Banks and boutiques create their own Western recruitment rush
Despite the ongoing mining tax debate, the resources boom in Western Australia appears to be generating more demand for front-office roles in Perth. Vacancy numbers are obviously small compared with Sydney and Melbourne, but they are rising within the context of the local market.
Business bankers, relationship managers and financial planners are particularly sought after, says James Nicholson, managing director, Robert Walters Australia.
"All the major banks are looking to staff-up those functions and demand has actually been continuously on the increase for most of the year in Perth. Stockbrokers are also in demand, which is a sure sign that people are desperate to do something with their money," he adds.
Investment houses such as Patersons Securities, Hartleys and Euroz are wanting to fill mining analyst and investment banking positions, comments John Coles, CEO, Executive Group International.
But rather than hiring mining analysts from the eastern states, Coles says these firms often recruit engineers from the mines. "The boutiques have access to the geologists and engineers who are based in WA and want to stay there because the lifestyle is so pleasant."
For front-office staff considering a shift out west, Nicholson says Perth salaries are comparable to those in Sydney and Melbourne.
Across all job functions, online financial-sector recruitment rose by 9 per cent in WA in May and by a staggering 73.4 per cent over the last 12 months, according to the latest Advantage Job Index.
However, report author Robert Olivier cautions that financial services job advertisements only represent about three per cent of WA's total employment market, given that Australian and overseas banks base most of their back and middle-offices in the eastern states.
Perth-based Bankwest declined to speak about its hiring plans.
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