Accountancy & Finance - Retail Financial Services - PSD Group

Industry Comment
Salary Information
Trend Analysis
Contact Details
Commerce and Industry
Financial Services
Welcome to the 2010 edition of the salary survey
PSD
This year we have strived to add extra value to the survey by asking
candidates for their thoughts on topical issues relating to salaries and the
current economic climate. We have based this information on over 500
responses to our questions and the database of PSD. We have also
related the salary figures specifically to the individual markets that we
cover so that they can be as useful as possible.
At PSD, our team of dedicated consultants each have an industry sector
focus. This ensures each consultant becomes a specialist in their industry
and know their clients and candidates in depth. PSD recruits from the
newly qualified level through to Group FD/ CFO across the UK and across
a network of International offices covering Germany, Hong Kong and
Mainland China and has been trading for over 25 years.
Each consultant is fully trained and experienced within both advertised
and executive search and all our finance recruitment team have between
3 and 15 years recruitment experience enabling them to offer a smooth,
consultative and successful hiring process dependent on individual
requirements.
Currently a team of 40 within the finance staffing division, we recruit
across the whole finance spectrum from Management Accountant to
Finance Director, Audit and Treasury. We work very closely with our
colleagues who recruit into our other disciplines within the same
industries including HR, Procurement, IT, Customer Contact, Property &
Facilities Management, Pensions & Insurance, Risk & Compliance and
Sales & Marketing.
This broad coverage of professional disciplines does allow us to offer
clients a service that means we can really develop strong relationships
across a business and become a valued recruitment partner.
I hope you enjoy reading the survey and any questions or if you need
further specific advice please do call me on 0207 970 9621.
Best Regards
Kofi Kyei
Salary Survey 2010

Commerce & Industry, Financial Services
Industry Comment
There have been a number of major changes in the banking system over the past couple of
years, although we are pleased to report that hiring is now back on the agenda of numerous
finance & audit directors moving into 2010. PSD noticed the
number of opportunities increased in Q4 last year, with a
marked improvement moving into Q1. Whilst clients are more
positive and interested in adding headcount over the course
of the year, hiring has not increased to pre-Lehman collapse
levels and decision processes are taking longer than before. In
addition, clients are very demanding around the blend of skills
required to fill positions.
Many clients have undergone or continue to undergo major restructures of their businesses
and finance teams. Finance recruitment has been slower to respond to the general
improvement in the market conditions. We believe this is because finance directors are keen
to reign in excessive costs and need to demonstrate strong cost control within their
department to the business. Many finance directors have commented that workloads have
increased, with business heads requiring more management information and there has been
a strong focus to ensure financial controls are tight.
Despite the large numbers of candidates that were in the sector, there is not a large pool of
quality candidates readily available. We are finding increasingly that headhunting and search
work is required to locate the best candidates and are completing more of this activity to
meet client demands. Within the interim / contract market, the pool of available candidates
has swelled due to the number of candidates that are immediately available, although quality
of candidates again remains an issue.
We expect hiring levels to slowly increase throughout the year, although the demands of
quality will remain high. Whilst the shortage of quality candidates has remained consistent,
this has not translated back into higher salaries or quicker processes to secure the best
candidates. Again, we expect this to continue throughout 2010.

Commerce & Industry, Financial Services
Industry Salary Information Comment
London & South SME’s Large companies
Permanent Roles Basic 2009 Basic 2009
£000 £000
Group FD / CFO N/A 120+
Finance Director 70-90 80-120
Financial Controller 50-70 60-90
Finance Manager 40-55 45-65
FP&A Manager 50-70 60-85
Project Accountant 50-60 50-70
Commercial Finance Manager 50-60 55-75
Management Accountant (1-2 years pqe) 40-50 45-55
Financial Accountant (1-2 years pqe) 45-50 45-55
Internal Audit Manager 40-50 45-55
Newly Qualified Accountant 30-40 40-45
Midlands & North SME’s Large companies
Permanent Roles Basic 2009 Basic 2009
£000 £000
Group FD / CFO N/A 90+
Finance Director 50-70 60-80
Financial Controller 40-60 50-70
Finance Manager 35-45 35-50
FP&A Manager 40-60 50-70
Project Accountant 40-55 45-60
Commercial Finance Manager 40-50 40-60
Management Accountant (1-2 years pqe) 30-45 35-45
Financial Accountant (1-2 years pqe) 30-45 35-45
Internal Audit Manager 35-45 40-50
Newly Qualified Accountant 30-40 35-45

Commerce & Industry, Financial Services
Salary Information
London & South SME’s Large companies
Interim Role Daily Rates 2009 Daily Rates 2009
Daily Rate (exclusive of PSD’s fee)
Group FD / CFO N/A 800+
Finance Director 400-600 450-800
Financial Controller 350-450 400-500
Finance Manager 250-350 300-400
FP&A Manager 350-450 400-500
Project Accountant 350-400 350-450
Commercial Finance Manager 350-400 375-500
Management Accountant (1-2 years pqe) 250-325 300-375
Financial Accountant (1-2 years pqe) 275-325 300-375
Internal Audit Manager 250-325 300-375
Newly Qualified Accountant 225-275 250-300
Midlands & North SME’s Large companies
Interim Role Daily Rates 2009 Daily Rates 2009
Daily Rate (exclusive of PSD’s fee)
Group FD / CFO N/A 800+
Finance Director 400-600 450-800
Financial Controller 350-450 400-500
Finance Manager 250-350 300-400
FP&A Manager 350-450 400-500
Project Accountant 350-400 350-450
Commercial Finance Manager 350-400 375-500
Management Accountant (1-2 years pqe) 250-325 300-375
Financial Accountant (1-2 years pqe) 275-325 300-375
Internal Audit Manager 250-325 300-375
Newly Qualified Accountant 225-275 250-300
PSD

