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Powering
       the world of
       insurance
       A look at the
       year ahead
       Salary Guide 2012/2013




INS-5539_Insurance_Salary_Guide_A5.indd 1   31/05/2012 09:23
INTRODUCTION

                                                   Across the range of roles we recruit for               To attract top talent in 2012, it will be essential for
                                                   within underwriting, broking, claims and               organisations to run timely recruitment campaigns,
    CONTENTS                                                                                              make competitive offers and ensure benefits
                                                   risk management, we have not seen a                    packages are attractive.
                                                   considerable drop in the number of new
    Introduction                              1   vacancies. While some support functions                This market overview and salary guide combines
                                                                                                          information compiled from our database of
    Broker                                    2
                                                   to the industry have been affected by the              vacancies, discussions with our clients and the
                                                   trend towards outsourcing, this has not                expert knowledge of our consultants. It also
    Operations	                               6    been the case for technical positions in               includes results from our recent benefits survey.
                                                   these areas.                                           I hope you find the guide relevant, insightful and
    Claims                                   10
                                                                                                          useful for benchmarking, budgeting and resource
                                                   The greatest influence on recruitment in the
                                                                                                          planning.
    Underwriting                             14   insurance industry this year is likely to be the
                                                   ongoing impact of new rules and regulations.           Whatever your plans, I wish you all the best for
    Actuarial                                18                                                          the months ahead, and look forward to having the
                                                   Overall, the market remains cautious, many
                                                                                                          opportunity to work with you. Please feel free to
    Do your benefits measure up?	             22   insurance professionals are hesitant to move, and
                                                                                                          contact me to provide feedback or to discuss any
                                                   employers are taking longer to make recruitment
                                                                                                          recruitment related issues you may be encountering
                                                   decisions.
                                                                                                          at this time.
                                                   The insurance industry is still suffering from a
                                                   skills shortage and ongoing efforts are needed to
                                                   encourage young people and graduates to consider
                                                   insurance as a career option. Despite these skills
                                                   shortages and continued economic uncertainty,
                                                   good opportunities still remain especially for those
                                                   with niche skills.                                     Lloyd Rosenthal
                                                                                                          Director, Hays Insurance
                                                   Skilled actuarial professionals are in high demand
                                                                                                          E lloyd.rosenthal@hays.com
                                                   as businesses prepare for the implementation of
                                                                                                          T 020 3465 0145
                                                   Solvency II. Project and change managers continue
                                                   to be sought after to oversee large scale projects,
                                                   needed to prepare for new regulations, and
                                                   support organisations going through periods of
                                                   transformation and change.
                                                   Risk and compliance managers are also finding
                                                   themselves in high demand as a reaction both to
                                                   the current economic climate and new regulations,
                                                   with many organisations taking on their own in-
                                                   house risk specialists.




                                                                                                                                     Hays Insurance Salary Guide 2012 | 1




INS-5539_Insurance_Salary_Guide_A5.indd 2-1                                                                                                                  31/05/2012 09:23
A guide to salaries within the broker industry
                                                                                  North East (£ p/a)   North West (£ p/a)         Midlands (£ p/a)

                                                         Account Executive          35,000-50,000        35,000-50,000              35,000-50,000

                                                         Account Handler            20,000-35,000        20,000-35,000               17,000-28,000

                                                         Account Manager            27,000-35,000        27,000-35,000              25,000-35,000

                                                         Branch Director            45,000-60,000        45,000-60,000               55,000-75,000



    BROKer                                               Branch Manager

                                                         Broker
                                                                                    40,000-50,000

                                                                                    28,000-38.000
                                                                                                         40,000-50,000

                                                                                                         28,000-38.000
                                                                                                                                    50,000-75,000

                                                                                                                                    22,000-30,000

                                                         Business Developer         35,000-60,000        35,000-60,000              35,000-60,000
    Generally speaking there is a lack of
    experienced specialist candidates in the             CEO                       110,000-130,000       110,000-130,000           120,000-150,000

    insurance market, which has enabled                  Corporate Broker           35,000-45,000        35,000-45,000              30,000-40,000
    salaries to remain high.
                                                         Development Executive      40,000-60,000        40,000-60,000              35,000-45,000
    Employers do have high expectations and
    prefer new hires to be working towards or have       Managing Director          60,000-85,000        60,000-85,000              70,000-95,000
    achieved ACII or equivalent, although increasingly
    employers are putting more value on relevant and     New Business
    technical experience.                                                           35,000-60,000        35,000-60,000              35,000-55,000
                                                         Account Executive
    Demand for business developers and key account
                                                         Private Client Manager     30,000-45,000        30,000-45,000              30,000-40,000
    managers rarely dips and over the last year, those
    who can demonstrate an ability to open up new
    revenue streams or safeguard existing lucrative
    business have seen their stock rise.
    Those who can hit the ground running, even
    with restrictive covenants to contend with, are
    frequently finding themselves facing the happy
    dilemma of weighing up multiple job offers.
    As brokers re-focus on building market share,
    candidates with excellent account management
    and handling skills are sought after by both the
    large and small brokerages.
    Smaller brokerages have, to some extent, been
    able to counter-act the bigger salaries on offer
    at the large corporates by offering candidates
    greater flexibility and better work-life balance.

    2 | Hays Insurance Salary Guide 2012                                                                                    Hays Insurance Salary Guide 2012 | 3




INS-5539_Insurance_Salary_Guide_A5.indd 2-3                                                                                                         31/05/2012 09:23
Broker                                                                                             Broker
                                           SOUTH WEST (£ p/a)   SOUTH EAST (£ p/a)   LONDON (£ p/a)                             NORTHERN IRELAND (£ p/a)   SCOTLAND (£ p/a)            WALES (£ p/a)

     Account Executive                       30,000-45,000        35,000-50,000      45,000-65,000     Account Executive              31,500-45,000         31,500-45,000              31,500-45,000

     Account Handler                         16,000-28,000        18,000-35,000      30,000-45,000     Account Handler                15,300-25,200         15,300-25,200              15,300-25,200

     Account Manager                         25,000-35,000        25,000-40,000      35,000-60,000     Account Manager               22,500-36,000          22,500-36,000              22,500-36,000

     Branch Director                         50,000-65,000        55,000-75,000      85,000-125,000    Branch Director               49,500-67,500          49,500-67,500              49,500-67,500

     Branch Manager                          40,000-55,000        45,000-65,000      75,000-110,000    Branch Manager                45,000-55,000          50,000-65,000              45,000-55,000

     Broker                                  25,000-30,000        25,000-35,000       35,000-75,000    Broker                         17,000-25,000         20,000-28,000              15,000-25,000

     Business Developer                      35,000-50,000        35,000-50,000      45,000-85,000     Business Developer             31,500-54,000         32,000-56,000              31,500-54,000

     CEO                                    100,000-150,000      110,000-150,000     150,000-250,000   CEO                           85,000-120,000         90,000-130,000            85,000-120,000

     Corporate Broker                        30,000-50,000        35,000-65,000      45,000-75,000     Corporate Broker              27,000-45,000          27,000-45,000              27,000-45,000

     Managing Director                       70,000-90,000       80,000-100,000      100,000-150,000   Development Executive          31,500-40,500         31,500-40,500              31,500-40,500

     Private Client Manager                  25,000-40,000       30,000-45,000       45,000-65,000     Managing Director             60,000-85,000          65,000-90,000              60,000-85,000

                                                                                                       New Business
                                                                                                                                      31,500-40,500         31,500-45,000              31,500-40,500
                                                                                                       Account Executive

                                                                                                       Private Client Manager         27,000-31,500         27,000-31,500              27,000-31,500




    4 | Hays Insurance Salary Guide 2012                                                                                                                                      Hays Insurance Salary Guide 2012 | 5




INS-5539_Insurance_Salary_Guide_A5.indd 4-5                                                                                                                                                           31/05/2012 09:23
A guide to salaries within operations
                                                                                      NORTH EAST (£ p/a)   NORTH WEST (£ p/a)         MIDLANDS (£ p/a)

                                                           Business Analyst/
                                                                                        25,000-30,000        22,500-30,000              25,000-30,000
                                                           Strategist



    OPERATIONS
                                                           Chief Operating Officer      70,000-90,000        70,000-90,000              70,000-90,000

                                                           Compliance Officer/
                                                                                        33,000-45,000        33,000-50,000              50,000-75,000
                                                           Manager

                                                           Compliance Assistant         25,000-35,000        25,000-35,000              25,000-35,000
    Insurance professionals with strong
                                                           MI Analyst                   35,000-50,000        35,000-50,000              35,000-50,000
    experience in key operational roles, such
    as risk management, compliance, analysis               MI Manager                   50,000-60,000        50,000-60,000              50,000-60,000
    and pricing have seen a rise in demand
                                                           Enterprise Risk
    for their skills over the last year.                   Management
                                                                                        40,000-60,000        40,000-60,000              40,000-60,000

    On the whole, insurance companies have been
                                                           In-house Insurance           30,000-50,000        30,000-50,000              30,000-50,000
    revisiting their staffing structures with gradual
    growth, rather than simply survival in mind.           Operations Manager           40,000-55,000        40,000-55,000              50,000-65,000
    Many employers, most notably brokerages and
    underwriting organisations, have shown a greater       Operations Director          65,000-90,000        65,000-90,000              65,000-90,000
    interest in recruiting candidates with strong
    analytical and IT skills. Business, MI and pricing     Pricing Analyst              35,000-45,000        35,000-45,000              35,000-45,000
    analysts have been in high demand, as companies
    seek to align cost bases and pricing structures to     Pricing Manager              50,000-60,000        50,000-60,000              50,000-60,000
    optimise profitability whilst remaining competitive.
                                                           Project Manager              40,000-60,000        40,000-60,000              40,000-60,000
    The regulatory area of the insurance market
    continues to grow and we are seeing an increasing      Risk Analyst                 32,000-50,000        32,000-50,000              32,000-50,000
    number of new compliance roles across the
    board. Companies are bolstering measures to            Risk Manager                 45,000-65,000        45,000-65,000              45,000-65,000
    remain on the right side of the regulators and are
                                                           Operational Risk Manager     45,000-65,000        45,000-65,000              45,000-65,000
    acutely aware of the financial and reputational
    penalties of failing to do so. In particular, the
                                                           Statistician                 25,000-35,000        25,000-35,000              25,000-35,000
    ongoing and extended Solvency II implementation
    projects continue to provide a lucrative market for    Training  Competency        40,000-50,000        40,000-50,000              40,000-50,000
    contractors. With the SII deadline now extended to
    2014, the demand for contractors will continue to
    remain high. Overall, salary levels have remained
    fairly static in the operational world, although the
    contractor market can and does offer well in excess
    of the equivalent sums that are paid for permanent
    roles.



