Period
to

The following table provides summary statistics for contract job vacancies 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 9 August 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)
UK
6 months to
9 Aug 2022
Same period 2021 Same period 2020
Rank 708 657 519
Rank change year-on-year -51 -138 +223
Contract jobs citing MiFID 139 106 42
As % of all contract jobs advertised in the UK 0.16% 0.14% 0.12%
As % of the Quality Assurance & Compliance category 1.22% 1.17% 1.05%
Number of daily rates quoted 114 78 33
10th Percentile £460 £425 £423
25th Percentile £550 £503 £500
Median daily rate (50th Percentile) £650 £600 £550
Median % change year-on-year +8.33% +9.09% -8.33%
75th Percentile £719 £689 £638
90th Percentile £793 £746 £685
UK excluding London median daily rate £525 £430 £388
% change year-on-year +22.09% +10.97% -34.04%

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 with a requirement for quality assurance or compliance skills.

All Quality Assurance and Compliance Skills
UK
Contract vacancies with a requirement for quality assurance or compliance skills 11,355 9,037 4,019
As % of all contract IT jobs advertised in the UK 12.86% 12.35% 11.41%
Number of daily rates quoted 7,776 6,052 2,518
10th Percentile £300 £270 £263
25th Percentile £413 £375 £356
Median daily rate (50th Percentile) £525 £478 £473
Median % change year-on-year +9.95% +1.06% +5.00%
75th Percentile £638 £588 £575
90th Percentile £738 £675 £646
UK excluding London median daily rate £475 £425 £428
% change year-on-year +11.76% -0.64% +0.65%
Number of hourly rates quoted 266 350 186
10th Percentile £12.58 £11.36 £11.55
25th Percentile £16.25 £14.00 £17.00
Median hourly rate £25.00 £20.37 £24.67
Median % change year-on-year +22.74% -17.42% +17.20%
75th Percentile £53.94 £40.13 £45.00
90th Percentile £71.79 £61.95 £53.75
UK excluding London median hourly rate £21.59 £19.00 £22.55
% change year-on-year +13.61% -15.72% +0.85%

MiFID
Job Vacancy Trend

Job postings citing MiFID as a proportion of all IT jobs advertised.

Job vacancy trend for MiFID in the UK

MiFID
Contractor Daily Rate Trend

3-month moving average daily rate quoted in jobs citing MiFID.

Daily rate trend for MiFID in the UK

MiFID
Daily Rate Histogram

Daily rate distribution for jobs citing MiFID over the 6 months to 9 August 2022.

Daily rate histogram for MiFID in the UK

MiFID
Contractor Hourly Rate Trend

3-month moving average hourly rates quoted in jobs citing MiFID.

Hourly rate trend for MiFID in the UK

MiFID
Top 8 Contract Locations

The table below looks at the demand and provides a guide to the median contractor rates quoted in IT jobs citing MiFID within the UK over the 6 months to 9 August 2022. 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
Jobs
England -44 122 £650 +8.33% 12
London -56 120 £650 +8.33% 11
Work from Home -18 51 £600 -2.36% 1
UK excluding London -33 7 £525 +22.09% 1
Scotland -13 4 - -
North West - 2 £528 -
North of England - 2 £528 -
Northern Ireland 0 1 £525 +22.81%

For the 6 months to 9 August 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 with a requirement for MiFID.

1 84 (60.43%) Finance
2 67 (48.20%) EMIR
3 60 (43.17%) Agile
4 41 (29.50%) Banking
5 39 (28.06%) Business Analysis
5 39 (28.06%) Front Office
6 37 (26.62%) SQL
7 34 (24.46%) Social Skills
8 30 (21.58%) Investment Management
9 29 (20.86%) Derivative
10 26 (18.71%) Data Analysis
10 26 (18.71%) Fixed Income
11 25 (17.99%) Requirements Gathering
12 21 (15.11%) Stakeholder Management
13 20 (14.39%) Charles River
13 20 (14.39%) Regulatory Change
14 19 (13.67%) Python
14 19 (13.67%) Back Office
14 19 (13.67%) Scrum
15 17 (12.23%) Problem-Solving
16 16 (11.51%) SDLC
16 16 (11.51%) Migration
16 16 (11.51%) JIRA
17 15 (10.79%) Project Management
17 15 (10.79%) Relational Database
17 15 (10.79%) SaaS
18 14 (10.07%) Microsoft Excel
19 13 (9.35%) Management Information System
19 13 (9.35%) Analytical Skills
19 13 (9.35%) OTC Derivatives

