Hays Banking - July 2008

Hotspots

Despite current international trends, the local residential lending market maintains its need for experienced mortgage sales professionals. Opportunities are highest within the large banks for candidates with a demonstrated ability across personal lending, home finance and mobile lending. While competition has not been as aggressive, business and institutional banking requires relationship managers and business development managers, in particular candidates with established referral networks. The property, healthcare and mining sectors all have a big recruitment focus.

Experienced risk analysts across top tier corporate have also been in demand and as companies focus more on quality rather than quantity and pricing for risk increases, we expect experienced credit analysts across all levels of commercial lending to be in demand.

Across investment banking and investment management there has been a steady flow of back and middle office roles, in particular corporate actions, pricing and valuations candidates as well as those with derivatives experience. The front office market requires research analysts and these candidates typically receive several employment offers.

Financial planners remain in high demand, with particular focus on consumer and business advice. As a result of this demand, a number of key financial institutions are currently offering innovative and attractive career opportunities and salary packages to maintain a competitive edge in the market and to secure quality candidates.

The superannuation industry also requires staff, in particular those with specialist experience due to legislative requirements. This need for candidates is strengthened by the allocation of new financial year budgets.

The coming quarter

While we expect demand in some areas across banking to be cautious, recruitment activity for the aforementioned hotspot areas will continue to remain very active over the quarter. In particular, some major banks are expected to recruit planners and other wealth management staff aggressively.

Salaries

The 2008 Hays Salary Survey, detailing typical salaries across Australia and New Zealand, has been released. The survey includes over 80 banking roles and is available from www.hays.com.au/salary

Candidate trends

There has been a recent increase in the availability of mortgage candidates, who are also demonstrating flexibility in terms of job responsibilities and salary.