    6 | Hays Insurance Salary Guide 2012                                                                                        Hays Insurance Salary Guide 2012 | 7




INS-5539_Insurance_Salary_Guide_A5.indd 6-7                                                                                                             31/05/2012 09:23
Operations                                                                                         Operations

                                           SOUTH WEST (£ p/a)   SOUTH EAST (£ p/a)   LONDON (£ p/a)                               NORTHERN IRELAND (£ p/a)   SCOTLAND (£ p/a)            WALES (£ p/a)

      Business Analyst/                                                                                Business Analyst/
                                             22,500-30,000        22,500-30,000      35,000-50,000                                     22,500-27,000          22,500-27,000              22,500-27,000
      Strategist                                                                                       Strategist

      Chief Operating Officer                70,000-90,000        70,000-90,000      100,000-150,000   Chief Operating Officer         63,000-81,000          63,000-81,000              63,000-81,000

      Compliance Officer/                                                                              Compliance Officer/
                                             45,000-60,000        45,000-60,000      58,000-80,000                                     40,500-54,000          40,500-54,000              40,500-54,000
      Manager                                                                                          Manager

      Compliance Assistant                   25,000-35,000        25,000-35,000      25,000-40,000     Compliance Assistant             22,500-31,500          22,500-31,500              22,500-31,500

      MI Analyst                             35,000-50,000        35,000-50,000      40,000-60,000     MI Analyst                      35,000-50,000          35,000-50,000              35,000-50,000

      MI Manager                             50,000-60,000        50,000-60,000      60,000-80,000     MI Manager                      50,000-60,000          50,000-60,000              50,000-60,000

      Enterprise Risk                                                                                  Enterprise Risk
                                             40,000-60,000        40,000-60,000      50,000-85,000                                     36,000-54,000          36,000-54,000              36,000-54,000
      Management                                                                                       Management

      In-house Insurance                     30,000-50,000        30,000-50,000      80,000-150,000    In-house Insurance              27,000-45,000          27,000-45,000              27,000-45,000

      Operations Manager                     40,000-55,000        40,000-55,000      60,000-90,000     Operations Manager              45,000-58,500          45,000-58,500              45,000-58,500

      Operations Director                    65,000-90,000        65,000-90,000      100,000-130,000   Operations Director              58,500-81,000         58,500-81,000              58,500-81,000

      Pricing Analyst                        35,000-45,000        35,000-45,000      45,000-55,000     Pricing Analyst                  31,500-40,500         31,500-40,500              31,500-40,500

      Pricing Manager                        50,000-60,000        50,000-60,000      65,000-85,000     Pricing Manager                 45,000-54,000          45,000-54,000              45,000-54,000

      Project Manager                        40,000-60,000        40,000-60,000      65,000-100,000    Project Manager                 36,000-54,000          36,000-54,000              36,000-54,000

      Risk Analyst                           32,000-50,000        32,000-50,000      35,000-65,000     Risk Analyst                    32,000-50,000          32,000-50,000              32,000-50,000

      Risk Manager                           45,000-65,000       45,000-65,000       65,000-90,000     Risk Manager                    40,500-58,500          40,500-58,500              40,500-58,500

      Operational Risk Manager               45,000-65,000       45,000-65,000       65,000-110,000    Operational Risk Manager        40,500-58,500          40,500-58,500              40,500-58,500

      Statistician                           25,000-35,000        25,000-35,000      45,000-65,000     Statistician                     22,500-31,500          22,500-31,500              22,500-31,500

      Training  Competency                  40,000-50,000       40,000-50,000       55,000-65,000     Training  Competency           36,000-45,000          40,000-50,000             36,000-45,000




    8 | Hays Insurance Salary Guide 2012                                                                                                                                        Hays Insurance Salary Guide 2012 | 9




INS-5539_Insurance_Salary_Guide_A5.indd 8-9                                                                                                                                                             31/05/2012 09:23
A guide to salaries within claims
                                                                                                                                          North East (£ p/a)   North West (£ p/a)          Midlands (£ p/a)

                                                                                                               Claims Adjustor/Assessor     20,000-25,000        20,000-32,000               20,000-32,000

                                                                                                               Claims Broker                20,000-30,000        20,000-30,000               18,000-26,000

                                                                                                               Claims Controller            40,000-45,000        40,000-45,000               40,000-45,000

                                                                                                               Claims Negotiator/
                                                                                                                                            15,000-27,000        15,000-30,000               15,000-30,000
                                                                                                               Handler

                                                                                                               Claims Manager               30,000-55,000        35,000-60,000               35,000-60,000

                                                                                                               Claims Technician            15,000-25,000        15,000-30,000               15,000-30,000

                                                                                                               Claims Director              55,000-75,000        60,000-80,000               60,000-80,000

                                                                                                               Head of Claims               65,000-85,000        65,000-85,000               65,000-85,000

                                                                                                               Domestic Adjuster            20,000-32,000        20,000-32,000               15,000-25,000

                                                                                                               Internal Adjuster            18,000-25,000        18,000-25,000               15,000-25,000

                                                                                                               Liability Adjuster           25,000-45,000        25,000-45,000               22,000-32,000

                                                                                                               Loss Adjuster                30,000-40,000        30,000-45,000               30,000-45,000

                                                                                                               Risk Surveyor                35,000-50,000        35,000-50,000               30,000-45,000




    CLAIMS
                                                                                                               Surveyor                     30,000-40,000        30,000-45,000               30,000-45,000




    The impact of the recession is slowly                more successfully. This has marked the beginning
    moving on in the insurance claims                    of the modernisation process which is set to
                                                         continue throughout 2012.
    market. There is a consensus in terms of
    modernising claims handling, that the                The majority of mainstream claims recruitment
                                                         in the UK continues to be within commercial liner
    UK market has come a long way in a
                                                         teams. The demand for personal lines staff is still
    short time.                                          gradually falling, however the demand remains
    One modernisation to note is the introduction of     high for experienced loss adjusters as companies
    the electronic claims file system. Some particular   strive to strike a balance between protecting their
    benefits achieved to date are the reduction in       revenues and maintaining a reputation for fairness.
    settlement times and the ability to track claims


    10 | Hays Insurance Salary Guide 2012                                                                                                                                           Hays Insurance Salary Guide 2012 | 11




INS-5539_Insurance_Salary_Guide_A5.indd 10-11                                                                                                                                                                31/05/2012 09:23
Claims                                                                                          Claims
                                        SOUTH WEST (£ p/a)   SOUTH EAST (£ p/a)   LONDON (£ p/a)                               NORTHERN IRELAND (£ p/a)   SCOTLAND (£ p/a)            WALES (£ p/a)

     Claims Adjustor/Assessor               20,000-30,000      25,000-35,000      30,000-40,000     Claims Adjustor/Assessor        20,000-30,000          22,000-32,000              20,000-30,000

     Claims Broker                          20,000-30,000      25,000-35,000      35,000-65,000     Claims Broker                   20,000-30,000          22,000-32,000              20,000-30,000

     Claims Controller                      35,000-55,000      40,000-60,000      55,000-75,000     Claims Controller               30,000-45,000          35,000-50,000              30,000-45,000

     Claims Negotiator/                                                                             Claims Negotiator/
                                            16,000-30,000      18,000-35,000      35,000-65,000                                     16,000-30,000          16,000-32,000              16,000-30,000
     Handler                                                                                        Handler

     Claims Manager                         45,000-55,000      55,000-75,000      50,000-85,000     Claims Manager                  30,000-40,000          35,000-50,000              30,000-40,000

     Claims Technician                      20,000-35,000      25,000-40,000      30,000-50,000     Claims Technician               20,000-30,000          22,000-32,000              20,000-30,000

     Claims Director                        55,000-75,000      65,000-85,000      75,000-125,000    Claims Director                 50,000-70,000          55,000-75,000              50,000-70,000

     Head of Claims                         60,000-85,000      75,000-100,000     125,000-150,000   Head of Claims                  60,000-80,000          65,000-85,000              60,000-80,000

     Domestic Adjuster                      20,000-35,000      25,000-45,000      40,000-60,000     Domestic Adjuster                17,000-27,000          17,000-27,000              17,000-27,000

     Internal Adjuster                      16,000-25,000      18,000-30,000      28,000-45,000     Internal Adjuster               15,000-25,000          15,000-25,000               15,000-25,000

     Liability Adjuster                     20,000-35,000      25,000-45,000      55,000-75,000     Liability Adjuster              22,000-28,000          22,000-32,000              22,000-28,000

