Here is the main event, the most complete breakdown of salary by role and function of the iGB/Pentasia Salary Study.
Find out about the key regions of growth and new opportunities around the globe.
Overview of the Market
The igaming sector has now settled down to more modest figures after experiencing salary increases up to 30 percent in certain instances. Some employers still feel candidates are too expensive, and they have made lower than expected offers.
Although hiring has slowed in many areas, there are still opportunities for the best talent. Candidates can also wait to be offered better positions if they receive salaries below average.
It’s therefore important to plan and understand the factors that influence salaries. In today’s competitive market, it is crucial to align talent retention and acquisition with the business goals and growth. You can generate a high return on your investment by strategically investing in talents and providing a competitive salary.
Compensation of Salaries
After the 12.5% growth in salaries between 2021-2022, overall salaries are now “normal”. The industry has seen a steadying of wage growth, which is now at around 4%. The industry is committed to maintaining compensation that’s competitive while managing economic conditions.
Over 50% of employers who responded to the survey have introduced flexible working arrangements. They recognize that it’s not just about monetary rewards.
Impact of Covid on the financial system
Pandemics and subsequent lockdowns have undoubtedly contributed towards the expansion of igaming.
The industry is now focused on securing sustainable post-pandemic growth and taking charge of its numbers. The C-suite plays a crucial role in these efforts. They ensure that financial strategies are aligned with industry ambitions to achieve long-term growth.
Growth in new geographic markets
Conexus Skills and Employment Survey indicates that mergers and purchases to gain access to new markets are on the decline in favor of expanding into new geographical markets.
STEVE KINK IS A CONSULTANTS AT PENTASIA
The igaming industry has focused its attention on developing markets, such as LatAm. These are areas with significant expansion potential. As companies look to successfully navigate new markets, access to market-specific talent is becoming increasingly important.
The IT industry is at the forefront of development
60% of respondents to our survey identified IT as having the greatest demand for skilled workers, underlining the importance of technology.
We still have a shortage of tech-skilled workers, even after layoffs earlier this year. This means that it is more important than ever to be creative in acquiring and retaining talent. Flexibility in working hours, compensation that is competitive and outsourcing tech solutions all play a part.
In response to changes in market and regulatory conditions, the igaming sector is going through a number of transformations and adjustments. You can navigate through these changes with flexibility, innovation, and by aligning your talent retention and strategic goals.
Salary by role and function
The C-suite and Managing Directors
Senior developers and analysts
Legal compliance
Customer services
Finance and Operations
Marketers
Projects and products
To see the complete breakdown of salaries by role and function, please download the iGB-Pentasia Salary Survey.
The C-suite and Managing Directors
Andrew Cook
We noted last year in our Salary Survey that a mature igaming industry requires exceptional leadership to create value and drive growth.
Leaders are essential in helping companies navigate these challenges, as market conditions force them to recalibrate their business models after the impact of Covid. In parallel, developing markets like LatAm require a lot of expertise and knowledge to be able to take advantage.
We see that experience is rewarded accordingly in all fields and the compensation packages reflect the value of seasoned professionals.
Senior developers and analysts
CHRIS GYERE
We continue to see wage increases for key positions in igaming, due to the high demand. They are difficult to engage and identify because they tend to be passive. If you do not pay the market rate, someone else will. In general, remote or hybrid work will be required.
Legal compliance
In the past 12 months, there have only been modest increases in salaries for legal and compliance professionals. Hiring demand has decreased for these positions, partially due to delays in the white paper consultations relating to UKGC as well as the overspending on this area due to pandemic.
Kerry Gillitt
In the UK, most hiring occurs to replace existing employees and not create new positions. It is speculated that more leaders are needed to lead specialist compliance teams, but this will not be recorded until the regulations come into effect.
Customer services
Salary increases are largely aligned with inflation. Some roles are now being filled by AI, but human skills, especially languages, remain in high demand.
David Kelly
In order to compete in the growing LatAm market, European and North American operators prefer native LatAm speakers rather than native Spanish or Portuguese.
There are few candidates with experience in igaming who are available to lead the customer service team.
Finance and Operations
The junior levels of finance and operations have experienced some movement, but the qualified level and higher has stagnated due to a recalibration in spending. The sector is very cautious and many people do not want to switch jobs, which has led to some stagnation. As companies realize the importance of reviewing risk and impacting growth, specialist finance roles such as chief financial planner and analyst are increasing.
Companies that want to enter new markets and get ahead invest in their finance team, either by hiring more people or implementing better financial reporting software. This year, we have invested a lot in the area of financial reporting.
Kerry Gillitt
Marketers
The demand for marketing roles has generally decreased, but there are exceptions. Affiliate managers remain a notable example. The majority of hires are replacements, or to build a team for new markets or ventures.
Due to the surplus of applicants, junior-level salaries are relatively stable. However, senior marketers will need higher pay in order to leave their jobs. AI’s impact on marketing is not yet clear, but new jobs have already been created, such as ChatGPT Editor.
Gareth Mulley
Projects and products
There are more job candidates than in the past, but this does not translate into lower salaries.
Darren Kirby
Salary rates have increased modestly, and companies that want to hire people with industry experience should pay market-rate salaries.
There is also a greater demand for roles at the senior level, where talent competition can be fierce. For the top talent to be hired at this level, you need a mix of competitive salaries, flexible working arrangements, and quick recruitment cycles.
