www.sigmar.ie Banking & Financial Services Salary Guide 2015

www.sigmar.ie Banking & Financial Services Salary Guide 2015

Sigmar Recruitment Sigmar Recruitment, established 2002, is a leading Irish recruitment services company with 15 specialist divisions across the entire recruitment process and managed service spectrum. We employ over 100 industry specialists in five offices in Dublin, Cork, Galway, and Poland. Sigmar has been recognised as Recruitment Agency of the Year (2014 & 2013) by the National Recruitment Federation due to our client delivery success, candidate experience and our innovative recruitment excellence methodologies. Sigmar was also named Best in Practice, Sales & Marketing Recruitment team in 2015. Our experience extends across Accountancy, Banking & Financial Services, Construction & Property, Engineering, HR, IT, Insurance, Legal, Marketing, Pharmaceutical, Office Administration, Multilingual, Sales and Supply Chain. View our current jobs on www.sigmar.ie or contact our team on +353 1 4744600 or email info@sigmar.ie @SigmarIrl

Banking & Financial Services As predicted, 2014 was a relatively positive year in terms of growth within the financial services industry in Ireland. In particular the latter half of 2014 saw a significant increase in new financial businesses deciding to establish operations in Ireland and other groups unveiling significant expansion plans. This led to an increase in both opportunities and demand for appropriately skilled candidates. The outset of 2015 brings with it an air of optimism as for the first time in many years opportunities at executive level of VP and Director are once again prevalent in the marketplace. Opportunities at these levels generally have a natural chain reaction of growth and this coupled with many organisations forecasting expansion gives us confidence that 2015 should be a positive year for opportunities. But along with this growth comes a number of challenges - most notably talent retention. With more opportunities forecasted in the marketplace, how will organisations in 2015 equip themselves to retain their talent? Indeed restructuring of benefits packages, widening bonus bands and salary increases are all on the table for the year ahead across the market. Domestic/retail banks in 2014 continued to make redundancies and their demand for talent was predominantly within debt restructuring and lending arrears albeit on fixed term contract basis but a number of key private equity groups have positioned themselves in the marketplace and have taken on loan books and have hired appropriately qualified banking staff who were readily available in the market. The hiring in this space is expected to slow in 2015. The overall outlook for retail/domestic banking in 2015 still remains somewhat uncertain with the expectation that more branch closures, restructuring and outsourcing plans will impact the need for headcount. Towards the end of last year we did see a slight upsurge in demand for credit analysts and it is expected that this demand will continue this year. Salaries in retail banking have been stagnant for quite a number of years but it is expected that this year some of the groups who have completed restructuring exercises will at last be able to address this and look at increases, benefits and bonuses once again. The fund administration/asset management/securities industry in Ireland has quite simply been the employment jewel in the crown for financial services over that last few years, now employing over 12,500 people with the expectation to grow even further in 2015. This industry has offered a huge array of opportunities across fund accounting, transfer agency, custody, middle office, regulatory and client servicing at all levels. The demand for talent in this area for 2015 is expected to be higher around niche areas of project management, client on-boarding, trustee, regulatory and specific product areas like private equity and ETF. Salaries in this industry have wider bandwidths. Even graduate level has a range as many graduates come equipped with 6-12 month s work experience gained in their third year of study. Talent management and staff retention has been a major focus of many organisations in this industry over the last 12 months and this trend is expected to continue in 2015. There has been a significant increase in roles requiring candidates to work shift hours either early morning or late evenings to accommodate various markets. Although shifts are generally rewarded with premium allowances, recruitment and retention of staff for specific shifts has proved to be somewhat difficult in 2014 and with the expectation that more inward business to Ireland requiring shift patterns is on the cards in 2015 it will remain a challenging issue to tackle. In the latter half of 2014 and early 2015 a few financial services organisations have taken strategic steps in opening up offices away from the city centre hubs. The implications of this will play out in 2015 and should be interesting to watch. 3

