☰ Menu eFinancialCareers

Super goes through the roof

Is it a bird? Is it a plane? No, it’s a superannuation hiring boom.

Allen Tingey, principal at financial services recruitment firm Porterallen Hendren in Sydney, says business developers are feeling the full force of the thrust – with salaries more than doubling in the past five years and the introduction of bonuses.

“Business development brings in the money so it is the highest-paid component. If you haven’t got market share, you can’t get the bulk – and if you haven’t got bulk, you don’t get profits,” he says. “Somebody with three to five years’ experience would be earning up to AU$150k as base salary, with anything up to 100% of that in bonuses.”

By comparison, Tingey says a superannuation administrator at the simple end would be earning mid-AU$50k, and at the complex end, mid-AU$80k.

What is the ‘complex end’? “A defined benefit scheme is more complex than an industry fund and there is a significant reward difference between administrators in those funds,” says Tingey.

Storming demand for business developers reflects the industry’s growth – superannuation contributions for the 2006-07 financial year are likely to reach AU$114bn, up a staggering 42% from last year.

Louise Langridge, managing director at recruiter Morgan McKinley in Sydney, says the product development and management area of superannuation is also lucrative. A product developer with three to five years’ experience can expect a salary between AU$120k and AU$150k – plus a 20% to 50% bonus.

Accountants and financiers traditionally went into superannuation careers, but nowadays Langridge says recruiters are more flexible, and willing even to accept people from fast-moving consumer goods backgrounds. “Those skills can translate well into product development in financial services,” she says.

Comments (0)


The comment is under moderation. It will appear shortly.


Screen Name


Consult our community guidelines here