Finance & Legal Salary Survey

Accelerate Recruitment Finance & Legal Salary Survey February 2024

Salary Survey Guide Feb ’24

Updated with the latest sectors and salaries to reflect the latest trends, market activities, and in-demand skills.

Salary Survey February 2024 for Finance and Legal in Malta

Heading into 2024, Malta’s finance and legal market continues to exhibit resilience and adaptability, maintaining its attractiveness as a hub for business and professional growth despite the looming economic uncertainties in broader Europe.

The finance sector in Malta remains vibrant, with a sustained demand for both fully qualified and part-qualified professionals. This demand is particularly pronounced in areas such as digital finance, fintech, and regulatory compliance, reflecting the sector’s ongoing evolution and the integration of new technologies. While the iGaming industry is showing signs of consolidation, it continues to be a significant contributor to the finance sector’s growth, adapting to changing market conditions and regulatory landscapes.

The legal market is returning to its traditional roots, with a renewed focus on classic firm environments. However, there is a noticeable trend towards specialisation, particularly in areas like data protection, digital rights, and corporate law. The sector is recognising the value of developing niche expertise, which can be applied in various internal roles and client advisories.

In corporate services and insurance, the hiring landscape is becoming more strategic and selective. Companies are focusing on key additions in strategic roles rather than large-scale expansion, indicating a shift towards optimising existing operations and enhancing quality over quantity in their workforce.

After a period of stabilisation following the rapid growth during the Moneyval evaluations, the compliance sector is witnessing an increase in demand again. This resurgence is driven by the need for specialised skills in areas such as anti-money laundering (AML) and regulatory compliance, as businesses adapt to the increasingly complex regulatory environment.

The banking industry in Malta continues to modernise and evolve. Initially hesitant to adopt flexible working models, banks are now embracing hybrid and remote working arrangements to attract and retain talent. This shift is essential for banks to remain competitive with the burgeoning iGaming and cryptocurrency markets, which have been quicker to adopt such flexible practices.

HR departments are playing a strategic role in navigating these changes across sectors. Whether it’s in response to expansion, consolidation, or specialisation, HR is at the forefront of managing these transitions. Consequently, there is a growing investment in the HR sector, with emphasis on developing specialised skills in areas like payroll, employee relations, and talent management.

The insurance sector is experiencing significant growth in the fields of actuarial science and business development. This expansion is driven by the increasing demand for sophisticated risk assessment and financial modelling skills in actuarial roles, coupled with a strategic focus on expanding market reach and innovative product offerings in business development. These trends reflect Malta’s evolving insurance landscape, positioning it as a key player in the European insurance market.

Overall, as Malta heads into 2024, its finance and legal markets are characterised by a blend of traditional strengths and innovative adaptations, positioning themselves strategically amidst regional economic fluctuations and global market trends.


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.