For the last couple of years finance change programmes have been dominated by contractors; the speed and ease of hiring provides flexible resources for programme directors in a landscape with enormous appetite for simultaneous change.
But finance change is now looking for talented individuals that can see further than just the project they’re on. Stability, long-term growth, personal development and investment in training are now top line priorities and this comes in the form of permanent members of staff.
The rapid reaction to the regulatory reforms imparted on the banks post September 2008 lead to exponential demand for change professionals and the speed of hire gave contractors the edge.
With strategic programmes being considered more carefully now, and in line with cost management, budget approval is now only given to business critical programmes of work. Further books of work still remain in the pipeline but are only coming online after the benefits are realised in the previously delivered project.
What does this mean now?
Permanent employees are having the opportunity to diversify their skill set – by proving themselves on one project they are being up-skilled and invited to assist in the delivery of the next project even if it’s not directly related to their previous experience.
Firstly, because the only major programmes that are in operation are business critical. They are visible to senior management and in some cases even to the executive board. Deliver at this level and your career will go places.
Secondly, there is better governance now. Templates are easier to use and more widely available; procedures are more rigid, training has improved knowledge and the stakeholders in BAU functions have seen the benefit of projects and are now more on board and supportive of change.
What does this mean for the next few years?
Simply put: more opportunities.
Permanent members of staff are working across more disciplines, meaning in the future they will have more positions open to them, have a diverse skill set and be marketable to a wider audience.
See below for the latest finance change salary data:
|Grade||Base salary (£)|
|Assistant vice president||70-85k|
If you would like to discuss the finance change market in more detail please contact your local office