Salary Survey Guide Apr ’23
Updated with the latest sectors and salaries to reflect the latest trends, market activities, and salary market rates.
Salary Survey April 2023 for Finance and Legal in Malta
Malta continues to be in a perfect low-pressure environment accompanied by a blue sky and the beaming sun despite the clouds of recession that are approaching in continental Europe. We can confidently state that Malta continues to be a great location to start a business or join a flourishing finance and legal market despite the bad news that is increasingly coming from other nations.
It appears that the majority of businesses looking to attract top talent to the island, place a strong priority on hiring and recruiting. This pattern is evident in accounting, where there is a strong demand for professionals who are fully qualified or part qualified and a trend of consolidation within the iGaming industry.
The same circumstance exists in the corporate services and insurance sector. The hiring growth is not as frantic as in previous years however, companies in these sectors are hiring more selectively in strategic fields or adding one or two key hires to each division without drastically altering the way things are currently done.
Following a period of stabilisation over the past few months, the compliance and legal industries appear to be in higher demand once more. After the rapid expansion during Moneyval, there was a period of stabilisation, and now the numbers are increasing once more.
While the legal industry is returning to its origins and rediscovering its fascination with the traditional firm environment, compliance is becoming a very specialised industry. This is increasingly being recognised as a clear path to develop or improve skills that can later be applied internally.
The banking industry remains appealing and continues to modernise its infrastructure; however, it was initially reluctant to embrace hybrid or remote working but has since become more adaptable in order to attract talented professionals and compete with the iGaming and Cryptocurrency markets.
The human resources departments are unquestionably in a strategic position to drive all of those changes: whether the change is one of expansion, consolidation, speciality, or redesignation, they are always one of the key players.
As a consequence, businesses are investing more and more in this industry, from hiring new employees to developing their expertise in more specialised areas like payroll and employee relations.
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.