Rogues Gallery AKA the “worst LinkedIn photos we have seen”

Do you need to change your LinkedIn photo?

My posting today has a constructive message with a bit of fun thrown in!

I spoke to at the Chicago Treasurers Conference about this and one of the main topics of my session was about what we see as the key fundamentals to a successful LinkedIn profile?

The major one is your LinkedIn PHOTO.

You may be aware that you are 11x more likely to successfully create a business connection if you have good photo on your profile rather than the greyed-out clone image!

Further recommendations from the session included avoiding holiday pictures in the bar, selfies, pictures of famous landmarks! Yes we have seen them all!

This led to the creation of our own Rogues Gallery that aren’t past LinkedIn photos of me rather they are reconstructions of some of the strangest, most inappropriate and often downright crazy photos we have encountered throughout The Treasury Recruitment Company LinkedIn journey.

Here’s our Countdown in typical chart fashion of;

Our ROGUES GALLERY or THE WORST LinkedIn PHOTOS WE HAVE SEEN!

FLOWERS
Very pretty but why?
Oh why?
You are not a bunch of flowers!
JUST GOT OUT OF JAIL?
Really!!! Everyone’s got a phone!
No you don’t look cool!
You like you’ve just escaped from court!
You are Gordon Gecko from Wall Street.
The Treasury Recruitment Co
LOGO UPLOAD
You are not a logo. How long does it take to find one photo of you at work and upload it? 10 seconds via your phone?
NO SELFIES
So many Selfies!
Get over your embarrassment, ask a friend or colleague to take a quick pic.
Also we know the view from up high in a selfie gets rid of your chin but it’s not as bad as a poorly shot selfie
SQUASHED / STRETCHED HEAD
OK you’ve taken a photo. It looks good, it’s professional. NOW Upload it to your profile – DONE.
LOG OFF – NOOOOOO! Check it and see what it looks like on your PC we see probably one squashed or stretched face shot per day on our LinkedIn adventures.
HYPNOSIS 101
Look into my eyes, not away from the eyes and you are under!
Now you will;
CONNECT WITH ME NOW AND GIVE ME ALL TREASURY ROLES
You’re back in the room.
KIDS PICTURE
Cute kid but please keep it professional! He’s not you and he’s not looking for his next job maybe you are what impression does this give us about you?
Lovely family man but doesn’t take networking seriously.
HAWAIIAN DISASTER
So your shirt and fashion sense whilst on holiday is all in the worst possible taste.
Do I really want to see a picture of you chugging another pint?
EYE CLOSE UP
Lovely mascara but is that all you are an eye???
AND FINALLY…
CREEPY ARTY POSE!
WHY???
Creepy, horror film look, mmm nice Adam’s apple!

I kid you not these are genuine recreations of some of the worst disasters that are haunting the world of LinkedIn.

There are a few others we couldn’t include as we didn’t want to be too mean but the simple rule is;

ITS YOUR BUSINESS PROFILE
ALL WE WANT TO SEE IS A PROFESSIONAL PHOTO OF YOU!
As always I want to help you secure your next position.
Please call me, I am happy to give my advice especially about LinkedIn whenever needed!

Why Don’t Clients Always Advertise Senior Treasury Roles When They Want To Recruit?

Reasons include;

Internal Sensitivity

They may be replacing the current Treasurer who may not have announced their move to their team and the company as whole and they want to do it in the right manner before they move into a more senior role

External Sensitivity

There may be factors whereby the Finance Director wants the new Head of Treasury agreed in advance so they can introduce them to their banking and financing partners in advance so they are comfortable with the change

A Planned Change

The incumbent may not be aware of an impending change and the CFO wants to ensure they have an effective and immediate changeover in place when required

They don’t want you to know!

Some clients simply want to have a direct switch that is agreed between the outgoing and incoming Treasurer and they want it to be under their terms

The “Hassle Factor”

Clients trust us to find their next Treasurer and they don’t want to face a barrage of calls and questions from recruiters who want to recruit the role when they already have us as a preferred recruitment partner, they don’t have either the time or patience to tell other parties to leave them alone

Would I Like To Advertise All The Senior Treasury Positions We Recruit?

ARE YOU MAD?

Of course I would!

I have recruited some of these Senior Treasury roles;

  • Group Treasurer for Johnson Matthey, FTSE100 plc
  • Group Treasurer for Pentland Brands
  • Group Treasurer for First Quantum Minerals
  • A Director & Senior Manager at Deloitte
  • Group Treasurer at The Shanks Group now called Renewi Plc originally a confidential search
  • Group Treasurer for Rigby Group
  • Global Treasurer for SABIC

Amongst others!

Of these positions, five were confidential searches that I was desperate to publish on our website and I wanted to shout from the rooftops about!!!

But when a CLIENT says Mike it’s a confidential search I respect that!

So Mike if I want insightful yet constructive career advice and to register a CONFIDENTIAL interest in you as either a client or as a candidate where do I go?

I thought you would never ask…I thought that was just the voices in my head whispering once again…..

But this time I listened and they said Mike GO HERE!

Here you will find all your answers… www.TreasuryRecruitment.com

Oh whatever YES it’s a shameless plug but I have kids that need shoes you know and they don’t stop growing….

Anyway eBook, videos, flower displays, Airfix kits can all be found via that link…mmmmm…

OK don’t blame the messenger I couldn’t help it, I need treatment for “shameless self-promotion on LinkedIn” – there must be a cure somewhere hang on I just look in my Hotmail junk folder…

Yep found it…along with…sorry must go…I have Nigerian Lottery claim to sort out….

Are your treasury wages in line with our Global Treasury Salary Survey?

Anyone that takes part in The Treasury Recruitment Company Global Treasury Salary Survey really gets to know.

We’re the only company who gather real facts about how much treasury professionals are being paid. By surveying over 1,000 global treasury professionals, we have analysed the exact salary grades for those in the industry; helping candidates and employers alike.

The Global Salary Survey is currently taking place and is expected to provide a true guide of the salaries within the Treasury Industry. As the results are not published anywhere else, the only way to access the data is to complete the survey!

The only one of its kind; this open, honest and exact representation of treasury professionals makes it easier to gauge where you sit in the salary scale or are you actually paying your staff the market rate.

Mike Richards, CEO and founder of the Treasury Recruitment Company says, “it’s not just about inputting numbers to a questionnaire, each person who completes the survey has to submit who they are and what they do. The information is verified and assessed according to my experience to ensure the data really is accurate.”

This is the 11th survey conducted by the Treasury Recruitment Company and the biggest one yet. As the only salary survey that is 100% treasury focused, they have developed an independent and impartial view of the work involved with being a treasury professional at every level.

Take part now

Why you need to take part in our Global Treasury Salary Survey?

The State of the UK Treasury Recruitment Market

The UK treasury recruitment market is going through some challenging times!

There has been the long-term effects of coping with the changes BREXIT landed on the laps of treasury professionals, the medium-term effects of recovering from the pandemic and a whole new world of working in a blended age of hybrid work and as if that wasn’t enough there’s an increasingly unstable political environment as an election looms.

The economy does not know where to go next!

I do feel Europe and the US markets feel some of the similar problems but with a lack of BREXIT and some political change but the UK as a far smaller economy does seem to be languishing leading to a slower treasury recruitment market overall.

Often, we have been asked to simply “recruit-to-replace” staff in the same positions when staff have moved on rather than clients wanting to expand their treasury teams or seeking to develop their treasury functions.

They have retreated into their shells and only sought to recruit when they are forced to i.e. if a member of staff leaves, they try and spread the workload and cover internally before recruiting.

It is only when a second member of staff moves on and say they were a team of five people initially then they can cope with 4 BUT at 3 they struggle and then recruitment is often conducted in haste rather than fully planned.

If your team dropped by 20% and you were having to still do the same amount of work, you may be able to cover but if that becomes a 33% drop it becomes urgent in a matter of weeks not months!

Salaries in the UK treasury market have shown some moderate and steady increases in compensation, and whilst that does indicate a stable market, it does not make for a particularly buoyant market.

We have seen salaries keep pace with inflation but in in real terms, keeping pace is not any sort of increase!

When you examine the numbers more deeply and I do not think many employers have been looking too deeply and dare I say that has been deliberate in many cases rather than through ignorance. Then many treasury professionals have faced some tough times.

I would add that there has been consistency across the different levels of seniority in terms of salary rises. Unlike some European regions and the US, the UK has given a more consistent growth pattern across all levels of treasury roles and there has been a more balanced demand within the market itself for treasury staff.

Whereas in other regions, say in the US, there have been higher demand at the mid and semi-senior level, i.e. International Treasurer & Deputy Treasurer. In Europe, there has been higher demand at the operational levels and the more junior levels that has driven salary growth.

In the UK, we have seen a strong increase in terms of salary for Deputy and Group Treasurers, highlighting the importance of leadership within financial strategy, which is one of the key factors people have said when they are recruiting. But again, there has still been a ‘recruit-to-replace’ mentality rather than increasing the levels within treasury teams.

There also have NOT been an influx of NEW Group Treasurer roles as some of our rivals have spouted rubbish about!

If they have recruited all these brand-new Treasurer roles, then why aren’t they boasting all about it through lots of amazing testimonials from these brand-new Treasurers?

Why? Because its BS that is why!

They have been saying there has been high demand for Group Treasurers this year, and it has been busy please send us your CV’s / resumes. That is just them CV gathering. There has not been high demand.

Yes, there have been promotions. That has been the default. But when people are going to the external market i.e. trying to find new Treasury talent from other companies, it has been limited.

It has been a tough year in 2023. It is improving in 2024, but it is not a boom market by any means at the senior levels.

There has been a more moderate increase in salaries as people move from the Analyst level and then an increase in salary level for early to mid-managerial positions such as Treasury Manager.

Meaning that they are looking for treasury professionals who can take on leadership, who can supervise, who can lead, coach and train. But one of the things I would mention there is, how many organizations are providing that to their Treasury Managers?

How many organizations are saying, great. We would like you to train up the Junior Treasury Operational team, manage and train the Treasury Dealer, manage the Treasury Analyst, manage the Treasury Assistant.

Fantastic but what training are you giving them to be effective leaders of the future?

For many years, right the way across the treasury function, I see a lack of treasury training, and it’s something we have addressed, and we have partnered with a couple of organizations that when treasury professionals need more training about how to be trainers, how to be managers, that’s one of the key things that we’ve identified. So, we are going to be offering that more extensively in 2024.

Overall, within the UK market and within our survey, we have fantastic knowledge.

We have been operating in the treasury recruitment market for over 25 years. We have stable participant numbers in the salary surveys year-on-year.

There is a good mature market with established career paths within treasury, but the best thing for us as the treasury recruitment company is we know the market. We have the power of knowing exactly where salary stands.