The demand for talent to undertake contract and temporary assignments has remained high through 2014 and should continue to do so over the course of 2015. Employers with specific short term needs or project focused assignments can tap into the supply of candidates who see contracting as a viable career option. Those with specific niche project/product skills (including regulatory) have been able to capitalise on their experience and have been able to benefit financially in a high demand area. For others taking temporary assignments has been a logical way to re-enter the market place after periods of travel and has in many cases led to being offered permanent positions. Overall the contract/temporary assignment market within financial services has matured quite quickly under the watchful eye of The Agency Workers Act which has made huge progress in protecting temporary workers. The banking and financial services industry in 2015 looks set to have a year where demand for talent will be pushed further than it has been in recent years. Demand for temporary, contract and permanent opportunities across the sector is set to remain high. Although it is logical to think that talent demands will drive salary levels higher in specific areas we fully expect that many groups will concentrate further on talent retention and talent development to ensure they have the best talent to drive their businesses forward. RETAIL BANKING Senior Commercial Banking Manager 60-80k 70-90k 90-130k 55-70k 75-80k 85-110k Commercial Lending 36-45k 50-60k 65k + 30-35k 40-50k 55k + Head of Risk Modeling (SAS/SPSS/VBA/SQL) 70-90k 90-110k 100-150k 65-80k 80-100k 100-130k Credit Risk Modeling (SAS/SPSS/VBA/SQL) 35-48k 45-70k 70-90k 30-40k 45-60k 60k + Equity Analyst 35-40k 42-50k 50k + 30-35k 40-45k 50k + Senior Credit Analyst 38-40k 42-50k 60k + 35-40k 40-45k 60k + Risk Analyst 35-40k 45-55k 65k + 30-35k 35-45k 48k + Underwriter 30-32k 32-40k 45k + 25-28k 30-35k 45k + Credit/Loans Administrator 21-24k 25-27k 32k + 20-22k 24-26k 28k + Mortgage Administrator 21-24k 25-27k 30k + 20-22k 24-26k 28k + Mortgage Collections 22-26k 26-35k 40-60k 21-24k 25-30k 35k + Bank Assurance Advisor 21-24k 25-27k 30k + 20-22k 24-26k 28k + Customer Service 21-24k 25-27k 30k + 21-23k 24-26k 28k + Retail Banking 19-22k 24-26k 27k + 19-21k 22-24k 25k + 4

CORPORATE/PRIVATE BANKING Senior Private Banking Manager 65-75k 80-90k 90k + 60-65k 70-80k 80k + Senior Corporate Banking Manager 65-75k 80-90k 90k + 60-65k 70-80k 80k + Senior Equity Analyst 50-65k 70-75k 80k + 50-55k 60-65k 70k + Risk Manager 60-65k 70-75k 80k + 55-60k 65-70k 75k + Credit Manager 55-60k 60-70k 80k + 45-50k 55-65k 75k + Lending Officer 45-50k 55-60k 65k + 40-45k 50-55k 55k + Private Banking Manager 45-50k 55-60k 65k + 45k 50-55k 60k + Relationship Manager 45-50k 55-60k 70k + 45k 50-55k 60k + Portfolio Administrator 25-28k 32-40k - 23-26k 28-35k - TREASURY Head of Treasury 85-95k 100-110k 130k + 75-85k 90-100k 115k + Treasury Operations Manager (Back Office) 60-65k 65-70k 70-90k 60k 65k 80k + Treasury Specialist 28-35k 35-45k 50-60k 26-32k 32-40k 45k + Treasury Administrator 20-26k 26-32k 32-45k 20-25k 25-30k 32-40k Treasury Risk 28-35k 35-50k 55-70k 25-32k 32-45k 45-60k Treasury Dealer 20-34k 40-55k 55-75k 21-30k 35-45k 45-75k 5

