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- Despite uncertain conditions within the financial markets, the job flow across the asset and wealth management sector remains relatively solid. There are new companies penetrating the market and existing firms that continue to be committed to expansion. Inevitably with concern about the current climate, candidates are still willing to move for the right opportunity but have become more cautious in their decision making when changing roles. Therefore, existing candidate shortages continue, particularly for RFP, performance and product specialists who are able to command a higher premium than 12 months ago for both temporary and permanent positions.
- The push by asset managers to raise their profiles and expand into new markets including Europe, Middle East and Far East has increased their client base and in turn has led to higher volumes of new products plus greater demand for more sophisticated products. This has resulted in a steady flow of jobs within product development, sales and marketing, client services and operations.
- As the war for talent continues within the temporary and permanent hiring markets, high calibre candidates are being sourced from across the globe including mainland Europe, Far East, Australia, South Africa, North America and India in order to ease candidate flow.
- Salaries in Q1 2008 are in line with the second half of 2007, with the focus turning to retaining top performers. On the permanent side, individuals generally expect an 8 – 10% increase in their compensation package when moving roles. On the temporary side, individuals are looking at an 8 – 15% rise in their hourly rate.
- Bonuses in the 2007/2008 bonus round were paid in cash up to VP level. Payouts over 100% tended to be split between cash and stocks.
- Candidates working on long term projects and strategies are being offered additional loyalty bonuses weighted more highly towards the end of their initiative to ensure that they are retained until project completion.
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