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2016

SALARY GUIDE
CONTENTS
2 Using the Salary Guide

3 Overview
ACCOUNTING AND FINANCE

7 Accounting and finance hiring

10 Accounting and finance salaries (national averages)

13 Customising salaries for local markets


FINANCIAL SERVICES

14 Financial services hiring


16 Accounting and finance salaries
20 Risk and compliance salaries
23 Banking operations salaries
26 Customising salaries for other centres
TECHNOLOGY

27 Technology hiring

30 Technology salaries (national averages)

32 Customising salaries for local markets


ADMINISTRATIVE AND OFFICE SUPPORT

33 Administrative and office support hiring

37 Administrative and office support salaries (national averages)

38 Customising salaries for local markets

39 Additional remuneration trends

40 Hiring for the right cultural fit

42 Why todays businesses cant do without a flexible recruitment strategy

43 About Robert Half

roberthalf.co.uk Robert Half | 2016 Salary Guide B


FROM THE MANAGING DIRECTOR
Now that the business agenda has moved on from
economic recovery to growth and productivity, hiring and
retaining an optimum team is at the top of every managers
to-do list. Getting the right team in place is crucial to
profitable, high-performing businesses.

But now that business confidence is back on track,


organisations need to compete ever more fiercely for those
top professionals everyone from business analysts to IT
project managers, management accountants, or executive
assistants. Demand for highly skilled candidates far
outweighs supply and the situation is only going to get more
challenging as we move into 2016 and beyond.

All the indicators of a tightening recruitment market are


already in place. Skilled candidates are receiving multiple
offers and counteroffers as organisations seek to secure top
performers. Companies are becoming much more concerned
about losing their best employees to the competition.

Its all good news for the economy, but what can employers do to avoid losing their
top people and to attract the best candidates to work for them? The Robert Half 2016
Salary Guide is a great place to start. It provides the latest insights into the salaries and
wider remuneration packages on offer to candidates in accounting and finance, financial
services, technology and administration from one trusted source. This year, we have also
included insights into how to recruit for the right cultural fit, and why todays businesses
cannot do without a flexible recruitment strategy see pages 40 and 42.

Visit our salary centre at roberthalf.co.uk/salary-centre for more remuneration


and recruitment insights.

Regards,

Phil Sheridan
Managing Director United Kingdom

roberthalf.co.uk Robert Half | 2016 Salary Guide 1


USING THE SALARY GUIDE
Robert Half Salary Guides have been a highly regarded resource for employers for decades. They provide
unique insights into hiring trends and emerging issues affecting accounting and finance, financial services,
technology and administrative professionals.

Each year, employers use our Salary Guide to set remuneration levels for new hires, plan budgets and
better understand the hiring environment.

Competitive compensation is a companys best line of defence against losing top talent, and the 2016
Salary Guide features salary ranges for more than 275 permanent positions in the UK.

The salary figures in the 2016 edition are based on a number of sources, most notably the thousands of
placements our recruiting professionals make each year. Our experts interact with hiring managers and
candidates daily, which gives us unique real-world insight into the latest salary and benefits trends.

Other sources include:


Market observations from Robert Half consultants working with senior executives, hiring
managers and candidates, giving our consultants unique insights into remuneration trends
Independent research we conduct regularly among human resources directors, chief financial
officers, senior financial services executives and chief technology officers
Information from HM Revenue & Customs and the Office for National Statistics

The projected salaries for each position reflect starting pay only. Bonuses and other forms of
remuneration, such as pension scheme and long-term incentives, are not taken into account. Since
professionals joining a company may enter at a variety of experience levels, we report salaries in ranges.
The ranges represent national averages and can be adjusted for your region by using the local variance
index immediately following each set of salary tables.

We recognise that salary ranges may vary by industry and are influenced by hard-to-find skill sets. Please
speak with one of our consultants to discuss specific factors affecting your sector.

roberthalf.co.uk Robert Half | 2016 Salary Guide 2


OVERVIEW
The hiring climate
The strengthening economic environment in the UK means that recruitment has moved from a buyers to a
sellers market. The resulting skills shortage is having a significant impact on salaries and the availability of
strong candidates as 91% of UK HR directors find it challenging to find skilled professionallevel employees
today. In a bid for companies to retain their skilled talent, there is a noticeable increase in counteroffers
being made to employees who tender their resignation.

While economic recovery and the growth agenda are leading to a tighter recruitment market, the
economic recession has also had an impact on the skills available. Companies refocused their graduate
recruiting efforts and reduced training and development budgets for existing employees, resulting in a
limited number of candidates with skill sets in demand today.

These issues are leading employers to address the skills shortage in creative ways, including a focus on
temporary and interim professionals. In our survey of HR directors, 90% of respondents said that over the
next five years the traditional workplace will evolve to allow temporary and interim professionals to play a
greater role. As well as being driven by the shortage of permanent staff, this trend is being fuelled by the
cost-effectiveness of having a variable expense, according to a third (34%) of HR directors polled.

90% of UK HR directors agree that over the next five years


temporary and interim professionals will play a greater role
alongside permanent employees

88% 93%
Small and medium- Large companies
sized businesses

Source: Robert Half survey of 200 UK HR directors.

roberthalf.co.uk Robert Half | 2016 Salary Guide 3


Key trends affecting hiring
Along with our general expectations for growing economic prosperity, there are some specific considerations
that may impact hiring in the UK over the next 12 months and beyond. For example, the Productivity Plan
launched by Chancellor George Osborne in July 2015 is designed to raise productivity in the UK and
promote a dynamic economy.

Further economic measures that the government has announced include the ambitious TechNorth hub,
designed to unify tech hotspots in the North-East and North-West of England and the Small Business, Enterprise
and Employment Act 2015, which will seek to cut red tape for small businesses in a bid to boost job creation.

As well as directly creating new roles, these measures create a sense of momentum and confidence in the
business community. Companies are confident in the UKs economic growth prospects 90% of UK CFOs
surveyed said they were either somewhat or very confident, while 88% added that they were confident in
their own companys economic prospects.

This confidence is translating into CFOs predicting higher growth in their companies headcount for the
year ahead. One in two (50%) CFOs plan to recruit additional headcount.

Finally, the nexus of greater business confidence, collaborative working enabled by the cloud and the need
to offer flexible working options to talented professionals in a competitive market are driving investment in
fit for purpose reviews of technology and subsequent upgrades.

Factors driving the stronger labour market

35% 33% 32% 22%


Higher confidence Economic Higher confidence Increased
among employers climate among employees job creation

Source: Robert Half survey of 200 UK CFOs. Multiple responses permitted.

roberthalf.co.uk Robert Half | 2016 Salary Guide 4


Retention concerns
Just as we are seeing growth in business confidence, there is a commensurate rise in concerns over losing
key employees. Eighty-seven per cent of UK CFOs are worried about losing top performers from their
finance teams in the year ahead and are taking steps to mitigate that risk, including making counteroffers
when employees resign.

Factors prompting employees to leave

30% 29% 27% 11%


Worklife Career Higher remuneration Location
balance advancement (including salary, bonus and benefits)

Source: Robert Half survey of 200 UK HR directors.

The recovering economy is creating growth and fuelling the development of new enterprises and therefore
a greater need for ever-scarcer talent. According to HR directors, higher pay is a less important factor
than better worklife balance when employees are considering a move, which indicates that professionals
are looking for a comprehensive remuneration package. It may be time for organisations to revisit their
retention strategies in this competitive environment.

90%
of UK CFOs are confident in the countrys
economic growth prospects

roberthalf.co.uk Robert Half | 2016 Salary Guide 5


REGIONAL OUTLOOK

As post-recession confidence has now stabilised, steady growth is on the agenda for businesses across
the regions. The talent shortage continues to have an impact as businesses look to hire skilled
professionals. Industry variances exist, with the below hiring hot spots across the country.

