Financial services pay 'is on the rise'

The rate of pay for financial services staff has risen considerably in 2010, particularly over the summer, new figures have suggested.

According to statistics from Astbury Marsden, junior staff have benefitted the most in recent months, with some employees seeing their wages rise by as much as 20 per cent.

Jonathan Nicholson, managing director at Astbury Marsden, said that junior financial services staff are catching up with seniors as companies begin to accelerate out of the recession and reward workers with pay rises reflecting their efforts.

"Up to now the big jumps in pay created by the recovery have gone to the more senior staff," he noted.

A recent survey among financial services firms carried out by Reed showed that demand for new staff remained steady among most companies in August and even increased in some organisations, despite the summer usually being a quiet time for recruitment in the sector.

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Posted by John Oak
 

Filed: 14-09-2010