2018 Salary Guide - IDEX Consulting Ltd Recruitment Agency · Salary Guide contains key insight and information ... Employee Benefits ... is still very candidate short across all

Salary GuideFINANCIAL SERVICES EXPERTISE

2018

BirminghamThe Colmore Building, 20 Colmore Circus Queensway, Birmingham B4 6ATt 0333 700 4339

LondonSt Clements House, 27-28 Clements Lane London EC4N 7AEt 0333 800 4339

www.idexconsulting.com

IDEX Consulting Ltd @IDEXConsulting IDEXConsulting

2018 Salary Guide - Financial Services Expertise Welcome - Page 3

The IDEX Financial Services Expertise Salary Guide has been developed to assist professionals across the UK in securing their next career move, and to support our valued clients in their business growth plans. Drawing upon IDEX Consulting’s specialist team’s extensive knowledge, the 2018 Salary Guide contains key insight and information relevant for Financial Services professionals.2017 has been a strong financial year for many of our clients, meaning that the “war for talent” has never been more fierce, with lengthening of the time to fill vacancies driving the development of innovative solutions to attract and retain the best individuals in a competitive market. During 2017 we have seen the largest single growth from the Paraplanning sector, where salaries have seen the fastest rise in the financial planning world, with role numbers increasing by

34%, causing firms to ‘lock in’ their best talent with enhanced salary packages to avoid losing them to competitors.As firms have modernised internally, many of our clients have also looked to modernise their recruitment process to gain a competitive advantage and attract the best people. We are seeing that candidates are increasing judging employers by the speed and professionalism of their hiring process, rating this as highly as Employer Brand and even remuneration. Meaning that firms who focus on these areas are often winning the war for talent. A number of companies have taken to ‘growing their own’ for this very reason, which will no doubt serve them well in future years. As the market becomes more complex and companies look to digitally engage with their clients, interesting new roles have become popular as companies evolve and embrace technology to keep up with client requirements. A recent survey from PWC stated that “UK CEOs are looking to strengthen their digital and technology capabilities in order to drive growth, but the issues surrounding the skills gap will improve as the talent coming through from ‘growing your own’ kicks in.” Looking forward, 2018 will certainly see increasing compliance pressures for financial services firms, in turn causing the demand for compliance specialists to outstrip supply, further impacting the “war for talent”, as companies look to attract and retain the best individuals in this field. I hope you find this guide helpful, however if you do have any questions or require further insight, please do not hesitate to contact me.

Tony Bates DipRPManaging Director M 07534 507 007E [email protected]

ContentsIntroduction ............................................ 3London ................................................ 4-7Regions ............................................. 9-13CEO commentary ................................. 14Other sectors ........................................ 15

Page 2 - Contents

2018 Salary Guide - Financial Services Expertise London - Page 5

With many firms preparing for further increases in regulation in the year ahead, we have seen a huge rise in compliance and risk roles as firms look to ramp up first and second lines of defense. The focus on technology has also seen new and interesting roles around design and delivery of technology propositions at all levels.”Tony Bates DipRP Managing Director

“

2017 has seen an increase in the prevalence of Big Data, Compliance and the ever growing skills shortage, all of which we expect to continue in 2018”

“

London

Page 4 - London

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 £38,000 - £48,000 £42,000 - £55,000

Financial Planner without clients £40,000 - £50,000 £50,000 - £60,000

Financial Planner with clients £60,000 - £70,000 £70,000 - £100,000

Regional Sales Manager £60,000 - £70,000 £70,000 - £90,000

National Sales Manager £80,000 - £100,000 £100,000 - £120,000

Employee Benefits

Employee Benefits Administrator £28,000 - £35,000 £28,000 - £35,000

Employee Benefits Administration Manager £36,000 - £45,000 £40,000 - £47,000

Employee Benefits Consultant £50,000 - £80,000 £60,000 - £100,000

Regional Business Development/ Sales Manager £70,000 - £100,000 £80,000 - £100,000

Regional Business Development/ Sales Director £80,000 - £100,000 £80,000 - £120,000

Employee Benefits Director £75,000 - £125,000 £80,000 - £125,000

Investment Manager

Investment Analyst/ Researcher £35,000 - £45,000 £45,000 - £55,000

Investment Manager £60,000 - £80,000 £80,000 - £100,000

Portfolio Manager (desk based) £40,000 - £50,000 £45,000 - £55,000

Investment Director £80,000 - £100,000 £100,000 - £120,000

Senior Investment Director/ Chief Investment Officer £100,000 - £120,000 £120,000 - £140,000

2018 Salary Guide - Financial Services Expertise London - Page 7

As the competition for talent continues, over 58% of businesses report that they expect salaries for existing professionals to increase during 2018, with ever more creative packages being used to attract and retain new and existing Financial Services professionals.”

