salary guide uk - amazon web services...2020 accounting and finance in banking salary guide our 2020...

SALARY GUIDEUK

INTRODUCTION FROM DAVID LEITHEAD - UK CHIEF OPERATIONS OFFICER

DAVID LEITHEAD

Chief Operations Officer | UK

Generally, the most prominent theme in the UK’s professional recruitment market throughout 2019 was how Brexit caused uncertainty, with employers reluctant to commit to hiring and job seekers hesitant to make the leap when offers did materialise. The quantity of jobs available and hires completed were both heavily impacted, as reported in the results of all the major PLC recruiters as the year progressed. According to Bank of England research, UK businesses expect more clarity and certainty to return in 2020 and a key question for recruiters is whether demand has become pent up in the system, in which case we could see a spike in hiring and an escalating war for talent in 2020.

As well as Brexit headwinds, another spectre hanging over a major section of the professional workforce in the private sector is the much publicised reform of IR35. This reform aims to transform the enforcement of these 20 year old tax rules that were designed to prevent workers from using Limited Company entities to disguise employment. If the plans are rolled out in April 2020 and not delayed by the new government, it will result in a largely negative transformation of the private sector contracting landscape, with much collateral damage, at least in the short term.

2020 will see the recruitment market further impacted by the use of technology tools and particularly Artificial Intelligence. The development and deployment of these tools continue to accelerate, along with the debate about whether they are good or bad for the industry.

AI is held out to be a game changer in eliminating bias from recruitment, but as well as doubt over how we can trust the machine to get it right, there are ethical and moral dilemmas. And it seems job seekers don’t like it - research in 2019 showed that 86% of job seekers would prefer a human being to review their CV, and 73% feel a highly automated recruitment process worsens their perceptions of an employer. So it will be interesting to see how things play out in the next 12 months and where progress is made.

Technology advances are affecting recruitment in other ways too, as many jobs are changing and the skills sets sought after are adjusting as well. Managing this new breed of employee is something that traditional managers are not always equipped to do, and development around that will be a major theme of organisations’ hiring in the coming year.

Our individual market reports show that the topic of flexibility in the workplace and a greater focus on wellbeing and work life balance are big themes for 2020. Organisations will face real challenges with engagement as more of their employees disappear from the traditional office set up. Employers will also need to be diligent because, in 2019, it became clear that increased levels of flexibility seemed to drive up working hours - an unexpected and generally unwelcome consequence.

Overall many recruitment companies in the UK will be looking forward to 2020 in the hope for a more positive market. There will be challenges but also lots of opportunities!

Salary Guide 2020ACCOUNTING & FINANCE

ACCOUNTING & FINANCE - BANKING

OVERVIEW OF ACCOUNTING & FINANCE IN BANKING RECRUITMENT

Recruitment of finance professionals in banking was largely mixed over the course of 2019. The larger banks were impacted by different events at differing levels - not all have been majorly influenced by Brexit, but all were affected by challenging trading conditions in general. This meant that over the course of 2019, it was difficult to predict which finance vacancies would be released.

With the continued offshoring occurring across the banking world throughout 2019, the finance jobs left in London were increasingly specialist. Offshoring clearly impacted the product control teams at bigger banks, but we still saw a smattering of vacancies in this area. Over the duration of last year, we noticed how the standard production positions were less likely to be based in London, meaning finance professionals looking for roles in banking had to be able to diversify their skill set if they wanted to successfully secure a new job.

The lack of commercially focused vacancies in the first half of the year was noticeable, however this drastically picked up over the latter half of 2019. Technically focused roles and controls based vacancies dominated the financial recruitment landscape. As a number of additional regulations came to the banking market, there was a higher requirement for interim Regulatory Reporting professionals, alongside Controls and Governance, as banks wanted to ensure they met the regulators’ requirements.

Obviously, discussions around changes within IR35 had some impact on roles. There was a noticeable hold on roles prior to November, but with the budget being cancelled and no announcement being made, the floodgates opened up and plenty of interim assignments came to the market in November. All in all, it was a mixed year for banking positions.

Top 3 Accounting & Finance in Banking roles

• Technical Accountants• Regulatory Reporting• Product Control

Prominent benefits across Accounting & Finance in Banking

To attract and retain the best finance talent, banking employers have had to become increasingly open to flexible working initiatives as this is what professionals truly value nowadays. Even on the contract side of the market, where there are typically no associate benefits, agile working and flexibility is being encouraged across various banking disciplines. The most prevalent form of flexibility is offering employees the ability to work from home or adjusted hours to accommodate for their busy personal lives, but in a few instances employers have implemented a four day working week.

This has frequently been seen at the big banks where there is much more of a focus on workplace wellness, but this is inevitably because they have greater access to the necessary resources. Flexibility around working patterns is attractive to senior professionals who are more likely to have greater family commitments, but it is important for policies to be regularly updated and developed to ensure it suits all employees, prospective or existing.

The UK is in a period of historic uncertainty. In these unstable, Brexit-influenced times, it is incredibly difficult to predict anything. This theme won’t really change until Brexit is resolved and the vast majority of roles will continue to be offshored to cheaper locations.

Much like 2019, we anticipate there will be a strong demand for Regulatory Reporting professionals in 2020. This will be on both permanent and interim markets, as the Bank of England has sent out letters to banks confirming that most of them are failing in their Regulatory Reporting space. Further to this, new regulations may be created as we leave the European Union, meaning financial services organisations trading in the UK will have to adjust and adhere to them.

The changes to IR35, due to come into force in April 2020, could increase the level of Fixed Term Contracts and PAYE roles. Banks will still require a flexible contractor workforce, but we will probably see a reduction in Limited Company contracts and a rise in PAYE assignments if the changes aren’t delayed by the government.

