Planning jobs drying up
The market downturn has begun to hurt the financial planning industry, with the latest data released by recruitment company eJobs revealing a marked downturn in the number of financial planning jobs being advertised across NSW and the ACT.
What is more, eJobs suspects that the picture is actually somewhat worse than is being revealed by the data, with the company’s Trevor Punnett suggesting the number of job advertisements being posted does not accurately reflect the number of jobs being offered.
The company said advertisement numbers had fallen 8.3 per cent over the year and that in recent weeks, the company had seen many more candidates coming into the market as a result of new entrants seeking a job and an array of experienced staff being retrenched by larger institutions.
It said while the industry had been witness to several years of candidate-tight market conditions, it was fast moving into a period of job-tight market conditions, with a larger job-seeker pool from which to select.
The company said while candidate numbers were increasing, there was still difficulty in finding experienced staff with successful track records.
It said while candidate numbers had increased, this had not yet translated into declining salary levels and that while larger institutional employers were cutting staff numbers, there was little evidence of this among individual practices.
AUTHOR
Mike Taylor
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