Overview: Malta Job Market round-up 2020
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The job markets have been hit hard by the pandemic, so whether you’ve been plunged into unemployment or are using this time to reevaluate your career path, it’s time to forge a plan for your future career. To find a job that is not only available and in demand, but also more likely to go the distance as we continue to adapt to a new normal.
To help you do that, we’ll be sharing a series of blogs on the state of the job market across the core regions we cover; Malta, Isle of Man and the Channel Islands. Let’s see what Malta has in store for us since COVID-19.
This blog is based on data from Boston Link Job Market Insights and across industry. Read the Report Below.
1. What can job seekers expect from their salaries in malta?
The salary range for people working in management in Malta typically adds up to 1,290 EUR to 3,730 EUR (the highest average) and up each year (according to Paylab). On the whole, we haven’t seen an incremental change, but there is a slight shift in salaries across the executive level because of changes in the job market.
At this level, we are seeing higher salaries for certain positions, particularly in finance, compliance, and gaming too. The market is highly skilled and competitive right now, meaning companies can have their pick of great, quality talent for less.
For those who are looking to relocate to Malta, job seekers can still expect generous salaries across the board, with the island’s finance and iGaming sector being particularly strong. Job seekers should be confident of their prospects at this time.
To see the complete run-down on entry, junior, mid-level, senior and c-suite salaries across some of the key industries in Malta, visit: download Salary Surveys here
2. What are the biggest sectors?
iGaming represents 15% of Malta's GDP. It's a major part of the economy and many of the biggest brands in the industry call Malta home - Pokerstars, Betsson, Tipico, Evolution Gaming and Netent, to name a few. iGaming has been a key player in Malta experiencing significant economic growth.
Malta is also a key location for financial services, from the more traditional Trust and Fiduciary work to disruptors in Fintech and Cryptocurrency. While financial services in the country are not as big as in Frankfurt or London, it's still a major hub, and continues to grow in Malta.
Malta’s Aviation industry also contributes 2.5% to Malta’s GDP, with its aviation registry boasting over 490* aircrafts – including those from large international airlines such as a major hub for Ryanair and Vistajet – the first and only globally private aviation company.
3. Which sectors have shown the most changeability over the last 12 months?
The tech market is proving to be the most stable amid the pandemic – and is even growing. Boston Link are receiving new tech roles every week with hiring numbers back to pre-Covid levels.
Salary-wise, there’s not much change in the tech sector. For example, a full stack developers expected salary is €40,000-€55,000 where this range showed very similar levels this time last year.
Drivers supporting this growth of the tech job market in Malta include the quick adaption to technological advancement across remote working. Technology advancements are centre to our core industries. Fintech, cyber security and icloud based integrations have led to an increase in finding the right talent with the right skillset, and this will set to continue.
4. How many active job seekers are there in Malta?
While the unemployment rate did rise in the first quarter of 2020, it didn’t appear to hugely affect the industries we work across. We suspect this predominantly reflects the hospitality and tourism industry.
The trend in Malta shows and has been for the past number of years, that the market is fast-moving. There is an air of confidence moving forward and any impact is minimal across iGaming and the financial services industry. Anyone who is unemployed is quickly employed.
5. What does the job-seeking process look like?
Interviews are still predominantly video call based, with one face to face stage further down the line if possible.
6. How do we reimagine location-based working?
Due to the coronavirus pandemic, a lot of offices have been closed since March. However, while some industries (e.g. financial services) are taking a more traditional approach and trying to return to the office soon, others – particularly those in the iGaming and tech sphere – have closed their offices and are staying remote-only until at least March 2021.
We’re also seeing a big spike across where jobs are located – especially in technology-based companies. Boston Link has noticed three categories of remote working:
- Complete nomad, work anywhere, anytime
- Flexible office working, so if a company has five offices across regional or global offices offices Europe, you can be based any of these
- You can work anywhere but within the same time zone
7. How does Malta’s job market compare to the rest of the world?
The job market in Malta is still very strong, which is something we’re also seeing in other jurisdictions such as the Channel Islands and the Isle of Man. However, the job market in mainland UK is strained. Interestingly, the US iGaming market is growing exponentially.
We’re seeing companies establishing themselves or set up offices in Kiev to build development teams because employing these same skillsets in Malta would cost considerably more.
It’s positive to see companies have refined their virtual interviewing and onboarding processes, and there seems to be a growing sentiment to looking for talent ahead for brighter times in 2021.
8. What do we do in cases of benchmarking salary?
COVID-19 has brought about a lot of discussion around salaries – for example, where companies might benchmark. Do they do it at a company level, a country level, or a jurisdiction level?
Companies are still working this out – competitively, legally and how it aligns to working from home in Malta or otherwise. As it stands, it’s very changeable by country and company, but because of COVID-19, it’s still up for discussion – for now.
Bouncing back to stability
As with the rest of the world, Malta is recovering from the impact of COVID-19 across its economy, which has in turn had an influence on its employment levels and job market.
However, Malta benefits from a burgeoning tech industry which has seen little effect from the pandemic, and offers the islands some stability in its return to normal.
Jobseekers can expect to still be video calling during interviews – at least in the initial stages – into the new year, and the majority of roles will continue to offer flexible working options.
On the whole, the job market is looking very promising in the final months of 2020, and looks like one that has recovered much more quickly than others across the world. Fingers crossed we’ll expect these patterns to continue into 2021.
Do you want to work in Malta?
Beyond the metrics and statistics, the best way to get a measure of just how many jobs there are in Malta, is through job sites that include Malta, and specialist recruiters that cover the region. Here’s some top-level figures on the current job listings in Malta (as of September 2020):
- LinkedIn: 1,175 jobs advertised in Malta
- Monster: 168 jobs advertised in Malta
- Reed: 31 jobs advertised in Malta
- Igamingbusiness.com: 7 jobs advertised in Malta
As specialist recruiters in Malta, BOSTON LINK have established relationships with top brands and leading employers in Malta. At the time of writing, we have 87 advertised job opportunities in Malta, with more in the pipeline, including:
- Managing Director - Global offices with a competitive salary
- Senior IT Infrastructure Engineer - €55,000 managing IT project and implementation systems
- Product Manager - €55,000 in fast-growing company
- Aviation Safety & Security Manager- Attractive salary, overseeing the day to day safety programmes
Just check out our full list of vacancies where you can filter by location, specialism or salary, or get in touch if you need help preparing for the Malta Job Market.
Stay tuned for the next blog in our 2020 Job Market series by following us on Twitter. Next up, we’ll be sharing insight into the job market for Isle of Man.