Some companies are riding the crest of the wave of growth and hiring as a consequence. These are generally within investment banking or challenger banks, but we predict the most prevalent roles will be more reporting based and technically focused. Cost saving will remain a big driver for hiring in 2020. With low levels of growth predicted, financial services institutions will continue to seek ways in which they can reduce costs and improve their bottom line. For instance, types of roles such as commercially focused finance roles around partnering with cost centres to improve productivity of the cost base will continue to be in high demand throughout the coming year.


Predictions for 2020


BANKING SALARY TIER 1 PART QUALIFIED | PERMANENT (Annual salary)

© Morgan McKinley 2020

UNITED KINGDOM - 2020 ACCOUNTING & FINANCE - BANKING SALARY GUIDE

2020 ACCOUNTING AND FINANCE IN BANKING SALARY GUIDE

Our 2020 Accounting & Finance in Banking Salary Guide highlights remuneration and key hiring trends forprofessionals in the Banking sector.

TIER 1

Part Qualified - Permanent (£ Per Annum)

Job Title Low Average High

Accountancy Graduate £16,000 £30,000 £40,000

Accounts Assistant £16,000 £22,000 £30,000

Accounts Payable Specialist £16,000 £20,000 £25,000

Accounts Receivable Specialist £16,000 £25,000 £30,000

Billing Administrator £16,000 £25,000 £30,000

Book Keeper £16,000 £25,000 £30,000

Credit Controller £16,000 £25,000 £30,000

Payroll Manager £25,000 £40,000 £45,000

Financial Controller / Group Financial Controller £20,000 £35,000 £40,000

Finance Business Partner £20,000 £40,000 £45,000

Financial Accountant / Group Financial Accountant / GLAccountant

£16,000 £30,000 £40,000

Financial Analyst £20,000 £40,000 £45,000

Management Accountant £20,000 £30,000 £45,000

Product Controller £20,000 £35,000 £45,000

Systems Accountant £20,000 £35,000 £40,000

Part Qualified - Contract (£ Per Day)


Accountancy Graduate £85 £100 £110


BANKING SALARY TIER 1 PART QUALIFIED | CONTRACT (£ Per Day)





TIER 1








Book Keeper £16,000 £25,000 £30,000


Payroll Manager £25,000 £40,000 £45,000




£16,000 £30,000 £40,000










Accounts Assistant £85 £105 £120

Accounts Payable Specialist £85 £105 £120

Accounts Receivable Specialist £85 £105 £120

Billing Administrator £85 £100 £110

Bookkeeper £90 £150 £175

Credit Controller £90 £130 £150

Credit Manager £200 £300 £350

OTC Manager £200 £300 £350

Part-Time Accounts £180 £200 £250

Payroll Manager £200 £250 £300

Commercial Analyst £200 £275 £300

Cost Accountant £200 £275 £300

Expense Accountant £200 £275 £300

Finance Business Partner £200 £275 £300


£200 £275 £300

Financial Analyst £200 £275 £300

Fixed Assets Analyst £200 £275 £300

Fund Accountant £200 £275 £300

Management Accountant £200 £275 £300

Product Controller £200 £275 £300

Project Accountant £200 £275 £300

Revenue Accountant £200 £275 £300

Systems Accountant £200 £275 £300

Senior Finance Analyst £200 £275 £300

Finance Analyst £200 £275 £300

Newly Qualified - Permanent (£ Per Annum)





TIER 1








Book Keeper £16,000 £25,000 £30,000


Payroll Manager £25,000 £40,000 £45,000




£16,000 £30,000 £40,000

















OTC Manager £200 £300 £350








£200 £275 £300












BANKING SALARY TIER 1 PART QUALIFIED | CONTRACT (£ Per Day)











OTC Manager £200 £300 £350








£200 £275 £300












BANKING SALARY TIER 1 NEWLY QUALIFIED | PERMANENT (£ Per Annum)






£50,000 £55,000 £60,000





Newly Qualified - Contract (£ Per Day)


Financial Accounting Manager £350 £375 £400

Financial Planning and Analysis Manager £300 £350 £400

Commercial Finance Manager £300 £350 £400

GL Manager £300 £350 £400

Finance Manager £300 £350 £400

FP&A Manager £300 £350 £400







£300 £350 £400












£50,000 £55,000 £60,000










GL Manager £300 £350 £400


FP&A Manager £300 £350 £400







£300 £350 £400






BANKING SALARY TIER 1 NEWLY QUALIFIED | CONTRACT (£ Per Day)










Financial Controller / Group Financial Controller £350 £400 £450

Management Reporting Manager £350 £400 £450

Group Reporting Manager £350 £400 £450



GL Manager £350 £400 £450


FP&A Manager £350 £400 £450

AVP - Permanent (£ Per Annum)





£50,000 £65,000 £75,000





AVP - Contract (£ Per Day)

BANKING SALARY TIER 1 NEWLY QUALIFIED | CONTRACT (£ Per Day)






£50,000 £55,000 £60,000










GL Manager £300 £350 £400


FP&A Manager £300 £350 £400







£300 £350 £400







BANKING SALARY TIER 1 AVP | PERMANENT (£ Per Annum)














GL Manager £350 £400 £450


FP&A Manager £350 £400 £450






£50,000 £65,000 £75,000






BANKING SALARY TIER 1 AVP | CONTRACT (£ Per Day)














GL Manager £350 £400 £450


FP&A Manager £350 £400 £450






£50,000 £65,000 £75,000














£350 £400 £450











FP&A Manager £350 £400 £450

VP - Permanent (£ Per Annum)


Financial Accounting Manager £80,000 £90,000 £110,000


Head of FP&A £85,000 £95,000 £120,000

Management Reporting Manager £80,000 £90,000 £110,000

Group Reporting Manager £80,000 £90,000 £100,000

Vice President - Financial Reporting £80,000 £95,000 £120,000

Vice President - Regulatory Reporting £80,000 £95,000 £120,000

BANKING SALARY TIER 1 AVP | CONTRACT (£ Per Day)