     Loss Adjuster                          25,000-40,000      25,000-45,000      35,000-60,000     Loss Adjuster                   25,000-35,000          25,000-40,000              25,000-35,000

     Risk Surveyor                          25,000-40,000      25,000-45,000      45,000-65,000     Risk Surveyor                   25,000-35,000          25,000-40,000              25,000-35,000

     Surveyor                               25,000-40,000      25,000-45,000      35,000-55,000     Surveyor                        25,000-35,000          25,000-40,000              25,000-35,000




    12 | Hays Insurance Salary Guide 2012                                                                                                                                    Hays Insurance Salary Guide 2012 | 13




INS-5539_Insurance_Salary_Guide_A5.indd 12-13                                                                                                                                                         31/05/2012 09:23
A guide to salaries within underwriting
                                                                                                                                             NORTH EAST (£ p/a)   NORTH WEST (£ p/a)          MIDLANDS (£ p/a)

                                                                                                                   Broker Developer            35,000-55,000        35,000-55,000               35,000-50,000

                                                                                                                   Business Developer          30,000-55,000        30,000-55,000               30,000-45,000

                                                                                                                   Key Account Manager         40,000-60,000        40,000-60,000               35,000-50,000

                                                                                                                   Class Underwriter           25,000-35,000        25,000-35,000               25,000-35,000

                                                                                                                   Development Underwriter     40,000-55,000        40,000-55,000               35,000-45,000

                                                                                                                   Head of Underwriting        60,000-80,000        60,000-80,000              70,000-100,000

                                                                                                                   Lead Underwriter            30,000-40,000        30,000-40,000               30,000-40,000

                                                                                                                   Managing Director           60,000-90,000        60,000-90,000              65,000-100,000

                                                                                                                   Package Underwriter         22,000-30,000        22,000-30,000               20,000-25,000

                                                                                                                   Trading Underwriter         28,000-45,000        28,000-45,000               25,000-35,000


    UNDERWRITING                                                                                                   Underwriter

                                                                                                                   Underwriting Analyst
                                                                                                                                               22,000-30,000

                                                                                                                                               20,000-25,000
                                                                                                                                                                    22,000-30,000

                                                                                                                                                                    20,000-25,000
                                                                                                                                                                                                18,000-25,000

                                                                                                                                                                                                20,000-25,000

    There is still a high demand for specialist            There is a real need for underwriters with these key    Underwriting Assistant      16,000-22,000        16,000-22,000               16,000-22,000
    high calibre underwriters within niche                 skills, which enables candidates of this calibre to
                                                           negotiate for higher salaries and benefits.             Underwriting Manager        45,000-60,000        45,000-60,000               40,000-50,000
    areas, such as marine, accident and
    health, director and officer and in                    As momentum in the job market picks up, talented        Underwriting Technician     20,000-25,000        20,000-25,000               20,000-25,000
                                                           underwriters who had previously put their career
    particular for those individuals and
                                                           moves on hold during the recession, are now
    teams with a book of business.                         noticeably more confident about looking around.
    Salaries are still on the increase for specialist      And they have good reason, it’s not unknown for
    underwriters as this is very much a candidate driven   firms to pay a sizeable proportion of anticipated
    market. In many instances employers have even          earnings (in one or two extreme cases, the entire
    been prepared to create positions for applicants       annual salary) upfront, such is the difference that a
    where no vacancies previously existed.                 good underwriter can make to the bottom line.

    In recent years a new breed of underwriters have
    emerged in the shape of a trading/development
    underwriter. This is someone who is not only
    technically sound but offers the right trading
    abilities to write and secure profitable business in
    this competitive market.

    14 | Hays Insurance Salary Guide 2012                                                                                                                                              Hays Insurance Salary Guide 2012 | 15




INS-5539_Insurance_Salary_Guide_A5.indd 14-15                                                                                                                                                                   31/05/2012 09:24
Underwriting                                                                                    Underwriting
                                        SOUTH WEST (£ p/a)   SOUTH EAST (£ p/a)   LONDON (£ p/a)                              NORTHERN IRELAND (£ p/a)   SCOTLAND (£ p/a)            WALES (£ p/a)

     Broker Developer                       30,000-50,000      35,000-65,000      45,000-85,000     Broker Developer                31,500-45,000         31,500-48,000               31,500-45,000

     Business Developer                     40,000-55,000      40,000-55,000      45,000-75,000     Business Developer             27,000-40,500          30,000-45,000              27,000-40,500

     Key Account Manager                    35,000-50,000      35,000-55,000      50,000-75,000     Key Account Manager             31,500-45,000         34,000-48,000               31,500-45,000

     Class Underwriter                      20,000-35,000      45,000-55,000      90,000-150,000    Class Underwriter               22,500-31,500         24,000-34,000               22,500-31,500

     Development Underwriter                35,000-45,000      35,000-50,000      45,000-70,000     Development Underwriter        31,500-40,000          35,000-45,000              31,500-40,000

     Head of Underwriting                   65,000-100,000     85,000-115,000     120,000-175,000   Head of Underwriting           63,000-75,000          63,000-90,000              63,000-75,000

     Managing Director                      65,000-100,000     85,000-125,000     150,000-250,000   Lead Underwriter               27,000-49,500          28,000-52,000              27,000-49,500

     Package Underwriter                    20,000-27,000      22,000-30,000      35,000-55,000     Managing Director              58,500-85,000          60,000-90,000              58,500-85,000

     Trading Underwriter                    25,000-35,000      25,000-45,000      65,000-85,000     Package Underwriter             18,000-22,500         18,000-22,500               18,000-22,500

     Underwriter                            20,000-30,000      20,000-35,000      35,000-65,000     Trading Underwriter             22,500-31,500         24,000-34,000               22,500-31,500

     Underwriting Analyst                   18,000-25,000      18,000-25,000      30,000-50,000     Underwriter                     16,200-22,500         18,000-24,000               16,200-22,500

     Underwriting Assistant                 18,000-25,000      18,000-25,000       25,000-35,000    Underwriting Analyst            18,000-22,500         20,000-25,000               18,000-22,500

     Underwriting Manager                   40,000-65,000      65,000-85,000      85,000-120,000    Underwriting Assistant          14,400-19,800         15,000-25,500               14,400-19,800

     Underwriting Technician                18,000-25,000      18,000-25,000       25,000-35,000    Underwriting Manager           36,000-58,500          40,000-60,000              36,000-58,500

                                                                                                    Underwriting Technician         18,000-22,500         20,000-25,000               18,000-22,500




    16 | Hays Insurance Salary Guide 2012                                                                                                                                   Hays Insurance Salary Guide 2012 | 17




INS-5539_Insurance_Salary_Guide_A5.indd 16-17                                                                                                                                                        31/05/2012 09:24
Actuarial
    Over the past few years natural disasters
                                                           A guide to salaries within actuarial
    such as the Japanese earthquake and
                                                                               NORTH EAST (£ p/a)   NORTH WEST (£ p/a)          MIDLANDS (£ p/a)
    tsunami, the earthquake and subsequent
    hurricanes in Haiti and the floods and                 Analyst               26,000-36,500        26,000-36,500                27,000-37,000
    fires that blighted Australia’s east coast
                                                           Student Actuary       31,000-46,000        31,000-46,000               32,000-47,000
    and southern states have been regular
    reminders of the capacity of the planet to             Senior Student        40,000-62,000        40,000-62,000                41,000-63,500
    strike forcefully, without warning and with
                                                           Manager               54,000-92,000        54,000-92,000               55,000-93,000
    lasting financial consequences alongside
    the more obvious humanitarian costs.                   Senior Manager        80,000-126,500       80,000-126,500              81,000-132,500
    One-off events attributed to human activity, such as
                                                           Director              110,000-175,000      110,000-175,000             115,000-178,500
    Chile’s copper mine cave-in and rescue mission, the
    more tragic outcomes of mining disasters in New        Associate Partner     155,000-287,500      155,000-287,500            155,000-299,000
    Zealand and China, and BP’s Deepwater Horizon
    explosion and subsequent oil spill, add                Partner                  259,000+             259,000+                    269,000+
    to a litany that has kept insurers and reinsurers
    pre-occupied.
                                                                               SOUTH WEST (£ p/a)   SOUTH EAST (£ p/a)           LONDON (£ p/a)
    Just how critical sophisticated catastrophe
    modelling techniques are, along with the actuaries     Analyst               26,000-35,500        29,000-40,500               35,000-50,000
    who devise and build them, is illustrated by the
                                                           Student Actuary       31,000-46,000        35,000-51,000               30,000-45,000
    packages on offer to top-quartile people, and by
    the extent to which some employers will bulldoze
                                                           Senior Student        40,000-62,000        44,000-75,000               45,000-83,000
    through otherwise non-negotiable pre-set salary
    bandings to keep them onboard.                         Manager               54,000-92,000        65,000-104,500             60,000-100,000
    With risk management heading up the boardroom
                                                           Senior Manager        80,000-126,500       91,000-138,000              85,000-144,000
    agenda throughout the insurance sector, actuaries
    who acquired Solvency II experience from the           Director              110,000-175,000      120,000-184,000            125,000-195,500
    outset can today command generous daily rates for
    contract roles. Those in permanent positions can       Associate Partner     152,000-287,500      160,000-316,500            170,000-316,500
    almost certainly rely on being made a handsome
    counter-offer should they move jobs, although this     Partner                  259,000+             274,500+                    284,500+
    is in turn making employers look more closely for a
    firm commitment in the selection process.
    Lloyd’s syndicates and underwriters in London have
    all continued to recruit into their actuarial teams.
    However, they face increasing competition from
    professional services firms including the consulting
    arms of the Big 4 accounting firms.




