2013 SALARY & EMPLOYMENT INSIGHTS 2013 SALARY AND EMPLOYMENT INSIGHTS

Transcription

1 2013 SALARY & EMPLOYMENT INSIGHTS SALARY AND EMPLOYMENT INSIGHTS

2 Recruitment in 2012 was widely affected by a deepening of the Eurozone crisis and weak figures for GDP growth Despite this, recruitment in Scotland remained relatively positive in the financial services sector, temporary and contract markets have remained buoyant during the year a trend we expect to continue in 2013 particularly within risk and compliance. SCOTLAND SALARY AND EMPLOYMENT INSIGHTS

3 CONTENTS UK Overview 4 Achieve more with less 6 Workplaces remain under stress 6 Rewarding high performance is a business priority 6 Employees are looking for well-rounded packages 8 Achieving a benefit balance 8 Growth is predicted 9 About Hudson Accounting & Finance 10 Salary tables London Banking & Financial Services 12 London & The South - Commerce & Industry & Not- for-profit 20 The Midlands & The North 30 Scotland 36 Our offices SALARY AND EMPLOYMENT INSIGHTS 33

4 UK OVERVIEW Welcome to the Hudson Accounting & Finance Salary & Employment Insights for We will give you an overview of all our UK results before focusing in more depth on the Accounting & Finance market. As your trusted advisor, we take pride in our comprehensive understanding of the recruitment business and factors affecting it including the expectations of organisations and their people. The challenging market conditions faced by UK businesses in recent years show little signs of easing and businesses are being encouraged to adapt to these conditions. Over the next 12 months, UK organisations need to equip themselves with the people they need to move through the next phase of their economic cycles. Never before has it been more vital and beneficial for organisations and job seekers to align their expectations. EMPLOYERS VIEW: WHEN THINKING ABOUT THE LAST FEW ROLES THAT HAVEN T BEEN REPLACED IN YOUR TEAM, PREDOMINANTLY WHAT HAPPENS TO THE WORK? ONLY 24% 72% WORKLOAD REDISTRIBUTED OF ROLES ARE ALWAYS REPLACED To ensure we have a complete understanding of how organisations feel about the upcoming year, we surveyed employers and employees to ascertain what impact the challenging economic environment is having on businesses. We looked at its effect on work practices, compensation and benefits and, importantly, employee engagement, morale, loyalty and job seeking behaviour. The survey revealed that workplaces are under stress and employees are expected to shoulder more responsibility. When asked what happens when a member of staff leaves, both employers and employees agreed that less than a quarter of roles were replaced and when a colleague is not replaced, 72% of employers and 79% of employees said, the additional workload was distributed amongst the remaining team. 72% 9% 5% 5% 1% WORKLOAD REDISTRIBUTED ABSORBED BY MANAGER CONTINUED BY CONTRACTOR DISCONTINUED OUTSOURCED 8% OTHER SALARY AND EMPLOYMENT INSIGHTS

