Our Morgan McKinley Salary Guide examines hiring and remuneration trends for 2018 within legal & compliance.
Compliance Basic Salaries (¥ Million Per Annum)
|Associate / AVP / Manager||VP /
|Core / Central Compliance||6 - 8||8 - 13||12 - 18||17 - 24||22+|
|Trade Surveillance / Monotoring||6 - 8||8 - 13||12 - 18||17 - 24||22+|
|Control Room||7 - 9||9 - 14||13 - 19||18 - 25||25+|
|Advisory||-||11 - 15||14 - 22||23+||25+|
Legal Basic Salaries (¥ Million Per Annum)
|Role:||Legal Associate||Legal Counsel||Senior Counsel||General Counsel|
|In house Legal||5 - 8||9 - 16||16 - 25||20+|
Commentary on Legal and Compliance Roles and Remuneration in Tokyo for 2018
Legal and compliance recruitment within financial services was relatively flat in 2017. Most institutions have looked to strengthen their compliance departments in previous years - either because they were beset with sanctions or because they were seeking to shore up their teams in light of the ever increasing complexity of the regulatory environment. By contrast 2017 saw most institutions pausing to take stock and analyse future requirements. The only exception being the areas of anti-money laundering and financial crime compliance. This is not to say that there hasn't been a lot of movement in the market, but this was more the fallout from restructuring and new headcounts in previous years. Professional compliance officers - those that have built their careers within the compliance areas as opposed to joining from another department - are very high in demand and can expect to receive an increase in their salaries when joining a new organisation. The increase in candidates who are new to compliance and in search of long-term stability has flooded this candidate pool. As such these candidate may need to accept a reduction in salary to secure a role.
Legal remains stable, but most international organisations have been looking to strengthen their teams with Japanese qualified lawyers.