The Australian corporate finance market remains very ‘candidate poor’, partly fuelled by the resources sector boom.
So says Jon Michel, principal of Jon Michel Executive Search. “Certainly, the resources sector is very buoyant in terms of corporate advisors and we’re struggling to find people with that experience.”
New front-office investment banking recruits can expect to earn a base of up to A$100k for the new financial year, plus bonus. Associates with three to five years’ experience are most in demand.
Investment banks are facing a shortage of mergers and acquisitions and structured finance specialists, and the market for mezzanine finance specialists is also very tight, he adds.
“Mezzanine finance is an evolving area, so employers have to make lateral hires and go into places like investment banks and accounting firms,” Michel says.