Following their global counterparts, Australian investment banks are beginning to implement software development life-cycle (SDLC) systems. So, if you happen to be a business analyst with treasury market experience and SDLC knowledge, then you're likely to be in very high demand.
"More job opportunities have definitely arisen due to more software solutions creeping over to Australia," says Steve Hutchinson, principal consultant at headhunting firm Price Barnett.
When looking for candidates in this area, Hutchinson says that applicants should have broad-based business analysis experience mixed with: a working knowledge of the Treasury market (such as the fixed interest sector), an understanding of trading room/back office processes, and detailed experience in SDLC operations (when referring to SDLC, the most notable packages include Wall Street and Murex).
Given that implementing these software systems are a so-called new trend in Australia, candidates with SDLC experience tend to come from overseas. With the roles he's currently recruiting for, Hutchinson says he's received lots of offshore responses, especially from business analysts with European or American skill sets.
Good times and better pay
What is enticing them over here? It seems to all boil down to a lifestyle choice. Furthermore, applicants who decide to take this lifestyle choice aren't disadvantaged on the salary front. Australian salaries are moving into line with global pay packages, once again thanks to increased system implementations.
Hutchinson says that a permanent salary for an experienced business analyst would start at around A$110,000. However, organisations are willing to pay a base salary of A$150,000 to A$160,000 if they really want to hire someone.
Given the required experience for these types of business analyst roles, Hutchinson says he hasn't been involved with recruiting for any junior positions.