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.
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