eFinancialCareers

Product controllers are still hot and commodities product controllers are hottest of all. That doesn’t mean they’re being paid more money though.

Recruiters say product controllers with experience of newer trades – such as carbon emissions and weather derivatives – are most sought after, largely because there are fewer of them.

While some teams are happy to import transferable skills, most appear to be looking for someone who’s a precise fit with their job description. “Within energy, employers prefer to recruit directly from the likes of BP and Shell instead of other product control areas,” says Geoff Fawcett of recruitment firm Hays.

Some seem to be even more exacting in their criteria – with precious metals teams not even considering those with base metal experience.

But although demand is high, few banks are delving deep to get people on board. “Everyone’s being more conservative in the current climate,” says Ryan. “They’re going for a softer sell – by focusing on factors such as internal mobility and investment in training as part of a longer-term proposition.”

In the current environment, Fawcett says huge salary hikes are most definitely not on the cards: “Some salaries may rise by as much as 5% over the year but banks won’t inflate packages unreasonably. There may be a shortage of good product controllers but we’re not seeing massive salary hikes to move people across.”

Typical salaries

Associate (newly/recently qualified)

Basic: £54k-£58k
Bonus: £11k-£17k (20-30%)
Package: £65k-£75k

AVP (3-5 years' experience)

Basic: £60k-£70k
Bonus: £15k-£35k (25-50%)
Package: £75k-£105k

VP (6-7 years' experience)

Basic: £70k-£90k
Bonus: £21k-£45k (30-50%)
Package: £91k-£135k

Source: Hays and Robert Walters