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Your guide to average UK financial services salaries 2021

We have compiled everything you need to know about the average financial services salaries for 2021, helping you benchmark your salary, whether you’re negotiating your pay or advancing your career.

 

The investment and wealth management industry has experienced rapid change in the past year. Brexit, the pandemic, changes in investor behaviour, regulatory demands and technological advancement have all created challenges, opportunities and complexities that have echoed throughout the hiring market. Many organisations recognise that talented and highly skilled employees are going to be the solution to the challenges ahead and have enhanced their recruitment strategies in a race to secure permanent positions and highly-qualified contingent staff.

 

While employers still report challenges in finding staff to fill niche roles, movement exists with more opportunities appearing. As companies struggle to retain staff at this critical time, candidates who demonstrate their value, market knowledge and experience will find themselves in an advantageous position when negotiating their salary.

 

Find out what employers are currently experiencing and how this is impacting base salary offerings in our 2021 Salary Survey. Knowing what is currently influencing employers’ decisions as well as market rates will help you assess your professional worth, negotiate better and get a better starting salary.

 

While job prospects are strong in the financial services market, there is still a lot of movement as people look to advance their careers. This often creates greater competition for individual roles, if you would like further assistance in your job search, please get in touch as we would be happy to discuss your career.

Administrator

Due to a shortage of technically proficient people in more senior roles, salaries are increasing for finance administrators, including financial planning, administration managers and IFAs.

 

Paraplanner

Paraplanner salaries are increasing on average and professionals with a level 4-diploma are seeing even higher salary increases. There is a higher demand for paraplanners with experience managing and hiring staff, making salaries competitive.

 

Financial Advisers

Due to a talent shortage of qualified IFAs, salaries are increasing across the UK and even in London.

 

 

Financial Planning Analyst

As companies seek to enhance financial performance through the analysis of financial results, forecasts, variances and trends, increased demand has caused financial planning analyst salaries to increase.

 

IFA Sales Manager

London-based IFA sales managers are seeing higher salaries, as much as 30-35% higher than the rest of the UK.

 

Pensions

Pension administrator salaries are increasing for a number of reasons as companies seek the talent they need to enhance their technology, requiring even more strategic insight.

 

Employee Benefits Administrator

Employee benefits administrator salaries are increasing and as roles become more complex, candidates with deep knowledge, experience and technical capabilities are seeing the highest pay increases.

 

Mortgage Finance

Digital innovations and ongoing regulatory change in the industry has led to a rising demand for skilled mortgage administrators and brokers. This talent shortage has caused salaries to increase year-on-year.

 

Compliance

Ongoing regulatory changes are creating an increasing demand for compliance professionals who expect higher salaries due to the personal responsibility stipulations under the Senior Managers Compliance Regime (SMCR) to offset the amount of risk they undertake.

 

Learning and Development

Salaries within learning and development, compliance and wider business-wide training initiatives have remained steady.

 

 

Find out your worth

Download our 2021 salary survey data

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