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The insurance and financial services sector has always been at the heart of the nation's economy.

In recent years, it has faced significant challenges, from ongoing Brexit uncertainties to the lasting impact of the pandemic.

As the industry continues to navigate obstacles on the back of these economic issues, we’re seeing a greater number of firms embracing change which is significantly impacting the world of work for the current and next generation.

Businesses are vying to retain valuable talent, highlighting the need to offer competitive salaries and benefits amid economic uncertainties.

It’s important in the jobs market we’re in, to benchmark salaries against your competition to ensure you can attract and retain the right professionals to your workforce.

Using data from 17 million jobs posted on since 2016, our 2024 insurance and financial services salary guide is the ultimate industry salary checker. By using our guide, you’ll understand what insurance and financial services jobs are worth across all regions of the UK, helping you to offer the best salaries and benefits to your employees and stand out from your competition.

We’re seeing a greater number of firms embracing technological changes – in particular the use of AI and automation – which is significantly impacting the world of work.

Leanne Appleton

Insurance & Financial Services Recruitment Expert, Reed

Who is the Reed insurance and financial services salary guide designed for?

Whether you’re looking to find out the UK average salary, what your current salary should be, what the next step on the career ladder could see you potentially earn, or whether you are paying your team a competitive rate, our salary guide allows you to compare UK salaries across a variety of roles – from actuary salaries to mortgage advisor salaries – across all regions.

Are you an employer looking for benchmarking advice?

You can use our insurance salary guide to compare salaries and benefits, allowing you to ensure your remuneration packages are up to date and on par with the rest of the industry. At a time when talent remains in high demand, you must stay ahead of the game to appeal to those looking for new opportunities. Failure to do so could leave job application numbers low and your competition thriving.

Are you trying to find out what you should be earning?

Use our 2024 insurance and financial services salary guide to understand your worth, help you decide on a new job you have been offered, or even plan for the next step in your career – would you earn enough if you were to change role or location?

What jobs does Reed’s insurance and financial services salary guide cover?

Our 2024 insurance and financial services guide assesses salaries and benefits across all 12 UK regions – from East Anglia and the North West to Wales and the South East – highlighting noteworthy developments using graphics to depict key salary changes over the past year.

It will provide you with direction on salaries and benefits for some of the most prominent roles in the insurance and financial services sector, including:

  • Actuary

  • Financial advisor

  • Insurance risk manager

  • Loss adjuster

  • Mortgage advisor

  • Paraplanner

  • Underwriter

So, whether you’re looking to hire a new member for your team, or trying to find out what salary you could be earning, you can use Reed’s guide for reassurance.

Most financial services firms have fared well, demonstrating strong operational resilience, while the use of multiple suppliers, outsourced service delivery via near-shore and off-shore models, and joint ventures have helped contribute to an improved picture for the industry.

Leanne Appleton

Insurance & Financial Services Recruitment Expert, Reed

Why download Reed’s insurance and financial services salary guide?

It’s the most trusted insurance and financial services salary guide in the UK.

The guide provides you with the average UK salaries for roles across industry over the last three years, along with projections for 2025, and compares average salary growth – highlighting the impact of inflation since 2016. Using graphs and visuals, we point out some of the largest salary increases across each region, as well as those roles in which salaries continue to climb year on year.

On top of this, our insurance and financial services UK salary checker features insight from our specialism experts and regional management team. With rich data at your fingertips, you can ensure you are best informed to make the right choices.

How can the Reed salary guides help with my benefits/rewards benchmarking?

As part of our suite of annual salary guides, we surveyed 5,000 UK workers, in November 2023, to help further inform you. You can read the full highlights in the ‘Our survey says’ section of the guide.  Key findings from our research include:

  • One-in-four professionals are feeling unhappy with their current salary

  • Only half of respondents feel confident they will achieve their comfortable salary at some point

  • Three in 10 say they don’t receive any workplace benefits at all

  • The three most common benefits received are: flexi time (20%), a company pension higher than the required amount (18%), and an annual salary increment (18%)

  • Workers’ top-three desired benefits are: an annual salary increment (45%), a four-day working week (36%), and flexi time (36%).

To help you make an informed choice on all things UK salary and benefits in the insurance and financial services sector, download our free salary guide using the button above.

Reed salary guide 2024