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EXECUTIVE SUPPORT SALARIES

Financial Markets Salary Survey

The demand for secretarial roles remains stable, with an increasing demand for graduate calibre candidates.

 

There has been a growing trend in favour of permanent recruitment as clients are starting to invest more in developing staff for long-term retention. As a result, there has been an increase in the volume of hires at a more junior level with a view to cut costs by up-skilling staff.

Graduates are being sought for positions which get them more involved in the business as a whole as opposed to limiting them to traditional secretarial duties. The aim of this is to have more staff able to fill hybrid roles. Smaller organisations in particular are following this trend.

There is a high demand for permanent candidates with solid experience. Market conditions over the last few years have created a generation of professionals who have experienced an extended period of unemployment, or who have relied entirely on short-term assignments. There is therefore a shortage of candidates with solid, stable CVs, which has driven salaries up at the junior end.

The growth in salaries for junior positions has created an issue at the senior end, where salaries are not increasing at the same rate. A glass ceiling for new employees will become ever more likely if this trend continues. It is yet to be seen what effect this pay disparity will have, it may pressure salaries to rise for senior staff or there may be an increase of PAs diversifying their skills in an effort to increase their pay.

Despite the emphasis on permanent staff, there is still a high number of temporary roles. We are seeing many temporary workers being taken on permanently at the end of their contracts. Even with new headcounts for permanent staff, there is still a tendency to recruit on a temporary basis to minimise risk.