Demand for specialist skills remains high in 2016.
Demand for specialist skills in investment banks remains high. In particular, Chartered Accountants with CFA or additional postgraduate qualifications are sought after.
Subject matter experts in banking risk, compliance and anti-money-laundering will also be in short supply in 2016 as regulatory pressure continues.
Organisations should place emphasis on offering clear career paths in order to secure the best professionals. Specialists rather than generalists will be in highest demand in 2016.
Private Banking Executive (3 yrs' exp) - The increase in average salary is mostly due to increase in demand for ‘experienced’ private bankers. Greater emphasis on experience in the field has been evident across the majority of the Private Banks. Previously the PB’s would recruit qualified professionals with general 2-3 yrs experience. Not necessarily PB experience. There was much churn in this skill category in 2015 which also pushes up salaries for job movers.
Management Accountant CIMA + Training (3 - 4 yrs’ exp) - An increase in demand for the CIMA qualification and specifically the analysis aspect of the skill set has seen a rise in salaries and internal reward offered. This category also includes positions such as MI, BI and Performance Analyst. The need for qualified and easily interpreted information from business is in high demand.
Compliance Global Markets (8+ yrs' exp) - This category has had high demand for a while and perhaps only really shows in the remuneration this last year. Again speaks to the need for specialist skills in the banks - global markets product, culture and structure knowledge accompanied by the compliance skill set is in particular need.
2016 Salary Update:
- Specialists rather than generalists will be in highest demand in 2016.
- Organisations should place emphasis on offering clear career paths in order to secure the best professionals.
- Employment Equity candidates will remain in high demand.
- Organisations will look to hire experienced professionals with local knowledge.