"Key Take-Aways From The 2021 Treasury Salary Survey So Far?"

Mike Richards and Ernie break down early results from the 2021 treasury salary survey. They discuss how the market is recovering, why salary data stays confidential, and what recruitment consultants know that others don't.
I think as expected, the market is coming back to life. You know, we're recovering post pandemic. It's a new kind of working, you know, this new working from home. Be prepared to answer that question about how many days you're going to be in the office, you know, and have a proper answer. And you know, not just, well, we're going to be in the office two to three days in office. Okay. Okay, great. Why? Well, because. Why, why do you need to be in the office? Do you need to be in the office? You've just done, you know, 12 months without even being in the office. Why do you need to be the office? Stop. You know, it's like if you do. And yes, people want to collaborate and particularly at the more junior levels and a lot of those guys need more hands on coaching and more, you know, into interactive coaching. That's a key thing. So it's about looking at the team members as well. Ernie and I have done various sessions where we talked about treasury skills wheel and look at that. But that's exactly what your responsibility as treasurers, if you like to your team and your colleagues is that the guys working for you, you're going to have to look at that. There is something I'm going to do and see if Ernie would be very kindly. Can you take us back, Ernie, to the chart with all the numbers, the US Numbers because there's a really strong point in there. Thank you. I mean you can thank me now, but thank me later, mate. There you go. Base salary data. When I was talking to this client yesterday, I was really interesting and I underestimate our superpower that we should have actually had. And maybe we'll get this changed with a lovely Ernie flying on a Superman outfit. No, you guys don't want to see that. You see jackets. Yeah, we don't want that anymore. But joking aside, I said look, we have a superpower as a recruitment consultancy. And she's like what? I said, I, I know people's salaries. And she was like, oh. I said, and I said when we hire people and when we put forward candidates to clients, we are not allowed to supply them with their salaries. Because quite rightly in the US you're trying, you're redressing the gender gap. So what you're trying to do is, you know, not get clients to choose people based upon their base salary. May have seen this across the US you're not allowed to request what is your current salary. You're allowed to ask an expectation of salary, but not what their actual salary Is. Well, we know it. That's our superpower. We know this. We know that someone is currently on 85 and that they are seeking. I actually talk to them, and then they will say, I want 120. I'm like, well, good luck with that. You know, I'm on. I'm on 200. And actually, I'm. I'm not looking really for that much of an increase. I want a better work life balance. I want a better boss. Yeah, we can help those people. This is where, when people come to us, we're able to give them advice. And we don't give them advice based just on the base salary, but that is our superpower. You know, we actually know where these candidates are. We know how much they're paid. We know what the next step should be for their treasury careers, not just for their base salaries. Again, this is good, but this is the key thing, and I underestimate that to my cost. And this is one of the key things only. Sorry to mess up the slide deck, but I just thought it was important that some of these people go, oh, yeah, these guys know about everything. And we do. We know about what you want, we know how happy you are, we know what you're looking for, we know what's important to you, and that's where we have the value.
All right, thanks, Mike. I just want to add on a little bit to the superpowers here. I'm trying to join the Justice League. So Mike has always done a fantastic job. And even, you know, from outside view, maybe even four or five years ago, to me, it was a little bit senior tilted. And so Mike has been adding to his team, right, to make more of a commitment to people, a little more junior people, and I'm happy to be a part of that. And he's building up that team. So that commitment. And for me, it's like, who do you want to trust your career to? Right. It's about relationships and any. Any issues that I had about recruiters at all. I went to the treasury recruitment website and there was so much thought leadership stuff and free stuff and free advice. And it shows that Mike cares about the people that come to him and the companies that care. And so I think you deserve that for your.
And one of the things that, you know, you saw a little bit there that, you know, there's, you know, this big part of the survey is obviously senior treasury leaders, because we talk to those guys and they are our clients and they're our candidates. And so we get a lot of them and they trust us. You know, this is one of the other things to add about the survey is confidential. I got an email, a lady took part in the survey the other day and she only put some, you know, date, very sketchy detail in there. So I called her up and she was like, she avoided my call. I left a voicemail and then I sent her an email, said, I think you might be a spammer or might be a rival. I'm sorry, you're out of the survey unless you tell me who you are. Oh, right, okay. Drop an email. She came back, said, I am this, I am this. And I said, look, this is confidential. We don't share the full information with anybody. We've been the keeper of secrets for 20 years, so it's protected, we keep the data secure and we give you the real results and things like that. Now, one of the other things I was going to say about that is that the treasury analyst manager levels. Yes. We've got less of those guys taking part at the moment. I think there's a simple reason you guys, as you're at that level, are blooming busy and so you're going, oh, haven't got time to do this, take part. Treasurysalary.com it takes two minutes, start to finish by doing that. Then when you go to your next pay review, hopefully we're in September now, you know, you're going to go to your boss and go, look, the survey says this. Oh, okay. All these other guys are being paid another 10, 15, 20% more. And, well, how many people have they surveyed? One hundred and twenty other treasury analysts. Okay, well, let's have a review of your salary, shall we? So, and again, that applies at all levels. We give ranges, we give averages, and we can also give individual advice as well. That's another thing, if you ever need a call. We were just brainstorming yesterday with this client that said, what will I get for this level? I said, right, if you want to make it 95, good luck, I can't help you. I said, for what you want, that role is going to be much more senior. I won't give the full details, but let's say it's more senior. And that's one of the things we give advice. That's what we're there for.
Great. So final thought, everyone on the session. You deserve to get what you're paid and you deserve to be in the environment where you can make the most professional impact. Mike, thank you so much not only for your support on this event, many sessions, and for being willing to stand alongside me and work to impact the success of all treasury and Finance professionals.
It's only water, but I'll still do it. Cheers to you. Cheers.
There you go. All right. Thank you so much, everyone, for taking the time to join us for our session today. As always, my new thing. Knock on my door and I'll answer it. Make the rest of your day great.
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