What is a competitive banking and financial services salary in 2020?

It comes as no surprise that the financial services market is experiencing a skills shortage that is being compounded by tightening visa controls and talent mobility due to Brexit. Four out of five CFOs working in London-based financial services firms feel the skills shortage poses a direct threat to business growth. The Robert Half Financial Services Salary Guide provides sector-specific insights to inform your talent strategy and help you to attract, secure and retain skilled banking, compliance and operational employees in 2020. Explore the average starting salaries, key skills and roles in demand, and popular benefits offered today. Download a copy of the Robert Half 2020 Salary Guide now.

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Explore the latest hiring trends

Automation and digital transformation are evolving the banking and financial services landscape. FinTechs and challenger banks are reshaping the roles and tasks for increased ROI. Transactional roles are steadily being automated to allow in-house commercial roles to add more strategic value.

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Financial services and banking salary benchmarking using percentiles

Check and compare average banking salaries and salaries for finance and compliance roles to ensure you pay and earn a competitive remuneration package. Everything you need to inform your hiring budgets or negotiate a competitive salary is at your fingertips.

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Our comprehensive guide to 2020

We use independent research and leading market intel combined with our recruitment expertise to accurately depict the banking and financial services landscape for the year ahead. The Robert Half 2020 Salary Guide offers an extensive overview of middle and back-office hiring trends and starting salaries in London.

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Key banking and financial services salary trends

It comes as no surprise that the financial services market is experiencing a skills shortage that is being compounded by tightening visa controls and talent mobility due to Brexit. At the same time regulatory changes, increased compliance controls and market fluctuations mean that for banking and financial services firms, change is becoming a constant. As such, attracting and retaining candidates with the right expertise is high on the boardroom agenda.

Here are some of the latest trends impacting salaries in financial services:

1
With the rise in funds being created, there is an aggressive hiring push within real estate, payments and hedge funds.
2
Risk and governance teams have seen an influx in new roles being added to their teams alongside the usual seasonal, temporary hiring needs.
3
Firms are reviewing their cultural and offering more casual working environments to improve their ability to attract the next generation of financial services talent.

Newly qualified accounting and finance professionals are currently being offered higher salaries than in previous years, especially if they can demonstrate long-term potential.

Henry Morse, Associate Director, Robert Half UK

Top financial services recruiting obstacles

  • Too many interview stages
  • Not hiring for cultural fit
  • Lack of employer branding
  • Outdated technology
  • Lack of diversity

Banking and Finance Salaries

Discover salaries and expert insight into the current job market for individual positions. Click on the roles below:

Why use the Financial Services Salary Guide

Our recruitment consultants speak with hundreds of financial services executives and professionals every day. This gives us unique insight into what candidates are looking for in a job offer, and which skills employers need to pay a premium to secure. The salary ranges in the Robert Half 2020 Financial Services Salary Guide are based on the significant number of placements made by our recruitment consultants in London.

Managers use our salary guides to ensure they are offering competitive salary packages to attract and retain back and middle-office financial services talent; whether that be to benchmark salaries for new hires or compare the average pay for their existing staff.

About Robert Half

At Robert Half, we know that making the right match helps companies build happy and productive teams, and professionals find purpose-driven careers. We have made this our business for more than 70 years. We provide a salary guide for every market we operate in to ensure that hiring managers and professionals have the current hiring trends and salary information to make informed decisions at work.

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