We know intuitively, but also factually what the right salary is for and when you are recruiting a new Treasury Analyst, a Manager, Deputy Treasurer, or Group or Global Treasurer, and we know the difference between them because we have done it for twenty-five plus years.

This is what we do and what we continue to do. So, call us if you need help.

Thank you to all those who take part in our Salary Surveys. It is only with your input that we can offer the insights into the state of the Global Treasury Recruitment market.

We are aware that competitors create surveys simply to have something to talk about on LinkedIn with your support our 100% real survey, offers unique value – “we use real data from treasury professionals, to give a one-of-a-kind treasury salary survey for treasury professionals globally”.

Please share our survey within your treasury network – colleagues, team members, superiors. The few minutes they give to the survey make it the powerhouse it is to this day!

Any suggestions on its content or areas to be explored are welcome. With your help, every day we improve the survey, thanks for your support.

Please Take Part In Our Ongoing Treasury Salary Survey!

This comprehensive survey is the foremost benchmarking tool for Treasury sector salaries. It gathers data from Treasury professionals worldwide, ranging from Treasury Analysts to Group Treasurers. By participating, you’ll gain exclusive access to the full results at no cost.

We are gearing up for the 1st set of results for 2024, we invite you to join them. Upon confirming your status as a Treasury Professional, you’ll receive a complimentary copy of the latest set of results and you are then included from then on!

All we ask is that you update your salary information whenever you get a well deserved pay rise 😉

Take the Salary Survey   Find out more

How Much Does It Cost to Recruit through The Treasury Recruitment Company?

So, you want to understand our fees and how we structure them?

No problem read on…

How Much Does It Cost to Recruit through The Treasury Recruitment Company?

Well, it depends…let me explain. We do a great job at recruiting Treasury professionals. We work in a niche industry that means lower volumes of activity, so we don’t benefit from the repeat assignments and volume of positions that many generalist recruiters have access to. That makes it harder to work at lower fee levels we must target candidates and clients and costing us time, effort and money when researching to find talented treasury professionals. That must be paid for us to give a great service and this is what we want to do!

We are often asked to agree to 18%, 15% maybe 12% fees….

“Mike our other guys on our PSL have agreed to work at cheap rates. You are at 30% for the senior roles and 25% for the junior roles”

Yes, I am, as that is what it costs us to recruit people for you! Why don’t you give the role to the guys on your PSL at 15% and see how they get on? There’s a reason they are cheap…they will look for the next couple of months or so and they may get lucky and find one or two candidates. Good luck to them, they will need it. After 6 to 8 weeks they have not produced a successful result! I get the call:

“Mike I want you to do a search for us”

“OOOOKAYYYY” I say with trepidation knowing what’s coming next….

“Mike, we would love to give you a crack at the search!”

“Greatttttt”

“BUT we want you to match the fees of those guys who have produced no results for the past 8 weeks….”

RIGHT….

“Yep, we still want you to work on a contingent basis where all the risk lies with you”

RIGHT….

“Mike, I want you to invest your time and money in doing the search with no guarantee of revenue in the process but don’t worry zero cost and zero commitment from us”

Yep 100% risk to you and 0% to us to use your services.

Oh, and by the way you should know you will be going into a “scorched earth” Treasury Recruitment market where a series of generalist recruiters have blanketed the market, mis-sold the role, some of them can barely spell the word treasury let alone recruit for it. If there was someone nearly suitable they have probably decided that as you are using a terrible agency to recruit you’re not serious about treasury anyway and they have been turned off to the role by the recruiter.

Mike, good luck with the role because you are going to need it!

Okay, this sounds like one of my RANTS. Well, it’s not as we can offer at least THREE, YES, THREE SOLUTIONS!

Our fees depend upon what method you want to use with us – it may be one of the following;

SOLUTION 1 – CONTINGENT SEARCH

“No-Win, No-Fee” / “No Cure, No Fee” – Full Fee If I Am Successful!

A Client will pay us say “25% or 30%” fee for a full search if we are instructed on it but it is a “NO-WIN, NO FEE contingent basis”.

If we find them the right treasury person, then we want a full fee. If we don’t find them you don’t pay us. We will do the work, but we take 100% of the risk for a full fee!

If we recruit a Treasurer at £200,000 or $300,000 they should be worth their fee if they can’t save their fee by:

  • bank refinancing or savings through a new Treasury management system
  • motivating the team and getting much more out of them in the first maybe three, six or at least within the first twelve months

Then probably you won’t want to recruit that person anyway!

SOLUTION 2 – RETAINED SEARCH

Retainer, Shortlist Fee, Completion

Client;

“Mike, let’s de-risk this process for both sides and I will retain you to find me a Treasury person, but I would appreciate some flexibility on the fee as I am committing exclusively to you.
What can we do? Can we work together on this?”

I am often able to show flexibility on the fee as you are trusting in me by retaining me and I will be able to dedicate time and paid research resource to the search as simply speaking you are paying for MY TIME.

I believe I can recruit the role and I want to work on it with you.

Usually, I will charge you one third of what the estimated fee will be at the beginning. You will be paying for my time.

Will I make loads of profit from the Retainer fee? No.

In most cases, we will not break even / make a profit until a Shortlist fee is paid. The profit for us as a recruitment business is in the COMPLETION fee.

We agree that I will charge you your Shortlist fee when I give you a shortlist that you love. When the person starts I charge you the COMPLETION FEE.