Scotland
Hiring hot spots: Legal,
education, business services, 80 88
property/construction

North
Hiring hot spots:
Technology, business services, 88 90
education, legal, retail

Midlands
Hiring hot spots: Retail,
financial services, 90 90
manufacturing, technology

London
Hiring hot spots: Financial
services, professional services, 95 98
technology, property

South East
Hiring hot spots:
Manufacturing, automotive, 95 98
education, distribution, retail

South West
Hiring hot spots:
Telecommunications, 88 95
business services
% of businesses
optimistic for growth
Wales
% of businesses challenged Hiring hot spots: Property, 88 95
in finding skilled talent business services

roberthalf.co.uk Robert Half | 2016 Salary Guide 6


ACCOUNTING AND FINANCE HIRING

92% of CFOs admit finding skilled professionals


a challenge in the current market

The hiring climate


Accounting and finance skills are in increasingly short supply. Organisations seeking growth are looking
for high-quality, top-quartile candidates who can partner with the business to drive productivity and help
improve technology-enabled process change.

Finance directors (FDs) believe that this stronger jobs market in accounting and finance is being driven by
higher confidence in the market among employers and workers alike, due to the improved economic climate.

The emphasis on growth does not mean that accounting and finance professionals can forget about
the day job of running an accurate and efficient finance department. Nor has the requirement for
professionals who can manage risk and new regulation disappeared from finance directors wish-lists.

Indeed, a crucial requirement for all financial professionals is the need to keep up with changes in the
tax regime and accounting standards. As ever, a raft of new regulation is in the pipeline, including the
proposed introduction of the new EU Accounting Directive, which is set to change reporting requirements
for smaller businesses in particular.

This wide range of requirements from accounting and finance professionals is helping to tighten the
supply of top candidates with the vast majority (92%) of CFOs finding it challenging to find skilled finance
professionals. The primary reason for the shortage is due to a lack of niche, technical experts available in
the market.

roberthalf.co.uk Robert Half | 2016 Salary Guide 7


In terms of functional areas, the skills most difficult to source are business and financial analysis, general
accounting, and financial management and control.

Unsurprisingly, concerns about losing top performers to other job opportunities continue to rise. Eighty-seven
per cent of finance leaders admit they are worried about top staff leaving to take up new positions elsewhere.

Skills and qualifications in demand

ACA/ACCA/CIMA with 510 years Business partnering and


postqualification experience communication skills: the ability
to talk to senior managers in the
Part-qualified ACCA/CIMA with business and manage stakeholders
management accounting skills
Financial modelling
Technology and software skills in
advanced Excel/SAP/Sage

Permanent positions in demand

CFOs and FDs with strategic Qualified/part-qualified


and commercial skill sets management accountants

Financial controllers/business Credit controller/purchase ledger,


partners sales ledger and payroll clerks

Interim/temporary roles in demand

Finance transformation/system Financial planning and analysis


improvement experts professionals

Financial reporting professionals Accounts assistants/credit controllers/


purchase ledger clerks

roberthalf.co.uk Robert Half | 2016 Salary Guide 8


INTERIM SOLUTIONS

Interim roles are an effective way for businesses to fulfil short-term or variable requirements. In a tighter
market, they become even more important as permanent staff are in shorter supply, particularly at the
C-suite and management level. When we asked FDs how reliant they were on contract or temporary staff
compared to last year, 59% said they were more reliant on interim management-level staff and 49% said
they were more reliant at a non-managerial employee-level.

Businesses are relying on interim/temporary professionals for

59% 49%
Management-level roles Employee-level roles

Source: Robert Half survey of 200 UK CFOs.

Remuneration trends
The growth in salaries and other remuneration for accounting and finance roles continues to follow its
upward trajectory. Businesses are prepared to pay more for the right candidates, though some budgetary
constraints are still in place as recovery takes hold. Another noteworthy trend is for strong part-qualified
candidates to be offered market rate salaries or even higher, as companies look to hire candidates who
are looking to advance and grow with the company.

roberthalf.co.uk Robert Half | 2016 Salary Guide 9


ACCOUNTING AND FINANCE SALARIES
(national averages)

Job title Company size 2015 UK 2016 UK % change

COMMERCE AND INDUSTRY


Chief Financial Officer/ SME 85,500 - 105,250 85,750 - 112,500 3.9%
Group Finance Director Large company 94,750 - 146,250 95,000 - 151,250 2.2%
Finance Director SME 62,250 - 102,250 63,250 - 107,500 3.8%
Large company 75,750 - 125,500 76,250 - 130,250 2.6%
Senior Financial Controller SME 61,500 - 74,250 62,000 - 76,500 2.0%
Large company 63,750 - 88,500 64,250 - 91,250 2.1%
Financial Controller SME 47,250 - 63,250 48,500 - 65,250 2.9%
Large company 57,000 - 65,750 57,500 - 69,250 3.3%
Company Accountant SME 31,750 - 52,000 32,500 - 52,750 1.8%
Group Accountant Large company 45,500 - 70,250 46,500 - 71,500 1.9%
Senior Qualified Management/ SME 46,250 - 55,750 46,750 - 57,750 2.5%
Financial Accountant Large company 54,000 - 67,500 54,500 - 70,250 2.7%
Qualified Management/ SME 34,750 - 41,250 35,250 - 42,750 2.6%
Financial Accountant Large company 44,000 - 56,750 44,500 - 59,750 3.5%
Finance Systems Manager SME 56,500 - 64,250 56,750 - 66,750 2.3%
Large company 61,000 - 75,750 61,500 - 77,250 1.5%
Systems Accountant SME 37,500 - 51,250 37,750 - 53,500 2.8%
Large company 48,250 - 58,250 48,500 - 60,250 2.1%
Senior Finance Manager SME 48,250 - 57,500 48,750 - 59,250 2.1%
Large company 52,250 - 62,500 54,250 - 64,750 3.7%
Finance Manager SME 40,250 - 48,500 40,500 - 49,750 1.7%
Large company 43,750 - 53,750 44,250 - 55,000 1.8%
Financial Planning and SME 61,750 - 68,250 62,250 - 70,750 2.3%
Analysis Manager Large company 63,500 - 71,000 63,750 - 74,250 2.6%
Associate Financial Planning SME 54,000 - 61,750 54,750 - 63,500 2.2%
and Analysis Large company 54,750 - 65,500 55,500 - 67,500 2.3%
Financial Analyst SME 37,250 - 44,500 37,500 - 47,500 4.0%
Large company 39,000 - 49,750 39,750 - 52,500 3.9%
Commercial Finance Controller SME 70,000 - 82,250 70,750 - 84,250 1.8%
Large company 74,750 - 86,500 75,750 - 88,250 1.7%
Commercial Finance Manager SME 57,500 - 63,750 57,750 - 66,500 2.5%
Large company 58,000 - 70,750 58,750 - 72,500 1.9%
Financial Business Partner SME 45,250 - 53,750 45,250 - 56,500 2.8%
Large company 47,250 - 55,750 47,000 - 59,750 3.6%
Assistant Business Partner SME 32,250 - 42,250 32,750 - 43,250 2.0%
Large company 36,250 - 44,250 36,750 - 45,500 2.2%
Project Manager SME 70,000 - 85,250 70,500 - 90,250 3.5%
Large company 84,500 - 105,500 85,750 - 110,000 3.0%
Project Accountant SME 40,250 - 49,500 41,250 - 50,750 2.5%
Large company 47,500 - 53,750 48,250 - 55,750 2.7%
Director of Audit and Risk SME 74,000 - 103,750 75,250 - 108,000 3.1%
Large company 104,500 - 140,250 105,250 - 145,500 2.5%
Compliance Manager SME 54,750 - 63,750 55,250 - 65,750 2.1%
Large company 59,250 - 68,500 60,500 - 69,750 2.0%

roberthalf.co.uk Robert Half | 2016 Salary Guide 10


ACCOUNTING AND FINANCE SALARIES
(national averages)

