Global Roundup: London Banks Hike IT Salaries 20 - 30 Percent
While bonuses for the humble techie could never rival those of their front office counterparts, IT workers have not been excluded from the trend of raising base salaries in lieu of cash-based variable compensation. Many banks have hiked salaries by 20 - 30 percent, according to various IT executive search firms.
Just 46 percent of those taking the Chartered Financial Analyst level III exam this year passed - the lowest success rate ever.
Signs of Life in Gulf Project Finance Recruitment [Middle East]
After a roller-coaster ride over the last two years, evidence of the much-anticipated growth in the Middle East project finance market has emerged in the first half of this year. International banks are beginning to recruit as a result.
Far from taking a cautious approach to recruitment, asset managers enthusiastically added headcount during the second quarter, with vacancies matching those last seen in the halcyon days of early 2008 and a growing proportion involve front-office responsibilities, says recruiting firm Robert Walters.
Despite a rash of securitization hires this year by the likes of Deutsche Bank, UBS, Morgan Stanley and JPMorgan, recruiters say activity in the sector amounts to a "few senior hires" which are "few and far between."
Many Australian financial services professionals are once again looking for jobs overseas. London remains the destination of choice, but with Asia leading the employment market recovery, Singapore and Hong Kong are catching up quickly.
Is Investment Banking Currently Beyond Emiratis? [Middle East]
In the UAE, banks' much-touted efforts to recruit locals remain limited to retail or corporate banking positions, and investment banking in the region remains largely the preserve of expatriates.
Priority, privilege, preferred (we'll use the former): whatever you call them, these bankers are in high demand and short supply as local and international firms target the rising wealth of Asia's middle classes. Banks are battling with each other for staff and when that doesn't work, they sometimes even search outside the financial sector.