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Poor Relation January 17, 2010

Posted by Audit Monkey in Working Life in Britain.
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One thing about working in the City is that you become very money conscious. Given that I’m looking at a mandatory change of circumstance this year, I thought I’d better check out the current market rates.

A quick look at Eames Consulting provides some insight into the current salary levels. Some of the positions featured are at top tier Investment Banks who like their pound of flesh and the salaries advertised may be at the top end of the scale.

Your average Actuary can expect to earn in the range £80,000-£100,000 pa. I don’t begrudge our Actuarial friends that money as it takes 5 years to qualify (assuming first time passes) and the subject content isn’t exactly, well, interesting. Also, there has to be some compensation for a personality bypass.

Project Management or ‘Change Management’. It appears that a Project Manager can pick up £750 a day, which pro rata comes in at £180,000 pa, based on 240 working days per annum. This said, I recognise that projects can be short lived and there is a premium for contracting. There is also the stress.

Compliance Officer, the range here seems to be £55,000-£90,000. At the top end, in excess of £100,000 pa seems obtainable.

And Internal Audit, the range seems to be £55,000-£85,000. The higher salaries, £90,000 plus are obtainable for IT Audit positions and Head of Audit posts. The former is a specialism and competiton for the latter is stiff due to limited opportunities.

One thing strikes me, are Internal Auditors the poor relation? Do Internal Auditors need to increase their professionalism?

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