    18 | Hays Insurance Salary Guide 2012                                                                                Hays Insurance Salary Guide 2012 | 19




INS-5539_Insurance_Salary_Guide_A5.indd 18-19                                                                                                     31/05/2012 09:24
Actuarial                                                                                          Actuarial

                                    NORTHERN IRELAND (£ p/a)    SCOTLAND (£ p/a)     WALES (£ p/a)                                   SOUTH WEST (£ p/a)      SOUTH EAST (£ p/a)           LONDON (£ p/a)

     Analyst                                26,500-34,500        28,000-36,500       27,000-34,500     Graduate                        21,000-30,000           25,000-35,500               25,000-37,000

     Student Actuary                        31,500-44,000        32,000-46,000       31,500-45,500     Actuarial Analyst               26,000-46,000           31,000-49,500               32,000-52,000

     Senior Student                         40,000-60,000        40,000-63,000       40,500-59,000     Senior Actuarial Analyst        40,000-58,500           43,000-68,000                45,000-71,500

     Manager                                53,000-89,500        56,000-92,000       54,000-85,000     Manager                          51,000-78,000          59,000-84,000               62,000-92,000

     Senior Manager                         78,000-123,000       83,000-127,000      80,000-126,500    Senior Manager                  68,000-93,000           73,000-100,000              80,000-109,500


     Director                               110,000-172,500      112,500-176,500     110,000-173,500   Head of department              81,000-110,500          87,000-121,000              95,000-138,000

                                                                                                       Director/Deputy Chief
     Associate Partner                      155,000-281,500      156,000-291,000    154,000-284,000                                    96,000-148,500         105,000-167,000             120,000-184,000
                                                                                                       Actuary

     Partner                                   253,500+             259,000+           256,000+        Chief Actuary                      148,500+                167,000+                     184,000+


                                        NORTH EAST (£ p/a)     NORTH WEST (£ p/a)   MIDLANDS (£ p/a)                              NORTHERN IRELAND (£ p/a)   SCOTLAND (£ p/a)              WALES (£ p/a)

     Graduate                               21,000-30,000        21,000-30,000       22,000-32,000     Graduate                         21,500-29,500          23,000-32,000                21,000-28,500

     Actuarial Analyst                      26,000-46,000        26,000-46,000       28,000-46,000     Actuarial Analyst               26,500-46,500           28,000-47,000               26,500-46,000

     Senior Actuarial Analyst               40,000-58,500        40,000-58,500       40,000-60,000     Senior Actuarial Analyst        40,500-58,500           41,000-59,500               40,000-58,500

     Manager                                51,000-78,000        51,000-78,000       52,000-80,500     Manager                          51,500-77,500          52,000-81,000                51,000-78,500

     Senior Manager                         68,000-93,000        68,000-93,000       70,000-96,500     Senior Manager                  68,000-90,000           69,000-96,000               68,500-93,000

     Head of department                     81,000-110,500       81,000-110,500      84,000-116,000    Head of department              81,500-108,500          81,000-110,000              82,500-105,000

     Director/Deputy Chief                                                                             Director/Deputy Chief
                                            96,000-148,500       96,000-148,500     101,000-160,000                                    96,500-149,500          96,000-152,000              95,500-149,500
     Actuary                                                                                           Actuary

     Chief Actuary                             148,500+             148,500+            160,000+       Chief Actuary                      148,500+                151,000+                     147,500+




    20 | Hays Insurance Salary Guide 2012                                                                                                                                         Hays Insurance Salary Guide 2012 | 21




INS-5539_Insurance_Salary_Guide_A5.indd 20-21                                                                                                                                                              31/05/2012 09:24
DO YOUR BENEFITS
   MEASURE UP?
                                                              but only 50% actually receive one.                      Which of the following do you find important                     Which benefits are most important to you and
                                                                                                                      when considering a new role?                                     what do you currently receive?
                                                              Employees feel they are increasingly faced with
    In April 2012 we surveyed 300 insurance                   bigger workloads, with limited or no increase
                                                                                                                                                                 High salary                                              Important to employees
                                                              in remuneration due to pay freezes and salary                          7%
    professionals across the UK to gauge                      benchmarking, which is prevalent across most of
                                                                                                                                     4      11                   Good pension                                             Employees currently receive
    their thoughts on the employment                          the insurance sector. Many employees state that            17%
                                                                                                                         24
                                                                                                                                                                 Good bonus            Share incentives
    market and current benefits offered in                    the increased workload is limiting how much time                                             38%   Flexible benefits             44%             16%
    the sector.                                               is spent on developing key skills and studying for                                                 C
                                                                                                                                                                  hallenging role/    Contributory pension
                                                              industry qualifications. This is important as 16% of                                               projects                        54%                         50%
    Our survey looks at how employees feel about their        employees rated career development opportunities          16%
                                                                                                                                                                 Flexible working
                                                                                                                                                                                      Non-contributory pension
    present situation, what their outlook for the future is   highly when considering a new role – this is the                                  61    4%
                                                                                                                                                                 options                     41%             27%
    and the importance of different benefits. Responses       third most valued benefit after high salary and                  4%         11%
                                                                                                                                                                 Career development
                                                                                                                                                                 
    from employees and employers were compared and            job security.                                                                               1%
                                                                                                                                                                                       Performance-related bonus
                                                                                                                                                     2%
                                                                                                                                                                 opportunity
    the results and comments gathered have allowed                                                                                                                                                  70%                               50%
                                                                                                                                                                 Job security
    us to draw valuable industry insight, which we are        For high calibre insurance professionals, with strong                                                                    Flexible benefits package
    pleased to be able to share with you.                                                                                                                        Other
                                                              technical backgrounds and business acumen,                                                                                           59%                     31%
                                                              the market remains balanced in their favour as                                                                           Health insurance
    Employees                                                 companies compete to attract the best talent.                                                                                       56%                           48%
                                                              Our survey indicates 77% are satisfied with their                                                                        Life insurance
    Insurance professionals rated which benefits they         overall current benefits package, however this only     How satisfied are you with your existing                                     56%                          48%
    consider most important when considering a new            shows more is needed to be done by employers            benefits package?                                                25 days+ annual leave
    role. Unsurprisingly receiving a high salary topped       to retain staff as our results show 69% plan on
    the list with 38%, followed by job security and                                                                                                                                             49%                       42%
                                                              searching for a new role in the next 12 months.
    career development opportunities as second and            Our findings show employers need to address and                                                    Very satisfied
                                                                                                                                                                                       Paid overtime / Time off in lieu
                                                                                                                                                7%
    third most valued offerings when job searching.                                                                                                                                                   74%                                  59%
                                                              review their current offerings and benefit packages              15%
                                                                                                                                                                 Fairly satisfied
                                                              in order to attract and successfully retain the right                                                                    Training support
                                                                                                                                                                 Fairly dissatisfied
    When looking at current benefits offered the ones         expertise in their organisations.                                                                                                  47%            10%
    which were considered most important are flexible                                                                                                            Very dissatisfied
                                                                                                                                                                                       Flexible working
    working, bonuses and 25 days + annual leave. For                                                                    26%                                                                       57%                     30%
    the most part there are significant discrepancies
                                                                                                                                                                                       Company car / Car allowance
    between what employees consider important                 Do you feel there is scope for progression within                                           51%
                                                                                                                                                                                                 61%                         34%
    as part of an overall benefits package and what           your organisation?
    their employers actually provide. This is with the                                                                                                                                 Joining bonus / incentive
    exception of pension’s contribution, life insurance                                                                                                                                     29%       16%
    and health insurance which are benefits that                                                                                                                                       Season ticket loan
    employers offer and employees also value highly                                                                                                                                        25%     6%
    as part of their package. The biggest gap lies in                                                                                                                                  Gym membership
    performance related bonuses of which 70% of                                                                                                                                           28%       24%
    people surveyed want a performance related bonus                 54%
                                                                                                                                                                                       Generous parental benefits
                                                                                                46%                                                                                        27%      15%
                                                                                                                                                                                       Discounts on products / services
                                                                                                                                                                                          22% 6%
                                                                                                                                                                                       Support for external qualifications
                                                                                                                                                                                          26%           30%


    22 | Hays Insurance Salary Guide 2012                                                                                                                                                                            Hays Insurance Salary Guide 2012 | 23




INS-5539_Insurance_Salary_Guide_A5.indd 22-23                                                                                                                                                                                                 31/05/2012 09:24
Employers                                              Which benefit do you feel has had the greatest
                                                                                                       impact upon recruitment and retention?
                                                We asked employers which benefits they felt had
                                                the greatest impact on recruitment and retention
                                                and the top three were performance related
                                                bonuses, flexible working and training support.        Share incentives
                                                These findings draw a parallel to the results from       4%
                                                employees when asked which the most important          Contributory pension
                                                benefits to them were.                                         11%
                                                                                                       Non-contributory pension
                                                One key discrepancy is that employees’ value             4%
                                                having 25+ days annual leave as the most important
                                                                                                       Individual performance-related bonus
                                                benefit to them. This benefit was not noted by
                                                                                                                                 32%
                                                employers as being important in retaining or
                                                recruiting staff. Employers should also note that      Flexible benefits package
                                                despite a significant number offering discounts on            9%
                                                products/ services this isn’t seen as an incentive     Health insurance
                                                to employees although this is offered by many           2%
                                                organisations.                                         25 days+ annual leave
                                                                                                         4%
                                                72% of employers state they have the necessary
                                                                                                       Training support (financial/non financial)
                                                talent to provide growth within their company,                9%
                                                but 54% of employees feel there is no scope for
                                                                                                       Flexible working (eg. flexi-time, home working etc.)
                                                progression within their current role. Employers
                                                                                                                         21%
                                                need to address this as career progression is rated
                                                highly by employees.                                   Company car/car allowance
                                                                                                        2%
                                                These results show a significant difference in         Study support for external qualifications
                                                employee/ employer perception of benefits, and           4%
                                                with 70% of employers looking to recruit in the next
                                                12 months it is important for companies to bridge
                                                these gap in order to attract and retain the best
                                                talent.




