Corporate Services Jobs Market April 2023
One of Malta’s most energetic environments is the Corporate Service industry. The number of companies forming in Malta does not appear to be slowing down, and the sector is stronger than ever (despite rumours from authorised personnel that the speed is much slower and new businesses are struggling). This is because the industry must manage and maintain the many companies that are already established and operating in the Maltese market.
The majority in this industry will cite the difficulty in locating qualified professionals in the field and declaring the decrease of auditors, CSP accountants, corporate attorneys, and admins. This is evident, but rather than it being a drawback, it presents a fantastic opportunity.
For expanding companies, professionals who can expand internally or even launch new CSPs, and international professionals who are intrigued by the opportunity, are in a position to enter such a vibrant market. The country desperately requires skilled workers in this field, and foreign nationals from nations like India and the Philippines, who follow a similar academic path to that of Malta, are assisting in making the industry sustainable.
In the administrative area, there is more latitude for hiring candidates from other industries, particularly at the junior level, who value administrative, hard skills more than soft skills acquired elsewhere. This innovative advancement is worthy of notice.
For both junior and senior roles, salaries have increased over the last 6 months, with the latter receiving a more significant raise. The junior level’s flexibility contrasts sharply with the senior benefits at this level and share options for the highly senior professionals plays a role in the skill of attracting and recruiting more candidates.
To be more precise, the CSPs are attempting to as closely resemble the iGaming industry as possible by providing more remote work (typically 2 days per week), exercise reimbursement, and health insurance. It is also usual to offer senior management professionals a very organised career path to partnership.
This makes it possible for company owners to compete both financially, since the profit share ultimately amounts to a very generous bonus, and strategically by providing a career structure for the most reliable professionals.
For more information on the current Corporate Services jobs market and the latest salary bands, please download our Salary Survey below.