Show me the money

Sim · 10-07-2008, 11:35 AM

Quote:

New research has revealed demand for financial advisers in South Australia is increasing at a faster rate than the national average, while Western Australia has the quickest falling job numbers in the land.

The eJobs Recruitment Specialists report found that in the last 12 months, industry job numbers across South Australia increased by 21.5 per cent. This is compared to a 9.4 per cent drop nationally.

A ‘talent drought’ is also pushing up salaries for advisers, paraplanners and client support staff in the region, with $85,000 a popular salary for advisers with two to four years experience, although offers of $100,000 were also not uncommon.

However, the figures for Western Australia paint a different picture, with a 33 per cent decline in advertised industry jobs in the last 12 months, despite the mining boom that is occurring in the region.

Adviser salaries commenced at $40,000, some of which were requesting candidates with two or more years experience. Offers of more than $80,000 generally sought candidates with three to five years experience.

Mark Laszczuk · 10-07-2008, 12:06 PM

That statement about $40,000 a year for a planner is a bit of a stretch. That's what entry level paraplanners can expect. I don't know a single adviser that would even consider taking a job for $40,000 a year, unless the bonuses were enormous.

Mark

BV · 10-07-2008, 01:43 PM

Quote:

Originally Posted by Mark Laszczuk

That statement about $40,000 a year for a planner is a bit of a stretch. That's what entry level paraplanners can expect. I don't know a single adviser that would even consider taking a job for $40,000 a year, unless the bonuses were enormous.

Mark

Except when there are no jobs around
so $40k is better than nothing...

Young Gun · 10-07-2008, 02:32 PM

looks like I should change employer......

Mark Laszczuk · 10-07-2008, 07:33 PM

Quote:

Originally Posted by BV

Except when there are no jobs around
so $40k is better than nothing...

Hi Bill,

There are always jobs around. Remember this is a story in a newspaper, so of course it's going to sensationalise things. I work in the industry and have heard nothing whatsoever of such a massive slowdown in W.A. There's been a bit of 'applying the brakes' all over Aust. in the last few months, but frankly this story is a bit stinky to me.

Mark

Edit: Just had a look on Seek and there aren't exactly a shortage of jobs in Perth. Some of the jobs I saw advertised were offering Client Services people (entry level position) 50K plus super. Senior paraplanners were being offered 70 - 90K. I'm sure I could have found advisers stuff, but I only looked at the first two pages. I'll say again - there is no way in the world advisers are being offered salaries of 40K. Absolutely no way in the world.

BV · 10-07-2008, 08:39 PM

Mark

I know, jobs wouldn't have just dried up overnight.

I am actually suspecting that financial advisers should soon be busier than before because the easy ride on the share market is over.

Money is no longer easy to make so expert advise will be required.

Also, when People get their super statement and after they get over the first shock they will be knocking on your door looking for ways to improve their returns.

Cheers