SALARY SURVEY 2013 - Robert Walters Singapore

WELLINGTONWELLINGTONBANKING&FINANCIALSERVICESWELLINGTONBANKING&FINANCIALSERVICESOurbanking&financialservicesdivisioninWellingtonspecialisesinpermanentandcontractrecruitment.Withafocusonfrontandmiddleoffices,thisencompassesfinance,risk,compliance,investmentandfundsmanagement,custody,commercialandconsumerlending.MarketOverviewRecruitmentinthebankingandfinancialservicessectorwasdrivenbyregulatoryrequirements(AML/CFTandFATCA)andtheintegrationoftwomajorbanksin2012.Therewasalsoanongoingdrivethroughoutthesectorforimprovedefficienciesthroughprocessre-engineering,whichresultedinanincreaseinjoblevels.Theoperationsmarketwithinriskmanagementwasparticularlybusyasongoinguncertaintyintheinternationalfinancialmarketsmeantriskmanagementprofessionalscontinuedtobeinhighdemand.Thesenicheskillsetswereverydifficulttofindinthelocalmarketandoftenhadtoberecruitedfromoverseas.TheavailabilityoffinanceprofessionalsintheWellingtonmarketimprovedin2012astherelativelyfavourableeconomicconditionsinNewZealandmeantthatexpatsintheUKwerekeentoreturnhometore-establishtheircareers.Achallengeinthepasthasbeenthetranslationofsalaryexpectationsintothedomesticmarket.Howeverthiswasnotaproblemin2012,asthemotivationtoescapetheEuropeanfinancialclimatefaroutweighedanyperceivedsalarydiscrepancies.Forthemostpart,salarylevelsremainedstatic.However,therewasawidespreadtrendforremunerationtoincreaseatthejobofferstageasfirmsdemonstratedtheircommitmenttosecuretheirdesiredcandidates.Thiswasparticularlycommonformiddleanduppermanagementroles.Outlookfor2013Wedonotenvisageanysignificantincreasesinrecruitmentlevelsin2013andexpectthekeydriversforrecruitmentwillcontinuetobeoperationalefficiencyandmeetingregulatoryrequirements.Wedonotbelievethatsalarieswillbreachconsumerpriceindexincreases,althoughweanticipatethattopperformerswillcontinuetoberewardedfinanciallysothattheyremainintheirexistingroles.BANKING&FINANCIALSERVICESROLEPERMANENTSALARYPERANNUM$NZCONTRACTRATEPERHOUR$NZ2012 2013 2012 2013MarketRiskManager(6+yrs’exp) $90-140k $100-150k $45-75 $55-80TreasuryManager $90-140k $100-150k $60+ $60+ProductController $90-140k $90-140k $50-75 $50-75FundAccountantCA/CPA(6+yrs’exp) $90-115k $90-115k $55-75 $55-80SeniorCreditManager(6+yrs'exp) $85-125k $90-130k $50-65 $60-70BusinessAnalyst(6+yrs’exp) $85-120k $90-120k $60+ $60+SeniorCreditAnalyst(8+yrs'exp) $90-110k $90-110k $40-60 $40-60MarketRiskAnalyst(3-5yrs’exp) $70-100k $80-110k $45-65 $45-65FinancialMarkets-Analyst $80-130k $80-130k $45-65 $45-65FundAccountant-Degree(6+yrs’exp) $80k+ $70k+ $50+ $45+QuantitativeAnalyst $70-100k $70-100k $45-65 $45-65ProductTreasuryAccountant(3-5yrs'exp) $70-90k $70-90k $35-55 $35-55FundAccountantCA/CPA(3-5yrs’exp) $65-90k $70-90k $45-55 $45-55CreditRiskAnalyst(3-5yrs’exp) $60-90k $70-90k $35-60 $35-55ComplianceOfficer(3-5yrs’exp) $65-90k $65-95k $35-55 $35-55FundAccountant-Degree(3-5yrs’exp) $60-90k $60-90k $40-50 $35-50Settlements(3-5yrs'exp) $45-65k $50-70k $30-35 $30-35NB:Figuresarebasicsalariesexclusiveofbenefits/bonusesunlessotherwisespecified.RobertWaltersGlobalSalarySurvey2013 362