Lynda Barnes Managing Director

Transcription

1 SALARY SURVEY 2014

2 Introduction 2014 s economic path was well paved with Forbes Magazine recognizing and awarding Ireland Best Country for Business title back in December Our improved attitude to entrepreneurialism and overall competitiveness has secured Ireland the most acute increase in job creation in years. It is, however, not just the sole involvement of the multinational firms to thank for such a positive outcome in It is a He who dares, wins attitude that has seen many newly formed splinter consultancies take charge and start to employ talent. A feeling I get from the market, is that insurance companies are much quicker to react to market changes and a true litmus test for this is the upsurge in need for strong pricing and technical underwriters, where companies might have solely relied on actuarial outputs for direction. Companies are becoming much more competitive, looking at adding or changing product lines and broker services. We recruit a considerable amount of roles that are not being advertised directly or that are in the open market on behalf of firms that want to obtain talent to develop new products, quietly and confidentially. We are constantly looking for adept risk and control executives, commercial and corporate brokers, heads of business areas, underwriters, senior pension s consultants and wealth managers. The most apparent change we have seen to date is the increase in the contracting side of the market, where firms, due to headcount restrictions are looking for interim solutions and talent. Long term contracts are becoming the norm, which ultimately keeps the market moving and gives people much broader exposure than before, having seen different company cultures and had different working experiences. Salaries have remained at the same level but the good news is, bonuses are back! Employers, especially brokerages have realised that keeping key team members is about reward, recognition and participation in profitability. Lynda Barnes Managing Director 2

3 INSURANCE BANKING National Average k p/a Legal Head of Compliance 112,550 Compliance Manager 70,000 Compliance Officer 35,000 Life Assurance Senior Life Underwriter 55,000 Pensions Manager 85,000 Life Underwriter 3+ yrs 35,000 Senior Life & Pensions Consultant 60,000 Life & Pensions Consultant 40,000 Life Underwriter 0-3 yrs 30,000 Pensions Administrator 3+ yrs 40,000 Life Administrator 0-3 yrs 27,000 Pensions Administrator 0-3 yrs 27,000 Non Life Insurance Underwriting Manager 100,000 Senior Underwriter 10+ yrs 80,000 Commercial Underwriter 5+ yrs 50,000 Underwriter 3+ yrs 40,000 Underwriter 0-3 yrs 30,000 Head of Claims 98,000 Claims Manager 60,000 Claims 1-10 yrs 40,000 Senior Loss Adjuster 70,000 Loss Adjuster 45,000 Corporate Broker 50,000 Insurance Broker 40,000 Senior Administrator 45,000 Junior Administrator 30,000 PENSION As we head into Quarter 2 of 2014 in a period of relative calm and optimism, it is a perfect time to take stock of movement in the Pensions Industry. The period since the banking crisis has brought profound change to the financial services as a whole. Although interest rates remain persistently low, pension legislation seems to have found a stable footing. Moving forward, the new level of service will be one which focuses on building consultative relationships based on trust. In turn, the role of the Pensions Manager and subsequent related roles have developed according to these market developments; the positions are now responsible for ensuring smooth running of schemes, in line with Service Level Agreements, ensuring the highest quality levels are maintained at all times. The ideal candidates for such a role must fit a number of criteria e.g. QFA is essential, without question, they must possess excellent understanding of pension administration, procedures and systems (including DB, DC, Hybrid and CARE schemes), the ability to maintain Service Level Agreements at a contractual level or above and ensure appropriate risk management activities are adhered to. INSURANCE Salary levels will remain similar in 2014 with Permanent Contracts still the priority for Insurance Companies to fill. The demand for Actuaries is beginning to level out, however, we see increased demand for Business Development and Claims personnel due to the increased threat of fraudulent claims and unusual weather events. National Average k p/a Funds Manager - Fund Accounting 65,000 Transfer Agency Manager 70,000 Transfer Agency Team Leader 45,000 Portfolio Manager 75,000 Supervisor - Fund Accounting 40,000 Senior Fund Accountant 35,000 Fund Accountant 30,000 Fund Administrator 25,000 Transfer Agency 26,000 Relationship Manager 50,000 Operations Credit Risk Management 60,000 Relationship Manager 50,000 Portfolio Manager 60,000 Compliance Manager 60,000 Credit & Lending Executive 80,000 Credit Analyst 40,000 Credit Underwriter 47,000 Compliance Specialist 50,000 Trustee, Income & Corporate Actions Graduate ,000 Graduate - entry level role. No exp 28,000 Since the financial crisis, the banking sector in Ireland has worked hard to get its house in order. It has shored up capital reserves, invested in risk and compliance staff to meet regulatory demands, cut bonuses and introduced pay freezes. By eliminating short-term risk and focusing on solid low risk performance, banks have shown that they are committed to acting responsibly, changing the negative public perception and looking forward to a profitable future for all. The focus is now to deliver innovative banking that is grounded in customer and shareholder value. Currently, there are significant volumes of required expertise in the market within the banking, asset management and investments sectors with strong career prospects particularly for candidates who possess not only a QFA but also a CFP qualification. Captives Captive Account Manager 110,000 Captive Underwriter 45,000 Reinsurance Reinsurance Manager 135,000 Reinsurance Underwriter 102,000 Reinsurance Claims 82,500 Actuarial Newly Qualified Actuary 65,000 Qualified Actuary (5 yrs PQE) 85,000 Treasury Treasury Manager 75,000 Treasury Administrator 35,000 Trustee Trustee Manager 70,000 Trustee Supervisor 45,000 Trustee Administrator 28,000 Corporate Actions Corporate Actions (3-5 yrs. Exp) 45,000 Corporate Actions (1-3 yrs. Exp) 32,

