Australian bonuses drop
A new survey has revealed a third of Australian finance professionals received a reduced bonus payment in 2011, though satisfaction levels were the highest in Asia Pacific.
Recruitment agency eFinancialCareers' annual 2011APAC Bonus Survey found there was a 28 per cent reduction in the average bonus payout in Australia for the year.
Almost 40 per cent of Aussie respondents reported their bonus was beneath expectations.
eFinancialCareers managing director for Asia Pacific George McFerran said the figures were of no concern considering the results from the investment banks in the second half of 2011.
"Disappointment among finance professionals, however, should not be ignored, as it is a legitimate source of concern," McFerran said.
"Firms may not fear retention reprisals this season, given the targeted layoffs and moderation in recruitment activity, but top performers may consider moving on if a better opportunity comes along," he said.
Despite the reduction in bonus payouts by almost a third, satisfaction levels were at their highest in Australia, with nearly half of respondents saying they were either very satisfied or somewhat satisfied.
Looking at country differences, finance professionals in Australia fared similarly to Hong Kong and China and slightly better than their counterparts in Singapore.
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
