Working in Finance, Accounting and Banking

There is currently a strong demand across finance and banking throughout Australia.  The most sought after professionals are those with experience in blue chip corporates, large professional services firms and financial services institutions or banks.

Finance and Accounting

Skills in particular demand include:

• AP/AR specialists
• Auditors
• Business analysts
• Financial accountants
• Financial analysts
• Fund accountants
• Management accountants
• Tax accountants
  
  

Having a CA or CPA qualification will really strengthen your CV and put you to the top of an application pile.

Banking

Skills in particular demand include:

• Compliance specialists
• Credit analysts
• Product controllers
• Relationship managers
• Retail and investment banking specialists
• Risk analysts
  
  

Different cities, different opportunities

Different cities in Australia have different strengths and therefore attract different professionals. These regional variants are important to understand for any professional job seeker looking at Australia. Here are some specifics to help.

Sydney is fast becoming a global financial capital and is the epicentre for investment banking in Australia. Outside of the CBD, North Sydney is the home of Telco’s in Australia with fantastic opportunities, similar to the M40 corridor outside of London. Parramatta hosts the FMCG companies and a diverse range of Commerce and Industry roles. The highest level of demand is for qualified accountants at the mid tier level, AUD$80,000 - $140,000 a year roles.

Melbourne is the ‘cultural capital’. The banking sector is retail focussed with only three of the large banks headquartered there; NAB, ANZ and CBA. Demand for accountants in Melbourne is highest for roles within the AUD$70,000 - $120,000 salary bracket.

(Note that Sydney and Melbourne have the greatest level of opportunities, and offer a “big city buzz” that some leaving London fear they might miss).

Brisbane offers the most sunshine hours, but less employment opportunities. There is more of an insistence of “Exact Fit” hiring, meaning employers are less likely to look outside the square for new staff. There are very limited senior level opportunities (over 10 years experience). The highest level of demand is for qualified accountants at the more junior level, AUD$50,000 - $80,000 a year roles.

For the rest of Australia the skills shortage throughout the main cities is heavily influenced by the predominant industries within the state, such as opportunities in the Energy and Mining sectors in Perth. The market in Canberra is steady but small, with a heavy public sector employment concentration. In Adelaide there is a relatively strong financial services market, although it should be noted that it is considerably small in size.

What people earn and how it stacks up

Finance, Accounting and Banking professionals continue to be extremely well paid and well received in Australia. Demand is highest in Sydney and Melbourne leading to higher salary packages. If you are CA or CPA qualified you can generally command a higher premium.

Do you want personalised advice on what you can potentially be earning in Australia? Contact us now on aus@globalcareerlink.com.

Being there is everything!

Typically it is difficult to get a job prior to your arrival in Australia. Once you have arrived you will find your job search to be a lot easier. Depending on how flexible you are it can take a matter of days to around four weeks to secure a role.

Australia’s permanent market offers innumerable opportunities. If you have previously been contracting overseas this will not reflect badly, especially if you have been working in large corporates or blue chip organisations. You may find contracting to be a good option initially to get some Australian experience on your CV and before finding the right permanent opportunity.

The best time to go

The Australian market remains consistent between March and November. The summer months between December and February tend to be considerably slower as hiring managers are away on leave.

Year-end at the end of June also tends to be a slow period in Australia, as companies are absorbed in their financial reporting. Contractors should keep in mind that the Australian market is particularly busy in April and May preparing for this.

Timing is important if you're returning from
the UK

As a professional, you do not want to skill yourself out of the market. Generally the longer you spend overseas the more specialised you become. For example, the market in Australia differs from that in the UK in how being highly specialised can lessen your chances of securing your ideal role. Being highly specialised may just mean that it takes you longer to find a job.

Keep in mind that it is a popular time to return home from the UK before Christmas. Make sure you arrive in Australia before December if you are looking to get a job quickly.

To speak with one of our experienced Australian consultants, please contact us on aus@globalcareerlink.com.