Operations | 2014 - 2015 Salary Guide

Hakan Enver 28.10.2014

Asset / Wealth Management, Hedge Funds and Private Banking Salaries

Permanent roles

The start of 2014 saw a lot of movement within the Client Services and Client Reporting space. This was due in large part to an increasing sense of trust in the market. As budgets were set a little higher, we saw an increase in the number of roles released within this space. As we move into H2, we have also seen a slight rise in the number of Performance and Pricing roles. The need for fresh graduates has also increased, particularly within the Fund Operations realm.
 
Salaries for client services and client reporting positions have remained steady. Performance and pricing salaries are a little higher and as the need for graduates rises, salaries are also beginning to increase, with most entry-level positions paying around the £30,000 mark.

 

ANNUAL SALARY

Role: Analyst / 0-2 years AVP / 2-5 years VP / 5-7 years Director / 7-10 years MD / 10+ years
Relationship Manager £30k - £35k £35k - £55k £55k - £70k £65k - £85k £80k+
Client Services £25k - £30k £28k - £37k £35k - £45k £45k - £65k £65k+
Client Reporting £30k - £32k £30k - £35k £35k - £40k £40k - £45k £50k - £80k
Fund Manager's Assistant £30k - £40k £40k - £50k £45k - £65k £60k - £70k £65k - £80k
Portfolio Control & Cash Manager £30k - £35k £32k - £40k £40k - £50k £50k - £65k £65k - £80k
Performance Analyst £32k - £35k £35k - £45k £45k - £65k £50k - £70k £70k+
Transitions Manager £40k - £45k £40k - £50k £50k - £65k £60k - £80k £70k - £100k
Fund Administrator £25k - £30k £35k - £45k £45k - £65k £65k - £90k £90k+
Valuations & Pricing £30k - £35k £32k - £38k £35k - £45k £60k - £70k £70k - £100k
Data Manager £30k - £35k £32k - £40k £40k - £55k £50k - £80k £70k+
Business Manager £40k - £50k £50k - £65k £65k - £90k £80k - £110k £120k+

Contract/Temporary Rates

Much as was witnessed in the permanent market, 2014 has seen a large appetite for client services candidates as organisations look to best serve new and existing clients in a competitive market. This in turn has led to a surge in the number of Performance positions as clients demand more detailed information on their investments, creating increased demand in the Client Reporting space. 
 
Rates remain fairly steady in 2013 as supply continued to outweigh demand. This, coupled with continued cost cutting exercises, means that professionals have little bargaining power in pay negotiations. 

 

RATE PER HOUR

Role: Analyst / 0-2 years AVP / 2-5 years VP / 5-7 years Director / 7+ years
Client Services £12 - £14 £15 - £20 £21 - £25 £26 - £35
Client Reporting £13 - £15 £16 - £20 £21 - £26 £26 - £33
Fund Analyst £14 - £15 £16 - £20 £21 - £27 £28 - £38
Performance Analyst £12 - £15 £16 - £22 £23 - £29 £30 - £38
Fund Administrator £12 - £14 £15 - £18 £19 - £25 £26 - £33
Valuations and Pricing £12 - £14 £15 - £20 £21 - £23 £24 - £31
Data Management £12 - £14 £15 - £18 £19 - £22 £23 - £28
Reconciliations £12 - £14 £15 - £18 £19 - £25 £26 - £35
Trade Support £12 - £15 £16 - £19 £20 - £25 £26 - £37
Cash Management £12 - £14 £15 - £17 £18 - £22 £23 - £30
Settlements £12 - £15 £16 - £18 £19 - £21 £22 - £30

 

Commodities Salaries

Permanent Roles

2013 was a flat year overall within the Commodities space.  With large banks pulling out of their commodities businesses, the demand for professionals with strong backgrounds in this area was lower than in previous years. That said, the start of the new year showed some movement from some of the smaller banks and commodities trading houses. Much of the demand was to cover long-term absence and maternity, with a definite focus on the contract side. Salaries and rates on offer remained largely the same as in previous years, not helped in part by the saturation of professionals in the marketplace.

