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Market Overview and Salary Survey

Market Overview and Salary Survey

Currently there are three key trends affecting the labour market in the banking sector.
The first and most global trend is the financial instability in Europe caused by the debt crisis. Western banks integrated into the global financial system are obliged to reduce costs and are not ready to allocate money for development and recruitment. It is worth mentioning that many of the experts, who had previously worked in the European offices of foreign banks, are now actively considering job offers in countries with developing economies, including Russia.
The second stable trend that has lately swept the Russian banking sector is the consolidation of assets and merging of the market players. M&A deals are taking place in the banking sector and as a result, staff are being released. However, it’s impossible to assert that there is an overabundance of professionals in the industry and that the lack of specialists isn’t felt in the market. Thus a candidate who has the required skills and experience can expect a quick placement.
Strong demand for financial services in the domestic market is the third significant trend. Retail lending, microcredit, payment services, leasing and insurance are on the rise and are actively developing, creating a strong need for specialists.
“The most in demand specialists are the startup managers, who supervise projects in the field of financial services. The ideal candidate should have a business oriented way of thinking, understand financial management, be a good methodologist and possess charisma. This collection of very specific requirements determines the shortage of professionals in this sector,” says Tatiana Bartyuk, Manager of Banking Recruitment at Antal Russia.
The level of salaries in the sector has not undergone any significant changes.

Experts anticipate that labour market activity in the investment banking industry may increase due to the upcoming second wave of privatisation. Moreover, there have been personnel reshuffles at the level of senior management during this year. “Employers are mainly interested in professionals with the skills of financial modeling and deep knowledge of financial analysis. The most in demand are project managers, specialising in business development, mergers and restructuring of certain units, as well as M&A experts,” says Daria Arhincheeva, Senior Consultant in Banking Recruitment at Antal Russia.
There has not been a significant increase in the level of salaries in the investment banking industry in comparison with last year.
Obviously candidates have started to take a balanced approach to the job rotation issue. One attractive offer from a potential employer is not enough to entice a specialist. When deciding on the transfer to another job, applicants are guided not only by material incentive, but they also keep in mind any advice recommending the prospective employer.

Top Demanded Professionals in Banking

Head of E-Commerce

Treasury Operations Manager

Start-up Manager (Financial Services)

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