Financial planning and analysis tops the list as organisations focus on business transformation
As organisations focus on transforming their businesses and navigating political change in a competitive marketplace, the Robert Half 2017 Salary Guide has revealed the positions set to experience the greatest rise in starting salaries in 2017. Roles in financial planning and analysis are set to experience the largest increase (5.8%) in the year ahead. Mobile application developers, operational risk managers and financial controllers also appear in the list for the second year in the row, as demand for professionals in these fields remains high.
The top 10 roles in full are:
- Financial planning and analysis manager in a large company – 5.8%
£64,000 – £82,000
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Organisations are seeking the business partnering skills of financial professionals who can review their financial modelling and offer insights to improve profit performance. As businesses consider their future direction these professionals offer strong commercial benefits on how to create efficiencies and improve the overall productivity of the organisation.
- Senior operational risk managers – 5.2%
£85,000 – £120,500
Regulatory compliance has significantly impacted firms’ internal cultures and governance models, creating a growing demand for experienced risk professionals. As organisations invest more in risk functions, they are seeking professionals who can introduce sophisticated risk management schemes which also provide the strategic insight that inform business decisions – from driving product innovation to gaining commercial advantage.
- Project manager in accounting and finance – 4.9%
£45,000 – £51,500
Finance transformation is set to rise to the top of the agenda and firms are seeking finance professionals with strong project management skills who can take ownership of change as well as the efficiency of digitising the finance function. As improving and upgrading systems becomes a priority for CFOs, there is a growing appetite from firms to use highly skilled professionals on a project basis to benefit from a fresh perspective while still applying best practice standards.
- Developers – 4.5%
£27,500 – £48,000
Businesses are looking for a leaner way of simultaneously supporting applications and driving innovation through DevOps. As a result, those who combine technology expertise and know-how with softer skills –such as the ability to communicate and collaborate with the wider business –are becoming vital to supporting wider business objectives.
- Financial controller – 4.3%
£59,500 – £72,750
Financial analysts with strong problem solving skills and attention to detail play a key role supporting the finance function. With new regulation and reporting standards, such as FRS101/102 and changes to limited company taxable benefits, there will be a premium for qualified accountants who can help organisations remain compliant.
- Operational risk managers – 4.3%
£62,000 – £95,000
As firms increase investment in resources and IT infrastructure to improve conduct risk surveillance and management information, there’s a growing need for skilled professionals who can create risk management frameworks. Operational risk managers are emerging alongside senior ORMs as an in-demand discipline with businesses placing a premium on risk specialists who can embed risk management into business models.
- Mobile applications developer – 4.3%
£36,000 – £62,000
The rising number of smartphone and tablet users means starting salaries are continuing to increase for those responsible for coding, testing and debugging new applications or changing and enhancing existing mobile applications.
- Junior developer – 4.3%
£19,500 – £30,000
Responsible for designing and developing high performing applications through agile methodologies, support and maintenance, starting salaries are increasing at a rate reflective of the skills deficit in the market. Increasingly, candidates with five-plus years’ experience are being offered salary levels on par with those with more than 10 years of experience.
- Financial planning and analysis manager in an SME company – 4.1%
£65,000 – £73,500
With firms from all sectors looking for more commercial and measurable outcomes, the remit of financial and analysis managers is being extended. They are increasingly responsible for exploring new areas of development and making recommendations aligned to the strategic focus of the business.
- Commercial finance controller in a large company – 4.0%
£76,250 – £94,250
Working closely with the financial controller, these qualified accountancy professionals act as business partners to support the revenue growth of an organisation. Using the expertise of management accountants and financial analysis they are able to distill the insights needed for each department within a large company to operate efficiently.
Phil Sheridan, Senior Managing Director, United Kingdom, South America and the Middle East, Robert Half commented: “The rise in starting salaries is a reflection of organisations taking on business transformation projects, financial planning and risk mitigation which is adding additional strain on the limited supply of professionals with these skills.
“To win the growing war for talent, businesses need to offer competitive salaries, opportunities for development and a supportive company culture to remain an employer of choice.”