If my shortlist fails I don’t charge you, I find you a more suitable treasury professional.

If the person doesn’t start I don’t charge you I go back to a shortlist stage and find you more great candidates.

So, RETAINED SEARCH – Mike what’s your record?

I have a 100% RECORD OF RETAINED SEARCHES over the past 20 years.

That’s some record!

Yep, 100%…

Sorry, what does that mean to me as a client?

That means I know you will work and work and work to find you the right person?

Have I lost money working on retained searches in the past?

Yes – I have!

Why?

Because I have never failed over the past 20 years and I don’t intend to start NOW!

I will charge;

  • 1/3rd at the beginning as a Retainer
  • 1/3rd upon presentation of Shortlist
  • 1/3rd upon Completion i.e. when the person starts with you

Maybe you have been burnt by recruiters who charged but they did not deliver results!

 

How about we combine both approaches and meet in the middle?

SOLUTION THREE – STAGED SEARCH

Retainer, Completion Fee

As before I charge you a retainer, this will pay for some of my time.

  • 1/3rd at the beginning as a Retainer
  • 2/3rd’s upon Completion i.e. when the person starts with you

The overall fee will be lower than the CONTINGENT APPROACH where I took all the risk, but it will be higher than my RETAINED SEARCH fee as the risk is higher.

We meet in the middle.

I only charge you the final 2/3rd’s of the fee upon completion of the assignment – remember as I haven’t recruited the role I am going to lose money.

I am betting on the fact that I can find you that right person.

You will have paid for some of my time and not been burnt in the process.

I have tried to create what I believe is a “win-win situation” for you as a client and me as a recruiter.

Believe me, I am incentivized to recruit the role – I’m not in business to lose money.

 

I hope this explanation gave you a deeper insight into what we do for our clients.

If you are a candidate you gained an insight into the world we live in and recruit within.

Maybe next time you are recruiting we can have a sensible open chat about what approach suits you best? I want to recruit your next Treasury professional. That is why I am here. If you are a potential client or candidate – please call me, we would love to help!

More resources for employers

The State of the European Treasury Recruitment Market

There has been a notable upward drive-in salary levels for junior and entry-level managerial positions within the treasury sector. Roles such as Treasury Analysts, Dealers, and Treasury

Managers have experienced significant salary increases ranging between 21% and 35%, underscoring the critical role these professionals play in managing a company’s cash flow.

This trend is particularly evident in the creation of roles such as Cash Managers and junior operational treasury positions across various European companies, where competitive salaries have become essential for recruitment success.

Several companies in Europe have had to adjust their salary offerings to attract the level of qualified candidates, as demonstrated by instances where positions, like Treasury Analysts, saw salary increases from €55,000 to €76,000, a 40% raise.

Similarly, we have seen Treasury Managers salaries with an average increase from €93,000 to €117,000, marking a 25% uptick.

Lengthy Recruitment Cycles Hampering Treasury Teams

Failure to offer competitive salaries has resulted in prolonged recruitment cycles, lasting between 3 to 6 months, prompting companies to reassess their compensation packages.

Despite challenges in illustrating the wide salary variation across Europe due to diverse economic conditions, Katie Hardie and I offer insights tailored to individual needs. It’s evident that economic disparities between regions impact compensation growth rates, emphasising the need for customised solutions rather than a one-size-fits-all approach.

The demand for Treasury Consultants, whether from consultancy firms or independent practitioners, remains high, especially for change projects, leading to substantial salary offerings. This demand underscores the value of high-level advisory skills, particularly in strategic financial risk management, and their impact on treasury and finance teams.

While the UK treasury market remains mature with limited newly introduced job opportunities, other European countries like Belgium, the Benelux region, Germany, and the Nordics have seen the emergence of new roles. Katie and I have been actively assisting clients in navigating these evolving markets.

We Foresee European Teams Recovering Before The UK

Our comprehensive salary survey has seen a significant increase in participants, reflecting our deep market understanding. Despite a modest average base salary increase for a Global Treasurer from €250,000 to €266,000, the doubling of participants strengthens our ability to negotiate competitive compensation packages for our clients.

Moving forward, European treasury teams are expected to continue growing with the creation of new positions, contrasting with the UK market where recruitment primarily focuses on replacements rather than expansion.

We encourage sharing the survey within your treasury networks to further enhance its impact and welcome suggestions for improvement. We strive to refine and improve our survey to better serve the treasury community. Thank you for your continued support.

Thank you to all those who take part in our Salary Surveys. It is only with your input that we can offer the insights into the state of the Global Treasury Recruitment market.

Our Treasury Salary Surveys are 100% Real!

We are aware that competitors create surveys simply to have something to talk about on LinkedIn unlike competitors’ surveys, our 100% real data approach ensures unique and reliable results.

With your support our authentic survey, offers unique value – “we use real data from treasury professionals, to give a one-of-a-kind treasury salary survey for treasury professionals globally”.

Please share our survey within your treasury network – colleagues, team members, superiors. The few minutes they give to the survey make it the powerhouse it is to this day!

Any suggestions on its content or areas to be explored are welcome. With your help, every day we improve the survey, thanks for your support.

Many thanks from me, Mike Richards, CEO of The Treasury Recruitment Company, I appreciate it!

Please Take Part In Our Ongoing Treasury Salary Survey!

This comprehensive survey is the foremost benchmarking tool for Treasury sector salaries. It gathers data from Treasury professionals worldwide, ranging from Treasury Analysts to Group Treasurers. By participating, you’ll gain exclusive access to the full results at no cost.

