Financial Services, Technology 2012 Salary Guide

Cem Baris 09.01.2012

Technology

Permanent

Technology remains an important component within the financial services sector as it continues to drive change, despite current challenging market conditions.

Salaries for top tier IT developers remain attractive as business and technology continue to converge in trading environments.

Many firms are making a play directly for the sharpest minds at a graduate level and the ‘war for talent’ remains fierce at this industry entry point. The result is that highly qualified individuals can expect to enter the market on generous salaries as we see more of a focus on technical talent rather than commercial experience.

A trend towards hiring in business intelligence has continued as company leaders strive to better collate, analyse, understand and present the data affecting the strategic outlook and, in many cases, survival of their businesses.

In the final quarter of 2011 budgetary allowances were made for continued hiring into risk management, compliance and governance technologies. Across regulated environments the pace of change and need for implementation has not slowed.

 

BASIC SALARIES (PER ANNUM)

Role: Junior Mid level Senior
C++ Developer £38k - £42k £65k - £75k £105k - £115k
C# Developer £28k - £32k £45k - £55k £75k - £85k
Java Developer £28k - £32k £55k - £65k £95k - £105k
Web Developer £23k - £27k £40k - £45k £50k - £55k
.net Developer £28k - £32k £55k - £65k £75k - £85k
Applications Developer £28k - £32k £55k - £65k £75k - £85k
Tester £24k - £30k £55k - £65k £65k - £75k
Technical Analyst £33k - £37k £55k - £65k £75k - £85k
Database Administrator £23k - £27k £45k - £55k £65k - £70k
Business Analyst £38k - £42k £65k - £70k £85k -£95k
Project Manager £48k - £52k £65k - £75k £95k - £105k
Manager * 75k - £85k £95k - £105k
Director * £115k - £125k £145k - £155k
Network Engineer £28k - £32k £40k - £50k £65k - £75k
Support £23k - £27k £35k - £45k £55k - £65k
Technical Architect * £75k - £85k £105k - £115k
SQL £33k - £37k £55k - £65k £75k - £85k
Systems Analyst * £40k - £50k £60k - £70k

*Typically, these roles do not exist at this level

 

Temporary

As technology continues to move up the value chain in financial services it is no longer viewed as a peripheral or commodity but as a key component to the success of global businesses. The need for cutting edge technology and technologists is now more important than ever.

Despite this, technology recruitment has not been immune to blanket 10-15% rate reductions as banks seek cost savings in the current climate.

There are, however, pockets of the market that have awarded significant daily rate increases. Areas that have increased in importance include systems focusing on information security, credit / market risk and automated trading platforms that are revenue generating.

Java developers in FX and commodities specialists are in particularly high demand and there have been seismic shifts in day rates for Java developers with ION Marketview experience.

The overall volume of temporary and contract vacancies in technology dropped in the latter part of 2011, however there is scope for a buoyant market again early in 2012 as leaders seek highly skilled contractors to get project deadlines back on track.

 

 

RATES (PER DAY)

Role: Junior Mid level Senior
C++ Developer £300 - £350 £450 - £550 £600 - £700
C# Developer £275 - £350 £525 - £600 £625 - £700
Java Developer £300 - £350 £525 - £575 £600 - £700
Web Developer £200 - £250 £300 - £350 £400 - £500
.net Developer £250 - £325 £350 - £400 £550 - £600
Applications Developer £250 - £300 £350 - £400 £450 - £550
Test Analyst £200 - £300 £350 - £450 £500 - £550
Technical Analyst £250 - £325 £400 - £475 £600 - £650
Database Administrator £275 - £325 £375 - £450 £550 - £600
Business Analyst £300 - £400 £450 - £525 £600 - £700
Project Manager £300 - £400 £475 - £600 £650 - £800
IT Manager * £600 - £700 £800 - £1000
Director * £700 - £800 £900 - £1200
Network Engineer £200 - £300 £350 - £450 £475 - £550
Support £250 - £300 £400 - £450 £500 - £550
Technical Architect £400 - £500 £600 - £700 £800 - £1000
SQL £280 - £320 £400 - £500 £550 - £600
Systems Analyst £200 - £280 £375 - £450 £475 - £600

*Typically, these roles do not exist at this level

 

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