Banking Sector: Market Overview and Salary Survey October 2012 Currently there are three key trends

affecting the labour market in the banking sector. The first and most global trend is the financial instability in Europe caused by the debt crisis. Western banks integrated into the global financial system are obliged to reduce costs and are not ready to allocate money for development and recruitment. It is worth mentioning that many of the experts, who had previously worked in the European offices of foreign banks, are now actively considering job offers in countries with developing economies, including Russia. The second stable trend that has lately swept the Russian banking sector is the consolidation of assets and merging of the market players. M&A deals are taking place in the banking sector and as a result, staff are being released. However, its impossible to assert that there is an overabundance of professionals in the industry and that the lack of specialists isnt felt in the market. Thus a candidate who has the required skills and experience can expect a quick placement. Strong demand for financial services in the domestic market is the third significant trend. Retail lending, microcredit, payment services, leasing and insurance are on the rise and are actively developing, creating a strong need for specialists. The most in demand specialists are the startup managers, who supervise projects in the field of financial services. The ideal candidate should have a business oriented way of thinking, understand financial management, be a good methodologist and possess charisma. This collection of very specific requirements determines the shortage of professionals in this sector, says Tatiana Bartyuk, Manager of Banking Recruitment at Antal Russia. The level of salaries in the sector has not undergone any significant changes. Experts anticipate that labour market activity in the investment banking industry may increase due to the upcoming second wave of privatisation. Moreover, there have been personnel reshuffles at the level of senior management during this year. Employers are mainly interested in professionals with the skills of financial modeling and deep knowledge of financial analysis. The most in demand are project managers, specialising in business development, mergers and restructuring of certain units, as well as M&A experts, says Daria Arhincheeva, Senior Consultant in Banking Recruitment at Antal Russia. There has not been a significant increase in the level of salaries in the investment banking industry in comparison with last year. Obviously candidates have started to take a balanced approach to the job rotation issue. One attractive offer from a potential employer is not enough to entice a specialist. When deciding on the transfer to another job, applicants are guided not only by material incentive, but they also keep in mind any advice recommending the prospective employer.

Top Demanded Professionals in Banking Head of E-Commerce Treasury Operations Manager Start-up Manager (Financial Services)

Commercial Banking (Retail & Corporate)

Job title Country Head / CEO Chief Risk Officer Risk Manager Head of Retail Head of Coverage (Corporate) Head of SME Head of Distribution Head of Marketing/Product Branch Manager Relationship/Account/Sales Manager Product Manager - Retail / Consumer Gross Monthly Basic Salary (RUR) average minimum average maximum 350 000 1 500 000 150 000 800 000 110 000 130 000 150 000 150 000 130 000 200 000 100 000 90 000 110 000 200 000 450 000 550 000 450 000 250 000 450 000 300 000 250 000 250 000

Data according to Antal Russia (part of the FiveTen Group) Salaries may vary depending on companys size, origin, sector and employees qualification and responsibilities

Asset Management / Wealth Management, Private Equity

Job title Senior Portfolio Manager Portfolio Manager Head of Portfolio Management/ Partner Portfolio/Investment Analyst Relationship Manager/ Private Banker Gross Monthly Basic Salary (RUR) average minimum average maximum 200 000 500 000 60 000 110 000 350 000 60 000 100 000 500 000 150 000 400 000

Data according to Antal Russia (part of the FiveTen Group) Salaries may vary depending on companys size, origin, sector and employees qualification and responsibilities

Investment Banking Front Office*

Job title Gross Monthly Basic Salary (RUR) average minimum average maximum 550 000 1 100 000 400 000 600 000 170 000 150 000 60 000 350 000 210 000 200 000

MD Director VP Associate Analyst

Data according to Antal Russia (part of the FiveTen Group) Salaries may vary depending on companys size, origin, sector and employees qualification and responsibilities

*Capital Markets (ECM, DCM), Corporate Finance, M&A, Trading & Sales, Research