2023 Hiring trends in banking & financial services
For many organizations, the evolution of the financial market and the positioning and integration of ESG standards will further fuel the demand for financial professionals with sector-specific technical skills.
Almost every organization within banking and insurance is looking for proactive and resilient talent with strong interpersonal skills, business acumen and the ability to co-support process improvement initiatives.
As an employer, it is therefore essential to offer potential employees the desired flexibility, both in terms of financial terms and work environment, to stay ahead of the competition.
Marie-Astrid Carlier, associate director at Robert Walters, shares some key figures and her expectations about the job market for professionals within the banking sector in 2023.
Top 3 most in-demand banking & financial services professionals in 2023:
- Compliance & Risk Management Specialist
- Accounting & Finance Specialist
- Business Developer/Project Manager
Top 3 most sought-after skills among banking & financial services professionals in 2023:
- Interpersonal skills
What do banking & financial services professionals value most in their employer in 2023?
- Excellent comp & ben
- Challenging and interesting work
- Inspiring colleagues and company culture
2023 salary trends within banking & financial services
The expected salary indexation will undoubtedly have a significant impact on organizations within the banking and financial services sector. Nevertheless, salary expectations of banking & financial services professionals are high: Robert Walters' 2023 salary survey reveals that 41% of employees surveyed expect a salary increase, on top of indexation.
Looking at employers' salary plans, one in two plan to grant their employees a pay rise in 2023, on top of the expected indexation. In terms of bonuses, banking & financial services professionals need not fear either: 69% of surveyed employers plan to award a bonus in 2023.
Labour market in full swing
During the corona pandemic, we noticed that banking & financial services professionals were previously reluctant to change jobs, preferring to stay with their current employer. Now the cards are completely different: a whopping 93% of banking & insurance professionals surveyed by Robert Walters are confident of finding a new interesting job opportunity in 2023. Since these professionals stay in their positions for an average of 2 years, it is quickly apparent that we can expect quite a bit of movement in the job market in the coming year, especially if employers cannot meet their employees' salary expectations," warns Marie-Astrid.
"Therefore, as an organization, it is essential to keep current employees motivated and set out a clear personal development planpWhen recruiting new staff, we advise employers not to focus so much on candidates with sector experience, but also to be open to professionals with transferable skills, and look at the growth potential as well as the personality of candidates they meet," Marie-Astrid advises.
Download the digital Robert Walters salary survey tool today. Looking to hire talent for your team? Contact us or upload your vacancy.