What do finance jobs pay in 2022?

It’s no secret that there’s a lot of money in the UK finance industry. In fact, according to government figures, the sector contributed almost £165 billion to the national economy in 2020, representing almost 9% of the country’s total economic output.

By the end of March 2021, the financial services sector alone employed 1.1 million people, or about 3.3% of all UK jobs.

But how much do people in finance really make? And what are some examples of high-paying finance jobs? Read on to find out.

A guide to salaries in finance jobs: 5 top roles

Salaries in the finance sector have been rising significantly over the last year, with employers offering more to combat the candidate shortage. Camilla Strachan, Associate Director at Michael Page Finance, said: 

In the current market, most candidates expect a minimum ten percent uplift in their salaries when considering new positions - candidates earning around £100,000 per annum expect more like a twenty percent rise. They tend to make this clear early on in the interview process, with inflation and the rising cost of living being major drivers, as well as the upheaval of moving jobs. With the talent shortages we are seeing, employers are doing whatever they can to secure top talent, meaning that candidates are generally receiving job offers matching those demands.

Looking for high-paying finance jobs? Here are the median salaries for the top five most advertised finance job titles in London, as detailed in our Q1 report, A Guide to Salaries and Skills 2022: Finance. 

Management Accountant

Management accountants are responsible for analysing financial performance to develop forecasts and budgets, and tracking progress against existing plans and targets. They present this information to senior leaders, who use it to make strategic business decisions. 

The role can also involve a range of other tasks, including:

• Identifying business trends
• Monitoring compliance and enforcing the rules
• Using trends analysis to find opportunities for improvements or efficiencies
• Developing and maintaining the organisation’s financial systems and processes
• Supervising direct reports, such as data processors and bookkeepers
• Arranging for operations to be funded and financed
• Analysing and managing risk

Some management accountants are generalists, performing the full range of accounting tasks, while others focus on a specialism, such as budgeting or taxes.

Median London salary
£55,000

Financial Analyst

Financial analysts are professionals who perform financial analysis for various clients, or for the organisation that employs them. Variants on the job title include securities analyst, research analyst, equity analyst, investment analyst, and ratings analyst.

Common financial analyst tasks and responsibilities include:

• Organising financial information
• Analysing historical financial performance
• Using financial data and models to create forecasts and projections
• Making business recommendations influenced by budgets and forecasts
• Developing financial models using Excel or proprietary software
• Gathering financial data

Median London salary
£55,000

Reporting Analyst

Reporting analysts design financial reports and dig into performance metrics to provide the data required for business-critical decision-making. As well as gathering results and communicating them to senior leadership, they often use the data to identify trends and make recommendations.

Typical tasks performed by a reporting analyst include:

• Analysing and collecting the data required to produce various business reports
• Communicating data analysis to company managers via written and in-person presentations
• Analysing business and market data to identify internal and external trends and opportunities
• Performing analysis to help drive results in other departments, such as sales and marketing
• Maintaining and updating databases to ensure they remain accurate
• Examining reports to identify mistakes and resolve where necessary

Median London salary
£55,000

Group Accountant

Group accountants are responsible for overseeing the finances of large businesses, often with departments and operations in multiple countries. Often based out of their company’s head office, they make sure compliance in accounting standards across the group, including any subsidiaries. They may also help senior leaders to make business-critical decisions by providing the necessary accounting information. As such, the position of group accountant involves communicating with staff across various business functions and levels of seniority. Common tasks include:

• Producing financial reports
• Filing accounts information for subsidiaries
• Consolidating group-wide financial information
• Fulfilling the group’s statutory reporting requirements
• Preparing quarterly and annual budgets and forecasts
• Communicating with internal and external auditors
• Ensuring financial compliance across the group
• Resolving any financial queries that arise

Median London salary
£60,000

Finance Business Partner

Finance business partners collaborate closely with a specific business function to support financial management and operations, becoming a trusted adviser to their unit and providing financial data and insights to inform strategic decisions. To thrive in the role, finance business partners must be excellent communicators with the ability to understand the pain points of their business unit and help them understand complex financial information through user-friendly, jargon-free explanations. Common finance business partner responsibilities include:

• Providing insights that connect business strategies to financial reports statements
• Building strong, mutually beneficial relationships with colleagues in their specific business unit
• Achieving key commercial, financial, and operational targets by maintaining financial operations or implementing changes where necessary
• Communicating the financial performance of their business function to senior management
• Analysing business finance reports and highlighting areas to improve their impact

Median London salary
£75,000

What’s next?

Like the sound of a career in finance? Explore our latest finance jobs. Once you have identified the best finance jobs for you, check out our job interview tips, where you will find guidance on everything from making a great first impression to answering some of the most common interview questions. And don’t miss our in-depth guide to planning a finance career.