5 UK OVERVIEW In addition to this employees are working longer hours with 43% saying they work over 40 hours a week and 25% saying that their hours have increased in the past 12 months. Nevertheless, people are optimistic about the year ahead with 52% reporting that morale in their office had increased or remained the same. With over three quarters of employees surveyed categorising themselves as passively or actively seeking a new role, organisations are encouraged to look at creative benefit packages to attract and retain the best talent. The survey highlighted a level of disparity between the benefits employees are seeking and what is being offered by the market. Organisations who employ a level of flexibility with regard to benefit offerings could quite well find themselves at an advantage in In spite of the current economic challenges, employers are prophesying encouraging movements for the coming 12 months. Nearly half of employers are confident there is the potential for growth within their organisations and over a third are predicting head count increases in Rewarding high performers looks to be a business priority in 2013 and financial reward is back on the table with 72% expecting an increase in salary budgets and nearly half intend to award bonuses in Read on to see the full results of our UK and sector wide Salary & Employment Insights survey, as well as proposed salaries and recruitment trends for Accounting & Finance for Methodology The salary survey was conducted over a three week period in January 2013, in which Hudson surveyed employers and employees online. In-house recruitment specialists and managing directors were surveyed for the purpose of gaining detailed regional and sector specific employment overviews. Current salary information was derived from Hudson s internal database and quality checked against survey data. SCOTLAND 44% 56% SOUTH 49% 51% 45% 55% 29% MIDLANDS 47% 53% 51% 49% EMPLOYERS 56% 44% 37% EMPLOYEES 42% EMPLOYERS 71% 31% EMPLOYEES EMPLOYERS EMPLOYERS EMPLOYEES EMPLOYEES 63% 2013 SURVEY RESPONDENT DEMOGRAPHICS 35% 58% 69% EMPLOYERS NORTH 53% 47% EMPLOYEES 65% 71% 29% LONDON 63% 37% 53% 47% 2013 SALARY AND EMPLOYMENT INSIGHTS 5

6 ACHIEVE MORE WITH LESS IS THIS THE COMMERCIAL REALITY FOR 2013? Recent months have been defined by talk of economic uncertainty and the picture is still evolving. With the Bank of England forecasting growth to remain below 1% and a eurozone outlook that remains troubled it s not surprising that economic uncertainty is causing many businesses to start making contingency plans. Whilst the general outlook for the economy is a cautious one, the outlook for business growth and employment is predicted to gradually improve across the UK in According to the British Chamber of Commerce, business investment recovered strongly in the last two quarters of 2012 and is predicted to grow by 4.3% in This investment will likely help stimulate growth in the labour market leading to the creation of new jobs. The future of the UK economy remains unclear. To succeed businesses must remain agile, adapt to a slow growth environment and respond to evolving economic conditions. Workplaces remain under stress The demanding economic environment looks set to have a continued effect on workplaces with two thirds of employers believing their businesses will face tougher market conditions in Of those surveyed, 42% reported redundancies in the past 12 months, while 64% reported greater pressures on budgets, 55% observed increases in employee workload and 54% faced more stringent headcount approvals. It s not only employers that are under pressure in this difficult business environment; 1 in 4 employees report an increase in their working hours and 43% now work more than 40 hours per week. HOW ARE CHALLENGING MARKET CONDITIONS IMPACTING BUSINESSES? 64% 64% REPORT GREATER PRESSURE ON BUDGETS 55% 55% SAW AN INCREASE IN EMPLOYEE WORKLOAD 54% 54% FACE MORE STRINGENT HEADCOUNT APPROVALS 42% 42% HAVE SEEN REDUNDANCIES IN THE PAST 12 MONTHS 33% 23% 33% EXPERIENCED HIRING FREEZES 23% USED MORE STRINGENT ASSESSMENT PROCESSES Continued pressure on budgets has meant that only 24% of employers are always replacing roles if a member of the team leaves. In cases where the roles are not replaced, 72% of employers distribute the work amongst the remaining team members, with only 5% employing a contractor and 9% absorbing the extra workload themselves. Nearly half of employees said they are more stressed at work than a year ago, so it is perhaps not surprising to find a similar trend in morale levels with 48% saying they are more pessimistic than 12 months ago. Over three quarters of surveyed employees are actively (40%) or passively (36%) seeking new jobs. Of those surveyed, 57% anticipate changing jobs within 12 months. Levels of employee engagement at work are almost a perfect three way split between more engaged, less engaged and neutral so it is perhaps surprising to also find that 62% are reported as saying that they would recommend their employer. Rewarding high performance is a business priority While employees are expected to shoulder more responsibility, greater workloads and are working longer hours, the majority of employers appear to be acknowledging this by awarding pay rises. Most employers (72%) awarded pay rises in the last 12 months and seven in ten anticipate a further increase at the next salary review. The majority (59%) also indicated that modest pay increases of 1-5% were likely to be awarded in Interestingly, just over a third of employees believe an increase in salary is warranted in 2013 because their skills and experience are in high demand outside the organisation SALARY AND EMPLOYMENT INSIGHTS

