2015/16 australian salary outlook · market rates are becoming much less uniform. while we have...

1 2015/16 AUSTRALIA SALARY & EMPLOYMENT OUTLOOK

OUTLOOKS A L A R Y & E M P L O Y M E N T

2015/16 AUSTRALIAN

FINANCIAL SERVICES

Financial Services

Hiring activity is strongest in New South Wales, due to a broader spectrum of employers across institutional banking, retail and consumer banking, insurance and wealth management. There has been a focus in investment banks on KYC (know your customer) to prevent money fraud and illegal activities, so risk and compliance roles are in high demand.

As well as risk and compliance, hiring is strong within financial planning and wealth management, so the job types currently in highest demand are;

• Risk and compliance managers • Financial planners • Paraplanners

Australia has one of the most advanced retirement planning methods in the world, so there is a high demand for financial planners and paraplanners to plan and maximise that wealth within superannuation and other retirement plans, including property.

We are seeing fewer overseas returnees in financial services due to overseas markets performing well in the last 18 months, especially within the UK and Northern Europe, Hong Kong, Mainland China and North America. The executive job market has remained steady, but is stronger in NSW, and should stay constant over the next 12 months, primarily due to a higher proportion of head offices within a broad range of financial institutions based in New South Wales.

Looking forward, we are likely to see an increase in mergers and acquisitions across all industries in Asia Pacific and Australia, which will likely affect some Australian banks’ headcount through either growth or consolidation. However, last year’s free trade deals signed with north Asia might mean greater trade and revenue across all industries, which will have a positive impact on most financial service verticals leading to higher staffing requirements.

We also expect the emphasis on hiring women into financial services to increase over the next 12 months. In the last 18 months we have seen a dramatic rise in businesses placing a bigger focus on gender diversity and 2015 has seen that importance elevated to business critical. This is particularly evident in financial services, which is historically male dominated, especially within the revenue generation and technology verticals, as well as executive leadership.

“ WE HAVE SEEN A DRAMATIC RISE IN BUSINESSES PLACING A BIGGER FOCUS ON GENDER DIVERSITY. “


FINANCIAL SERVICES OVERVIEW

KEY INSIGHTS

“ The current level of confidence in the sector is average, but seems to be getting better. People with experience in operational risk, credit risk, regulatory management and internal audits are in high demand and within regulatory management people who have direct involvement with ASX, ARPA and ASIC are in demand. Headcount in financial services has decreased over the past 10 years due to offshoring, but over the last 12 months it has remained constant. ”

Current national economy rating

Fair

Good Poor16% 20%

64%

FairVery good Poor14%

Good34%

9% 43%

Overall confidence in financial services

Mid levelManagement

SpecialistsSenior Management

Entry level27%2% 9%

55%7%

Levels of experience in highest demand

YES

35%

UNSURE

16%

NO

49%

Do survey respondents expect to grow their teams

this year?

FINANCIAL SERVICES


KEY INSIGHTS

“ Remuneration trends are positive this year, we expect most people to receive a pay increase and a high bonus or commission. ”

41%

0%

51%

8%

1% - 2%

3% - 5%

6% - 9%

0%

10% - 15%

0%16% - 20%

0%21% - 30%

More than 30%

Average salary increase percentage

Financial incentives

Strong company culture

Recognition and rewards

Training and mentoring partnerships

Work/life balance initiatives

33%

72%

42%

3%

60%

Global career opportunities

Other

12%

14%

Broaden experience / opportunity to learn

Top talent attraction methods used *

* Respondents could select more than one answer.

YES

68%

NO

32%

Do survey respondents expect their direct

employees to receive a bonus?

YES

84%

NO

16%

Do survey respondents expect their direct

employees to receive a salary increase?

