LOB Salary Guide COMPLIANCE v2 SPREADS - Flipbook - Side 11
11
Key trends affecting compliance
recruitment in 2023
Over the coming year, we expect various political,
economic and social factors to have an impact on
permanent and contract hiring across compliance
and financial crime.
1. Junior talent shortages
At the height of the Covid-19 pandemic, many
organisations delayed or paused their recruitment
activities, including junior hiring, graduate schemes
and internal promotions. As a result, there has been
an ongoing shortage of suitable candidates available
to step into AVP and Associate roles since business as
usual resumed.
Furthermore, existing AVPs and Associates now have
considerably more experience at this level than
usual after remaining in these roles throughout the
pandemic. Salaries are therefore higher than ever
before within this area of the market, and the up-andcoming talent pool to replace them remains shallow.
It is not uncommon for an AVP role to be advertised
at, say, the £65-70K range, but a quality candidate
receive offers of up to £90K, as employers fiercely
compete with each other to secure top talent.
Over the long term, these salary increases are likely
to be unsustainable, and we expect the market to
recalibrate once the flow of junior candidates returns
to pre-pandemic levels.