7 The main reasons businesses increased salaries were to retain high performers and ensure pay parity. Over half of the employers (53%) surveyed indicated they would reward high performers with pay rises and a third (34%) are willing to award a pay rise in order to keep up with movements in living costs. Nearly half (49%) of employers indicated they were worried about losing staff and this concern may be warranted as 43% of employees felt they were inadequately rewarded for their increasing responsibility to the business. Four in ten employees were awarded a bonus in 2012 and the majority of these equated to between 1-10% of their salary. Larger bonuses were not unheard of with 15% of those awarded being greater than 20% of salary. Despite the tough environment 47% of employers plan to award bonuses in the next 12 months, with the majority indicating bonuses would be awarded based on either individual (68%) or company performance (67%). A further 26% indicated they were yet to decide whether they would award bonuses, which correlates with the uncertainty in the market. WHAT ARE EMPLOYERS MAIN REASONS FOR GIVING A PAY RISE AT THE MOMENT? To retain high performing staff Maintain employee living standards To reward contribution to the business 53% 34% 31% To reward high level of performance 30% Staff are taking on new / greater responsibilities 23% Salaries for similar roles have increased 22% The organisation is more profitable than last year 20% Staff overdue a rise / long time since last increase 16% 2013 SALARY AND EMPLOYMENT INSIGHTS 7

8 ACHIEVE MORE WITH LESS IS THIS THE COMMERCIAL REALITY FOR 2013? Employees are looking for well-rounded packages It is not only employers that are feeling the effects of the economic turmoil; employees are all too aware of the on-going economic uncertainty and the effects it has on their lives. Many employees are valuing job security and progression opportunities and are less inclined to expect large salary or bonus packages. When asked to rank important aspects when considering new job opportunities, employees demonstrated two definite preferences for increased salaries and a better work / life balance. The majority (85%) of employees rated more pay within their top five, interestingly, the expectation of the level of increase was modest, with 71% indicating an acceptable salary increase for external roles was less than 15%. The second highest consideration was better work / life balance (74%) with 29% of employees ranking this as the number one reason they are attracted to a new opportunity. In general, employees showed a tendency towards nonmonetary based aspects when considering new jobs. When asked to pick from a list of 17 aspects they look for when changing jobs, 61% of employees picked a non-monetary based option as their number one option. Company culture, convenient location and respected senior / managerial staff were all cited as factors in employees decision making processes. This suggests firms that choose to focus their attention on a combination of base salaries and tailored benefit packages are likely to be more attractive to prospective employees. TOP 10 REASONS EMPLOYEES ARE ATTRACTED TO JOB OPPORTUNITIES* Better salary Work/life balance Convenient location Extra benefits Cultural fit Good company reputation Promotion opportunities Respected leadership Appealing industry Greater responsibility * Employees were asked to select their top 5 85% 74% 61% 37% 37% 37% 37% 33% 27% 21% Achieving a benefit balance With budget squeezes becoming an all too common commercial reality, businesses are showing a commitment to offering a range of benefits as part of the package. But it is important to get it right 1 in 5 employees indicated a level of dissatisfaction with their current benefit package and there appears to be some disparity between what is offered and what is attractive to employees. Employers would be advised to look to adopt a range of non-monetary benefits to attract and retain talent. Only 49% of employers offer flexible working opportunities, whereas 65% of employees rated this in their top five most attractive benefits. After base annual salary, the top benefits offered by employers are contributory pension plan (72%), bonus and recognition (67%) and health benefits / insurances (54%). However, with the government NEST pension scheme being rolled out over the next few years, companies will no longer be able to offer this as an optional benefit so we will likely see a shift here. When we asked employees to nominate which benefits were most attractive to them, 86% placed bonus and recognition in their top five followed by flexible working opportunities (65%) and contributory pension plan (54%). Those least preferred included child care and paid maternity / paternity leave. FLEXIBLE WORKING OPPORTUNITIES 65% EMPLOYEES RATED THIS IN THEIR TOP 5 BENEFITS BUT ONLY 49% OF EMPLOYERS OFFER THIS SALARY AND EMPLOYMENT INSIGHTS

