Extract from IDS Executive Compensation Review 306, August 2006

Compliance specialists

We last monitored the market for compliance staff just over a year ago when we found steady growth in demand and recruitment salaries driven by an expansion in compliance regulations. Our latest look at the profession shows that 12 months on the picture is unchanged – a buoyant market characterised by skill shortages, large salary rises and, for many, generous bonuses.

Demand for compliance professionals was strong throughout 2005 and the start of 2006 as firms sought to respond to the issues thrown up by new and existing legislation. In addition to demand pressures, a shortage of experienced staff in certain areas meant that the supply side was also constrained, leading to upward pressures on salaries. The impact has been to push up pay levels to aid recruitment of new employees and retention of those already in post. With these pressures set to continue, and potential new legislation on the horizon, recruiters specialising in the area predict no let-up over the coming months.

As well as gauging current recruitment trends from specialists in the field, this article also provides tables showing typical salary levels for compliance specialists by position and years of experience. Further data on permanent and contract rates is also given in tables as well as information on current bonus levels.