Firstly, a lot of people do our Treasury Salary Survey.
The survey is taken by Treasury professionals at all levels, and provides you data on entry level treasury salary ranges right through to Global Treasurer and everything in between.
Some people come into the survey, and they say that they are a Treasurer but when we go to validate them, are they actually more a Treasury Director?
We recently split out the categories, Group Treasurer’s to Global Treasurer. Because I’ve got people that are a Group Treasurer for a housing association, domestic in the UK versus Global Treasurers that manage 80+ people over five continents.
They’re two different ends of the scale. But they both do the job of the Group Treasurer and deserve that respect, so they go into two separate categories.
Treasury Manager is an interesting one because it straddles. A Senior Treasury Analyst becomes Manager and then they become Senior Treasury Manager. Or sometimes they may jump into an Assistant Treasurer role or something similar at the next level.
So, Treasury Manager is quite a bulky category when we come to categorising them. That’s one of the key things, but actually it’s also got the most distinct differences.
I placed a Treasury Manager in Texas at the end of 2021 on $140,000.
I’ve had a couple of clients coming to me saying, “I want a Treasury Manager with quite a broad breadth of experience. Not international, but still focusing on that in Texas.” Now, at the back end of 2022, with inflation etc. they are looking at around $160,000.
You’ve got Junior Treasury Managers up to Senior Treasury Managers, so we analyse the role and their salaries according to how many countries they look after and everything else.
How do we judge it?
Well, we also look at the number of staff they manage or are responsible for as well as looking at the size of the company. The location of the role also plays a huge role.
Sometimes Treasury Managers are the proper Head of Treasury, really. Or sometimes they’ll call themselves Head of Treasury, but they’re not. They only manage the UK or have a limited portfolio, but they are the Head of Treasury within that organisations structure.
Treasury Manager salary ranges in the UK and Europe
A Treasury Manager in the UK will typically be on between £80,000 to £100,000 or somewhere in that range, depending on if they’ve got staff to manage.
We placed a Senior Treasury Manager in the UK recently on £115,000.
And then further afield in Europe, salary does tend to go up in comparison to the UK, and again, some of the Treasury Managers might have the title Head of Treasury.
I had quite an interesting chat with a client that I was recruiting a Group Treasurer role for earlier this year and after placing them, they decided to name the position Head of Treasury.
The job wasn’t a Head of Treasury role, it was a Group Treasurer job over £150,000 in the UK. So, it just goes to show that job titles and salaries don’t always go hand in hand and there are so many other factors that need to be considered when it comes to really understanding the level of the role, including the structure of the business.
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