2017 Accounting & Finance - Investment Management Salary Survey Guide

2017 Accounting & Finance - Investment Management Salary Survey Guide

Marcus Williams 24.02.2017

2017 Salary guide for the Investment Management division of Accountancy and Finance, covering London, South West England and the Home Counties.

Contents:

 

Investment Management | Permanent London

Basic Salary (£ Per Annum)

Role Part-Qualified Newly-Qualified 2-4 Years 5-9 Years 10+ Years
Chief Financial Officer * * * 100,000-120,000 120,000-150,000
Finance Director * * * 90,000-110,000 110,000-130,000
Financial Controller * * 65,000-80,000 80,000-100,000 80,000-110,000
Finance Business Partner * 50,000-60,000 65,000-80,000 80,000-100,000 80,000-100,000
Finance Manager * 50,000-60,000 65,000-80,000 60,000-80,000 60,000-80,000
Financial Accountant 35,000-45,000 50,000-60,000 65,000-80,000 60,000-80,000 60,000-80,000
Management Accountant 35,000-45,000 50,000-60,000 65,000-80,000 60,000-80,000 60,000-80,000
Fund Accountant 35,000-45,000 50,000-60,000 65,000-80,000 60,000-80,000 60,000-80,000
Regulatory Accountant 35,000-45,000 50,000-60,000 65,000-80,000 60,000-80,000 60,000-80,000

*Typically, these roles do not exist at this level

 

Investment Management | Temporary London

Rate (£ Per Day)

Role Part-Qualified Newly-Qualified 2-4 Years 5-9 Years 10+ Years
Chief Financial Officer * * * * 1,000-1,200
Finance Director * * * 500-600 600-1,000
Financial Controller * * 400-450 450-500 500-550
Finance Business Partner * * 400-450 450-500 500-550
Finance Manager * 250-300 350-400 400-450 450-500
Financial Accountant 150-250 250-300 350-400 400-425 425-450
Management Accountant 150-250 250-300 350-400 400-425 425-450
Fund Accountant 150-250 250-300 350-400 400-425 425-450
Regulatory Accountant 200-300 300-350 350-450 450-550 450-550

*Typically, these roles do not exist at this level

Front Office | Permanent London

Basic Salary (£ Per Annum)

Role 2-4 Years 5-9 Years 10+ Years
CIO * * 150,000-250,000
Head of ESG * * 100,000-150,000
Investment Director * 75,000-95,000 95,000-130,000
Fund Manager * 70,000-90,000 90,000-150,000
Investment Manager 55,000-65,000 65,000-95,000 95,000-130,000
Investment Analyst 55,000-65,000 65,000-95,001 95,000-130,000
Equity Research Analyst 45,000-60,000 55,000-80,000 80,000-120,000
ESG Investment Manager/ Analyst 35,000-55,000 55,000-75,000 75,000-100,000

*Typically, these roles do not exist at this level

Commentary on Accounting & Finance - Investment Management Roles and Remuneration in UK for 2017

Overview

Finance recruitment within investment management continues to grow as CFOs continue to strengthen various areas with the view of implementing tighter controls, meaning that hiring in 2016 was buoyant across both permanent and fixed term positions. 

Positive & Negative News

In 2016 we saw an increased demand at the senior level for finance & accountancy positions within the investment management space. We consistently worked with clients to fill roles at the FD, CFO and European CFO level, particularly during the second half of 2016. We also saw increased demand for newly qualified ACA accountants, with most of our clients looking for the individuals to have worked for a Big 4 firm.

We saw a 24% increase compared to 2015 in FP&A positions as businesses continue to invest this area, seeking clarity on the long term projections and possible threats in asset management.

Last year also saw a continued focus on the investments into pan European property funds from both real estate specialist and multi asset investment managers. This in turn has meant an increase in the availability of property fund controller and fund accountant positions, focusing on candidates who have strong background working in real estate and relevant funds exposure. 

Real estate, particularly in some European countries, is seen as a safe asset to invest in. This is particularly true considering the volatile market which we saw at the start of last year, following the crash of the Chinese markets. The FCA and regulators seems to have moved their attention to brokerage houses after focusing on the banks and AMs over the last few years, which in turn has resulted in lower demand for regulatory candidates. 

The regulatory state of the asset management world seems to have calmed somewhat compared to the last 3 years, with a lot of firms now sufficiently staffed with the specialists to cope with the various regulatory demands they are now under. As a result, there was a steep decrease in the amount of interim regulatory positions across the board.

Many P.E houses and boutique asset managers are specially looking for accountants from smaller practices with hands on accounts preparation experience as opposed to a typical big 4 candidate you would expect from a permanent hire.

Outside of Work

To achieve a positive change in salary, finance professionals should strictly evaluate their current skillset to identify areas in which their experience may be lacking. The majority of the senior roles that we recruit request an ‘all round finance professional’ who has experience in all parts of finance.

From an organisational point of view, asset management firms are increasingly realising that a work / life balance is becoming a more dominant factor when candidates are choosing to accept or decline a potential job offer. A popular incentive used to attract (and retain) staff is flexible working conditions. This can include working from home on certain week days or being able to arrive/leave the office flexibly.

Notable Trends

In the past 12 months we have seen various fund managers implement new submission requirements to promote and achieve a higher ratio of female employees within their finance teams. For example, many FTSE 250 firms have stipulated that every finance submission shortlist must contain female candidates. Despite the submission requirements not applying to interim hires, we have generally seen an increase in female finance professionals in investment management. 

Generally the majority of contract roles will be filled with UK based candidates, however those who have qualified in the Big 4 or Top Ten from practices in Australia, New Zealand and Canada have started to take a greater share of newly qualified contract roles in comparison to an ACCA qualified individual who has on hands on UK experience.

Marcus Williams's picture
Manager | Accounting and Finance
mwilliams@morganmckinley.co.uk