Salary Survey Guide Sep ’21
Updated with the latest sectors and salaries to reflect the latest trends, market activities and salary market rates.
Salary Survey September 2021 for Finance and Legal Jobs – Malta
This data in this Malta Salary Survey was conducted by over 12,000 finance and legal professionals currently working in Malta. The Salary guide refers to annual salary data before tax. Malta remains an attractive country to work and build a career and Income tax is relatively low-income taxation by European Standards. There are references to employee benefits packages however the salary data tends to basic gross income rather than total remuneration packages.
Despite the addition of Malta on the so-called grey-list for money laundering (which has been the hot topic over the last few months) and the potential negative effects that has had on the Maltese market. However, all parties in government, financial services, in the igaming industry have continued to respond proactively and positively. Malta-based organisations are continuing to increase the resources available to their compliance departments. There has been a positive impact on recruitment as companies are hiring more Anti-Money Laundering Officers and Money Laundering Reporting Officers.
There is now a flow of great opportunities for professionals who are experienced in this space or people who want to build a career in the Malta financial services and igaming sectors. This turn of events has affected companies hiring in the sector with the average salary in this sector showing some signs of salary increase.
The past few months have been very interesting, perhaps in light of Malta landing on the grey-list, the demand for training from hiring managers has increased both within the accounting, legal and compliance sectors. This offers great prospects that Malta will soon gain back international trust, thus creating a great culture and debate around the best practices for the regulated markets.
Remote work has been very topical over the start of 2021 as many offices try to develop hybrid models and others continuing to work remotely. The preference of candidates is mixed with some opting for hybrid options while others want to remain in remote work. All things considered, it seems like a theorist discussion with many companies still seeing the remote option as a plan B or more a complementary approach to the standard office option.
In general, the jobs market in Malta is very strong and vibrant with plenty of job opportunities for candidates and international candidates considering Malta as a location to live and work. The only main point to be rethought is how to make it easier for people to relocate to the island and bring value to an employee job market. In certain areas such as AML, Compliance and MLRO, the remote option does not seem to be the full solution to all problems as these professionals (and companies) feel more secure being physically present when carrying out these checks and regulations.
How do we get this information?
We compile this salary survey from 12,000 people in Banking, Finance and Legal in Malta. We also look at the salaries offered by 150 companies and government organisations across the Maltese Islands.
We consider trends in regulation in the EU, which have a significant impact on the Finance and Legal Jobs and Employment in Malta. We also consider local information and statistics from the NSO.