While there may not be a shortage of suitable foreign exchange sales candidates in Australia at the moment, if you can’t tick all the boxes or you want to make a career move into FX, there are still ways in.
Lorraine Ryan from Chandler Heath Recruitment says that if a candidate is able to bring over existing client contacts, they are monetarily compensated for this.
For offshore applicants without an Australian customer base – fear not. Ryan says that if a candidate has good client relationship skills and some contacts in the global market, then they are also in demand.
Like a lot of ‘sales’ roles, it is relatively difficult to define remuneration packages as a large proportion of the salary depends on executed sales, but depending on experience, a junior FX sales candidate could look to earn between A$60,000 and A$80,000; base salary for a senior FX sales role comes in at A$100,000 plus.
Getting a foot in the door with no experience
Ryan says it is not uncommon for the larger domestic banks to give employees from back office operations (for example, FX settlements) the opportunity to work in a front office FX role. International banks, however, tend to fill their front office roles with individuals from their graduate programs.
Domestically, with no real expectation of significant economic hurdles appearing either here or offshore, and with inflation well controlled, equities remain the asset class of choice.