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Risk & compliance jobs to see biggest salary rise

Recruitment firms say new finance jobs in London at 5-year low

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Risk and compliance salaries are expected to rise at rate above other segments of the accounting profession as overall recruitment in the City financial services industry falls to its lowest level in 5 years.

According to Robert Half Financial Services, risk and compliance audit salaries are expected to rise by 5.4 percent in 2013, while most other segments of the accounting profession will see rises between 2.5 percent and 3.6 percent.

Salary for management positions for regulatory accountants should rise by 3.7 percent, while an accountant with 4 to 7 years' post qualification experience could expect a 2.5 percent rise. Newly qualified professionals to those with 3-years' post qualification experience could see a 3.6 percent rise, while others should see a 3.4 percent increase.

Robert Half attributed the rise in compliance salaries to increasing regulation and finance functions. Its managing director, Phil Sheridan, said, "Professionals are benefitting as companies look for additional insight and strategy into business process improvement, cost savings and new sources of revenue."

Meanwhile, city recruitment firm Astbury Marsden said on Monday that London's financial services sector suffered its worst November for hiring for 5 years with the number of new jobs created falling by a third in year-over-year terms.

A mere 1,790 new finance jobs were created in London last month down from 2,670 in November last year and 13,000 in November 2007, before the onset of the global financial crisis.

In a separate study, another recruitment consultancy Morgan McKinley found that there were 2,079 new financial services jobs in November; a 24 percent drop on an annualised basis.

It also added that the number of job-seeking professionals in London’s financial sector is now at its lowest level since January 2004.


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