LOB Salary Guide COMPLIANCE v2 SPREADS - Flipbook - Side 17
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While London roles still pay a premium,
salaries in regional hubs such as Manchester,
Birmingham and Glasgow have caught up
considerably. This is partly due to a rise in
flexible working, which has enabled candidates
to work mostly from home but still go into
a nearby regional office when necessary.
Employers continue to recognise the
importance of retaining their best staff in the
current climate, with firms committing to an
average base salary increase for existing
employees of 7%. This is up slightly from 6%
in 2021; however, nearly a third of organisations
(31%) currently believe candidates’ salary
expectations are not at all aligned with what
they can reasonably offer.
Bonuses remain an important part of wider
remuneration within compliance and financial
crime, and 89% of firms told us they are likely
to offer bonuses over the next 12 months.
It is possible that recent salary increases
are having an impact on packages though,
with the number of employers ‘very likely’ to
offer bonuses dropping from 78% in 2021 to
56% now.
Company size and sector are also a factor,
with buy-side firms usually offering higher
bonuses than sell-side businesses, but often
with more basic benefits.
Traditionally, many of these professionals would travel to London, whereas
now there are a lot more opportunities available closer to home with similar pay.
This is a win-win situation for banks with regional offices too, as they are now able
to tap into local talent pools in areas where they have traditionally struggled to hire.
— Jack Smith, Head of Financial Crime at Barclay Simpson.