“

Page 6 - London


Compliance

Policy and Advice Officer £45,000 - £60,000 £50,000 - £60,000

Policy and Advice Manager £50,000 - £60,000 £60,000 - £70,000

Compliance Monitoring Officer £38,000 - £45,000 £40,000 - £50,000

Compliance Monitoring Manager £50,000 - £65,000 £60,000 - £70,000

Compliance Manager £60,000 - £80,000 £70,000 - £100,000

Head of Compliance £80,000 - £100,000 £90,000 - £110,000

Risk

Credit Risk Officer £35,000 - £45,000 £45,000 - £55,000

Credit Risk Manager £50,000 - £60,000 £60,000 - £75,000

Head of Credit Risk £70,000 - £85,000 £85,000 - £105,000

Operational Risk Manager £50,000 - £60,000 £60,000 - £75,000

Head of Operaition Risk £75,000 - £90,000 £95,000 - £105,000

Training and Competence

Learning and Development Officer £35,000 - £45,000 £45,000 - £55,000

Head of Learning and Development £50,000 - £60,000 £60,000 - £70,000

Regional Training and Competence £45,000 - £55,000 £55,000 - £65,000

Head of Training and Competence £55,000 - £70,000 £60,000 - £80,000

Distribution

Consultant £40,000 - £50,000 £45,000 - £55,000

Regional Development Consultant £50,000 - £60,000 £60,000 - £70,000

National Development Consultant £80,000 - £90,000 £80,000 - £100,000

Head of Sales £80,000 - £100,000 £80,000 - £100,000

Change Management 1-2 years 2 years +

Business Analyst £50,000 - £80,000 £50,000 - £80,000

Project Manager £70,000 - £85,000 £70,000 - £85,000

Project Management Officer £40,000 - £60,000 £60,000 - £80,000

Time to hire - companies have reported that lengthy hiring processes are beginning to impact their ability to attract talent, with first-choice candidates falling out of the process in favour of faster decisions elsewhere.”

“

59% of companies are considering turning to interim solutions to plug the gap in skills during 2017.”

2018 Salary Guide - Financial Services Expertise Regions - Page 9

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Regions

Page 8 - Regions


Financial Planning

Administrator £20,000 - £28,000 £25,000 - £35,000

Paraplanner £38,000 - £45,000 £40,000 - £55,000

Paraplanning Manager £40,000 - £55,000 £50,000 - £60,000

Office Manager £35,000 - £45,000 £40,000 - £45,000

Financial Planner (without Clients) £35,000 - £45,000 £40,000 - £55,000

Financial Planner (with Clients) £50,000 - £70,000 £60,000 - £80,000


National Sales Manager £70,000 - £90,000 £80,000 - £100,000

Employee Benefits

Employee Benefits Administrator £25,000 - £28,000 £27,000 - £30,000

Employee Benefits Administration Manager £30,000 - £35,000 £35,000 - £40,000

Employee Benefits Consultant £40,000 - £60,000 £50,000 - £80,000


Regional Director £80,000 - £100,000 £80,000 - £100,000

Employee Benefits Director £80,000 - £100,000 £80,000 - £100,000

Investment Manager

Investment Analyst/ Researcher £30,000 - £35,000 £35,000 - £45,000

Investment Manager £50,000 - £60,000 £60,000 - £70,000

Portfolio Manager (desk based) £40,000 - £45,000 £40,000 - £50,000

Investment Director £80,000 - £100,000 £80,000 - £100,000

Senior Investment Director/ Chief Investment Officer £100,000 - £120,000 £100,000 - £120,000

This last year seems to have been one of growth and prosperity, but one which has seen some big changes in the market. Mergers and acquisitions have been prominent in the marketplace, but the market is still very candidate short across all fields. Paraplanners in particular are still the market’s biggest shortfall, with demand driving a real shift in salaries towards the mid to late £40,000, with companies also looking at their benefits packages to be able to attract the best talent in the market. This has also led to a growth in the Health, Risk and Employee Benefits market with many Employee Benefit firms looking for good qualified Consultants to capitalise on opportunity from firms seeking to improve their benefit offering. Graeme Hyland Cert RP Managing Consultant

“59%


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.”

