis”
offering higher rates and salaries in order to
gain the edge on competitors. Many businesses
are raising PSL rates in order to entice agencies
into giving first refusal for the best candidates.
page 38
Specialist / Public Sector & Not-For-Profit – Charity
Charity – Perm
Role PQE
Charity – Temp
Role PQE
Management Accountant £25 – £30 £28 – £32 £30 – £35 £32 – £40
Financial Accountant £25 – £30 £28 – £32 £30 – £35 £32 – £40
Finance Analyst £25 – £30 £30 – £37 £35 – £45 £45+
Finance Manager – £200 – 300 (p / d) £300+ (p / d) –
Financial Controller – – £350 – 500 (p / d) £450+ (p / d)
Head of Finance – – – £450+ (p / d)
Finance Director – – – £550 – 1000 (p / d)
page 39
Specialist / Internal Audit
Internal Audit
2014 has been a very busy time for the Hiring trends across 2014 have been pretty One of the biggest trends throughout 2014
Commerce & Industry Internal Audit consistent with that of 2013. The senior end has been the change in attitude at newly
market. As a team, we have seen further of the market has seen some level of up-turn, qualified level. It appears that the large practice
growth in job flow throughout 2014, with however the number of Head of Audit positions firms are investing more time and resource to
a 15% increase of live vacancies registered released to market remains fairly conservative. keeping their newly / recently qualified staff, by
in 2013. We have seen an increase in the number of offering retention bonuses and secondment
organisations approaching Director / Partner opportunities. This in turn is making recruiting
The return to economic growth has certainly level candidates directly from the Big 4 to make at newly qualified level more competitive,
fuelled the upturn in activity, with businesses the move across to in-house Head of Audit resulting in Industry businesses paying more
actively looking to increase headcount within positions. for candidates at this level. Newly qualified
their Internal Audit team, as opposed to purely candidates can now expect base salaries in the
replacing leavers. This trend is apparently across With the increase and advancement of region of £47,000 – £50,000, up from £45,000
most sectors, with possibly the exception of the technology within business today, Internal in recent years.
Construction sector, which has remained a little Audit departments are seeking to increase their
flat throughout 2014. in-house capability within IT Audit / Information Salaries, in general, for Internal Audit
Security, and are investing more on managing professionals have increased across all sectors.
Heads of Audit are still focusing their efforts their technology risks. The demand for skilled This is down to the upturn in the market and
on permanent hiring, complimenting their IT Audit candidates is continuing to increase, an increase in the number of opportunities
resources with co-source arrangements if however it is becoming more common for available to candidates. It is now common for
needed, as opposed to using short term businesses to cross train their business auditors, candidates to secure multiple offers, using each
contractors in times of need. helping them achieve their CISA qualification. to increase the level of salaries on offer.
page 40
Specialist / Internal Audit
Internal Audit
Role London (C & I) SE Regions
page 41
Specialist / Tax In-house
Tax In-house
2014 was a strong year for tax recruitment. demand. There was strong demand for activity and a positive increase in salaries. We
Confidence in the general market place candidates who are able to communicate have seen some of our largest clients respond
was high and Goodman Masson’s revenues effectively with layers of non-tax colleagues, all positively to the competition coming from
grew significantly. This growth was also the way up to board level. increased hiring within the accountancy firms,
seen within the in-house tax market. by offering competitive salaries. A number of
With the continued push for global exchange of areas in particular have shown excellent levels
Commerce & Industry Tax tax information, we predict that in 2015 there of activity, for example Operations Tax (FATCA,
Trends, 2013 vs 2014: will be continued growth in the market for the FTT and WHT).
hiring of the specialists mentioned above. We
• 17% increase in Tax Risk Management roles also predict that more Heads of Tax will position The message for 2015 is positive. It is
themselves internally to move into Audit, Risk anticipated that activity levels in financial
• 12% increase in Transfer Pricing roles and Assurance / Group Controls roles, therefore services tax will remain buoyant, operations
increasing their chances of moving in Group tax will continue to provide opportunities
• 8% increase in specialist Tax Accounting Finance roles in the future. Tax has never been as businesses build out their operations
roles as high on the boardroom agenda as it is now. tax offering. We also envisage there to be
consulting and project opportunities around
2014 saw a sharp rise in the number of tax Financial Services Tax Common Reporting Standard (CRS).
