fast publishes 2010 Luxembourg Salary Survey
fast publishes 2010 Luxembourg Salary Survey..News..News
fast, the Luxembourg-based recruitment and training company, are pleased to announce the release of the annual Salary Survey, that gives an overview of salaries in the financial sector in Luxembourg.
The survey reveals broadly positive, despite a tough year in 2009, the global economic situation has improved rapidly. Luxembourg is expected to register a growth in GDP of 3% for 2010 and 2011. The financial sector in Luxembourg has proved to be highly resilient during the financial crisis, an example of this is the net fund assets under management increasing by an annual rate of 18% in July 2010. This expected growth in the Luxembourg economy and especially in the financial services sector is very good news for the job market.
Created in 1999 by financial services experts, fast has grown significantly over the past eleven years and has become recognised as one of the most dynamic and focused recruitment and training companies serving Luxembourgs financial services sector. fast compiles information for the Salary Survey from a variety of sources, including its own database.
The fast Survey identifies eleven different specialisms from within the financial spectrum and subdivides them into three ranks of seniority: non-supervisory, team leader and manager. The length of time in the job fewer or more than 3 years is also taken into consideration.
This is the fast Salary Survey headline data broken down by specialism:
Business Analysis/ Project Management - salaries slightly up on last year, however a slight decrease for Managers
Client services across the board slight decrease on last year
Finance across the board modest increase over last year
Fund Administration some high increases for managers
HR and Training broadly static
Legal and Compliance across the board slight decrease for managers, team leaers
Office Administration slight rises for junior workers, others static
Private Banking/ Fund Mgmt mostly static compared with last year
Risk Management static
Security & Cash Administration some rises for junior workers, others static
Of all the specialisms monitored, those involved with legal and compliance work notched up the greatest overall salary increases over the last year a reflection of the fact that keeping up with constantly changing regulation across all jurisdictions continues to be a priority for the industry.
Commenting on the publication of the 2010 Salary Survey, fast Director, Anita De viell said:
Compiling this information is important to fast because it helps us to keep our fingers on the pulse of what companies need to pay to attract the highest calibre workers and, equally, of what workers with different specialisms should be expecting in terms of salary.