GL Manager £350 £400 £450


FP&A Manager £350 £400 £450






£50,000 £65,000 £75,000














£350 £400 £450











FP&A Manager £350 £400 £450





Head of FP&A £85,000 £95,000 £120,000














£350 £400 £450











FP&A Manager £350 £400 £450





Head of FP&A £85,000 £95,000 £120,000





BANKING SALARY TIER 1 VP | PERMANENT (£ Per Annum)









£350 £400 £450











FP&A Manager £350 £400 £450





Head of FP&A £85,000 £95,000 £120,000





BANKING SALARY TIER 1 VP | PERMANENT (£ Per Annum)









£350 £400 £450











FP&A Manager £350 £400 £450





Head of FP&A £85,000 £95,000 £120,000








Financial Planning and Analysis Manager £80,000 £95,000 £120,000

Finance Manager £60,000 £70,000 £80,000




£70,000 £85,000 £100,000





VP - Contract (£ Per Day)




Head of FP&A £450 £500 £550



SSC Director £450 £500 £550

Director - Financial Reporting £450 £500 £550

Vice President - Financial Reporting £450 £500 £550

Vice President - Regulatory Reporting £450 £500 £550



GL Manager £450 £500 £550


FP&A Manager £450 £500 £550


BANKING SALARY TIER 1 VP | CONTRACT (£ Per Day)




Finance Manager £60,000 £70,000 £80,000




£70,000 £85,000 £100,000









Head of FP&A £450 £500 £550









GL Manager £450 £500 £550


FP&A Manager £450 £500 £550









£450 £500 £550











Head of FP&A £450 £500 £550

FP&A Manager £450 £500 £550

Director - Permanent (£ Per Annum)




Financial Director £90,000 £110,000 £150,000

Head of FP&A £100,000 £130,000 £180,000

Chief Financial Officer £100,000 £150,000 £200,000




BANKING SALARY TIER 1 DIRECTOR | PERMANENT (£ Per Annum)








£450 £500 £550











Head of FP&A £450 £500 £550

FP&A Manager £450 £500 £550






Head of FP&A £100,000 £130,000 £180,000








£100,000 £130,000 £150,000





Director - Contract (£ Per Day)


Financial Controller / Group Financial Controller £500 £800 £1,000+

Financial Director £600 £1,000 £1,200+

Head of FP&A £500 £800 £1,000+

Chief Financial Officer £600 £1,200 £2,000

SSC Director £500 £800 £1,000+

Director - Financial Reporting £500 £800 £1,000+

Head of FP&A £500 £650 £1,000+

SMES, BOUTIQUES & BROKERAGE








Bookkeeper £16,000 £25,000 £30,000



BANKING SALARY TIER 1 DIRECTOR | CONTRACT (£ Per Day)





£100,000 £130,000 £150,000









Head of FP&A £500 £800 £1,000+


SSC Director £500 £800 £1,000+


Head of FP&A £500 £650 £1,000+









Bookkeeper £16,000 £25,000 £30,000


BANKING SALARY SMES, BOUTIQUES & BROKERAGE PART QUALIFIED | PERMANENT (£ Per Annum)





£100,000 £130,000 £150,000









Head of FP&A £500 £800 £1,000+


SSC Director £500 £800 £1,000+


Head of FP&A £500 £650 £1,000+









Bookkeeper £16,000 £25,000 £30,000



BANKING SALARY SMES, BOUTIQUES & BROKERAGE PART QUALIFIED | PERMANENT (£ Per Annum)



Payroll Manager £25,000 £40,000 £45,000




£16,000 £30,000 £40,000















OTC Manager £200 £300 £350








£200 £275 £300





£100,000 £130,000 £150,000









Head of FP&A £500 £800 £1,000+


SSC Director £500 £800 £1,000+


Head of FP&A £500 £650 £1,000+









Bookkeeper £16,000 £25,000 £30,000



BANKING SALARY SMES, BOUTIQUES & BROKERAGE PART QUALIFIED | CONTRACT (£ Per Day)



Payroll Manager £25,000 £40,000 £45,000




£16,000 £30,000 £40,000















OTC Manager £200 £300 £350








£200 £275 £300

BANKING SALARY SMES, BOUTIQUES & BROKERAGE PART QUALIFIED | CONTRACT (£ Per Day)



Payroll Manager £25,000 £40,000 £45,000




£16,000 £30,000 £40,000















OTC Manager £200 £300 £350








£200 £275 £300













Head of FP&A £200 £275 £300






£50,000 £55,000 £60,000












Payroll Manager £25,000 £40,000 £45,000




£16,000 £30,000 £40,000















OTC Manager £200 £300 £350








£200 £275 £300


BANKING SALARY SMES, BOUTIQUES & BROKERAGE NEWLY QUALIFIED | PERMANENT (£ Per Annum)













Head of FP&A £200 £275 £300






£50,000 £55,000 £60,000











BANKING SALARY SMES, BOUTIQUES & BROKERAGE NEWLY QUALIFIED | CONTRACT (£ Per Day)













Head of FP&A £200 £275 £300






£50,000 £55,000 £60,000













GL Manager £250 £300 £350


FP&A Manager £250 £300 £350







£250 £300 £350











Head of FP&A £250 £300 £350






£50,000 £65,000 £75,000


BANKING SALARY SMES, BOUTIQUES & BROKERAGE AVP | PERMANENT (£ Per Annum)














GL Manager £300 £350 £400


FP&A Manager £300 £350 £400







£300 £350 £400









GL Manager £250 £300 £350


FP&A Manager £250 £300 £350







£250 £300 £350











Head of FP&A £250 £300 £350






£50,000 £65,000 £75,000



BANKING SALARY SMES, BOUTIQUES & BROKERAGE AVP | CONTRACT (£ Per Day)














