Leading provider of interim, contractor and permanent change resources Campion Willcocks has published the findings of its inaugural Market Trends & Salaries Report, which reveals that demand for talented change professionals remains high in the UK financial services sector.
This in-depth report – the first of its kind and compiled using Campion Willcocks data covering more than 2,000 interim, contract and permanent change roles at 35 financial services organisations – provides detailed insight into hiring trends in terms of organisations, demand, roles, geography and salaries. Key findings:
- The overwhelming majority of requirements (90 per cent) from established banks/financial institutions are for interim and contractor resources
- Almost half (46 per cent) of requirements from challenger banks, technology companies and start-ups are for permanent resources
- The most sought after professionals representing over two thirds (74 per cent) of requirements are for business analysts, senior project managers, senior business analysts, project managers and programme managers.
- Almost two-thirds of interim and contract change management roles fell within the £550-£900 day range; fewer than one-third (30 per cent) of current roles reported a day rate of £450 and below.
“This was an opportunity to use our network, contacts and experience to ‘take the temperature’ of demand and trends in the sector,” says Richard Clifford, Managing Director, Campion Willcocks. “We wanted to share our data to help provide a benchmark and new insights.” Other findings included;
- Retail Banking shows the highest demand followed by Commercial Banking and Investment Banking
- Increased demand from challenger banks, fintech firms and start-ups
- Specialist know-how remains highly valued, particularly Risk/Regulatory and Conduct Risk, followed by Digital, and transformation programmes focused on Cost Reduction and the Customer Experience
- Southern England received more than half of requirements; more than one-fifth were in the north; Scotland was the third most popular at nearly one-sixth
- The highest number of requirements was in London; with Edinburgh, Halifax, Manchester, Bristol and Leeds also top locations
Richard Clifford says, “Overall, demand for interim and contract change professionals in established banks and financial services companies remains very high compared to permanent resourcing. Organisations are looking for high quality flexible resources across the full range of roles, with some areas in particular demand. While we do place candidates across a wide spectrum of salaries, it was interesting to note that the majority of interim and contract roles are within the £550 to £900 range.”
He adds, “This is the first in what’s planned to be an annual survey. Given recent developments in the UK, it will be fascinating to see how the market continues to develop in terms of focus, demand and salaries. The 2016-17 report will clearly make for some interesting comparisons with this year’s survey.”