FINANCIAL SERVICES


FINANCIAL SERVICES

SALARY TABLES

BANKING & FINANCIAL SERVICESFINANCIAL MANAGEMENT ACCOUNTING

FUND ACCOUNTING

State NSW VIC QLD

Company size Sml/Med Large Sml/Med Large Sml/Med Large

Salary $’000 $’000 $’000 $’000 $’000 $’000

Graduate 50–60 55–65 50–60 55–65 45–55 50–60

Assistant Accountant 55–65 60–70 55–65 60–70 50–60 55–65

Part Qualified CA/CPA 70–80 70–80 70–80 70–80 65–75 65–75

Newly Qualified CA/CPA 85–105 90–110 85–105 90–110 80–95 85–100

CA/CPA 110–130 110–130 110–130 110–130 100–120 100–120

Financial Controller 150–200 170–230 150–195 165–225 135–180 155–210

CFO/Head of Finance/Finance Director 200–300 350+ 195–295 340+ 180–270 315+

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Fund Accountant 75–95 80–100 75–95 80–100 70–90 75–90

Manager 100–125 120–150 100–125 120–150 90–115 110–135

Senior Manager 125–160 150–180 125–160 150–175 115–145 135–165

State WA SA

Company size Sml/Med Large Sml/Med Large

Salary $’000 $’000 $’000 $’000

Fund Accountant 70–90 75–95 70–90 75–90

Manager 95–115 115–140 90–115 110–135

Senior Manager 115–150 140–170 115–145 135–165

State WA SA


Salary $’000 $’000 $’000 $’000

Graduate 50–60 55–60 45–55 50–60

Assistant Accountant 55–60 60–65 50–60 55–65

Part Qualified CA/CPA 65–75 65–75 65–75 65–75

Newly Qualified CA/CPA 80–100 85–105 80–95 85–100

CA/CPA 105–120 105–120 100–120 100–120

Financial Controller 140–185 160–215 135–180 155–210

CFO/Head of Finance/Finance Director 185–280 325+ 180–270 315+

Please note:

1. Salaries indicated are in Australian dollars and based on annual basic salary, including superannuation at 9.5%, excluding bonus/incentive schemes. 2. Small to medium companies are defined as having a turnover of less than $50 million. Large companies are defined as having a turnover of more than $50 million. 3. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information.

FINANCIAL SERVICES


FINANCIAL SERVICES

SALARY TABLES

BANKING & FINANCIAL SERVICESPRODUCT CONTROL

INTERNAL AUDITState NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Auditor 80–100 100–130 80–100 100–130 75–90 90–120

Senior Auditor 90–110 100–140 90–110 100–140 85–100 90–130

Manager 110–150 140–170 110–150 140–165 100–135 130–155

Senior Manager 150–180 180–220 150–175 175–215 135–165 165–200

Head of Audit 180–250 300+ 175–245 295+ 165–225 270+

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Product Controller 90–120 90–140 90–120 90–140 85–110 85–130

Senior Product Controller 110–140 120–150 110–140 120–150 100–130 110–135

Manager 130–160 150–180 130–160 150–175 120–145 135–165

Head of Product Control 150–180 210+ 150–175 205+ 135–165 190+

State WA SA


Salary $’000 $’000 $’000 $’000

Auditor 75–95 95–120 75–90 90–120

Senior Auditor 85–105 95–130 85–100 90–130

Manager 105–140 130–160 100–135 130–155

Senior Manager 140–170 170–205 135–165 165–200

Head of Audit 170–230 280+ 165–225 270+

State WA SA


Salary $’000 $’000 $’000 $’000

Product Controller 85–115 85–130 85–110 85–130

Senior Product Controller 105–130 115–140 100–130 110–135

Manager 120–150 140–170 120–145 135–165

Head of Product Control 140–170 195+ 135–165 190+

Please note:


FINANCIAL SERVICES


FINANCIAL SERVICES

SALARY TABLES

BANKING & FINANCIAL SERVICESTAX

FUNDS ADMINISTRATIONState NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Fund Administrator 50–55 50–65 50–55 50–65 45–50 45–60

Unit Pricing/Analyst 55–65 55–70 55–65 55–70 50–60 50–65

Account Manager/Team Leader 75–90 80–90 75–90 80–90 70–85 75–85

Senior Account Manager/Manager 85–100 90–110 85–100 90–110 80–90 85–100

Client Service Manager 100–120 100–140 100–120 100–140 90–110 90–130

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Tax Accountant 80–100 90–120 80–100 90–120 75–90 85–110