We are gearing up for the 1st set of results for 2024, we invite you to join them. Upon confirming your status as a Treasury Professional, you’ll receive a complimentary copy of the latest set of results and you are then included from then on!

All we ask is that you update your salary information whenever you get a well deserved pay rise 😉

Take the Salary Survey   Find out more

More highlights from the survey below;

Insights From Our Q1 2024 Treasury Salary Survey

So, salaries are rising, no surprises there but where are they going up most? This where our global treasury salary survey really offers the most invaluable insights for clients.

In the UK we have seen very moderate salary rises, in Europe there have much higher increases and in the USA in extremely high growth cities and expensive cities such as New York, and up and down the East Coast, the West Coast in California, we are seeing some exceptional increases in salary levels to acquire the right talent.

Overall, there are rising levels of compensation driven by geography not that surprising, but I think the pay rises demonstrate the value of treasury, and its people recognizing that if they want to get the best treasury staff, they must pay them often a premium to secure the brightest talent too!

Treasury is really being recognized as a specialized discipline and the value treasury professionals offer. When treasury was recognized as a specialist discipline 20 years ago, I saw treasury professionals earning a premium salary. People were saying treasury, which is special, we need to pay more for those people, great news they said, it also happened in areas such as tax. It offered far higher salaries than professionals who worked in general finance.

But a serious downside emerged, many treasurers became ‘separated’ from the business. They were seen as specialist providers who were often seen as being slightly outside of the mainstream of the business itself, they were money managers / risk mitigators in the corner office.

Treasury has spent, the past 10 to 15 years trying to get back into the business mainstream and it is finally doing it. Not always, but they are finally ‘re-integrating’ into for the most part!

I think that’s key, and our surveys highlight the fact that the strategic treasury positions do demand a higher salary if you want the right specialists in place. But the same can be said for others in the finance team. You want a strong CFO; you are going to pay more for them, if you want a great treasury person, the same, if you want a great tax person, the same again.

So, I think, again, that is one of the things you notice here. Our surveys span the globe, but we are always here to give individual advice about a country or region within a specific territory.

If I’m a client or candidate, can you offer me individual advice?

We are often asked by clients and candidates; can you advise us about salaries in our local area?

Yes. We can do that. That’s why we are here!

We can help if you want to know;

  • How does my salary compare to Central London?
  • How does it compare to Brussels, Amsterdam, the Netherlands? Benelux?
  • How does a different part of the country across Europe compare?
  • What are salaries doing in the Middle East?
  • What are salaries doing in the USA whether that’s West Coast, Midwest, or the East Coast?

It all varies widely. But that is why we are here because we talk to Treasury professionals across the globe.

Our survey shows the growth rates across each of the salary levels, each of the levels, and the different local and global economic conditions all impact treasury compensation.

To illustrate this if I take one example of the most senior level position in our survey, Global Treasurer / Treasury Director. It is interesting as in certain regions one might look at the figures and say the salary level has dropped. For instance, in the 2024 survey the average salary of a Global Treasurer / Treasury Director in the UK was around £320,000 but then in the survey it dropped to £300,000.

But it didn’t drop. What happened was that as our pool of participants at the senior level expanded, in this case the survey sample grew from 18 to 25, it gave us more distinct average of what a Global Treasurer in the UK earns.

When you compare it to our US sample, the average salary with 35 participants in 2023 was circa $390,000 and it stayed the same even as the sample size increased to 61participants, the average salary was $392,000. Showing that we have the right median.

That is one of the key things that we possess this knowledge as we grow and expand, and we continue to survey the market. We have these different levels and at the other end of the scale at the most junior level there are Treasury Analysts / Dealers.

Depending on the levels, again, in the US, our survey showed that the median shifted, from $91,000 to $88,000. But the actual survey sample size nearly doubled. So, what we are showing is we have incredible insights into the state of salaries throughout all levels of treasury – if anyone needs individual advice, we are here to give that as well as that is one of the things we do.

So it’s just about my salary then?

Salary is one factor, and the numbers say one thing. However, it is not all about the numbers. That is what we have always said. Salary does not actually determine whether someone stays with your company or leaves.

We survey the market. There are several factors.

Yes salary is part of the decision-making process behind someone moving on but equally soare the non-monetary factors. Treasury professionals want roles that not just come with reasonable levels of reward, but also a supportive boss, supportive management and team, a clear progression path.

We get this by, once again, finding out that the top reason people leave is not because of salary. It is because they are not being satisfied in the work that they do.

It is often at a later stage, when they are not being rewarded enough that becomes the tipping point to someone decided to move on. Before that, our salary surveys show time after time, it is about having a good boss, having work that they enjoy. Salary, depending on the groupings is fourth or fifth, in terms of why people are looking for a new role.

“I BELIEVE REMOTE WORKING IN TREASURY WILL DIE OUT!”

As well as job satisfaction per se, I have talked and been interviewed about my thoughts about the new world of hybrid. And I have said before and I will again, that the world of remote work in treasury will die out.

It is dead. 100% remote working within treasury, I do not think is going to last in the future. I think it will die out because treasury by its very nature is a collaborative discipline.

There are some more specialized disciplines within finance, which I think do lend themselves more readily to remote working. However, I do not think that is the case with treasury.

Treasury professionals want to collaborate and work with each other for anywhere between 2 to 4 days a week. But the 4-day week will be infrequent rather than an ‘all-the-time’ arrangement – the general average is 2 to 3 days in office.

