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2024 Salary Survey Analysis and 2025 Forecasts: Navigating Compensation Trends in Finance Sectors

Author: 

Mimi Glenn

As we transition into 2025, understanding the evolving compensation landscape across the finance sectors remains essential for businesses seeking to attract and retain top talent. This comprehensive report not only analyses the key findings from the 2024 salary survey but also integrates compensation trends observed during the year and offers 2025 economic forecasts and industry insights to provide a clear overview of emerging trends and projections for the year ahead. By offering valuable data on salary dynamics and market shifts, the report serves as a critical resource for professionals navigating an increasingly competitive environment.

2024 Recap: Key Compensation Trends

  • Private Markets: In 2024, Chief Financial Officers (CFOs) commanded salaries up to £250,000, with bonuses reaching 100%. Junior roles, such as Accounts Payable positions, offered salaries ranging from £35,000 to £42,000.

PwC

  • Public Markets: Senior Portfolio Managers saw compensation packages up to £250,000, with bonuses as high as 200%. Investment professionals at junior levels earned between £70,000 and £105,000.

PwC

  • Tax Sector: In London, Senior Tax Managers earned up to £145,000, with bonuses exceeding 50%. In the United States, regional disparities were evident; for instance, Tax Managers in California earned a median salary of $143,580, approximately 29% higher than their counterparts in Florida.

PwC

Economic Outlook for 2025

The UK’s economic landscape is poised for growth in 2025. The EY ITEM Club forecasts GDP growth of 1.5% in 2025, up from 0.9% in 2024, indicating a steady economic recovery. This positive trajectory is expected to influence compensation trends across various sectors.

EY US

2025 Compensation Forecasts

  • Private Markets: With the anticipated economic upswing, senior roles, including CFOs, may see salary increases of 5-7%. Bonuses are projected to remain robust, reflecting sustained demand for experienced financial leadership.

PwC

  • Public Markets: Compensation for investment professionals is expected to rise in line with market growth. Senior roles could experience salary increments of 4-6%, with bonuses continuing to play a significant role in total remuneration.

PwC

  • Tax Sector: The tax function is evolving, with increased emphasis on real-time reporting and technological integration. This shift may lead to higher demand for skilled tax professionals, potentially driving salary increases of 6-8% for senior positions.

PwC

Emerging Trends Influencing Compensation

  • Technological Integration: The adoption of artificial intelligence (AI) and digital tools is reshaping roles within the finance and tax sectors. Professionals with expertise in these areas are likely to command premium salaries.

PwC

  • Regulatory Changes: Ongoing developments in tax legislation and financial regulations necessitate continuous upskilling, influencing compensation structures to attract proficient talent.

Tax News

  • Economic Recovery: As the UK economy rebounds, increased business investment and consumer spending are expected to create a competitive talent market, prompting employers to offer more attractive compensation packages.

EY US

Strategic Considerations for Employers

To remain competitive in attracting and retaining top talent the message is consistent, businesses should consider:

  • Comprehensive Compensation Packages: Beyond salaries, offering bonuses, benefits, and career development opportunities can enhance employee satisfaction and loyalty.
  • Emphasis on Work-Life Balance: Flexible working arrangements and support for work-life balance are increasingly valued by professionals across sectors.
  • Investment in Training and Development: Providing opportunities for skill enhancement, particularly in emerging technologies and regulatory compliance, can position businesses as employers of choice.

Conclusion

The finance and tax sectors are set for notable compensation developments in 2025, influenced by economic recovery, technological developements, and regulatory changes. Employers who proactively adapt to these trends and strategically enhance their compensation offerings will be well positioned to attract and retain top tier talent in a dynamic market. Partnering with a leading finance-focused recruitment consultant such as Carnegie Consulting helps you maintain a competitive edge in the industry.

For a detailed analysis and tailored insights, please request to our comprehensive 2024 Salary Survey Report. 

[email protected]

Note: The projections and trends discussed are based on current data and forecasts. Actual outcomes may vary somewhat depending on a range of economic and industry specific factors.

2024 Salary Survey Analysis and 2025 Forecasts: Compensation Trends in Finance Sectors
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