Derivatives knowledge brings a premium
The specialised field is still relatively new to Edinburgh, says Neil Campbell, a consultant with Scots recruitment firm Change crs.
As a result, he says funds are prepared to pay 10% -15% extra to lure the right talent: "Salaries are higher because there is a lack of supply of such experienced individuals.
Change is currently seeking a fund accounting manager (derivatives) for an unamed Edinburgh-based global investment company. Campbell says the post will not automatically attract a Londoner, "but perhaps a Scot who has gained experience elsewhere and wants to return."
Joanna Black, a partner at Edinburgh and London based Black Appointments Executive Search, confirms that derivatives expertise attracts a premium, but says skills are needed in the back office, rather than by Scotland's front office money management community.
"The salary is higher because there are less people here in Scotland that are doing this specialised work," she says. "It has to be higher if you are aiming to attract someone out of London who is already on a higher salary."