FRONT OFFICE Senior Wealth Manager 60-65k 65-75k 75-90k 55-60k 60-70k 70-90k Wealth Manager 45-55k 55-60k 60-80k + 38-45k 45-55k 55-70k + Financial Adviser 28-35k 35-45k 45-55k 26-32k 32-40k 40-50k Senior Portfolio Manager 65-80k 75-85k 85-100k 60-70k 70-80k 80-100k Portfolio Manager 50-60k 60-65k 65-80k 45-55k 55-60k 60-75k Stockbroker 45-55k 55-65k 65-80k + 45-55k 55-65k 65-80k + Junior Stockbroker 28-35k 35-50k - 25-28k 28-40k - FX Sales Trader 40-50k 50-60k 60-70k 35-45k 45-55k 55-60k Equity/Bond Sales Trader 45-55k 55-65k 65-75k 40-45k 50-55k 55-65k Pensions/Investment Sales 25-35k 35-50k 50-60k 26-28k 28-45k 45-50k COMPLIANCE/LISTING Head of Compliance 80-90k 90-105k 110-120k + 70-75k 80-95k 100k + Compliance Manager 60-65k 70-75k 80-90k + 55-60k 65-70k 75k + MLRO 60-65k 70-75k 75k + 55-60k 65-70k 70k + Compliance Assistant Manager / Officer 40-45k 50-55k 55k + 30-38k 40-50k 50k + Compliance Administrator 25-28k 30-35k 35k + 24-27k 28-32k 32k + AML Officer 28-32k 32-42k 40-50k 26-30k 30-40k 40k + Fraud Risk Manager 45-50k 55-60k 65k + 40-45k 50-55k 60k + Fraud Risk Officer 25-30k 32-40k 45k + 24-28k 30-35k 40k + Listing Executive 30-35k 40-45k 55k + 28-32k 35-40k 45k + 6

FUND SERVICES VP Fund Accounting 85-95k 110-120k 130k + 75-85k 95-105k 120k + AVP Fund Accounting 70-75k 80-85k 95k + 60-65k 70-75k 85k + Fund Accounting Manager 55-60k 65-75k 75k + 50-55k 60-65k 70k + Fund Accounting Assistant Manager 40-45k 45-55k 55k + 35-40k 45-50k 55k + Senior Fund Accountant (2yrs exp) 28-35k 32-42k - 28-35k 32-40k - Fund Accountant 23-32k 30-35k - 24-32k 28-35k - CORPORATE ACTIONS/MARKET DATA Manager 55-60k 65-70k 70k + 50-55k 60-65k 65k + Assistant Manager/Supervisor 40-45k 50-55k 55k + 40k 45-50k 50k + Senior Administrator 28-32k 35-38k 38-45k 26-30k 32-35k 35-40k Administrator 23-28k 30-35k - 22-26k 28-32k - SHAREHOLDER SERVICES/TRANSFER AGENCY Head of Shareholder Services 85-95k 100-110k 120k + 75-85k 90-100k 105k + Shareholder Services Manager 60-65k 65-75k 80k + 55-60k 60-70k 75k + Shareholder Services Assistant Manager 40-45k 45-50k 55k + 35-40k 40-45k 50k + Shareholder Services Supervisor / Team Lead 35-40k 40-45k 45k + 30-35k 35-40k 45k + Shareholder Services Senior Administrator 28-32k 33-35k - 26-30k 31-33k - Shareholder Services Administrator 23-28k 30-32k - 22-26k 28-30k - 7

CUSTODY Head of Custody 65-75k 75-85k 90k + 60-70k 75-80k 85k + Custody Manager 55-60k 65-75k 75k + 50-55k 60-65k 70k + Custody Assistant Manager/Supervisor 40-45k 50-55k 55k + 35-40k 45-50k 50k + Senior Custody Administrator 30-35k 35-38k - 26-30k 31-35k - Custody Administrator 23-28k 30-35k - 21-26k 28-30k - FINANCIAL REPORTING Financial Reporting Manager (Qualified) 60-65k 65-75k 80k + 55-60k 60-70k 75k + Financial Reporting Supervisor (Qualified) 40-48k 55-60k 65k + 35-45k 50-55k 60k + Financial Reporting Supervisor (Part Qualified) 35-40k 40-45k 55k + 30-35k 40-45k 50k + Financial Reporting Administrator (Part Qualified) 25-30k 32-35k - 23-28k 30-32k - All salaries taken as annual in Euros, based on working in Ireland. Bonus/Car Allowance not included. Figures are based on current market rates. Salaries are subject to variances based on the individual, the company size and other external factors. Parameters indicate the highest and lowest salary level for each position. 8

Contacts Dublin 13 Hume Street, Dublin 2 Tel: +353 (0)1 4744600 Email: info@sigmar.ie Cork 33 South Bank, Crosses Green, Cork Tel: +353 (0)21 431 5770 Email: cork@sigmar.ie Galway Dockgate, Dock Road, Galway Tel: +353 (0)91 563868 Email: galway@sigmar.ie www.sigmar.ie 9