Financial Services Job Market Update – January To March 2018
We would like to thank our clients MTAA Super, IFM Investors, PIMCO, Generation Life, CCI Insurance, Equity Trustees, CPA Advice, Centuria Life, Anne Street Partners, DPM Wealth Management, Bell Asset Management, Invesco, Vanguard, First Super, Strata Community Insurance, and Victoria Funds Management Corporation for giving us the opportunity to partner with their businesses on a range of talent acquisition opportunities.
70% of the recruitment assignments we completed were within the funds management sector with the remaining split across insurance, superannuation and wealth management.
The roles we successfully completed included business development managers, marketing managers, performance analysts, investment operations, risk and compliance, client and investor services, business analyst (funds management, superannuation and insurance), superannuation advisors, financial advisors, paraplanners and underwriters.
- The average salary of all positions we delivered on was $110,000, with the highest salary at $210,000 and the lowest at $70,000.
- 40% of placements were contracting assignments primarily within projects, performance and attribution analysis, investment operations and fund administration.
- 15% of assignments were retained on an exclusive basis which enabled us to complete a comprehensive search process (market mapping), adding significant value to our clients.
- 70% of all placements came from candidates which we had previously interviewed via our database or our existing network.
- 55% of placements were male, 45% female. This was in response of our clients wanting to see equal gender representation on our shortlists (see link).
- Business development professionals again were in high demand, as were project professionals across insurance, funds management and superannuation.
- We successfully completed a national recruitment campaign for a leading industry superannuation fund recruiting superannuation advisors in Melbourne, Sydney and Brisbane (see link).
- We recruited an entire testing team for a growing fund manager, recruiting one test Manager and four test analysts. Kaizen was able to demonstrate “market knowledge” and “speed to market” recruiting all 5 contractors in under a week.
- We were successfully partnered with PIMCO to recruit risk and compliance and investment operations professionals for their Sydney office.
- We helped three candidates from Singapore, Mauritius and India obtain their first position in the Australian financial services industry. In one case, the client made an offer to candidate while he was still overseas (see link). This highlights an emerging theme of a “talent short” market for some skill sets, specially funds management business analysts.
- Performance analysts again proven to be in high demand (see link).
- A number of contractor requirements were completed within 48 hours. Most recruitment process timeframes are depended on and reflected our clients’ efficiency in their internal recruitment process.
- 30% of our contractors converted to permanent positions within three months.
- Paraplanners again proved to be the most challenging position to recruit with demand significantly exceeding quality supply (see link).
We hope you like this summary of our activity during the January to March 2018 quarter.
Regards,
Matt McGilton – Director
Kaizen Recruitment specialises financial services recruitment across funds management, wealth management, superannuation, investment consulting and insurance. We are based in Melbourne and Sydney. For assistance or further information please telephone our office at +61 3 9095 7157 or submit an online form.
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