The five key skills that will set you apart from the competition

In a depressed job market you need to know what employers are looking for, and develop the skills to set you apart from the competition. In Scotland’s financial services industry, these are evolving – how can you stay ahead of the pack?

Based on conversations with specialist financial services recruiters, here’s what we believe are the top five skills in demand currently.

1. Risk analysts in investment banks and fund management houses

"Demand spiked 17% in the last quarter to July. The shortage in Scotland means many jobs are being taken by experienced people moving up from London or PhDs straight from university," says Andrew Welsh,  associate director, financial services at Change Recruitment Group, Edinburgh and Glasgow.

Pay: £25-30k straight from university, £40-80k with experience.

2. Change management professionals with experience in fund management

Big fund houses are launching new products and getting into new markets, but permanent candidates with change management experience are in short supply, with many preferring to stay in more lucrative contracting positions.

Demand for business analysts and project managers is up 18%, according to Welsh. Currently there are many London contractors in Scotland, so permanent candidates with fund management sector experience could be welcomed by employers eager to save on contractor's fees.

Pay: Business analysts: £80k; Project managers: £50-70k.

3. Fund accountants with reporting and NAV experience

Investment operation firms in both Glasgow and Edinburgh are struggling to find fund accountant. "Big Four employees with reporting experience could swap in, especially if they have been auditing funds," says Welsh.

Pay: Reporting: £30-40k with one to two years post-qualification experience; NAV valuation: £20-35k for people at administrator or senior administrator level.

4. FS marketing specialists such as RPF/tender writers and product managers:

Expansion and post-restructuring by life companies and banks led to a 27% uplift in permanent hiring, according to Change’s figures.

"Investment writing experience is essential but sometimes fund managers can swap into these kinds of roles," says Welsh.

Core-Asset Consulting in Edinburgh says it has also seen a gradual increase in marketing and sales roles.

Pay: £30-45k

5. Technology (especially)

With both fund managers hiring technologists and large development centres from major investment banks based north of the border, IT is the “most in-demand” sector, according to Jon Goss, consultant at recruiter Bright Purple in Edinburgh.

In particular, firms are looking for developers with .Net, C++, C#, Java, HTML or CSS skills. He also sees demand for applications-focussed solutions architects, IT project managers, IT business analysts and SAS analysts.

Demand is so strong that many employers are fast-tracking recruitment to beat their competitors, with good candidates being offered jobs after only one interview rather than two to three.

Pay: Developer: £25-40k; solutions architects: £50-60k; IT project managers: £45-55k; IT business analysts: £35-45k.