MARKET TRENDS & SALARIES REPORT 2014-2015 UNITED KINGDOM
WELCOME
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Contents Introduction 4 Key Survey Findings
6
Results
6
Professional Services Finance
13
Business Development & Marketing Professional Services
21
Business Support
27
Financial Services Finance & Operations
31
About Ambition
42
Contacts and Support
46
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Introduction Welcome to the 2014-2015 Market Trends & Salaries Survey from Ambition. 2014 was certainly a busy year as the markets continued to improve and our clients became increasingly focused on adding headcount. As you will see from the results of our survey, business confidence is currently high and we are looking forward to a particularly busy 2015. Some of the survey results have been rather surprising, notably the fact that most candidates polled think that in order to get a pay rise they need to find a new job. This desire to chase a salary increase does not bode well for many employers as turnover will cause huge headaches in 2015. The candidate market is already extremely tight and these results point to things getting even tighter. We have already noticed that the best candidates have multiple opportunities to look at and salaries are well on the up. So if you have particular employees you really want to hang on to, now might be the time for a positive pay review. It is very pleasant to be writing about business confidence and in this report you will see that our clients and candidates are expecting salaries and bonuses to increase after an extended period of getting very little at all. I mentioned in last year’s report that I was highly likely to be discussing more positive outlooks for bonuses and pay rates in 2015 and this has been borne out by these results. However, we should remember not to focus all efforts on financial reward alone as other benefits still carry much weight. As was the case in 2013, the majority of candidates polled in this year’s survey said that a lack of career progression is the main reason they would resign from their job rather than due to dissatisfaction with their salary. Employers must never underestimate the value of non-financial rewards and clear career and progression plans.
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The use of social media is still on the rise and many employers admit to reviewing potential hires’ LinkedIn profiles as a minimum. It will be interesting to see how the use of services such as LinkedIn evolve over the coming years as we wait for the next big thing to come along and take over the way jobseekers and employers find each other. This is inevitable with the pace of technological development these days and is probably closer than we might think. The demand for temporary/contract/interim workers is certainly coming back with a vengeance. As permanent headcount remains unfilled due to a lack of available talent, the use of temporary backup is only going to rise. If you also take into consideration numerous ongoing projects, business transformations and all the regulatory changes that we are faced with then experienced temporary workers will be a hot commodity through 2015. I hope you find the information provided in this report to be of use and if you require more detailed information please do not hesitate to contact us at Ambition and we would be very happy to assist. I would like to take this opportunity to thank all our candidates and clients for their continued support and we look forward to partnering with you throughout 2015 and beyond. Andrea Williams Managing Director, UK
Ambition – Market Trends & Salaries Report 2015 United Kingdom
KEY SURVEY FINDINGS Methodology In December 2014, Ambition invited employees and employers across a variety of organisations to complete our 2014-2015 Salary and Employment Survey. This in-depth survey covered six core areas, including:
§§ Salary & Remuneration §§ Benefits §§ Workplace Conditions
§§ Career §§ Technology & Social Media §§ Business Performance and Outlook
Respondents The Ambition Salary and Employment Survey was completed by over 800 respondents drawn from our client and candidate database. Respondents were spread across industry sectors. 60% candidates surveyed are currently employed at team member level whilst 52% of employers surveyed were from senior manager level upwards.
Results Summary The results of this survey indicate that confidence is returning to the market. Although nearly half of employees surveyed did not receive a salary increase in the last 12 months, the majority expect to receive a bonus next year. 82% of employers confirmed that they do expect to give bonuses in 2015, indicating a positive outlook this year. Salary remains the greatest priority for most candidates when looking for a new job, even though the majority stated that lack of progression is the main factor which would cause them to leave their current position. This tends to go against much of what is written in the press about money no longer being the main motivator, so this was an interesting result. The temporary and contract market is also picking up, with 62% of employees being open to working in a temporary/contract role, compared with just 53% of those we surveyed last year. Hiring managers are increasingly using social media during the recruitment process. 70% of employers surveyed now view the social media profiles of potential hires compared with 56% in 2013. Overall the outlook is positive for recruitment in 2015. 76% of companies performed better in 2014 than 2013 and 67% have seen staffing levels increase over the past 12 months. 6
The majority of respondents (59%) expect to receive a bonus in 2015.
72% of employees have not received a bonus in the last 12 months. Of those who did receive a bonus, 45% received less than 5% of their base salary.
49% of employees surveyed indicated they have not received a salary increase in the last 12 months whilst 21% indicated they had received a salary increase of 0-2%.
82% of employers surveyed said they expect to give bonuses in 2015.
49%
According to employers surveyed, the most important factor that will affect employees’ bonus figures in 2015 is:
What is the best way to get a salary increase? Change jobs - 71% Get a promotion - 24% Work longer hours - 4% Change careers - 1% Company performance - 57% Individual performance - 27% Current economic climate - 14% Relationship with manager - 2%
75% 75% of employees said that their company offers flexible working hours.
The most common benefits being offered by employers are:
84%
Healthcare
77%
Enhanced pensions
73%
Life Insurance
73%
Study/training allowances
68%
Childcare benefits
SURVEY FINDINGS
REMUNERATION AND BENEFITS
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Employees cited the most important factors to consider when switching jobs as:
34%
14%
11%
10%
11%
8%
5%
4%
3%
Salary Opportunities Location Benefits Company Company Company The Flexible for culture brand strategy/ Manager working advancement direction conditions
How easy do you think it would be to find a job in the current market?
19% Easy
64%
17%
Competitive
Difficult
When do you next anticipate moving jobs? Now 3 - 6 months 6 - 12 months 1 - 2 years > 2 years I don’t know
22%
18%
12%
17%
CAREER PROGRESSION
37%
8
of employees believe they can progress to the next level in their company.
58% more than half would move location to further their career.
67% would be open to working in a temporary or contract role. .
22%
9%
59% The majority of respondents believe that their company invests enough in training and development.
60% of companies offer flexible working. Of these, 74% allow employees to work from home and 44% enable part time working.
35% The main reason employees would resign from their job is due to lack of career progression.
38% would like to have more training in management techniques and 34% believe training is lacking in skills core to their role.
67% of respondents indicated that staffing numbers have increased in the last 12 months, whilst 33% said they have stayed the same.
SURVEY FINDINGS
TRAINING AND DEVELOPMENT
Ambition – Market Trends & Salaries Report 2015 United Kingdom
TECHNOLOGY & SOCIAL MEDIA
70%
10
The use of social media by employers has increased - 70% view social media profiles of potential employees compares with 56% of employers surveyed last year.
68%
68% of employees use social media for work. Of this, 66% use LinkedIn.
66%
66% of employees have been approached via LinkedIn for career opportunities.
Overall the outlook is very positive for 2015.
76% of companies performed better in 2014 compared to 2013.