MiFID
Co-occurring IT Skills 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 8 (5.76%) Confluence
2 2 (1.44%) SAS
3 1 (0.72%) MTS
Applications
1 14 (10.07%) Microsoft Excel
2 4 (2.88%) Microsoft PowerPoint
3 2 (1.44%) MS Visio
Business Applications
1 3 (2.16%) Endur
2 2 (1.44%) Eagle PACE
2 2 (1.44%) ION MarketView
2 2 (1.44%) Kondor
2 2 (1.44%) Refinitiv Enterprise Platform
2 2 (1.44%) Summit
3 1 (0.72%) SunGard Martini
3 1 (0.72%) Temenos Globus
3 1 (0.72%) Temenos T24
3 1 (0.72%) thinkFolio
Cloud Services
1 15 (10.79%) SaaS
2 3 (2.16%) AWS
3 2 (1.44%) Amazon EC2
3 2 (1.44%) Azure
3 2 (1.44%) OpenShift
3 2 (1.44%) Power Platform
Communications & Networking
1 2 (1.44%) FIX Connectivity
Database & Business Intelligence
1 15 (10.79%) Relational Database
2 10 (7.19%) RDBMS
3 7 (5.04%) Elasticsearch
4 6 (4.32%) SQL Server
5 4 (2.88%) Apache Cassandra
5 4 (2.88%) MongoDB
5 4 (2.88%) NoSQL
6 2 (1.44%) Amazon RDS
6 2 (1.44%) DB2
6 2 (1.44%) Power BI
6 2 (1.44%) Tableau
7 1 (0.72%) Data Mining
7 1 (0.72%) KDB
7 1 (0.72%) Kdb+
7 1 (0.72%) Oracle Database
Development Applications
1 16 (11.51%) JIRA
2 8 (5.76%) Git (software)
3 4 (2.88%) Jenkins
3 4 (2.88%) Subversion
4 2 (1.44%) Ant
4 2 (1.44%) Gradle
4 2 (1.44%) Hudson
4 2 (1.44%) Maven
4 2 (1.44%) Sonatype Nexus
4 2 (1.44%) TeamCity
General
1 84 (60.43%) Finance
2 41 (29.50%) Banking
3 39 (28.06%) Front Office
4 34 (24.46%) Social Skills
5 19 (13.67%) Back Office
6 13 (9.35%) Analytical Skills
7 12 (8.63%) Investment Banking
8 11 (7.91%) Documentation Skills
9 8 (5.76%) Presentation Skills
10 5 (3.60%) Private Banking
11 3 (2.16%) French Language
11 3 (2.16%) Legal
11 3 (2.16%) Organisational Skills
12 1 (0.72%) Inclusion and Diversity
12 1 (0.72%) Influencing Skills
12 1 (0.72%) International Banking
12 1 (0.72%) Law
12 1 (0.72%) Retail
Job Titles
1 72 (51.80%) Analyst
2 67 (48.20%) Business Analyst
3 20 (14.39%) Report Analyst
4 19 (13.67%) Project Manager
4 19 (13.67%) Regulatory Business Analyst
5 16 (11.51%) Developer
6 15 (10.79%) Finance Business Analyst
6 15 (10.79%) Financial Analyst
7 13 (9.35%) Charles River Analyst
7 13 (9.35%) Charles River Business Analyst
8 12 (8.63%) MiFID Business Analyst
9 10 (7.19%) Product Specialist
10 8 (5.76%) Business IT Analyst
10 8 (5.76%) IT Analyst
10 8 (5.76%) IT Business Analyst
10 8 (5.76%) Programme Manager
11 7 (5.04%) Regulatory Change Manager
12 6 (4.32%) Business Manager
12 6 (4.32%) Security Manager