Job title Company size 2015 UK 2016 UK % change

COMMERCE AND INDUSTRY


Compliance Associate SME 30,750 - 39,750 31,250 - 40,500 1.8%
Large company 32,250 - 42,000 32,750 - 42,500 1.3%
Risk Manager SME 58,250 - 68,750 59,250 - 70,250 2.0%
Large company 61,750 - 69,750 62,750 - 72,500 2.9%
Risk Associate SME 43,250 - 53,250 44,000 - 54,500 2.1%
Large company 45,250 - 53,750 46,500 - 55,750 3.3%
Internal Audit Manager SME 43,500 - 66,500 43,750 - 68,250 1.8%
Large company 53,000 - 77,250 53,500 - 79,250 1.9%
Senior Internal Auditor SME 45,250 - 52,750 45,750 - 53,750 1.5%
Large company 47,500 - 58,500 48,750 - 59,250 1.9%
Internal Auditor SME 32,500 - 42,500 32,750 - 44,000 2.3%
Large company 37,750 - 47,750 38,500 - 48,750 2.0%
Senior Treasury Analyst SME 52,500 - 83,750 54,250 - 84,250 1.7%
Large company 63,250 - 94,750 64,750 - 95,250 1.3%
Treasury Analyst SME 34,750 - 55,500 35,250 - 56,750 1.9%
Large company 35,500 - 67,750 36,250 - 68,750 1.7%
International Tax Manager Large company 75,250 - 110,750 75,500 - 113,250 1.5%
Tax Manager SME 52,750 - 75,250 53,500 - 76,500 1.6%
Large company 57,000 - 84,500 57,500 - 85,750 1.2%
Tax Specialist SME 36,500 - 57,000 36,750 - 57,750 1.1%
Large company 41,250 - 62,500 41,750 - 63,250 1.2%
Cost Accountant SME 38,250 - 43,500 38,750 - 44,500 1.8%
Large company 41,250 - 48,500 42,000 - 49,250 1.7%
Credit Manager SME 28,500 - 38,750 28,750 - 40,750 3.3%
Large company 31,500 - 49,750 31,750 - 52,500 3.7%
Credit Supervisor SME 23,500 - 32,500 23,750 - 33,500 2.2%
Large company 29,500 - 33,250 29,500 - 34,750 2.4%
Credit Controller SME 16,750 - 25,750 17,250 - 26,500 2.9%
Large company 19,750 - 28,500 20,000 - 29,750 3.1%
Assistant Accountant SME 17,750 - 27,500 18,250 - 28,250 2.8%
Large company 23,000 - 32,000 23,250 - 33,250 2.7%
Assistant Management/ SME 18,250 - 25,750 18,500 - 26,500 2.3%
Financial Accountant Large company 19,750 - 30,250 20,250 - 31,000 2.5%
Ledger Manager SME 23,250 - 34,750 23,750 - 35,000 1.3%
Large company 32,750 - 41,500 33,750 - 41,750 1.7%
Ledger Supervisor SME 21,500 - 27,250 21,750 - 28,000 2.1%
Large company 25,500 - 35,750 25,750 - 36,500 1.6%
Purchase/Sales Ledger Clerk SME 16,500 - 24,500 16,750 - 25,250 2.4%
Large company 20,750 - 27,000 21,250 - 27,750 2.6%
Payroll Manager/Supervisor SME 24,500 - 33,750 24,750 - 35,250 3.0%
Large company 29,500 - 41,250 29,750 - 42,500 2.1%
Payroll Administrator/Clerk SME 18,000 - 22,250 18,500 - 22,750 2.5%
Large company 20,250 - 25,250 20,750 - 25,750 2.2%

To customise salaries for regional variances, see page 13.

roberthalf.co.uk Robert Half | 2016 Salary Guide 11


ACCOUNTING AND FINANCE SALARIES
(national averages)

Job title Company size 2015 UK 2016 UK % change

PUBLIC PRACTICE
Partner SME 100,000+ 100,000+
Large company 107,750 - 445,000 108,750 - 446,000 0.4%
Director SME 61,250 - 72,250 61,500 - 72,750 0.6%
Large company 78,500 - 180,500 78,750 - 181,250 0.4%
Senior Manager SME 42,250 - 55,750 42,750 - 56,250 1.0%
Large company 59,250 - 97,500 59,750 - 98,250 0.8%
Manager SME 32,500 - 45,750 32,750 - 46,500 1.3%
Large company 43,250 - 65,750 43,750 - 66,250 0.9%
Senior SME 29,750 - 41,750 30,250 - 42,500 1.7%
Large company 36,250 - 51,250 36,750 - 51,750 1.1%
Supervisor SME 26,250 - 36,500 26,500 - 36,750 0.8%
Large company 28,500 - 37,750 28,750 - 38,250 1.1%
Trainee SME 17,500 - 22,500 17,750 - 22,750 1.3%
Large company 18,500 26,250 18,750 26,750 1.7%

To customise salaries for regional variances, see page 13.

roberthalf.co.uk Robert Half | 2016 Salary Guide 12


Customising salaries for local markets
This section is supported by data from HM Revenue & Customs, the Office for National Statistics, our local
offices and ongoing surveys of senior executives. National starting salaries can be localised to your market
using the variance index numbers below.

The index figures serve as a guide to determining average starting salaries. Factors such as company size,
employee benefits, the candidates skills and current market conditions can affect actual starting salaries.
For trends affecting your local area, please speak with your consultant.

Follow the steps below to calculate the approximate salary range for a role in your area.

Example: Project Manager at an SME in Scotland

1. Find the position and national salary range for a Project Manager at an SME on page 10.
The salary range is 70,500 to 90,250.

2. Find your regions index number below. The index number for Scotland is 98.4%.

3. Multiply the low end of the national salary range by the index number as a percentage:
70,500 x 98.4% = 69,372.

4. Repeat using the high end of the salary range: 90,250 x 98.4% = 88,806.

5. The approximate starting salary range for a Project Manager at an SME in Scotland is 69,372 to 88,806.

Regional variances
UK 100%
Scotland 98.4%
North East England 90.0%
North West England 92.9%
Yorkshire 91.9%
East Midlands 91.8%
West Midlands 92.8%
East of England 97.9%
London 129%
South East England 106%
South West England 92.3%
Wales 89.5%

roberthalf.co.uk Robert Half | 2016 Salary Guide 13


FINANCIAL SERVICES HIRING

98% of finance directors are challenged finding


skilled financial services professionals

The hiring climate


As well as focusing on high-quality customer services, new product development and regulatory
compliance, the financial services industry as a whole has had to move on from the difficult years it faced
during the economic recession. Now that the industry is fully back in growth mode, financial services
companies have to compete for the top performers who are needed to build or transform their businesses.

The pace of the hiring environment for financial services professionals has intensified significantly over the
past 12 months. Hiring decisions are being made more quickly than ever before, and 54% of financial
services businesses are increasing their headcount.

There is a particularly positive outlook for small and mediumsized financial services businesses as they
look to recruit for growth. Fifty-seven per cent of leaders in the SME category said that they would add
new positions to their companies.

While financial services businesses continue to place a lot of importance on regulatory compliance,
because the ability to react to regulatory changes is critical, this is beginning to be built into day-to-day
work and seen as business as usual by firms.

The growth agenda is manifesting itself in other ways, including a renewed focus on merger and
acquisitions (M&A) activity both domestically and in emerging markets. This is likely to fuel demand for
M&A experience moving forward.

roberthalf.co.uk Robert Half | 2016 Salary Guide 14


Business analytics are also playing an important role in the growth of financial services companies as organisations
seek to understand customer behaviour in more detail and use insights to inform strategic planning and product
development. Data departments and chief data officers are becoming much more common as businesses get fully
up to speed on how they manage private and confidential information on behalf of customers and comply fully
with the Basel Committee on Banking Supervision (BCBS) 239 data management standard.

New trends in financial services include a broadening of opportunities for professionals as non-financial
companies bring new products and services to market. The traditional financial services industry is also being
tested by the new challenger banks and different business models such as peer-to-peer lending and crowdfunding.

There is general growth of optimism and momentum for firms outside the retail financial services sector,
with investment banking, private equity and asset management focusing on their core businesses and
building teams to support anticipated growth.

Financial services firms are reliant on interim and


temporary resources for

53% 31% 28% 25%

Operations Compliance Accounting Risk


support and finance

Source: Robert Half survey of 100 finance executives. Multiple reponses permitted.

Remuneration trends
The emphasis on growth in financial services has created huge momentum for salaries on offer to
professionals willing to move jobs. Highly skilled, in-demand professionals are regularly being offered a
10%15% premium to switch employer and take up a new position elsewhere.

Base salaries for permanent employees in the financial services sector are predicted to rise by 6.6%. However, it
is rare for employers to make counteroffers to match these much higher salaries being offered by competitors.

roberthalf.co.uk Robert Half | 2016 Salary Guide 15


ACCOUNTING AND FINANCE OVERVIEW

Demand for accounting and finance specialists who can act as


business partners continues unabated in the financial services
industry. There is a clear trend for financial services companies
to seek accounting and finance professionals with more business
acumen and extra commercially focused skills beyond the ability to
process the numbers.

Financial services companies are also looking for accounting


and finance professionals who can be trained to fit the culture of
the business: newly qualified and part-qualified candidates are
in particular demand. There is also a growing trend for financial
services companies to convert temporary staff who prove their ability
to work well within the team into permanent employees.

Career paths for accountants in the financial services industry are


broadening out to include newer types of businesses, providing novel
opportunities to work with alternative finance companies and lenders,
such as peer-to-peer lending companies and online investment
management firms. Some candidates are actively choosing the
option to work in the retail banking sector, which is experiencing
rapid change and innovation, rather than the more traditional and
slow-to-change investment banking sector.

Candidates are choosing non-traditional career paths for

57% New challenge/career development


53% Worklife balance
33% Remuneration

Source: Robert Half survey of 100 finance executives. Multiple reponses permitted.

roberthalf.co.uk Robert Half | 2016 Salary Guide 16


Skills and qualifications in demand

Excel (ability to use look ups, Financial services experience


pivot tables and sum ifs) (brokerage, private equity
and hedge fund)
ACA and CIMA qualifications
Commercial abilities/
Regulatory compliance experience business acumen

Positions in demand

Management accountants Financial accountants


Fund accountants Financial analysts

Financial services companies are seeking accounting and finance


specialists with skills beyond the ability to process the numbers

roberthalf.co.uk Robert Half | 2016 Salary Guide 17


ACCOUNTING AND FINANCE SALARIES
(Financial services - national averages)

Job title 2015 London 2016 London % change

LEADERSHIP
CFO 127,750 - 232,250 135,500 - 235,500 3.1%
Finance Director 105,500 - 162,500 107,500 - 168,500 3.0%
Financial Controller 74,250 - 100,000 76,500 - 104,500 3.9%
Group Accountant 62,250 - 97,500 65,250 - 99,750 3.3%

TECHNICAL ACCOUNTING
Manager 83,500 - 100,000 84,500 - 103,500 2.5%
Accountant (47 years PQE) 68,750 - 95,250 71,750 - 97,750 3.4%
Accountant (NQ 3 years PQE) 52,500 - 75,000 55,500 - 76,000 3.1%

FINANCIAL ACCOUNTING
Manager 71,250 - 88,250 73,500 - 91,500 3.4%
Accountant (47 years PQE) 59,500 - 77,750 63,500 - 78,750 3.6%
Accountant (NQ 3 years PQE) 44,250 - 61,250 45,500 - 63,500 3.3%

REGULATORY ACCOUNTING
Manager 83,250 - 119,750 85,250 - 125,250 3.7%
Accountant (47 years PQE) 65,500 - 88,500 65,500 - 93,500 3.2%
Accountant (NQ 3 years PQE) 54,000 - 75,250 55,250 - 78,500 3.5%

MANAGEMENT ACCOUNTING/FINANCIAL PLANNING & ANALYSIS


Manager 79,750 - 104,000 79,250 - 108,500 2.2%
Accountant (47 years PQE) 62,000 - 80,500 63,250 - 84,250 3.5%
Accountant (NQ 3 years PQE) 47,500 - 69,250 47,750 - 72,250 2.8%

PRODUCT CONTROL
Manager 85,750 - 139,250 86,250 - 143,500 2.1%
Accountant (47 years PQE) 65,250 - 88,500 67,500 - 91,500 3.4%
Accountant (NQ 3 years PQE) 51,500 - 62,750 52,500 - 65,250 3.1%

roberthalf.co.uk Robert Half | 2016 Salary Guide 18


ACCOUNTING AND FINANCE SALARIES
(Financial services - national averages)

Job title 2015 London 2016 London % change

FUND ACCOUNTING
Manager 85,000 - 100,250 87,500 - 102,500 2.6%
Accountant (47 years PQE) 64,000 - 82,250 65,250 - 83,750 1.9%
Accountant (NQ 3 years PQE) 48,500 - 59,750 49,750 - 60,750 2.1%

INTERNAL AUDIT
Manager 77,500 - 101,250 79,250 - 104,750 2.9%
Accountant (47 years PQE) 65,250 - 79,250 65,500 - 83,500 3.1%
Accountant (NQ 3 years PQE) 51,250 - 67,500 52,750 - 69,250 2.7%

ACCOUNTING OPERATIONS
Assistant Regulatory Accountant (PQ to finalist) 40,250 - 46,500 41,250 - 47,000 1.7%
Assistant Regulatory Accountant (up to PQ) 30,750 - 36,750 30,750 - 38,250 2.2%
Assistant Fund Accountant (PQ to finalist) 38,250 - 45,250 38,500 - 46,500 1.8%
Assistant Fund Accountant (up to PQ) 30,750 - 36,000 30,750 - 37,250 1.9%
Assistant Financial Accountant (PQ to finalist) 34,500 - 45,250 35,250 - 46,250 2.2%
Assistant Financial Accountant (up to PQ) 28,500 - 34,750 28,750 - 35,250 1.2%
Assistant Management Accountant (PQ to finalist) 34,250 - 44,500 34,750 - 45,750 2.2%
Assistant Management Accountant (up to PQ) 28,250 - 33,500 28,250 - 35,000 2.4%
Graduate Accounts Assistant 25,250 - 28,500 25,250 - 29,250 1.4%
AP/AR Clerk 23,000 - 33,250 23,500 - 33,750 1.8%

To customise salaries for UK centres outside of London, see page 26.


PQE = Post Qualified Experience.
NQ = Newly Qualified.
PQ = Part Qualified.

roberthalf.co.uk Robert Half | 2016 Salary Guide 19


RISK AND COMPLIANCE OVERVIEW

The introduction of new market regulation and risk management


was an important contributor to the recovery of the financial services
sector. Companies have now established internal frameworks
to handle existing and forthcoming regulations. On the whole,
businesses are in a much better position to achieve compliance while
still generating investment activities in line with risk management.

The Markets in Financial Instruments Directive (MiFID) ll will come into


effect from 3 January 2017 and will fundamentally impact all European
financial market firms. As the relevant UK law comes into play half way
through 2016 businesses should prepare for this change sooner rather
than later.

While the compliance and risk function has been incorporated into
business as usual activities by many large financial institutions,
regulators continue to extend their reach and influence to the
insurance sector and beyond. Demand for experienced risk and
compliance professionals remains above supply and organisations
have to make swift decisions to secure their preferred candidates.
The competitive market and lack of specialist skills continues to drive
up remuneration levels for skilled professionals.

The increased demand for permanent risk and compliance professionals is also having a knock-on effect on the
temporary/interim market, which is in turn becoming much more competitive for employers.

In a further interesting development, there is growing demand for professionals who are proactively trying
to build a career in risk and compliance. Businesses particularly value professionals with a legal or audit
background who are up to speed with Financial Conduct Authority (FCA) and Prudential Regulation Authority
(PRA) rules and regulations.

The risk and compliance field is already seeing more specialisation with additional managerial roles in fraud,
sanctions, financial crime and compliance monitoring that are now heading up individual teams tasked with
managing these areas. This reflects the fact that regulatory compliance and risk management have become
systemic and well organised within businesses rather than separate, generic functions.