67% of companies have seen staffing levels increase in 2014, whereas in last year’s survey, 48% of respondents indicated that staffing numbers had been reduced in 2013.
Both employer and employee confidence are high: 85% of employers said that growth is anticipated in 2015.
53% The majority (53%) of jobseekers see competition as the most difficult challenge they would face when looking for a new job. Only 25% cited lack of jobs.
42%
of employees rated morale as high or very high in their company.
SURVEY FINDINGS
OUTLOOK
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SURVEY FINDINGS
PROFESSIONAL SERVICES FINANCE Market Overview Key Trends
PROFESSIONAL SERVICES FINANCE
Salaries 2015
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Ambition – Market Trends & Salaries Report 2015 United Kingdom
PROFESSIONAL SERVICES FINANCE Market Overview Legal The legal sector’s internal finance teams in London had mixed fortunes in 2014. There was increasing demand for accounting teams to provide an in-house consulting function to fee earners and other business services teams. Consequently, we saw a continued trend of new roles being created with an emphasis on analysing and commenting on pricing, profitability and utilisation as well as providing transparent information to clients. This creation of new roles was offset by many firms choosing to relocate non-essential positions outside of London, the criteria of whether the position needed to be filled in London often being whether it required face to face Partner/fee earner interaction. An increase in commercial accounting and analytical roles in London was counteracted by a marginal decrease in transactional positions. Law firms’ clients’ demands for increased levels of management information and competitive pricing seems to be the key driver for the growth of commercially-focused positions and the advent of the Head of Pricing or Pricing Manager position is no longer restricted to only the very largest firms or US-led businesses. However, there is still a high proportion of businesses in the top 50 UK law firms that have a broader Commercial Finance Manager or Business Manager position with a remit including pricing, profitability, working capital and general client strategy. Although these are not new functions in the legal sector (indeed in many businesses they have been in place for several years), an increasing number of firms are now creating these positions and there does seem to be a growing emphasis on their importance. There is also a growing emphasis on analysing client performance during the WIP management process, leading to individuals in these roles receiving additional duties which in turn has led to a steady rise in salaries. In the Cashier function, residual balances received renewed attention and several firms created specialist roles for Senior Cashiers to focus on this area. Many firms also brought in contract or temporary staff to cope with this demand. 2014 saw the re-emergence of firms using temporary staff on an hourly rate. This was due to a number of reasons; spikes in workload, projects without defined timeframes leading to finance teams requiring additional headcount, or recruitment for permanent members of staff taking several weeks and a short term solution needed to ensure that the work was completed on time. This demand saw a noticeable rise in the numbers of temporary workers we recruited for multiple clients, a really positive sign that firms are now busy enough to be able to justify using this kind of resource for the first time in several years. 14
Accountancy practices have continued to experience positive recovery and expansion throughout 2014. The Big 4 saw significant growth in headcount with large recruitment campaigns pulling talent out of the mid-tier market to ensure the merry-go-round of the large audit tenders was sufficiently staffed. Mergers in the market over the last couple of years have seen firms such as BDO and Baker Tilly increase their market share whilst other smaller firms have been acquired by larger ones to boost certain areas of their practice. Due to increased confidence in the market, we have seen that throughout all sectors teams are expanding, favouring well trained ACA or ACCA newly qualified professionals alongside experienced, diligent accountants, to boost their companies’ figures.
SURVEY FINDINGS
Practice
The increase in Big 4 hiring coupled with significant recruitment within firms of all sizes has led to a vast shortage of talent in accountancy practices culminating in the candidate driven market we are currently experiencing.
To be amongst the firms that are most successful in their recruitment drives, it helps to focus on the points below: • • • • •
Ensure competitive salaries Provide tangible and visible career pathways Bonus availability Benefit packages Flexible working opportunities
2014 also saw the focus on Corporate Finance grow, with companies staffing teams across all levels. For newly qualified accountants this has always been an exciting alternative to Audit and Accounts so firms have been encouraging involvement and secondments in order to enhance retention. At the managerial level there are fewer candidates with available experience so firms are increasingly looking to the banks and boutiques to source talent. Overall, the sector has become candidate driven at all levels. Therefore, firms need to ensure they are looking after the talent they already have in place in order to retain individuals which is key for future growth. 15
PROFESSIONAL SERVICES FINANCE
Recruitment is paramount to the growth of most practices with most having run very lean teams over the past 5 years. Consequently, any resignations are now having a significant impact due to the length of time it takes to recruit new employees. We have found that firms winning new business have a clear advantage when it comes to attracting talent. The most sensible organisations are recruiting as and when they see high quality candidates to ensure their clients can be adequately serviced should new business be won.
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Insolvency The Insolvency Service’s summary for 2014 showed a continued decline in the number of businesses and individuals becoming insolvent. Administrations were at their lowest since 2004 while the number of companies that entered liquidation declined by 6.3% compared to the total in 2013. Bankruptcy orders were at their lowest since 1998 yet contract IVAs did increase 6.8% compared to 2013. All these figures would seem to suggest that more companies and individuals are starting to work closely with restructuring professionals to find solutions to managing their debts. These statistics directly impact the levels of recruitment in the profession and certain hiring patterns have started to emerge following this decline in formal insolvency appointments. One major outcome has seen Insolvency Practitioners starting to fully diversify their services to include debt restructuring, financing, advisory and turnaround solutions. This shift in focus has altered the skill set requirements that are now sought after by employers, meaning that those with traditional formal insolvency training are now struggling to find alternative employment at the mid-senior levels. In turn, the now sought-after candidates are either those coming in as fresh graduates or juniors with 1-2 years’ experience. This naturally lowers overhead costs and also serves to address the top heavy team structures that have become common-place in this market. The biggest recruitment challenge in this salary bracket is sourcing these types of candidates. Due to the downturn in the market, very few Insolvency Practices were recruiting Trainees in 2013 and thus the current candidate pool at this level is rather small and somewhat limited. With less firms going insolvent, Insolvency Practitioners across the UK have found it difficult to fully justify growing their headcount, especially at the experienced managerial grades. Therefore, recruiting fee generators who can come on board with a client following has become increasingly desirable. However, the current uncertainty and decline in the insolvency market has only served to ramp up the level of risk attached to moving and making such a hire.
