Salaries in London are 22 per cent higher than the national average, according to a recent salary guide. That’s despite the recent spate of layoffs and turmoil that has affected the wider tech and finance ecosystems.
While there are fewer vacancies for prospective job hunters, which reflects the level of uncertainty being felt across industries, in the December 2022 to February 2023 period, the estimated number of vacancies fell by 51,000 on the quarter to 1,124,000, according to the Office of National Statistics (ONS).
Growth did occur in paypackets, however, with the ONS reporting that average regular pay growth for the private sector was 7 per cent in November 2022 to January 2023––however, when adjusted for inflation, most workers will still feel a deficit in their spending power.
This year, smart workers will look to maximise their earning potential, both to stay ahead of inflation and the increasing cost of living. The good news is that, in London in particular, there are a number of high-paying job sectors to look towards, according to salary guide data. Here are five.
1. Financial Services
Unsparingly, Chief Financial Officer roles pay the most in London, with those with deep experience earning around £195,505 a year. Tax Accountants can earn up to £64,660, while a Qualified Financial Accountant can earn £67,100. Heads of Regulatory Reporting are looking at a top payment of £122,305.
A Money Laundering Reporting Officer (MLRO) can earn up to £177,510 at a senior level, whereas a Senior AML/Senior Onboarding Analyst is looking at about £71,370.
Salaries are particularly high in this sector both for leadership and C-suite positions as well as those with specific technical acumen. A Chief Information Officer (CIO) can earn up to £176,000, while an IT Director can earn £112,000. Cloud Infrastructure Engineers are looking at a top salary of £57,000 with Information Security Managers topping out at £88,000.
4. Data analytics
This growth sector offers high salaries as an attractor, with Data Engineers and Data Scientists looking at wages of £67,500 and £69,500, respectively. On the business intelligence side, a Business Intelligence Analyst can earn up to £51,500.
5. Digital marketing
Another area of strong growth, if you work in this sector, you could earn up to £104,500 as a Head of Digital. Digital Marketing Managers are looking at a top salary of £65,500, while those with SEO/PPC Specialist skills can earn up to £57,000.
If that has motivated you to look for a new job, there are three below which could be of interest, as well as thousands more on The London Economic Job Board.
Process Improvement Specialist, Zilch UK, London
Zilch is the world’s first commerce card, known for creating the Googlisation of payments.
It is looking to hire a Process Improvement Specialist to work to continually simplify, streamline, and improve processes and services. You will champion change at every opportunity, continuously looking to improve processes, through automation, process mapping and recommendations, change management or knowledge transfer. To apply, you will need proven ability to identify areas of improvement and implementation of change, the ability to build strong working relationships, ensuring project requirements and updates are clearly communicated and visible. Find the full job description here.
Credit Risk Oversight Manager, Monzo, London
The Credit Risk Oversight Manager will provide support to colleagues to help Monzo grow safely. You should have retail/business credit risk and/or compliance experience, and like getting into the details, analysing data and providing constructive challenges. You’ll support new credit product launches and closely follow Monzo’s first line of defence strategy to ensure lending products remain within the defined risk appetite. You should apply if you have experience of retail credit risk or business lending including industry practices for loans, overdrafts and other short-term lending products such as BNPL and are great at analysing data, building graphs and looking for early indicators of trends. Apply for this role here.
Director of Engineering, Citymapper, Remote
Citymapper makes cities usable, helping people move through urban spaces, and getting people from A to B. It is currently looking for a Director of Engineering for the backend as well as transport data departments. You should be a great direct line manager and support your team with technical guidance, helping them to be better engineers. Working closely with product managers you’ll ensure that the company is building what’s needed most, and you’ll shape the quarterly roadmap. Demonstrable experience leading a product-focused team and working directly with product managers is required. You’ll also need an ability to get stuck in––this role is for a hands-on engineering leader. Get more information here.
For more high-paying jobs, visit The London Economic Job Board today