This means that people are working as a team. They are growing as a team. They are training as a team, and they are very collaborative in the way that they work.

It is a blend of both on-site whilst adapting to couple of days a week being more task focused, and that’s where treasury is adaptable. As employers you need to embrace the idea that they have set ups that allow for a blended office work experience with teamwork and on-site not being mandatory, but rather encouraged and embraced when necessary.

Our treasury salary survey gives amazing insights into salary levels. We often disagree with some of the thing’s economists say about percentage increases between this quarter and the next.

One example is that I recently saw a survey that said in general, base salary levels are rising on a quarterly basis by 5%. I have not seen those rises.

Pay rises are more granular, and it is more complicated than just broad-brush strokes saying, oh, there has been a 5% rise in overall salaries everywhere.

There might be at certain levels. There might be a 10% rise at certain levels within certain specialist treasury positions, but treasury is a specialist discipline.

To conclude, our survey gives amazing insights into not only salaries, but also the treasury profession.

It highlights why Senior Finance professionals, whether they are Treasury Managers, managing mostly junior members of the team through to Global Treasurers or indeed CFOs need to embrace new work models, technologies, and think about how to help the finance professionals within their organizations function and stay effective within what is a still fluctuating economic backdrop.

Both individuals and organizations alike, particularly within the treasury arena, need to adapt to these emerging changing emerging trends.

Flexibility, technical technology integration, and a renewed focus on job satisfaction are going to be key in attracting and retaining treasury talent within the corporate treasury sector, not just for this year, but for years to come.

Final words

Thank you to all those who take part in our Salary Surveys. It is only with your input that we can offer the insights into the state of the Global Treasury Recruitment market.

We are aware that competitors create surveys simply to have something to talk about on LinkedIn with your support our 100% real survey, offers unique value; “we use real data from treasury professionals, to give a one-of-a-kind treasury salary survey for treasury professionals globally”.

Please share our survey within your treasury network – colleagues, team members, superiors. The few minutes they give to the survey make it the powerhouse it is to this day!

Any suggestions on its content or areas to be explored are welcome. With your help, every day we improve the survey, thanks for your support.
Many thanks from me, Mike Richards, CEO of The Treasury Recruitment Company, I appreciate it!

Please Take Part In Our Ongoing Treasury Salary Survey!

This comprehensive survey is the foremost benchmarking tool for Treasury sector salaries. It gathers data from Treasury professionals worldwide, ranging from Treasury Analysts to Group Treasurers. By participating, you’ll gain exclusive access to the full results at no cost.

We are gearing up for the 1st set of results for 2024, we invite you to join them. Upon confirming your status as a Treasury Professional, you’ll receive a complimentary copy of the latest set of results and you are then included from then on!

All we ask is that you update your salary information whenever you get a well deserved pay rise 😉

Take the Salary Survey   Find out more

Salaries & Recruitment Insights into the US Treasury Recruitment Market

I have been thrilled with the growth of our participant numbers in the US. A 50% improvement between 2023 and 2024. Once again, this gives us a greater insight I to the different salary levels, and it helps us offer more concrete advice to our clients.

When we say to them, we know the average salary of a Treasury Analyst / Dealer is from 35 in our sample. Whereas when we have 57 in our sample, it means the advice we give is more powerful because we have a greater sample size. And that continues across all levels.

At our Global Treasurer / Treasury Director level, our sample size has risen from 35 to 61. And once again, with a total compensation package of $390,000. And its barely shifted, but the fact is, we know that is the typical average salary for a Corporate Treasurer in the US.

There has been strong growth across the whole spectrum of treasury roles from entry level Analysts through Managerial levels up to Senior Directors showing robust demand for treasury. But in the US market, the competition for us in terms of recruitment is still the lack of knowledge of the specialist service we provide.

The Default Setting for HR Teams Is LinkedIn

The default setting for many HR and talent teams in the US for recruiting treasury staff is LinkedIn.

We have often seen clients sift on LinkedIn for 3 to 6 months, unsuccessfully, come to us having had a 100 to 200 responses often. And yet we have been able to fill the position by knowing the best 12 people in the market, putting them forward.

And then next thing we know, we make a placement.

The US’s diverse economic landscape is mirrored in the compensation growth across a range of different treasury positions. But geography is not the only factor. It is a key factor. But at the end of the day, the number of roles, once again, we have seen some roles average out, if you like, in our survey. Not showing a huge increase in salary, for instance, at the Deputy Treasurer level, because several Deputy Treasurers have remained on similar salaries.

However, what I have been seeing is that a few Deputy Treasurers have been promoted, and they have taken on the next level of role going from Deputy Treasurer to Group or Global Treasurer. You have also seen other Assistant Treasurers moving from the Assistant Treasurer roles.

They are paying at the sort of $190,000 range up to around $200,000 to 220,000 range. But I have seen quite static salary levels right across from the upper managerial levels, i.e. Assistant Treasurer and right the way through to Global Treasurer.

So, salary levels have not increased hugely. What I have seen, as I have said in the overall summary, is that roles

themselves have changed drastically from a 100% in the office to number of Treasurer positions, 100% remote.

Do I think this will last? No.

I think Treasurer roles will become 2 to 3 days a week in the office to help guide, manage and most importantly mentor their teams.

Do I think that is the right balance? I do.

I think if someone is demanding that people are back in the office 5 days a week, it is a disadvantage to any employer to have that as it is a negative statement to say to potential applicants, you must be in the office 5 days a week.

