Junior developers and business analysts among the jobs seeing increased demand in a digital era
With an uncertain geopolitical and economic landscape on the horizon for 2018, businesses are shifting their focus and hiring practices to survive in an aggressive market. The Robert Half 2018 Salary Guide has revealed that junior developers, senior business analysts and fund accountants are all in line to receive the largest salary hikes in the coming year.
The top 10 roles set to see the biggest salary gains next year are:
- Junior developer – 4.5%
£19,750 – £32,000
Responsible for developing high performing applications through agile methodologies, support and maintenance, salaries for junior developers are increasing at a rate reflective of the skills deficit in the marketplace. The role has gone from eighth place in 2017 to one of the key requirements for businesses in 2018.
- Senior business analyst – 4.4%
£46,000 – £72,500
As digitisation transforms organisations, experienced business analysts are in high demand. Analysts will be required to assess business models and establish how they can be integrated with technology. The ability to understand and map existing processes and practices, while determining opportunities for automation will be key to the evolution of businesses.
- Fund accountant (NQ – 3 years’ PQE) – 4.2%
£52,500 – £65,750
The accuracy of a fund accountant is hugely important in financial services. There is a strong demand for newly-qualified accountants with up to three years of experience who can assume responsibility for the maintenance of financial records in investment funds and ensure that investors share the gains or losses equitably.
- Chief financial officer/Group finance director for a small or medium enterprise – 4.0%
£86,500 – £100,000+
The traditional chief financial officer (CFO) job description is transforming to encompass a more strategic role that balances financial responsibilities with a capacity to influence corporate strategy and drive business change. Going into 2018, the CFO role will become more closely aligned with the chief executive officer job description, with a focus on increasing profitability and driving overall growth.
- Financial controller for a small or medium enterprise – 4.0%
£44,500 – £54,000
Working closely with senior stakeholders and board members, these qualified accountancy professionals act as business partners to support the revenue growth of an organisation. Using their expertise in management accounting and financial analysis they are able to assume responsibility for various elements of the finance function from preparing management accounts to delivering budgets, forecasts and developing internal controls.
- Data analyst – 3.8%
£24,500 – £58,500
As automation becomes increasingly commonplace within organisations, the data analyst role is becoming more sought after, particularly with the introduction of the EU’s General Data Protection Regulation (GDPR) in May 2018. The data analyst is responsible for managing an organisation’s technical data in a way that is meaningful to business decision makers, making it a strong career choice for candidates who combine analytics skills with commercial acumen. With the introduction of GDPR, there will be further demand for those who can combine a knowledge of analytics with regulation and compliance, communication skills and attention to detail.
- Systems administrator – 3.7%
£29,750 – £46,750
Systems administrators require strong problem-solving, analytical and communication skills coupled with in-depth technical knowledge of hardware and software to keep IT systems running smoothly. The need for professionals in this position is one reason CIOs are expanding their teams.
- Developer lead – 3.7%
£47,500 – £79,000
Businesses need strong leadership for their growing IT development teams. Demand for junior developers is also increasing the need for both senior developers and lead applications developers. Companies require the lead to direct the development team in the design, development, coding, testing and debugging of applications. The role also requires softer skills including the ability to communicate and mentor team members while collaborating with the wider business functions.
- HR business partner – 3.7%
£33,250 – £51,500
A rigorous change in the way technology is being applied to HR is impacting businesses and their on-boarding process. HR business partners will work closely with business leaders to ensure that existing staff have the capabilities and skills to meet new business challenges in the digital world. The introduction of GDPR they will also be required to be change agents in collaboration with other parts of the business to ensure employee’s data is processed and used throughout the organisation within the regulations.
- Network engineer – 3.6%
£31,500 – £47,250
Network engineers must be detail-oriented and have in-depth knowledge of networking hardware and software. A bachelor’s degree in computer science or electrical engineering and five or more years of experience in areas such as network design and implementation, security and server or network infrastructure is necessary. There is also a demand for engineers who can focus on network design in new cloud environments.
