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Any bankers out there?!


Kempy

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OH works in an investment bank, in 'middle office' doing fixed income and equities currently but does have some front office experience as an account manager (relationship manager.) Quite likes back office work too.

 

What type of approx salary should be expected in Sydney/wherever he can get a job? He is on approximately £50k here. It's really hard to figure out if it is an industry that's paid well in oz. We are really hoping it is!

 

Ive searched efinancial etc to no avail.

 

Also, with PR, anyone know of his chances securing work before we leave? Or having

 

Many thanks

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Cant help on the job front but couldn't resist this little parting shot at OUR bankers

 

He He He :wink: come to Ireland........... we pay Bankers great money here and you get huge bonuses, expected to play loads of golf and you are not even required to do a good job. AND if you screw over the Banks and the Public and leave them bust we'll even let you come back and have another go at it in case you didn't get it right the first time........and we'll pay you just as much the second time around

 

Seriously.......dont come........you're heading in the right direction and we are also heading to the Sunshine Coast....somewhere.... in March. Cant wait and hope the bankers over there are a little better than our lot have proven to be.

 

Best of luck with your plans i'm sure it will all work out for you

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Banking is well paid in Australia. If you have PR I would touch base with recruiters before you leave. Speak to TOM & Morgan Mckinsly. The market is a lot smaller here, but the banks make a lot if money as you pay a monthly account fee, using other ATMs etc. What is his job in Uk? I think you would be shocked that banking grads are on $60k plus 1st yr out of uni.

Edited by Alexander Charles Craft
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Cant help on the job front but couldn't resist this little parting shot at OUR bankers

 

He He He :wink: come to Ireland........... we pay Bankers great money here and you get huge bonuses, expected to play loads of golf and you are not even required to do a good job. AND if you screw over the Banks and the Public and leave them bust we'll even let you come back and have another go at it in case you didn't get it right the first time........and we'll pay you just as much the second time around

 

Seriously.......dont come........you're heading in the right direction and we are also heading to the Sunshine Coast....somewhere.... in March. Cant wait and hope the bankers over there are a little better than our lot have proven to be.

 

Best of luck with your plans i'm sure it will all work out for you

 

 

 

Ha ha, was expecting some come back. He is lovely though and we both totally agree with you. It's a disgrace what happened/is happening in Ireland and elsewhere. Even within the industry it is terrible that joe bloggs workers like him are being made redundant this month but fat cats continue to get huge bonuses. Hoping that there is more justice in Oz.

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I'm in banking, similarish sort of area but much more senior.

 

I've been told the market is very tight in Australia. There are really only 4 banks, and 1 investment bank (Macquarie). For senior roles I have been told there is a major oversupply of people coming from the UK, and to expect to wait 6 months for a role to appear and then compete hard for it. There are FI desks I'd expect in all the banks.

 

There is also a major emphasis on local experience, rather than transferable skills. So I'd suggest he try to get any role in banking, and then after 12 months start to look for a more career job. Also focus on learning about the local regulatory environment. I find in any bank there is always demand for regulatory people (I think the liquidity space is growing in Aus) and it's a good way to get started.

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Thanks tons for the advice. He works in operations with generic title like 'client relations officer', has about 9 years experience, it's not for the kinds of banks that normal people use I.e with cash points. (Still don't quite get his job) but its not mega high paid trader type banker. Looking at some similar type aussie vacancies it is scary as many mention need for finance qualifications which aren't necessary in the UK.

 

I'm scared he wouldn't get work due to this or work meant we couldn't have a standard of life desired. (One income, two kids, wife, two bed ground floor place with garden, trips back to UK every year or so and walking distance to beach in Sydney.) Will defo register with those agencies- thanks.

 

Was recently made redundant but working again here- want to go but don't want to risk not getting work there and then coming back here jobless also. Would really love it if we found out he could easily get well paid job-affording above mentioned standard of life- before we leave! Guessing this is wishful thinking...

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Sorry, kmmr, me again. Any rough idea of approx salary he would get with a FI desk? Like I say 9 years UK experience mostly in ops. Has worked in front office as account manager with relationship manager team also although current role is mostly ops with some direct client work. Working all the hours of the day at the moment hence me posting here!

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I'm really not sure how restrictive the market is there to people without degrees. In the area I was in (a more techincal area) we didn't really consider people without finance degrees. But things may be different on the trading floors, especially on the sales side.

 

I'm not close to salaries, but a pretty wild guess would be around $100k. Banking isn't a well paid in Australia (relative to other people) as it is here. Conversely very low paid jobs here (tradies, nurses) appear to be much higher paid. I guess it means there is more equality, but it does result in higher prices, and more competition for nice houses etc. I would think that on a single salary you may struggle to get that Sydney lifestyle you describe, especially being close to a beach. Remember the Northern beaches are very expensive, and the commute quickly becomes unmanageable to the city is you go much beyond Manly/Curl Curl. And all banking is in the city.

 

Sorry, not the news you want I'm sure! I'm thinking of leaving banking, so we can live somewhere cheaper, and find a new way to live a cheaper life with a lower salary.

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My OH works for a bank out here at a more senior level. Afraid I agree banking still fairly well paid out here as you would expect, but the market is small, much smaller than London and there are far fewer big bonuses around. So he found jobs paid the same or even slightly less - you probably wont be earning more as some trades seem to out here. Add into that that we have found sydney really expensive - my food bill has massively increased, childcare is more and we have to pay for schools.

 

My oh has a good salary but I certainly don't feel richer than London. I also suspect you might not find a house at the price you would like, although with some compromises there are places. On a brighter note people move to sydney to enjoy the life out here and our family is very happy. Just not feeling that rich!

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