GL Manager £300 £350 £400


FP&A Manager £300 £350 £400







£300 £350 £400







BANKING SALARY SMES, BOUTIQUES & BROKERAGE AVP | CONTRACT (£ Per Day)














GL Manager £300 £350 £400


FP&A Manager £300 £350 £400







£300 £350 £400





















GL Manager £300 £350 £400


FP&A Manager £300 £350 £400







£300 £350 £400













FP&A Manager £300 £350 £400



Payroll Manager £80,000 £90,000 £110,000



Head of FP&A £85,000 £95,000 £120,000






Finance Manager £60,000 £70,000 £80,000




£70,000 £85,000 £100,000






BANKING SALARY SMES, BOUTIQUES & BROKERAGE VP | PERMANENT (£ Per Annum)







FP&A Manager £300 £350 £400



Payroll Manager £80,000 £90,000 £110,000



Head of FP&A £85,000 £95,000 £120,000






Finance Manager £60,000 £70,000 £80,000




£70,000 £85,000 £100,000







BANKING SALARY SMES, BOUTIQUES & BROKERAGE VP | CONTRACT (£ Per Day)





Head of FP&A £400 £500 £550

Chief Financial Officer £400 £500 £550









GL Manager £400 £500 £550


FP&A Manager £400 £500 £550







£400 £500 £550













FP&A Manager £300 £350 £400



Payroll Manager £80,000 £90,000 £110,000



Head of FP&A £85,000 £95,000 £120,000






Finance Manager £60,000 £70,000 £80,000




£70,000 £85,000 £100,000







BANKING SALARY SMES, BOUTIQUES & BROKERAGE VP | CONTRACT (£ Per Day)





Head of FP&A £400 £500 £550










GL Manager £400 £500 £550


FP&A Manager £400 £500 £550







£400 £500 £550













FP&A Manager £300 £350 £400



Payroll Manager £80,000 £90,000 £110,000



Head of FP&A £85,000 £95,000 £120,000






Finance Manager £60,000 £70,000 £80,000




£70,000 £85,000 £100,000










Head of FP&A £400 £500 £550










GL Manager £400 £500 £550


FP&A Manager £400 £500 £550







£400 £500 £550













Head of FP&A £400 £500 £550

FP&A Manager £400 £500 £550



Payroll Manager £100,000 £125,000 £150,000




Head of FP&A £100,000 £130,000 £180,000






£100,000 £130,000 £150,000








BANKING SALARY SMES, BOUTIQUES & BROKERAGE DIRECTOR | PERMANENT (£ Per Annum)







Head of FP&A £400 £500 £550

FP&A Manager £400 £500 £550



Payroll Manager £100,000 £125,000 £150,000




Head of FP&A £100,000 £130,000 £180,000






£100,000 £130,000 £150,000










BANKING SALARY SMES, BOUTIQUES & BROKERAGE DIRECTOR | PERMANENT (£ Per Annum)







Head of FP&A £400 £500 £550

FP&A Manager £400 £500 £550



Payroll Manager £100,000 £125,000 £150,000




Head of FP&A £100,000 £130,000 £180,000






£100,000 £130,000 £150,000














Head of FP&A £400 £500 £550

FP&A Manager £400 £500 £550



Payroll Manager £100,000 £125,000 £150,000




Head of FP&A £100,000 £130,000 £180,000






£100,000 £130,000 £150,000








BANKING SALARY SMES, BOUTIQUES & BROKERAGE DIRECTOR | CONTRACT (£ Per Day)







Head of FP&A £400 £500 £550

FP&A Manager £400 £500 £550



Payroll Manager £100,000 £125,000 £150,000




Head of FP&A £100,000 £130,000 £180,000






£100,000 £130,000 £150,000











Head of FP&A £500 £800 £1,000+


SSC Director £500 £800 £1,000+


Head of FP&A £500 £650 £1,000+

Overview of Accounting & Finance in Banking recruitment

Recruitment of finance professionals in banking was largely mixed over the course of 2019. The largerbanks were impacted by different events at differing levels - not all have been majorly influenced byBrexit, but all were affected by challenging trading conditions in general. This meant that over the courseof 2019, it was difficult to predict which finance vacancies would be released.

With the continued offshoring occurring across the banking world throughout 2019, the finance jobs left inLondon were increasingly specialist. Offshoring clearly impacted the product control teams at biggerbanks, but we still saw a smattering of vacancies in this area. Over the duration of last year, we noticedhow the standard production positions were less likely to be based in London, meaning financeprofessionals looking for roles in banking had to be able to diversify their skill set if they wanted tosuccessfully secure a new job.

The lack of commercially focused vacancies in the first half of the year was noticeable, however thisdrastically picked up over the latter half of 2019. Technically focused roles and controls based vacanciesdominated the financial recruitment landscape. As a number of additional regulations came to the bankingmarket, there was a higher requirement for interim Regulatory Reporting professionals, alongsideControls and Governance, as banks wanted to ensure they met the regulators’ requirements.

Obviously, discussions around changes within IR35 had some impact on roles. There was a noticeable holdon roles prior to November, but with the budget being cancelled and no announcement being made, thefloodgates opened up and plenty of interim assignments came to the market in November. All in all, it wasa mixed year for banking positions.

Top 3 Accounting & Finance in Banking roles

Technical AccountantsRegulatory ReportingProduct Control

Prominent benefits across Accounting & Finance in Banking

To attract and retain the best finance talent, banking employers have had to become increasingly open toflexible working initiatives as this is what professionals truly value nowadays. Even on the contract side of

ACCOUNTING & FINANCE - COMMERCE & INDUSTRY

OVERVIEW OF ACCOUNTING & FINANCE IN COMMERCE & INDUSTRY RECRUITMENT

2019 was an interesting year for the hiring of finance professionals into Commerce and Industry. The year started strongly in terms of recruitment, before the predicted drop off in March/April, whilst Q2 was challenging due to the delay of Brexit and many roles were shelved. Matters improved in June as companies tweaked business plans in order to react to the market and the usually quiet summer months proved fruitful, with recruitment continuing - particularly around finance projects. The year finished on a positive note, as many businesses hired resources which meant they started 2020 in the strongest possible position.

