Software specialists hard to find

Derivatives skills may be hot, but skills around third-party derivatives processing systems are hottest.

Specialists in derivatives systems from Calypso Technology, Murex and Summit Systems are in big demand and small supply, say recruiters.

Edward Ekins, senior consultant of business development at McGregor Boyall, says specialist software experience may mean a salary increase of as much as 20k if a candidate, such as a senior Java developer, has a strong skill set alongside experience with the desired system.

"Some of our clients scream out for Calypso experience and hardcore Java skills," Ekins says. "From a recruiting perspective, this is difficult.

"Senior candidates have to have [system expertise] where the transferable skills are not quite good enough," says Ekins.

For junior roles, candidates must have a good understanding of the business, credit derivatives, and experience with Java and derivatives software.

Customer service skills are also essential for some roles, adds Rob Lycett, a consultant with recruitment firm Astbury Marsden. "Good relationship building and good communication skills are key because some positions require that they manage accounts, fix problems - it is very much a customer-focused role."

The shortage of systems experts in London means some firms are looking to attract experienced Murex candidates from France, says Lycett. Candidates who fit the bill can reportedly command salaries around 80k to 90k, depending upon the role.