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Navigating the Evolving UK Financial Crime Landscape: 2024/25 Salary & Recruitment Trends
The UK financial crime and fraud recruitment landscape in 2024 saw a blend of challenges and opportunities. While economic uncertainty and regulatory shifts have impacted the market, there are positive signs on the horizon.
Key Takeaways:
Cautious Optimism:
Hiring has been slower in recent times, but the market is poised for growth, driven by increased regulatory scrutiny and the authorisation of new firms.
Demand for Specialist Skills:
There's a persistent demand for experienced professionals, particularly in fraud prevention, AML, and KYC, as well as specialised areas like SAR controls and PEPs.
Internal Recruitment Challenges:
While businesses prioritise internal recruitment, this can hinder access to specialist skills and slow down hiring processes.
Flexible Working Remains Key:
95% of respondents work on a hybrid or completely remote basis, highlighting the importance of flexible working arrangements for attracting and retaining top talent.
Remuneration Dissatisfaction:
Two-thirds of respondents are dissatisfied with their current remuneration, indicating a significant opportunity for employers to attract and retain talent by offering competitive compensation packages.
What's Driving the Market?
Regulatory Pressure:
The FCA's increased scrutiny and enforcement actions are driving demand for skilled professionals to ensure compliance and mitigate risks.
Economic Uncertainty:
The UK's economic outlook and global uncertainties have led to cautious budgeting and hiring practices within financial institutions.
Internal Recruitment Focus:
Businesses are prioritising internal recruitment to cut costs, which can hinder access to specialist skills.
Flexible Working Demands:
Flexible working arrangements are a major demand in the market, with 91% of respondents stating it as a "must-have."
What Does This Mean for You?
If you're a Financial Crime Professional:
Understand the current market trends and your value proposition.
Research potential career moves and explore opportunities in high-growth areas.
Leverage your skills and experience to negotiate a competitive salary and benefits package.
If you're an Employer:
Attract and retain top talent by offering competitive compensation, flexible working arrangements, and opportunities for professional development.
Partner with specialist recruitment agencies to access the best talent and navigate the evolving market.
Prioritise DEI initiatives and create an inclusive and equitable workplace.
Download the Full Report
For a deeper dive into the 2024/25 Financial Crime & Fraud Salary & Recruitment Trends, including detailed data, insights, and expert commentary, download the full MERJE report here:
Looking for a new career in 2025? Or need to add new Financial Crime & Fraud professionals to your team? Get in touch with our experts:
London & South East - Pritesh Chudasama
North & Midlands - Andy Hodson