There were a lot of newsworthy items throughout the year that impacted the finance recruitment market, but the businesses that remained adaptable to the constant changes and challenges were the most successful. Part of this was from hiring contractors, as this helped organisations to be more agile to market demands throughout 2019.

Top 3 Accounting & Finance in Commerce & Industry Roles:

• Systems Accounting• Finance Analysts• Finance Business Partners

Prominent benefits across Accounting & Finance in Commerce & Industry

With a higher level of competition for talented finance professionals than ever before, employers have been placing an increasing focus on engagement and retention of their existing workforce. An important part of this is offering flexible working arrangements, such as the opportunity to work from home and part-time offerings, so that employees can work in a way that suits their unique situation. For roles where salaries cannot be raised, the availability of flexible working and other fringe benefits, such as corporate gym memberships, are important in the eyes of professionals.

Further to flexibility and the focus on work-life balance, many employers offer study leave and sponsorship for employees who want to undertake CIMA or ACCA qualifications. As an organisation, supporting and empowering the professional development of your workforce is vital to both attraction and retention.

Whilst it isn’t a benefit as such, a pleasant working environment and a positive company culture are both hugely important nowadays. This can partly be achieved by putting an emphasis on diversity and providing channels in which employees can discuss mental health.


With the continual lack of clarity surrounding Brexit making things challenging, it is hard to predict what will happen for UK based commerce businesses in 2020, especially those who import or export products. There is a chance that hiring of interim finance professionals will increase at the mid-level, as retail organisations will need a flexible cost base and greater hiring could also occur at finance head level in order to implement cost reduction programmes. We also predict that the senior end of the market will pick up when there is greater clarity around Brexit and the flow of jobs at this level will increase towards the second half of 2020. The market is already showing some signs of movement at this level, so it would be sensible to assume this will continue.

Changes to IR35, due in April 2020, will affect contractors in the private sector if they aren’t delayed by the new government. It is important that contractors are aware of what’s happening and make a decision upon how they will be paid after the implementation. We have been asked a lot about how the changes will influence the market and whether there will be fewer temporary roles - in short, we don’t see that being the case. Given the uncertainty, the need for interim finance support will be just as important as before, however contractors will have to accept they might not be able to use their Limited Company in some assignments.

The requirement for commercially focused finance roles will continue in 2020. Given the increased level of competition, the need for more fact based information to aid decision making will also increase. Therefore, it’s natural to assume roles will continue to be in demand - businesses need to hire in order to be ahead of their competition.


TRANSACTIONAL FINANCE LONDON | PERMANENT (Annual salary)


UNITED KINGDOM - 2020 ACCOUNTING & FINANCE - COMMERCE & INDUSTRY SALARY GUIDE

2020 ACCOUNTING AND FINANCE IN COMMERCE AND INDUSTRY SALARY GUIDE

Our 2020 Accounting and Finance in Commerce and Industry Salary Guide covers remuneration and keyrecruitment trends for professionals in the Commerce sector.

LONDON

Transactional Finance - Permanent (£ Per Annum)







Bookkeeper £25,000 £30,000 £35,000


Credit Manager £30,000 £40,000 £55,000

OTC Manager £30,000 £40,000 £55,000

Part-Time Accounts £22,000 £25,000 £30,000

Payroll Manager £30,000 £40,000 £55,000

Transactional Finance - Contract (£ Per Day)








TRANSACTIONAL FINANCE LONDON | CONTRACT (£ Per Day)





LONDON








Bookkeeper £25,000 £30,000 £35,000


Credit Manager £30,000 £40,000 £55,000

OTC Manager £30,000 £40,000 £55,000


Payroll Manager £30,000 £40,000 £55,000










TRANSACTIONAL FINANCE LONDON | CONTRACT (£ Per Day)





LONDON








Bookkeeper £25,000 £30,000 £35,000


Credit Manager £30,000 £40,000 £55,000

OTC Manager £30,000 £40,000 £55,000


Payroll Manager £30,000 £40,000 £55,000













OTC Manager £200 £300 £350



SME - Permanent (£ Per Annum)







Bookkeeper £25,000 £30,000 £35,000


Credit Manager £30,000 £35,000 £45,000

OTC Manager £30,000 £35,000 £45,000


Payroll Manager £30,000 £35,000 £45,000




Head of FP&A £65,000 £80,000 £110,000




Director - Financial Reporting £80,000 £100,000 £120,000

SME LONDON | PERMANENT (Annual salary)





OTC Manager £200 £300 £350










Bookkeeper £25,000 £30,000 £35,000


Credit Manager £30,000 £35,000 £45,000

OTC Manager £30,000 £35,000 £45,000


Payroll Manager £30,000 £35,000 £45,000




Head of FP&A £65,000 £80,000 £110,000






SME LONDON | PERMANENT (Annual salary)





OTC Manager £200 £300 £350










Bookkeeper £25,000 £30,000 £35,000


Credit Manager £30,000 £35,000 £45,000

OTC Manager £30,000 £35,000 £45,000


Payroll Manager £30,000 £35,000 £45,000




Head of FP&A £65,000 £80,000 £110,000









OTC Manager £200 £300 £350










Bookkeeper £25,000 £30,000 £35,000


Credit Manager £30,000 £35,000 £45,000

OTC Manager £30,000 £35,000 £45,000


Payroll Manager £30,000 £35,000 £45,000




Head of FP&A £65,000 £80,000 £110,000








Commercial Finance Manager £50,000 £65,000 £75,000

GL Manager £45,000 £55,000 £65,000

Finance Manager £45,000 £55,000 £65,000

FP&A Manager £50,000 £65,000 £75,000


Commercial Analyst £45,000 £55,000 £65,000

Cost Accountant £45,000 £55,000 £65,000

Expense Accountant £45,000 £55,000 £65,000



£40,000 £50,000 £55,000


Fixed Assets Analyst £40,000 £50,000 £55,000


Project Accountant £40,000 £50,000 £55,000

Revenue Accountant £40,000 £50,000 £55,000


Senior Finance Analyst £50,000 £65,000 £75,000

Finance Analyst £40,000 £50,000 £55,000

Head of FP&A £65,000 £80,000 £110,000

SME - Contract (£ Per Day)







