SALARY SURVEY 2013 - Robert Walters Singapore

MIDLANDSMIDLANDSBANKING&FINANCIALSERVICESMIDLANDSBANKING&FINANCIALSERVICESOurbankingandfinancialservicesdivisionrepresentspermanent,temporaryandcontractprofessionalsandcoversabroadspectrumofrolesacrossfinance,sales,risk,originationandoperations.Ourclientsincludegroupsandsubsidiariesofinvestmentbanks,corporateandcommercialbanks,insurancecompanies,retailbanks,wealthfirmsandnicheoperatorsintheMidlandsregionalfinancialservicessector.MarketOverviewDuringthefirsthalfoftheyear,themajorityofhiringcontinuedtobereplacementratherthangrowth-focusedaswidereconomicuncertaintyledtoageneralnervousnessacrossthemarket.Overallheadcountlevelsthereforeremainedsteady.Inthesecondhalfoftheyear,themarkettightenedandteamswereoftenhavingtomakedowiththeirexistingnumberswithonlynicheandbusiness-criticalrolesbeinghired.Asaresult,risk,complianceandcorporategovernancespecialistswereinhighdemandasbankslookedtobolstertheseareasduetopreviousfailuresintheircontrolfunctions.Toillustratethispoint,severalbanksreleasedresultsthathadbeensignificantlyimpactedbyfinesfrommis-sellingPTAinsurancepolicies.Theintroductionofnewregulationsalsocreatedfurtherdemandforcomplianceprofessionals.Thelargerbankscontinuedtorecruitseniorlevelinterimprofessionalstodeliverchangeprogrammesastheyunderwenttransitionalperiods.Withinoperations,recruitmentwasrelativelyrestrained.Vacanciesthatwereavailableoftenextremelynicheinnatureandrequiredskillsetsthatarerare(i.e.specialisttaxreportingpositions).Recruitmentprocessesslowedasbusinesseswererequiredtojustifyanyadditionalheadcount.Thisledtoincreasedcautioninthemarketandfewerprofessionalswereactivelyseekingnewjobopportunitiesasmostvaluedthestabilityoftheirexistingroles.IndividualswhowereopentoconsideringnewopportunitiesweremainlydrivenbycareerprogressionandwesawmanyrelocatefromLondontotheregion.Astheysoughttosavecosts,anumberoffirmsbeganmovingentirebusinessfunctionsfromLondontotheregion.Wesawthistrendstarttocreatenewopportunitiesandweexpectmoresustaineddemandforbankingprofessionalsasthesecontinue.Outlookfor2013Withtherestofthemarketcontinuingtobeimpactedbywidermarketconditions,employerswillcontinuetofocusprimarilyonbusiness-criticalrecruitment.Asaresult,risk,complianceandcorporategovernancewillalsoremainkeyhiringareas.BANKING&FINANCIALSERVICESROLEPERMANENTSALARYPERANNUM£UKCONTRACTRATEPERHOUR(PAYE)£UK2012 2013 2012 2013CorporateBankingDirector £60-100k £60-100kCorporateRelationshipDirector £45-80k £45-80kCommercialBankingDirector £45-80k £45-80kCommercialRelationshipManager £25-45k £25-45kCredit&RiskManager £35-55k £35-55k £22-35 £22-35Credit&RiskAnalyst £25-40k £25-40k £16-26 £16-26LocalBusinessManager £22-28k £22-28kCommercial/CorporateAssistant £18-25k £18-25k £12-16 £12-16RetailBranchManager £21-35k £21-35kRetailAreaDirector £40-55k £40-55kOperationsDirector £75k+ £80k+OperationsManager £50-80k £50-80k £32-52 £32-52TeamManager £32-55k £26-40kSubjectMatterExpert-Investments/Trading £28-45k £25-45k £18-29 £15-29OperationsRiskManager £40-65k £35-65k £26-32 £26-32CustomerServices £15-19k £15-19k £9-11 £9-11ProcessingExecutive £15-18.5k £15-20k £10-12 £10-1457NB:Figuresarebasicsalariesexclusiveofbenefits/bonusesunlessotherwisespecified.RobertWaltersGlobalSalarySurvey2013