Regulatory pressure drives salary growth for accountancy professionals in financial services
Published: 25 Jan 2017 By Alan O'Doherty
At exec-appointments we are fortunate to be able to count many of the world’s leading recruitment consultancies as clients. While we (obviously) treat them all alike^, it’s always worthwhile keeping tabs on the results of their research and, in particular, their salary surveys. As benchmarks for the thousands of candidates who use our site each year, these can be invaluable. With that in mind, we are pleased to include this brief, guest blog from Robert Walters, the first of two looking at specific salary trends, as revealed by their Global Salary Survey for 2016.*
James Dunne, exec-appointments.com
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In the finance sector, our survey of salary trends shows that finance professionals in regulatory focused roles will see the strongest salary growth in 2017.
With pressure from regulators remaining high, finance professionals with a background in regulatory reporting and internal audit can expect to see strong demand for their skills as employers look to ensure compliance with legislation and guidelines set out by regulators.
My colleague, Marcus Blackburn, Associate Director at Robert Walters (pictured here), comments,
“While the uncertain economic climate has impacted salaries in many fields, securing and retaining top talent in regulatory reporting and internal audit remains a top priority for employers.
“Employers looking to secure the best professionals in these fields will need to ensure that salaries are competitive but should not neglect other key factors in attract top talent.
“Increasingly, we are seeing finance professionals looking for employers who can provide flexible working arrangements and other initiatives to promote a good work life balance, as well as the potential for structured career progression.
“With employers looking to build robust internal audit and regulatory reporting teams, professionals at these levels who can demonstrate strong technical proficiency while also being able to develop and implement strategic policies will be most highly sought after.”
While salary growth will be strongest at junior and mid-management level, with regulatory reporting, mid-level positions such as VP and AVP will see the strongest salary rises of 6% and 7% respectively. Similarly, within internal audit, associate level positions will see salaries increase by 8%. Something to bear in mind when you’re next looking at your next big career move!
Alan O’Doherty, Robert Walters, London
^ To that end, if any other recruiters have information that they believe would be worth including as a guest blog here, please get in touch with firstname.lastname@example.org
* First released in 2000, the Robert Walters annual Global Salary Survey is a comprehensive overview of global salaries and recruitment trends across the world. The Global Salary Survey is based on the analysis of the permanent, interim and contract placements made across each of our geographies and recruitment disciplines during 2016. This now covers data from across 27 countries, including the UK and Ireland, Continental Europe, the Middle East, Africa, Asia, Australia and New Zealand as well as North and South America.