A good time to find a new job
The prospects of finding a job in the financial services and insurance sector are looking better than they have in at least 14 years, according to the latest quarterly Morgan & Banks job index.
The prospects of finding a job in the financial services and insurance sector are looking better than they have in at least 14 years, according to the latest quarterly Morgan & Banks job index.
The survey found 49 per cent of organisations in the sector expect to increase staffing levels this quarter and only 12 per cent intend to downsize.
The net effect - of 37 per cent - is four percentage points up over the previous quarter and well above the all industry average of 26 per cent.
Morgan & Banks Australasia chairman Geoff Morgan says job market conditions in the sector are the most buoyant he has seen since his company began the quarterly reviews in April 1985.
He attributes this buoyancy to the increased pace of change and rationalisation taking place in the sector. And, he expects conditions to continue to strengthen as consumers increasingly shop around and dictate what, when and how they will buy.
The survey found that most of the optimism in the sector comes from medium (20-200 employees) and small (less 20 employees) businesses.
Another finding was that NSW employers in the sector are the most enthusiastic about the future with 54 per cent intending to increase staff and 8 per cent planning to decrease their head count.
The net effect for the state is 46 per cent — 14 percentage points higher than the previous result and 20 percentage points up on the same period last year.
Recommended for you
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.
