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Demand for talent in financial services remains high

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Campion Willcocks’ Market Trends & Salaries report offers unique insight into current needs and changing trends in financial services.

The demand for interim, contractor and permanent change resources remains high in the UK financial services sector, according to Campion Willcocks’ inaugural Market Trends & Salaries Report. The leading provider of talented change professionals has published data covering more than 2,000 interim, contract and permanent change roles at 35 financial services organisations. This survey, the first of its kind, provides detailed insight into hiring trends in terms of organisations, demand, roles, geography and salary.

The report highlights that 90 per cent of requests for flexible resourcing come from established banks and financial institutions. Interestingly, almost half (46 per cent) of requirements from challenger banks, technology companies and start-ups are for permanent resources. The most sought after professionals representing over two thirds (74 per cent) of requirements were for business analysts, senior project managers, senior business analysts, project managers and programme managers. Almost two-thirds of interim and contract change management roles fell within the £550 to £900 a day range; fewer than one-third (30 per cent) of current roles reported a day rate of £450 and below.

Other key findings included: Retail banking shows the highest demand followed by commercial banking and investment banking. Increased demand from challenger banks, fintech firms and start-ups; Specialist know-how remains highly valued, particularly risk/regulatory and conduct risk, followed by digital, and transformation programmes focused on cost reduction and the customer experience; Southern England received more than half of requirements; more than one-fifth were in the north; Scotland was the third most popular at nearly one-sixth.

Richard Clifford, managing director at Campion Willcocks, said: “Overall, demand for interim and contract professionals in established banks and financial services companies remains very high compared to permanent resourcing. Organisations are looking for high quality flexible resources across the full range of roles, with some areas in particular demand. “This was an opportunity to use our network, contacts and experience to ‘take the temperature’ of demand and trends in the sector. This is the first in what’s planned to be an annual survey. Given recent developments in the UK, it will be fascinating to see how the market continues to develop in terms of focus, demand and salaries.”

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