SME LONDON | CONTRACT (£ Per Day)





GL Manager £45,000 £55,000 £65,000

Finance Manager £45,000 £55,000 £65,000

FP&A Manager £50,000 £65,000 £75,000



Cost Accountant £45,000 £55,000 £65,000




£40,000 £50,000 £55,000








Finance Analyst £40,000 £50,000 £55,000

Head of FP&A £65,000 £80,000 £110,000













OTC Manager £200 £250 £275





Financial Director £500 £700 £800

Head of FP&A £400 £550 £750








GL Manager £300 £375 £450


FP&A Manager £300 £350 £450







£250 £300 £350


SME LONDON | CONTRACT (£ Per Day)





GL Manager £45,000 £55,000 £65,000

Finance Manager £45,000 £55,000 £65,000

FP&A Manager £50,000 £65,000 £75,000



Cost Accountant £45,000 £55,000 £65,000




£40,000 £50,000 £55,000








Finance Analyst £40,000 £50,000 £55,000

Head of FP&A £65,000 £80,000 £110,000













OTC Manager £200 £250 £275






Head of FP&A £400 £550 £750








GL Manager £300 £375 £450


FP&A Manager £300 £350 £450







£250 £300 £350











Head of FP&A £400 £500 £650

Large Corporate - Permanent (£ Per Annum)







Bookkeeper £25,000 £30,000 £35,000


Credit Manager £30,000 £40,000 £55,000

OTC Manager £30,000 £40,000 £55,000


Payroll Manager £30,000 £40,000 £55,000


Financial Controller / Group Financial Controller £75,000 £120,000 £150,000 +

Financial Director £100,000 £120,000 £175,000 +

Head of FP&A £75,000 £120,000 £175,000 +


LARGE CORPORATE LONDON | PERMANENT (Annual salary)











Head of FP&A £400 £500 £650








Bookkeeper £25,000 £30,000 £35,000


Credit Manager £30,000 £40,000 £55,000

OTC Manager £30,000 £40,000 £55,000


Payroll Manager £30,000 £40,000 £55,000


Financial Controller / Group Financial Controller £75,000 £120,000 £150,000 +

Financial Director £100,000 £120,000 £175,000 +

Head of FP&A £75,000 £120,000 £175,000 +



Chief Financial Officer £200,000 £250,000 £300,000 +



SSC Director £100,000 £120,000 £175,000 +




GL Manager £55,000 £65,000 £75,000

1230 Finance Manager £55,000 £65,000 £75,000

FP&A Manager £65,000 £80,000 £95,000



Cost Accountant £50,000 £55,000 £65,000




£50,000 £55,000 £65,000








Finance Analyst £50,000 £55,000 £65,000

Large Corporate - Contract (£ Per Day)


LARGE CORPORATE LONDON | CONTRACT (£ Per Day)






SSC Director £100,000 £120,000 £175,000 +




GL Manager £55,000 £65,000 £75,000

1230 Finance Manager £55,000 £65,000 £75,000

FP&A Manager £65,000 £80,000 £95,000



Cost Accountant £50,000 £55,000 £65,000




£50,000 £55,000 £65,000








Finance Analyst £50,000 £55,000 £65,000












OTC Manager £200 £300 £350




Financial Controller / Group Financial Controller £600 £800 £1,000

Financial Director £750 £900 £1,200

Head of FP&A £450 £650 £750




SSC Director £750 £800 £1,200

Director - Financial Reporting £750 £800 £1,000




GL Manager £300 £375 £450

1230 Finance Manager £350 £450 £500

FP&A Manager £350 £450 £500




LARGE CORPORATE LONDON | CONTRACT (£ Per Day)






SSC Director £100,000 £120,000 £175,000 +




GL Manager £55,000 £65,000 £75,000

1230 Finance Manager £55,000 £65,000 £75,000

FP&A Manager £65,000 £80,000 £95,000



Cost Accountant £50,000 £55,000 £65,000




£50,000 £55,000 £65,000








Finance Analyst £50,000 £55,000 £65,000












OTC Manager £200 £300 £350






Head of FP&A £450 £650 £750




SSC Director £750 £800 £1,200





GL Manager £300 £375 £450


FP&A Manager £350 £450 £500













OTC Manager £200 £300 £350






Head of FP&A £450 £650 £750




SSC Director £750 £800 £1,200





GL Manager £300 £375 £450


FP&A Manager £350 £450 £500









£275 £325 £400









FP&A Manager £350 £400 £475

HOME COUNTIES








Bookkeeper £21,000 £25,000 £30,000


Credit Manager £25,000 £30,000 £34,000

Payroll Manager £28,000 £35,000 £40,000


TRANSACTIONAL FINANCE HOME COUNTIES | PERMANENT (Annual salary)







£275 £325 £400









FP&A Manager £350 £400 £475

HOME COUNTIES








Bookkeeper £21,000 £25,000 £30,000


Credit Manager £25,000 £30,000 £34,000

Payroll Manager £28,000 £35,000 £40,000

TRANSACTIONAL FINANCE HOME COUNTIES | CONTRACT ((£ Per Hour)


Transactional Finance - Contract (£ Per Hour)














