The study conducted by Morgan Philips Executive Search and Fyte Luxembourg uses exclusive data and Linkedin Talent Insights. It highlights the jobs in short supply, pay disparities and progress towards gender parity in the various asset management functions.

After significant salary increases in 2021 and 2022 in a very dynamic job market, salaries in the fund sector in Luxembourg have stabilised over the last 18 months, while remaining competitive with the banking sector. This stagnation is the result of consolidation among asset management players and increased caution among candidates, who are less inclined to change jobs after a period of high mobility. Faced with an uncertain economic environment and increasingly stringent regulations, many asset management companies have frozen job creations in order to optimise their existing staff, resulting in a reduction in recruitment.

The report points to salary differences between traditional and alternative investment funds. In general, positions within the domain of alternative investment funds tend to offer slightly higher salaries.

An AML/KYC analyst, for instance, can expect to earn €55,000 at the start of their career. A conducting officer can be offered more than €180,000 after six years of their career. An experienced financial accountant (with three to six years of experience) can expect to earn €65,000. Discover all the salaries in the fund industry in the infographic below.

Vacancies for management positions have become rare, in contrast to 2018 and 2022, when these profiles were in high demand. Demand for managers and authorised profiles has fallen, highlighting a slowdown in the expansion of leadership positions within asset management companies. However, opportunities remain, particularly at third-party management companies, which continue to recruit in the areas of compliance and asset management. These strategic hires, perceived as investments, strengthen the competitiveness of these agile structures in the face of growing regulatory challenges.

The professions that are recruiting most in the sector are AML/KYC analysts, money laundering reporters, portfolio managers and investment managers, human resources professionals and ESG managers.

The report on investment funds in Luxembourg reveals progress in gender parity, particularly at middle management level. However, parity remains a challenge at management level, with women accounting for just over 20% of managing director positions.

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