In January, Astbury Marsden issued a salary survey suggesting the average ‘operations and middle office’ professional working in an investment bank in London this year, was expecting to earn £90k.
The latest salary survey from Robert Walters suggests this isn’t out of the question. Even better, while banks restrict recruitment to replacements only for much of the front office, there’s reputedly still enthusiasm for adding headcount in the middle and back office.
According to Robert Walters, these are the roles paying salaries of £80k+ (which should pay six figures once bonuses are added) in London, where hiring is both still happening and candidates are hard to find.
1. Business analysts and project managers at AVP and VP levels
Business analysts and project managers with 3’ years experience can earn up to £75k in salary, plus a bonus. Managers can earn £80-100k, plus a bonus.
2. Regulatory reporting professionals, 5 years’ experience plus
Newly qualified regulatory reporting professionals can earn salaries of £55k, plus a bonus. After three years, this rises to £70k plus a bonus. After five years, they can expect around £80k, plus a bonus.
3. OTC derivatives, managers
Senior OTC derivatives operations professionals are in demand as banks respond to pressure to move to a centralized clearing model. Managers in this area can earn salaries of up to £85k, says Robert Walters, plus a bonus.
4. Risk, various levels
Risk in general is set to remain an important area of recruitment in 2012 according to Robert Walters. As a rule of thumb, risk professionals in investment banks start earning salaries of £80k+ after seven years. In quantitative risk analysis and market risk management, it should be possible to earn a salary of £80k after five years.
Robert Walters says there’s still likely to be strong demand for risk professionals who are “technical and have strong stakeholder management and reengineering skills.”
However, there are also signs that the risk-recruitment market in London is suffering from an excess of candidates: salaries fell in many areas last year. This was especially so in credit-related risk roles, where they were generally down 10-17% on 2010.