While we lament the shorter days and chillier nights, at least we can take some solace in the fact that the jobs market is showing surprising resilience. In Morgan McKinley’s London Employment Monitor for September, the global recruitment agency said that even the traditionally sleepy month of August “surprised everyone” with its 4% month-on-month rise in both jobs and jobseekers.
As for salary growth, the report conceded that salaries had “remained steady”, while noting that FinTech roles in digital development and design, such as UX designers, UI design and front-end development remained high in demand.
To find out more, we spoke to Hakan Enver, Operations Director at Morgan McKinley:
“There has been an increase in roles in digital development and design, such as UX Designers, UI Design and front-end development remaining high in demand. With a strong digital proposition comes bundles of quality customer data – the race to even greater sophistication of customer insight means Data Engineers, Data Analysts, and Data Scientists are sought after.”
But what about the more “traditional” city roles? What are the salary comparisons like for those? This is where compliance takes the lead, says Hakan.
“A second area in which we’ve seen an increase of hiring in specific areas is within compliance – so front office advisory, compliance monitoring and guideline/investment monitoring.
“Each of these roles requires different skills; the front office advisory team will need to communicate efficiently and provide instant regulatory advice to the business, portfolio managers and senior stakeholders on real-time issues.
“Professionals with extensive experience of conducting thematic reviews are needed for compliance monitoring roles. Coding for Guideline/Investment Monitoring roles is a necessity, and those with this experience are deemed even more desirable, therefore obtaining higher salaries.”
To get a second opinion, we spoke to Luke Nash, a Risk Management specialist at City-based recruiter Merje.
“Operational Risk Managers, especially those who have an understanding of compliance and are able to help in the changes around Senior Managers Regime, which will affect all areas of financial services, are showing good salary growth,” he told us.
Luke also pointed to Liquidity Risk individuals working within the Treasury function, and those who have experience in capital adequacy and capital markets as roles seeing good growth, as well as those working in Conduct Risk.
“Conduct Risk is a new area with many institutions looking to build teams,” he added. “This means that those already holding such experience are in high demand.”
A fourth area highlighted by Luke was Policy and Regulatory Affairs that are driven by new EU regulations such as MiFID II and AIFMD.
“This requires candidates across financial sectors, so anyone with the requisite industry and work experience will command higher salaries,” he explains.
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