Accounts Assistant £20,000 £25,000-28,000

£30,000

Credit Manager £30,000 £45,000 £60,000



Financial Director £80,000 £90,000-100,000

£110,000

Financial Officer £90,000 £120,000 £150,000



Finance Manager £45,000 £55,000-60,000

£70,000



£40,000 £50,000 £55,000


SME HOME COUNTIES | PERMANENT (Annual salary)


Transactional Finance - Contract (£ Per Hour)














Accounts Assistant £20,000 £25,000-28,000

£30,000

Credit Manager £30,000 £45,000 £60,000



Financial Director £80,000 £90,000-100,000

£110,000

Financial Officer £90,000 £120,000 £150,000



Finance Manager £45,000 £55,000-60,000

£70,000



£40,000 £50,000 £55,000



Financial Analyst £40,000 £50,000-55,000

£60,000



PQ Finance Analyst £35,000 £45,000 £50,000







Credit Manager £120 £200 £175 - 225




Financial Officer £500 £600 £800






£300 £375 £450




PQ Finance Analyst £200 £250 £325


SME HOME COUNTIES | CONTRACT (£ Per Day)



Financial Analyst £40,000 £50,000-55,000

£60,000



PQ Finance Analyst £35,000 £45,000 £50,000







Credit Manager £120 £200 £175 - 225




Financial Officer £500 £600 £800






£300 £375 £450




PQ Finance Analyst £200 £250 £325


LARGE CORPORATE HOME COUNTIES | PERMANENT (Annual salary)





Credit Manager £40,000 £55,000 £70,000




Head of FP&A £75,000 £85,000-90,000

£100,000



Financial Planning and Analysis Manager £55,000 £65,000-75,000

£80,000


Finance Manager £52,000 £65,000 £70,000



£45,000 £55,000 £58,000



Finance Analyst £42,000 £50,000 £55,000







Head of FP&A £350 £450 £500

Chief Financial Officer £700 £900 £1,200


LARGE CORPORATE HOME COUNTIES | CONTRACT (£ Per Day)





Credit Manager £40,000 £55,000 £70,000




Head of FP&A £75,000 £85,000-90,000

£100,000



Financial Planning and Analysis Manager £55,000 £65,000-75,000

£80,000


Finance Manager £52,000 £65,000 £70,000



£45,000 £55,000 £58,000



Finance Analyst £42,000 £50,000 £55,000







Head of FP&A £350 £450 £500











£325 £400 £475




SOUTH WEST

Commerce & Industry - Permanent (£ Per Annum)







Bookkeeper £22,000 £25,000 £28,000


Credit Manager £30,000 £35,000 £40,000

Payroll Manager £35,000 £45,000 £55,000




Head of FP&A £65,000 £70,000 £80,000


COMMERCE & INDUSTRY SOUTH WEST | PERMANENT (Annual salary)










£325 £400 £475




SOUTH WEST

Commerce & Industry - Permanent (£ Per Annum)







Bookkeeper £22,000 £25,000 £28,000


Credit Manager £30,000 £35,000 £40,000

Payroll Manager £35,000 £45,000 £55,000




Head of FP&A £65,000 £70,000 £80,000






SSC Director £80,000 £90,000 £100,000



Head of Tax £65,000 £70,000 £80,000

Finance Manager £45,000 £50,000 £55,000

Tax Manager £50,000 £55,000 £60,000


Cost Accountant £35,000 £40,000 £45,000



£40,000 £45,000 £50,000






Commerce & Industry - Contract (£ Per Day)







Head of FP&A £600 £700 £800


COMMERCE & INDUSTRY SOUTH WEST | CONTRACT (£ Per Day)






SSC Director £80,000 £90,000 £100,000



Head of Tax £65,000 £70,000 £80,000

Finance Manager £45,000 £50,000 £55,000

Tax Manager £50,000 £55,000 £60,000


Cost Accountant £35,000 £40,000 £45,000



£40,000 £45,000 £50,000






Commerce & Industry - Contract (£ Per Day)







Head of FP&A £600 £700 £800












£250 £300 £350






Overview of Accounting & Finance in Commerce & Industry recruitment

2019 was an interesting year for the hiring of finance professionals into Commerce and Industry. The yearstarted strongly in terms of recruitment, before the predicted drop off in March/April, whilst Q2 waschallenging due to the delay of Brexit and many roles were shelved. Matters improved in June ascompanies tweaked business plans in order to react to the market and the usually quiet summer monthsproved fruitful, with recruitment continuing - particularly around finance projects. The year finished on apositive note, as many businesses hired resources which meant they started 2020 in the strongestpossible position.

There were a lot of newsworthy items throughout the year that impacted the finance recruitment market,but the businesses that remained adaptable to the constant changes and challenges were the mostsuccessful. Part of this was from hiring contractors, as this helped organisations to be more agile to marketdemands throughout 2019.

Top 3 Accounting & Finance in Commerce & Industry Roles:

Systems AccountingFinance AnalystsFinance Business Partners

OVERVIEW OF ACCOUNTING & FINANCE INVESTMENT MANAGEMENT RECRUITMENT

In a year that was rife with uncertainty for many other disciplines and sectors, the recruitment of Accounting and Finance professionals into Investment Management really flourished throughout 2019. The level of recruitment remained consistent for the duration of the year, with the number of jobs coming to the market staying remarkably stable month-on-month, without the usual peaks and troughs that come as the year progresses. The key areas of growth responsible for this consistent level of recruitment were within the alternatives space, with the areas of private equity, real estate and debt investments at the forefront of this.

We had a record number of senior mandates throughout the year, with all roles based in London. The fact that numerous senior roles have remained in London, amid Brexit and all the other political uncertainty, is enormously encouraging to say the least. From this, as they have weathered the storm of a tumultuous year, we are now confident that these types of role will remain in the City for the foreseeable future. Despite all the predictions made surrounding a small percentage of the more senior roles being offshored to Europe, it is pleasing for not only the Investment Management space, but also for financial services in London as a whole.

