Another week, another salary survey. The latest tome, from recruiters Robert Walters, contradicts last week's revelations from Morgan McKinley, which said risk salaries were rising. Very sadly, it would appear that risk salaries are, in fact, falling.
On the other hand, compliance salaries may be rising, but even this is in doubt.
Robert Walters' survey suggests London salaries in market risk, credit risk, and quant risk, have all fallen by anything from 6-13% in the past year, with quant risk salaries falling the most.
By comparison, RW says salaries for compliance assistants, senior and junior compliance managers, and heads of compliance, rose 5-20% over the same period, with junior compliance managers seeing some of the biggest rises.
Sadly, there is no mention of bonuses.
Why have salaries risen and fallen in this fashion?
With regards to risk, Robert Walters says, 'Candidates seeking roles outweighed the volume of opportunities available.' When it comes to compliance, it says, 'Experienced candidates with good business acumen and the ability to apply relevant regulatory knowledge were in high demand."
However, one rival recruiter thinks that compliance salaries haven't risen at all. Marnie Woolf of Woolf & Co. says pay is falling as redundant compliance people are prepared to work for less and that it would be "very wrong" to suggest pay is rising.
Market risk, 5 yrs + experience: 80k
Market risk, 3-5 yrs experience: 55-75k
Market risk, 1-3 yrs experience: 40-60k
Credit risk, 5 yrs + experience: 70k
Credit risk, 3-5 yrs experience: 55-70k
Credit risk, 1-3 yrs experience: 45-60k
Quant risk, 5 yrs + experience: 85k
Quant risk, 3-5 yrs experience: 65-85k
Quant risk, 1-3 yrs experience: 40-65k
Head of compliance: 110-240k
Senior compliance manager: 60-100k
Junior compliance manager: 50-90k
Compliance assistant: 26-58k
Source: Robert Walters