Key Trends The temporary market is booming for the legal sector, indicating that confidence has returned to the market and firms are busy once again. Teams are expanding throughout all sectors in Practice and this increase in hiring is leading to a candidate driven market. Companies need to ensure that they are doing enough to stay competitive and appeal to potential talent. With less firms becoming insolvent, Insolvency Practitioners are diversifying their services, altering the skillset requirements sought by employers. 16
SALARIES 2015 - Professional Services Finance Legal Finance PERMANENT SALARY PER ANNUM (£) Finance Director Financial Controller (1st - 2nd Tier) Fully Qualified Accountant - 5 yrs+ PQE 3-4 yrs PQE 1-2 yrs PQE Revenue Manager Credit Manager Accounts Manager Billings Manager Head Cashier Newly Qualified Senior Biller Senior Legal Cashier Accounts Payable Supervisor Legal Biller - 2 yrs+ up to 2 yrs Legal Cashier - 2 yrs+ up to 2 yrs Credit Controller - 2 yrs+ up to 2 yrs Accounts Payable - 2 yrs+ up to 2 yrs
140 - 250k 90 - 150k 70k+ 60 - 70k 50 - 65k 45 - 80k 45 - 70k 50 - 70k 45 - 60k 45 - 70k 45 - 55k 37.5 - 47.5k 34 - 40k 35 - 50k 28 - 37k 25 - 30k 28 - 30k 25 - 30k 28 - 40k 18 - 28k 25 - 32k 20 - 25k
CONTRACT RATE PER HOUR unless stated (£) 600 - 1000 per day 380 - 600 per day 40 - 50+ 34 - 40+ 27 - 34 25 - 50 28 - 31 30 - 37 25 - 30 25 - 30 25 - 30 21 - 25 21 - 25 25 - 30 15 - 22 12 - 16 16 - 22 15 - 18 16 - 25 12 - 16 15 - 20 11 - 15
PROFESSIONAL SERVICES FINANCE
ROLE
Audit ROLE
PERMANENT SALARY PER ANNUM (£)
Partner Director Senior Manager / Associate Director Audit Manager Accounts Manager Assistant Manager Audit Senior Finalist - ACA / ACCA Trainee Graduate
100k+ 80 -120k 60 - 90k 60 - 70k 55 - 65k 45 - 55k 38 - 45k 30 - 38k 21 - 30k 20 - 25k
CONTRACT RATE PER HOUR unless stated (£) N/A 400-500 per day 35 - 40 35 - 37 28 - 34 26 - 30 25 - 28 16 - 25 N/A N/A 17
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Accounts ROLE
PERMANENT
80 - 140k 60 - 100k 50 - 65k 40 - 55k 40 - 55k 40 - £55k 25 - 35k 25 - 35k 22 - 32k 20 - 30k 20- 30k 20 - 30k 30 - 40k 25 - 35k 20 - 25k
CONTRACT RATE PER HOUR unless stated (£) 400 - 600 per day 300 - 450 per day 250 - 300 per day 225 - 275 per day 225 - 275 per day 270 - 450 per day 13 - 18 13 - 18 12 - 16 11 - 14 11 - 14 11 - 14 14 - 16 12 - 15 9 - 11
PERMANENT
CONTRACT
SALARY PER ANNUM (£)
RATE PER HOUR (£)
180k+ 100 - 170k 65 - 100k 60 - 70k 45 - 55k
N/A 50 - 85 36 - 50 30 - 36 24 - 30
PERMANENT
CONTRACT
SALARY PER ANNUM (£)
RATE PER HOUR (£)
SALARY PER ANNUM (£) Finance Director Finance Controller Finance Manager Management Accountant Qualified Financial Accountant Qualified Finance Analyst Qualified Asisstant Management Accountant (PQ) Assistant Financial Accountant (PQ) Assistant Accountant Credit Controller Cashier Accounts Payable / Receivable Senior Bookkeeper Bookkeeper Junior Bookkeeper
Corporate Finance ROLE
Partner Director Senior Manager / Associate Director Manager Executive
Forensic Accounting ROLE
Director
90 - 140k
50+
Senior Manager / Associate Director (5 - 10 yrs PQE)
65 - 100k
38 - 55
Manager (3 - 6 yrs PQE) Assistant Manager (1 - 3 yrs PQE) Newly Qualified
52 - 70k 43 - 50k 41 - 46k
28 - 45 23 - 30 22 - 27
18
Compliance ROLE
Risk and Compliance Lawyer Compliance Manager (not Lawyer) Compliance Assistant Manager Compliance Officer Compliance Analyst (Conflicts/ AML)
PERMANENT
CONTRACT
SALARY PER ANNUM (£)
RATE PER HOUR (£)
45 - 80k 60 - 80k 40 - 55k 35 - 45k 25 - 35k
23 - 41 31 - 41 21 - 28 18 - 23 12 - 18
ROLE
PERMANENT
CONTRACT
SALARY PER ANNUM (£) 80 - 120k 60 - 90k 55 - 70k 50 - 60k 40 - 50k 40 - 50k 35 - 40k 25 - 35k 25 - 30k 25 - 30k 20 - 30k
RATE PER HOUR unless stated (£) 400 - 600 per day 300 - 450 per day 250 - 300 per day 250 - 300 per day 225 - 275 per day 225 - 275 per day 150 - 180 per day 13 - 18 13 - 15 13 - 15 10 - 15
PERMANENT
CONTRACT
SALARY PER ANNUM (£)
RATE PER HOUR (£)
100k+ bonus 85 - 100k 65- 85k 55 - 65k 48 - 55k 38 - 50k
N/A 45 - 55 35 - 45 30 - 40 28 - 30 25 - 28
Senior Adminsitrator (CPI/ICAEW Insolvency/ACA/ACCA)
34 - 45k
20 - 25
Senior Administrator Unqualified (3 - 4 yrs)
28 -35k
16 - 23
Administrator Junior Administrator Senior Cashier Cashier
22 - 28k 18 - 22k 30 - 36k 22 - 30k
14 - 16 11 - 14 17 - 22 13 -17
Finance Director Finance Controller Finance Manager Property Accountant Management Accountant Qualified Financial Accountant Qualified Service Charge Accountant Credit Controller Accounts Payable Accounts Receivable Accounts Assistant
PROFESSIONAL SERVICES FINANCE
Property
Insolvency ROLE Partner Director Senior Manager Manager Qualified (JIEB) Manager Assistant Manager / Supervisor
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BUSINESS DEVELOPMENT & MARKETING professional services Market Overview
Salaries 2015
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BUSINESS DEVELOPMENT & MARKETING
Key Trends
Ambition – Market Trends & Salaries Report 2015 United Kingdom
BUSINESS DEVELOPMENT & MARKETING Professional services Market Overview With professional services firms further investing in their marketing and business development teams, we are seeing a wider variety of roles being created. There has been a particular increase in communications positions as many firms are creating dedicated specialist teams to look after internal/external communciations, social media strategies, projects around thought leadership as well as PR functions being progressively brought in-house. Talent for pitch positions has always been hard to come by and this has continued to be the case through 2014. Some larger firms have adapted the traditional pitch role to suit their team members’ individual strengths, focusing specifically on writing or project management. As teams get larger, firms are increasingly hiring according to very specific skillsets rather than trying to recruit according to a ‘one size fits all’ specification. The creation of more specialist pitch roles has also filtered into other areas such as practice and sector specific business development teams. Whilst there was a slight increase in temporary roles in 2014, we saw an even greater increase in the number of fixed-term contracts being created. In 2015 we expect to see a rise in both temporary and contract roles as the market becomes more confident in the flexibility they offer for employers and employees alike. The majority of temporary roles we recruited in 2014 were at the assistant/executive level and mainly consisted of design and CRM professionals. With many firms now providing more of an international offering to their clients, more marketing and business development roles are being created to focus on specific global regions. This has been very appealing to candidates who have only ever worked on UK initiatives. Firms are also changing their go-to market strategy, transitioning into a sector -wide approach which has led to more sector aligned business development roles and dedicated client teams, creating opportunities for employees to become more specialised. As more new and specialist roles are being created, employers are increasingly having to look outside the sector to secure talent. Firms have been resistant to candidates coming from other sectors although many of these candidates can bring a refreshing commercial outlook to the business. A confident demonstration of stakeholder management from 22
other sectors is a transferable skill needed for the professional services sector. With increasing demand for this commercial outlook these candidates often bring, 2015 will see the demand for these skills increase. Due to candidate shortages, firms are also making a greater effort to retain talent as well as offering additional benefits to their employees including flexible working, working from home and some have sponsored candidates from outside the UK. We anticipate further growth for 2015. This activity will bring new challenges and with this the value of a consultative service will be evermore important. Talent will be harder to find and firms will need to be open to exploring candidates from outside of sector. Salaries will increase due to the candidate short market and many firms will make a greater effort to retain existing talent.