4 in10 FDs say compliance and regulatory reporting will


have the greatest impact on business growth

roberthalf.co.uk Robert Half | 2016 Salary Guide 20


Lack of specialist skills driving up salaries for in-demand
compliance professionals

Skills and qualifications in demand

Testing and monitoring CISI diploma


Conduct risk CAMS certification
Regulatory compliance Advisory skills
CRD IV, BASEL lll, Solvency II,
AIFMD, MiFID ll, EMIR

Positions in demand

Heads of compliance Compliance managers


Compliance analysts Sanctions specialists

roberthalf.co.uk Robert Half | 2016 Salary Guide 21


RISK AND COMPLIANCE SALARIES
(Financial services - London averages)

Job title 2015 London 2016 London % change

COMPLIANCE
Head of Compliance 92,250 - 209,000 96,750 - 219,250 4.9%
Compliance Manager 65,500 - 100,000 70,000 - 104,000 5.1%
Compliance Analyst 39,750 - 65,500 42,250 - 69,500 6.2%
Junior Compliance 21,500 - 33,250 22,500 - 36,000 6.8%

AML/SANCTIONS/FINANCIAL CRIME
Head of AML/Sanctions/Financial Crime 95,500 - 195,500 99,500 - 205,500 4.8%
Director of AML/Sanctions/Financial Crime 75,500 - 145,250 77,500 - 155,750 5.7%
AML/Sanctions/Financial Crime Manager 65,250 - 120,000 67,000 - 127,250 4.9%
AML/Sanctions/Financial Crime Analyst 40,000 - 60,500 40,250 - 65,250 5.0%
Onboarding 35,500 - 60,500 36,750 - 64,500 5.5%

CREDIT RISK
Head of Credit Risk Management 95,500 - 200,000 96,500 - 207,750 3.0%
Senior Credit Risk Manager 75,250 - 120,250 77,750 - 125,250 3.8%
Credit Risk Manager 50,000 - 84,750 51,250 - 89,250 4.3%
Junior Credit Risk 30,750 - 45,250 31,500 - 47,250 3.6%

OPERATIONAL RISK
Head of Operational Risk Management 90,250 - 165,250 97,250 - 175,000 6.6%
Senior Operational Risk Manager 70,000 - 102,250 74,750 - 109,250 6.8%
Operational Risk Manager 50,500 - 85,750 53,500 - 90,500 5.7%
Junior Operational Risk 31,000 - 53,500 32,250 - 57,250 5.9%

MARKET RISK
Head of Market Risk Management 110,250 - 182,250 115,250 - 188,250 3.8%
Senior Market Risk Manager 75,750 - 110,000 77,500 - 114,250 3.2%
Market Risk Manager 60,000 - 110,000 63,250 - 113,500 4.0%
Junior Market Risk 36,000 - 55,000 36,750 - 57,500 3.6%

To customise salaries for UK centres outside of London, see page 26.

roberthalf.co.uk Robert Half | 2016 Salary Guide 22


BANKING OPERATIONS OVERVIEW

Business confidence has returned to the banking market, but the pressure on margins needed to achieve stricter
regulatory compliance has led to a certain amount of consolidation as global institutions retrench and reorganise
their wealth and investment management services.

With the industry refocusing and concentrating on core business, the traditional banking operational
roles of fixed income and equity settlement are returning as the market improves. Hiring levels are up and
salaries are rising as a result.

Banking operations professionals with strong client services skills are increasingly in demand as investment firms
look to provide quality interaction and grow market share. Transparency is also high on the agenda, driven by the
huge growth in alternative investment opportunities.

Regulatory compliance remains a priority for investment banks and brokerage firms but this has become
business as usual as firms look to grow revenue.

61% of financial services firms are adding permanent


operations support

Skills in demand

Client service/relationship focused Strong (multi-)product knowledge,


particularly in credit
Strong regulatory knowledge
Background in investment banking
and asset management

Positions in demand

Trade support and Static data specialists


settlement professionals
Client services professionals
Operational control professionals
Fund administrators

roberthalf.co.uk Robert Half | 2016 Salary Guide 23


BANKING OPERATIONS SALARIES
(Financial services - London averages)

Job title 2015 London 2016 London % change

LEADERSHIP
COO 103,750 - 205,500 104,250 - 213,250 2.7%
Director/Head of Operations 71,500 - 134,250 72,250 - 135,750 1.1%
Operations Manager 69,750 - 107,750 71,500 - 109,500 2.0%

TRADE SUPPORT (EQUITY, FIXED INCOME, FX, ETD/OTC, FX OPTIONS)


Manager 72,250 - 93,500 73,500 - 94,250 1.2%
47 years experience 50,000 - 72,750 51,750 - 73,250 1.8%
3 years experience 25,750 - 51,250 26,250 - 52,750 2.6%

TRADE SUPPORT (HEDGE FUND/INVESTMENT MANAGEMENT)


47 years experience 51,750 - 79,750 52,500 - 80,250 1.0%
3 years experience 25,750 - 54,250 26,500 - 55,750 2.8%

SETTLEMENTS (EQUITY, FIXED INCOME, FX, OTC DERIVATIVES)


Manager 42,750 - 64,500 43,500 - 66,500 2.6%
47 years experience 38,250 - 57,750 38,750 - 59,500 2.3%
3 years experience 26,000 - 35,750 26,250 - 37,250 2.8%

FUTURES CLEARING/BROKER RECONCILIATIONS


Manager 61,500 - 96,000 62,500 - 97,250 1.4%
47 years experience 42,250 - 61,500 42,750 - 63,500 2.4%
3 years experience 25,000 - 39,750 25,500 - 40,500 1.9%

CLIENT SERVICES
Manager 61,500 - 93,500 61,750 - 95,250 1.3%
47 years experience 43,250 - 66,750 43,750 - 67,500 1.1%
3 years experience 25,750 - 40,250 26,250 - 40,750 1.5%

COLLATERAL MANAGEMENT
Manager 68,500 - 96,750 69,500 - 97,500 1.1%
47 years experience 42,750 - 62,750 43,500 - 63,750 1.7%
3 years experience 31,000 - 41,500 32,000 - 41,500 1.4%

CASH MANAGEMENT
Manager 45,750 - 61,750 46,500 - 62,750 1.6%
47 years experience 40,500 - 51,500 40,750 - 52,500 1.4%
3 years experience 25,500 - 40,500 25,750 - 41,250 1.5%

roberthalf.co.uk Robert Half | 2016 Salary Guide 24


BANKING OPERATIONS SALARIES
(Financial services - London averages)

Job title 2015 London 2016 London % change

OPERATIONS CONTROL/RECONCILIATIONS
Manager 51,500 - 73,750 52,500 - 74,750 1.6%
47 years experience 37,000 - 53,500 38,250 - 54,250 2.2%
3 years experience 21,750 - 36,500 22,000 - 37,500 2.1%

PAYMENTS
Manager 40,250 - 52,250 40,750 - 53,750 2.2%
47 years experience 29,500 - 41,500 30,000 - 42,750 2.5%
3 years experience 18,750 - 31,000 19,250 - 31,500 2.0%

STATIC DATA
Manager 47,750 - 66,000 48,000 - 67,250 1.3%
47 years experience 38,750 - 48,750 39,250 - 49,750 1.7%
3 years experience 22,000 - 39,000 22,750 - 39,250 1.6%

ASSET SERVICING
Manager 46,250 - 57,750 47,500 - 58,500 1.9%
47 years experience 39,500 - 47,750 40,250 - 48,500 1.7%
3 years experience 26,750 - 39,750 27,000 - 40,500 1.5%

LOANS ADMINISTRATION
Manager 47,000 - 63,500 47,250 - 64,750 1.4%
47 years experience 37,250 - 48,750 37,500 - 49,500 1.2%
3 years experience 22,500 - 38,250 22,750 - 38,750 1.2%

FUND ADMINISTRATION
Manager 54,500 - 65,750 54,750 - 67,500 1.7%
47 years experience 39,750 - 57,250 40,250 - 59,000 2.3%
3 years experience 23,250 - 40,250 23,750 - 40,750 1.6%

ANALYST (VALUATIONS, CLIENT REPORTING, PRICING, PERFORMANCE)


Manager 50,500 - 67,750 52,500 - 68,250 2.1%
47 years experience 41,500 - 54,500 42,500 - 55,500 2.1%
3 years experience 21,750 - 42,000 22,250 - 43,250 2.7%

To customise salaries for UK centres outside of London, see page 26

roberthalf.co.uk Robert Half | 2016 Salary Guide 25


Customising salaries for other centres
The salary ranges listed represent starting salaries within the banking and capital markets sector in London.
They can be customised with the local variances listed below for each of the four financial services centres.
The index figures are a guide to determining average starting salaries.

