So where are all the jobs?

I wonder if all of those who compained about how "backward" and "unsophisticated" Australian banks are, still think the same in 2009 ?

At least they are all still in business, while all those sophisticated US and European banks are all being nationalised.............

Last week I heard that the NSW government wanted to make Sydney the financial centre of Asia Pacific. I find it to be the Mother joke of all jokes!! Here in Australia we don't value international experience and most of the local staff don't have much foreign experience. How can this country become a financial giant when most of the time exployers and recruiters talk about the need for local experience in recruiting new staff ?!. Don't even mention about the poor infrastructure and primitive public transport system in Sydney.

Compare Sydney to HK or Singapore - these 2 cities have great public transport systems, their people are more mobile / internationalised and they are already years ahead of Sydney.

HELLO Sydney, please wake up and come to your senses, you have been dreaming for too long. Change your mindset before you have any grand international idea again !!

I can't believe you guys are complaining. Do you wonder why there is a brain drain in the first place? Its because Australia is a small crappy market with an inflated view of its own importance. Yes, the education system is good, and there are many wonderful things about Australian culture. But people - its not and never will be a major world financial centre! Thats why the pay is crap.

The Australian finance market is 10 years behind the rest of the world in sophistication and a veritable steaming cauldron of politics and back-stabbing. I have found to my regret it's very much WHO you know, rather than WHAT you know. I was hunted from a great job back in the real world and will now be leaving this backwater as soon as I can, back to the real world. What a disappointment.

These comments ring too true. I worked in London for over 7years at various VP/Assoc Directors level.

After being back 1 year in Sydney it took me a solid 3 months to get a job - I had to accept a 40% pay cut & to drop 5 rungs back in the ladder as their simply are not the same level of jobs back in Australia as compared to that of NY,London or even Singapore.

The local Banks are run by 50 year old plus ex GPS School who are INCREDIBLY scared of overseas experince, thinking outside the box and simply years behind in the banking industry - about 5 years so far I can work out-

This notion of lack of local skills- and the banks are crying out for expats to return 'to the lcuky country' is just not true- the reality is stay in London, NY etc until we grow up and change our way of thinking