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Credit Risk Market Update: October 2023

What is happening in Credit Risk within the London market?

  • 2023 has been a solid hiring market within Credit Risk Management, but not
    exceptional
  • Confidence is growing in the hiring market despite a more generally tough
    economic backdrop.
  • Hiring has generally seen activity within Credit Risk at a Senior Analyst and
    AVP / Associate level
  • UK Senior level hires / MD level have been less frequent in 2023 so far
    Challenges
  • Candidates are generally in shorter supply due to nervousness around
    moving, desires to “wait until bonus has been paid” and also post-Brexit visa
    restrictions
  • Within organizations, salary levels have been increased due to cost-of-living
    adjustments (in some cases as much as 15%).
  • Market hiring has not necessarily factored this in, so there is often some
    disparity between hiring budgets and candidate expectations
  • Bonus levels from Feb to July on the whole have been average
  • IR35 has reduced the Contractor population, so many have taken Perm roles.
  • Lure of roles in mainland Europe

For more information please contact rob@theriskpartners.com

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