eFinancialCareers

Where do you go to earn most in Australian finance? Not Sydney, not Melbourne, but Perth. The latest Hays recruitment salary survey shows there has been a significant salary spike in Perth, reflecting the local mining boom and buoyant economy of Western Australia. According to the survey, the average salary for a senior manager in treasury operations in Perth is AU$130k, equal to Sydney and ahead of Brisbane (AU$125k) and Melbourne (AU$110k).... Read more

The mining boom in Western Australia has enabled Perth to leap above its eastern state rivals as the home of the highest base salaries for credit analysis in Australia. A survey by recruitment firm Robert Walters shows that the salary range for credit risk analysts in Perth with less than two years' experience is now AU$55k to AU$80k, leapfrogging the traditional leader Sydney (AU$55k to AU$65k) and the other eastern seaboard... Read more

IT project managers are doing rather well out of the current IT boom. Recruiters say many are being hired on short-term contracts – often around six months or less – on consultancy-style rates of around AU$1k a day. However, one consultant, who’s temporarily relocated to Sydney from the UK, is reputedly charging AU$2k a day during his six-week contract. Demand for IT project managers is being fuelled as Australia’s major trading banks... Read more

It’s bonus time for many investment banks in Australia, and that means it’s poaching time as well. As the very top performers form a queue outside the Ferrari dealerships of Melbourne and Sydney – looking for ways of spending their AU$2m-plus bonuses, banking recruiters say others who might have been disappointed with their payment are more likely to be dusting off their CVs. “Around this time of the year, you’ll see... Read more

Be prepared to make up your mind quickly – Australia’s banking and finance companies will now offer jobs as little as 48 to 72 hours after interview. Debbie Loveridge, managing director of Select Australasia, tells us the amount of time it takes banks to hire is being slashed as they compete for talent in a tight market. A year ago, she says mid-ranking admin staff in banks would wait two or... Read more

What was hot and what was not in the Australian financial services industry over the past twelve months? Here’s our considered opinion. Good Year Private Equity: This has been the year of the mega-deal in private equity, with seven AU$1bn plus transactions, topped off with the AU$11bn bid for Qantas. Big overseas funds such as KKR, CCMP, and TPG all set-up shop in Australia, while smaller Australian funds such as PEP, Archer Capital,... Read more

Australian banks are bulking up their foreign exchange operations. And UK-based staff are their chosen targets. Recruiters say Oz banks’ FX enthusiasm reflects anticipation of a possible burst in the equities bubble, plus growth in hedge funds and derivatives trading. “I think they are looking to the next (profit growth) area,” says Paul Gerrard, general manager of recruiting firm Ambition Finance’s Melbourne office. Gerrard says both investment banks and the major... Read more

Soaring Australian private equity activity is prompting Australian-based investment banks to boost their financial sponsor teams. All leading investment banks tell us they have and are continuing to build their financial sponsor teams which help private equity firms arrange and execute M&A deals. Scott Perkins, the Sydney-based head of Global Banking for Australia and New Zealand at Deutsche Bank, has a nine person team and says he is still recruiting. “We... Read more