9 WHAT BENEFITS ARE EMPLOYERS OFFERING COMPARED TO THE BENEFITS EMPLOYEES ARE LOOKING FOR? BENEFIT Offered by Employers* Most attractive benefits for Employees** Summary Bonus & recognition Health benefits / insurances Pension plan - contributory Pension plan - non-contributory 67% 86% 54% 39% 72% 54% 19% 35% The general outlook for 2013 is one of cautious optimism. Businesses are reporting expected growth but the commercial reality could be that employees will shoulder even greater responsibilities, as businesses strive to achieve this under the pressure of already tight budgets. Training benefits Living / travel allowances Increased annual leave Flexible working arrangements Company car / car allowances Gym membership Child care Paid maternity leave Paid paternity leave Growth is predicted Despite the current economic uncertainty, 48% of employers stated that they believe their department has growth potential in This growth is expected to manifest in a number of different ways. One third of employers believe their departments will see an increase in headcount in the next 43% 34% 10% 22% 42% 48% 49% 65% 31% 33% 15% 14% 19% 10% 39% 10% 28% 10% * Employers were asked to select all that apply ** Employees were asked to select their top 5 twelve months, while 44% expect headcounts to remain stagnant. 19% of employers reported an expected decline in headcount in 2013, and it is worth noting that this figure is significantly down from the 30% who reported the same expectation last year. Employees are taking on more responsibility and working longer hours, resulting in increased workplace stress and pessimism which could explain the large number of employees looking to move on in Employees feel they are not being adequately rewarded for increased workload and responsibilities, and want greater rewards. With pressure on remuneration budgets, businesses should increase their focus on non-monetary benefits as a way of retaining and incentivising staff. Stable jobs with flexible benefits are a key priority for employees rather than ever-increasing salaries. Results indicate that non-monetary benefits alone are enough to sway job seekers decisions. Employers who focus their attention on a combination of base salaries and tailored benefit packages are likely to be more attractive to prospective employees SALARY AND EMPLOYMENT INSIGHTS 9

10 ABOUT HUDSON ACCOUNTING & FINANCE Hudson is a global talent solutions company with expertise in leadership and specialised recruitment, contracting solutions, recruitment process outsourcing, talent management, outplacement and ediscovery. The Hudson Accounting & Finance team helps clients and candidates succeed by leveraging our expertise, deep industry and market knowledge, and proprietary assessment tools and techniques. With approximately 2,000 people in 20 countries, and relationships with millions of specialised professionals, we bring an unparalleled ability to match talent with opportunities by assessing, recruiting, developing and engaging the best and brightest people for our clients. We combine broad geographic presence, world-class talent solutions and a tailored, consultative approach to help businesses and professionals achieve higher performance and outstanding results. Whether you are looking for a candidate who is Part Qualified / Qualified Accountant or Risk and Compliance Professional Hudson Accounting & Finance can help you with your next hire. Our consultants focus on specific role levels and types within sectors so they can provide specialisation expertise. Combining our global capabilities with in-depth local market knowledge, we have been able to build strong and trusted relationships with a wide-ranging client base that includes SMEs and multinational companies. You deserve a recruitment partner with a strong record of innovation and execution and who will deliver optimised solutions to guide you through the challenges associated with your business lifecycle We currently work with: PRACTICE `` The Big Four audit firms `` Top 20 UK firms `` Top 50 practices ``Audit, tax and advisory specialists PRIVATE SECTOR ``Financial services and banking `` Retail, media and FMCG `` Pharmaceutical and healthcare ``Technology and telecommunication ``Energy and utilities `` Oil and gas HOW DO A&F EMPLOYEES DESCRIBE THEIR MORALE AT WORK COMPARED TO A YEAR AGO? 50% 21% 29% MORE PESSIMISTIC OR NEGATIVE MORE OPTIMISTIC OR POSITIVE NO CHANGE `` Mining ``Professional services ``Manufacturing and distribution ``Construction, property and engineering PUBLIC SECTOR ``Local authorities ``Central government ``Charities / not-for-profit `` NHS and primary care trusts ``Regulatory bodies ``Associations `` Education 50% ARE MORE PESSIMISTIC OR NEGATIVE SALARY AND EMPLOYMENT INSIGHTS

