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- This year has seen many banks adopt a ‘wait and see’ approach and held off announcing their permanent hiring schedules until year end results were announced and a clearer outlook emerged for the rest of the year.
- Moving into Q2, there are signs that permanent recruitment is starting to pick up in the areas of learning & development and performance management.
- There continues to be a shortage of high calibre mid to senior level generalist HR professionals with front office or investment banking experience. The effect of this shortage is that the major banks are working hard to retain their best staff as well as competing with other banks to attract the most talented individuals. This led to salary inflation during 2007 but this year, salaries are not expected to see the same rises but remain stable on 2007 levels.
- The latest bonus round saw HR professionals receiving between 10 – 20% of their basic salary on average with some exceptions made for key talent at the senior level within the investment banks.
- On the temporary and interim side, hiring has been active throughout the first quarter of the year with demand for graduate recruiters, business partners and HR and learning & development administrators.
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