Salary Survey Guide Sep ’22
Updated with the latest sectors and salaries to reflect the latest trends, market activities and salary market rates.
Salary Survey September 2022 for Finance and Legal Jobs – Malta
The finance and legal employment markets have remained stable and on a continuous growth trend since our previous salary survey in February. Finance is the sector where growth is particularly strong as the hospitality sector (crucial to the Maltese economy) bounced back significantly and supported growth in other sectors directly connected to IT, for example, corporate service providers (CSPs), real estate and property companies. As a result, we have seen a substantial rise in accounting roles outside the iGaming or Fintech sectors, however, these sectors remain the most popular due to the conditions they can offer candidates.
The Payments, AML, Compliance and Legal sectors have seen steady growth, although at a slower pace in comparison to the boom we had during the Moneyval grey-listing and the subsequent robust and proactive response by the MFSA and affected industries. The trend is certainly positive with good opportunities for these professionals in a more mature Maltese market for these skills.
Aside from the sectors where industry-specific trends are described in more detail in subsequent pages, we can see a market which is still buoyant for job opportunities. Companies are growing and people are still attracted to living and working in Malta. Companies are adapting and creating new and improved strategies to attract and secure candidates. For example, iGaming companies are presenting more flexibility in terms of industry experience. Importantly, organisations within the banking and insurance sectors are giving career opportunities to junior-level candidates with a focus on soft skills rather than hard skills.
The insurance industry is continuing to grow and offers opportunities. The cryptocurrency industry is gradually making the Maltese market a promising environment to invest in from both a business and recruitment perspective. With the removal of Covid-19 restrictions, Malta once again is becoming a great job destination for professionals in the finance and legal sector.
This new post-Covid-19 migration trend, which was traditionally a great source of skills to supply professionals in Malta, is aiding in the increasing demand for skilled talent.
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.