11 2013 SALARY AND EMPLOYMENT INSIGHTS 11

12 LONDON BANKING & FINANCIAL SERVICES SALARY TABLES SALARY AND EMPLOYMENT INSIGHTS

13 LONDON BANKING & FINANCIAL SERVICES With London being the centre of financial activity in the UK, and a global financial hub, the accounting, finance and banking sectors are affected by poor economic conditions and negative economic news more than in other regions. With that in mind, conditions over the past twelve months have been challenging and as a result the prevailing mood is one of uncertainty. Redundancies within many firms have created an apprehensive atmosphere leading to the majority of candidates remaining in their roles as they look for security rather than an increased compensation package. For this reason we expect hiring volumes to remain stagnant in We expect salaries to be largely unchanged between 2012 and In 2012 and moving into 2013 we haven t seen large pay increases at offer stage with the majority of firms offering 10-15% maximum above the candidate s current salary. Also, whereas we used to see an increase of candidates in the market following bonus payments this is no longer the case as candidates aren t necessarily expecting a bonus. In some cases we have actually seen candidates take a pay-cut for the right opportunity. We have seen a widening in the difference between the top performers and those at the bottom of the scale, with high achievers seeing increases in their bonus, and those at the bottom being left with nothing. As a consequence, candidates are increasingly seeking security, progression opportunities and improved base salaries over bonus pay-outs. Last year saw a drive in Valuations/IPV recruitment across the majority of Investment banks but this year, where redundancies are expected and offshoring is occurring this is not likely to continue. We expect to see continued delayering at director level with some activity across key areas such as IFRS and Regulatory Policy. In addition, firms have been recruiting finance business partner/decision support candidates with a particular emphasis on cost and managing spend as well as other business functions such as Technology and Risk. Contractors are still being utilised but there have been rate reductions as firms look to reduce costs further. Permanent hires are preferred as they are generally more cost effective but due to headcount restrictions often find it easier to hire a contractors. There has been less of an emphasis on temp recruitment over the past twelve months, especially within core finance functions such as product control and financial control as firms have moved the majority of these teams to more cost effective offshore/nearshore locations. Project management and business analyst candidates are still in demand and due to the nature of their work are still hired on a contract basis. Recruitment in Risk and Compliance proved relatively challenging in 2012 with the exception of a few specific pockets of activity. Jobs in conventional areas of risk management such as Credit and Market Risk analysis were predominantly driven by replacement and, where it was possible, firms sought to leverage internal resources to fill any gaps. If institutions did reach out to the external candidate market in these areas, it was usually because they were looking for a very specific skill (such as a language or particular product experience). The changing regulatory landscape did provide some respite. A number of banking clients sought to hire people on a permanent basis to help tackle changing rules and regulations and this resulted in a number of roles coming through in Regulatory Capital, Regulatory Risk and certain areas of 37% OF ACCOUNTING & FINANCE EMPLOYERS BELIEVE THERE WILL BE GROWTH IN THEIR OWN DEPARTMENTS IN 2013 Compliance. As well as building out internal teams to focus on regulatory change, a number of firms have been hiring experienced Project Professionals both from an IT and business background on a contract basis. The outlook for 2013 is set to replicate that of 2012 with salaries remaining constant in most cases and the bulk of recruitment being driven by firms trying to cope with regulatory changes within financial services. Therefore it is necessary for candidates actively looking at new job opportunities to make themselves as marketable as possible to new employers. Top performers across all functions are going to have to prove their worth in the coming months and years, refining and developing their skill sets to ensure they retain their value in the market. UNDERSTANDING CLIENT REQUIREMENTS MATCHING CANDIDATE SKILLS TO EMPLOYER S NEEDS 52% OF ACCOUNTING & FINANCE EMPLOYERS STATED IT IS CHALLENGING TO FIND SKILLED PROFESSIONALS SKILLED STAFF CHALLENGE 2013 SALARY AND EMPLOYMENT INSIGHTS 13