Senior Tax Accountant 90–110 110–140 90–110 110–140 85–100 100–130

Tax Manager 110–150 140–180 110–150 140–175 100–135 130–165

Head of Tax 180–220 300+ 175–215 295+ 165–200 270+

State WA SA


Salary $’000 $’000 $’000 $’000

Fund Administrator 50–55 50–60 45–50 45–60

Unit Pricing/Analyst 55–60 55–65 50–60 50–65

Account Manager/Team Leader 70–85 75–85 70–85 75–85

Senior Account Manager/Manager 80–95 85–105 80–90 85–100

Client Service Manager 95–115 95–130 90–110 90–130

State WA SA


Salary $’000 $’000 $’000 $’000

Tax Accountant 75–95 85–115 75–90 85–110

Senior Tax Accountant 85–105 105–130 85–100 100–130

Tax Manager 105–140 130–170 100–135 130–165

Head of Tax 170–205 280+ 165–200 270+

Please note:


FINANCIAL SERVICES


FINANCIAL SERVICES

SALARY TABLES

BANKING & FINANCIAL SERVICESCORPORATE ACTIONS

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Junior 50–55 55–60 50–55 55–60 45–50 50–55

Senior 55–60 60–70 55–60 60–70 50–55 55–65

Supervisor 65–75 70–80 65–75 70–80 60–70 65–75

Manager 85–100 90–110 85–100 90–110 80–90 85–100

State WA SA


Salary $’000 $’000 $’000 $’000

Junior 50–55 55–60 45–50 50–55

Senior 55–60 60–65 50–55 55–65

Supervisor 60–70 65–75 60–70 65–75

Manager 80–95 85–105 80–90 85–100

Please note:


FINANCIAL SERVICES


FINANCIAL SERVICES

SALARY TABLES

BANKING & FINANCIAL SERVICESOPERATIONS

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Entry Level (0–1 year) 50–55 50–55 50–55 50–55 45–50 45–50

Junior (1–2 years) 55–60 55–65 55–60 55–65 50–55 50–60

Senior (2–3 years) 60–65 60–70 60–65 60–70 55–60 55–65

Supervisor 70–85 75–90 70–85 75–90 65–80 70–85

Manager 80–100 90–120 80–100 90–120 75–90 85–110

Senior Manager/Head of Operations 120–150 150–200 120–150 150–195 110–135 135–180

ISDA Confirmations 80–90 90–100 80–90 90–100 75–85 85–90

Trade Support 50–60 55–70 50–60 55–70 45–55 50–65

Operational Risk 70–90 120–180 70–90 120–175 65–85 110–165

State WA SA


Salary $’000 $’000 $’000 $’000

Entry Level (0–1 year) 50–55 50–55 45–50 45–50

Junior (1–2 years) 55–60 55–60 50–55 50–60

Senior (2–3 years) 60–65 60–70 55–60 55–65

Supervisor 65–80 70–85 65–80 70–85

Manager 75–95 85–115 75–90 85–110

Senior Manager/Head of Operations 115–140 140–185 110–135 135–180

ISDA Confirmations 75–85 85–95 75–85 85–90

Trade Support 50–60 55–65 45–55 50–65

Operational Risk 65–85 115–170 65–85 110–165

Please note:


FINANCIAL SERVICES


FINANCIAL SERVICES

SALARY TABLES

BANKING & FINANCIAL SERVICESFINANCIAL PLANNING

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Wealth Advisor 60–70 65–75 60–70 65–75 55–65 60–70

Paraplanner 60–80 70–90 60–80 70–90 55–75 65–85

Paraplanning Team Leader 80–120 80–120 80–120 80–120 75–110 75–110

Paraplanning Manager 90–130 95–140 90–130 95–140 85–120 90–130

Graduate Financial Planner 45–55 50–60 45–55 50–60 45–50 45–55

Associate Financial Planner 60–70 65–75 60–70 65–75 55–65 60–70

Financial Planner 65–85 70–100 65–85 70–100 60–80 65–90

Senior Financial Planner 90–130 100–140 90–130 100–140 85–120 90–130

Practice Manager 120–150 150–180 120–150 150–175 110–135 135–165

State WA SA


Salary $’000 $’000 $’000 $’000

Wealth Advisor 60–65 60–70 55–65 60–70

Paraplanner 60–75 65–85 55–75 65–85

Paraplanning Team Leader 75–115 75–115 75–110 75–110

Paraplanning Manager 85–120 90–130 85–120 90–130

Graduate Financial Planner 45–55 50–60 45–50 45–55

Associate Financial Planner 60–65 60–70 55–65 60–70

Financial Planner 60–80 65–95 60–80 65–90

Senior Financial Planner 85–120 95–130 85–120 90–130

Practice Manager 115–140 140–170 110–135 135–165

Please note:


