Interim pay soars

Interim pay soars





































Interim pay soars

The ‘War for talent’
is pushing up pay for interim managers working in banks by 50 percent. Rates
are up to £1,500 a day, reflecting the growing power of “middle office” over
trading and sales.

Financial services companies
are engaged in a ‘war for talent’ which has driven pay for interim managers who
specialise in risk and compliance work 50 percent higher over the last two
years, says Interim Partners, the leading provider of interim management
solutions.

According to Interim
Partners, interim managers with risk and compliance experience were typically
earning up to £1,000 a day before the credit crunch, but many are now earning
up to £1,500 daily as demand for their skills intensifies. Andrew McIntee, Head
of Financial Services Practice at Interim Partners explains that this increase
in rates for interim managers in risk/credit and compliance reflects a dramatic
overall shift in power to the “middle office” part of banks.

Says Andrew McIntee: “Whilst
all the headlines focus on multi-million pound pay-outs to traders this has
obscured the growing status and authority of the “middle office” within the
investment and retail banks.” He continued, “before the credit crunch
compliance and risk were sometimes seen as a necessary evil and were portrayed
by sales and traders as a costly impediment to writing business – although they
would have used stronger language!”

“Now the value of these
previously unsung heroes is being recognised. They now have more say over what
deals get done than at anytime since the last recession. The amount of US or UK
government help that a bank has had to receive is largely put down either to
the overall strength of their risk management or more specifically to the
doggedness of their credit teams,  their
ability to argue their case convincingly.”

27 November 2009

 

Human Resources news brought to you by theHRDIRECTOR – the only independent strategic HR publication.

 

Read more

Latest News

Read More

Navigating the summer holidays as a working parent/caregiver

28 July 2025

Culture

28 July 2025

In today’s fast-paced work environment, emotional intelligence (EI) is a must-have skill for HR leaders. It's the key to building stronger relationships, enhancing communication, resolving...

Change Management

26 July 2025

Communicating redundancy proposals is a profoundly challenging task, which directly impacts the lives of those who are leaving. It can also have a ripple effect...

Newsletter

Receive the latest HR news and strategic content

Please note, as per the GDPR Legislation, we need to ensure you are ‘Opted In’ to receive updates from ‘theHRDIRECTOR’. We will NEVER sell, rent, share or give away your data to third parties. We only use it to send information about our products and updates within the HR space To see our Privacy Policy – click here

Latest HR Jobs

University of Sussex – Human Resources Salary: £25,733 to £29,179. Grade 4, per annum, pro rata if part time

UCL – Chemistry Department / Faculty of Mathematical & Physical SciencesSalary: £54,172 to £63,752

University of Oxford – Department of PsychiatrySalary: £31,459 to £36,616 (discretionary range to £39,749) per annum. Grade 5

Loughborough University – Human ResourcesSalary: £46,735 to £55,755 per annum. Subject to annual pay award.

Read the latest digital issue of theHRDIRECTOR for FREE

Read the latest digital issue of theHRDIRECTOR for FREE