Period
to 22 January 2022

The following table provides summary statistics for contract job vacancies advertised in the City of London with a requirement for MiFID skills. Included is a benchmarking guide to the contractor rates offered in vacancies that have cited MiFID over the 6 months to 22 January 2022 with a comparison to the same period in the previous 2 years.

Note that daily and hourly rates are treated separately in these statistics. When calculating contractor rate percentiles, daily rates are never derived from quoted hourly rates or vice versa.

Markets in Financial Instruments Directive (MiFID)
Central London > City of London
6 months to
22 Jan 2022
Same period 2021 Same period 2020
Rank 172 110 181
Rank change year-on-year -62 +71 +47
Contract jobs citing MiFID 18 15 16
As % of all contract jobs advertised in the City of London 0.45% 0.72% 0.32%
As % of the Quality Assurance & Compliance category 2.91% 6.05% 3.09%
Number of daily rates quoted 15 9 7
10th Percentile £574 £513 £373
25th Percentile £600 £538 £454
Median daily rate (50th Percentile) £650 £625 £550
Median % change year-on-year +4.00% +13.64% -10.20%
75th Percentile - £650 £631
90th Percentile £779 - £663
Central London median daily rate £650 £625 £550
% change year-on-year +4.00% +13.64% -8.33%

MiFID is in the Quality Assurance and Compliance category. The following table is for comparison with the above and provides summary statistics for all contract job vacancies advertised in the City of London with a requirement for quality assurance or compliance skills.

All Quality Assurance and Compliance Skills
City of London
Contract vacancies with a requirement for quality assurance or compliance skills 619 248 518
As % of all contract IT jobs advertised in the City of London 15.60% 11.88% 10.40%
Number of daily rates quoted 478 163 394
10th Percentile £350 £316 £300
25th Percentile £450 £409 £367
Median daily rate (50th Percentile) £550 £488 £475
Median % change year-on-year +12.82% +2.63% -2.56%
75th Percentile £625 £588 £575
90th Percentile £700 £650 £646
Central London median daily rate £550 £481 £475
% change year-on-year +14.29% +1.32% -
Number of hourly rates quoted 4 3 2
10th Percentile £19.00 £14.70 -
25th Percentile £28.00 £15.75 -
Median hourly rate £45.50 £20.00 £16.50
Median % change year-on-year +127.50% +21.21% -13.16%
75th Percentile £61.38 £22.25 -
90th Percentile £62.05 £22.40 -
Central London median hourly rate £45.50 £20.00 £16.50
% change year-on-year +127.50% +21.21% -13.16%

MiFID
Job Vacancy Trend in the City of London

Job postings citing MiFID as a proportion of all IT jobs advertised in the City of London.

Job vacancy trend for MiFID in the City of London

MiFID
Contractor Daily Rate Trend in the City of London

3-month moving average daily rate quoted in jobs citing MiFID in the City of London.

Daily rate trend for MiFID in the City of London

MiFID
Daily Rate Histogram in the City of London

Daily rate distribution for jobs citing MiFID in the City of London over the 6 months to 22 January 2022.

Daily rate histogram for MiFID in the City of London

For the 6 months to 22 January 2022, IT contractor jobs citing MiFID also mentioned the following skills in order of popularity. The figures indicate the absolute number co-occurrences and as a proportion of all contract job ads across the City of London region with a requirement for MiFID.

1 15 (83.33%) EMIR
2 11 (61.11%) SQL
3 6 (33.33%) XML
3 6 (33.33%) Banking
4 5 (27.78%) Agile Software Development
4 5 (27.78%) JIRA
4 5 (27.78%) Finance
5 4 (22.22%) Derivative
6 3 (16.67%) International Banking
6 3 (16.67%) Waterfall
6 3 (16.67%) Dodd-Frank
6 3 (16.67%) Equities
6 3 (16.67%) Data Modelling
7 2 (11.11%) Murex
7 2 (11.11%) Fidessa
7 2 (11.11%) Foreign Exchange (FX)
7 2 (11.11%) Bloomberg
7 2 (11.11%) UML
7 2 (11.11%) Validation
7 2 (11.11%) Analytical Skills
7 2 (11.11%) FIX Protocol
7 2 (11.11%) Data Validation
7 2 (11.11%) Data Mapping
7 2 (11.11%) Business Analysis
7 2 (11.11%) Murex Flex
7 2 (11.11%) User Acceptance Testing
7 2 (11.11%) Fixed Income
7 2 (11.11%) Asset Management
7 2 (11.11%) Confluence
7 2 (11.11%) Data Quality

