Castille Salary

Benchmark 2013
Financial, IT & Senior Talent
www.castilleresources.com

Castille 2015 Salary Guide

Financial, IT & Senior Talent

Affiliate Member

www.castilleresources.com

Dear Delegates,
2015 has continued to show positive employment trends in most FS sub sectors bringing more substance on
shore mainly in back and middle office positions as well as in some front office operations. Pressures on talent
availability have increased proportionately with vacancies remaining unfilled for longer, a higher proportion
of job offers being rejected and clients reporting higher staff turnover rates than in previous years. The
specific pressure points remain unchanged with Accountants and Lawyers at the technician, trainee and newly
warranted levels being the most sought after skills across the industry. Castille has also continued to see
heightened demand for talent in risk, portfolio management, compliance and software.
We have summarized below the main trends noted in the last 12 months by sector:

Banking:
This year Castille has experienced significant hiring
requirements in support roles such as Internal
Audit, Regulatory Compliance, Internal Financial
Management, Risk and Technology mainly on the back
of continued regulatory and shareholder pressures.
We have also seen a number of international banking
groups setting up Custodian operations and requiring
senior management to develop and run these
businesses.

Insurance:
The international insurance operators continue to
drive employment growth within this sector with new
entrants and existing operators hiring mid to senior
Actuarial, compliance and accountancy related roles.
The positions increasingly require insurance specific
knowledge even in areas such as accountancy.

Asset Management:
Fund managers continue to add analyst and Junior
Portfolio positions to their local structures and
here we are pleased to note that the local supply
of investment and treasury analysts some of them
undertaking the CFA qualification is so far keeping a
pace with the growing market for these skill. Funds
are also employing for Accountancy and Regulatory
type positions usually at a mid to senior level. Fund
Administration continues to grow headcount amid
a very tight employment market especially when
it comes to Fund officer and Fund accountant
candidates.

continuously extending service lines to areas such

as Marine, Aviation and Pensions as well as growing
their mainstream Corporate services businesses. In
view of this clusters significant headcount, we see
corporate service providers increasingly in the market
for replacement hires creating competition for junior
to mid-level client accountants in the main.

Assurance and Law Firms:

Professional services firms typically provide the FS
sector with the main hiring ground for talent however
these firms are finding difficulty in replenishing ranks
at the 3 to 5 year experienced level despite most
players continuing to invest aggressively to grow
their share of intake at entry level. These firms are
also growing their practices selectively at more senior
levels in areas such as Banking, Asset Management
and Insurance advisory.
We are providing hereunder summary Guidance
Tables on Gross Basic Salaries based on placement
and job offer values seen in the last 12 months.
Should you require more specific advice on
Remuneration values and packages please do not
hesitate to contact us for a meeting.
We wish you all an enjoyable and informative
Conference.

Kind regards,

Corporate Services:
Once again the corporate services sector accounts
for a significant chunk of the volume of vacancies
within FS and the last 12 months has seen continued
capacity building in Accountancy, Legal, Tax,
Compliance and Fund services with operators
2

Matthew Camilleri
Managing Director, Castille

Castille 2015 Salary Guidance.

Castille 2015 Salary snap shot - indicative Gross
Basic salary ranges based on market values.

Indicative Range of
Annual Gross Basic Salaries

CEO

90,000

150,000

CFO

70,000

120,000

CTO

60,000

85,000

Financial Controller

55,000

70,000

Part Qualified Accountant

20,000

25,000

Newly Warranted Accountant

28,000

35,000

Branch Manager

30,000

40,000

Treasury Senior Manager

45,000

60,000

Fund Accountant

28,000

35,000

Fund Clerk

16,000

22,000

Trust manager

40,000

45,000

Compliance Manager

30,000

40,000

Compliance Officer

17,000

25,000

Technical Architect

45,000

50,000

Business Intelligence Specialist

40,000

50,000

Software Development Team Lead

35,000

45,000

Software Developer (I)*

22,000

35,000

Software Tester (I)*

22,000

32,000

(I)* Intermediate Level

Performance bonuses remain in the range of 8-10% of gross basic salary level,
however these can increase to 30% - 40% in key senior management and front
office positions. The typical benefits in kind packages would normally include private
health insurance (local cover) together with phone, car and study allowances.
The above Salaries are only indicative and based on values seen in the market by
Castille in recent months.
Should you require more specific advice, please do not hesitate to contact us for a
meeting.

Castille,

Casa Leone,
Pjazza Robert Samut Floriana,
FRN 1200 Malta

mac@castilleresources.com
(+356) 20 933 000