Factors including company size, bonus, candidate skill sets and current trends may affect actual remuneration.

The information is supported by data from HM Revenue & Customs, the Office for National Statistics, our
local recruitment consultants, research of UK C-suite executives and placements across our London City
office and UK branch network.

The London salary index is 100, and other locations are represented by a percentage of this.

Follow the steps below to calculate the approximate salary range for a specific position in your area.

Example: Operational Risk Manager in Edinburgh

1. Find the position and national salary range for an Operational Risk Manager on page 22.
The salary range is 53,500 to 90,500.

2. Find the index number below. The index number for Edinburgh is 80.2%.

3. Multiply the low end of the national salary range by the index number as a percentage:
53,500 x 80.2% = 42,907.

4. Repeat using the high end of the salary range: 90,500 x 80.2% = 72,581.

5. The approximate starting salary range for an Operational Risk Manager in Edinburgh is 42,907 to 72,581.

Regional variances

London 100%
Edinburgh 80.2%
Manchester 75.9%
Birmingham 75.8%
Bristol 75.4%

roberthalf.co.uk Robert Half | 2016 Salary Guide 26


TECHNOLOGY HIRING

96% of CIOs find it challenging to find skilled


IT professionals

Technology hiring climate


IT is playing a key role in the recovery of the UK economy, and 94% of companies are looking to
technology to play an important role in business growth. More than four in 10 (41%) UK companies said
that they planned to increase the number of IT jobs and that this growth in demand was being fuelled
by the need to expand teams to cope with new IT projects and initiatives (62%), moving to cloudbased
infrastructure (51%) and product or service expansion (40%).

This demand will lead to growth in the UK technology industry, as businesses look to upgrade systems and
to make investments in newer hardware. More than two in five (41%) IT directors believe that IT services
(generally supporting the development, implementation and maintenance of IT systems and platforms for
organisations) will have the greatest impact on the growth of the UK tech industry. Other significant drivers
will include e-commerce (cited by 22% of IT leaders) and data storage (17%).

Given this growth in IT systems used by organisations, and in the industry that delivers them, its perhaps
unsurprising that a shortage of professional IT skills is following quickly in its wake. According to research
published by employer network the Tech Partnership1, almost three-quarters (72%) of large firms and
nearly half (49%) of small firms that employ tech specialists identified skills gaps in their workforce. Of the
businesses identifying skills gaps, the vast majority (96%) said that missing important technical skills is a
problem. IT professionals with mobile, cloud and infrastructure skills are becoming increasingly scarce,
while cyber security experts who can help protect their organisations from attack are also highly valued.

1
www.thetechpartnership.com/news-events/news/employer-insights/

roberthalf.co.uk Robert Half | 2016 Salary Guide 27


Top three areas to have the greatest impact on
the growth of the UK

41% 22% 17%


IT services E-commerce Data storage

Source: Robert Half survey of 100 CIOs.

The skills gap will have an impact on remuneration and retention policies for IT professionals. More than
four in 10 (41%) CIOs say that they expect to increase salaries for IT professionals while a fifth (20%)
expect to pay out extra bonuses.

However, businesses that fail to recognise that they are now in a candidate-driven IT skills market will
be left behind, and 89% are already concerned about losing top IT performers to other roles in the year
ahead. IT people are motivated by other factors as well as remuneration, including technical training and
the ability to work with leading edge technologies and contributing to business success.

Regional hiring climate


Increased funds available for technology start-ups in London will help grow the technology industry in the
UK, which overall has an enviable reputation for innovative digital businesses in areas such as gaming,
productivity apps and mobile payments.

roberthalf.co.uk Robert Half | 2016 Salary Guide 28


Skills and qualifications in demand

Network infrastructure/engineering Strong communication skills


and ability to convey technical
.NET/Java/C#/SQL/J2E development information to non-IT audiences

Business intelligence/reporting services Customer service orientation


Commercial acumen, business
awareness and influencing skills

Positions in demand

User experience experts IT support specialists


Software and application developers Business analysts

Remuneration trends
While IT salaries are generally on an upward trend, there are some specific areas of technology that will
command the highest salary increases over the next five years, particularly in security, project management
and networking. Specialised technology professionals in these areas are commanding higher starting
salaries owing to demand outweighing supply in the UK.

7 in 10 IT candidates are more likely to negotiate


salary than last year

roberthalf.co.uk Robert Half | 2016 Salary Guide 29


TECHNOLOGY SALARIES
(national averages)

Job title 2015 UK 2016 UK % change

LEADERSHIP
Chief Information Officer (CIO) 124,750 - 239,750 126,500 - 243,250 1.4%
Chief Technology Officer (CTO) 82,250 - 156,500 83,500 - 158,750 1.5%
Chief Information Security Officer (CSO) 97,500 - 145,250 98,250 - 149,500 2.1%
Chief Architect 119,250 - 149,750 120,000 - 155,000 2.2%
IT Director 91,500 - 125,750 93,750 - 126,750 1.5%
IT Manager/Head of IT 79,750 - 112,000 80,250 - 115,500 2.1%

ARCHITECTURE & DEVELOPMENT


Enterprise Architect 60,750 - 91,250 62,750 - 93,750 3.0%
Technical Architect 80,500 - 99,500 82,250 - 103,250 3.1%
Infrastructure Architect 56,500 - 73,500 57,500 - 76,750 3.3%
Data Architect 58,250 - 76,500 59,750 - 79,250 3.2%
Solution Architect 57,250 - 78,250 58,250 - 81,500 3.1%
Senior Developer 51,500 - 84,750 53,750 - 88,750 4.6%
Developer 25,750 - 43,250 26,750 - 45,500 4.7%
Junior Developer 18,250 - 28,500 19,000 - 29,500 3.7%
Database/Business Intelligence Developer 40,500 - 67,000 41,500 - 69,250 3.0%

BUSINESS ANALYSIS, PROJECT MANAGEMENT & TESTING


Programme Manager 60,500 - 97,500 62,250 - 99,750 2.5%
Project Manager 38,500 - 65,750 39,250 - 68,250 3.1%
Project Management Office (PMO) Head 74,250 - 95,750 75,750 - 99,750 3.2%
Project Management Office (PMO) Manager 31,000 - 42,500 32,250 - 44,250 4.1%
Project Management Office (PMO) Analyst 17,000 - 37,250 17,500 - 39,250 4.6%
Senior Business Analyst 44,750 - 54,250 45,250 - 58,750 5.1%
Business Analyst 33,750 - 45,500 34,250 - 49,250 5.4%
Test Programme Manager 62,500 - 69,750 65,250 - 72,750 4.3%
QA/Testing Manager 49,250 - 70,250 50,750 - 73,500 4.0%
QA/Testing Analyst 36,750 - 51,500 37,500 - 54,250 4.0%

INFRASTRUCTURE & ENGINEERING


Infrastructure Manager 47,500 - 71,250 48,500 - 75,250 4.2%
Database Administrator 34,250 - 64,250 35,750 - 66,750 4.1%
Data Analyst 32,250 - 43,250 32,500 - 46,250 4.3%
Business Intelligence Analyst 41,250 - 52,250 42,750 - 54,250 3.7%
Network Manager 37,750 - 54,750 38,250 - 58,750 4.9%
Network Engineer 35,250 - 50,250 35,750 - 53,750 4.7%
Telecommunications Manager 50,750 - 70,750 52,250 - 72,500 2.7%
Telecommunications Specialist 44,250 - 66,500 46,750 - 68,250 3.8%
UNIX Manager 46,500 - 65,000 48,750 - 67,250 4.0%
UNIX Administrator 31,250 - 54,250 33,000 - 55,750 3.8%

roberthalf.co.uk Robert Half | 2016 Salary Guide 30


TECHNOLOGY SALARIES
(national averages)

Job title 2015 UK 2016 UK % change

IT SUPPORT & OPERATIONS


Support Manager 37,500 - 50,500 39,500 - 51,250 3.1%
Systems/Virtualization Engineer 37,750 - 49,000 38,750 - 50,750 3.2%
Systems Administrator 21,000 - 36,500 21,250 - 37,750 2.6%
Desktop, First/Second Line Support 20,750 - 27,250 21,250 - 28,500 3.6%
Applications/Production Support Manager 60,500 - 75,750 62,500 - 77,250 2.6%
Senior Applications/Production Support 38,250 - 57,500 39,500 - 58,500 2.3%
Applications/Production Support Analyst 30,250 - 40,250 31,250 - 41,500 3.2%

