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Friday, 14th August 2020
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Candidates really are calling all the shots’ Back  
As the financial services sector continues to suffer from skills shortages, the power of job candidates continues to grow says a new survey.
‘Candidates really are calling all the shots,’ comments Louise Campbell, managing director Ireland of Robert Walters plc, of the firm’s latest salary survey.

‘We have noticed a definitive switch in the market as employers use benefits packages to differentiate their offer, salaries are increasing (up between 3-15%) but not at the rate of previous years. Candidates are focusing on companies that offer stability, continued challenge and training and development opportunities ‑ as well as a great salary,’ she adds.

In banking, the growth areas over the past year were wealth management, which saw significant growth most notably in the development of boutique firms providing alternatives to the large traditional institutions. This growth has resulted in an increased demand for portfolio managers.
The corporate and commercial lending sectors also continued to grow aggressively, both domestically and internationally, resulting in continued demand for experienced relationship managers, credit analysts and loan administrators.

In the funds servicing sector, Robert Walters says that he primary challenge in this sector remains the attraction and retention of skilled staff. As a result, organisations are seeking to combat staff shortages by recruiting staff from other industries (e.g. insurance) and also by offering flexitime and flexible benefits to employees. ‘Nonetheless, hiring managers can often expect to wait three to four months to fill key roles in the business, with TA and fund accounting managers proving the most difficult to source,’ says the survey.

Regulatory accounting is set to be a key area of demand in 2007 say Robert Walters, ‘as organisations assess their resources in this area in advance of the introduction of Basel II in January 2008’. IFRS and Sarbanes-Oxley experience also remains highly sought after.

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