 

ANNUAL SALARY

Role: Junior Level Mid Level Senior Level
Head of Operations * * £120k+
Physical Energy Trade Support £35k - £55k £55k - £75k £75k - £110k
Commodity Derivatives Trade Support £30k - £45k £45k - £65k £65k - £90k
Clearing £30k - £40k £40k - £60k £60k - £90k
Settlements - Physical £25k - £45k £45k - £60k £60k - £90k
Settlements - Derivatives£25k - £40k £25k - £40k £40k - £55k £55k - £70k
Contracts £30k - £45k £45k - £60k £60k - £80k
Documentation (Derivatives) £30k - £40k £45k - £55k £55k - £75k
Collateral £30k - £45k £45k - £65k £65k - £90k
Shipping / Scheduling £40k - £50k £50k - £70k £70k - £100k
Business Analyst £30k - £40k £40k - £55k £65k - £90k
Project Manager * £60k - £75k £90k+
Client Services £35k - £45k £45k - £60k £60k - £80k
MIS / Controls £30k - £40k £40k - £50k £50k - £70k
Trade Finance £30k - £32k £45k - £50k £65k - £70k
Vault Operations £25k - £28k £35k - £45k £55k - £65k
Static Data £25k - £35k £35k - £45k £45k - £65k

*Typically, these roles do not exist at this level

 

Investment Banking and Brokerage Houses

Permanent and Contract/Temporary

2014 saw an exciting and unpredictable year for operational roles in Investment Banking and Brokerage, particularly in light of the continuing focus on Dodd Frank, EMIR and regulatory compliance. Demand for experienced and junior Operations professionals with strong regulatory knowledge pushed up the salaries and rates on offer in certain areas, most notably in regulatory reporting and client services. Demand for experienced middle office and trade support professionals with understanding of clearing knowledge also impacted the salaries and rates on offer. This year has also seen the formation of several new types of role in middle office, mostly centred on the regulatory compliance of the client on-boarding process. Rates and salaries for professionals formerly working in client services positions were also higher if they had relevant regulatory knowledge.

 

ANNUAL SALARY

Role: Analyst / 0-2 years AVP / 2-5 years VP / 5-7 years Director / 7-10 years MD / 10+ years
Trade or Sales Support / Desk Assistants
(+ up to £10k for Exotic Products)
£35k - £45k £45k - £60k £60k - £75k £75k - £110k £110k+
Client Services
(+ £5k - £10k for languages)
£30k - £45k £45k - £60k £60k - £75k £75k - £95k £100k+
Documentation / Reconciliations / Settlements £30k - £40k £40k - £65k £65k - £80k £80k - £95k £100k+
Collateral / Margin Management £30k - £45k £45k - £65k £65k - £85k £90k+ £100k+
Clearing
(+10k for OTC Clearing)
£35k - £45k £45k - £60k £60k - £85k £85k - £120k £120k+
Middle Office Control / Regulatory Control & Reporting £35k - £45k £45k - £60k £65k - £80k £80k - £120k £120k+
Asset Servicing £30k - £40k £40k - £60k £60k - £75k £75k - £90k £100k+
 
 

RATE PER DAY

Role: Analyst / 0-2 years AVP / 2-5 years VP / 5-7 years Director / 7+ years
Loans £150 - £175 £175 - £225 £225 - £300 £300+
Client Services £160 - £180 £180 - £250 £250 - £300 £300+
Asset Servicing £150 - £175 £175 - £230 £230 - £275 £275+
Collateral £160 - £180 £180 - £225 £225 - £275 £275+
Reconciliations £150 - £170 £170 - £200 £200 - £250 £250+
Equity / Fixed Income Trade Support £170 - £190 £190 - £250 £250 - £300 £300+
OTC Trade Support £170 - £185 £185 - £240 £240 - £275 £275+
Commodities Operations £150 - £180 £180 - £220 £220 - £280 £280+
Futures and Options Operations £150 - £180 £180 - £220 £220 - £280 £280+
FX / MM Options Operations £150 - £170 £170 - £220 £220 - £250 £250+
Settlements £150 - £170 £170 - £220 £220 - £250 £250+
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