14 LONDON - INVESTMENT BANKING & FINANCIAL SERVICES Role Newly Qualified Associate AVP VP Director Management Reporting 45 55, , , , ,000 + Management Accounting 45 55, , , , ,000 + Project/Business Analyst 45 60, , , , ,000 + Fund Accounting 42 50, , , ,000 90,000 + Financial Control 45 60, , , , ,000 + Financial Reporting 45 58, , , , ,000 + Financial Planning & Analysis 45 55, , , , ,000 + Finance Business Partner / Decision Support 45 58, , , , ,000 + Regulatory Reporting / Accounting 50 60, , , , ,000 + Product Control 48 60, , , , ,000 + Valuations/IPV 48 60, , , , ,000 + NEWLY QUALIFIED 58k ASSOCIATE 60k HOW MUCH CAN I EARN IN PERMANENT FINANCIAL REPORTING IN LONDON? AVP VP DIRECTOR 75k 105k 100k SALARY AND EMPLOYMENT INSIGHTS

15 LONDON - INVESTMENT BANKING & FINANCIAL SERVICES Contract / Interim (Daily Rate) Role Newly Qualified Associate AVP VP Director Management Reporting Management Accounting Project/Business Analyst Fund Accounting Financial Control Financial Reporting Financial Planning & Analysis Finance Business Partner / Decision Support Regulatory Reporting / Accounting Product Control Valuations / IPV HOW MUCH CAN I EARN IN CONTRACT / INTERIM VALUATIONS / IPV IN LONDON? NEWLY QUAL. 250 ASSOCIATE 400 AVP 450 VP 500 DIRECTOR SALARY AND EMPLOYMENT INSIGHTS 15

16 LONDON - COMPLIANCE Contract / Interim (Daily Rate) Role Junior Intermediate Senior Junior Intermediate Senior Investment Banking Global Head Of Compliance / Country Compliance Officer N/A N/A 160,000 N/A N/A CF10 N/A N/A ,000+ N/A N/A CF11 / MLRO N/A N/A ,000+ N/A N/A Deputy MLRO N/A N/A ,000+ N/A N/A Deputy Head Of Compliance N/A N/A ,000+ N/A N/A Compliance Manager N/A 50-60, ,000 N/A AML Manager N/A 50-60, ,000 N/A AML Monitoring 35-40, , , KYC / On-Boarding 30-35, , , Reviews 40-45, , , Surveillance 35-40, , , Control Room 35-45, , , Advisory (Sales & Trading) 50-60, , , Advisory (IBD) 45-55, , , Financial Promotions 25-35, , , Training & Competence 25-35, , , Disclosures 35-45, , , Regulatory Affairs / Policy N/A N/A ,000+ N/A N/A HOW MUCH CAN I EARN IN CONTRACT SURVEILLANCE IN LONDON? JUNIOR INTERMEDIATE SENIOR 200 PD 350 PD 500+ PD SALARY AND EMPLOYMENT INSIGHTS

