Secretarial & Support | Financial Services
Over the past few months there has been considerable movement within the top-tier investment banks looking to bring on experienced secretarial and support staff, as well as within boutique firms such as asset management and family offices. The candidate flow has been relatively fluid, in particular among those with personal and executive
Salaries have remained constant throughout the year, with traditional PA roles being at the forefront of recruitment needs and salaries consistently in the £35k-£40k range. Many businesses are now looking for individuals with specific skill-sets and stand-out CVs, and will hold out for professionals who tick all the boxes. This could be language skills, a degree from a top 20 university or experience within a specific type of firm.
|Office Manager||£35k - £55k|
|Executive Assistant||£40k - £55k|
|Personal Assistant||£35k - £50k|
|Float Secretary||£28k - £40k|
|Trading Floor Secretary||£35k - £45k|
|Bi-lingual Secretary||£35k - £40k|
|Team Secretary||£28k - £40k|
|Research Assistant||£35k - £45k|
|Senior Administrator / Business Assistant||£28k - £40k|
|Administrator||£25k - £35k|
|Junior Administrator||£18k - £28k|
|Reception Manager||£28k - £35k|
|Receptionist / Switchboard||£20k - £28k|
The temporary Secretarial and Support market remained stable throughout 2013 and H1 2014, and we expect this to continue throughout the remainder of the year.
Within Banking and Financial Services the majority of contract roles have been at the junior and mid levels, with an increase in float and team secretaries across the majority of the investment banks. Interestingly, our Financial Services clients have also been selecting professionals with less experience, with a view to train them up. This impacts the hourly rates for professionals, which are typically in the region of £14-£16 per hour. We expect this trend to continue throughout 2014 and advise that a secretarial qualification is very beneficial to any individual looking to start a secretarial career. Clients tend to prefer hiring support staff on 3-6 month rolling contracts, as it overcomes any permanent headcount issues.
Contract vacancies currently account for 75% of the overall job flow. In previous years there would have only been seasonal variation reflecting holiday cover, but the ever-changing economic environment has changed the way businesses recruit in this sector.
RATE PER HOUR
|Office Manager||£18 - £22|
|Senior Executive Assistant||£20 - £25|
|Executive Assistant||£18 - £22|
|Personal Assistant||£17 - £21|
|Float Secretary||£17 - £20|
|Trading Floor Secretary||£17 - £21|
|Bi-lingual Secretary||£17 - £21|
|Team Secretary||£15 - £20|
|Senior Administrator||£18 - £22|
|Business Assistant||£15 - £18|
|Junior Administrator||£12 - £16|
|Administrator||£11 - £17|
|Receptionist / Switchboard||£11 - £15|
Secretarial & Support | Commerce & Industry / Professional Services
2013 was a mixed year for permanent secretarial roles within Commerce & Industry/Professional Services. There was a significant increase in companies releasing vacancies on a temp to perm basis thus giving the candidate time to settle into the role as well as giving the client time to see if the candidate is the right fit for the business. The difficulty with this process is that clients preferred to seek immediately-available professionals, limiting the chances for those who were on more than a week’s notice.
However, since the turn of the year, the interview process for permanent roles has lengthened, some processes even consisting of four interview stages. Clients want to find the best professional and believe a thorough process is essential.
We have not seen a dramatic change in salaries for permanent positions. However, we have seen a decrease in bonuses distributed within global organisations. Whilst the salaries remain stable for these roles, we do hope to see an increase in H2 2014.
|Office Manager||£30k - £40k|
|Executive Assistant||£30k - £50k|
|Personal Assistant||£24k - £40k|
|Bi-lingual Secretary||£30k - £45k|
|Team Secretary||£23k - £35k|
|Senior Administrator / Business Assistant||£26k - £35k|
|Administrator||£21k - £26k|
|Junior Administrator||£18k - £21k|
|Reception Manager||£25k - £30k|
|Receptionist / Switchboard||£16k - £23k|
From a contract perspective, there has been a wider range of roles on offer in terms of duration and duties. Smaller clients are often in need of short-term covers, so if candidates are job-searching in this sector, they need to be more flexible on duration of assignment, as a short-term role could open up more long-term opportunities.
The hourly rate for temporary roles has dramatically decreased as there are more people looking for work and therefore they must be flexible not only on the positions they cover but also their pay rates.
RATE PER HOUR
|Office Manager||£16 - £20|
|Senior Executive Assistant||£18 - £25|
|Executive Assistant||£15 - £22|
|Personal Assistant||£13 - £17|
|Float Secretary||£14 - £17|
|Bi-lingual Secretary||£15 - £20|
|Team Secretary||£13 - £17|
|Senior Administrator||£12 - £16|
|Business Assistant||£12 - £16|
|Junior Administrator||£8 - £12|
|Administrator||£9 - £14|
|Receptionist / Switchboard||£8 - £13|
|Reception Manager||£12 - £17|