eFinancialCareers

Following its announcement of 370 new jobs in Glasgow and Dundee, BNP Paribas is wasting no time in recruiting the new workers.

The French banking giant is looking for accountants and team leaders for its fund accounting and pricing teams, plus investment and fund administrators.

Are Scottish financial services salaries set to rise more impressively as a result? Recruiters remain divided on the issue.

Marcel Grant, a consultant at recruitment firm Poolia, says pay is rising already and BNP's move won't make a huge difference: "There's a limited number of people who can do those jobs, but the market is already moving in that direction anyway and people are having to pay a bit extra to get those people now."

However, another recruiter, who declined to be named, says: "If they are looking for experienced hires then salaries will definitely rise more as a result – there's already a shortage of good people."

She adds: "New players often use higher salaries to attract staff, as we've just seen with one or two other west coast new arrivals."

BNP, which is bypassing recruiters, opting instead to advertise the posts itself, currently employs around 125 people in Scotland and plans to take over a floor of the Aurora building in Glasgow to accommodate its expanding workforce.

Around a quarter of the new jobs will be in Dundee, with the remainder going to Glasgow.

The expansion is being partly funded by a £3.7 million government Regional Selective Assistance grant.