Future looks bright for upbeat job market
The prospects of finding a job in the financial services and insurance sector are looking increasingly rosy, according to the latest Morgan & Banks job sur-vey.
Morgan & Banks Australasia chairman Geoff Morgan says the survey reveals the most buoyant job market since his group started doing these quarterly reviews in April, 1985.
The survey of 3,146 employers across Australia found that the financial services and insurance sector is extremely optimistic about the future with 45 per cent of its
The prospects of finding a job in the financial services and insurance sector are looking increasingly rosy, according to the latest Morgan & Banks job sur-vey.
Morgan & Banks Australasia chairman Geoff Morgan says the survey reveals the most buoyant job market since his group started doing these quarterly reviews in April, 1985.
The survey of 3,146 employers across Australia found that the financial services and insurance sector is extremely optimistic about the future with 45 per cent of its employers intending to hire new staff - a rise from 40 per cent in the previous survey released in February.
The number of companies looking to downsize remained the same at 12 per cent.
Morgan attributes the sector's buoyant job market to increased market confi-dence, a buoyant economy and strong growth in value-added services.
He expects these factors to continue, but says areas of potential concern in-clude the improving value of the Australian dollar and the possibility of eco-nomic volatility elsewhere in the world.
Morgan says: "Jobs in this sector will be plentiful for core accounting or fi-nance roles, sales professionals and computer or information technology special-ists."
However, he says there will be a lack of positions on offer for human resource
professionals in financial services due to the drive to give them a more strate-gic role within organisations.
Queensland and Western Australia experienced the largest gains in hiring expec-tations for the second quarter of 1999, compared to three months ago, while Vic-toria and ACT showed declines.
The survey found that the financial services and insurance sector has employment prospects that are well above the all industry average. Nonetheless, the legal, advertising and telecommunications sectors emerged as the most vibrant areas for job hunters at present.
Ends
Recommended for you
ASIC commissioner Alan Kirkland has detailed the regulator’s intentions to conduct surveillance on licensees and advisers who are recommending managed accounts, noting a review is “warranted and timely” given the sector’s growth.
AMP and HUB24 have shared the areas where they are seeking future adviser growth, with HUB24 targeting adding more than 2,000 advisers to the platform.
Bravura Solutions has appointed a new chair and deputy chair to take over from departing Matthew Quinn, while Shezad Okhai picks up another responsibility.
Two advisers say M&A is becoming a “contact sport” as competition heats up to acquire attractive advice firms, while a lack of new entrants creates roadblocks in organic growth opportunities.
