Crazy about credit analysts
"We have over a dozen vacancies. Dozens of banks and financial services operations are hiring at the moment," says Alan Bluett, banking and financial services recruitment manager at The Panel.
Anglo Irish Bank recently announced that its lending activity surged by 18% for the six months until the end of March. It currently has a number of vacancies in its lending department. "We're constantly looking for strong, talented people," a spokeswoman says, declining to elaborate on salary or bonus levels (unfortunately).
"Demand is being driven by increased lending activity in both the corporate and the personal market and new regulations being brought on board by some of the lending institutions. We've noticed a definite increase in demand for credit analysts," says Kate Casey, banking and financial services manager at Gilligan Black.
"The majority of companies are expanding and as a result there are outright shortages of experienced candidates in some areas, credit analysis being one," says Bluett. Attracted by the low corporate tax rate, the strong pool of experienced and well-qualified staff and the robust regulatory environment, new entrants in the market include Guggenheim Partners, Elavon and Wachovia in the corporate lending sector, he adds.
What about pay? A credit analyst with five to seven years' experience could earn up to €80k basic at the very top level. The bonus depends on the sector you work in. In retail banking the bonus can range from 10% to 20% while Bluett says that in specialised areas such as leveraged finance, bonuses can be up to 100% of basic.