COMPLIANCE, AUDIT, RISK & SECURITY


Information Security Manager 62,500 - 88,250 63,250 - 97,500 6.6%
Information Security Officer 43,250 - 64,250 45,750 - 68,250 6.0%
Security Network Engineer 32,500 - 48,750 33,500 - 52,500 5.8%
Senior IT Auditor 52,250 - 71,250 54,750 - 75,500 5.5%
IT Auditor 42,250 - 62,500 45,500 - 65,750 6.2%

DIGITAL, E-COMMERCE & MOBILE


Mobile Applications Developer 31,250 - 56,250 32,500 - 61,500 7.4%
Senior Web Developer 48,500 - 62,000 51,750 - 66,750 7.2%
Web Developer 34,500 - 50,750 36,500 - 55,000 7.3%
Web Administrator 23,750 - 40,250 25,750 - 42,750 7.0%
Web Designer 24,250 - 45,500 27,500 - 47,250 7.2%

To customise salaries for regional variances, see page 32.

roberthalf.co.uk Robert Half | 2016 Salary Guide 31


Customising salaries for local markets
This section is supported by data from HM Revenue & Customs, the Office for National Statistics, our local
offices and ongoing surveys of senior executives. National starting salaries can be localised to your market
using the variance index numbers below.

The index figures serve as a guide to determining average starting salaries. Factors such as company size,
employee benefits, the candidates skills and current market conditions can affect actual starting salaries.
For trends affecting your local area, please speak with your consultant.

Follow the steps below to calculate the approximate salary range for a specific position in your area.

Example: Network Engineer in South East England

Find the position and national salary range for a Network Engineer on page 30.
The salary range is 35,750 to 53,750.
Find your regions index number below. The index number for South East England is 106%.
Multiply the low end of the national salary range by the index number as a percentage:
35,750 x 106% = 37,895.
Repeat using the high end of the salary range: 53,750 x 106% = 56,975.
The approximate starting salary range for a Network Engineer in South East England is
37,895 to 56,975.

Regional variances
UK 100%
Scotland 98.4%
North East England 90.0%
North West England 92.9%
Yorkshire 91.9%
East Midlands 91.8%
West Midlands 92.8%
East of England 97.9%
London 129%
South East England 106%
South West England 92.3%
Wales 89.5%

roberthalf.co.uk Robert Half | 2016 Salary Guide 32


ADMINISTRATIVE AND
OFFICE SUPPORT HIRING

91% of HR directors find it challenging to find


skilled professionals

The hiring climate


Businesses are expanding their hiring plans for administrative and office staff. For the first time since
the beginning of the recession, companies are seeking to fill their full complement of frontoffice and
backoffice support positions.

Flexibility and the ability to communicate well with customers, suppliers and colleagues are the most
important skills for HR directors when seeking new administrative and office support candidates. This
is being driven by a growing emphasis on excellent customer service and the adoption of social media
channels by organisations across all vertical sectors as well as the ongoing reliance on technology-based
business processes.

While 39% of HR directors said that they would take on additional support, the productivity agenda means that
they are looking for candidates who can adapt to a changing business, whether that means taking a lead on
social media campaigns, helping out on reception and the switchboard or liaising with third-party suppliers.

Despite that, recruiting for attitude and training for skills appears to be back in vogue as the shortage of
trained professionals begins to bite. Companies are seeking the best candidates for a role and fit with their
corporate culture rather than concentrating solely on qualifications and proven skills.

roberthalf.co.uk Robert Half | 2016 Salary Guide 33


Top three reasons its challenging to find skilled professionals

35% 30% 22%


Lack of niche, General demand Lack of commercial,
technical experts outweighs supply business skills

Source: Robert Half survey of 200 UK HR directors.

Once companies find their topperforming employees, they are keen to retain them but recognise that the
market is buoyant and that demand for the best people is high. The vast majority (80%) of HR directors
said they were worried about losing top performers to other job opportunities in the year ahead.

Regional hiring climate


The UK market is seeing a growing demand for HR and administrative professionals across all industry
sectors as companies look to support growth. The London market is experiencing a strong demand for
senior-level specialised HR professionals, and EAs and PAs with C-suite experience while in contrast,
other regions are seeing a growing demand for multi-skilled professionals with project experience.

roberthalf.co.uk Robert Half | 2016 Salary Guide 34


Skills and qualifications in demand

Excellent verbal and communication skills Effective time management


Experience with the full suite of CIPD qualifications (for HR
Microsoft Office applications administrative and office staff)

Strong customer service focus

Positions in demand

Personal assistants/executive assistants Marketing, communications


and digital assistants
HR administrators/advisors
Paralegals/legal secretaries
Senior administrators

67%
of HR directors are willing to negotiate salary
with top job candidates

roberthalf.co.uk Robert Half | 2016 Salary Guide 35


Remuneration trends
Finding and retaining the best administrative and office staff is becoming more challenging. As a result,
remuneration (including salaries and bonuses) for these professionals is on the rise as companies compete
for the best people.

Almost half (49%) of HR directors say that they will increase salaries for their administrative and office
teams, and of these, two-thirds (65%) predict that they will increase salaries for existing permanent
professionals by up to 5% in the year ahead.

While bonuses used to be offered sparingly to administrative and office staff, the need to retain top
performers means that more rewards are now on offer. Indeed, nearly a quarter of HR directors (24%) said
that they would increase the level of bonuses awarded to professionallevel employees in the year ahead.

Top 5 reasons employees are being offered pay rises

41% Willingness to learn/advance

32% Time period since last pay rise

31% Technical competency

30% Tenure

28% Professionalism

Source: Robert Half survey of 200 UK HR directors. Multiple responses permitted.

roberthalf.co.uk Robert Half | 2016 Salary Guide 36


ADMINISTRATIVE AND OFFICE SUPPORT SALARIES
(national averages)

Job title 2015 UK 2016 UK % change

SENIOR SUPPORT
Senior Executive Assistant 33,000 - 47,250 33,500 - 47,750 1.2%
Executive Assistant 28,500 - 37,750 28,750 - 38,500 1.5%
Personal Assistant 21,000 - 32,750 21,000 - 33,750 1.9%
Office Manager 21,500 - 34,750 21,750 - 35,750 2.2%

OFFICE SUPPORT
Senior Administrative Assistant 20,500 - 28,750 20,750 - 29,750 2.5%
Administrative Assistant 15,500 - 23,250 15,500 - 24,500 3.2%
Receptionist 15,250 - 21,750 15,500 - 22,750 3.4%
Entry-level Administrative Assistant 14,000 - 17,250 14,500 - 17,500 2.4%

SECRETARIAL
Secretary 17,000 - 27,000 17,250 - 27,500 1.7%
Legal Secretary 19,000 - 30,250 19,250 - 30,500 1.0%
Paralegal 18,500 - 28,500 18,750 - 28,750 1.1%
Medical Secretary 18,000 - 23,750 18,500 - 24,250 2.4%
Audio Typist 16,500 - 20,750 16,750 - 21,250 2.0%

HUMAN RESOURCES
HR Senior Advisor 40,250 - 53,250 41,250 - 54,250 2.1%
HR Advisor 22,750 - 34,750 23,250 - 35,500 2.2%
HR Officer/Administrator 14,750 - 24,250 15,250 - 24,500 1.9%

MARKETING & BUSINESS DEVELOPMENT


Marketing Assistant 18,000 - 26,500 18,250 - 27,250 2.2%
Sales Assistant 17,000 - 24,000 17,250 - 24,750 2.4%
Telemarketer/Telesales 16,250 - 21,750 16,750 - 22,000 2.0%
Digital/Online Assistant 22,000 - 29,750 22,750 - 30,250 2.4%

CUSTOMER SERVICES
Customer Services Supervisor 19,500 - 27,250 20,250 - 27,500 2.1%
Customer Services Administrator 16,500 - 21,000 16,750 - 21,500 2.0%
Customer Helpdesk 17,750 - 20,500 18,250 - 21,000 2.6%

To customise salaries for regional variances, see page 38.

roberthalf.co.uk Robert Half | 2016 Salary Guide 37


Customising salaries for local markets
This section is supported by data from HM Revenue & Customs, the Office for National Statistics, our local
offices and ongoing surveys of senior executives. National starting salaries can be localised to your market
using the variance index numbers below.

