City Pay Increases
Financial Services Specialists in Demand
Pay in financial services rose by 3.5% in the year to March 2017, four times the average rate of other professional sectors. A study by the Association of Professional Staffing Companies (APSCo) reported a median increase of 0.8% across all professional staffing sectors, the highest being within financial services.
With an increased demand for financial services specialists, City employers are being forced to improve pay offers.
“As demand for placements via recruiters continue to rise, the search for talent is becoming more competitive – and creative - as evidenced by the increase in salaries and rise in forward vacancies registered by hiring companies,” Ann Swain, CEO of APSCo said.
Ann sees a change in dynamics as employers have to exercise flexibility: “with the candidate-stream slowing down and skills shortages intensifying, we’re seeing greater rewards and retention initiatives being offered by hiring companies, as well as more consideration to flexible and interim assignments in a bid to find short term solutions.”