4 ACCOUNTANCY AND FINANCE EXECUTIVE National Average p/a Tax Tax Manager 65,000 Tax Accountant 60,000 PERMANENT Finance Financial Controller 95,000 Finance Manager 75,000 Senior Accountant (3-5 yrs PQE) 65,000 Group Accountant (3-5 yrs PQE) 65,000 Financial Accountant (2 yrs PQE) 55,000 Management Accountant (2 yrs PQE) 55,000 Cost Accountant (2 yrs PQE) 55,000 Project Accountant 67,500 Qualified Systems Accountant (Qualified) 75,000 Systems Accountant (Part-Qualified) 60,000 Senior Financial Analyst 80,000 Financial Analyst 65,000 Newly Qualified Accountant 48,000 CONTRACT Qualified Systems Accountant (Qualified) 70,000 Senior Financial Analyst 65,000 Financial Analyst 45,000 Newly Qualified Accountant 48,000 ACCOUNTANCY The qualified accountancy and finance jobs market is back in positive mode as hiring freezes lift. Many organisations are recruiting for accountancy roles that they had previously been covering internally and employers are actively recruiting candidates who can add value to their organisation. Companies want candidates with strong operational experience who can develop relationships with non-finance staff while working cross functionally, understanding the overall strategic business needs. Candidates with strong stakeholder engagement skills are needed to drive process improvements and cost savings, and proven experience managing workloads in a fast paced environment. Within financial services, risk and audit remain the focus as regulatory standards mature both on a national scale as well as a global scale. Within professional practice, employers are ramping up their recruitment as demand for their consultative approach services increases. FINANCIAL SERVICES The distance between financial services and banking services has widened due to our nation s banks fall from grace and this has created further opportunities for independent brokers and advisors to take market share and re-educate their clients. The general brokering market has come through choppy waters and the reality of a hardened market has stayed at arm s length. Trusted brokers now have to consult, compete and more importantly, give best advice. A number of major insurance groups have decided to establish their pan-european operational headquarters in Ireland and a number of others are considering such a move, a trend warmly welcomed by Government and State bodies. A further welcome to the migration of on-shore reinsurance businesses from Bermuda and other off-shore jurisdictions that have been focused on under Obama s administration s off-shore tax proposals. This lends itself to job creation and shows a faith in the Irish insurance regulatory structure. This should bode well for the continued growth of the Irish Financial market. National Average p/a Senior Executive CEO/Managing Director 285,000 Chief Operating Officer/COO 200,000 Head of Finance/CFO 150,000 Head of Compliance 112,500 Head of Information Technology 112,500 Head of Marketing 122,500 Head of Claims 110,000 Head of Underwriting 110,000 Treasury Director 125,000 Head of Risk 104,000 At Executive and Director levels, clear direction and leadership is being demanded across each sector, as companies have brought to roost salary reductions, salary ceilings and bonus freezes in recent times. A much greater emphasis is now being placed on retention of key staff, a better efficiency in communication both horizontally and vertically across the reporting bands, which falls at the Executive s doorstep. An accomplished Executive will now have to focus on both ends of the business, development and creation of new revenue and in cost containment. A heightened level of responsibility is now being required to monitor financial and fiscal activities of business. 5 6

