With the Aussie sharemarket near enough to flatlining in 2010, job vacancies for equity sales, trading and research professionals have also been few and far between in recent months.

The ASX 200 is down almost 5 per cent for the year to date, and according to a number of recruiters, it’s been a year of minimal job growth for equities professionals.

“FX and rates have been stronger markets for hiring than institutional equity markets,” says Luke Heath, chief executive of Chandler Heath Executive Recruitment.

That’s not to say a hiring freeze is in place. John Coles, chief executive, Executive Group International, says there is selective recruitment to fill gaps or replace staff.

Another recruiter reckons the Big Four banks are also recruiting. “In addition to the banks, we are seeing other institutions with a retail presence hiring too,” says David Barr, director, financial services, Robert Walters.

Salary and bonus expectations have not changed significantly in the last few years. Indeed, Coles says equity sales professionals, traders and research analysts now operate in approximately the same base-salary band: $175k to $250k. “It might be a little less for smaller broking houses,” he adds.

It’s also worth noting that despite the relative frigidity of the equity recruitment market, there is a shortage of mining analysts. “However, it’s impossible to fill this gap with overseas analysts. They need people with local knowledge,” says Coles.

Looking ahead to 2011, Heath says the market for equity jobs will continue to revolve around critical hires. “It’s still a cautious market place and the investment banks will be careful about how they’ll spend headcount,” he adds.