Treasurers who move jobs can get a 2%-3% boost to their pay packets due to the FTSE companies and Big Four professional services firm embarking on hiring drives in 2014.
According to recruiter Hays, demand for treasurers is continuing to build after a busy start to the year when a number of group treasurers switched roles. While there has been less activity at the senior level during the spring than over the Christmas period, many organisations are hiring into middle-management treasury positions such as treasury manager and dealer.
In a statement, Hays said: “The very largest companies – those in the FTSE 60 – are most actively recruiting – and employers come from a range of industry sectors including energy, oil and gas, and technology.”
It added that the Big Four professional services firms were strengthening their treasury advisory practices by recruiting treasurers from industry who have between two and four years’ experience in a multinational treasury as well as strong academics.
Most of the churn in the treasury market is down to natural progression. This is when treasurers move on in their careers and need to be replaced.
New roles are also being created and some smaller companies – which do not necessarily need a full-blown treasury function – are bringing in senior treasurers on an interim basis to help them to establish their banking arrangements and treasury policies.
“The introduction of derivative-reporting obligations under the European Market Infrastructure Regulation has added to the burden on treasuries this year, leading to demand for more staff,” Hays said.
While London is traditionally the busiest centre for treasury hiring, jobs are coming up across the UK and there is also considerable activity in Liverpool, Manchester and the Thames Valley. Hays anticipates increased demand for treasurers with skills in M&A and initial public offerings as the year progresses.
Sally Percy is editor of The Treasurer