    24 | Hays Insurance Salary Guide 2012                                                                                          Hays Insurance Salary Guide 2012 | 25




INS-5539_Insurance_Salary_Guide_A5.indd 24-25                                                                                                               31/05/2012 09:24
Which benefits do you offer employees?                 Do you think that overall your organisation has
                                                           the necessary talent to provide growth?

    Share incentives
       21%
    Contributory pension
                   77%
    Non-contributory pension                                     28%
       25%
                                                                                            72%
    Individual performance-related bonus
                     79%
    Flexible benefits package
           35%
    Health insurance
                 63%
    Life insurance
              48%
    25 days+ annual leave
                  73%
    Paid overtime/time off in lieu
          33%
    Training support (financial/non financial)
                   75%
    Flexible working (eg. flexi-time, home working etc.)
             44%
    Company car/car allowance
              58%
    Joining bonus/incentive
     8%
    Season ticket loan
                62%
    Gym membership
      23%
    Generous parental benefits (ie. above govt. minimum)
     14%
    Discounts on products/services
            23%
    Study support for external qualifications
                   75%




    26 | Hays Insurance Salary Guide 2012                                                                    Hays Insurance Salary Guide 2012 | 27




INS-5539_Insurance_Salary_Guide_A5.indd 26-27                                                                                         31/05/2012 09:24
94%
    OF EMPLOYEES FEEL THEY POSSESS THE
    RIGHT SKILLS TO PROGRESS



    76%
    OF EMPLOYERS FEEL THEIR EMPLOYEES HAVE
    SUFFICIENT SCOPE FOR PROGRESSION



    70%
    OF EMPLOYERS HAVE PLANS TO RECRUIT IN THE
    NEXT 12 MONTHS



    38%
    OF PROFESSIONALS VALUE HIGH SALARY
                                                About us
    WHEN CONSIDERING A NEW ROLE                 Hays is the UK’s leading recruitment expert       clients, advising them on immediate recruitment




    22%
                                                for professionals and organisations within        solutions and long-term workforce planning.
                                                the insurance industry. We recruit for a
                                                comprehensive range of insurance jobs across      We are committed to working with you to find
                                                all sectors placing professionals in permanent,   the appropriate talent who can transform your
                                                temporary and interim roles.                      organisation.

                                                Our expert consultants offer a personalised       Lloyd Rosenthal
                                                recruitment service to guide you through every    Director, Hays Insurance
    OF EMPLOYEES ARE UNHAPPY WITH               stage of the process ensuring it’s as simple as
                                                                                                  E lloyd.rosenthal@hays.com
    THEIR CURRENT BENEFITS PACKAGE              possible. Established for many years, we have
                                                                                                  T 020 3465 0145
                                                strong relations with industry associations
                                                and have developed partnerships with all our


    28 | Hays Insurance Salary Guide 2012                                                                                Hays Insurance Salary Guide 2012 | 29




INS-5539_Insurance_Salary_Guide_A5.indd 28-29                                                                                                     31/05/2012 09:24
hays.co.uk/insurance

       © Copyright Hays Specialist Recruitment Limited 2012. HAYS, the Corporate and Sector H devices,
       Recruiting experts worldwide, the HAYS Recruiting experts worldwide logo and Powering the
       World of Work are trade marks of Hays plc. The Corporate and Sector H devices are original
       designs protected by registration in many countries. All rights are reserved. INS-05539




INS-5539_Insurance_Salary_Guide_A5.indd 30                                                               31/05/2012 09:24

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HAYS UK Insurance Salary Guide