“

Page 10 - Regions


Compliance

Policy and Advice Officer £28,000 - £35,000 £32,000 - £28,000

Policy and Advice Manager £37,000 - £45,000 £40,000 - £45,000

Compliance Monitoring Officer £35,000 - £40,000 £40,000 - £45,000

Compliance Monitoring Manager £45,000 - £55,000 £50,000 - £60,000

Compliance Manager £40,000 - £45,000 £40,000 - £55,000

Head of Compliance £50,000 - £60,000 £60,000 - £70,000

Risk

Credit Risk Officer £40,000 - £50,000 £50,000 - £55,000

Credit Risk Manager £45,000 - £55,000 £50,000 - £75,000

Head of Credit Risk £75,000 - £85,000 £85,000 - £100,000

Operational Risk Manager £50,000 - £60,000 £60,000 - £70,000

Head of Operaition Risk £85,000 - £90,000 £85,000 - £100,000

Training and Competence

Learning and Development Officer £40,000 - £45,000 £45,000 - £55,000

Head of Learning and Development £50,000 - £60,000 £60,000 - £70,000

Regional Training and Competence £45,000 - £55,000 £55,000 - £65,000

Head of Training and Competence £60,000 - £70,000 £60,000 - £80,000


2017 has seen employers developing innovative remuneration packages which include: flexible working environments, enhanced bonus schemes and fast-tracked career progression.”

“

Page 12 - Regions


Distribution

Consultant £40,000 - £50,000 £50,000 - £60,000

Regional Development Consultant £50,000 - £55,000 £50,000 - £60,000

National Development Consultant £60,000 - £70,000 £60,000 - £80,000

Head of Sales £70,000 - £80,000 £80,000 - £90,000

Change Management 1-2 years 2 years +

Business Analyst £50,000 - £75,000 £75,000 - £100,000

Project Manager £70,000 - £80,000 £80,000 - £120,000

Programme Manager £100,000 - £120,000 £100,000 - £120,000

Project Management Officer £60,000 - £75,000 £75,000 - £120,000

2018 Salary Guide - Financial Services Expertise Other Sectors Guides - Page 15Page 14 - CEO Commentary

Throughout 2017, IDEX have experienced significant growth across all of our practice areas, with 2018 poised to raise the bar further still. The next 12 months will see both global and regional businesses confronted with fast-paced change as advances in technology such as AI, Chatbot’s and Google Jobs all begin to make their presence felt in a constantly evolving workspace. How long will it be before Amazon’s Alexa is able to deliver job updates, in real time?The UK recruitment market is continuing to see dramatic growth, despite ongoing uncertainty about Brexit, with 8 out of 10 companies expect to see their revenue increase over 2018, and 23% expecting it to increase by over 25%. The UK employment landscape continues to be dominated by one key factor, with 71% of firms

believing that their greatest challenge will come from overcoming the shortage of talent. To resolve this, business leaders are turning to increasingly innovative ways of attracting and retaining the best people, including remuneration, flexible working environments and a better work/life balance. This attitude, combined with the free availability of data has led to a much more transparent working environment. Websites like Glassdoor and Google have given potential employees the tools to review customer feedback and past / current employee reviews of their employer – meaning that a real focus on employer brand needs to happen, especially as we are now experiencing candidates refusing interviews on the strength poor experience reviews, rather than market “hearsay”. Embracing these changes is a vital part of IDEX’s key objective for 2018, to deliver an exceptional Client and Candidate experience. We aim to work as “Trusted Advisors”…we believe that your Recruitment Consultant should be there for you all the time, not just when you’re looking for a job or recruiting talent. A good Recruiter is a partner is for life.We would love to hear your feedback on IDEX, please contact me directly with any positive comments or constructive feedback.

Matt Green Cert CII, FIRP Chief Executive Officer M 07974 859 860 E [email protected]

Legal Expertise Guide IDEX Legal Expertise Salary has returned for its third year to assist Legal professionals across London and the Middle East in securing their next role or supporting our valued clients with their businesses growth plans. Drawing upon the extensive knowledge of our specialist Legal team, the 2018 guide contains insight for professionals at all levels for both private practice and in-house.

Insurance Expertise GuideIDEX Consulting are proud to present the 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.

Salary GuideLEGAL EXPERTISE

2018





Salary GuideINSURANCE EXPERTISE

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2018 Salary Guide - IDEX Consulting Ltd Recruitment Agency · Salary Guide contains key insight and information ... Employee Benefits ... is still very candidate short across all