Period
to 21 October 2018

The following table provides summary statistics for contract job vacancies advertised in Scotland 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 21 October 2018 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)
UK > Scotland
6 months to
21 Oct 2018
Same period 2017 Same period 2016
Rank 198 152 195
Rank change year-on-year -46 +43 -3
Contract jobs citing MiFID 6 31 6
As % of all contract IT jobs advertised in Scotland 0.11% 0.64% 0.13%
As % of the Quality Assurance & Compliance category 0.85% 4.70% 0.89%
Number of daily rates quoted 5 17 5
Scotland median daily rate £475 £388 £338
Median daily rate % change year-on-year +22.58% +14.81% -43.75%
10th Percentile £421 £247 £311
90th Percentile £518 £575 £520
UK median daily rate £594 £560 £575
% change year-on-year +6.03% -2.61% -4.17%
Number of hourly rates quoted 0 0 0
Scotland median hourly rate - - -
UK median hourly rate - £25.50 -

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 Scotland with a requirement for quality assurance or compliance skills.

All Quality Assurance and Compliance Skills
Scotland
Contract vacancies with a requirement for quality assurance or compliance skills 706 660 676
As % of all contract IT jobs advertised in Scotland 13.26% 13.73% 14.32%
Number of daily rates quoted 390 356 377
Scotland median daily rate £375 £375 £350
Median daily rate % change year-on-year - +7.14% +2.64%
10th Percentile £199 £153 £162
90th Percentile £538 £531 £488
UK median daily rate £450 £438 £415
% change year-on-year +2.86% +5.42% +3.62%
Number of hourly rates quoted 24 28 20
Scotland median hourly rate £17.38 £17.13 £25.00
Median hourly rate % change year-on-year +1.46% -31.50% -22.99%
10th Percentile £11.42 £13.00 £16.03
90th Percentile £35.00 £37.25 £40.70
UK median hourly rate £21.76 £20.00 £23.17
% change year-on-year +8.80% -13.67% +7.51%

MiFID
Job Vacancy Trend in Scotland

Job postings citing MiFID as a percentage of all IT jobs advertised in Scotland.

Job vacancy trend for MiFID in Scotland

MiFID
Contractor Daily Rate Trend in Scotland

This chart provides the 3-month moving average for daily rates quoted in contract jobs citing MiFID in Scotland.

Contractor daily rate trend for MiFID in Scotland

MiFID
Contract Job Locations in Scotland

The table below looks at the demand and provides a guide to the median contractor rates quoted in IT jobs citing MiFID within the Scotland region over the 6 months to 21 October 2018. The 'Rank Change' column provides an indication of the change in demand within each location based on the same 6 month period last year.

Location Rank Change
on Same Period
Last Year
Matching
Contract
IT Job Ads
Median
Daily Rate
Past 6 Months
Median Daily Rate
% Change
on Same Period
Last Year
Live
Job
Vacancies
Edinburgh -17 6 £475 +26.67%
MiFID
UK

For the 6 months to 21 October 2018, 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 Scotland region with a requirement for MiFID.

1 5 (83.33%) Solvency II
2 4 (66.67%) Finance
3 3 (50.00%) Migration
3 3 (50.00%) Stakeholder Management
3 3 (50.00%) Fixed Income
3 3 (50.00%) Equities
3 3 (50.00%) Front Office
3 3 (50.00%) FATCA
3 3 (50.00%) Asset Management
3 3 (50.00%) Derivative
3 3 (50.00%) Target Operating Model
3 3 (50.00%) GDPR
4 2 (33.33%) User Acceptance Testing
4 2 (33.33%) Agile Software Development
5 1 (16.67%) Software Delivery

MiFID
Co-occurring IT Skills in Scotland 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:

General
1 4 (66.67%) Finance
2 3 (50.00%) Front Office
Job Titles
1 3 (50.00%) Analyst
1 3 (50.00%) Asset Management Analyst
1 3 (50.00%) Asset Management Business Analyst
1 3 (50.00%) Business Analyst
1 3 (50.00%) Investment Management Business Analyst
1 3 (50.00%) Project Manager
Miscellaneous
1 3 (50.00%) Derivative
1 3 (50.00%) Equities
1 3 (50.00%) Fixed Income
Processes & Methodologies
1 3 (50.00%) Asset Management
1 3 (50.00%) Migration
1 3 (50.00%) Stakeholder Management
1 3 (50.00%) Target Operating Model
2 2 (33.33%) Agile Software Development
2 2 (33.33%) User Acceptance Testing
3 1 (16.67%) Software Delivery
Quality Assurance & Compliance
1 5 (83.33%) Solvency II
2 3 (50.00%) FATCA
2 3 (50.00%) GDPR