High- performing financial professionals remain in high demand as the skills deficit grows in the financial sector. Robert Half 2018 Salary Guide has revealed that accountants and finance leaders will top the list of professionals set to experience the greatest salary increases in financial services in 2018.
With 51 percent of financial services executives struggling to recruit with the lack of experienced professionals available on the market and 59 percent admitting that demand is growing faster than supply, the financial services sector is investing in its talent to keep pace with the changing climate. Increasingly, companies are hiring junior accounting and finance professionals to fill the gap then supporting their growth within the company.
“The skills shortage continues to be felt industry-wide and is a trend that is likely to continue into the foreseeable future. With finance automation, changing regulations and a driving need for greater efficiencies, firms are focused on attracting and holding onto top talent,” explained Matt Weston, Director, Robert Half UK. “In a bid to attract highly skilled professionals, many financial services firms plan to prioritise salary increases and bonus payments tied to performance over standard benefits this year.”
Bonuses for junior to mid-level roles will range from 10-20 percent on average, rising to 20-50 percent for those in senior positions. Private medical care, 25 days’ annual leave and life insurance are also still popular options in attractive remuneration packages that help acquire skilled professionals.
The top 10 roles anticipated to see the biggest salary rises in 2018 include:
- Accountant (NQ – 3 years’ PQE) – 4.2 percent (£52,500 – £65,750)
- Chief financial officer/ Group financial director – 4.0 percent (£86,500 – £100,000)
- Senior financial controller – 4.0 percent (£44,500 – £54,000)
- Risk associate – 3.3 percent (£48,000 – £60,500)
- Operations manager – 3.2 percent (£78,000 – £117,000)
- Accountant (4-7 years PQE) – 3.1 percent (£70,000 – £95,000)
- Assistant management/ Financial accountant – 2.9 percent (£22,000 – £32,000)
- Tax specialist – 2.6 percent (£43,000 – £65,750)
- Finance director – 2.6 percent (£95,000 – £176,500)
- Systems accountant – 2.5 percent (£49,000 – £65,000)
