T+O+M BLOG

Investment Management Market Update FYE 2019/20

Overall, despite the recent impact of Covid-19 the Investment Management Industry has grown slightly in headcount in the last year.

Key highlights are:

• The volume of hiring has been at the junior to mid-levels with 70% of the roles below $150,000 package (base + super).
• The industry is dominated with permanent recruitment on a ratio of 72%/28%. Contract recruitment has mainly been within fund accounting and investment operations to assist with fund transitions and backfilling subject matter experts joining projects.
• The average tenure across the industry is 2.38 years in a role
• The highest demand for talent has been within Fund Accounting. Offshoring of junior positions has made it difficult to find talent at the entry level here in Australia.

The key take away for investment management professionals within Middle office, is that skill sets are shifting as there is a heavier focus on data analytics. Programming/coding is the new flavour with hiring managers demanding (Python, R, C++, VBA, SQL) to improve processes. Distribution talent should focus on deepening their relationships and focusing on share of wallet.

The key take away for employers is that succession planning is vital, as many candidates will be looking to take on more responsibility or move roles within 2 years of commencing their position.

To summarise:

While there are fewer roles in the market, the type of role and seniority have remained consistent. Covid has further accelerated the trends we saw previously, such as increased emphasis on technology and transformation roles and the focus on fewer but more senior sales and distribution roles. The emerging trend to onshore jobs could be very positive for employment prospects.

If you have any questions, would like to see our full FYE Investment Management market report, or are looking for your next Investment Management employer or employee then please get in touch with a member of our Investment Management team.

*diversity data sourced from LinkedIn