Commerce & Industry, Financial Services
Trend Analysis
This year part of our survey was to get people's thoughts on a
series of employment and salary related issues. This data has been
constructed from candidates across different industry sectors.
Q: What % of your base salary was your most recent bonus?
It makes interesting reading that
from our survey over 35% of
people received no bonus for
2009 which is indicative of the
market conditions and
companies trying to keep costs
12%
4% 2%
35%
low. Most people we met and
19%
spoke to last year expected
bonuses to be non existent or
lower for 2009 compared to
previous years. For many
0% 0-10
23%
10-20 20-30 30-40 40+
candidates it was hard to remember bonuses being at this level. As the market continues to
grow, we believe bonuses will become more important in 2010 to keep good talent and
reward people for their hard work and loyalty.
Q: What is the main motivation for looking for alternative employment?
Again due to market conditions
the results from the survey
showed that redundancy or
people taking voluntary
redundancy packages was joint
first alongside career
development as the main
motivation for looking for
alternative employment at 28%.
Management team /
Direct manager
Other
Salary & Package
Redundancy /
Voluntary Redundancy
Career progression
Last year we noticed that the
pool of actively looking candidates was largely made up of people who were redundant or
were worried about their job security. This is now being reversed as we move into 2010 and
suggest that we are now seeing candidates coming onto the market more for career
opportunities and compensation than due to redundancy or voluntary redundancy. Salary
and package was in 3rd place with over 21% and we expect this figure to rise by next
years survey.
8%
15%
21%
28%
28%
0% 5% 10% 15% 20% 25% 30%

Commerce & Industry, Financial Services
Trend Analysis
Q: When looking for a new opportunity, what are your most important search
considerations?
6 (less important)
5
4
3
2
1 (most important)
6 (less important)
5
4
3
2
1 (most important)
6 (less important)
5
4
3
2
1 (most important)
Career Progression
0% 10% 20% 30% 40% 50% 60%
Company Brand
0% 5% 10% 15% 20% 25% 30% 35% 40%
Inspirational manager / management team
0% 5% 10% 15% 20% 25%
6 (less important)
5
4
3
2
1 (most important)
6 (less important)
5
4
3
2
1 (most important)
6 (less important)
5
4
3
2
1 (most important)
Salary & Package
0% 5% 10% 15% 20% 25% 30% 35%
Location
0% 5% 10% 15% 20% 25% 30%
Company stability
0% 5% 10% 15% 20% 25% 30% 35%
Over 50% of people surveyed stated that opportunities for career progression was the most
important when looking for a new role. Interestingly, the need for an inspirational management
team was very close in importance to salary. Company stability has reduced from last year as a
priority, perhaps reflecting an increase in confidence in the market.

Commerce & Industry, Financial Services
Trend Analysis
Q: When looking for a new opportunity, what are the most important
components to a future employers package?
5 (less important)
4
3
2
1 (most important)
Pension scheme
0% 10% 20% 30% 40% 50%
5 (less important)
1 (most important)
Salary & bonus level
As part of the package the
5 (less important)
5 (less important)
basic salary and bonus
4
4
element was the most
3
3
important factor for 87%
2
2
of people. This was followed
1 (most important)
1 (most important)
by the pension scheme with
0% 5% 10% 15% 20% 25% 30% 35%
0% 5% 10% 15% 20% 25% 30% 35%
44% saying that this is a very
important part of the overall package. Some of our clients still have open final salary
pension schemes and they consider this to a be a valuable selling tool when trying to
attract candidates over other employers.
The number of holidays offered was the least important factor our survey found with 32% of
respondees stating this followed by a flexible working policy with 28%.
Q: How confident are you that the economy will grow throughout 2010?
There is a lot of uncertainty amongst our
respondees with 48% stating that they were
not very confident that the economy will
grow with 42% fairly confident. Only 10% of
people said they were very confident.
There is a lot of new information coming
through the press and government and
although some figures do look encouraging it
is often people's subjective views that play a
large part in decision making and how that
may impact on business decisions.
4
3
2
0% 20% 40% 60% 80% 100%
Number of holidays
Not very
Fairly
Very
10%
5 (less important)
4
3
2
1 (most important)
Flexible working policy
0% 5% 10% 15% 20% 25% 30% 35% 40%
Long term incentive plan
42%
48%
0% 10% 20% 30% 40% 50%

Commerce & Industry, Financial Services
Contact Details
PERMANENT ROLES
Kofi Kyei Steve Maley
Senior Consultant Managing Consultant
PSD Group PSD Group
28 Essex Street 28 Essex Street
London WC2R 3AT London WC2R 3AT
Tel: 0207 970 9621 Tel: 0207 970 9718
Email: kofi.kyei@psdgroup.com Email: steve.maley@psdgroup.com
INTERIM ROLES
David Howard-Jones
Consultant
PSD Group
28 Essex Street
London WC2R 3AT
Tel: 0207 970 2650
Email: david.howardjones@psdgroup.com
www.psdgroup.com