risk management, transfer pricing and group
Trends, 2013 vs 2014:
tax accounting positions within Commerce In order for clients to manage cost, we expect
& Industry. With tax transparency, the • 63% of businesses admit to not having a continued activity at the newly qualified and
development of BEPS and a greater push strategy for Operational Taxes Assistant Manager levels. At this stage, we
by the G20 for companies to pay their “fair remain optimistic that the market will continue
share” of tax, CFOs and Heads of Tax are more • 75% increase in Operational Tax roles to move towards the VP level, where there has
than keen / ready to invest in Corporate Tax been sporadic activity over the last 12 months.
governance and controls. • 22% increase in US Tax roles
Candidates who were able to demonstrate Over the last 12 months, the tax market in
experience within these areas were in strong financial services has shown good levels of
page 42
Specialist / Tax In-house
Tax – Commerce & Industry Tax – Banking & Financial Services – Banking (Group Tax)
Role London Home Counties Role Base Salary Bonus
Newly Qualified Tax Specialist £43,000 – £50,000 £40,000 – £47,000 Managing Director / Head of Tax £130,000 – £300,000 30 – 100%
Assistant Tax Manager £50,000 – £55,000 £45,000 – £50,000 Director £110,000 – £190,000 30 – 100%
UK Tax Accountant £40,000 – £55,000 £40,000 – £50,000 Vice President / Senior Manager £75,000 – £115,000 20 – 60%
UK Tax Manager £55,000 – £70,000 £50,000 – £60,000 Assistant VP / Manager £40,000 – £65,000 10 – 50%
European Tax Accountant £58,000 – £65,000 £52,000 – £59,000 Associate / Assistant Manager £25,000 – £58,000 5 – 15%
European Tax Manager £65,000 – £80,000 £60,000 – £70,000
VAT Accountant £30,000 – £50,000 £30,000 – £40,000
VAT Manager £50,000 – £65,000 £45,000 – £60,000
International Tax Manager £65,000 – £110,000 £65,000 – £80,000 Tax – Banking & Financial Services – Financial Services (Group Tax)
Role Base Salary Bonus
Transfer Pricing Analyst £35,000 – £50,000 £35,000 – £45,000
Head of Tax £110,000 – £200,000 30 – 60%
Transfer Pricing Manager £60,000 – £130,000 £60,000 – £75,000
Group Tax Manager £90,000 – £140,000 20 – 50%
Head of Transfer Pricing £80,000 – £130,000 £70,000 – £90,000
Senior Manager £70,000 – £110,000 10 – 30%
Group Tax Manager £65,000 – £110,000 £60,000 – £90,000
Manager £50,000 – £80,000 0 – 20%
Group VAT Manager £65,000 – £90,000 £60,000 – £75,000
Assistant Manager £40,000 – £50,000 0 – 10%
Head of Tax £90,000 – £150,000 £80,000 – £120,000
Director of Tax £120,000 – £200,000 £90,000 – £150,000
page 43
Specialist / Tax Practice
Tax Practice
As anticipated, the second half of 2014 saw • Pressure on fee levels for firms has been very are good technically but do not have this type
a growing number of vacancies among the high in the past 4 – 5 years, impacting on of “practical” experience.
professional services firms, led by the Big profitability
4. The key needs for all Top 10 firms are All of the factors above are genuine; however
newly qualified through to Junior Manager • There is a greater discretionary or bonus we feel 2015 and 2016 will be a gradual
Level in Corporate Tax, Expatriate and element in Big 4, particularly to control increase in salary levels as growth increases
Employment Tax or OMB Tax teams. The overheads demand within a finite pool of talent. Already
Big 4 have achieved significant growth we are seeing a lack of available candidates,
in Tax, and as the battle to retain or add • Inflation has been very low in the past few especially at Assistant Manager and Manager
new staff intensifies, the last 12 months years level.
