Financial planners emerged a major winner in the 2008 Hays Banking Salary Survey with an average salary increase of 6.7 per cent.
The annual survey, which included more than 80 banking sector roles across Australia and New Zealand, found that most employers increased salaries by 3 to 6 per cent.
The financial planning sector was what Hays termed “the primary exception” with average salaries for qualified paraplanners, for example, up from $70,000 to $75,000 in Sydney, from $55,000 to $65,000 in Canberra and from $58,000 to $65,000 in Auckland.
“Steady jobs growth is still the dominant feature of Australasia’s recruitment market and there are plenty of examples of significant salary increases that testify to its ongoing strength,” Hays Banking senior regional director Jane McNeill said.
“The slowdown in the banking and related sectors is very contained. As yet, we have seen no evidence of any negative impact across the broader job market. In fact, the number of new jobs registered remains at record levels, the demand for specialist skills is up and we’re doing more overseas campaigning for talent than ever before.”
McNeill said half the respondents expect permanent staffing levels to increase over the next year, with only 4 per cent predicting a decrease.
According to Hays, salaries remained generally stable over the past 12 months, with many employers focusing on improving company benefits, work environments and performance-based bonuses.
Residential, corporate and commercial lending professionals also experienced notable salary increases, particularly in Adelaide, Perth and Auckland, as did rural lending staff in Perth and funds management staff in Melbourne and Auckland.