Key Trends In large firms, generalist roles are being replaced with newly created specialist positions.
The candidate shortage within Professional Services means that many firms will need to look outside the sector to secure talent Salaries are likely to rise in 2015 due to a shortage of experienced candidates.
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BUSINESS DEVELOPMENT & MARKETING
The number of temporary and fixed-term contract roles available is likely to increase in 2015 due to renewed confidence in the market.
Ambition – Market Trends & Salaries Report 2015 United Kingdom
SALARIES 2015 - Business Development & Marketing Professional Services ROLE Business Development BD Director Head of BD Senior BD Manager BD Manager Senior BD Executive BD Executive BD Assistant BD Administrator Client Relationship Management Head of Client Relationships Senior Client Relationship Manager Client Relationship Manager Senior Client Relationship Executive Client Relationship Executive Proposal / Bid Specialists Head of Bids Senior Bid Manager Senior Bid Executive Bid Executive Bid Assistant Marketing Head of Marketing / Marketing Director Senior Marketing Manager Marketing Manager Senior Marketing Executive Marketing Executive Marketing Assistant Marketing Administrator PR Head of PR / Communications (Global remit)
PERMANENT SALARY PER ANNUM (£)
CONTRACT RATE PER HOUR (£)
100k+ 85 - 100k 65 - 80k 45 - 65k 38 - 45k 30 - 40k 25 - 30k 22 - 25k
50+ 44 - 51 33 - 41 23 - 33 19 - 23 15 - 21 13 - 15 11 - 13
80 - 100k 65 - 75k 50 - 65k 35 - 50k 30 - 40k
41 - 51 33 - 38 26 - 33 18 - 26 15 - 21
75 - 100k 60 - 75k 40 - 50k 30 - 38k 25 - 30k
38 - 51 31 - 38 21 - 26 15 - 19 13 - 15
80k+ 60 - 75k 45 - 60k 35 - 40k 30 - 35k 25 - 28k 21 - 24k
40+ 31 - 38 23 - 31 18 - 21 15 - 18 13 - 14 11 - 13
80 - 120k
41 - 62
Head of PR / Communications (National or Europe remit)
65 - 90k
33 - 46
PR Manager PR Senior Executive PR Executive PR Assistant
50 - 60k 40 - 50k 30 - 40k 21 - 24k
26 - 31 21 - 26 15 - 21 11 - 13
24
ROLE Communications (including internal coms and CSR) Communications Manager Senior Communications Executive Communications Executive Communications Assistant Design Senior Design Executive Design Executive Design Assistant Events Head of Events Events Manager Events Senior Executive Events Executive Events Assistant CRM Database CRM Database Manager CRM Database Executive / Steward CRM Database Administrator / Assistant Digital / Web / Online Head of Online Web Content Manager / Online Manager Social Media Executive Web Content Executive Web Content Assistant
PERMANENT SALARY PER ANNUM (£)
CONTRACT RATE PER HOUR (£)
50 - 60k 40 - 45k 30 - 35k 25 - 28k
26 - 31 21 - 23 15 - 18 13 - 14
35 - 45k 30 - 35k 23 - 28k
18 - 23 15 - 18 12 - 14
60 - 80k 45 - 60k 35 - 45k 30 - 35k 23 - 27k
31 - 41 23 - 31 18 - 23 15 - 18 12 - 14
40 - 60k 30 - 35k 25 - 28k
21 - 31 15 - 18 13 - 14
70 - 85k 45 - 60k 30 - 35k 30 - 35k 25 - 28k
36 - 44 23 - 31 15 - 18 15 - 18 13 - 14
25
BUSINESS DEVELOPMENT & MARKETING
Professional Services
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BUSINESS SUPPORT PROFESSIONAL SERVICES
Market Overview Key Trends
BUSINESS SUPPORT
Salaries 2015
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Ambition – Market Trends & Salaries Report 2015 United Kingdom
BUSINESS SUPPORT Market Overview 2014 has been a year of growth and expansion within the business support market and this looks set to continue well in to 2015. Long gone are the days of recruitment freezes, with many London law firms now hiring new partners and fee earners and expanding their practice areas. Naturally, this is having a positive knock on effect when it comes to hiring new PAs and secretaries. Key areas that have seen growth in 2014 have been within Corporate and Property law and as these areas continue to grow, this in turn is leading to increased levels of confidence in the market. With the boom in these areas of law, Corporate and Property PAs are in high demand for law firms of all sizes. Yet as confidence levels return to the market and with recruitment steadily increasing, firms are now finding that they are all competing for the same high calibre candidates. 2015 will require firms to show more flexibility and openness when it comes to sourcing suitable candidates. Firms with narrow and too specific hiring strategies may find themselves lagging behind in the race to secure some of London’s top talent. With the ever evolving PA/secretarial role firms need to ask themselves if their recruitment processes reflect this changing role or whether they are still recruiting based on what this role once used to be. With firms racing to hire the best, we are now seeing an increase in the use of Skype and video interviews with the aim of speeding up the recruitment process in what is now a very competitive market. Another area that has improved over the latter part of 2014 has been the temporary market, with more firms being open to hiring temporary staff to cover any shortfalls in permanent headcount. The return of the temp is another positive sign in the market and recent indications show that temporary staffing options will be a more prominent part of firms’ recruitment strategies for 2015. Salaries are always a popular talking point when it comes to the annual market review and whilst our survey has shown that there hasn’t been any significant raises, firms that are offering more competitive salaries are slightly ahead when hiring. The bottom line for candidates will always remain a significant factor when they are looking for new opportunities and 2015 may see firms that pay below market rate struggle to compete. 28
Key Trends Hiring is on the increase in the legal sector, particularly in corporate and property law. Competition for experienced legal support staff is fierce. Firms will need to be flexible and offer swift recruitment processes in order to source top talent. Temporary recruitment will continue to increase in 2015. Salaries remained static in 2014 but are expected to rise in 2015 as more firms compete for the same high calibre candidates.
