2024/2025 Salary Survey: Key Trends in Boutique Finance Recruitment in London

2024/2025 Salary Survey:  Key Trends in Boutique Finance Recruitment in London

The London finance industry continues to evolve, with salaries in boutique finance firms reflecting notable trends over the past year. As a specialist boutique recruitment consultancy working mainly with Private Equity, Asset Management, Hedge Funds, VC etc we’ve analysed salary data across various roles and sectors to highlight key insights for 2024 going into 2025.  Do review our 2024 salary survey to see what our research found.  The figures reflect salaries for roles that we placed in 2024 in our various sectors. To outline what appears to be happening:-

1. Stabilisation After Pandemic Volatility

After several years of disruption, salaries in boutique finance stabilised in 2023. Despite broader economic challenges, demand for specialist roles remained strong, leading to modest base salary increases of 5-10% across most positions. This reflects both inflationary pressures and the need to attract top-tier talent.

2. Bonuses on the Rise

Bonuses, a vital component of total compensation, rebounded significantly in 2023 and went on to 2024; more at the senior end.   Boutique firms, particularly in private equity, corporate finance, and restructuring, rewarded high performers with bonuses often ranging from 30-100% of base salary. Top professionals in high-demand areas saw even higher payouts, nearing pre-pandemic levels. We suspect that this will filter down in 2025.

3. Role-Specific Trends

• Investment / Investor Relations Analysts and Associates (Private Markets): Salaries for Analyst level hires ranged from £50,000-£80,000 while Associates earned £80,000-£120,000. Bonuses were tied closely to firm performance. Boutique private equity firms aggressively pursued talent in these areas, leading to increased total compensation for these specialist hires
• Front and Middle Office (typically Public Market Investment firms): Professionals in front office roles, such as Traders and Research Analysts, saw salaries ranging from £60,000-£100,000 at the junior level and exceeding £200,000 for senior Research Analyst and Portfolio Manager positions. Middle office roles, including Trade Support, Risk, Performance Analysis and Compliance, saw steady demand, with salaries ranging from £60,000-£100,000 for mid-level positions
• Client Service / Sales Support, and Distribution: In these challenging economic conditions, raising new assets is key to any investment business, as is defending against outflows. Delivering exceptional Client Service is a key part of any service proposition and goes some way to mitigate poor fund performance. Mid-level Client Service hires (4 – 7 years of experience) commanded salaries between £60,000 – £80,000, with mid-senior level Sales professionals between £90,000 – £140,000 salary, and OTE’s of £120,000 to £200,000+
• Part-Qualified and Newly Qualified Accountants in Private Markets firms: Part-qualified accountants earned between £40,000 – £55,000, depending on experience and sector. Newly qualified accountants started at £60,000 – £65,000. Bonuses for these roles typically ranged from 10% of base salary at the part qualified level up to 25% of base salary at the newly qualified level
• 1-7 years Post Qualified Accountants in Private Markets firms: Experienced accountants with 1-7 years post-qualification (Senior Accountant up to Finance Director) earned between £70,000 – £160,000. Bonuses varied widely, varying from 25% of base salary at the Senior Accountant level increasing to 75% of base salary at the Finance Director level
• CFO Level: Chief Financial Officers in private markets firms of varying sizes commanded starting salaries of £160,000 – £250,000. Bonuses at this level typically 60%-100%
• HR: HR Generalists with a couple of years’ experience within the sector will be earning £45,000 – £50,000 while at the other end, Chief People Officers will have a base salary of £250,000 although at this seniority, bonus and LTIP takes the annual compensation considerably higher
• Business Support: Business support roles, including executive assistants and office managers, commanded salaries ranging from £55,000 – £95,000, reflecting the critical support these roles provide in boutique environments

4. Competitive Talent Market

Despite strong demand, boutique firms faced challenges attracting and retaining talent in London’s competitive finance market. To stay ahead, firms offered flexible working arrangements, clear career progression opportunities, and innovative benefits beyond traditional compensation.

5. Outlook for 2025

Looking ahead to 2025, we anticipate further salary increases in boutique finance as competition for skilled professionals intensifies. High-demand areas like private equity.  Additionally, the importance of ESG, digital transformation, and fintech expertise will likely grow, with firms prioritising candidates who can navigate these evolving challenges. Flexible working arrangements and innovative benefits will remain critical for attracting and retaining top talent in London’s competitive market.

Final Thoughts

Understanding these trends is crucial for both candidates and hiring managers navigating the recruitment landscape. Boutique finance firms in London remain a compelling option for professionals seeking dynamic roles and competitive packages.

To explore opportunities/hire or gain more insights, contact our team today and we can arrange call/meeting? Together, we can help you make informed career or hiring decisions in this competitive market.