Accounting and Finance - Investment Management, Finance & Front Office 2016 Salary Guide

Marcus Williams 25.02.2016

At Morgan McKinley, we endeavor to provide up-to-date market insight and expert knowledge on your sector. Here we offer key recruiter information within the Investment Management sector, covering permanent and temporary salaries across Finance and Front Office disciplines in London.

View our most up-to-date Accounting & Finance Investment Management Salary Guide.

2015 was a year of mergers and acquisitions with rating agencies reporting a record high year of global activity across the buy side markets. Private equity activity was at the forefront of these statistics with $629 billion being raised in 2015, beating the previous record of $557 billion raised in 2008. As a result of this, job volumes increased, particularly within the permanent market. These were new hires as opposed to replacement which attracted professionals to the industry, not just those currently working within investment management but also those in banking and Blue Chip organisations.

The start of the year was dominated by larger institutional investment managers requiring newly qualified ACAs with a strong academic background. Hiring managers were keen to target first time movers outside of an audit practice who possessed transferable skills and a had good fit to the organisation's culture. Positions available for such individuals leaned towards the more financial control focused roles within finance, along with a natural need to recruit Regulatory Accountants due to tighter restrictions passed down from the FCA. The contract market was fairly quiet due to hires being marked down as growth rather than replacements. However requirements did pick up in Q2 specifically in the regulatory space, with clients paying up to £500 per day for professionals with FACTA/AIFMD and COREP experience.

Finance recruitment in the summer of 2015 was higher than previous years. The number of roles filled by Morgan McKinley in this disciple was up 23% compared to 2014. The main area of job volume was within the senior permanent hires - a rise of 18%. Due to increased confidence in the market, more experienced professionals were actively looking for the next step within their career, having had their bonus payouts secured. Recruitment within the front office areas of fund managers saw a significant rise of positions in the equity research space, with a particular demand for candidates with 3-5 years of experience. Salaries varied for these positions between £55k and £70k.

Contract recruitment started to take off with a big influx of fixed-term contracts for Finance Manager/Controller positions. This was due to the number of new system implementation projects being rolled out across our clients as well as the launch of new funds within the real estate markets.

A continuing trend is the need to hire Revenue Accountant positions. Typically hiring managers were looking for experienced individuals with 2-4 years’ post qualified experience, offering salaries of up to £70k. One reason for this is that investment managers have been reshaping their finance teams to accommodate for new business lines to encourage greater efficiently across other areas of the business. There was also a significant focus on performance analysis/reporting with firms looking for confident individuals with solid communication skills to help bridge the gap between finance and the front office.

Contract recruitment proved popular through the last quarter of 2015 within the investment management finance space. As expected towards the end of the year there were various year end / project accounting roles available. Following on from the trend in first half of 2015, there was a large amount of mandates from property investment managers, particularly those with a European focus seeking experienced individuals to hit the ground running. Salaries for such positions ranged from 65-85k.

Towards the end of 2015 there was an increase in job volume within our front office team, particularly amongst roles from small and mid-tier investment managers. We saw growth in the number of roles becoming available in the ESG and sustainable investment sector, with companies looking for candidates from a fund management or CFA background to add financial acumen to growing teams. This trend is likely to continue throughout 2016.

Investment Management, Private Equity Finance | Permanent - London
Basic Salary (£ Per Annum)
Role Part-Qualified Newly-Qualified 2-4 Years 5-9 Years 10+ Years
Chief Financial Officer * * * 100,000-120,000 120,000-175,000
Finance DIrector * * 60,000-80,000 85,000-120,000 120,000-175,000
Finance Business Partner * * 60,000-80,000 85,000-120,000 120,000-175,000
Financial manager * 55,000-65,000 60,000-80,000 85,000-120,000 120,000-175,000
Financial Accountant 35,000-45,000 45,000-60,000 60,000-80,000 85,000-120,000 120,000-175,000
Management Accountant 35,000-45,000 45,000-60,000 60,000-80,000 85,000-120,000 120,000-175,000
Fund Accountant 35,000-45,000 45,000-60,000 60,000-80,000 85,000-120,000 120,000-175,000
Regulatory Accountant 35,000-45,000 45,000-65,000 60,000-80,000 85,000-120,000 120,000-175,000

*Typically, these roles do not exist at this level

Investment Management, Private Equity Finance | Temporary - London
Rate (£ Per Day)
Role Part-Qualified Newly-Qualified 2-4 Years 5-9 Years 10+ Years
Chief Financial Officer * * * * 1,200-2,000
Finance Director * * * 600-900 900-1,500
Financial Controller * * 350-450 500-800 800-1,200
Finance Business Partner * * 350-450 450-750 750-1,000
Finance Manager  * 250-350 350-450 50-750 750-1,000
Financial Accountant 175-250 250-350 350-450 450-750 750-1,000
Management Accountant 175-250 250-350 350-450 450-750 750-1,000
Fund Accountant 175-250 250-350 350-450 450-750 750-1,000
Regulatory Accountant 175-250 250-350 350-450 450-750 750-1,000

*Typically, these roles do not exist at this level

Investment Management, Private Equity Front Office | Permanent - London
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 65,000-95,000 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

Marcus Williams's picture
Associate Director | Finance & Marketing
mwilliams@morganmckinley.co.uk