Salaries for risk professionals will rise 6% in 2018

Arrow showing salaries are rising in 2018 for risk professionals

The Robert Walters 2018 Salary Survey has found that salaries for risk professionals will increase by 6% in 2018.

In light of ongoing pressure from regulators, demand for risk professionals has been high from banks and financial services employers.

“Regulatory pressure continues to shape hiring strategies for banks and financial services firms, with the reputational and financial risks of failing to achieve compliance a significant concern for employers,” said James Murray, Director at Robert Walters.

“As a result, risk professionals have been highly sought after, with demand outstripping supply. In particular, risk specialists with experience in the FRTB and IRRBB have been able to command high salaries and generous bonus structures.”

“Specialists in quantitative risk, particularly those with experience in model validation or counterparty analytics, will see the highest surge in demand for their skills and the sharpest corresponding increase in salary at up to 25%.”

“These increases are being driven by the critically short supply of candidates, coupled with particularly acute pressure from regulators in this area.”

Employers should look beyond salary to secure top talent

While salary remains a high priority for risk professionals, employers should not neglect other factors that can be vital in attracting and retaining top talent.

“Risk professionals are aware of the fact that their skills are in high demand, particularly as deadlines approach for the implementation of new regulatory frameworks,” continued James Murray, Director at Robert Walters.high salaries are expected and employers may need to consider other ways to gain an edge over competitors in the battle for talent.”

“As a result, high salaries are expected and employers may need to consider other ways to gain an edge over competitors in the battle for talent.”

“In particular, work life balance and the potential for long term career progression are regarded as high priorities by risk specialists. Employers should consider emphasising policies such as flexible or remote working when advertising a role, as well formal training or career development initiatives.”

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