Financial services sector sees huge surge in human resources salaries

Salaries for HR professionals in the financial services sector have rocketed over the past year, with recruitment activity boiling over, according to a City recruiter.

Average salaries have increased by as much as 35% over the past year, figures from recruitment firm Joslin Rowe suggest.

Kris Sasitharan, associate director at the company, told Personnel Today: “The average HR salary has increased from £38,000 to £51,000 since last summer. This can be attributed to a skills shortage in other areas, and the need to have high-calibre HR teams in place to address talent management issues.”

Research also indicated a 23% increase in the number of first-time HR roles being recruited for in the City. Senior HR professionals are also at record levels of demand, Sasitharan added.

An increase in HR banking positions is said to be a good indicator of the strength of the current HR employment market.

Concern that recent mergers and the mortgage meltdown in the US would affect recruitment have failed to materialise, he said.

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