SALARIES 2015 - Business Support PERMANENT
CONTRACT
SALARY PER ANNUM (£)
RATE PER HOUR (£)
Secretarial Manager / Coordinator
45 - 70k
27 - 43
Office Manager
35 - 45k
21 - 27
Executive Assistant
36 - 45k
22 - 27
Personal Assistant
31 - 35k
19 - 21
Legal Secretary to Senior / Managing Partner
36 - 42k
22 - 25
Legal Secretary to Partner level
32 - 38k
19 - 23
Legal Secretary to Associate level
26- 32k
16 - 19
Legal Secretary 6-12 months’ experience
22 - 26k
13 - 16
Trainee Legal Secretary
18 - 23k
11 - 14
Legal Float Secretary
32- 38k
19 - 23
Team Secretary / Assistant
25 - 30k
15 - 18
Document Production Operator
33 - 36k
20 - 22
Evening Document Production Operator
35 - 38k
21 - 23
Receptionist / Switchboard Operator
24 - 28k
14 - 17
Facilities Assistant
22 - 27k
13 - 16
Post Room Assistant
18 - 24k
11 - 14
Reprographics Assistant
20 - 25k
12 - 15
Administrator
18 - 26k
11 - 16
BUSINESS SUPPORT
ROLE
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SURVEY FINDINGS
FINANCIAL SERVICES FINANCE & OPERATIONS
Financial Services Market Overview Key Trends
FINANCE & OPERATIONS
Salaries 2015
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Ambition – Market Trends & Salaries Report 2015 United Kingdom
Financial Services Market Overview 2014 saw an increased focus by companies on adding talent to their ranks. Most firms over the last 5 years have remained lean and have been vigilant with their spending, reducing costs through systems automations and continued redundancies. However, confidence has greatly increased and the prospects for 2015 look more positive with many companies, large and small, needing to hire talent again after being too lean for too long. There is plenty of hiring planned for this coming year and as organisations once again look for stability and growth, the demand for talent will certainly increase accordingly. Operations In 2014 we saw our first downturn in Commodities-focused hiring for a number of years. FX was also a little quieter than usual compared with 2013. We noted that, with the demand for candidates with derivatives clearing experience dying off due to the recent implementation of Dodd Frank and other regulatory changes, clients now seem to be focusing on strengthening their securities (Equity and Bonds) skillsets. There has been continuing demand for key buy side experience in areas such as Performance, RFP and Fund Administration. This side of the market is now very strong and we expect hiring levels to continue to increase in 2015. Most buy side clients are looking for individuals who have knowledge that goes beyond the scope of their specific responsibilities and who understand the knock on effect of their role within the company’s support functions. We have also seen a dramatic increase in the demand for data candidates, or more precisely those who have broad front to back knowledge. This is due to the new local data regulation changes which have resulted in most Operations Managers now seeing data as the most important support function in their company. Finance & Accounting In 2015, we anticipate that hiring of finance and accounting professionals across financial services will increase. 2014 saw salaries remain relatively flat across the industry with a slight uplift towards the end of the year. With a key focus on hiring quality candidates evident across the board, the competition to secure top talent will reinforce the fact that attractive salary packages and benefits will play a vital role for any organisation through 2015. There were several areas that saw an increase in recruitment activity during 2014 with signs of further increases to continue throughout 2015. Skills in demand include newly 32
qualified accountants in financial services audit, regulatory reporting, cost business partnering, fund accounting, internal audit as well as finance managers/controllers with the ability to train and develop growing teams. As the labour market continues to strengthen, the competition among newly qualified accountants will likely impact recruitment in 2015. The importance of hiring managers making decisions quickly and moving the process at a pace that will keep candidates engaged and valued will remain critical in securing top talent. So the message to our clients is if you are ready to start a recruitment process, make sure you are also ready to finish it. Insurance In the insurance industry, regulatory developments were a key driver of recruitment activity across the sector. Professionals with skills in Solvency II, IFRS, Own Risk & Solvency Assessment (ORSA) processes and Internal Audit were in high demand. The demand for these skills continued to increase throughout 2014 and will continue to do so in 2015, as hiring managers are increasingly interested in individuals who can immediately add value within their technical teams and communicate technical ideas to non-technical stakeholders.
With many clients now asking for more assistance with their recruitment strategies, we are pleased to announce that Ambition currently has specialisms in Operations & Middle Office, Finance & Accounting, Change Management and Compliance.
Key Trends Hiring levels will continue to rise in 2015, especially in Performance, RFP and Fund Administration. Finance & Accounting recruitment will also increase, particularly for newly qualified accountants. Attractive salary and benefits packages as well as a swift recruitment process will be key in securing top talent. In the insurance industry, there will be continued demand for professionals with skills in Solvency II, IFRS, Own Risk & Solvency Assessment (ORSA) processes and Internal Audit. 33
FINANCE & OPERATIONS
As the competition for top talent within the insurance industry intensifies, hiring managers will need to consider hiring professionals from the wider financial services industries such as banking and/or asset management that possess industry specific knowledge but may require elements of technical training.
