Not working in FinTech? It pays up to 26% more according to latest data trends
5/15/2018 The Pay Index
Current data from The Pay Index shows that senior executives who work within Fintech frequently earn up to 26% more than their counterparts in other sectors.
The Pay Index was launched in February 2018 and is already being used by thousands of global senior executives to benchmark their compensation.
Drawing on the very latest compensation data, we are already seeing key trends regarding which industry sectors pay the best – here are some of the key findings:
What industry sectors are paying the best?
If you’re the kind of person who wants to maximise their earning potential, then Fintech is the industry sector you should be working in, according to the latest data captured on The Pay Index.
The data shows that Fintech is paying about 18% above the market average and in some cases, up to 26% more when compared to other industry sectors.
Fintech was followed by the Technology sector, which in turn was slightly ahead of Investment Banking – both of which regularly paid around 8% higher than the market average.
What sectors appear to be lagging behind?
However, there the data also highlighted some particular industries that appeared to be lagging behind the market average.
Energy & Utilities was a one concern, with the average compensation being 33% behind the market average and a massive 45% behind the market leaders, Fintech.
Other notable industry sectors paying below the market average were Retail Banking (10% below the market average) and Insurance (7% less than the overall average).
What lessons can Individuals and Companies take from this data?
When Leathwaite, the parent company of The Pay Index, conducted its 2017 global HR Leadership study, it showed that Talent Acquisition has returned to be one of top 3 priorities for HR Leaders – up from last place in the 2016 survey, and clearly indicating that a desire for growth has returned.
When this is referenced against an increased appetite for cross-industry hires from both the candidate and employer perspective (Leathwaite data also shows that up to 60% of candidates who are recommended for new roles are from other industry sectors), it demonstrates that companies and individuals are be competing for talent and comparing pay on a much broader and more global perspective than ever before.
As a senior executive, how does your pay compare?
The Pay Index is an exclusive website, just for the global senior executives, where they can anonymously compare their compensation against the broader market. Thousands of senior executives are now using The Pay Index to regularly benchmark their current compensation package.
You can register on The Pay Index here or learn more about the benefits of the site via the video below: