financial services - greythorn · pdf filethe need for a clear and well thought out digital...

1

Australian Technology Recruitment Market Insights & Salary Guide 2016-2017

Financial Services

2

AUSTRALIAN TECHNOLOGY RECRUITMENT MARKET INSIGHTS & SALARY GUIDE 2016-2017

Contents

2www.greythorn.com.au

These survey results are recognised throughout the Australian IT industry as an accurate representation of the industry and a market leading source of quality insights and opinions.

All survey responses, comments and insights have been consolidated for this Australian IT Recruitment Market Insights and Salary Guide 2016-2017. This survey was carried out during June-July 2016 and distributed via an online questionnaire. Greythorn received 2583 responses.

Disclaimer:

The remuneration tables are supplemented with data and market information that Greythorn has access to. The results are provided as generic market information only. Greythorn does not make any warranties regarding the use, validity, accuracy or reliability of the results and information obtained. Greythorn will not be liable for any damages of any kind arising out of or relating to use of this information.

Executive Summary 3

Market Report 5

Salary Guide 9

About Greythorn 15

Contact us 15

3


Market Update

Digital movement is set to drive the banking and financial services industry in 2016/17. The need to deliver a digital experience for consumers, whether they be obtaining credit cards/debit cards, applying for a home loan/personal loan, business lending etc, is no longer optional. Organisations have realised the need for a clear and well thought out digital strategy to attract a new customer base as well as maintain existing customers. This trend is driving significant job growth, with organisations seeking to hire candidates who understand ‘the customer experience’ end-to-end and can influence a digital process.

Across the banking and financial services sector there is an emphasis on Agile. The increased need for these digital projects to be delivered in a timely manner has led to a significant increase in demand for professionals with Agile experience. With this focus comes increased hiring across technical areas such as digital business analysts and iOS/Android developers. This trend towards developing and adapting to an Agile working environment has also caused many financial services organisations to adopt a flatter organisational structure. This in turn has led to a downturn in the project management space, with less project managers being required to oversee work and an increase in the business analysis space.

Major projects in 2016/17 will centre on payments, digital, infrastructure upgrades and customer on-boarding. These will drive the job market with new roles being created and candidates skilled in these areas in high demand. With many of these industry standard and company led initiatives set to last 3-4 years job security will be highly attractive for many candidates, as will being a part of innovative

customer on-boarding, digital and industry projects. Concerns driving these projects centre around the ability to be first and to have the best customer experience and the best technology to deliver this. New standards put in place by governing bodies and regulators may also have an impact on project delivery as organisations are forced to alter project plans.

The New Payments Platform (NPP) is set to change the way that we bank altogether and will have a major impact on the financial services recruitment sector. The push for real-time payments across different financial institutions will decrease lag time and revolutionise the banking and financial services sector. Once again, an industry led initiative that all banks are trying to deliver in a strict timeframe. However, there have been and will continue to be challenges relating to the NPP. The need for payments specific experience is a key challenge with this being a very niche skill set and only a handful of companies having previous experience in this domain locally. The key skills in-demand in will be SWIFT, fundtech, real-time payments systems, Merchants, ATM/POS and Issuing, among others.

Diversity and Women in IT/Women in Leadership are always key areas of focus for the Big 4 Banks. This can be challenging for banks deliver upon as there is a skills gap at the mid-level bracket (3-4 years of experience). It is often easier to find and hire a senior candidate rather than a switched on mid-level candidate who is willing to learn and grow. We predict the emphasis on ‘young’ talent will continue as banks look to mould and shape their teams to give them different opinions and methods of completing tasks within a project delivery portfolio.Continued over...


4


Market Update

Rates and salaries are set to remain stagnant. Interest rates, inflation and market conditions are quite stable meaning rates/salaries will likely remain at similar levels in 2016/17.

Now more than ever, the ability to make quick decisions is key to securing the best talent available in the market. It is a very buoyant market with employers having numerous vacancies and many candidates looking for their next role. Employers who make quick decisions and streamline processes will be the ones who will win in the current market. In situations where the perfect candidate is not available we advise employers to hire on potential and attitude as sometimes the push to find a 100% right fit can impact project delivery due to time to hire when the ‘ideal’ candidate is not readily available in the market.

For job seekers, now is as good a time as any to be looking for your next role. There are a lot of great opportunities in the market, whether you’re actively or passively looking. When searching for a new role it is key to still assess what is important to you, be that career progression, environment, management, flexibility or remuneration etc. Where would you like your career path to head? Is there potential of that being achieved in your current role/organisation? Play to your strengths and don’t settle for the first thing that comes in if you believe that it is not the right opportunity for you.

Michael Pulella Account Manager


5


www.greythorn.com.au

Over the next 12 months, what do you anticipate will happen with contract rates within your specific skill set?

When was your last salary review?

Has your overall remuneration increased in the last 12 months?

Increase Remain the same Decrease

36% 59% 5%

Rates and salaries remain stable in the Financial Services market, with little change in expectations when compared to 2015. Given the highly established nature of this sector this is unsurprising.

0% 15 +%1-3% 4-5% 6-10% 11-15%

40%25%

3%

7%%12 %13

7%%13 %14 %14 %12%11

%29

NoReviewmonths

2-3month

1months4-6

months7-9

months10-12

months12+

5

6


Which of the following benefits are included in your current package?

Benefits ranked important when considering a new role (top 5)

An annual bonus scheme is the most important benefit to job seekers in this sector, unlike other sectors where flexible work options dominate. In spite of this, only just over one third of job seekers recieve this benefit. Employers seeking to attract new staff would do well to close this gap.

www.greythorn.com.au6

Flexible working

Salary sacri�ce

Paid study leave

Other

Health care

Extendedmaternity/paternity leave

Share incentiveoption scheme

Training

Mobile phone

Annual bonusscheme

Over 20 days holiday

Insurance (death in service/life insurance)

Gym membership

Additional superannuation

51%

34%

33%

32%

29%

27%

14%

13%

11%

10%

10%

9%

8%

8%

FlexibleWorking

Flexiblebene�ts

Training20+ daysholidays

Annualbonus scheme

7


Job security and engagement remain at high levels year on year when compared to other sectors in the IT market. Those with the opportunity for career development in their roles has risen slightly this year.

How satisfied/engaged are you in your current role?

How would you rate your job security?

Very Fairly Neutral

29%

Not very

41% 17% 13%

VerySecure

VeryInsecure

Secure Insecure

12% 59% 24% 5%

Is there opportunity for career development in your current role?

Yes No Unsure

%45 %34 %21


8


As the Financial Services market continues to be driven by digital movements cloud and big data dominate predictions for in-demand skills. This changing mar-ket is leading to a need for IT professionals to maintain at least an understanding of how their specialist area touches on other business units.

When did you last participate in formal training relating to your current role?

What technology/skill do you think you will need to learn next? (Top 5)

What do you believe will be the most valuable technologies/skills in ICT in the next 12-24 months? (Top 5)

5%%8

%17 %20%19

%10

%21

months4-6

months0-3

months7-9

months10-12

years1-2

years2-5

Never

1 2 3 4 5Cloud Big Data/

Analytic ToolsAWS AzureDigital

Marketing/Transformation& Analytics

1 2 3 4 5Cloud Big Data Data

AnalyticsMobilitySolutions

Security


9


9

Salary Guide 2016/17


Financial Services

10



PERMANENT $000 per annum (incl. Super)

PROJECT MANAGEMENT & BUSINESS ANALYSIS INTERMEDIATE SENIOR

BUSINESS ANALYST - I.B. 105 135

BUSINESS ANALYST - RETAIL BANKING 90 125

BUSINESS ANALYST - INSURANCE 90 125

SYSTEMS ANALYST - I.B 95 125

SYSTEMS ANALYST - RETAIL BANKING 90 120

SYSTEMS ANALYST - INSURANCE 90 120

BUSINESS ANALYST TEAM LEADER 125 150

PROGRAME MANAGER - I.B 160 200

PROGRAM MANAGER - RETAIL BANKING 150 190

PROGRAM MANAGER - INSURANCE 140 170

PROJECT MANAGER - I.B 120 160

PROJECT MANAGER - RETAIL BANKING 115 145

PROJECT MANAGER - INSURANCE 120 150

PROJECT ADMIN/ COORDINATOR 60 80

PMO MANAGER 145 180


SENIOR MANAGEMENT INTERMEDIATE SENIOR

HEAD OF TECHNOLOGY 200 250

PROJECT/PROGRAM DIRECTOR 200 225

CIO/CTO 210 275

HEAD OF ARCHITECTURE 200 220

11




BUSINESS INTELLIGENCE AND DATA WAREHOUSE INTERMEDIATE SENIOR

BIG DATA ANALYST 120 150

BUSINESS INTELLIGENCE DEVELOPER / ANALYST 120 140

BUSINESS INTELLIGENCE ARCHITECT 130 160

DATA ANALYST 90 120

DATA ARCHITECT 120 160

DATA SCIENTIST 120 150

DATA WAREHOUSING/MODELLING SPECIALIST 120 150

DATA WAREHOSUE DEVELOPER 100 130

DATA WAREHOUSE ARCHITECT 120 160

ETL ARCHITECT 120 160

ETL DEVELOPER 100 130

PREDICTIVE MODELLER/ANALYST 120 160

STATISTICAL MODELLER 120 160

CUSTOMER ANALYTICS / CAMPAIGN /INSIGHTS ANALYST 90 120

12




DEVELOPMENT INTERMEDIATE SENIOR

ALGORITHMIC DEVELOPER 130 170

QUANT DEVELOPER/ ANALYST 130 175

ENTERPRISE ARCHITECT - I.B 150 210

ENTERPRISE ARCHITECT - RETAIL BANKING 150 200

ENTERPRISE ARCHITECT - INSURANCE 150 200

SOLUTIONS ARCHITECT - I.B 150 190

SOLUTIONS ARCHITECT - RETAIL BANKING 150 190

SOLUTIONS ARCHITECT - INSURANCE 150 190

DEVELOPER - I.B - (JAVA, C#, C++) 105 135

DEVELOPER - RETAIL BANKING - (JAVA, C#, C++) 95 140

DEVELOPER - INSURNACE - (JAVA, C#, C++) 95 140

DEVELOPMENT TEAM LEADER - I.B 135 150

DEVELOPMENT TEAM LEADER - RETAIL BANKING 130 150

DEVELOPMENT TEAM LEADER - INSURANCE 130 145

DEVELOPMENT MANAGER - I.B 140 170

DEVELOPMENT MANAGER - RETAIL BANKING 130 155

DEVELOPMENT MANAGER - INSURANCE 130 155

13




APPLICATION SUPPORT & TESTING INTERMEDIATE SENIOR

APPLICATION SUPPORT - GENERAL 90 130

APPLICATION SUPPORT - I.B (CALYPSO/ MUREX) 120 160

APPLICATION SUPPORT TEAM LEADER - GENERAL 115 140

APPLICATION SUPPORT TEAM LEADER - I.B 135 160

APPLICATION SUPPORT MANAGER - GENERAL 125 150

APPLICATION SUPPORT MANAGER - I.B 150 190

TEST ANALYST 95 115

TEST MANAGER 125 155

TEST/ QA DIRECTOR 150 190

TEST TEAM LEAD 120 145


INFRASTRUCTURE INTERMEDIATE SENIOR

INFRASTRUCTURE ARCHITECT 145 180

NETWORK ARCHITECT 130 170

SECURITY CONSULTANT/ ADMIN 110 140

NETWORK ENGINEER - DATA 95 125

NETWORK ENGINEER - VOICE 95 125

DATABASE DEVELOPER 90 120

DATABASE ARCHITECT 125 150

DATABASE ADMIN 90 115

14



CONTRACT Contract ($ Rate per day incl. super)

PROJECT MANAGEMENT & BUSINESS ANALYSIS INTERMEDIATE

BUSINESS ANALYST - INVESTMENT BANKING 800

BUSINESS ANALYST - RETAIL BANKING 720

BUSINESS ANALYST - INSURANCE 720

TECHNICAL BUSINESS ANALYST - INVESTMENT BANKING 720

TECHNICAL BUSINESS ANALYST - RETAIL BANKING 680

TECHNICAL BUSINESS ANALYST - INSURANCE 720

PROGRAM MANAGER - INVESTMENT BANKING 1280

PROGRAM MANAGER - RETAIL BANKING 1040

PROGRAM MANAGER - INSURANCE 1080

PROJECT MANAGER - INVESTMENT BANKING 1000

PROJECT MANAGER - RETAIL BANKING 920

PROJECT MANAGER - INSURANCE 920

PROJECT ADMINISTRATOR/COORDINATOR 540

PMO MANAGER 840

DIGITAL/ONLINE ANALYST 720

15


Greythorn is a market leading IT and Technology recruitment agency. As true IT specialists our consultants are

subject matter experts in their verticals which is reflected in their industry knowledge and ability to determine

candidate suitability based on their skills and experience in a very short time.

Greythorn has a dedicated banking and finance technology team who focus exclusively on IT opportunities with

the finance sector. Greythorn has placed over 500 contract and permanent staff within Australia’s leading banking

and financial services firms. Our consultants understand the nuances of this industry and are able to provided an

unrivaled depth of knowledge in their specialist area. Whether you are looking for the next step in your career, or

seeking the ideal candidate, why not talk to the IT Finance experts?

More Information:

• Latest IT Jobs

• IT News via the Greythorn Blog

• Resume Writing Tips

• Interview Tips

About Greythorn


ADELAIDE

T: +61 8 8214 6500

E: [email protected]

MELBOURNE

T: +61 3 9604 4200


BRISBANE

T: +61 7 3407 3111


PERTH

T: +61 8 9471 5113


CANBERRA

T: +61 2 6213 5900


SYDNEY

T: +61 2 9249 8000


https://www.greythorn.com.au/advancedsearch.aspx?search=1&professionid=26

https://www.greythorn.com.au/blog/

http://www.greythorn.com.au/page/job-seekers/career-advice/

https://www.greythorn.com.au/page/job-seekers/career-advice/

financial services - greythorn · pdf filethe need for a clear and well thought out digital...

Documents