  • 1. Powering the world of insurance A look at the year ahead Salary Guide 2012/2013 INS-5539_Insurance_Salary_Guide_A5.indd 1 31/05/2012 09:23
  • 2. INTRODUCTION Across the range of roles we recruit for To attract top talent in 2012, it will be essential for within underwriting, broking, claims and organisations to run timely recruitment campaigns, CONTENTS make competitive offers and ensure benefits risk management, we have not seen a packages are attractive. considerable drop in the number of new Introduction 1 vacancies. While some support functions This market overview and salary guide combines information compiled from our database of Broker 2 to the industry have been affected by the vacancies, discussions with our clients and the trend towards outsourcing, this has not expert knowledge of our consultants. It also Operations 6 been the case for technical positions in includes results from our recent benefits survey. these areas. I hope you find the guide relevant, insightful and Claims 10 useful for benchmarking, budgeting and resource The greatest influence on recruitment in the planning. Underwriting 14 insurance industry this year is likely to be the ongoing impact of new rules and regulations. Whatever your plans, I wish you all the best for Actuarial 18 the months ahead, and look forward to having the Overall, the market remains cautious, many opportunity to work with you. Please feel free to Do your benefits measure up? 22 insurance professionals are hesitant to move, and contact me to provide feedback or to discuss any employers are taking longer to make recruitment recruitment related issues you may be encountering decisions. at this time. The insurance industry is still suffering from a skills shortage and ongoing efforts are needed to encourage young people and graduates to consider insurance as a career option. Despite these skills shortages and continued economic uncertainty, good opportunities still remain especially for those with niche skills. Lloyd Rosenthal Director, Hays Insurance Skilled actuarial professionals are in high demand E lloyd.rosenthal@hays.com as businesses prepare for the implementation of T 020 3465 0145 Solvency II. Project and change managers continue to be sought after to oversee large scale projects, needed to prepare for new regulations, and support organisations going through periods of transformation and change. Risk and compliance managers are also finding themselves in high demand as a reaction both to the current economic climate and new regulations, with many organisations taking on their own in- house risk specialists. Hays Insurance Salary Guide 2012 | 1 INS-5539_Insurance_Salary_Guide_A5.indd 2-1 31/05/2012 09:23
  • 3. A guide to salaries within the broker industry North East (£ p/a) North West (£ p/a) Midlands (£ p/a) Account Executive 35,000-50,000 35,000-50,000 35,000-50,000 Account Handler 20,000-35,000 20,000-35,000 17,000-28,000 Account Manager 27,000-35,000 27,000-35,000 25,000-35,000 Branch Director 45,000-60,000 45,000-60,000 55,000-75,000 BROKer Branch Manager Broker 40,000-50,000 28,000-38.000 40,000-50,000 28,000-38.000 50,000-75,000 22,000-30,000 Business Developer 35,000-60,000 35,000-60,000 35,000-60,000 Generally speaking there is a lack of experienced specialist candidates in the CEO 110,000-130,000 110,000-130,000 120,000-150,000 insurance market, which has enabled Corporate Broker 35,000-45,000 35,000-45,000 30,000-40,000 salaries to remain high. Development Executive 40,000-60,000 40,000-60,000 35,000-45,000 Employers do have high expectations and prefer new hires to be working towards or have Managing Director 60,000-85,000 60,000-85,000 70,000-95,000 achieved ACII or equivalent, although increasingly employers are putting more value on relevant and New Business technical experience. 35,000-60,000 35,000-60,000 35,000-55,000 Account Executive Demand for business developers and key account Private Client Manager 30,000-45,000 30,000-45,000 30,000-40,000 managers rarely dips and over the last year, those who can demonstrate an ability to open up new revenue streams or safeguard existing lucrative business have seen their stock rise. Those who can hit the ground running, even with restrictive covenants to contend with, are frequently finding themselves facing the happy dilemma of weighing up multiple job offers. As brokers re-focus on building market share, candidates with excellent account management and handling skills are sought after by both the large and small brokerages. Smaller brokerages have, to some extent, been able to counter-act the bigger salaries on offer at the large corporates by offering candidates greater flexibility and better work-life balance. 2 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 3 INS-5539_Insurance_Salary_Guide_A5.indd 2-3 31/05/2012 09:23
  • 4. Broker Broker SOUTH WEST (£ p/a) SOUTH EAST (£ p/a) LONDON (£ p/a) NORTHERN IRELAND (£ p/a) SCOTLAND (£ p/a) WALES (£ p/a) Account Executive 30,000-45,000 35,000-50,000 45,000-65,000 Account Executive 31,500-45,000 31,500-45,000 31,500-45,000 Account Handler 16,000-28,000 18,000-35,000 30,000-45,000 Account Handler 15,300-25,200 15,300-25,200 15,300-25,200 Account Manager 25,000-35,000 25,000-40,000 35,000-60,000 Account Manager 22,500-36,000 22,500-36,000 22,500-36,000 Branch Director 50,000-65,000 55,000-75,000 85,000-125,000 Branch Director 49,500-67,500 49,500-67,500 49,500-67,500 Branch Manager 40,000-55,000 45,000-65,000 75,000-110,000 Branch Manager 45,000-55,000 50,000-65,000 45,000-55,000 Broker 25,000-30,000 25,000-35,000 35,000-75,000 Broker 17,000-25,000 20,000-28,000 15,000-25,000 Business Developer 35,000-50,000 35,000-50,000 45,000-85,000 Business Developer 31,500-54,000 32,000-56,000 31,500-54,000 CEO 100,000-150,000 110,000-150,000 150,000-250,000 CEO 85,000-120,000 90,000-130,000 85,000-120,000 Corporate Broker 30,000-50,000 35,000-65,000 45,000-75,000 Corporate Broker 27,000-45,000 27,000-45,000 27,000-45,000 Managing Director 70,000-90,000 80,000-100,000 100,000-150,000 Development Executive 31,500-40,500 31,500-40,500 31,500-40,500 Private Client Manager 25,000-40,000 30,000-45,000 45,000-65,000 Managing Director 60,000-85,000 65,000-90,000 60,000-85,000 New Business 31,500-40,500 31,500-45,000 31,500-40,500 Account Executive Private Client Manager 27,000-31,500 27,000-31,500 27,000-31,500 4 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 5 INS-5539_Insurance_Salary_Guide_A5.indd 4-5 31/05/2012 09:23
  • 5. A guide to salaries within operations NORTH EAST (£ p/a) NORTH WEST (£ p/a) MIDLANDS (£ p/a) Business Analyst/ 25,000-30,000 22,500-30,000 25,000-30,000 Strategist OPERATIONS Chief Operating Officer 70,000-90,000 70,000-90,000 70,000-90,000 Compliance Officer/ 33,000-45,000 33,000-50,000 50,000-75,000 Manager Compliance Assistant 25,000-35,000 25,000-35,000 25,000-35,000 Insurance professionals with strong MI Analyst 35,000-50,000 35,000-50,000 35,000-50,000 experience in key operational roles, such as risk management, compliance, analysis MI Manager 50,000-60,000 50,000-60,000 50,000-60,000 and pricing have seen a rise in demand Enterprise Risk for their skills over the last year. Management 40,000-60,000 40,000-60,000 40,000-60,000 On the whole, insurance companies have been In-house Insurance 30,000-50,000 30,000-50,000 30,000-50,000 revisiting their staffing structures with gradual growth, rather than simply survival in mind. Operations Manager 40,000-55,000 40,000-55,000 50,000-65,000 Many employers, most notably brokerages and underwriting organisations, have shown a greater Operations Director 65,000-90,000 65,000-90,000 65,000-90,000 interest in recruiting candidates with strong analytical and IT skills. Business, MI and pricing Pricing Analyst 35,000-45,000 35,000-45,000 35,000-45,000 analysts have been in high demand, as companies seek to align cost bases and pricing structures to Pricing Manager 50,000-60,000 50,000-60,000 50,000-60,000 optimise profitability whilst remaining competitive. Project Manager 40,000-60,000 40,000-60,000 40,000-60,000 The regulatory area of the insurance market continues to grow and we are seeing an increasing Risk Analyst 32,000-50,000 32,000-50,000 32,000-50,000 number of new compliance roles across the board. Companies are bolstering measures to Risk Manager 45,000-65,000 45,000-65,000 45,000-65,000 remain on the right side of the regulators and are Operational Risk Manager 45,000-65,000 45,000-65,000 45,000-65,000 acutely aware of the financial and reputational penalties of failing to do so. In particular, the Statistician 25,000-35,000 25,000-35,000 25,000-35,000 ongoing and extended Solvency II implementation projects continue to provide a lucrative market for Training Competency 40,000-50,000 40,000-50,000 40,000-50,000 contractors. With the SII deadline now extended to 2014, the demand for contractors will continue to remain high. Overall, salary levels have remained fairly static in the operational world, although the contractor market can and does offer well in excess of the equivalent sums that are paid for permanent roles. 6 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 7 INS-5539_Insurance_Salary_Guide_A5.indd 6-7 31/05/2012 09:23
  • 6. Operations Operations SOUTH WEST (£ p/a) SOUTH EAST (£ p/a) LONDON (£ p/a) NORTHERN IRELAND (£ p/a) SCOTLAND (£ p/a) WALES (£ p/a) Business Analyst/ Business Analyst/ 22,500-30,000 22,500-30,000 35,000-50,000 22,500-27,000 22,500-27,000 22,500-27,000 Strategist Strategist Chief Operating Officer 70,000-90,000 70,000-90,000 100,000-150,000 Chief Operating Officer 63,000-81,000 63,000-81,000 63,000-81,000 Compliance Officer/ Compliance Officer/ 45,000-60,000 45,000-60,000 58,000-80,000 40,500-54,000 40,500-54,000 40,500-54,000 Manager Manager Compliance Assistant 25,000-35,000 25,000-35,000 25,000-40,000 Compliance Assistant 22,500-31,500 22,500-31,500 22,500-31,500 MI Analyst 35,000-50,000 35,000-50,000 40,000-60,000 MI Analyst 35,000-50,000 35,000-50,000 35,000-50,000 MI Manager 50,000-60,000 50,000-60,000 60,000-80,000 MI Manager 50,000-60,000 50,000-60,000 50,000-60,000 Enterprise Risk Enterprise Risk 40,000-60,000 40,000-60,000 50,000-85,000 36,000-54,000 36,000-54,000 36,000-54,000 Management Management In-house Insurance 30,000-50,000 30,000-50,000 80,000-150,000 In-house Insurance 27,000-45,000 27,000-45,000 27,000-45,000 Operations Manager 40,000-55,000 40,000-55,000 60,000-90,000 Operations Manager 45,000-58,500 45,000-58,500 45,000-58,500 Operations Director 65,000-90,000 65,000-90,000 100,000-130,000 Operations Director 58,500-81,000 58,500-81,000 58,500-81,000 Pricing Analyst 35,000-45,000 35,000-45,000 45,000-55,000 Pricing Analyst 31,500-40,500 31,500-40,500 31,500-40,500 Pricing Manager 50,000-60,000 50,000-60,000 65,000-85,000 Pricing Manager 45,000-54,000 45,000-54,000 45,000-54,000 Project Manager 40,000-60,000 40,000-60,000 65,000-100,000 Project Manager 36,000-54,000 36,000-54,000 36,000-54,000 Risk Analyst 32,000-50,000 32,000-50,000 35,000-65,000 Risk Analyst 32,000-50,000 32,000-50,000 32,000-50,000 Risk Manager 45,000-65,000 45,000-65,000 65,000-90,000 Risk Manager 40,500-58,500 40,500-58,500 40,500-58,500 Operational Risk Manager 45,000-65,000 45,000-65,000 65,000-110,000 Operational Risk Manager 40,500-58,500 40,500-58,500 40,500-58,500 Statistician 25,000-35,000 25,000-35,000 45,000-65,000 Statistician 22,500-31,500 22,500-31,500 22,500-31,500 Training Competency 40,000-50,000 40,000-50,000 55,000-65,000 Training Competency 36,000-45,000 40,000-50,000 36,000-45,000 8 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 9 INS-5539_Insurance_Salary_Guide_A5.indd 8-9 31/05/2012 09:23