You might have a long list of say 100 people before if you insist on 100% in-office this list drops to 10 to 15 if you are lucky! It is not a practical way to think about it.

One needs to review and think, how am I going to recruit this role? Again, that is where we can give realistic advice.

Base salaries for all levels of roles within the US have increased across the board. However, packages themselves have consistently remained consistent, i.e. value-added packages have not really increased. What I have seen is several clients have been saying, I am not going to make a move this year simply because this will be the first time, I am collecting a decent bonus or a bonus in many cases post COVID.

They got zero bonus during COVID or an exceptionally low bonus. They were being told they are lucky to have a role. Then the year after COVID it started to get back to normal. The year on from that, which is this year, they are now starting to go, okay.

Now I would like to get some more bonus, please, or I would like a decent increase in my package. Well, no. You are not going to get it. Okay.

We are getting an absolute influx of resumes from senior treasury professionals desperate for their next move. So once again, if you are looking for people, looking for senior candidates, just give us a call. We would love to help.

We are aware that competitors create surveys simply to have something to talk about on LinkedIn unlike competitors’ surveys, our 100% real data approach ensures unique and reliable results.

Our Treasury Salary Surveys are 100% Real!

With your support our authentic survey, offers unique value – “we use real data from treasury professionals, to give a one-of-a-kind treasury salary survey for treasury professionals globally.”

Please share our survey within your treasury network – colleagues, team members, superiors. The few minutes they give to the survey make it the powerhouse it is to this day!

Any suggestions on its content or areas to be explored are welcome. With your help, every day we improve the survey, thanks for your support.

Thank you to all those who take part in our Salary Surveys. It is only with your input that we can offer the insights into the state of the Global Treasury Recruitment market.

Please Take Part In Our Ongoing Treasury Salary Survey!

This comprehensive survey is the foremost benchmarking tool for Treasury sector salaries. It gathers data from Treasury professionals worldwide, ranging from Treasury Analysts to Group Treasurers. By participating, you’ll gain exclusive access to the full results at no cost.

We are gearing up for the 1st set of results for 2024, we invite you to join them. Upon confirming your status as a Treasury Professional, you’ll receive a complimentary copy of the latest set of results and you are then included from then on!

All we ask is that you update your salary information whenever you get a well deserved pay rise 😉

Take the Salary Survey   Find out more

How to be successful at your next job interview

1. Dress to Impress

Dressing smartly and being punctual will give you confidence and the opportunity to relax into the environment as you know you are prepared.

A good, firm handshake is vital. Maintain good eye contact and be cheerful, smile.

All these factors help create a positive first impression. You only get one chance to make that impression.

2. Positive Mental Attitude

You’ve done the groundwork. You’ve got an interview and probably beaten 10 others to get there. Well done, smile you’ve got this!

You have earned this interview, so the client is obviously eager to meet you; don’t be afraid to talk about your strengths and showcase who you are!

They want you – be positive about yourself – you have got this far so you know they are interested in you but try not to waffle.

Give 2 to 3 key strengths that you have that lend itself to this position?

1. ………………………………………….…………………………………………….…

2. ………………………………………….…………………………………………….…

3. ………………………………………….…………………………………………….…

3. Ass/Arrogance

Don’t Be an A***!
Confidence is an attractive quality.
Overconfidence or arrogance never is.

4. Loyalty

Critical but loyal – whatever your reason for leaving a current role. Try to be loyal to your current employer whenever possible.
Avoid, where possible, open criticism of your current employer. Saying horrible or damaging things about your current employer may worry a future employer. They may mark you down as a negative influence.

Have positive reasons for wanting to leave. Explain your reasons for leaving i.e. lack of progression can be one but being 100% negative will only cause clients to question your loyalty, they will wonder whether you will show loyalty to them.

Try and focus on why you want to join the new company rather than just focusing on leaving the old one.

Give 2 to 3 positive reasons why you are looking to leave your current position?

1. ………………………………………….…………………………………………….…

2. ………………………………………….…………………………………………….…

3. ………………………………………….…………………………………………….…

5. Answer the Question

When you are asked a question, answer it clearly and succinctly!

If you don’t know the answer don’t fluff it, explain it’s not an area you have covered.

Try to relate if possible to other areas you can talk about and how they may interrelate to the area they want to talk about.

You can also express that’s one of the reasons you want to join a company to develop that very knowledge.
Remember they don’t want to trick you. They want to understand the scope of your knowledge and where you can contribute and where they need to train you.

They want you to get the job too. If they didn’t you wouldn’t be sitting, there.

6. Know your CV or resume

Rehearse talking through your background at least 3 times before you get to the interview.

It will give you more confidence and it will make a positive impression on the interviewer.

7. Why are you there?

Why do you want this job? It seems an obvious question, but it gets asked an awful lot!!

Explain the reasons why you were initially attracted to the position.

Give 2 to 3 reasons why you were attracted to this position?

1. ………………………………………….…………………………………………….…

2. ………………………………………….…………………………………………….…

3. ………………………………………….…………………………………………….…

Stress where your current skills and qualities match the role now and then explain where you see the role developing and how you will develop with it too!

Remember this is your chance to shine.

Avoid aspects such as more money or shorter hours.
These factors might be attractive to you but someone who simply wants to move for more money and less work is hardly likely to endear you to a new employer!

Emphasize the positive! Career development. Personal growth.