of improved activity will start to produce
effect on the general salary levels and • The roles on offer are different to periods Trends to follow in order to boost salaries via a
bandings at large firms. before the Global Economic crisis, hence in shorter route to promotion would include the
many cases candidates do not have a CV following:
There has been a noticeable change in attitude, which perfectly matches roles on offer
where firms are demonstrating flexibility in • M&A / Transactional Tax
providing sign on bonuses to candidates. Real life examples of the lack of “matched”
Unsurprisingly, this has had a negative impact skills have included people wanting M&A Tax, • Transfer Pricing / Value Chain Transformation
on existing employees and, as the competition particularly as the market has seemed to be
strengthens, there has been a wave of picking up, with several sizeable newsworthy • Tax management Consulting
impressive counter offers by firms desperately deals taking place over the last 18 months.
attempting to retain staff. • Human Capital Tax
Equally, at more senior levels the key needs
In response to any criticism of flat salaries over from Big 4 and Top 10 include Tax Risk • Performance & Reward
the past 3 – 5 years, firms can obviously point Management and a commercial understanding
to the terrible global economic conditions, of clients’ business, which can prove difficult for • Financial Services Tax
manifesting in several ways including: Senior Managers, Directors and Partners who
page 44
Specialist / Tax Practice
Classic Tax £35,000 – £41,000 £38,000 – £48,000 £53,000 – £62,000 £60,000 – £75,000 £75,000 – £90,000 £90,000 – £115,000 £105,000 – £200,000
Indirect tax £35,000 – £40,000 £42,000 – £50,000 £50,000 – £68,000 £65,000 – £80,000 £85,000 – £115,000 £110,000 – £150,000 £120,000+
Human capital £35,000 – £42,000 £46,000 – £48,000 £50,000 – £58,000 £65,000 – £75,000 £78,000 – £110,000 – £115,000+
International Tax & Tax Consulting £43,000 – £49,000 £53,000 – £62,000 £60,000 – £115,000 £105,000 – £165,000 £130,000 – £205,000 £180,000 – £400,000
M & A Tax £44,000 – £52,000 £52,000 – £70,000 £61,000 – £105,000 £110,000 – £185,000 – £215,000 – £450,000
Indirect Tax £42,000 – £51,000 £52,000 – £69,000 £65,000 – £100,000 £110,000 – £180,000 – £200,000+
Human Capital £42,000 – £49,000 £53,000 – £65,000 £70,000 – £120,000 £105,000 – £300,000 – £180,000+
Please note many Human Capital and Indirect practitioners are also involved with Tax Consulting.
The main disciplines under these Big 4 categories are:
Tax Consulting:
Tax Technology, Operational Effectiveness, Tax Project Management, Tax Risk Management
International Tax:
Transfer Pricing, Value / Supply chain, International Structuring & Advisory
page 45
Specialist / Treasury
Treasury
After a relatively slow start to the year, we An interesting development has been an the banking and financial services sectors.
saw an increase in the number of treasury increased number of vacancies requiring front Organisations further restructured their treasury
job opportunities coming to the market as office experience, something we started to see functions, and are likely to continue doing so,
the year progressed. This also included an during 2013, but this has really come to the therefore we still saw some redundancies taking
improvement at more senior levels. forefront this year. Typically, this is a skillset place. This restructuring did however also lead
that interests candidates at the junior end of to opportunities in some areas of treasury.
Commerce and Industry the market, and is something a large number
It has been a mixed year for the Treasury market of people strive to get involved with. However, Having previously bolstered teams to meet
in 2014. With some notable Group Treasurers this year has seen more businesses not willing the requirements of increased regulation
moving into new roles, this allowed for some to take the risk of developing a back or middle surrounding liquidity management, there
senior end recruitment to flourish, along with office Treasury Analyst, but rather search for continued to be a demand from banks and
an experienced dealer due to the increased financial services organisations for individuals
some interesting deputy Treasurer vacancies
workload, leaving the team unable to be on with this experience. A need for individuals
arising too. In general, at all levels there has
hand to assist with training and developing a with strong technical accounting experience,
certainly been a marked improvement in the
candidate. as well as for treasury professionals with an
market, with a number of big businesses
understanding of a bank’s balance sheet, meant
expanding their Treasury functions as the
Treasury has continued to flourish with more that.
