There has been a significant increase in demand over the past year within the permanent HR job market, making salaries more competitive. Areas that have seen the biggest growth in compensation are learning and development, talent and OD, especially at the senior end where there has been investment in experienced specialists to drive development and change. Individuals with a global remit have been particularly in demand and, therefore, able to command salaries at the top end. In addition, the job market has been relatively busy over the past few months for experienced in-house recruitment professionals, which has positively affected salaries and is a sure sign the market is improving.
Day rates within the HR Project contract market have remained strong in 2014, with many Financial Services organisations continuing their global “Cultural Change and Employee Engagement” programmes. This is in addition to the usual “Change the Bank” programmes in these large global organisations. As a result, a lot of the top talent has been drawn out of the market, meaning firms have started to compete in terms of day rate to attract the best contractors. The business-as-usual contract market remains buoyant, with steady flows of advisor, business partner and director level roles – a good indication that there is renewed confidence in the employment landscape across Financial Services.
There has not been a significant change to the overall salary bandings over the last couple of years, but a trend towards hiring at the top end of the band is noticeable. As usual there is a higher than average requirement for maternity contractors within Financial Services, which in part drives the interim market in HR, but doesn’t necessarily add significantly to salary expectations.
Recruiter volumes are strong and rising, which is a further positive sign. In terms of compensation in this space, day rate contractors working in-house directly for banks have seen a modest increase. Those working onsite via a Recruitment Process Outsourcing (RPO) or Managed Serviced Provider (MSP) have seen day rates stagnate.
RATE PER DAY
|HR Administator||£22k - £30k||£100 - £180|
|HR Officer||£30k - £40k||£150 - £200|
|HR Advisor||£40k - £50k||£200 - £300|
|HR Business Partner / HR Manager||£60k - £90k||£350 - £550|
|Senior Business Partner / Senior HR Manager||£80k - £120k||£550 - £750|
|Head of HR / HR Director||£120k - £180k||£800 - £1200|
|Learning & Development Coordinator||£23k - £30k||£100 - £150|
|Learning & Development Advisor||£35k - £50k||£180 - £280|
|Learning & Development Manager||£50k - £70k||£300 - £450|
|Head of Learning & Development||£90k - £140k||£400 - £550|
|Compensation & Benefits / Reward Administrator||£25k - £35k||£110 - £170|
|Compensation & Benefits / Reward Analyst||£40k - £55k||£250 - £350|
|Compensation & Benefits / Reward Manager||£50k - £80k||£375 - £650|
|Head of Compensation & Benefits / Reward||£90k - £140k||£550 - £900|
|Employee Relations Specialist / Manager||£60k - £90k||£300 - £550|
|Recruitment Coordinator||£25k - £35k||£120 - £180|
|Experienced Hire / Graduate Recruiter||£35k - £60k||£250 - £400|
|Recruitment Manager||£50k - £80k||£350 - £500|
|Head of Recruitment||£80k - £140k||£550 - £750|
|HR Project Support||£33k - £45k||£120 - £180|
|HR Project Analyst||£40k - £55k||£180 - £300|
|HR Project Manager||£50k - £90k||£350 - £550|
|Organisational Design Specialist||£90k - £130k||£400 - £600|