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Breaking records in the capital markets

KPMG’s 2005-06 capital markets survey came out recently and showed that the Australian capital markets had raised $42.5 billion in funds for the year. That’s a 22% increase on the previous year, a record amount raised in Australia, and bodes well for hiring.

With this level of activity set to continue, there is strong demand for people at the associate director level with six to eight years of experience. “Companies are particularly looking for people with skills in execution and origination, and who can step into these roles,” says Vincent Bailey from search firm Bailey Executive.

Bailey says employees at this level can expect a base salary of $180,000-$220,000 with bonuses ranging from 200%-300%.

Demand for associates with three years experience is strong as well. “There is strong demand from bulge bracket investment banks, but there is a real shortage of people coming through the ranks,” Bailey says. At this level, people can expect a base salary of approximately $150,000 with bonuses in the range of 100%-150%.

In their survey, KPMG noted that last year’s hot sectors were utilities, real estate and resources and that “the areas to watch for activity in 2006-07 include uranium, transport and media”.

According to KPMG, initial public offerings (IPOs) were the number one fundraising vehicle for 2005-06 two years in a row, bringing in $11.9 billion, or 28%, of total equity raised. IPOs were followed by placements ($11.6 billion), dividend reinvestment plans ($7.3 billion) and rights and entitlements issues ($6.0 billion).

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