Increase FSA salaries by 50%, say headhunters

clock

The Financial Services Authority (FSA) should increase salaries by 50% at its successor agencies in order to prevent employees moving in to the private sector, according to one headhunting consultancy.

The firm said there was a particular need for higher salaries among staff paid between £100,000 and £250,000 as they have the experience to lead teams and stand up to the banks and carry out tougher, more interventionist regulation. It added the regulator would need to increase its budget by around 35% to ensure the recruitment of quality staff, the Financial Times reports. Nick Hedley, founding partner at Hedley May, said: "The good £250,000 person can move for £500,000 and the good £100,000 person can move to the private sector for £200,000. You need to close that gap. "There are...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

Regulator's Kate Tuckley gives update

Isabel Baxter
clock 08 September 2026 • 3 min read
DB transfer adviser hit with provisional FCA ban and £742,700 fine

DB transfer adviser hit with provisional FCA ban and £742,700 fine

Daniel Thomas advised 53 clients, including four British Steel scheme members

Sophia Panayi
clock 03 September 2026 • 2 min read
Proving good customer outcomes still a challenge for financial planners

Proving good customer outcomes still a challenge for financial planners

Firms face practical challenges in Consumer Duty board reporting

Sophia Panayi
clock 03 September 2026 • 2 min read