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Hays’ specialist division, Hays Technology, has formed a strategic partnership with FinTech Scotland, the cluster management organisation which enables collaborative innovation in the financial services sector.

The move is aimed at ensuring a healthy pipeline of tech talent as new research shows that nine of the top 20 salary increases in Scotland for 2021 are related to the fintech (‘financial technology’) sector, highlighting an increased demand for such roles. With Hays’ global network, the partnership will also play a vital role in helping Scottish fintechs expand abroad.

The research, according to the Hays Salary & Recruiting Trends Guide 2022, shows that security architects saw a salary increase in 2021 of 17.3%, the highest increase within Scotland’s top twenty, whilst DevOps (IT development and operations) roles saw an above average increase of 10%.

To address the demand for niche talent in fintech, Hays Technology will support the Scottish fintech cluster in recruiting for skills in fields such as cyber security, mobile banking, cloud applications, AI and blockchain solutions.

Justin Black, director of Hays Technology in Scotland, said:

“Clearly, the high demand for tech roles that we’ve seen in recent years continues and salaries are increasingly rising as a result. This is great news for Scotland which is the largest fintech hub after London. But we need to make sure that the talent pipeline is sufficiently healthy to fulfil the demand going forward.

“Through our recruitment knowledge, best practice and global network, we’ll be able to inform FinTech Scotland’s strategy, ensuring that the demand for fintech skills is met, and maintained, with a healthy talent stream.”

Nicola Anderson, chief executive of FinTech Scotland, commented:

“Since we launched FinTech Scotland in 2018, we’ve been working closely with Skills Development Scotland, Scottish universities, businesses and government agencies to ensure that skills providers are meeting the needs of tomorrow’s financial community.

“Having access to Hays Technology’s extensive knowledge and data research on how best to attract the required skills makes them an ideal partner to help us fulfil our objectives, whether it’s for start-ups, scale-ups or established organisations.”

The research from Hays also shows that nearly two-thirds of employers in Scotland have increased salaries this year, with 71% planning to do so again over the next 12 months.

Other roles within the top 20 salary increases are in engineering, marketing and procurement which are also skills sought after by innovative fintech firms. Overall, salaries across Scotlandincreased by 2.6% in 2021.

The full list of top 20 salary increases is:

PositionRoleAverage salary% IncreaseSector
1.Security Architect£88,00017.3%Technology
2.SOC Engineer/Incident Management£58,00016%Technology
3.Penetration Tester£69,00015%Technology
4.Technologist£32,00014.3%Construction & Property
5.Senior Marketing Executive£34,00013.3%Marketing
6.Process Engineer£43,00013.2%Engineering & Manufacturing
7.BIM Manager£45,00012.5%Construction & Property
8.Security Auditor£56,00012%Technology
9.Commissioning Engineer£40,00011.1%Engineering & Manufacturing
10.Supplier Relationship Manager£60,00011.1%Procurement & Supply Chain
11.Inventory/Stock Manager£40,00011.1%Procurement & Supply Chain
12.Multi-skilled Maintenance Engineer£42,00010.5%Engineering & Manufacturing
13.DevOps Engineer£55,00010%Technology
14.Cyber Security Engineer£55,00010%Technology
16.Chief Data Officer/Head of Data£110,00010%Technology
17.Information Security Engineer£55,00010%Technology
18.Accounts Payable Clerk£22,00010%Accountancy & Finance
19.PMO Manager£55,00010%Insurance
20.Valve Technician£34,0009.7%Engineering & Manufacturing

The Hays Salary & Recruiting Trends Guide reports annually on recruitment intentions across the UK and this year is based on the analysis of over 10,000 salaries, alongside survey data of over 22,700 employers and professionals.

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