Banking and financial services hiring to remain flat in Q4
Hiring levels will remain stable across the Australian banking and financial services sector in quarter four, according to the latest quarterly Banking & Financial Services Job Market Update released today by recruitment consultancy Robert Walters.
According to the update, uncertain economic conditions and continued hiring freezes will result in a relatively flat banking and financial services job market throughout most of Australia, however Adelaide and Melbourne may see increased hiring in some areas early in the quarter as the new financial year for major banks brings new recruitment budgets.
Robert Walters’ Director of Financial Services Recruitment in Sydney, Andrew Hanson, says that while hiring will remain flat across most of the market, the financial planning, superannuation and insurance sectors will be more resilient and continue to hire strongly.
“The financial planning industry should once again buck the trend of the wider market and experience strong levels of hiring, largely due to attrition and some qualified planners dropping out of the industry as a result of the proposed legislative changes. In particular, the Brisbane, Melbourne and Perth markets will face acute shortages of financial planners, which will drive up salaries for these professionals.
“We’re also expecting some markets to face shortages of quality business development managers and banking relationship managers. In addition, the Sydney market will continue to experience high demand for quality product controllers, on both the contract and permanent side.”
The Job Market Update also reports that while salary levels will largely remain stable across the board, the professionals with the most in-demand skill sets will be able to command higher salaries due to the level of competition for these candidates.
The new Banking & Financial Services Job Market Update can be downloaded now.
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