bwd market analysis - internal audit

Market AnalysisInternal & IT Audit

2015/2016

Introduction

Over the course of the past year I have noticed thatthere has been an increased demand for highlyskilled Internal Audit & IT Audit professionals withinthe Banking sector. But had this had a clear impacton salaries? From the information I garneredthrough conversations I held during this period, itseems like salaries are experiencing an upwardtrend. I conducted this survey with the aiming offinding out if that was the case.

Salary Trends

85%

Demonstrates a trend of increasing salaries,85% is a high amount of respondents whoreceived a pay rise in 2015, with 68% expectinga further increase in 2016.

Certainly shows a large degree of confidencethat the market will demand uplifts andemployers risk losing staff if they don’t react.

68%of people expect a salary

uplift in 2016

of people received a salary uplift in 2015

Bonuses

55%of people are not expecting a higher bonus payment than in

the previous year 60%Of bonuses are paid in

February and March

Pay Range Percentage of Respondents

0-5% 20%

5-10% 25%

10-15% 10%

15-20% 35%

20%+ 10%

Percentage of base salaryexpected in bonus payment:

5-1

0%

15

-20

%

35%

10%

10

-15

%

25%

0-5

%

0-5

%

10%

20%

A

Retention

33%of respondents will be seeking

new employment once they have received their bonus

The most important factors respondents would consider when moving roles are:

Reason % of Respondents

Culture 10%

Role Responsibilities 30%

Increased Salary 25%

Location 10%

Seniority 25%

Conclusion

My conclusion from the survey is that salaries within Internal Audit are experiencingan upward trend, and, in addition there is an expectation from 68% of respondentsto receive a further salary rise early in 2016. The good news for employers is thatwhilst they do expect a base salary uplift, 55% don’t expect bonuses to be higherthan last year

Interestingly the most important in this survey for moving roles is roleresponsibilities followed by an increase in salary and seniority. So with salaries inthis area on the rise and candidates are in demand, it does seem to be thatcandidates are motivated by the financials.

*We do operate a referral scheme worth up to £350 in vouchers based upon a

successful referral.

We would be keen to hear your thoughts;particularly as we look to issue our 2016 Salary& Benefit Census early next year.

Market AnalysisInternal Audit / IT Audit

2015/2016