The latest research from Robert Walters has found that over two thirds of risk professionals working in the UK anticipate a pay rise in 2017. Notably this year, 70% of professionals received a pay rise and 77% received a bonus.
“Ongoing pressure from regulators has driven up salaries for risk specialists, particularly those specialising in market risk, who remain highly sought after,” said Chad Lawson, Associate Director at Robert Walters.
Key trends in 2016
Despite uncertainty among banks and financial institutions in the wake of Britain’s decision to leave the EU, job confidence among risk professionals remains high. 55% of legal professionals said that the outcome of the Brexit vote will not impact their motivation to change roles in 2017.
In terms of bonuses, 77% of risk professionals received one in 2016 and a profound 93% expect to receive one in 2017.
Of the employees who found a new role in 2016, only 11% received a counter offer which was a drop of 15% compared to the year prior.
Hiring is likely to increase in 2017 with regulatory deliverables and a more robust attitude to risk management driving activity.
One third of risk professionals are already looking for a new role and a further 24% plan to start looking for a new role in the next 3-12 months.
The largest percentage of professionals say that their main motivation for finding a new role is for career progression and a third say a pay rise/change in compensation package is their second largest motivation.
“Professionals specialising in emerging risks such as information security risk and cyber risk, will be at the forefront of hiring, in addition to those with risk methodology/change expertise,” said Lawson.
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