“The shifting emphasis on certain job roles is a clear indication of a changing tide. Technology is increasingly infiltrating businesses and is having a fundamental impact on hiring practices,” explained Phil Sheridan, Senior Managing Director, United Kingdom, South America and the Middle East, Robert Half. “For those roles that weren’t on the list last year, the increase in salaries illustrates both the shift organisation’s are taking to compete in a digital world and the skills required to make them a success. All companies need to be aware of the roles where staff can expect to earn a premium and ensure they are regularly benchmarking salaries to remain competitive in the war for talent.”
Siemens Healthineers gains EU nod for $16.4 billion Varian buy
BRUSSELS (Reuters) – EU antitrust regulators on Friday cleared with conditions Siemens Healthineers’ $16.4 billion acquisition of U.S. peer Varian, paving the way for the German health group to become a world leader in cancer care therapy.
The European Commission said Siemens Healthineers pledged to ensure that its medical imaging and radiotherapy equipment will work with rivals in return for its approval, confirming a Reuters story. The pledge is valid for 10 years.
“High quality medical imaging and radiotherapy solutions are crucial to diagnose and treat cancer. The efficiency and safety of treatment relies on the ability of these products to work together,” European Competition Commissioner Margrethe Vestager said in a statement.
Varian is the leader in radiation therapy with a market share of more than 50%. The deal received the U.S. antitrust green light in October last year.
(Reporting by Foo Yun Chee)
Battling Covid collateral damage, Renault says 2021 will be volatile
By Gilles Guillaume
PARIS (Reuters) – Renault said on Friday it is still fighting the lingering effects of the COVID-19 pandemic, including a shortage of semiconductor chips, that could make for another rough year for the French carmaker.
Renault reported an 8 billion euro ($9.7 billion) loss for 2020 which, combined with gloomy take on the market, sent its shares down more than 5% in late morning trading.
“We are in the midst of a battle to try to manage a difficult year in terms of supply chains, of components,” Chief Executive Luca de Meo told reporters. “This is all the collateral damage of the Covid pandemic… we will have a fairly volatile year.”
De Meo, who took over last July, is looking at ways to boost profitability and sales at Renault while pushing ahead with cost cuts. There were early signs of improving momentum as margins inched up in the second half of 2020.
The group gave no financial guidance for this year, although it said it might reach a target of achieving 2 billion euros in costs cuts by 2023 ahead of time, possibly by December.
Executives said they were confident the carmaker could be profitable in the second half of 2021, but that they lacked sufficient market visibility to provide a forecast.
Renault struck a cautious note, saying it was focused on its recovery but warned orders had faltered in early 2021 as pandemic restrictions continued in some countries.
The group is facing new challenges as the European Union tightens emissions regulations and after rivals PSA and Fiat Chrysler joined forces to create Stellantis, the world’s fourth-biggest automaker.
The auto industry endured a tough 2020 but a swift rebound in premium car sales in China helped companies such as Volkswagen and Daimler to weather the storm.
Auto companies globally have since been hit by a shortage of semiconductors that has forced production cuts worldwide.
“The beginning of the year has shown some signs of weakness,” De Meo told analysts, but added the chip shortage should be resolved by the second half of 2021. “We have taken the necessary measures to anticipate and overcome challenges.”
Renault estimated the chip shortage could reduce its production by about 100,000 vehicles this year.
The group was already loss-making in 2019, but took a sharp hit in 2020 during lockdowns to fight the pandemic, which also hurt its Japanese partner Nissan.
Analysts polled by Refinitiv had expected a 7.4 billion euro loss for 2020. The group posted negative free cash flow for 2020.
The 2018 arrest of Carlos Ghosn, who formerly lead the alliance between Renault and Nissan, plunged the automakers into turmoil.
