From mergers and acquisitions to spin-offs and stock splits, corporate activities can materially impact a company’s capital structure and more hires are needed.
Typically, a corporate action is determined by a company’s board of directors and then approved by the company’s shareholders. The action doesn’t stop there though; custodial service professionals within investment banks, fund management companies and stockbroking houses then process, reconcile and monitor the event.
Current candidates: take action
Owing to the local share market’s stellar performance over the past few years and a large amount of corporate activity, corporate action officers have been in great demand. “There’s a shortage of candidates in the market,” says Libby Martin, an associate at recruitment group Olivier. Martin says that there was no particular reason why there is a lack of supply of candidates.
For all those thinking about pursuing a career in corporate actions, now could be the ideal time. In general, candidates have a degree of custodial/back office experience and also have an understanding of the activities that can take place within the share market.
On average, a corporate actions officer can earn between A$45,000 to A$55,000 while a senior officer’s average salary is around A$70,000. In addition, a lot of corporate action contract work is offered, with pay ranging between A$20-A$32 per hour plus superannuation benefits.