Treasurers’ salaries rose by 4% during 2013 with the biggest increases reserved for senior positions such as group treasurer, treasurer and assistant treasurer.
Research by recruiter Robert Walters found that group treasurers at FTSE 100 companies were typically earning £150,000 or more by the end of the year, up from £140,000 12 months previously. Their assistant treasurers enjoyed pay packages of more than £120,000 compared with £110,000 the year before.
Treasury managers with over three years’ experience typically earn £75,000 upwards while treasury analysts take home at least £55,000 on average.
Day rates for treasury contractors were virtually static during 2013, climbing a modest 0.3%. They appear to be steadying after a volatile couple of years. In 2011, they rose by 7.3%, but fell by 2% in 2012. Improving economic conditions have meant employers are more willing to invest in permanent staff.
Robert Walters noted that individuals with both treasury and finance qualifications are particularly attractive to employers. But it can be hard to attract entry-level professionals into treasury since the career path does not necessarily seem clear to a newly qualified accountant.
Commenting on the research, Stuart Ridley, head of treasury recruitment at Robert Walters, said: “2013 brought long-anticipated signs of growth within commerce treasury divisions. The number of new roles was in itself positive, but the specific increase of senior-level vacancies was especially encouraging, as these professionals are likely to expand their teams in 2014 or partake in specific treasury projects.”
He added: “A mixture of increased job flow and hiring managers placing increased importance on treasury qualifications when defining the ideal employee means that potential job movers will need to be treasury-qualified even to get through the initial shortlist of CVs.”
Sally Percy is editor of The Treasurer