2017 has continued to go from strength to strength for operations recruitment in 2017, which was anticipated from an above average Q4 in 2016.
Clients and candidates alike, have been busy in the market with the latter seemingly being approached for several similar roles thus, landing multiple interviews.
We saw an influx of graduate level support positions, with the summer period and imminent university graduations across the country providing the perfect source of fresh, keen candidates. The volume of new client services roles released also noticeably increased. Junior candidates (straight out of university) can expect salaries of between circa £28,000 to £30,000 whilst, mid to senior level roles can go all the way up to £55,000 to £60,000.
With a large number of administrative positions available in operations, we experienced a peak in demand for candidates with a strong technical understanding of funds, securities and financial instruments to take and lead an array of operational processes. Starting salaries in an operations analyst capacity are set at around £30,000 to £35,000. These can go all the way up to around £50,000.
Performance analysis remains a busy hiring area, with clients continuing to demand candidates with strong attribution and systems experience i.e. StatPro and Factset. We have had a number of vacancies from entry level to senior analyst hires requiring fixed income and multi-asset knowledge. Senior level roles were pitched at £60,000 requiring candidates with 3+ years of experience. Junior to mid level roles were pitched at circa £45,000
Preference is given to candidates with a good degree and the IMC qualification (and/or Masters). Employers are sometimes hesitant about appointing anyone with a CFA qualification (within Operations) as these candidates often regard a middle office position with an asset management company as a stepping stone into the front office.
For niche roles, we have seen salary uplifts of around 12% to 15% with some firms even going to 20% uplifts for exceptional candidates. Thanks to a comparatively high volume of available candidates in the market, clients remain very rigid in their requirements from a skill set and personality perspective and it remains firmly a buyer’s market. This is a trend we anticipate to continue into August, with a return to more buoyant hiring conditions and faster interview processes in September.
N.B. Salary ranges are dependent on company structure and relevant experience.