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Salaries 2015 Operations ROLE
PERMANENT
CONTRACT
SALARY PER ANNUM (£)
RATE PER DAY (£)
N/A N/A 5+ yrs 2 - 5 yrs 0 - 2 yrs
80 -150k+ 70 - 100k+ 45 - 60k 37.5 - 55k 27 - 40k
300 - 580 270 - 380 140 -230 145 - 210 100 - 150
5+ yrs
45 - 60k
170 - 230
2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs
37.5 - 55k 27 - 40k 40 - 55k 32 - 50k 25 - 35k 45 - 60k 35 -50k 25 - 40k 35 - 50k 27.5 - 40k 22.5 - 30k 45 - 60k 32.5 - 47.5k 22.5 - 35k 45 - 70k 35 - 55k 25 - 40k 40 - 55k 32.5 - 45k 25 - 35k 40 - 55k 30 - 40k 22.5 - 35k
145 - 210 100 - 150 150 - 210 125 - 190 96 - 150 170 - 230 135 - 190 96 - 135 135 - 190 105 - 150 86 - 115 170 - 230 125 - 185 86 - 135 170 - 270 135 - 210 96 - 150 150 - 210 125 - 170 96 - 135 150-210 115 - 150 86 - 135
Treasury / Payments / Cash Management
5+ yrs
35 - 50k
135 - 190
Derivative Operations
2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs
27.5 - 40k 22.5 - 40k 45 - 60k 38 - 45k 25 - 37k
105 - 150 86 - 115 170 - 230 150 - 170 96 - 140
Operations Director / COO Head of Department Trade Support
Transaction reporting / Prime brokerage
Settlements / Clearing
Loans
Trade Finance
Client Servicing
Collateral
Reconcilliations
Corporate Actions
34
EXPERIENCE
ROLE
EXPERIENCE
Client Reporting / RFP
Performance Attribution
Fund Manager Assistant / Traders Assistant
Fund Administration
Data Management
Transitions
KYC / AML
Trade Compliance
Relationship Management
Investment/Research / Portfolio Analyst
PERMANENT
CONTRACT
SALARY PER ANNUM (£)
RATE PER DAY (£)
5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs
42.5 - 55k 35 - 45k 25 - 35k 50 - 75k 35 - 50k 25 - 35k
165 - 210 135 - 170 96 - 135 190 - 290 135 - 190 96 - 135
5+ yrs
45 - 65k
170 - 250
2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs 5+ yrs 2 - 5 yrs 0 - 2 yrs
35 - 50k 25 - 40k 40 - 55k 30 - 45k 25 - 32.5k 40 - 55k 32.5 - 45k 22.5 - 37.5k 40 - 50k 33 - 40k 25 - 33k 50 - 60k 40 - 49k 30 - 40k 55 - 70k 32 - 55k 25 - 32k 50 - 80k 35 - 50k 23 - 35k
135 - 190 96 - 150 150 - 210 115 - 170 96 - 125 150 - 210 125 - 170 86 - 145 150 - 190 130 - 150 96 - 130 190 - 230 150 - 190 115 - 150 210 - 270 120 - 210 96 - 120 190 - 310 135 - 190 90 - 135
5+ yrs
55 - 65k
210 - 250
2 - 5 yrs 0 - 2 yrs
43 - 54k 30 - 42k
165 - 210 115 -160
Change Management ROLE Programme Director Programme Manager Project Manager Junior Project Manager Senior Business Analyst Business Analyst PMO Project Support
PERMANENT SALARY PER ANNUM (£) 110 - 130K+ 90 - 110k 70 - 90k 50 - 70k 70 - 85k 50 - 65k 60 - 85k 30 - 50k
CONTRACT RATE PER DAY (£) 425 - 615 350 - 540 270 -400 190 - 310 270 - 325 190 - 250 230 - 325 115 - 190
FINANCE & OPERATIONS
Operations – Investment Management
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Compliance – Investment Management ROLE
PERMANENT SALARY PER ANNUM (£) 80k+ 50 - 75k+ 40 - 60k 60 - 75k 35 - 50k 25 - 35k
Head of Compliance Deputy Compliance Officer Senior Compliance Officer Compliance Manager Compliance Analyst Compliance Assistant
CONTRACT RATE PER DAY (£) 310 190 - 290 150 - 230 230 - 290 135 - 190 96 - 135
Finance – Investment Management ROLE
Financial Control CFO / Financial Director Financial Controller
Financial Reporting Manager
Financial Accountant
Regulation Head of Regulatory Reporting Regulatory Accountant
Management Reporting Head of Management Reporting Managament Accountant
Finance Business Partner
36
EXPERIENCE
PERMANENT
CONTRACT
NQ = Newly Qualified PQ = Part Qualified PQE = Post Qualified Experience
SALARY PER ANNUM (£)
RATE PER DAY (£)
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
120 - 150k+ 90 - 120k 110 - 140k+ 75 - 90k 60 - 75k 110k+ 80 - 100k 70 - 80k 75 - 90k 60 - 75k 45 - 55k 28 - 40k
650 - 900+ 450 - 550 500 - 650 400 - 550 375 - 425 525 - 550 425 - 550 375 - 450 350 - 500 350 - 375 275 - 325 180 - 250
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ
105 - 110k+ 95 - 105k 85 - 95k 75 - 85k 65 - 80k 55 - 62k
550 - 800+ 525 - 575 450 - 525 425 - 475 375 - 425 325 - 375
10 yrs+ PQE
110k+
525 - 550
5 - 10 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ
80 - 100k 75 - 90k 60 - 75k 45 - 55k 28 - 40k 90k+ 80 - 90k 55 - 80k 45 - 55k
425 - 550 350 - 500 350 - 375 275 - 325 180 - 250 500 - 600+ 400 - 550 325 - 400 275 - 325
Finance – Investment Management ROLE
EXPERIENCE
PERMANENT
CONTRACT
NQ = Newly Qualified PQ = Part Qualified PQE = Post Qualified Experience
SALARY PER ANNUM (£)
RATE PER DAY (£)
10 yrs+ PQE
90k+
525 - 550+
5 - 10yrs PQE
75 - 90k
400 - 550
10 yrs+ PQE
75 - 90k
425 - 500
5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
60 - 75k 45 - 55k 35 - 42k 28 - 32k
300 - 425 275 - 325 200 - 275 160 - 240
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ
140k+ 110k 110k 85 - 100k 75 - 85k 70 - 80k 65 - 75k 45 - 63k
650 - 800+ 500 - 600 600+ 450 - 550 400 - 475 400 - 475 375 - 425 325 - 375
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ
95 - 110k 85 - 95k 85 - 95k 75 - 85k 65 - 75k 85 - 100k 75 - 85k 65 - 75k 65 - 80k 55 - 65k 40 - 55k 30 - 40k
550 - 600+ 475 - 550 450- 550+ 375 - 475 350 - 400 450 - 600 375 - 475 350- 425 375 - 450 325 - 375 250 - 325 180 - 250
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
120 - 180k+ 105 - 120k 110 - 160k+ 80 - 90k 70 - 80k 70 - 85k 52 - 70k 48 - 55k 38 - 45k
600 - 900+ 500 - 650 500 - 700+ 450 - 500 350 - 450 400 - 475 325 - 400 300 - 350 250 - 275
Head of Management Information Management Information Analyst
Internal Audit Head of Internal Audit Internal Audit Manager
Internal Auditor
Fund Accounting Head of Fund Accounting Fund Accounting Manager
Fund Controller
Fund Accountant
Tax Head of Tax Tax Manager
Tax Accountant
FINANCE & OPERATIONS
Management Information
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Finance – Investment Management ROLE
Treasury Head of Treasury Treasury Accountant
EXPERIENCE
PERMANENT
CONTRACT
NQ = Newly Qualified PQ = Part Qualified PQE = Post Qualified Experience
SALARY PER ANNUM (£)
RATE PER DAY (£)
10 yrs+ PQE 5 - 10 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