12 6 (4.32%) Security Project Manager
Libraries, Frameworks & Software Standards
1 4 (2.88%) FIX Protocol
2 3 (2.16%) XML
3 2 (1.44%) .NET
4 1 (0.72%) Kafka
Miscellaneous
1 29 (20.86%) Derivative
2 26 (18.71%) Fixed Income
3 13 (9.35%) Management Information System
3 13 (9.35%) OTC Derivatives
4 9 (6.47%) Foreign Exchange (FX)
5 7 (5.04%) Equities
6 5 (3.60%) ASIC
7 4 (2.88%) Data Protection Act
7 4 (2.88%) DTCC
7 4 (2.88%) Grid Computing
7 4 (2.88%) N-Tier
8 3 (2.16%) Hedge funds
8 3 (2.16%) Interest Rate Derivative
9 2 (1.44%) Reference Data
9 2 (1.44%) Self-Motivation
10 1 (0.72%) CMDB
10 1 (0.72%) Data Structures
10 1 (0.72%) Eurex
10 1 (0.72%) SWIFT
10 1 (0.72%) Wiki
Operating Systems
1 2 (1.44%) Unix
2 1 (0.72%) Windows
Processes & Methodologies
1 60 (43.17%) Agile
2 39 (28.06%) Business Analysis
3 30 (21.58%) Investment Management
4 26 (18.71%) Data Analysis
5 25 (17.99%) Requirements Gathering
6 21 (15.11%) Stakeholder Management
7 20 (14.39%) Regulatory Change
8 19 (13.67%) Scrum
9 17 (12.23%) Problem-Solving
10 16 (11.51%) Migration
10 16 (11.51%) SDLC
11 15 (10.79%) Project Management
12 12 (8.63%) User Acceptance Testing
13 11 (7.91%) DevOps
13 11 (7.91%) User Stories
14 10 (7.19%) Asset Management
14 10 (7.19%) Collateral Management
14 10 (7.19%) Data Modelling
14 10 (7.19%) Project Delivery
15 9 (6.47%) Wealth Management
Programming Languages
1 37 (26.62%) SQL
2 19 (13.67%) Python
3 6 (4.32%) C#
4 5 (3.60%) Java
5 4 (2.88%) Groovy
5 4 (2.88%) Perl
6 3 (2.16%) C++
7 2 (1.44%) Shell Script
8 1 (0.72%) PL/SQL
8 1 (0.72%) Scala
Qualifications
1 8 (5.76%) PMI Certification
1 8 (5.76%) PMP
2 7 (5.04%) Degree
3 1 (0.72%) Master's Degree
Quality Assurance & Compliance
1 67 (48.20%) EMIR
2 12 (8.63%) Dodd-Frank
3 7 (5.04%) QA
4 4 (2.88%) Basel III
5 3 (2.16%) AIFMD
5 3 (2.16%) FATCA
5 3 (2.16%) GDPR
5 3 (2.16%) Solvency II
6 2 (1.44%) IFRS
6 2 (1.44%) IFRS 9
6 2 (1.44%) Sarbanes-Oxley
6 2 (1.44%) UCITS
7 1 (0.72%) FINRA
7 1 (0.72%) PMO
7 1 (0.72%) SLA
System Software
1 2 (1.44%) Docker
Systems Management
1 4 (2.88%) Control-M
2 2 (1.44%) Ansible
2 2 (1.44%) Kubernetes
2 2 (1.44%) Rundeck
Vendors
1 20 (14.39%) Charles River
2 9 (6.47%) Murex
3 6 (4.32%) Oracle
4 5 (3.60%) Bloomberg
5 4 (2.88%) ION Trading
5 4 (2.88%) OpenLink
6 3 (2.16%) FIS
6 3 (2.16%) Microsoft
6 3 (2.16%) Tradeweb
7 2 (1.44%) Calypso
7 2 (1.44%) FactSet
7 2 (1.44%) MarketAxess
7 2 (1.44%) Perforce
7 2 (1.44%) SimCorp
8 1 (0.72%) SunGard
8 1 (0.72%) Temenos