17 LONDON - COMPLIANCE Contract / Interim (Daily Rate) Role Junior Intermediate Senior Junior Intermediate Senior Asset Management, Hedge Funds, Private Equity & Brokerage CF10 N/A N/A ,000+ N/A N/A CF11 N/A N/A ,000+ N/A N/A Deputy MLRO N/A N/A 65-90,000+ N/A N/A Deputy Head Of Compliance N/A N/A 65-90,000+ N/A N/A Compliance Manager - Generalist N/A 45-60, ,000 N/A Compliance Associate - Generalist N/A 45-55, ,000 N/A Compliance Analyst - Generalist 40-45, , , Compliance Assistant - Generalist 30-40, , , Guideline Monitoring 35-45, , , Compliance Monitoring 35-45, , , Distributions / Financial Promotions 30-35, , , HOW MUCH CAN I EARN IN COMPLIANCE MONITORING IN LONDON? JUNIOR 45k INTERMEDIATE 55k SENIOR 80k JUNIOR 200 PD INTERMEDIATE 300 PD SENIOR 400+ PD PERMANENT CONTRACT/ INTERIM 2013 SALARY AND EMPLOYMENT INSIGHTS 17

18 LONDON - RISK Contract / Interim (Daily Rate) Role Analyst AVP VP D/ED Analyst AVP VP D/ED Market Risk Market Risk Reporting 30-45, , , , Market Risk Management 40-55, , , , Investment Risk & Performance Attribution 30-45, , , , Prime Brokerage Risk 40-55, , , , Regulatory Risk 35-50, , , , Risk Data 30-45, , , , Risk Consultancy 40-55, , , , Market Risk Business Analyst 30-50, , , , Market Risk Methodology 40-60, , , , Model Validation 40-60, , , , Operational Risk Operational Risk - Capital Markets / Front Office 40-55, , , ,000 N/A Operational Risk - Investment Banking Support Functions 35-50, , , , Operational Risk - Retail & Corporate Banking 25-45, , , , Operational Risk - Alternative Investments 35-55, , , , Operational Risk - Group Function (scenario, loss data etc) 40-55, , , ,000 N/A Operational Risk - Capital Modelling 35-55, , , ,000 N/A Operational Risk Reporting 30-45, , ,000 N/A N/A Sustainability Analyst 45-55, , , , Governance Officer 45-55, , , , Operational Risk Consultant - Big , , , ,000 N/A N/A N/A N/A SALARY AND EMPLOYMENT INSIGHTS

19 LONDON - RISK Contract / Interim (Daily Rate) Role 0-2 Years' 2-6 Years' 6-10 Years' 10+ Years' 0-2 Years' 2-6 Years' 6-10 Years' 10+ Years' Credit Risk Credit Analyst - NBFI s 32-45, , , , Credit Analyst - FI s 32-45, , , , Credit Analyst - Corporates 32-45, , , , Credit Analyst - Hedge Funds 40-50, , , , Credit Analyst - Natural Resources 40-50, , , , Credit Analyst - Leverage / Structured Finance 40-50, , , , Credit Risk Business Analyst 30-50, , , , Ratings Analyst 35-45, , , , Credit Risk Methodology 45-55, , , , Credit Risk Control 45-55, , , , Credit Risk Reporting 35-50, , , , Exposure Management 35-50, , , , LONDON - PROJECTS & CHANGE Contract / Interim (Daily Rate) Role Analyst 1-3 Years' 3-6 Years' 6 Years' Years' 3-6 Years' 6 Years' + Financial Services Business / Change Analyst 50-65, , , , Project / Change Manager N/A 60-75, , , PMO 50-58, , , , Programme Director N/A N/A N/A 110, SALARY AND EMPLOYMENT INSIGHTS 19

20 LONDON & THE SOUTH COMMERCE & INDUSTRY & NOT-FOR-PROFIT SALARY TABLES SALARY AND EMPLOYMENT INSIGHTS