Financial job outlook stabilises but remains positive
Employment opportunities within the Australian financial services sector are continuing to hold strong amid the current global economic climate, figures from the latestTMP Worldwide Job Indexreveal.
Business sentiment continues to be positive with permanent employment expectations for the financial services and insurance sector increasing by 1.4 per cent since last quarter for a total 22.9 per cent net effect. The financial services result is 1.7 per cent above expectations for all combined industries that came in at 21.2 per cent net effect.
“Client sentiment is reflected in the results. On a national basis hiring intentions are positive,” financial and professional services sector national account manager Jules Orpin says.
According to Orpin, particular attention is being paid to jobs with a customer relationship management focus, with employers actively looking for talent in this space.
He also says demand for people in wealth management remains constant and there is a focus on financial planning.
“There is demand for financial planners and advisers because it is seen as a growth opportunity in business. Particularly banking institutions who are looking for people who are qualified under the financial services reform,” Orpin says.
Looking forwards to the next three months, Orpin says positive growth in the financial services sector and the demand for highly skilled individuals with strong relationship skills will continue.
“There will always be demand for superstars in the market place,” he says.
South Australia had the strongest employment expectations for the financial services sector with 48.4 per cent net effect, which Orpin attributed to the increase in outsourced business in the state. The Australian Capital Territory followed with 36.4 per cent net effect while New South Wales was in line with the national average of 22.9 per cent net effect.
The TMP Worldwide Job Index surveyed more than 5000 employers across the country to formulate the results for this quarter, covering intentions for employers of more than three million workers.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
