More than 20,000 employees and 9% of Luxembourg’s GDP: investment funds are a major player in the Luxembourg economy. In its annual study, Morgan Philips looked at the major trends in this sector. First in terms of remuneration: after the significant increases in 2021 and 2022 in a “very active” job market, salaries “have stabilized over the last 18 months”, notes the report.
A slowdown which can be explained “by a consolidation of asset management players and increased caution among candidates, who are more hesitant to change positions after a period of intense post-Covid mobility”. However, all professions relating to portfolio management and compliance continue to actively recruit. “This strategic strengthening of teams is essential to meet the increased demands of regulators and maintain their competitiveness.”
Gross annual salaries (without bonuses and benefits) range between 45,000 euros (junior accountant) and more than 420,000 euros (general manager). Remuneration that can increase quickly: salaries can double in the space of a few years, between the status of junior (less than three years of experience) and that of senior (more than 6 years of experience). So, for example, a financial controller who starts at 50,000 euros gross per year can hope to reach 100,000 euros per year six years later.
Note that while parity is progressing in the sector with up to 47% of female managers, they remain under-represented in management positions (21%).