economy has improved.
and more businesses seeing the importance of
having an efficient Treasury function, and either Pleasingly, there was an increasing appetite
One constant that we have seen for the last
expanding it or at the very least creating it. to recruit for vacancies externally, especially
few years has been the need for businesses
at VP and AVP levels. However, more senior
to hire Technical Treasury Accountants who
Treasury: Banking, Financial Services level vacancies were typically sourced internally
have specific hedging experience. As has been
and Commerce & Industry through promotions.
the norm, this skillset has been again in short
supply and, with a further increase in the need Banking & Financial Services
for this at the back end of this year, it shows no After the turbulence of the past few years,
signs of stopping in 2015. 2014 finally saw some stability returning to
page 46
Specialist / Treasury
page 47
Specialist / Compliance
Compliance
Our 2014 market salary report combines With increased regulatory pressure and a We have seen a substantial increase in hiring
our review of the prevailing conditions wave of high-profile fines imposed on banks at the senior level within: payments, insurance,
in the compliance recruitment market, and financial services across the market, 2014 credit card, platform, asset management
together with the results of our 2014 was a busy year in compliance recruitment. and banking. Candidates with niche product
employer survey. The combined results As banks come under increasing scrutiny and knowledge and industry expertise were highly
allow us to report that Compliance is new legislation became live in 2014, we saw sought after, and often still face multiple offer
reacting to the regulatory environment recruitment activity increase. We expect this to scenarios and a marked increase in salary and
and expanding as quickly as talent allows. continue. overall compensation when moving.
There is strong demand in the compliance
recruitment market, and for many of those 2015 will continue to see employers looking Key Trends
looking to recruit, there is a shortage of for first compliance hires in consumer credit
• Financial crime professionals will be in
compliance professionals with the specific markets and additional resources in conduct,
demand, particularly those who can work in
abilities and experience they require. policy, advisory, assurance, trade surveillance
assurance
and financial crime staff, particularly those
• Top Tier Banks are looking at brand overseeing framework controls and systems.
• With global markets picking up,
improvement message to support the
organisations will be looking to recruit trade
attraction of regulatory staff Hiring and salary levels have again increased
surveillance and advisory
with demand and product investment (FX, Fixed
• 51% of compliance directors do not believe Income etc) are increasing faster. Bonuses are
• Compliance is reacting to the regulatory
their department is sufficiently resourced now mainly at the discretionary level. Some
environment and expanding as quickly as
firms are still paying pre-recession bonus levels
talent allows
• 83% of compliance managers’ report they but 90% of new hires have to be educated that
have found it difficult to recruit bonuses cannot be expected at the prerecession
• Due to a widespread skills shortage, hiring
level. 2014 saw a great level of activity within
managers need to act quickly to secure
• 73% of compliance departments stated they the retail banking sector, with major new firms
candidates
will either definitely need to recruit or are entering the UK. From a candidate perspective,
likely to recruit in 2015 these organisations have shown a greater level
of flexibility in its attraction policy.
