Move to in-house ESG causes salary boost
The rise of environmental, social and governance investing means firms are paying top dollar to hire in this area with salaries reaching $300,000.
According to Kaizen Recruitment, there was a trend for firms, especially superannuation funds, to set up their own in-house ESG teams rather than outsource them which was driving the increased demand for roles.
Including superannuation, a head of ESG was being paid as much as $300,000 a year while an ESG investment manager could earn $230,000.
Lower down, a senior ESG investment analyst could earn $170,000 and an ESG investment analyst could earn $120,000.
The recruiter recommended people could work in investment and then pivot towards an ESG specialisation as well as undertaking courses on ESG topics as this would give them both corporate and ESG experience.
The firm said: “The rise of awareness across society for ESG issues is having a broad impact and is permeating through to the corporate world. This trend has been accelerating and has forced businesses to consider the impact of their investment decisions.
“ESG roles can vary greatly in scope and depth depending on a number of factors. In some businesses, this has taken on the form of teams solely dedicated to ESG research while others have taken a broader stance that ESG issues should be a consideration for all employees.”
AUTHOR
Laura Dew
Recommended for you
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
New Zealand’s financial regulator is following the footsteps of its Tasman neighbours and proposing to conduct a review on improving the accessibility of financial advice and advice business models.