The index figures serve as a guide to determining average starting salaries. Factors such as company size,
employee benefits, the candidates skills and current market conditions can affect actual starting salaries.
For trends affecting your local area, please speak with one of our consultants.

Follow the steps below to calculate the approximate salary range for a role in your area.

Example: HR Advisor in West Midlands

1. Find the position and national salary range for an HR Advisor on page 37. The salary
range is 23,250 to 35,500.

2. Find your regions index number below. The index number for West Midlands is 92.8%.

3. Multiply the low end of the national salary range by the index number as a percentage:
23,250 x 92.8% = 21,576.

4. Repeat using the high end of the salary range: 35,500 x 92.8% = 32,944.

5. The approximate starting salary range for an HR Advisor in West Midlands is 21,576 to 32,944.

Regional variances
UK 100%
Scotland 98.4%
North East England 90.0%
North West England 92.9%
Yorkshire 91.9%
East Midlands 91.8%
West Midlands 92.8%
East of England 97.9%
London 129%
South East England 106%
South West England 92.3%
Wales 89.5%

roberthalf.co.uk Robert Half | 2016 Salary Guide 38


ADDITIONAL REMUNERATION TRENDS
Employees place growing importance on worklife balance when considering a job offer. While base
salary and bonus are still important, there is a greater desire for working schedules that fit with personal
preferences, for example, whether it be to reduce the work commute or juggling childcare requirements.
According to CFOs, other than additional remuneration, flexible working tops their employees wish-lists
when it comes to their pay and benefits package.

The advancements and accessibility of technology solutions are enabling a greater proportion of
companies of all sizes to offer remote working options. Over the last three years, more than a third (37%)
of UK companies have increased the remote working options available to their employees, a trend likely to
build momentum in the bid to attract suitable candidates.

Employees wish-lists (non-financial)

56% Flexible working


23% 9%
23% More annual leave

56% 9% Remote working

8% 5%
8% Additional training
and development

5% Other perks

Source: Robert Half survey of 200 UK CFOs.

roberthalf.co.uk Robert Half | 2016 Salary Guide 39


HIRING FOR THE RIGHT CULTURAL FIT

Successfully filling any position in your organisation requires


more than just finding someone who can fulfil the role

A job isnt just a job. Successfully filling any position in your organisation requires more than just
finding someone who can fulfil the role. Besides technical skills, the ideal candidate will also have the
interpersonal qualities to fit well within a larger mosaic: your company culture.

But how can you tell if someone is a good job match from just an interview? Well, you cant. At least not
entirely. But you can create opportunities for you and the candidate to compare insights on individual work
styles. Here are some ideas:

Demonstrate what makes you different. Highlight the unique attributes of your culture on your
website and in job postings. Also, make sure your hiring managers can readily articulate why your
business is a great place to work. Help them capture in words the essence of your companys
atmosphere and people.
Introduce the team. When you invite candidates in for interviews, give them an opportunity to talk to
other employees. This can offer them additional perspectives into what its really like to work for your
company. Later, you can ask your team how well they feel the person would do in the job.

roberthalf.co.uk Robert Half | 2016 Salary Guide 40


Ask the right interview questions. Here are some suggestions:
What makes them want to come to work every day?
Does workplace competition motivate or discourage them? Do they enjoy building relationships
with clients, or do they love behind-the-scenes problem-solving? Look for candidates whose passion
matches your culture.
Why do they want to work for you?
Your best prospects will go beyond your products and business stability and touch on aspects of your
culture. Do you get a sense your work environment would stimulate them?
Can they describe their work style?
Some professionals will say theyre most productive when they work independently; others work better
when theyre part of a team. Some prefer brainstorming sessions over well-organised meetings. Do
you think this person can find personal job satisfaction working for your company?
For more sample interview questions for first and second interviews, please visit our website.

The most important aspect of company culture is authenticity. If you mimic the hallmarks of other firms
instead of reflecting who you really are, its going to be tough to hire people who will work in sync with
your team. Make sure the culture demonstrated in your external communications activities is reflected in
your HR and recruitment strategy.

roberthalf.co.uk Robert Half | 2016 Salary Guide 41


WHY TODAYS BUSINESSES NEED
A FLEXIBLE RECRUITMENT STRATEGY
Companies are using interim professionals as part of their recruitment strategy more than ever before.
There are several trends responsible, but ultimately it just makes sense: why hire full-time employees for
tasks that dont require full-time attention?

Rigid staffing structures are expensive and inefficient. They dont allow companies to respond quickly and
strategically. For businesses to ensure they have the right people in the right places at the right time, they
need flexibility.

Your permanent staff will always be the backbone of your workforce. But augmenting this core group
with temporary professionals brought in whenever needed gives you more control over labour costs
and morale. You can rapidly staff up or down in response to customer demand while at the same time
lightening the load for employees who are stretched too thinly.

The breadth of skill levels project professionals possess today lets you spread this flexibility throughout the
organisation from filling simple recruitment gaps to accessing senior-level expertise for initiatives that are
critical but of limited duration.

Other reasons flexible recruitment should be at the heart of your year-round personnel strategy include:

Relief for overburdened employees at risk of burnout or leaving your company altogether
Minimised overtime expenses
Reduced recruiting and hiring costs
Backfill for core employees temporarily dedicated to special initiatives but whose regular jobs
cant go unattended
Greater job stability for permanent workers wholl be largely protected from cycles of hiring and
redundancies as business needs fluctuate

And when you do need to hire a permanent role, youll already have a potential candidate in place.
Because you already know the persons strengths first hand, you can save time, money and productivity
since you dont have to go through a long recruiting process.

More and more talented professionals are working on a project basis because of the chance to gain
experience in different industries and expand their skill sets. Taking full advantage of this trend will give
you the flexibility your company needs to succeed in todays business environment. It just makes sense.

roberthalf.co.uk Robert Half | 2016 Salary Guide 42


ROBERT HALF: MORE THAN
340 OFFICES WORLDWIDE
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Your recruitment expert
Robert Half is the worlds leading specialised recruitment consultancy. Through our Robert Half Finance &
Accounting, Robert Half Management Resources, Robert Half Financial Services, Robert Half Technology,
and OfficeTeam divisions, we place the markets most highly skilled professionals on a temporary,
permanent and senior-level project and interim basis. We also offer global consulting and internal audit
services through our Protiviti subsidiary, which helps companies solve problems in finance, technology,
operations, governance, risk and internal audit.

Key benefits we offer your business include:

Immediate attention. Time is money when youre seeking reinforcements for your team.
Our recruitment consultants, who commonly possess specific industry experience, are
trained to find our clients top professionals who can start right away. But saving you time
doesnt mean a rushed process. Our access to both active and passive candidates ensures
you receive the talent best suited to your needs and culture.

Spreading the net. Our recruitment professionals dont work in silos. By tapping into our
extensive internal networks, they collaborate with colleagues near and far to find the best
available matches. These are all reasons you dont have to look beyond Robert Half for
your recruitment needs.

Turnkey results. Companies, especially those with limited resources, dont want to spend
time on a lot of details when recruiting. We handle all aspects of the hiring process for you
from candidate sourcing and interviews to skills evaluations and reference checks.

Personalised solutions. Anyone can post a job online and get a lot of responses. Its easy
and it doesnt cost much. But it takes a lot more than a computer to find candidates who
are closely suited to your needs. That comes only through working directly with recruitment
professionals. While we, too, take full advantage of the latest technology tools, its the
personal service we provide our clients that were known for.

Contact Robert Half at roberthalf.co.uk or 0808 169 2235 to learn more about how we can help you find
the right talent for your organisation.

roberthalf.co.uk Robert Half | 2016 Salary Guide 43


0808 169 2235
roberthalf.co.uk

2015 Robert Half. An Equal Opportunity Employer. RH-0915-GBR-ENG