Almost two thirds (63%) of financial services firms are intending to raise salaries this year. Will you be one?
More than half of employees say a salary increase is their top work priority this year. Almost half say they will ask for a pay rise, while others said they sought to get one by looking elsewhere. Which one are you?
A quarter of professionals in our industry do not expect any increase, according to the Hays Salary Guide.
Just 4% of firms expect to grant rises of more than 6%. Over-hanging the outlook for pay increases is the fact that new qualifications in financial planning will see a large number of financial advisers look for other roles.
Also expect the structure of salaries to change, with base remuneration increase at the expense of commissions, in response to the findings of the Royal Commission.