12 jobs with the highest increase in pay in 2016
Bankers? Techies? Consultants? Who has seen their salary increase the most in 2016?
With banks getting further into the financial technology space and competing with technology firms, new global operations and a constant transformation of the economic landscape, compensation has been affected in each field.
We have analysed 15,691 entries in London for 2015 and 2016 to provide an overview of the global trends. We found that competition for skilled Digital Marketing employees has resulted in Managers making 37% more. Unexpectedly (but justifiably), Human Resources and Research employees make it to our list for 2016. IT salaries continue to rise.
| Activity | Title | Total Comp 2015 | Total Comp 2016 | Increase |
|---|---|---|---|---|
| Marketing & Communications | Manager | £ 51,000 | £ 70,000 | 37% |
| Corporate Banking | Associate | £ 60,000 | £ 82,000 | 37% |
| Human Resources | Manager | £ 61,000 | £ 80,000 | 31% |
| Business Development | Senior Manager | £ 104,000 | £ 136,000 | 31% |
| C# Developer | Developer | £ 44,000 | £ 54,000 | 23% |
| Research (Buy-Side) | VP | £ 37,000 | £ 45,000 | 22% |
| Programme & Project Management | Senior Manager | £ 93,000 | £ 110,000 | 18% |
| Trading (Banking) | VP | £ 160,000 | £ 189,000 | 18% |
| Fund & Portfolio Managers (Buy-Side) | VP | £ 113,000 | £ 133,000 | 18% |
| Research (Banking) | VP | £ 150,000 | £ 168,000 | 12% |
| Java Developer | Developer | £ 52,000 | £ 58,000 | 12% |
| Finance Control & Strategy | Manager | £ 76,000 | £ 82,000 | 8% |
Let's Get Digital
Marketing & Communications come first in our list with a staggering increase of 37% to their total compensation which reflects an ever-increasing demand for talent and experienced managers.
HR to the rescue
With intense innovating and disrupting activity in the HR sectors, companies find themselves expanding their HR departments and demanding new skills such as managing applications, data outputs from real-time gathering tools. HR managers are expanding their skill sets and are in high demand to help companies adapt their culture and management style to millennials and Gen Y.
Always do your research
Research employees both in Banking and the Financial Buy-Side have seen their remuneration increase this year by 12% and 22% respectively. Banks and Funds seeking to beat competition by innovative investments, make research more relevant than ever while the sell-side need to back their trading decisions and macro views with solid research papers.
The case of IT
Technology firms competing with Banks for the top talent in IT are pushing remuneration up. The 12% increase in total compensation for Java developers might seem way below the 23% increase for C# developers. Java developers however were already enjoying high rewards compared to their C# colleagues who are now catching up!
Have you got IT?
Despite high-delta remuneration, finance jobs are not topping our table. Instead, professionals in sectors emerging as game changers such as IT and Digital Marketing are hot property and those with some experience command fast-increasing pay packages. With the financial sector making a huge push to develop their Fintech services, we expect to see IT climb even faster in the coming years.
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