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Aussie bankers poached for overseas

Victoria Biggs, from search firm Jon Michel, says the level of skills in Australia are highly sought after in offshore locations. She says both the education and experience levels of Australian bankers are considered impressive.

Biggs says demand is at all levels, from associate up.

A new survey by recruitment firm Robert Walters suggests the country’s finance employees are keen to work abroad: over half the Australians questioned were attracted to working in London, largely thanks to its location as a base to explore Europe.

There are financial advantages to an overseas move. Although Biggs says salaries are not always higher, bonuses can be considerably more huge. For example, in New York, senior associates can reportedly expect bonuses in the range of 200%-250%. While in Australia investment banking bonuses at the same level are likely to be in the range of 100%-150%.

Research from London highlights just why it is that Aussies are in such strong demand. Local recruitment firm Morgan McKinley found new jobs in the City of London increased by 19% between July and August 2006. Senior professional salaries increased by 7% over the same period.

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