Top 3 Accounting & Finance Investment Management roles

• Head of Finance• Deputy CFO• Financial Controller/Senior Finance Manager

Prominent benefits across Accounting & Finance Investment Management

Flexible working arrangements continue to be rolled out by an increasing number of organisations. This shifting attitude is even being seen at employers where agile working was historically not allowed or encouraged - flexibility in the workplace is not a passing trend, it is here to stay. By its nature, finance is a cyclical function and employees can often find themselves working extended hours at certain times of the year. With this in mind, flexible working patterns are hugely beneficial as they can help to ensure staff are able to establish a better balance.

Flexibility is not the only focus for those employers who are looking to improve the wellbeing of their workforce. Other prominent initiatives offered have included:

• Subsidised gym memberships• Free health checks and access to onsite medical

facilities• Breakfast and lunch provided• Availability of volunteering/CSR days for all

employees


We anticipate 2020 will be largely similar to 2019, with steady growth across the Investment Management space and the continued specific focus on alternative funds in particular. From speaking to clients across the space on a daily basis, we are not expecting any more offshoring of finance roles to European locations - which was the danger for 2019, but ended up being minimal anyway.

There couldn’t be a better time to be a qualified accountant working in the Investment Management space; there are plenty of opportunities for individuals at all levels. Despite the fact that there is widespread political and economic uncertainty across the UK, Investment Management firms in London have been making, and will continue to make, multiple new hires - and this is hugely encouraging for the year to come.

ACCOUNTING & FINANCE - INVESTMENT MANAGEMENT


PRIVATE EQUITY FINANCE RECRUITMENT | PERMANENT (Annual salary)


UNITED KINGDOM - 2020 ACCOUNTING & FINANCE - INVESTMENT MANAGEMENT SALARYGUIDE

2020 ACCOUNTING AND FINANCE INVESTMENT MANAGEMENT SALARY GUIDE

Our 2020 Accounting & Finance Investment Management Salary Guide outlines remuneration and keyrecruitment trends for professionals in Investment Management.

PERMANENT

Investment Management, Private Equity Finance Recruitment (£ Per Annum)






Payroll Manager £40,000 £45,000 £50,000




Head of FP&A £100,000 £110,000 £130,000







Finance Manager £65,000 £70,000 £75,000

Cost Accountant £40,000 £50,000 £55,000




PRIVATE EQUITY FINANCE RECRUITMENT | PERMANENT (Annual salary)


UNITED KINGDOM - 2020 ACCOUNTING & FINANCE - INVESTMENT MANAGEMENT SALARYGUIDE

2020 ACCOUNTING AND FINANCE INVESTMENT MANAGEMENT SALARY GUIDE

Our 2020 Accounting & Finance Investment Management Salary Guide outlines remuneration and keyrecruitment trends for professionals in Investment Management.

PERMANENT

Investment Management, Private Equity Finance Recruitment (£ Per Annum)






Payroll Manager £40,000 £45,000 £50,000




Head of FP&A £100,000 £110,000 £130,000







Finance Manager £65,000 £70,000 £75,000

Cost Accountant £40,000 £50,000 £55,000






£50,000 £55,000 £70,000


Fund Accountant £40,000 £55,000 £70,000







CONTRACT

Investment Management, Private Equity Finance Recruitment (£ Per Day)










Head of FP&A £500 £550 £650






PRIVATE EQUITY FINANCE RECRUITMENT | CONTRACT (£ Per Day)




£50,000 £55,000 £70,000


Fund Accountant £40,000 £55,000 £70,000







CONTRACT











Head of FP&A £500 £550 £650







PRIVATE EQUITY FINANCE RECRUITMENT | CONTRACT (£ Per Day)




£50,000 £55,000 £70,000


Fund Accountant £40,000 £55,000 £70,000







CONTRACT











Head of FP&A £500 £550 £650













£250 £275 £300









Overview of Accounting & Finance Investment Management recruitment

In a year that was rife with uncertainty for many other disciplines and sectors, the recruitment ofAccounting and Finance professionals into Investment Management really flourished throughout 2019. Thelevel of recruitment remained consistent for the duration of the year, with the number of jobs coming tothe market staying remarkably stable month-on-month, without the usual peaks and troughs that come asthe year progresses. The key areas of growth responsible for this consistent level of recruitment werewithin the alternatives space, with the areas of private equity, real estate and debt investments atthe forefront of this.

We had a record number of senior mandates throughout the year, with all roles based in London. The factthat numerous senior roles have remained in London, amid Brexit and all the other political uncertainty, isenormously encouraging to say the least. From this, as they have weathered the storm of a tumultuousyear, we are now confident that these types of role will remain in the City for the foreseeable future.Despite all the predictions made surrounding a small percentage of the more senior roles being offshoredto Europe, it is pleasing for not only the Investment Management space, but also for financial services inLondon as a whole.

Top 3 Accounting & Finance Investment Management roles

Head of FinanceDeputy CFOFinancial Controller/Senior Finance Manager




£50,000 £55,000 £70,000


Fund Accountant £40,000 £55,000 £70,000







CONTRACT











Head of FP&A £500 £550 £650






OUR LOCATIONS

LONDON | 61 Aldwych, London WC2B 4AE

T: +44 20 7092 0000 | E: [email protected]

BRISTOL | 4th Floor, Spectrum Building, Bond Street, Bristol BS1 3LG


SUSSEX | 4 Peveril Court, 6-8 London Road, West Sussex RH10 8JE


SURREY | 1 Milkhouse Gate, Guildford, Surrey GU1 3EZ


THAMES VALLEY | Vandervell House, Vanwall Business Park

Maidenhead, Berkshire SL6 4UB


morganmckinley.co.uk

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