Financial sector salaries set to increase in 2017

Salaries in the banking and financial sector are expected to rise in 2017, thanks to advances in technology and pressure from regulators, according to the latest Robert Walters Salary Survey.

In a statement yesterday, the recruitment consultancy said the majority of organisations within the banking and financial sector are planning to increase headcount over the next 12 months.

Those working in the sector can generally expect a moderate increase in salary, the statement said, unless they offer specialist skills and performance delivery above the norm.

Hiring managers will be seeking “revenue generators” for roles with small businesses, mortgage brokers and financial planners, the statement said.

Robert Walters managing director, ANZ, James Nicholson said, “Overall, the recruitment market across Australia was more buoyant than expected in 2016, particularly in the areas of technology, corporate governance and infrastructure, which should continue throughout 2017.

“Technology advances to enable fast track productivity gains, regulatory pressures within the financial services sector, together with the $50 billion worth of investment committed by Australia’s national and state governments, are the main drivers for salary growth.”

The statement added that NSW is expected to have the “lion’s share” of wage winners in 2017, with half of the top 10 salaries coming from the IT, financial and business sectors.

 

promoted stories

SUBSCRIBE TO THE IFA DAILY BULLETIN