MiFID
Co-occurring IT Skills in the City of London by Category

The follow tables expand on the table above by listing co-occurrences grouped by category. The same job type, locality and period is covered with up to 20 co-occurrences shown in each of the following categories:

Application Platforms
1 2 (11.11%) Confluence
Applications
1 1 (5.56%) Microsoft Excel
1 1 (5.56%) Microsoft PowerPoint
1 1 (5.56%) MS Visio
Business Applications
1 1 (5.56%) SunGard Martini
Development Applications
1 5 (27.78%) JIRA
2 1 (5.56%) TeamCity
General
1 6 (33.33%) Banking
2 5 (27.78%) Finance
3 3 (16.67%) International Banking
4 2 (11.11%) Analytical Skills
5 1 (5.56%) Front Office
5 1 (5.56%) Investment Banking
5 1 (5.56%) Social Skills
Job Titles
1 15 (83.33%) Analyst
1 15 (83.33%) Business Analyst
2 9 (50.00%) Report Analyst
3 6 (33.33%) Commodities Business Analyst
4 4 (22.22%) Regulatory Business Analyst
5 3 (16.67%) Data Analyst
6 2 (11.11%) Business Data Analyst
6 2 (11.11%) IT Business Analyst
6 2 (11.11%) MiFID Business Analyst
6 2 (11.11%) Regulatory Reporting Business Analyst
7 1 (5.56%) Asset Management Analyst
7 1 (5.56%) Asset Management Business Analyst
7 1 (5.56%) Business IT Analyst
7 1 (5.56%) Data Business Analyst
7 1 (5.56%) FIX Analyst
7 1 (5.56%) FIX Business Analyst
7 1 (5.56%) IT Analyst
7 1 (5.56%) Python Developer
7 1 (5.56%) Senior IT Business Analyst
7 1 (5.56%) Senior Python Developer
Libraries, Frameworks & Software Standards
1 6 (33.33%) XML
2 2 (11.11%) FIX Protocol
2 2 (11.11%) Murex Flex
3 1 (5.56%) Dask
3 1 (5.56%) REST
3 1 (5.56%) XML Messaging
Miscellaneous
1 4 (22.22%) Derivative
2 3 (16.67%) Equities
3 2 (11.11%) Fixed Income
3 2 (11.11%) Foreign Exchange (FX)
3 2 (11.11%) OTC Derivatives
4 1 (5.56%) ASIC
4 1 (5.56%) Data Structures
4 1 (5.56%) Management Information System
Operating Systems
1 1 (5.56%) Unix
1 1 (5.56%) Windows
Processes & Methodologies
1 5 (27.78%) Agile Software Development
2 3 (16.67%) Data Modelling
2 3 (16.67%) Waterfall
3 2 (11.11%) Asset Management
3 2 (11.11%) Business Analysis
3 2 (11.11%) Data Mapping
3 2 (11.11%) Data Validation
3 2 (11.11%) UML
3 2 (11.11%) User Acceptance Testing
3 2 (11.11%) User Stories
3 2 (11.11%) Validation
4 1 (5.56%) Data Lineage
4 1 (5.56%) DevOps
4 1 (5.56%) Problem-Solving
4 1 (5.56%) Product Strategy
4 1 (5.56%) Regtech
4 1 (5.56%) Requirements Gathering
4 1 (5.56%) Stakeholder Management
4 1 (5.56%) Target Operating Model
4 1 (5.56%) Visualisation
Programming Languages
1 11 (61.11%) SQL
2 1 (5.56%) Apex Code
2 1 (5.56%) C++
2 1 (5.56%) Java
2 1 (5.56%) Java 11
2 1 (5.56%) Java 8
2 1 (5.56%) Python
Quality Assurance & Compliance
1 15 (83.33%) EMIR
2 3 (16.67%) Dodd-Frank
3 2 (11.11%) Data Quality
4 1 (5.56%) AIFMD
4 1 (5.56%) QA
Vendors
1 2 (11.11%) Bloomberg
1 2 (11.11%) Fidessa
1 2 (11.11%) Murex
2 1 (5.56%) SunGard