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Equities: Buoyant corporate growth keeps jobs afloat

The domestic reporting season comes to an end this week – a refreshing thought for all the equity analysts, portfolio managers and institutional dealers who have been frantically interpreting the various corporate results. It’s also good news on the equities hiring front.

Approximately 65% of listed companies have now reported their quarterly profits and generally speaking, the results have been surprisingly pleasing. Of note, most companies’ earnings growth either met or exceeded analysts’ forecasts and several corporations expect future earnings will continue to grow – albeit at a slower pace compared to last quarter’s forecasts.

Of course, the Australian share market has mirrored the strength of the corporate sector. The market has delivered gains of 25% over the past year while two-year returns are 28% higher (pa).

From strength to strength

Solid corporate earnings, coupled with a buoyant share market have not surprisingly led to increased career opportunities within the equities sector (both on the buy-side and the sell-side). Further, there is evidence of improving salaries. Angus Price, a partner at Derwent Executive, says, “Robust corporate profits over the past two or three years has resulted in junior level salaries (analyst or associate positions) rise by about 20%-30%.”

In terms of senior positions, Price says that despite base salaries remaining flat over the same time frame, higher bonuses have been paid to reflect the equity market’s strength.

The table below highlights current base salaries:

Buy-side in A$:

  • Institutional dealer > $120K – $150K + bonus
  • Head of dealing desk > $180K – $250K + bonus
  • Junior research analyst > $100K – $140K + bonus
  • Senior research analyst > $160K – $200K + bonus
  • Portfolio Manager > $220K – $300K + bonus

Sell-side in A$:

  • Institutional broker VP > $180K – $220K + bonus
  • Junior research analyst $100K plus + bonus
  • Middle research analyst $150k plus + bonus
  • Senior research analyst $200k plus + bonus

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