With strong market conditions set to continue, local and international investment banks are performing well and growing their teams.
The strongest demand is at associate and manager levels, says Oliver Darkes from recruitment firm Carmichael Fisher, and that demand is from all investment banks. The Australian Financial Review says, “Firms are hiring again as market and M&A activity picks up.”
There is no lack of talent; instead the problem lies in getting good talent to move. With strong market conditions employees are being remunerated well and are in the middle of their bonus cycle.
According to a recent salary survey from Michael Page Finance, people at this level can expect a salary of $120,000-$150,000. Bonuses of around 100% and above are being paid.
Recent league tables (both Thomson Financial and Bloomberg) show UBS, Macquarie, and Goldman Sachs continuing to perform well in the Australian market, while local boutiques Carnegie Wylie and Caliburn continue to show their strength. Cameron Partners, of New Zealand, are also moving up the league tables.