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London perm salaries

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    London perm salaries

    With more and more people moving from contracting to perm I’d love to hear from people what sort of perm salaries they are considering and hearing in London and specifically finance

    Someone with 15 years experience front office computer science degree etc.

    I’ll start by saying in the old days the number used to be 100-120 for a vp plus bonus and pension.

    I’m sure things have changed and people will tell me 28k is the new salary but can we keep this discussion serious

    I’d also add that getting 650 a day outside which is what it used to be was always heaps better then 120k and I did decline perm roles at that number to stay in contract.

    Fortunately I am now outside Uk but do want to come back so preparing for what is the new normal

    #2
    120k seems great to me. I was looking at perm roles end of last year and seemed like most of the interest in my profile was around 60k with a little interest a little bit higher than that but no where near 120k. If I would have got 80k I probably would have went perm but I was able to get another outside contract(right before they delayed ir35 changes) at 500 pd. Last couple years I have been contracting around 500-550 in London. I have around 10 years experience, a technical undergraduate degree, 2 masters, and 5 IT certifications and still couldn't get 80k in perm role. I was looking at mostly BI roles so they just don't really go that high, there is a low ceiling. I'm sure developers will get a bit more and maybe 120k is possible there.

    **Edit**
    Sorry didn't see you were asking about finance, I am sure its quite possible in finance.

    Comment


      #3
      120K was the norm a few years ago

      The new norm is 60K remotely or 30K offshore

      Why on earth would bigCo pay 120K in these times


      Sent from my iPhone using Contractor UK Forum

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        #4
        I concur with the above: the new norm is £60k rising to £80k in senior cases. You'll hit the £100k if you have the latest tech or something big in demand, as was always the case.

        I remember the days when ABN Amro were looking for people with my skillset and paying £150k on perm role. It was 2001. Them was the days....

        Comment


          #5
          Originally posted by ChimpMaster View Post
          I concur with the above: the new norm is £60k rising to £80k in senior cases. You'll hit the £100k if you have the latest tech or something big in demand, as was always the case.

          I remember the days when ABN Amro were looking for people with my skillset and paying £150k on perm role. It was 2001. Them was the days....
          Yes, agreed. Also £650 a day is no longer the same take home as it was 20 years ago. You won’t save £125k a year after tax on that rate, no matter how hard you try.
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            #6
            I've no experience in Financial organisations barring one contract many years ago.

            £120k for a VP for a large corporate seems low to me. I was on that for a small ( 100 person) consultancy before moving to a larger organisation for more.

            Comment


              #7
              Not just IT - I'd say its similar across all disciplines in banking right now. VP level roles were paying £90-120k but now its around £60-75k with no bonuses.

              Then again, nobody is hiring so I guess its £0 at the moment.
              Last edited by sira; 13 September 2020, 10:02.

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                #8
                I was a contractor until the beginning of April on 600 a day outside IR35 but in my area the salaries for permanent roles seem to be around 60-80K, 100K is the absolute tops. Managed to get 80K plus 12.5% bonus which I was happy to take as there are hardly any outside contracts and inside you won't be earning hugely more than that to justify the contractor risk premium. Needs must and it's better than take home of 0.

                Comment


                  #9
                  Originally posted by plutocrat View Post
                  I was a contractor until the beginning of April on 600 a day outside IR35 but in my area the salaries for permanent roles seem to be around 60-80K, 100K is the absolute tops. Managed to get 80K plus 12.5% bonus which I was happy to take as there are hardly any outside contracts and inside you won't be earning hugely more than that to justify the contractor risk premium. Needs must and it's better than take home of 0.
                  This is very helpful. Thanks for sharing. Is this in London for a large corporation ( think Canary Wharf Citigroup for example ) and what industry are you in

                  Comment


                    #10
                    Originally posted by oracleslave View Post
                    I've no experience in Financial organisations barring one contract many years ago.

                    £120k for a VP for a large corporate seems low to me. I was on that for a small ( 100 person) consultancy before moving to a larger organisation for more.
                    A vp in finance is basically a middle manager looking after 10-20 people. It’s not an executive vp which is what you are thinking if

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