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Risk salaries falling, compliance salaries rising

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.

Salaries, 2009:

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

Comments (3)

  1. M’Lordy seemingly pretty accurate Salary Review. I am normally one to knock the old CV Pushers but they seem closer to the mark than usual ( tho admittedly you could drive a traditional London Bendy Bus through the spreads that they have made !)
    No doubt we will see numerous people writing that they get paid triple, but having had possibly too many employers over too short a time recently 3 in 3 !!! ( 2 voluntary 1 left kicking and screaming)..and it being my area i feel competent to comment on these figs

  2. It’s bizarre as according to the Robert Walters own salary survey, it suggests that in 2008 (the Q3 update) Market Risk Managers with 5+ years experience, could earn 75k+. But now, according to the above (for 2009) its gone UP to 80k? Similarly, credit risk and quant risk specialist salaries have remained the same comparing 2008 to 2009 and not gone down after all. If thats the case I should be quids in…. !

    Mr Risk Manager Reply
  3. compliance can be replaced by mind control technology if they do want cut the cost …lol..Anyway several rumors point the financial software firm Misys has started it since last year to “inspir” the followmen.

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