5 IT PERMANENT IT CONTRACT National Average p/a National Average p/a National Average p/d National Average p/d Software Development Software Engineer -.Net, C# Asp.Net, SQL Server 50, Web Developer Design - DHTMLO, CSS, Javascript, XML and AJAX 40,000 Technical Architect - C#/.Net, Java, J2EE, MVC/ 82,500 Struts, Web Services, n-tier architecture Developer - PHP, Perl, Python, Ruby, UNIX, LINUX 60,000 systems Developer - C/C++ Windows, COM, DCOM, Unix/ 60,000 Linux Software Engineer - Java/J2EE. JSp, Servlets, XML, 55,000 XSLT, JSP, EJB, Spring, Hibernate, Struts Oracle SQL Server DBA, 55,000 Oracle PL/SQL Devloper 60,000 Database Developer 60,000 Developer - VB.Net, VB6, VBQ, Access 45,000 System Analysis Business/Systems Analyst (Mainframe, Midrange) 45,500 Business Analyst 45,500 IT/Project Management Project Manager 70,000 Infrastructure Project Manager 65,000 Programme Manager 95,000 Software Development Manager 85,000 Applications Support Manager 62,500 Change Manager 67,500 Business Process Manager 67,500 PMO Manager 67,500 Product Manager 67,500 CTO 105,000 Director of Development 120,000 ICT Consultant 62,500 SAP Consultant 75,000 Technical Support/IT Administration Senior Network Engineer (CCIE) 67,500 Network Support Administrator (Win 2000, 2003, 39,000 NT etc.) 2nd - 3rd Level Windows Systems Administrator 41,500 Unix System Administrator 55,000 Linux Systems Engineer 61,000 Linux Development Operations Engineer 67,500 IT Security Analyst 35,000 Security Engineer (CISSP/CISA/CISM) 53,500 IS Security Architect 57,500 IT Manager 65,000 Systems & Network Manager 62,500 Data Centre Infrastructure Operations Manager 72,500 Head of IT 60,000 Director of IT 105,000 Service Delivery Manager 65,000 Technical Support 3rd Level Network Engineer 47,500 UNIX Systems Qadministrator 45,000 A fast-moving and dynamic sector, IT is continuing to expand at a rapid pace year on year. The IT market remains very strong with an ever increasing demand for skilled candidates across many sectors such as Software Engineering, Project Management, Business Analysis and Testing as well as Web technologies. The performance growth within the IT industry is showing no sign s of slowing down. The demand for Senior Developers and Data Analysts is driving a competitive increase in salaries. Senior test leads and managers are in high demand with year on year growth. Employers are now regarding their IT function as a vital part of their organisation and as a business value. Many organisations that require IT professionals have found it extremely difficulty in finding quality hires whether on a contract or a permanent basis. Software Development Mainframe RPG400, GUI, Java 325 C#/VB.Net 325 C/C Lotus Notes PHP 290 Graphic Design System Analysis Business/Systems Analyst 400 (Mainframe, Midrange) Business/Systems Analyst (Client Server) 400 Business/Systems Analyst (RDBMS) 400 Business/Systems Analyst (.Net) 400 IT/Project Management Project Manager (Mainframe) 350 Project Manager (Midrange, Client Server, RDBMS) 425 Project Manager (.Net) 425 Network Support Manager 350 IT Manager 325 Support/Administration 3rd Level Support 260 Systems Administration (UNIX, Multiplatform) 400 Systems Administration (Windows NT) 350 QA/Technical Writing/Localisation QA Engineers 300 Technical Writers Localisation Engineer 275 Localisation Tester 275 Test Manager 450 Apps DBA 500 SQL DBA Developer 400 Data Warehouser 475 The contract market is in a slightly better position than a year ago. It is worth remembering that this is still an excellent position. Contractors skilled in software engineering, project management or straight IT management were among last years hottest candidates (each up by more than 10%), as were contract IT directors up by 200%, albeit from an extremely low base. In the contracting market to date, the most sought after skills at the moment are seen in the BI/Data space such as BA s, PM s, QA s and BI Analysts. Also on the contract side, Business Analysts with Agile experience and Finance business analysts with SEPA remain most in demand. The forecast for 2014 is looking extremely positive for the IT market as a whole. All the signs are that there will be both month-onmonth and year-on-year growth. Logistics Specialists Technical Undrwriters 42,500 QA Engineers 45,000 Localisation Engineers 35,000 ERP Consultancy/Specialist Roles Consultant (SAP) 625 Developer (ABAP) 525 Consultancy 7 8

6 MARKETING National Average p/a Marketing Marketing Manager 82,500 Marketing Comms Manager 80,000 Product Development Manager 70,000 Digital Marketing Manager 90,000 The world of marketing is changing to the point where it is no longer seen as a cost centre for businesses but is now considered as a revenue generating function. More than ever, marketeers are required to be commercially astute with P&L responsibilities. Digital marketing will continue to be a key driver of growth in 2014 in the marketing sector. There is really no indication that the demand for digital marketing professionals will subside anytime soon. Companies are now building digital marketing teams, as opposed to just having one digital specialist in their marketing department. We are seeing new and more specialised roles coming onto the market such as Community Manager or Marketing Manager. Salaries on the whole are similar to last year. They remain competitive in areas where specialist skill sets are in high demand such as digital, loyalty, data analytics, insights, innovation and proposition development. What we have noticed is that performance related bonuses are becoming popular again. 8

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