Period
to 17 January 2019

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 17 January 2019 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
17 Jan 2019
Same period 2018 Same period 2017
Rank 177 159 165
Rank change year-on-year -18 +6 +13
Contract jobs citing MiFID 6 27 8
As % of all contract IT jobs advertised in Scotland 0.13% 0.57% 0.21%
As % of the Quality Assurance & Compliance category 1.02% 3.73% 1.77%
Number of daily rates quoted 6 20 5
Scotland median daily rate £463 £475 £388
Median daily rate % change year-on-year -2.63% +22.58% -35.42%
10th Percentile £434 £297 £335
90th Percentile £538 £576 £511
UK median daily rate £575 £575 £600
% change year-on-year - -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 590 724 451
As % of all contract IT jobs advertised in Scotland 12.43% 15.22% 11.90%
Number of daily rates quoted 318 429 248
Scotland median daily rate £388 £375 £375
Median daily rate % change year-on-year +3.47% - +10.29%
10th Percentile £200 £190 £150
90th Percentile £558 £563 £488
UK median daily rate £450 £438 £425
% change year-on-year +2.86% +2.94% +4.94%
Number of hourly rates quoted 19 26 22
Scotland median hourly rate £23.00 £24.00 £25.00
Median hourly rate % change year-on-year -4.17% -4.00% -22.90%
10th Percentile £11.71 £13.00 £16.43
90th Percentile £34.40 £45.50 £40.50
UK median hourly rate £20.25 £21.00 £23.34
% change year-on-year -3.60% -10.03% -6.64%

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 17 January 2019. 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 -11 5 £475 -
Dundee - 1 £450 -
MiFID
UK

For the 6 months to 17 January 2019, 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 4 (66.67%) Finance
1 4 (66.67%) Stakeholder Management
2 3 (50.00%) Asset Management
2 3 (50.00%) Solvency II
2 3 (50.00%) Front Office
2 3 (50.00%) GDPR
3 2 (33.33%) Target Operating Model
3 2 (33.33%) FATCA
3 2 (33.33%) Migration
3 2 (33.33%) Derivative
3 2 (33.33%) Fixed Income
3 2 (33.33%) Equities
4 1 (16.67%) Agile Software Development
4 1 (16.67%) Banking
4 1 (16.67%) Retail
4 1 (16.67%) User Acceptance Testing
4 1 (16.67%) Process Improvement
4 1 (16.67%) Test Strategy
4 1 (16.67%) E-Commerce
4 1 (16.67%) Project Management
4 1 (16.67%) Back Office
4 1 (16.67%) Analytical Skills

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
3 1 (16.67%) Back Office
3 1 (16.67%) Banking
3 1 (16.67%) Retail
Job Titles
1 4 (66.67%) Analyst
1 4 (66.67%) Business Analyst
2 3 (50.00%) Asset Management Analyst
2 3 (50.00%) Asset Management Business Analyst
3 2 (33.33%) Investment Management Business Analyst
3 2 (33.33%) Regulatory Business Analyst
4 1 (16.67%) Implementation Manager
4 1 (16.67%) Project Manager
Miscellaneous
1 2 (33.33%) Derivative
1 2 (33.33%) Equities
1 2 (33.33%) Fixed Income
2 1 (16.67%) Analytical Skills
Processes & Methodologies
1 4 (66.67%) Stakeholder Management
2 3 (50.00%) Asset Management
3 2 (33.33%) Migration
3 2 (33.33%) Target Operating Model
4 1 (16.67%) Agile Software Development
4 1 (16.67%) E-Commerce
4 1 (16.67%) Process Improvement
4 1 (16.67%) Project Management
4 1 (16.67%) Test Strategy
4 1 (16.67%) User Acceptance Testing
Quality Assurance & Compliance
1 3 (50.00%) GDPR
1 3 (50.00%) Solvency II
2 2 (33.33%) FATCA