Projects candidates with front line experience in high demand

projects candidates working in a meeting

Salary rates increased for projects professionals moving from middle office change positions to front office roles, according to the latest Robert Walters Salary Survey 2016.

During the first half of 2015, many major financial services firms prepared for the next round of regulatory initiatives by hiring high numbers of permanent and contract change professionals. 

The greatest demand was seen for candidates with front office experience and detailed knowledge of product and trading processes. 

“While demand for top talent remained strong in the second half of the year, the desire to reduce costs resulted in lower hiring with more pressure on teams to deliver using their existing resources,” said James Murray, Associate Director, Projects Recruitment, Robert Walters London.

The desire to reduce costs resulted in lower hiring and more pressure on teams to deliver using their existing resources

Regulatory change impacting hiring

Depending on the changes in the nature of each regulation, there will be an impact on what type of expertise will be in demand from professionals.

As MiFID II, MAD2 and FRTB will largely be delivered in 2016, there is likely to be a high demand for candidates in these areas. Overall, MiFID II, bank ring-fencing, FRTB and CRS were particularly high on the agenda.

Professionals in senior programming roles with strong track records in delivering regulatory programmes received a small increase in compensation. This reflected the scarcity of those skills and the penalties of failure to deliver against new regulatory requirements.

“The majority of recruitment spend will continue to be on regulatory programmes as a range of new requirements are delivered over the next 24 months,” James Murray continued.

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