In a further sign that the companies have been working to repair the alliance, De Meo told journalists that Renault and Nissan will announce new joint products together in the coming weeks or months.
Renault has begun to raise prices on some car models, and group operating profit, which was negative for 2020 as a whole, improved in the last six months of the year, reaching 866 million euros or 3.5% of revenue.
Analysts at Jefferies said the operating performance was better than expected. Sales were still falling in the second half, but less sharply.
Renault is slashing jobs and trimming its range of cars, allowing it to slice spending in areas like research and development as it focuses on redressing its finances. It is also pivoting more towards electric cars as part of its revamp.
It was already struggling more than some rivals with sliding sales before the pandemic, after years of a vast expansion drive it is now trying to rein in, focusing on profitable markets.
De Meo told journalists on Friday that the French carmaker will make three new higher-margin models at its Palencia plant in Spain, where manufacturing costs are lower, between 2022 and 2024.
($1 = 0.8269 euros)
(Reporting by Gilles Guillaume and Sarah White in Paris, Nick Carey in London; Editing by Christopher Cushing, David Evans and Jan Harvey)
UK delays review of business rates tax until autumn
LONDON (Reuters) – Britain’s finance ministry said it would delay publication of its review of business rates – a tax paid by companies based on the value of the property they occupy – until the autumn when the economic outlook should be clearer.
Many companies are demanding reductions in their business rates to help them compete with online retailers.
“Due to the ongoing and wide-ranging impacts of the pandemic and economic uncertainty, the government said the review’s final report would be released later in the year when there is more clarity on the long-term state of the economy and the public finances,” the ministry said.
Finance minister Rishi Sunak has granted a temporary business rates exemption to companies in the retail, hospitality, and leisure sectors, costing over 10 billion pounds ($14 billion). Sunak is due to announce his next round of support measures for the economy on March 3.
($1 = 0.7152 pounds)
(Writing by William Schomberg, editing by David Milliken)
FTSE 100 ends higher on improving economic activity; gains for the third week
By Shivani Kumaresan, Amal S and Shashank Nayar (Reuters) – London’s FTSE 100 ended higher on Friday after the economy...
European shares end higher on strong earnings, positive data
By Sagarika Jaisinghani and Ambar Warrick (Reuters) – Euro zone shares rose on Friday, marking a third week of gains,...
UK bond yields head for biggest weekly rise since June
LONDON (Reuters) – British government bond prices fell again on Friday as a global debt sell-off continued on expectations of...
Siemens Healthineers gains EU nod for $16.4 billion Varian buy
BRUSSELS (Reuters) – EU antitrust regulators on Friday cleared with conditions Siemens Healthineers’ $16.4 billion acquisition of U.S. peer Varian,...
Teed off: As COVID fuels S. Africa’s housing crisis, golf courses feel the heat
By Kim Harrisberg JOHANNESBURG (Thomson Reuters Foundation) – It sounds like a developer’s dream: A greenfield site in the heart...
UK might need negative rates if recovery disappoints – BoE’s Vlieghe
By David Milliken and William Schomberg LONDON (Reuters) – The Bank of England might need to cut interest rates below...
UK economy shows signs of stabilisation after new lockdown hit
By William Schomberg and David Milliken LONDON (Reuters) – Britain’s economy has stabilised after a new COVID-19 lockdown last month...
Dollar extends decline as risk appetite favors equities
By Stephen Culp NEW YORK (Reuters) – The dollar lost ground on Friday, extending Thursday’s decline as improved risk appetite...
Bitcoin hits $1 trillion market cap, soars to another record high
By Gertrude Chavez-Dreyfuss and Tom Wilson NEW YORK/LONDON (Reuters) – Bitcoin touched a market capitalization of $1 trillion as it...
Shares rise as cyclical stocks provide support; yields climb
By Saqib Iqbal Ahmed NEW YORK (Reuters) – A gauge of global equity markets snapped a 3-day losing streak to...