FINANCIAL SERVICES


FINANCIAL SERVICES

SALARY TABLES

CREDIT RISKCORPORATE/INSTITUTIONAL BANKING

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Credit Analyst 75–100 90–120 75–100 90–120 70–90 85–110

Senior Credit Analyst (3-7 years) 90–130 110–140 90–130 110–140 85–120 100–130

Associate Director Credit (8+ years) 130–160 160–200 130–160 160–195 120–145 145–180

Director 170–200 220+ 165–195 215+ 155–180 200+

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Credit Analyst 75–100 90–120 75–100 90–120 70–90 85–110

Credit Manager 100–120 120–160 100–120 120–160 90–110 110–145

State WA SA


Salary $’000 $’000 $’000 $’000

Credit Analyst 70–95 85–115 70–90 85–110

Senior Credit Analyst (3-7 years) 85–120 105–130 85–120 100–130

Associate Director Credit (8+ years) 120–150 150–185 120–145 145–180

Director 160–185 205+ 155–180 200+

State WA SA


Salary $’000 $’000 $’000 $’000

Credit Analyst 70–95 85–115 70–90 85–110

Credit Manager 95–115 115–150 90–110 110–145

BUSINESS BANKING

Please note:


FINANCIAL SERVICES


FINANCIAL SERVICES

SALARY TABLES

CORPORATE FINANCE/ADVISORYPROJECT FINANCE/ADVISORY

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Analyst/Executive (1–3 years) 80–100 90–120 80–100 90–120 75–90 85–110

Manager (3–6 years) 100–140 120–160 100–140 120–160 90–130 110–145

Associate Director (6+ years) 150–200 180–240 150–195 175–235 135–180 165–220

Director 170–250 250+ 165–245 245+ 155–225 225+

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Analyst/Executive (1–3 years) 80–100 90–120 80–100 90–120 75–90 85–110

Associate/Manager (3–8 years) 100–140 120–160 100–140 120–160 90–130 110–145

Associate Director (8+ years) 150–200 180–240 150–195 175–235 135–180 165–220

Director 170–250 250+ 165–245 245+ 155–225 225+

State WA SA


Salary $’000 $’000 $’000 $’000

Analyst/Executive (1–3 years) 75–95 85–115 75–90 85–110

Manager (3–6 years) 95–130 115–150 90–130 110–145

Associate Director (6+ years) 140–185 170–225 135–180 165–220

Director 160–230 230+ 155–225 225+

State WA SA


Salary $’000 $’000 $’000 $’000

Analyst/Executive (1–3 years) 75–95 85–115 75–90 85–110

Associate/Manager (3–8 years) 95–130 115–150 90–130 110–145

Associate Director (8+ years) 140–185 170–225 135–180 165–220

Director 160–230 230+ 155–225 225+

INVESTMENT BANKING

Please note:


FINANCIAL SERVICES


FINANCIAL SERVICES

SALARY TABLES

EQUITY RESEARCH/CAPITAL MARKETSEQUITIES RESEARCH

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Assistant Analyst 65–75 70–90 65–75 70–90 60–70 65–85

Analyst 75–100 90–110 75–100 90–110 70–90 85–100

Senior Analyst/Lead Analyst 100–120 120–150 100–120 120–150 90–110 110–135

State NSW VIC QLD


Salary $’000 $’000 $’000 $’000 $’000 $’000

Analyst 75–85 90–110 75–85 90–110 70–80 85–100

Manager 90–120 130–160 90–120 130–160 85–110 120–145

Associate Director 150–200 180–240 150–195 175–235 135–180 165–220

Director 230+ 250+ 225+ 245+ 210+ 225+

State WA SA


Salary $’000 $’000 $’000 $’000

Assistant Analyst 60–70 65–85 60–70 65–85

Analyst 70–95 85–105 70–90 85–100

Senior Analyst/Lead Analyst 95–115 115–140 90–110 110–135

State WA SA


Salary $’000 $’000 $’000 $’000

Analyst 70–80 85–105 70–80 85–100

Manager 85–115 120–150 85–110 120–145

Associate Director 140–185 170–225 135–180 165–220

Director 215+ 230+ 210+ 225+

EQUITY CAPITAL MARKETS

Please note:


FINANCIAL SERVICES


2015/16 australian salary outlook · market rates are becoming much less uniform. while we have...

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