page 48
Specialist / Compliance
Compliance Analyst £45,000 – £65,000 Compliance Analyst £40,000 – £55,000 Assistant Manager £40,000 – £50,000
Compliance Manager £60,000 – £75,000 Compliance Manager £55,000 – £65,000 Manager £50,000 – £60,000
Senior Compliance Manager £75,000 – £100,000 Senior Compliance Manager £65,000 – £85,000 Senior Manager £60,000 – £90,000
UK Head of Compliance £110,000 – £160,000 UK Head of Compliance £95,000 – £125,000 Directors £90,000 – £130,000
Global Head of Compliance £160,000 – £250,000 Global Head of Compliance £140,000 – £180,000 Partners £120,000 – £220,000+
Financial Crime: AML Sanctions and Fraud Retail Banking / Insurance (Re) Investment and Corporate Banking
Role Salary Role Salary Role Salary
Financial Crime Manager £55,000 – £70,000 Compliance Analyst £40,000 – £60,000 Compliance Analyst £45,000 – £65,000
Head of Financial Crime £100,000 – £160,000 Compliance Manager £55,000 – £70,000 Compliance Manager £70,000 – £85,000
Head of Fraud £95,000 – £130,000 Senior Compliance Manager £65,000 – £90,000 Senior Compliance Manager £85,000 – £110,000
Head of Aml £95,000 – £150,000 UK Head of Compliance £80,000 – £150,000 UK Head of Compliance £110,000 – £140,000
Head of Sanctions £120,000 – £200,000 European Head of Compliance £120,000 – £180,000 European Head of Compliance £140,000 – £220,000
Global Head of Financial Crime £170,000 – £220,000 Global Head of Compliance £1800,000 – £250,000 Global Head of Compliance £250,000 – £350,000
Global Head of Fraud £190,000 – £220,000
Global Head of Aml £180,000 – £225,000
Global Head of Sanctions £220,000 – £300,000 Control Room Front Office
MLRO / CF11 £120,000 – £200,000 Role Salary Role Salary
page 49
Banking &
Financial Services
Banking & Financial
Services
Overview
“The Banking & Financial Services market has finally emerged
blinking into the sunlight after a wholesale hibernation over
the last 5 years. 2014 saw a marked increase in confidence and
hiring across the market.”
Richard Hoar
Director, Banking & Financial Services
Banking & Financial Services / Overview
Overview
For the second successive year, we are able major investment banks, and competition for Client Reporting and roles within Fund Services
to confidently say that the market has talent has been fierce, with several moves have arguably been the busiest areas, alongside
improved, and again look forward with within this area between rivals. Opportunities a steady demand for multi-asset Performance
optimism on what 2015 will bring. Sign off have been prevalent for both BAU TR Analysts. The focus on increasing accurate and
issues and hiring freezes were uncommon processing, TR Oversight, Quality Assurance and frequent monitoring of investments has led to
although not completely eradicated, and Change Management candidates. a rise in reporting specialists at all levels, and
operations managers were often given candidates who also hold niche LDI exposure
budget to replace leavers or to expand The most employable candidates are those have been particularly popular.
their teams rather than just for business at either senior analyst or junior AVP level,
critical hires. degree educated with middle office exposure to The Oversight skill set is still in demand, and we
regulatory projects and a product specialism. have seen a number of clients recruiting Fund
The majority of Operations, hiring takes place at Accountants into this space. Data Management
Senior Analyst or Associate / AVP level, although Roles within Collateral and Clearing have been has also been a busy area, where clients require
this year has seen a rise in VP / Director hiring popular, and collateral optimisation projects experience of monitoring and assessing the
activity, as banks look to attract the top talent have been invested in across the market. performance of agent banks.
from their competitors rather than relying on Candidates with TriOptima experience or CSA
internal moves to save cost. expertise have been in demand. Candidates who hold performance or client
reporting data experience are particularly
Similarly to last year, regulatory pressures For the first time in a number of years, we have sought after, with technical system skills
have been the main driver for recruitment, experienced a slight decline in the number of including VBA or SQL being an advantage.
with major projects focusing on EMIR, MiFID KYC Onboarding and remediation vacancies.
2, CASS, Dodd Frank and FATCA requiring This can be attributed to the drive in recent Notably, we have seen an increase in the
significant headcount. This will not change in years to recruit permanent analysts rather than number of Investment Banking candidates
2015, and a new breed of regulatory specialists short term contract solutions on inflated rates. seeking a career on the buy side, and this
have become extremely employable from an attractive move has also been well received
Operations perspective. Investment Management by clients. Candidates with CFA qualifications
The Investment Management Operations have found their chances of interview
Transaction Reporting and Control divisions market remains buoyant, with multiple hires in increased within most investment management
have been heavily invested in by many of the the same areas. operations teams.
page 52
page 53
Contacts
Goodman Masson
120 Aldersgate Street
London EC1A 4JQ
Tel: +44 (0)20 7336 7711
Fax: +44 (0)20 7336 7722
info@goodmanmasson.com
www.goodmanmasson.com