Why now is a great time to work in treasury
With all the talk of economic and political uncertainty filling column inches over the last few months, it is easy to conclude that every industry has been or will be affected by the UK’s vote to leave the European Union. However, whilst we do not know what the long term future holds, the treasury market in the short-term is looking as buoyant as ever.
Companies we work with across various sectors continue to experiencing a steady number of opportunities across all levels of Treasury professionals, from Treasury Analysts through to Group Treasurers. Some companies are even recruiting several treasury roles at once! Team expansions, company M&A’s, IPO’s and spin off activities are fuelling recruitment levels. We anticipate this increase to continue for the remainder of 2016 and into early 2017.
Naturally, we experienced the usual quiet summer period but with data recently released by the office for national statistics showing an unexpected 0.7% decrease in the UK unemployment rate (4.9% this year compared to 5.6% a year ago) it appears to be business as usual for recruitment across the board. A rise in unemployment was expected and would have signalled the early signs of a slowing market, whereas this data lends itself to say that we won’t necessarily see the slowdown in recruitment that was previously anticipated.
With consistent recruitment activity and companies continuing to hire, the market is looking positive for treasury professionals ready for a new role.
Many treasurers we work with are taking advantage of the current climate, having successfully navigated initial currency volatility, they continue to benefit from low interest rates on their borrowings.
One noticeable aspect within the treasury market over the last 12 months has been the increase in remuneration for those in full-time employment. When we conducted our salary survey and market report earlier this year, it revealed 64% of respondents received a salary increase and 79% of treasury professionals surveyed received a bonus in the last 12 months.
The recruitment market for interim, contract and temporary treasury professionals has been experiencing positive times too with companies continuing to initiate projects around process improvement. Our treasury market report identified that 63% of interim Treasurers expect their current contract to be extended and 25% of employees that hire interim Treasurers expect to see their team grow in the next 12 months.
Overall, the treasury market is experiencing a good period despite the economic uncertainty that is surrounding the UK.