Pay for investment banking techies has plateaued

Demand for technologists within investment banking remains robust, but - despite a relative shortage of candidates - firms are no longer offering pay rises.

After a sterling first half for IT in finance recruitment, base salaries in the sector swelled by an average of 25-40% during the second quarter, according to recruiters JM Group.

Unfortunately, overriding concerns about group profitability have meant that banks are now unwilling to shell out for techies despite the difficulty they face recruiting them, suggests Darrell Cameron-Webb, head of investment banking at the JM Group in its latest quarterly salary survey.

"It would appear that the market is taking a breather on rates at present, although we suspect that unless demand decreases there will probably be further upwards pressure in the early stages of next year, after the various bonus rounds," he says.

Here's what the JM Group says various investment banking IT roles are currently paying (base only):

Source: The JM Group