The past 12 months has been an interesting period for banking and financial services professionals working in internal audit. Job volumes and hiring activity were, as predicted, buoyant as the demand for experienced individuals continued to increase. This impacted base salaries, most noticeably at the VP level in investment banking, where the most sought after individuals were able to negotiate
slightly higher base salaries compared to 2010. Boutique banks and financial services organisations appealed to some of the industry’s best talent more than ever before as people sought ways to broaden their exposure.
The coming months look set to be equally as buoyant, however challenges will remain as institutions continue to be committed to their search for only the best talent. This is particularly true at the AVP level where professionals who can ‘hit the ground running’ are highly sought after.
BASIC SALARIES (PER ANNUM)
|Role||Analyst / 0-2 years||AVP / 2-5 years||VP / 5-7 years||Director / 7-10 years|
|Investment Banking||£50k - £60k||£60k - £75k||£75k - £100k||£110k+|
|Retail / Commercial Banking||£45k - £55k||£55k - £70k||£70k - £95k||£100k+|
|SME Banking||£40k - £50k||£50k - £60k||£60k - £75k||£90k+|