  • 7. A guide to salaries within claims North East (£ p/a) North West (£ p/a) Midlands (£ p/a) Claims Adjustor/Assessor 20,000-25,000 20,000-32,000 20,000-32,000 Claims Broker 20,000-30,000 20,000-30,000 18,000-26,000 Claims Controller 40,000-45,000 40,000-45,000 40,000-45,000 Claims Negotiator/ 15,000-27,000 15,000-30,000 15,000-30,000 Handler Claims Manager 30,000-55,000 35,000-60,000 35,000-60,000 Claims Technician 15,000-25,000 15,000-30,000 15,000-30,000 Claims Director 55,000-75,000 60,000-80,000 60,000-80,000 Head of Claims 65,000-85,000 65,000-85,000 65,000-85,000 Domestic Adjuster 20,000-32,000 20,000-32,000 15,000-25,000 Internal Adjuster 18,000-25,000 18,000-25,000 15,000-25,000 Liability Adjuster 25,000-45,000 25,000-45,000 22,000-32,000 Loss Adjuster 30,000-40,000 30,000-45,000 30,000-45,000 Risk Surveyor 35,000-50,000 35,000-50,000 30,000-45,000 CLAIMS Surveyor 30,000-40,000 30,000-45,000 30,000-45,000 The impact of the recession is slowly more successfully. This has marked the beginning moving on in the insurance claims of the modernisation process which is set to continue throughout 2012. market. There is a consensus in terms of modernising claims handling, that the The majority of mainstream claims recruitment in the UK continues to be within commercial liner UK market has come a long way in a teams. The demand for personal lines staff is still short time. gradually falling, however the demand remains One modernisation to note is the introduction of high for experienced loss adjusters as companies the electronic claims file system. Some particular strive to strike a balance between protecting their benefits achieved to date are the reduction in revenues and maintaining a reputation for fairness. settlement times and the ability to track claims 10 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 11 INS-5539_Insurance_Salary_Guide_A5.indd 10-11 31/05/2012 09:23
  • 8. Claims Claims SOUTH WEST (£ p/a) SOUTH EAST (£ p/a) LONDON (£ p/a) NORTHERN IRELAND (£ p/a) SCOTLAND (£ p/a) WALES (£ p/a) Claims Adjustor/Assessor 20,000-30,000 25,000-35,000 30,000-40,000 Claims Adjustor/Assessor 20,000-30,000 22,000-32,000 20,000-30,000 Claims Broker 20,000-30,000 25,000-35,000 35,000-65,000 Claims Broker 20,000-30,000 22,000-32,000 20,000-30,000 Claims Controller 35,000-55,000 40,000-60,000 55,000-75,000 Claims Controller 30,000-45,000 35,000-50,000 30,000-45,000 Claims Negotiator/ Claims Negotiator/ 16,000-30,000 18,000-35,000 35,000-65,000 16,000-30,000 16,000-32,000 16,000-30,000 Handler Handler Claims Manager 45,000-55,000 55,000-75,000 50,000-85,000 Claims Manager 30,000-40,000 35,000-50,000 30,000-40,000 Claims Technician 20,000-35,000 25,000-40,000 30,000-50,000 Claims Technician 20,000-30,000 22,000-32,000 20,000-30,000 Claims Director 55,000-75,000 65,000-85,000 75,000-125,000 Claims Director 50,000-70,000 55,000-75,000 50,000-70,000 Head of Claims 60,000-85,000 75,000-100,000 125,000-150,000 Head of Claims 60,000-80,000 65,000-85,000 60,000-80,000 Domestic Adjuster 20,000-35,000 25,000-45,000 40,000-60,000 Domestic Adjuster 17,000-27,000 17,000-27,000 17,000-27,000 Internal Adjuster 16,000-25,000 18,000-30,000 28,000-45,000 Internal Adjuster 15,000-25,000 15,000-25,000 15,000-25,000 Liability Adjuster 20,000-35,000 25,000-45,000 55,000-75,000 Liability Adjuster 22,000-28,000 22,000-32,000 22,000-28,000 Loss Adjuster 25,000-40,000 25,000-45,000 35,000-60,000 Loss Adjuster 25,000-35,000 25,000-40,000 25,000-35,000 Risk Surveyor 25,000-40,000 25,000-45,000 45,000-65,000 Risk Surveyor 25,000-35,000 25,000-40,000 25,000-35,000 Surveyor 25,000-40,000 25,000-45,000 35,000-55,000 Surveyor 25,000-35,000 25,000-40,000 25,000-35,000 12 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 13 INS-5539_Insurance_Salary_Guide_A5.indd 12-13 31/05/2012 09:23
  • 9. A guide to salaries within underwriting NORTH EAST (£ p/a) NORTH WEST (£ p/a) MIDLANDS (£ p/a) Broker Developer 35,000-55,000 35,000-55,000 35,000-50,000 Business Developer 30,000-55,000 30,000-55,000 30,000-45,000 Key Account Manager 40,000-60,000 40,000-60,000 35,000-50,000 Class Underwriter 25,000-35,000 25,000-35,000 25,000-35,000 Development Underwriter 40,000-55,000 40,000-55,000 35,000-45,000 Head of Underwriting 60,000-80,000 60,000-80,000 70,000-100,000 Lead Underwriter 30,000-40,000 30,000-40,000 30,000-40,000 Managing Director 60,000-90,000 60,000-90,000 65,000-100,000 Package Underwriter 22,000-30,000 22,000-30,000 20,000-25,000 Trading Underwriter 28,000-45,000 28,000-45,000 25,000-35,000 UNDERWRITING Underwriter Underwriting Analyst 22,000-30,000 20,000-25,000 22,000-30,000 20,000-25,000 18,000-25,000 20,000-25,000 There is still a high demand for specialist There is a real need for underwriters with these key Underwriting Assistant 16,000-22,000 16,000-22,000 16,000-22,000 high calibre underwriters within niche skills, which enables candidates of this calibre to negotiate for higher salaries and benefits. Underwriting Manager 45,000-60,000 45,000-60,000 40,000-50,000 areas, such as marine, accident and health, director and officer and in As momentum in the job market picks up, talented Underwriting Technician 20,000-25,000 20,000-25,000 20,000-25,000 underwriters who had previously put their career particular for those individuals and moves on hold during the recession, are now teams with a book of business. noticeably more confident about looking around. Salaries are still on the increase for specialist And they have good reason, it’s not unknown for underwriters as this is very much a candidate driven firms to pay a sizeable proportion of anticipated market. In many instances employers have even earnings (in one or two extreme cases, the entire been prepared to create positions for applicants annual salary) upfront, such is the difference that a where no vacancies previously existed. good underwriter can make to the bottom line. In recent years a new breed of underwriters have emerged in the shape of a trading/development underwriter. This is someone who is not only technically sound but offers the right trading abilities to write and secure profitable business in this competitive market. 14 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 15 INS-5539_Insurance_Salary_Guide_A5.indd 14-15 31/05/2012 09:24
  • 10. Underwriting Underwriting SOUTH WEST (£ p/a) SOUTH EAST (£ p/a) LONDON (£ p/a) NORTHERN IRELAND (£ p/a) SCOTLAND (£ p/a) WALES (£ p/a) Broker Developer 30,000-50,000 35,000-65,000 45,000-85,000 Broker Developer 31,500-45,000 31,500-48,000 31,500-45,000 Business Developer 40,000-55,000 40,000-55,000 45,000-75,000 Business Developer 27,000-40,500 30,000-45,000 27,000-40,500 Key Account Manager 35,000-50,000 35,000-55,000 50,000-75,000 Key Account Manager 31,500-45,000 34,000-48,000 31,500-45,000 Class Underwriter 20,000-35,000 45,000-55,000 90,000-150,000 Class Underwriter 22,500-31,500 24,000-34,000 22,500-31,500 Development Underwriter 35,000-45,000 35,000-50,000 45,000-70,000 Development Underwriter 31,500-40,000 35,000-45,000 31,500-40,000 Head of Underwriting 65,000-100,000 85,000-115,000 120,000-175,000 Head of Underwriting 63,000-75,000 63,000-90,000 63,000-75,000 Managing Director 65,000-100,000 85,000-125,000 150,000-250,000 Lead Underwriter 27,000-49,500 28,000-52,000 27,000-49,500 Package Underwriter 20,000-27,000 22,000-30,000 35,000-55,000 Managing Director 58,500-85,000 60,000-90,000 58,500-85,000 Trading Underwriter 25,000-35,000 25,000-45,000 65,000-85,000 Package Underwriter 18,000-22,500 18,000-22,500 18,000-22,500 Underwriter 20,000-30,000 20,000-35,000 35,000-65,000 Trading Underwriter 22,500-31,500 24,000-34,000 22,500-31,500 Underwriting Analyst 18,000-25,000 18,000-25,000 30,000-50,000 Underwriter 16,200-22,500 18,000-24,000 16,200-22,500 Underwriting Assistant 18,000-25,000 18,000-25,000 25,000-35,000 Underwriting Analyst 18,000-22,500 20,000-25,000 18,000-22,500 Underwriting Manager 40,000-65,000 65,000-85,000 85,000-120,000 Underwriting Assistant 14,400-19,800 15,000-25,500 14,400-19,800 Underwriting Technician 18,000-25,000 18,000-25,000 25,000-35,000 Underwriting Manager 36,000-58,500 40,000-60,000 36,000-58,500 Underwriting Technician 18,000-22,500 20,000-25,000 18,000-22,500 16 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 17 INS-5539_Insurance_Salary_Guide_A5.indd 16-17 31/05/2012 09:24
  • 11. Actuarial Over the past few years natural disasters A guide to salaries within actuarial such as the Japanese earthquake and NORTH EAST (£ p/a) NORTH WEST (£ p/a) MIDLANDS (£ p/a) tsunami, the earthquake and subsequent hurricanes in Haiti and the floods and Analyst 26,000-36,500 26,000-36,500 27,000-37,000 fires that blighted Australia’s east coast Student Actuary 31,000-46,000 31,000-46,000 32,000-47,000 and southern states have been regular reminders of the capacity of the planet to Senior Student 40,000-62,000 40,000-62,000 41,000-63,500 strike forcefully, without warning and with Manager 54,000-92,000 54,000-92,000 55,000-93,000 lasting financial consequences alongside the more obvious humanitarian costs. Senior Manager 80,000-126,500 80,000-126,500 81,000-132,500 One-off events attributed to human activity, such as Director 110,000-175,000 110,000-175,000 115,000-178,500 Chile’s copper mine cave-in and rescue mission, the more tragic outcomes of mining disasters in New Associate Partner 155,000-287,500 155,000-287,500 155,000-299,000 Zealand and China, and BP’s Deepwater Horizon explosion and subsequent oil spill, add Partner 259,000+ 259,000+ 269,000+ to a litany that has kept insurers and reinsurers pre-occupied. SOUTH WEST (£ p/a) SOUTH EAST (£ p/a) LONDON (£ p/a) Just how critical sophisticated catastrophe modelling techniques are, along with the actuaries Analyst 26,000-35,500 29,000-40,500 35,000-50,000 who devise and build them, is illustrated by the Student Actuary 31,000-46,000 35,000-51,000 30,000-45,000 packages on offer to top-quartile people, and by the extent to which some employers will bulldoze Senior Student 40,000-62,000 44,000-75,000 45,000-83,000 through otherwise non-negotiable pre-set salary bandings to keep them onboard. Manager 54,000-92,000 65,000-104,500 60,000-100,000 With risk management heading up the boardroom Senior Manager 80,000-126,500 91,000-138,000 85,000-144,000 agenda throughout the insurance sector, actuaries who acquired Solvency II experience from the Director 110,000-175,000 120,000-184,000 125,000-195,500 outset can today command generous daily rates for contract roles. Those in permanent positions can Associate Partner 152,000-287,500 160,000-316,500 170,000-316,500 almost certainly rely on being made a handsome counter-offer should they move jobs, although this Partner 259,000+ 274,500+ 284,500+ is in turn making employers look more closely for a firm commitment in the selection process. Lloyd’s syndicates and underwriters in London have all continued to recruit into their actuarial teams. However, they face increasing competition from professional services firms including the consulting arms of the Big 4 accounting firms. 18 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 19 INS-5539_Insurance_Salary_Guide_A5.indd 18-19 31/05/2012 09:24
