Groups' surging demand for compliance staff leads to 'mercenary' pay environment

MiFID II due to be implemented in January 2018

Laura Dew
The average salary for a compliance officer can range between £100,000 and £150,000

The average salary for a compliance officer can range between £100,000 and £150,000

Asset and wealth management firms seeking to boost compliance department headcounts are offering individuals up to 15% pay rises in order to recruit ahead of the fast-approaching MiFID II deadline in January 2018.

The number of compliance staff employed by the UK wealth management industry has risen by 53% since 2002, according to research firm Compeer, as asset managers seek to keep up with ever-changing regulatory pressures, including MiFID II, AIFMD and PRIIPs. Recruiters have said demand is outstripping supply with groups acting with a "definite urgency" to appoint compliance staff, leading to a "mercenary" attitude towards pay among compliance officers who can effectively name their price.  Thin supply The average salary for a compliance officer can range between £100,000 and £150,000, a...

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