Yes, you can mention improvements in pay and conditions but think about what your prospective new boss is thinking.

Explain at least 2 areas where your skills in your current position match the new role?

1. ………………………………………….…………………………………………….…

2. ………………………………………….…………………………………………….…

8. What questions do you have?

Even if all your questions have been answered always have a couple up your sleeve. This demonstrates your interest in them and in the position and the company might measure by this so if want the job ask a decent question.

It may also help you decide if this is the right move for you.

Maybe the question relates to the earlier research you did on the company which is a good chance to impress.

It may relate to the future development of the team/company again this shows long term interest!

You can also flip the question saying you feel like the role suits you maybe and do they think the same or are there any concerns/questions they have?

This also gives a chance to leave a positive impression and deal with any lingering doubts they may have / that you didn’t quite deal with earlier!

Have at least 2 to 3 questions that you can ask your potential future employer?

1. ………………………………………….…………………………………………….…

2. ………………………………………….…………………………………………….…

3. ………………………………………….…………………………………………….…

Job Interview Checklist – How To Nail Your Next Job Interview

Before the Interview

Dress to impress

Dressing smartly and being punctual will give you the opportunity to relax into the environment. A good, firm handshake is vital. Maintain good eye contact and be cheerful. All these factors help create a positive first impression.

PMA- Positive mental attitude

You have earned this interview so the client is obviously eager to meet you; don’t be afraid to talk about your strengths. If you have researched and prepared thoroughly you will be able to communicate why you are attracted to the role, the company and why you feel you are suitable for the position.

Research is key

Do your research, look at the company website and check their annual report and press releases. Learn as much as possible about the position from the job description.

Who are you meeting

Find out about the interviewer/client from the consultancy that has put you forward for the role, talk to any other business contacts that may be able to advise you.

Check yourself out first!

Review your CV, think through your career history and anticipate the questions you will be asked and prepare some answers. Clients are impressed with candidates who are prepared for their interview. Rehearse with a friend or colleague if necessary.

What do they want

List what you think the prospective employer will want from the ideal candidate and consider whether this is you. Summarise your involvement in relevant projects associated with your previous employment so when asked you are able to give fluent comprehensive answers to the interviewer.

Are you their perfect candidate?

Consider your key strengths, weaknesses and motivations for leaving your current role and desire to join the new employer. Prepare to be asked about them.

It’s quiz time!

Prepare some quick questions to ask them – this demonstrates your interest in them and will help you decide if this is the right move for you.

Any Concerns?

Remember this may be the last opportunity you will get to explore and concerns or worries you have about the new role directly with the client prior to being offered a role, later stages of the interview process may be carried out with other company employees rather than the client themselves.

Prepare, prepare, prepare

Prepared candidates impress clients!

During the Interview

They want you

Be positive about yourself – you have got this far so you know they are interested in you but do not waffle. Short concise responses are often better than confused answers.

Be aware of the balance between confidence and arrogance!

Be confident but not overly confident or arrogant.

Who are they?

Be well-informed about the company, its record and achievements, about the job and why you want it.

You are the right person for the job

Remember throughout the interview you will need to demonstrate to the interviewer you are technically qualified to do the job and motivated to get the job done well – you’re positive answers should reflect this ethos. They will also be assessing whether you will fit in with the company’s organisational structure and the team in which you will work.

Critical but loyal

Whatever your reason for leaving a current role avoid, where possible, open criticism of your current employer as this will only cause clients to question your loyalty and consider whether you will show the same level of loyalty to them.

Are you interested?

Prepare questions to ask them about the role and company as this will demonstrate your interest in the role.

Typical Interview Questions

Why do you want this job?

Think carefully about this question. Stress the positive aspects which have attracted you to applying for this position.

What qualities do you think will be required for this job?

Their advertisement for the job may help you a little bit, but you should also think of the other qualities that may be required. These may include leadership ability, supervisory skills, communication skills, interpersonal skills, problem solving, analytical skills, etc.

What can you contribute?

This is your chance to shine. Tell them about your achievements in your previous position(s) which are relevant to the new position you are applying for.

Why do you want to work for this company?

Emphasise the positive reasons why you want to join their company, but avoid aspects such as more money or shorter hours. These would not endear you to a prospective employer.

What do you know about this company?

This is your chance to impress the interviewer with your knowledge of their company. Give them a rundown of their products/services, sales figures, news, company figures, customers, etc.

What interests you about our product/service?

Again, your research into the company should aid you in answering this question.

What can we (the new company) offer that your previous company cannot offer?

Tread carefully here! Again do not mention money. Stress opportunities for personal growth, new challenges, etc.

After the Interview

How did it go?

After the interview, consider the areas you feel went well and those that you felt you needed to work on – then actually work on them! If there are knowledge or experience gaps missing then this may be an ideal chance to consider them and work out whether you can fill in the gaps from within your current role to improve your chances next time.

Anything you are they missed?

Also you need to call either the consultancy or the interviewer directly for feedback and thank them for their time. This may be the appropriate time to discuss any areas that need development as they often they become less of an issue through discussion at this stage.

OK not this time, what about next time?

If you are not successful in your job application, consider telephoning the person who interviewed you to get feedback why you were not selected. This may not be appropriate depending on the client but if you discuss this with the consultancy they are in the best position to advise you further.

Chin up! – As a final note, please remember that not every position is the right one for you so keep your chin up and you are sure to find the role that is right for you!

If you want any further interview advice feel free to call us!

Get in touch   View Candidate Resources