90 - 110k 80 - 95k 65 - 90k 50 - 65k 35 - 48k 28 - 32k
500 - 600+ 450 - 500 375 - 450 300 - 375 200 - 300 180 - 220
Finance – Banking ROLE
EXPERIENCE
PERMANENT
CONTRACT
NQ = Newly Qualified PQ = Part Qualified PQE = Post Qualified Experience
SALARY PER ANNUM (£)
RATE PER DAY (£)
Financial Controller
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE
120 - 150k+ 90 - 120k 110 - 140k+ 75 - 90k 60 - 75k
650 - 900+ 450 - 550 500 - 650 400 - 550 375 - 425
Financial Reporting Manager
10 yrs+ PQE
110k+
525 - 550
5 - 10 yrs PQE 2 - 5 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
75 - 100k 65 - 80k 75 - 90k 60 - 75k 48 - 55k 28 - 40k
400 - 550 375 - 450 400 - 500 350 - 375 275 - 325 180 - 250
105 - 115k+ 95 - 105k 85 - 95k 75 - 85k 65 - 80k 55 - 62k
550 - 800+ 525 - 575 450 - 525 425 - 475 375 - 425 325 - 375
10 yrs+ PQE
140k+
650 - 800+
5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ
110k 110k - 120k 85 - 100k 75 - 85k 70 - 80k 65 - 75k 55 - 63k
500 - 600 600+ 475 - 550 400 - 475 400 - 475 375 - 425 325 - 375
Financial Control CFO / FD
Financial Accountant
Regulation Head of Regulatory Reporting 10 yrs+ PQE 5 - 10 yrs PQE Regulatory Accountant 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ Internal Audit Head of Internal Audit / Director Internal Audit Manager
Internal Auditor 38
Finance – Banking ROLE
EXPERIENCE
PERMANENT
CONTRACT
NQ = Newly Qualified PQ = Part Qualified PQE = Post Qualified Experience
SALARY PER ANNUM (£)
RATE PER DAY (£)
10 yrs+ PQE
110k+
525 - 550
5 - 10 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ
75 - 90k 75 - 90k 60 - 75k 48 - 55k 28 - 40k 90k+ 80 - 90k 55 - 80k 48 - 55k
425 - 550 350- 500 350 - 375 275 - 325 180 - 250 500 - 600+ 400 - 550 325 - 400 275 - 325
10 yrs+ PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE
115 - 130k+ 120k 90 - 110k 70 - 90k
500 - 650 525 - 550+ 400 - 550 400 - 500
2 - 5 yrs PQE
70 - 80k
300 - 400
NQ
55 - 70k
275 - 325
10 yrs+ PQE
90k+
525 - 550
5 - 10yrs PQE
75 - 90k
400 - 550
10 yrs+ PQE
75 - 90k
425 - 500+
5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
60 - 75k 45 - 55k 35 - 42k 28 - 32k
300 - 425 275 - 325 200 - 275 160 - 240
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
120 - 180k+ 105 - 120k 110 - 160k+ 80 - 90k 70 - 80k 70 - 85k 52 - 70k 48 - 55k 38 - 45k
600 - 900+ 500 - 650 500 - 700+ 450 - 500 350- 450 400 - 475 325 - 400 300 - 350 250 - 275
Head of Management Reporting Managament Accountant
Finance Business Partner
Product Control Head of Product Control Product Control Manager
Product Control Accountant Management Information Head of Management Information Management Information Analyst
Tax Head of Tax Tax Manager
Tax Accountant
FINANCE & OPERATIONS
Management Reporting
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Finance – Insurance ROLE
Financial Control CFO / Financial Director Financial Controller
Financial Reporting Manager
Financial Accountant
Management Reporting Head of Management Reporting Managament Accountant
Finance Business Partner
EXPERIENCE
PERMANENT
CONTRACT
NQ = Newly Qualified PQ = Part Qualified PQE = Post Qualified Experience
SALARY PER ANNUM (£)
RATE PER DAY (£)
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
120 - 150k+ 90 - 120k 110 - 140k+ 75 - 90k 60 - 75k 110k+ 80 - 100k 70 - 80k 75 - 90k 60 - 75k 45 - 55k 28 - 40k
650 - 900+ 450 - 550 500 - 650 400 - 550 375 - 425 525 - 550 350 - 550 375 - 450 350 - 500 350 - 375 275 - 325 180 - 250
10 yrs+ PQE
110k+
525 - 550
5 - 10 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ
80 - 100k 75 - 90k 60 - 75k 45 - 55k 28 - 40k 90k+ 80 - 90k 55 - 80k 45 - 55k
425 - 550 350 - 500 350 - 375 275 - 325 180 - 250 500 - 600+ 400 - 550 325 - 400 275 - 325
10 yrs+ PQE
90k+
525 - 550+
5 - 10yrs PQE
75 - 90k
400 - 550
10 yrs+ PQE
75 - 90k
425 - 500
5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
60 - 75k 45 - 55k 35 - 42k 28 - 32k
300 - 425 275 - 325 200 - 275 160 - 240
Management Information Head of Management Information Management Information Analyst
40
ROLE
Internal Audit Head of Internal Audit Internal Audit Manager
Internal Auditor
Regulation Head of Regulatory Reporting Regulatory Accountant
Syndicate Accounting Syndicate Accounting Manager
Syndicate Accountant
Tax Head of Tax Tax Manager
Tax Accountant
Compliance Compliance Director Head of Compliance Compliance Manager Compliance Officer
EXPERIENCE
PERMANENT
CONTRACT
NQ = Newly Qualified PQ = Part Qualified PQE = Post Qualified Experience
SALARY PER ANNUM (£)
RATE PER DAY (£)
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ
140k+ 110k 110k 85 - 100k 75 - 85k 70 - 80k 65 - 75k 45 - 63k
650 - 800+ 500 - 600 600+ 450 - 550 400 - 475 400 - 475 375 - 425 325 - 375
10 yrs+ PQE
105 - 110k+
550 - 800+
5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ
95 - 105k 85 - 95k 75 - 85k 65 - 80k 55 - 62k
525 - 575 450 - 525 400 - 475 375 - 425 325 - 375
10 yrs+ PQE
90k+
550 - 600+
5 - 10 yrs PQE 2 - 5 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
80 - 90k 70 - 80k 70 - 85k 60 - 70k 50 - 60k 30 - 50k
450- 500 350 - 475 400 - 475 350 - 400 300 - 350 180 - 300
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE NQ PQ
120 - 180k+ 105 - 120k 110 - 160k+ 80 - 90k 70 - 80k 70 - 85K 52 - 70k 48 - 55k 38 - 45k
600 - 900+ 500 - 650 500 - 700+ 400 - 500 350 - 450 400 - 475 325 - 400 300 - 350 250 - 275
10 yrs+ PQE 5 - 10 yrs PQE 10 yrs+ PQE 5 - 10 yrs PQE 5 - 10 yrs PQE 2 - 5 yrs PQE 2 - 5 yrs PQE NQ PQ
150k+ 120 - 140k 100 - 120k 90 - 100k 75 - 90k 70 - 80k 60 - 75k 48 - 60k 35 - 48k
800 - 1000+ 600 - 750 600 - 750+ 550 - 650 425 - 550 400 - 450 350 - 425 325 - 400 250 - 375
FINANCE & OPERATIONS
Finance – Insurance
Ambition – Market Trends & Salaries Report 2015 United Kingdom
ABOUT AMBITION Ambition is a leading global boutique recruitment business operating in a select number of specialist areas across London, Australia, Singapore, Hong Kong, Japan and Malaysia. We access hard to find, high calibre professionals within Financial Services, Finance & Accounting, Business Development & Marketing and Business Support.