  • 12. Actuarial Actuarial NORTHERN IRELAND (£ p/a) SCOTLAND (£ p/a) WALES (£ p/a) SOUTH WEST (£ p/a) SOUTH EAST (£ p/a) LONDON (£ p/a) Analyst 26,500-34,500 28,000-36,500 27,000-34,500 Graduate 21,000-30,000 25,000-35,500 25,000-37,000 Student Actuary 31,500-44,000 32,000-46,000 31,500-45,500 Actuarial Analyst 26,000-46,000 31,000-49,500 32,000-52,000 Senior Student 40,000-60,000 40,000-63,000 40,500-59,000 Senior Actuarial Analyst 40,000-58,500 43,000-68,000 45,000-71,500 Manager 53,000-89,500 56,000-92,000 54,000-85,000 Manager 51,000-78,000 59,000-84,000 62,000-92,000 Senior Manager 78,000-123,000 83,000-127,000 80,000-126,500 Senior Manager 68,000-93,000 73,000-100,000 80,000-109,500 Director 110,000-172,500 112,500-176,500 110,000-173,500 Head of department 81,000-110,500 87,000-121,000 95,000-138,000 Director/Deputy Chief Associate Partner 155,000-281,500 156,000-291,000 154,000-284,000 96,000-148,500 105,000-167,000 120,000-184,000 Actuary Partner 253,500+ 259,000+ 256,000+ Chief Actuary 148,500+ 167,000+ 184,000+ NORTH EAST (£ p/a) NORTH WEST (£ p/a) MIDLANDS (£ p/a) NORTHERN IRELAND (£ p/a) SCOTLAND (£ p/a) WALES (£ p/a) Graduate 21,000-30,000 21,000-30,000 22,000-32,000 Graduate 21,500-29,500 23,000-32,000 21,000-28,500 Actuarial Analyst 26,000-46,000 26,000-46,000 28,000-46,000 Actuarial Analyst 26,500-46,500 28,000-47,000 26,500-46,000 Senior Actuarial Analyst 40,000-58,500 40,000-58,500 40,000-60,000 Senior Actuarial Analyst 40,500-58,500 41,000-59,500 40,000-58,500 Manager 51,000-78,000 51,000-78,000 52,000-80,500 Manager 51,500-77,500 52,000-81,000 51,000-78,500 Senior Manager 68,000-93,000 68,000-93,000 70,000-96,500 Senior Manager 68,000-90,000 69,000-96,000 68,500-93,000 Head of department 81,000-110,500 81,000-110,500 84,000-116,000 Head of department 81,500-108,500 81,000-110,000 82,500-105,000 Director/Deputy Chief Director/Deputy Chief 96,000-148,500 96,000-148,500 101,000-160,000 96,500-149,500 96,000-152,000 95,500-149,500 Actuary Actuary Chief Actuary 148,500+ 148,500+ 160,000+ Chief Actuary 148,500+ 151,000+ 147,500+ 20 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 21 INS-5539_Insurance_Salary_Guide_A5.indd 20-21 31/05/2012 09:24
  • 13. DO YOUR BENEFITS MEASURE UP? but only 50% actually receive one. Which of the following do you find important Which benefits are most important to you and when considering a new role? what do you currently receive? Employees feel they are increasingly faced with In April 2012 we surveyed 300 insurance bigger workloads, with limited or no increase High salary Important to employees in remuneration due to pay freezes and salary 7% professionals across the UK to gauge benchmarking, which is prevalent across most of 4 11 Good pension Employees currently receive their thoughts on the employment the insurance sector. Many employees state that 17% 24 Good bonus Share incentives market and current benefits offered in the increased workload is limiting how much time 38% Flexible benefits 44% 16% the sector. is spent on developing key skills and studying for C hallenging role/ Contributory pension industry qualifications. This is important as 16% of projects 54% 50% Our survey looks at how employees feel about their employees rated career development opportunities 16% Flexible working Non-contributory pension present situation, what their outlook for the future is highly when considering a new role – this is the 61 4% options 41% 27% and the importance of different benefits. Responses third most valued benefit after high salary and 4% 11% Career development from employees and employers were compared and job security. 1% Performance-related bonus 2% opportunity the results and comments gathered have allowed 70% 50% Job security us to draw valuable industry insight, which we are For high calibre insurance professionals, with strong Flexible benefits package pleased to be able to share with you. Other technical backgrounds and business acumen, 59% 31% the market remains balanced in their favour as Health insurance Employees companies compete to attract the best talent. 56% 48% Our survey indicates 77% are satisfied with their Life insurance Insurance professionals rated which benefits they overall current benefits package, however this only How satisfied are you with your existing 56% 48% consider most important when considering a new shows more is needed to be done by employers benefits package? 25 days+ annual leave role. Unsurprisingly receiving a high salary topped to retain staff as our results show 69% plan on the list with 38%, followed by job security and 49% 42% searching for a new role in the next 12 months. career development opportunities as second and Our findings show employers need to address and Very satisfied Paid overtime / Time off in lieu 7% third most valued offerings when job searching. 74% 59% review their current offerings and benefit packages 15% Fairly satisfied in order to attract and successfully retain the right Training support Fairly dissatisfied When looking at current benefits offered the ones expertise in their organisations. 47% 10% which were considered most important are flexible Very dissatisfied Flexible working working, bonuses and 25 days + annual leave. For 26% 57% 30% the most part there are significant discrepancies Company car / Car allowance between what employees consider important Do you feel there is scope for progression within 51% 61% 34% as part of an overall benefits package and what your organisation? their employers actually provide. This is with the Joining bonus / incentive exception of pension’s contribution, life insurance 29% 16% and health insurance which are benefits that Season ticket loan employers offer and employees also value highly 25% 6% as part of their package. The biggest gap lies in Gym membership performance related bonuses of which 70% of 28% 24% people surveyed want a performance related bonus 54% Generous parental benefits 46% 27% 15% Discounts on products / services 22% 6% Support for external qualifications 26% 30% 22 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 23 INS-5539_Insurance_Salary_Guide_A5.indd 22-23 31/05/2012 09:24
  • 14. Employers Which benefit do you feel has had the greatest impact upon recruitment and retention? We asked employers which benefits they felt had the greatest impact on recruitment and retention and the top three were performance related bonuses, flexible working and training support. Share incentives These findings draw a parallel to the results from 4% employees when asked which the most important Contributory pension benefits to them were. 11% Non-contributory pension One key discrepancy is that employees’ value 4% having 25+ days annual leave as the most important Individual performance-related bonus benefit to them. This benefit was not noted by 32% employers as being important in retaining or recruiting staff. Employers should also note that Flexible benefits package despite a significant number offering discounts on 9% products/ services this isn’t seen as an incentive Health insurance to employees although this is offered by many 2% organisations. 25 days+ annual leave 4% 72% of employers state they have the necessary Training support (financial/non financial) talent to provide growth within their company, 9% but 54% of employees feel there is no scope for Flexible working (eg. flexi-time, home working etc.) progression within their current role. Employers 21% need to address this as career progression is rated highly by employees. Company car/car allowance 2% These results show a significant difference in Study support for external qualifications employee/ employer perception of benefits, and 4% with 70% of employers looking to recruit in the next 12 months it is important for companies to bridge these gap in order to attract and retain the best talent. 24 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 25 INS-5539_Insurance_Salary_Guide_A5.indd 24-25 31/05/2012 09:24
  • 15. Which benefits do you offer employees? Do you think that overall your organisation has the necessary talent to provide growth? Share incentives 21% Contributory pension 77% Non-contributory pension 28% 25% 72% Individual performance-related bonus 79% Flexible benefits package 35% Health insurance 63% Life insurance 48% 25 days+ annual leave 73% Paid overtime/time off in lieu 33% Training support (financial/non financial) 75% Flexible working (eg. flexi-time, home working etc.) 44% Company car/car allowance 58% Joining bonus/incentive 8% Season ticket loan 62% Gym membership 23% Generous parental benefits (ie. above govt. minimum) 14% Discounts on products/services 23% Study support for external qualifications 75% 26 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 27 INS-5539_Insurance_Salary_Guide_A5.indd 26-27 31/05/2012 09:24
  • 16. 94% OF EMPLOYEES FEEL THEY POSSESS THE RIGHT SKILLS TO PROGRESS 76% OF EMPLOYERS FEEL THEIR EMPLOYEES HAVE SUFFICIENT SCOPE FOR PROGRESSION 70% OF EMPLOYERS HAVE PLANS TO RECRUIT IN THE NEXT 12 MONTHS 38% OF PROFESSIONALS VALUE HIGH SALARY About us WHEN CONSIDERING A NEW ROLE Hays is the UK’s leading recruitment expert clients, advising them on immediate recruitment 22% for professionals and organisations within solutions and long-term workforce planning. the insurance industry. We recruit for a comprehensive range of insurance jobs across We are committed to working with you to find all sectors placing professionals in permanent, the appropriate talent who can transform your temporary and interim roles. organisation. Our expert consultants offer a personalised Lloyd Rosenthal recruitment service to guide you through every Director, Hays Insurance OF EMPLOYEES ARE UNHAPPY WITH stage of the process ensuring it’s as simple as E lloyd.rosenthal@hays.com THEIR CURRENT BENEFITS PACKAGE possible. Established for many years, we have T 020 3465 0145 strong relations with industry associations and have developed partnerships with all our 28 | Hays Insurance Salary Guide 2012 Hays Insurance Salary Guide 2012 | 29 INS-5539_Insurance_Salary_Guide_A5.indd 28-29 31/05/2012 09:24
  • 17. hays.co.uk/insurance © Copyright Hays Specialist Recruitment Limited 2012. HAYS, the Corporate and Sector H devices, Recruiting experts worldwide, the HAYS Recruiting experts worldwide logo and Powering the World of Work are trade marks of Hays plc. The Corporate and Sector H devices are original designs protected by registration in many countries. All rights are reserved. INS-05539 INS-5539_Insurance_Salary_Guide_A5.indd 30 31/05/2012 09:24