MONEY ISN’T EVERYTHING IN YOUR IDEAL FINANCE ROLE
In the current economic climate, it is natural that people are looking for the best level of income. This has always been the case, and it will always be the case, but in tough economic times, the salary on offer from a job is a critical issue. If you have been considering a finance role and have been weighing up front or back office jobs, there may seem an obvious job to apply for, but in developing a career, you shouldn’t only focus on the money you can make.
While there are many differences between the front and back office, one of the major differences is the salary. In some cases, the gap between front office salaries and back office salaries has been exaggerated. You are not likely to find professionals in the front office showing off some bling while back office staff struggle to feed themselves but if we are being honest and realistic, it is obvious that front office employees earn more, and have the potential to earn considerably more, than back office employees.
NOT EVERY FIRM OFFERS THE SAME SALARY OPTIONS
It is important to be aware that different firms operate in diverse ways. There will be some firms who provide a higher wage to the front office staff. There will be companies who offer a standardised salary across the different offices, but it is the bonuses that allow front office staff to learn a lot more money. There is an argument that because front office staff members are in the revenue generating roles, they are the ones that should receive a larger slice of the money being offered to employees.
And in that regard, if you are focused on maximising your income, a front office role is the most appealing. However, a front office role isn’t for everyone. Some of the problems that some people with front office roles include:
- This is a highly pressured situation with demands from management level and clients
- You spend a lot of time dealing with the public
- This is a highly responsible role with your work playing a key factor in the company’s success
- The role is likely to include long hours and working days hat stretch beyond the typical 9 to 5
Of course, there will be some people who thrive on these working conditions. If you are the sort of person that loves responsibility, loves meeting people and wants to be in a role where you influence the growth and development of your company, a front office role is likely to be for you. In this regard, you can see why these roles often carry a higher financial reward. If you feel that this sort of role contains too much pressure, or you would prefer a more straightforward office role, middle and back office positions may be more to your liking.
YOU WILL HAVE YOUR OWN THOUGHTS ON WHAT A SALARY SHOULD ENTAIL
Don’t forget that people have their own idea of what is an acceptable wage and how much time, effort and commitment they are willing to put in to receive this reward. In the long-term, back office employees have an opportunity to earn a considerable wage and they don’t have the pressure of dealing with so many clients as front office team members do. As an example, a skilled and experienced professional who works in corporate treasury can find themselves earning at least £150,000 in a single year. This is the sort of wage that most people can be happy with, and it is something to aim for.
No matter what sort of job offers you the best solution, you’ll find that we can help you find the ideal position. At City Wharf Financial Recruitment, we are on hand to help you review a lot of front office jobs and we’ll help you find the one that is best suited to you.
We don’t just place anyone with any job. We know what employers are looking for and we take the time to find out what our candidates have to offer. We will learn what makes you tick, and this helps us help you find your ideal job.
No matter what is important to you when it comes to finding your next job, let City Wharf Financial Recruitment assist you.