Ambition Turns Fifteen 2014 was a very important year for Ambition as it marked our 15th anniversary. We would like to take this opportunity to thank everyone who has worked with us for your support over the years. Founded and listed on the Australian Stock Exchange in 1999, Ambition has grown to become one of the few global recruitment businesses with genuine local expertise. Although we didn’t want to reinvent the wheel, we felt that there was a tremendous opportunity to carve a niche of our own in the recruitment market and build a special organisation. The UK office was acquired in 2008 and has over 30 years’ experience in the London market. Our consultants are experts in their field and we provide clients with a flexible model to assist with Permanent, Contract and Temporary contingency recruitment at all levels. We believe our size is a significant differentiator in the recruitment industry. We are big enough to undertake large scale projects for our clients yet retain the soul and personality of a smaller company. We passionately believe that everyone in the company can make a difference and work relentlessly to reinforce our purpose, strive in our mission and live by our values.
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Our Values: Our values express the professional behaviours that we believe in as an organisation. They are the standards by which we benchmark our decisions and actions. They underlie everything we do as a business and form the bedrock of our beliefs.
P.R.I.D.E. Passion: We are passionate about who we are, what we do and the way we do it. Resourcefulness: We think creatively, working smarter, faster and harder. Integrity: We are honest, respectful and straightforward. Drive: Ambitious by nature, we are determined to excel and are energetic in the way we apply ourselves. Enjoyment: Critical to our success, we strive to enhance the experience for clients, candidates and employees.
Specialist Teams We cover all levels of recruitment, from people starting out in their careers through to Executive/Director level, specialising in the following areas: Financial Services
Professional Services
••Finance & Accounting
• •Finance & Accounting
••Back Office & Middle Office Operations
••Legal Finance
••Change Management
••B usiness Development & Marketing
• •Risk & Compliance
••Business Support
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Community and Events Ambition host a series of client and candidate events globally each year. These range from Women with Ambition and Market Knowledge breakfasts to intimate dinners with CFOs and CIOs from multi-national businesses. All of our events aim to educate, be thought provoking and entertaining as well as provide a great platform for networking. Visit the Ambition Events page to view our upcoming events: www.ambition.co.uk/events We are passionate about building better futures for our community and have subsequently partnered with Career Ready, a non-profit organisation which works with around 140 schools and colleges across the UK. They provide a structured programme of paid internships, mentoring, motivational lectures and workshops to give 16-19 year olds the work experience and skills they need to perform more effectively in the wider world. Visit their website: careerready.org.uk
Global Reach Ambition currently has offices in eight locations throughout the UK, Asia and Australia.
44
Your Career with Ambition Recruitment isn’t about your background; it’s about your future. If you have the ambition to succeed we can offer you an outstanding international career path, ongoing training and development and exceptional earning potential. We welcome applications from experienced recruiters as well as inexperienced graduates and other professionals who have the drive, work ethic and personality to be successful in the business.
Why work at Ambition? Learn from the best We have some of the best recruiters in the business working for us. Be part of a great company culture Energetic, supportive, hardworking and fun are just some of the words our people have recently used to describe our culture. Take charge of your own career We want you to succeed and we will support you to achieve success. We offer three transparent career paths allowing employees to map out their careers from day one, but with the flexibility to change emphasis depending on individual circumstances. Become a true expert in your industry We are forward thinking to stay relevant in the ever changing recruitment market. You will become a true specialist in your field and in turn will gain the respect and trust of our clients and candidates. Kick-start your international career We provide our employees opportunities to move between our international offices. These aren’t empty promises either. Over the last twelve months, we have successfully relocated staff members between our offices in Australia, Asia and the UK. Enjoy the perks of the job In addition to an excellent salary and commission scheme, Ambition offers great company incentives and activities. As well as frequent social events, we have free fruit in the office and on top of their annual holiday entitlement we also give employees an extra day off on their birthday. Visit www.buildingbetterfutures.com to find out more about life at Ambition and view our current vacancies.
Ambition – Market Trends & Salaries Report 2015 United Kingdom
Contacts & Support Andrea Williams Managing Director, United Kingdom T: 020 7430 5107 E: andrea.williams@ambition.co.uk Nicky Acuna Ocana Director, Professional Services T: 020 7400 6625 E: nicky.acuna@ambition.co.uk James Manders Associate Director, Financial Services T: 020 7430 7280 E: james.manders@ambition.co.uk Martyn Draper Associate Director, Legal, Finance & Accounting T: 020 7430 7242 E: martyn.draper@ambition.co.uk Sally Clare Divisional Manager, Professional Services Finance & Accounting T: 020 7430 7274 E: sally.clare@ambition.co.uk Claudine Williams Divisional Manager, Business Support T: 020 7430 7250 E: claudine.williams@ambition.co.uk Scarlette Bagan Divisional Manager, Business Development & Marketing T: 020 7430 7276 E: scarlette.bagan@ambition.co.uk Sharon Koelewyn Divisional Manager, Financial Services T: 020 7430 7236 E: sharon.koelewyn@ambition.co.uk 46
Can we assist? We would be happy to discuss any of your recruitment needs. Please contact us via the details on page 46 or email info@ambition.co.uk.
Market Insights We invite you to visit our Ambition blog page for further information on market trends, business news and career advice: www.ambition.co.uk/blog
Get Social Ambition are committed to driving innovation and have a strong social media presence allowing us to interact and engage through videos, whitepapers, surveys, webinars, trends and blogs via LinkedIn, Twitter, Facebook, You Tube and Google+. We regularly post jobs on our Ambition LinkedIn page so please follow us to stay updated on the latest vacancies.
Ambition Group UK
AmbitionUKRecruit
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Ambition UK
This document is intended only as a representation of the market according to the research and data acquired from our network and any information presented in this document is made in the opinion of Ambition. Our company accepts no liability for the consequences of any actions taken on the basis of the information provided.
Ambition. It’s Different. It’s Personal.
www.ambition.co.uk
BUILDING BETTER FUTURES. www.buildingbetterfutures.com
London 13 Southampton Place, London WC1A 2AL T: +44 (0) 20 7404 4004
www.ambition.co.uk